how do YOU trade the 5min eurusd? | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Intresting finding or simply statistic: 5min candel 14 replies

EURUSD 5min SMA50-200 price cross Swing EA 14 replies

5min Bollinger breakout system 42 replies

EURUSD 5min chart stash 63 replies

5min Trading / EURUSD / From LO 467 replies

how do YOU trade the 5min eurusd?

  • #21
  • Nov 15, 2008 5:24pm Nov 15, 2008 5:24pm
Just want to add my two cents.

The lower the TF the more discipline a trader needs.
I don't trade low noisy TF .. but i got to confess that i like looking at them (15min) 'cause they are fascinating .. don't know why, maybe because of the FX dream of taking xxx amount of $$ out everyday of the market is hard to get rid of.
However i think that when you daytrade you have to necessarily have an orientation of where the price is, such as a soccer match ... in which part of the field the ball is? .. is it in yours ... so should i defend? ... attack? ...
So where did the price close during UK session? or NY session?
Maybe looking it this way would help much better than an indicator.

Good trading.
giuseppe
  • #22
  • Nov 18, 2008 7:22pm Nov 18, 2008 7:22pm
You are right, even when scalping or when trading on low TF you shoud apply fundamental analysis, however I wouldn’t say it would give you a better forecast than an indicator, even less when it comes to scalping. Remember these days are full of chaos, so you better use a good indicator, just in case.
  • #23
  • Nov 18, 2008 8:11pm Nov 18, 2008 8:11pm
ok baby! certainly, it is necessary to pick a good indicator, but actually is not about good or bad...i think is about functionality over a strategy. In othe words, by combining 2 or 3 indicators...my husband always suggests that for practicing while you become an expert.
  • #24
  • Nov 18, 2008 8:36pm Nov 18, 2008 8:36pm
Quoting nikolaou
i have been trading for a while now with not much success, i know i am a scalping type trader, but i cant seen to get continued success, i would like to trade the 1 and/or 5min EURUSD but i cant seem to find a system that is sufficient.

what do you like to do to trade it?
The reason you feel you are a natural for a 1 or 5 min Scalp is because {right now} you cannot see far enough into the future.

If you Claim to be a Scalper but also need help; let me tell you something. Your Not A Scalper. At least, not for long.
  • #25
  • Nov 19, 2008 3:11am Nov 19, 2008 3:11am
Quoting Bemac
The reason you feel you are a natural for a 1 or 5 min Scalp is because {right now} you cannot see far enough into the future.

If you Claim to be a Scalper but also need help; let me tell you something. Your Not A Scalper. At least, not for long.
Scalping is verry dangerous, I don't know manny people who have succesfully managed it.
But I can also see his point of view, because the ones that manages it earn hughe profits.
{Promotion Removed}
  • #26
  • Nov 19, 2008 6:29am Nov 19, 2008 6:29am
READ THIS......http://www.forexfactory.com/showthread.php?t=127271

