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Attachments: 5Min Intraday System
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5Min Intraday System

Today there were 2 nice examples with similars moves in G/U and E/U.
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Quoting mkain
Today there were 2 nice examples with similars moves in G/U and E/U.
My chart and I do agree with Mkain as usual because this is what this system is all about (recognise familiar price actions/patterns/movements and trade only them). And the question marks - resistance found (lower highs - then look for a triangle formation, look for higher lows or double bottoms) for a triangle being being formed. Wait for a breakout.

Just ignore the evidence of that short trade. It was one of Phillip's 15min system trades for another profit.
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Willem Forex recipe for success = Patience, discipline & hard work.
Just an interesting observation on Cable
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Willem Forex recipe for success = Patience, discipline & hard work.
i sold after H4/daily breaked a TL to down side and after 3 little sisters (below 50sma ) using M1 chart ,now i hedged my position with 55pips profit and looking for open my buy order (with profit,BE or even loss) to let the sell run down .(its a mthod wich im trieng to not to close the position but hege it to let it run with opening the other side when it is possible and if it is not possible i close both ,anyone has experience/idea for this method?)
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8pips
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Quoting bshadroo
8pips
Looks like a risky trade - no real price pattern but I cannot really see which pair it is - looks like the swissy if I am not mistaken. In the last few days she is trending very nice - therefore nice trade of yours. I am starting to follow her with Phillip's new combo systems - the reason why I know her movements lately.
Willem Forex recipe for success = Patience, discipline & hard work.
Hi guys,

Thanks for all the interesting ideas and charts. I have a few questions.

Do you use a fixed stoploss of let us say 10 pips or is it depending of market reactions (big moves, bigger stops).

Do you let your profits run or do you take profit at a certain amount of pips?
What's your risk-reward?

Thanks,

Gunther
Quoting Gunther
Hi guys,

Thanks for all the interesting ideas and charts. I have a few questions.

Do you use a fixed stoploss of let us say 10 pips or is it depending of market reactions (big moves, bigger stops).

Do you let your profits run or do you take profit at a certain amount of pips?
What's your risk-reward?

Thanks,

Gunther
Hi Gunther

Welcome to this system.

1. No, I don't use a fix SL anymore. Especially in these markets. It depends on the setup. Sometimes it depends on the where the 21MA/war zone is.

2. Once again, no. I don't like to let my profit runs in this system. Yes, I do use that priciple in the longer time frame system like the new combo systems of Phillip. This system is initally design is a ULTRA short term system - a trade should end after 5-6 candles. A quick 10-15pips before the market turns around is my aim. But then it also depends on the price pattern and where the next support/resistance level is.

That is just my opinion - I am sure there are other members (and I know some of them) who let their profits run to good effect.

3. R:R? Not good but you need to exit your trade before your SL is triggered. Once you don't feel comfortable with the trade, exit for a small loss (2-5pips) and don't wait for your SL to be triggered (the big secret to be successfull using this system). Look at Bshadroo losses and see how quickly he exits for a small loss when he doesn't like the format of a candle. Great approach. Easy to make up with another win

I hope this thread will assist you to develop your own style and be a successful trader.

Looking forward to see your comments.
Willem Forex recipe for success = Patience, discipline & hard work.
Here are 2 trades that I placed at work. The first was a TC after finding resistance off the 21 MA. I took it a little before the candle closed so it was not as far out of the war zone as when the candle finished. The second trade I took as it broke the red support line. Total of 25 pips. More importantly, I feeling better about my trading. I'm not the best, but I getting better and recognizing patterns. Backtesting over the wkend has helped and so has constantly watching the better traders trades and studying them. For anyone who cares, I've been at this for 1 yr and only now am I BEGINNING to see things.
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9pips in 1mitue,even no chance to save setup before closing the position.i knew there should be a TC after those 2 dojies and enter with 1minute chart afrading miss the TC.
willem :about the prev. trade :yes it was usdchf and i agree it was risky .
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20pips TC (ignore the sellstop=stoploss and selllimit=TP)
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Quoting bshadroo
20pips TC (ignore the sellstop=stoploss and selllimit=TP)
Familiar signal? Have we seen this one before?
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Willem Forex recipe for success = Patience, discipline & hard work.
Hi Golfer

You mentioned Philip's new combo system. Where can I find details on this?
Thanks buddy

Peter
Quoting Morelands
Here are 2 trades that I placed at work. The first was a TC after finding resistance off the 21 MA. I took it a little before the candle closed so it was not as far out of the war zone as when the candle finished. The second trade I took as it broke the red support line. Total of 25 pips. More importantly, I feeling better about my trading. I'm not the best, but I getting better and recognizing patterns. Backtesting over the wkend has helped and so has constantly watching the better traders trades and studying them. For anyone who cares, I've been...

Hi Ray

I am so glad - it also took me about 1-1.5 years to understand this system.

See my comments on your chart - my warning signals are in the circles.
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Willem Forex recipe for success = Patience, discipline & hard work.
Quoting petera
Hi Golfer

You mentioned Philip's new combo system. Where can I find details on this?
Thanks buddy

Peter
Hi Peter

I did send you a pm. Here is the post:

http://www.forexfactory.com/showpost...ostcount=18074

Thanks
Willem Forex recipe for success = Patience, discipline & hard work.
Departed with 7 pips when the price had a problem making it through the 1.3400 level.
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Hi Golfer,

Could you send me also a PM? Do you use Philip's 4h MACD system?

Friendly regards,
Gunther
Once I see the lower highs and higher lows indicated by the small arrows I draw My Small support and resistance lines for the formation of the triangle. Then I'll wait for a breakout and don't take the pullback (long trade) towards the 21MA- which in this case I took for 20pips (not according to My Rules - reason why I don't indicate the trade).

Just to show you again how to evaluate the setups. I hope it helps.
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Willem Forex recipe for success = Patience, discipline & hard work.
Quoting mdowd
Departed with 7 pips when the price had a problem making it through the 1.3400 level.
Hi Md

Well done. See my previous post - it is only now that I see your post
Willem Forex recipe for success = Patience, discipline & hard work.
Hi Golfer

I found Phillip's web site and purchased the combo system. It downloaded in a unrecognizable format. Any suggestions?

Peter
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