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The Force 5min system

  • #1,861
  • Dec 21, 2008 2:14pm Dec 21, 2008 2:14pm
I think this is a great system.
I am a frequent reader and user of other thread, but in past two weeks I started to look at this thread and I love this place. Thanks to Robdee, Forexjedi and others I improved a lot in my trading.
I love Fibs and use them in addition of this system..nice and smooth.
  • #1,862
  • Dec 21, 2008 2:24pm Dec 21, 2008 2:24pm
One of the things I have learned on this thread is the importance of prepping before I begin trading and it has helped not only my trading, but my confidence as well as I begin a new trading session.

My question is what do you guys do different before the Monday sessions begin (if anything). I go through my regular routine but I'm not yet real confident on Mondays. Have you found that Mondays are generally a continuation of the previous Friday or should we have a defferent "fresh start" attitude on Mondays?

I HATE trading on Mondays because I don't feel like I have a good feel for the market but I also hate not trading on Mondays because I feel like I'm missing pips. Should I treat a Monday just like any other day?

Man, I can't wait for the day that I'm the guy answering noobie questions instead of the guy asking them.......

TTMarto

note: I'm reading this thread from the beginning for the umteenth time. Seems everytime I read through it I learn something else that I missed the previous times. Lol, that being said, If Monday prep has already been covered just let me know and I'll go find it. I hate asking questions that have already been covered........
  • #1,863
  • Dec 21, 2008 3:20pm Dec 21, 2008 3:20pm
TT,

Just treat monday as any other day. Monday is just a continuation of friday same as Tuesday is to Monday. The market moves in the same fashion on mondays as it does any other day. The fear factor you have to Monday is emotion based and should be dealt with ASAP. Emotion has no place in FX. My guess is that you may have bad trades on Monday and spend the rest fo the week playing catch up. This is common among most nebies to FX. What you must do is wait for a proper setup. Never rush into a trade. As I mention above you must think from both sides. I find monday are usually a little slower than the rest fo the week but thats about all. It simply take a little more time for the price to find its direction. If you cant overcome your fear towards Monday then its prob best you dont trade Mondays but instead stay on the sidelines and stupdy the Price Action.

FJ


Quoting TTMarto
One of the things I have learned on this thread is the importance of prepping before I begin trading and it has helped not only my trading, but my confidence as well as I begin a new trading session.

My question is what do you guys do different before the Monday sessions begin (if anything). I go through my regular routine but I'm not yet real confident on Mondays. Have you found that Mondays are generally a continuation of the previous Friday or should we have a defferent "fresh start" attitude on Mondays?

I HATE trading on Mondays because...
Stacking pips since 2002
  • #1,864
  • Dec 21, 2008 3:50pm Dec 21, 2008 3:50pm
Quoting forexjedi
TT,

Just treat monday as any other day. Monday is just a continuation of friday same as Tuesday is to Monday. The market moves in the same fashion on mondays as it does any other day.

FJ

FJ,

A soon as I read the first few lines of your reply I figured it out: If we are basing our strategy primarily on price action then the day of the week we are trading has basically no significance.

I'm not real sure why that wasn't obvious to me until I read your post. Probably just another example of me thinking too much. I gotta quit doing that!

Thanks!
TTMarto
  • #1,865
  • Dec 21, 2008 11:24pm Dec 21, 2008 11:24pm
Quoting forexjedi
V,

I suspect you may anticipate a bull continuation and im inclined to beliee the same. If the price doesnt clear the 38.2 retrace as you mention above on monday it is possible. However since the price did not make a 100.o retrace from previous long term bear run id also be inclined to think the price will continue in its bear trend. If the price does not hold at the 38 area we could see the 3200 area as a new bear toarget. If the price does hold and makes a bull continutation we could see the price rise back to the 4200 area. Monday will an interesting...
[/quote]

Hi jedi
I think 1.3880 could be a tough nut to crack with the combination of 38% retrace and the clear support from 11 Sep. On the upside we also stopped right on the 200 ema so Asian session didn't have legs to move this market.