Regards
forexflash
  • #27
  • Nov 19, 2008 6:39pm Nov 19, 2008 6:39pm
Quoting kittykat
ok baby! certainly, it is necessary to pick a good indicator, but actually is not about good or bad...i think is about functionality over a strategy. In othe words, by combining 2 or 3 indicators...my husband always suggests that for practicing while you become an expert.
Thanks Kat, I have certainly developed a strategy by combining 2 or 3 indicators, some of them to check the trend, and some other to calculate my S/L and T/P. I am actually looking to program an EA with the strategy I have been using. It has shown me the money.
  • #28
  • Nov 19, 2008 7:18pm Nov 19, 2008 7:18pm
2 or 3 indicators is perfect. Until now the best I’ve learned is to combine different kinds of them. For example trend indicators with momentum ones or volume indicators with volatility ones or, a mix of all them. My idea is to find the perfect entry moment. EA is for now too far from me but I know I can do it in some time.
  • #29
  • Nov 19, 2008 7:36pm Nov 19, 2008 7:36pm
Talking about indicators, I've been wondering with something about indicators. Now most people think that the more indicators you use the less opportunity you have to make a trade. Now, I f only worked with trend indicators, or volume, or momentum, I mean with only one type of indicators, will this change somehow the way I trade or what I just mentioned above?
  • #30
  • Nov 19, 2008 9:06pm Nov 19, 2008 9:06pm
Hi man, I was looking into that thread “THV system, final edition”, nice strategy to gain some pips. Have it worked for you? I don’t know too much about EA and wanting to manage them. The mix between indicators can give good options and answering you Jhonny the way we use indicators is personal because you need to prove any advice first in your demo and then you’ll see if this work for you. Yesterday I proved some strategy one person suggested here and it didn’t work for me but it seemed to work for him, so it’s you way man.
  • #31
  • Nov 20, 2008 5:47pm Nov 20, 2008 5:47pm
Quoting Johnny Be Go
Talking about indicators, I've been wondering with something about indicators. Now most people think that the more indicators you use the less opportunity you have to make a trade. Now, I f only worked with trend indicators, or volume, or momentum, I mean with only one type of indicators, will this change somehow the way I trade or what I just mentioned above?
Exactly, having more indicators won’t ensure you a good trade, I believe more than 3 indicators will make your chart look like a sailing map in Italy. So the more indicators you have, more factors will need to be analyzed, so just determine what are the ones have worked for you better. I haven’t seen a useless indicator at all; the key is to know how to combine them to achieve your winning trade.
  • #32
  • Nov 20, 2008 5:58pm Nov 20, 2008 5:58pm
Thanks for the helpful reply. I've been trying to setup my trading style dude, still not sure if I wanna be a scalper or a long term. Do you know of any indicators that help on both cases, that way I could try 'em and take the best decision here. Take care now.
  • #33
  • Nov 20, 2008 9:55pm Nov 20, 2008 9:55pm
well though...i suggest you not to trade that much these days if you are over a live account. The market is so freaking volatile this week...use the D1 time frame on the EUR/USD...it is so unpredictable my friend...i'm will lay down and chill while the storm is over...at least until next week!
  • #34
  • Nov 20, 2008 10:17pm Nov 20, 2008 10:17pm
Indicators, depending the way you use them (momentum, trend, volatility, etc) can be uses in long or short time frames, but remember as far as you go on TF you’ll need to consider fundamentals as they affect the market in long term. If you haven’t decided your trade style you better start with technical analysis, that means short time frames and slowly get in the game those fundamentals.
  • #35
  • Nov 21, 2008 6:29pm Nov 21, 2008 6:29pm
Quoting Jetson
well though...i suggest you not to trade that much these days if you are over a live account. The market is so freaking volatile this week...use the D1 time frame on the EUR/USD...it is so unpredictable my friend...i'm will lay down and chill while the storm is over...at least until next week!
I don't agree with you, not trading is not the answer, even less for volatile markets. The strategy for me in this chaos scenario would be a non use of indicators, because they aren't that accurate with the trend acting like that, so you better adopt a price action strategy along with some fundamentals would help you to trade. As a matter of fact, trading on volatile currencies has left me good experience.
  • #36
  • Nov 21, 2008 8:52pm Nov 21, 2008 8:52pm
When the market is volatile and you have the perform man… you’ll hit it… I’m working on that and let me tell you price action strategy is my goal. That combination of candles interpretation is so cool and you start looking at the chart differently. Do you know that old head & shoulders strategy is very useful? I like thing like that.
  • #37
  • Nov 21, 2008 9:19pm Nov 21, 2008 9:19pm
Hola LiveRicky! you are right baby, i've been using this head and shoulders strategy and it suits my recent trading method. Combined with the zig zag indicator to have an historical record of market patterns my pip's average is not at their best shape but getting better!
  • #38
  • Nov 24, 2008 5:45pm Nov 24, 2008 5:45pm
Quoting LiveRicky
When the market is volatile and you have the perform man… you’ll hit it… I’m working on that and let me tell you price action strategy is my goal. That combination of candles interpretation is so cool and you start looking at the chart differently. Do you know that old head & shoulders strategy is very useful? I like thing like that.
I was looking for that Head and Shoulders patter and I must admit it seems to be reliable, the most reliable when it comes to trend reversal patterns. However, since I don't do indicators I'll continue to keep an eye on the calendar and also checking the bar formations.
  • #39
  • Nov 24, 2008 6:13pm Nov 24, 2008 6:13pm
Quoting Hdsn
I don't agree with you, not trading is not the answer, even less for volatile markets. The strategy for me in this chaos scenario would be a non use of indicators, because they aren't that accurate with the trend acting like that, so you better adopt a price action strategy along with some fundamentals would help you to trade. As a matter of fact, trading on volatile currencies has left me good experience.

hey! mmm...did i say that not trading is the anwer??? i just gave and advice for a guy who said that was thinking on going live these days... and i reply...

do you think it would be a great time for a newbie to start now that we are sailing in the middle of the financial storm???
  • #40
  • Nov 25, 2008 5:48pm Nov 25, 2008 5:48pm
Probably sailing in the middle of the financial storm will give a newbie the real insight of trading on Forex. Let's be honest and say there's always volatility in markets. Sometimes it isn't this chaotic, but now it is. If anyone is willing to trade on Forex, he /she must be aware of that, and must develop a strategy that makes them be prepared for every situation, and have the tools to forecast and predict how the trend will be moving. So for me, trading in volatile scenario would be a good school for someone who's getting an insight on Forex, of course you would need to have a risk management plan so you don't lose your shirt doing it, not risk too much and start the trade.
0 traders viewing now