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5Min Intraday System

  • #6,021
  • Dec 12, 2008 10:47am Dec 12, 2008 10:47am
Quoting petera
Hi Golfer

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

Peter
Hi Peter

The files are very big - so Phillip zipped them. You need to unzip the files using an unzip software.

I hope it helps.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,022
  • Dec 12, 2008 10:53am Dec 12, 2008 10:53am
Quoting Gunther
Hi Golfer,

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

Friendly regards,
Gunther
Hi Gunther

Did send the pm.

I've tried the system but I cannot get to a PC very 4h on the dot. So I've struggled to get a grip on the system. The only reason why I stopped trading the system. The 5min system suites me better - I just scan the 5min charts whenever I do have time.

However I do the 4h MACD rules/rhythm to determine my entries on this 5min system. It is very helpful and eliminates some bad trades (trades againts the 4h MACD rules which are usually losers).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,023
  • Dec 12, 2008 11:05am Dec 12, 2008 11:05am
Quoting mdowd
Departed with 7 pips when the price had a problem making it through the 1.3400 level.
My comments on the chart regarding pinbars - "A" didn't work out.
Attached Image (click to enlarge)
Click to Enlarge Name: 5.1.JPG Size: 67 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,024
  • Dec 12, 2008 11:21am Dec 12, 2008 11:21am
I did what you suggested for 10 pips on the way down
Attached Image (click to enlarge)
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  • #6,025
  • Dec 12, 2008 11:52am Dec 12, 2008 11:52am
Quoting mdowd
I did what you suggested for 10 pips on the way down
You are just too quick for me again. LOL!

Here is evidence of my trade - where I entered. I took the first pinbar. The move down was just about 10pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 6.1.JPG Size: 102 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,026
  • Dec 12, 2008 12:41pm Dec 12, 2008 12:41pm
Info
Attached Image (click to enlarge)
Click to Enlarge Name: 1.1.JPG Size: 92 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,027
  • Dec 12, 2008 1:35pm Dec 12, 2008 1:35pm
A nice example of the development, entry and exit of a triangle trade.

Look for similar signals in a setup.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.1.JPG Size: 92 KB
Click to Enlarge Name: 2.gif Size: 27 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,028
  • Dec 12, 2008 6:30pm Dec 12, 2008 6:30pm
Quoting Golfer
You are just too quick for me again. LOL!

Here is evidence of my trade - where I entered. I took the first pinbar. The move down was just about 10pips.
.
Was it the 2 tails up that made you take the trade before the TC appeared. If you wouldn't mind, take me step by step your thought process. I got in later/late on that trade and did not get the +10pips, but instead a -10 pips.
Raymond
  • #6,029
  • Dec 13, 2008 5:41am Dec 13, 2008 5:41am
Quoting Morelands
.
Was it the 2 tails up that made you take the trade before the TC appeared. If you wouldn't mind, take me step by step your thought process. I got in later/late on that trade and did not get the +10pips, but instead a -10 pips.
Raymond
Golfer has the entry technique on pin bars explained just above. But I should explain why I got the 10 pips. I trade on Interactive Brokers which shows the trading market. The trading was going through at the ask instead of the bid. I got my sale in at the ask and barely made the 10 pips. Had I taken the bid, I would need to bale out far short when the price retraced.
  • #6,030
  • Dec 13, 2008 1:37pm Dec 13, 2008 1:37pm
hi golfer : dont u use swiss army EA anymore?im going to change my broker to can close half of my 10k position and i think i need to use an EA to do that ,do u recommand swiss army ? and how can i chage the setting of the EA?
thx
  • #6,031
  • Dec 14, 2008 12:13am Dec 14, 2008 12:13am
Quoting Morelands
.
Was it the 2 tails up that made you take the trade before the TC appeared. If you wouldn't mind, take me step by step your thought process. I got in later/late on that trade and did not get the +10pips, but instead a -10 pips.
Raymond
Hi Raymond

Only a pleasure.

A few rules about trading the pinbars:

1. A good pin bar has:

1.1 A long nose and that is the tail (and a long nose relative to the open/close/low)
1.2 A nose/tail protruding a long way from the other candles around it (it stands out and is very prominent)
1.3 The open / close of the pin bar are both near one end of the bar – for example almost like a shooting star at the top of an upmove.

2. The best pin bars are played as they bounce off either:

Pin bars should not be traded as a stand-alone signal but should be traded with other signals as part of this 5min strategy:

2.1 Fibonacci levels (retracements of the previous move)
2.2 Important pivot levels such as daily pivot levels determined by the pivot indicator being used
2.3 Moving averages as used in this system – especially the 21 and 50MA
2.4 Confluence (where several MA or Fib levels are found in the same general region)
2.5 Swing high / swing low – this is CT trading be very careful and it is not part of this system
2.6 Retracement of the current move as found on the 3 little sister or big brothers


I hope it helps you - just another interesting signal I do find helpfull identify high probability trades.

This signal was discussed some time ago by another member (cannot remember his name) on Phillip's 4h MACD system but nothing came from it. I copied the file, studied it and adapted it to suite my style in this 5min system. So I decided the give it a try with very nice outcomes. I think it comes from James16 thread. Just do a search on ff and I am sure you'll find many examples/discussions on it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pinbar 1.1.JPG Size: 89 KB
Click to Enlarge Name: pinbar 1b.1.JPG Size: 90 KB
Click to Enlarge Name: pinbar 1a.1.JPG Size: 88 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,032
  • Edited 8:32am Dec 14, 2008 8:08am | Edited 8:32am
Hi, im new here, i bit confuse on how to start digesting this tpl/strategy. Already go thru all the guideline from post#1, but some of the tpl attached quite different from the current one. The old tpl & pdf you guys still discuss about ADX, RSI & bar chart.