I am prepared for either way up or down and am yet again reminded of a quote "I don't know what the markets going to do I only know what I'm going to do". As I do expect the possibility of some volatility I'll be looking to trade 1st force signal after the breakout. We've just had a move to 1.40 that failed at 2.50 am gmt.

In addition to normal force signal, a nice higher low/lower high, divergence, move above/below 1.40/1.3950 and retrace to that number (then have signal) would be very nice. Perhaps this is more conservative than some, no problem.

In a nutshell either way is fine!!
  • #1,866
  • Edited 4:21am Dec 22, 2008 4:06am | Edited 4:21am
Vantage and I have worked together on this to create audio alerts for basic and advanced force signals. I hope you all enjoy trying it out!

The basic signals are macd+stochastics+emas as well as all the stochastic overbought/oversold restrictions. Basic signals are less frequent than advanced signals for this reason. Basic signals are the most strict and require less discretionary decisions. I like basic signals best on confirmed S/R.

The advanced signals in this first version of AudioAlerts are the same as the basic signals except that the stochastic overbought/oversold restrictions have been ignored. Divergence is ignored completely for simplicity at this stage of development.

How to Install...

Save the AudioAlerts.mq4 below to the MT4\experts\indicators folder. Open the file and recompile. It is then ready to add as a Custom Indicator from the MT4 menu.

Attached File(s)
File Type: mq4 AudioAlerts.mq4   8 KB | 1,004 downloads



Note: AudioAlerts.mq4 is experimental software. No guarantees are expressed or implied. Use at your own risk.

Keep the Big Goal in Mind...

Please remember that indicators are only a means to an end. Indicators are only being used in The Force to train our eyes and our minds to intuitively understand price action. As Jedi teaches, long term reliance on indicators is not our goal.

Therefore this AudioAlerts indicator is only helpful in the sense that it can wake us up if we are not paying attention for some reason. The real trading decisions need to be made exactly as before. (1) s/r confirmation (2) wait for signal (3) stop in a meaningful position (4) money management appropriate... we all know the drill. That does not change.
  • #1,867
  • Dec 22, 2008 4:14am Dec 22, 2008 4:14am
Quoting robdee
Thanks Max for your feedback on my posts.

Layering indicators in MT4 can save valuable screen space (at least that's why I do it).

Open the Navigator Window, drill down to Indicators, drag and drop the selected indicator across to an existing indicator window to layer it on top.

Hope that makes sense. I'm sure you'll soon figure it out. RD
Thanks for instruction.
  • #1,868
  • Dec 22, 2008 7:35am Dec 22, 2008 7:35am
Quoting robdee
Vantage and I have worked together on this to create audio alerts for basic and advanced force signals. I hope you all enjoy trying it out!

The basic signals

The advanced signals

How to Install...

Save the AudioAlerts.mq4 below to the MT4expertsindicators folder. Open the file and recompile. It is then ready to add as a Custom Indicator from the MT4 menu.

Attachment

[indent][i]Note: AudioAlerts.mq4 is experimental software. No guarantees...
Thx Robdee and Vantage

cheers
  • #1,869
  • Dec 22, 2008 11:59am Dec 22, 2008 11:59am
I think Vantage and Robdee and Forexjedi for their dedication deserve a lot of respect..so I want to thank You for Your input in this strategy!!!
Marcel
  • #1,870
  • Dec 23, 2008 4:15am Dec 23, 2008 4:15am
Quoting robdee
Vantage and I have worked together on this to create audio alerts for basic and advanced force signals. I hope you all enjoy trying it out!

The basic signals are macd+stochastics+emas as well as all the stochastic overbought/oversold restrictions. Basic signals are less frequent than advanced signals for this reason. Basic signals are the most strict and require less discretionary decisions. I like basic signals best on confirmed S/R.

The advanced signals in this first version of AudioAlerts are the same as the basic signals except...

Rob, thanks for your efforts with this.

Just wondered - is there any way to turn off the arrows? They make a hell of a mess of the charts.

