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5Min Intraday System

  • #5,881
  • Nov 24, 2008 8:22am Nov 24, 2008 8:22am
Quoting bshadroo
i reaaly intrested to see that trades,could u post them here or send some of them to my email please? ([email protected])
thx
Hi Bs

Like I said in my previous post - the charts are not for this thread. I just want to show people what can be done with the necessary discipline and patience using the principles of Phillip's 5min system.

I'll send you an e-mail.

Great charts of yours by the way!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,882
  • Nov 24, 2008 8:32am Nov 24, 2008 8:32am
this is on of that good days for M5 system
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  • #5,883
  • Nov 24, 2008 8:34am Nov 24, 2008 8:34am
I entered on the smooth ellipse. But when it started running into trouble at the old top, I bailed for 2 pips.
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  • #5,884
  • Nov 24, 2008 8:35am Nov 24, 2008 8:35am
Quoting Golfer
Hi Bs

Like I said in my previous post - the charts are not for this thread. I just want to show people what can be done with the necessary discipline and patience using the principles of Phillip's 5min system.

I'll send you an e-mail.

Great charts of yours by the way!!!
thx ,i am waiting for email
  • #5,885
  • Nov 24, 2008 8:38am Nov 24, 2008 8:38am
I attached the wrong chart. Here it is
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  • #5,886
  • Nov 24, 2008 11:24pm Nov 24, 2008 11:24pm
Quoting mdowd
I attached the wrong chart. Here it is
I do like that higher lows being formed - very good signal, one of my favourites.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,887
  • Nov 25, 2008 4:40am Nov 25, 2008 4:40am
Fast trade. I realy liked higher lows forming. then I waited for TC confirmation. Also price found support on TL.
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  • #5,888
  • Nov 25, 2008 7:13am Nov 25, 2008 7:13am
Off the ellipse for 10 pips. A note of explanation because it looks like an early entry. I trade the SPY along with forex. I have noticed lately that the forex trades seem to follow SPY on the turns. (Probably a bank somewhere has trained a computer to trade that way. When EU started up I noticed that SPY had already broken up, so I took the trade.
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  • #5,889
  • Nov 25, 2008 7:15am Nov 25, 2008 7:15am
it changed so many form the first to the last
I need time ,I need money, I need more patience
  • #5,890
  • Nov 25, 2008 7:22am Nov 25, 2008 7:22am
9pips
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  • #5,891
  • Nov 25, 2008 7:30am Nov 25, 2008 7:30am
12 pips by the same process
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  • #5,892
  • Nov 25, 2008 8:39am Nov 25, 2008 8:39am
Info
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,893
  • Nov 25, 2008 9:58am Nov 25, 2008 9:58am
15 pips on the smooth ellipse and doji at the pivot
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  • #5,894
  • Nov 26, 2008 12:52am Nov 26, 2008 12:52am
Thank God it was my demo account.
I knew something was wrong - all MAs were "too horizontal".
BTW I am still in this short trade just for sake of it and hoping $ will rebound.
Do not try at home!
Quoting Golfer
Info
  • #5,895
  • Edited 5:54am Nov 26, 2008 5:44am | Edited 5:54am
Man, every time i say to myself - patterns patterns patterns.
Learn to recognize patterns as they happen every day: DTs with reverse bar (or power bar), triangles, etc...

100% win rate with 10 pip take profit each (40 pips) - rare happening but possible.
Here is the explanation why I took those (some are based on price action):
1. Double top at 50SMA and nice reverse bar - short
2. MACD broke zero line and reverse bar (green bar circled) after some profit taking (those 2 down candles were profit taking after that big green candle) - long (risky trade, but that big green candle before made me take this trade, plus macd)
3. Double top and a reverse bar (also look at MACD) - short
4. Symmetrical triangle breakout trade - short (I actually put 2 orders near the apex of the triangle - long and short - short got triggered)
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  • #5,896
  • Nov 26, 2008 6:14am Nov 26, 2008 6:14am
although 21ema in smaangle was still above -0.1 but i'd trade this setup if i was online
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  • #5,897
  • Nov 26, 2008 7:08am Nov 26, 2008 7:08am
I did
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,898
  • Nov 26, 2008 7:15am Nov 26, 2008 7:15am
Quoting sanjur0fla
Man, every time i say to myself - patterns patterns patterns.
Learn to recognize patterns as they happen every day: DTs with reverse bar (or power bar), triangles, etc...

100% win rate with 10 pip take profit each (40 pips) - rare happening but possible.
Here is the explanation why I took those (some are based on price action):
1. Double top at 50SMA and nice reverse bar - short
2. MACD broke zero line and reverse bar (green bar circled) after some profit taking (those 2 down candles were profit taking after that big green candle) - long...
Don't worry, you'll get use to it (looking for patterns and the rhythm). In the beginning I struggled a lot but now it is better. But I still do miss a lot of them.

Just keep practising!!!!! And keep your patience.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #5,899
  • Nov 26, 2008 7:58am Nov 26, 2008 7:58am
Quoting Golfer
I did
welldone,i see a buystop on ur chart ,would u plz explain it ?
thx
  • #5,900
  • Nov 26, 2008 11:17am Nov 26, 2008 11:17am
As I can see from todays graph the 1.2980 level was holding strong and became pretty good resistance.
So the buy stop was placed strategically in case dollar rallies down again (or graph rallies up).
Is that correct?

Quoting bshadroo
welldone,i see a buystop on ur chart ,would u plz explain it ?
thx
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