From the current tpl, i can see only you used candlestick chart, TOR, 50 SMA, 21/10EMA, SMAangle & MACD, it this correct?

Appreciate you can guide me:

1) Where can I download the latest template and indi?
2) How to start? bcoz i bit confuse the tpl at post#1 is different from current tpl.
3) How many pips you guys make everyday?
4) Is this the correct setting? I used 5min philip tpl and add indi MACD colored v102
http://img227.imageshack.us/img227/2366/testcg1.jpg
  • #6,033
  • Dec 14, 2008 8:47am Dec 14, 2008 8:47am
Another random selection of pinbars - the first one doesn't qualify as a pinbar, the second and third one do.

The pinbar is a kind of power bar as explained by Phillip - just a few more rules to it.

I hope it is clear and I hope it helps you with your trading.
Attached Image (click to enlarge)
Click to Enlarge Name: pinbar 2.1.JPG Size: 101 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,034
  • Dec 14, 2008 9:13am Dec 14, 2008 9:13am
Quoting wanoto
Hi, im new here, i bit confuse on how to start digesting this tpl/strategy. Already go thru all the guideline from post#1, but some of the tpl attached quite different from the current one. The old tpl & pdf you guys still discuss about ADX, RSI & bar chart.

From the current tpl, i can see only you used candlestick chart, TOR, 50 SMA, 21/10EMA, SMAangle & MACD, it this correct?

Appreciate you can guide me:

1) Where can I download the latest template and indi?
2) How to start? bcoz i bit confuse the tpl at post#1 is different from current...
Hi Wan

Welcome but don't be confused:

1. Your chart is perfect as it is. Just start looking for the setups now.

2. Concentrate on the market rhythm

3. Read all the other stuff on page 1 - especially Phillip's mp3 file and My Rules with the appendices - again and again and again.

4. Ignore the ADX

5. Look at the examples of trades posted by other members and see if you can see why did they entered, what did they do right and/or wrong.

6. Over week-ends go back in history on your charts and use the F12 key on your keyboard if you do have an MT4 platform. It will move the chart candle by candle. I've done this for hours and hours and it isthe only way you'll learn this system. Then do some paper trading in order to get a feel for the system.

7. Then trade with a demo account or small with a live account to get familiar with the system

8. Do all the above if your are serious about forex trading and be warned:

This is hard work - nothing comes easy trading the forex markets like this. Look at my signature on my posts.

And we are here to support and assist you to develop your own style of trading.

How many pips? It will all depend on you and your style of trading. Rather ask yourself if this system will suite your style. My aim is 50pips per week. What would your aim be?

Enjoy it and I am looking forward to see your charts.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,035
  • Dec 14, 2008 11:31am Dec 14, 2008 11:31am


This signal was discussed some time ago by another member (cannot remember his name)

I found it, I think. Jotty? It's a PDF file and I'm studying it as I write this
Thanks AGAIN
Raymond
  • #6,036
  • Dec 14, 2008 12:14pm Dec 14, 2008 12:14pm
Quoting bshadroo
hi golfer : dont u use swiss army EA anymore?im going to change my broker to can close half of my 10k position and i think i need to use an EA to do that ,do u recommand swiss army ? and how can i chage the setting of the EA?
thx
Hi Bs

No, I do use Yannis' EA. His EA can close any trade in stages (e.g. close half your position after 10pips then follow the price on the 21 or 10MA) and then you can use any MA as your trailing stop.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,037
  • Dec 14, 2008 2:20pm Dec 14, 2008 2:20pm
Quoting Golfer
Hi Bs

No, I do use Yannis' EA. His EA can close any trade in stages (e.g. close half your position after 10pips then follow the price on the 21 or 10MA) and then you can use any MA as your trailing stop.
sounds good ,2 questions:
1-where can i download the yannis EA
2-what happends if the EA wants to close the position and broker doesnt allow to close with price change alarm forexample
thx
  • #6,038
  • Dec 14, 2008 8:57pm Dec 14, 2008 8:57pm
Quoting bshadroo
sounds good ,2 questions:
1-where can i download the yannis EA
2-what happends if the EA wants to close the position and broker doesnt allow to close with price change alarm forexample
thx
1. The 1.76 version was posted some time back on this and the 4h MACD thread. Just do a search on top of your page for "Yannis".

2. I don't know, you'll have to ask Yannis. Send him a pm.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,039
  • Dec 15, 2008 6:59am Dec 15, 2008 6:59am
Cable trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20081215 5min trade 1.1.JPG Size: 114 KB
Click to Enlarge Name: 20081215 5min trade 1a.1.JPG Size: 105 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,040
  • Dec 15, 2008 7:13am Dec 15, 2008 7:13am
Price patterns on Cable today - I hope some of you got some pips on it. Nice movements forming nice tradeable patterns.

1. Triangle breakout - I one I took

2. Tails on the 50MA - I decided not to take a change, too risky for me.

3. Pennant breakout - I was busy with something else

4. TC trade - a bit riksy with that tail on the previous candle, the reason why I didn't take it.

5. Pinbar - missed it but I defintely would have taken it. Although the nose on the pinbar is in no-man land. Just liked the formation.

6. TC - another one I would have take if it wasn't for the other trade (one of Phillip's combo system trades - so just ignore the evidence of the last trade).

7. Flag - I didn't like the shortness (only 3 candles), reason why I passed on that one.

I hope it helps somebody - nice signals I am looking for. Not just a pullback into the war zone. Look at the market rhythm and movements.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.1.JPG Size: 105 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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