Cheers.
James The Beekeeper
  • #1,871
  • Dec 23, 2008 11:42am Dec 23, 2008 11:42am
Quoting edeyj999
Just wondered - is there any way to turn off the arrows?
To hide the arrows set the color of the arrows to same as your background color in the Colors tab of the indicator properties window.

Or to make a permanent change look for these two lines in the code...

#property indicator_color1 Blue // BUY alert arrows
#property indicator_color2 Red // SELL alert arrows

And change to the color of your choice, then recompile.

Note: I will add an option to the next version to enable/disable arrows printing on the chart.
  • #1,872
  • Dec 23, 2008 12:29pm Dec 23, 2008 12:29pm
Thanks for all the feedback on the AudioAlerts indicator.

I have added two new user settings in this update.
All the signal logic remains unchanged.

1. AlertSoundRepeats = 3
This is the number of times the WAV file will be played during an an alert, 0 = disable sounds.

2. ShowChartArrows = True
This enables or disables the printing of signal arrows on the price chart.

Please refer to instructions in the original post 1866
http://www.forexfactory.com/showpost...postcount=1866

This version of AudioAlerts.mq4 is 20081224.
Attached File(s)
File Type: mq4 AudioAlerts.mq4   8 KB | 664 downloads
  • #1,873
  • Dec 24, 2008 2:10am Dec 24, 2008 2:10am
Quoting robdee
Thanks for all the feedback on the AudioAlerts indicator.

I have added two new user settings in this update.
All the signal logic remains unchanged.

1. [b]AlertSoundRepeats...
That's great Rob, thanks. To be able to reduce the number of alert sounds was the next thing I was going to ask about.

Hope you have a great Christmas!
James The Beekeeper
  • #1,874
  • Dec 24, 2008 2:16am Dec 24, 2008 2:16am
Quoting robdee
Thanks for all the feedback on the AudioAlerts indicator.

I have added two new user settings in this update.
All the signal logic remains unchanged.

1. AlertSoundRepeats = 3
This is the number of times the WAV file will be played during an an alert,...
Thanks Robdee.

You can drop this macd divergence indicator over your macd coloured so you don't need the extra indicator box. As a line hugs the histo it does seem that it is a histo divergence indicator. It doesn't show the divergence line in the indicator box but still shows the divergence line over price and all arrows.

Just left click on indicator in navigator box, drag to macd coloured and release over macd coloured.
Attached File(s)
File Type: mq4 Divergence_MACD_FX5_V1.1.mq4   12 KB | 669 downloads
  • #1,875
  • Dec 24, 2008 2:49am Dec 24, 2008 2:49am
Quoting Vantage
Thanks Robdee.

You can drop this macd divergence indicator over your macd coloured so you don't need the extra indicator box. As a line hugs the histo it does seem that it is a histo divergence indicator. It doesn't show the divergence line in the indicator box but still shows the divergence line over price and all arrows.

Just left click on indicator in navigator box, drag to macd coloured and release over macd coloured.


Dont' forget to change settings 12 / 26 / 1 !!
Kino
  • #1,876
  • Dec 24, 2008 4:40am Dec 24, 2008 4:40am
Hope everyone enjoys the holidays and I'll see you all back on the 26th.

Take care and happy pip'n
A woman drove me to drink, and I forgot to thank her
  • #1,877
  • Dec 24, 2008 5:05am Dec 24, 2008 5:05am
hi FJ and all,

enjoy all the holidays.

hope everyone have a nice time

cheers
  • #1,878
  • Dec 25, 2008 12:45am Dec 25, 2008 12:45am
Merry Christmas!!To FJ and Everyone!!!GOOD BLESS YOU AND YOUR LOVE ONES!!!



NewAge
  • #1,879
  • Dec 25, 2008 12:28pm Dec 25, 2008 12:28pm
Merry Christmas and happy holidays all. Lets make many pips in 2009! Ill see everyone around Jan 2nd or Jan5th.

FJ
Stacking pips since 2002
  • #1,880
  • Dec 25, 2008 3:22pm Dec 25, 2008 3:22pm
Merry X-Mas and a Happy New Year to all.
See you all next year in the chat for the Big Pips.

cheers
robBroker
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