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5Min Intraday System

  • #521
  • Mar 15, 2007 1:26pm Mar 15, 2007 1:26pm
Quoting fxque
Phillip, thank you for the audio today, it was very helpful. One question though . . .

In post #485, you wrote that your settings on the SMAAngle indicator is:

50
0.15 (Angle Treshold)
2
0

But towards the very end of today's audio (about 6:10), you mentioned both .2 and .23 degrees. Please clarify the proper indicator setting.

Thank you kindly.
Hi fxque

I think what Phillip is refering to when talking about .2 & .23 on the mp3 is the horizontal line that you need to drawn/insert (manually) on the SMAangle indicator. It doesn't mean you are changing the setting of the indicator. My indicator's settings are still the same

I do have my red lines set as close as possible to 0.1 AND 0.2 as possible. See post#505 on page 34 for an explanation of my rules (summary of Phillip's system).

Attached an examples of my set-up and my 4th trade using this system (4 profit trades in a row). The fist with the thumb was my entry and exit 10 pips later.

Hope it helps.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #522
  • Mar 15, 2007 1:34pm Mar 15, 2007 1:34pm
This was my 3rd positive trade in a row - this time with the GBPU$

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #523
  • Mar 15, 2007 2:03pm Mar 15, 2007 2:03pm
Thank you Phillip and Willem. I changed the angle setting back to .15 and yes Phillip, it does not appear to change anything.
  • #524
  • Mar 15, 2007 2:41pm Mar 15, 2007 2:41pm
Hi Megaforex,

you can use the EA version on many charts you want. You must then change the magicnumber in the EA Inputs because with this magicnumber i control how many trades open and how many trades are this day done.

I have an version with an input for how many trades at the same time, but i find this not usefull because its easyer to increase the Lotsize.

The next version i will post middle of next week has lot more power and better results.

Cheers
Mobsie
  • #525
  • Edited 3:07pm Mar 15, 2007 2:57pm | Edited 3:07pm
Attached are my results of back testing the 5 min system for 2 weeks in Jan 2007. I've tried to include all possible trades.

77% positive trades
498 pips with 72 pips loss
Average of 13 pips per trade
Profit factor of 6.9 - excellent (see explanation of this on previous page or 2)

Not too bad for a intra-day system - for only the EUR$ pair. Currently I am demo trading the EURU$, GBPU$ & JYPU$. Will post results as they do come along.

Well done, Phillip.

Willem
Attached File(s)
File Type: doc 5 minute MA intraday analysis 200703015.doc   136 KB | 1,872 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #526
  • Mar 15, 2007 3:16pm Mar 15, 2007 3:16pm
Quoting Golfer
Hi Phillp

Could you please comment on Chandra's questions once your are back on this thread? I also would like to hear your comments because I am really interested in this system. A friend of mine and myself were looking for a system like this and this one definitely make sense to me. With the 4h MACD system, I want to take this further.

Willem
Hi Phillip

Tx for the mp3 file - make sense. I do enjoy trading this system - some mechanics and some personal intepretation/feel needed.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #527
  • Mar 15, 2007 10:06pm Mar 15, 2007 10:06pm
Hi Philip, this is a great system, thanks for sharing. Something to ask about the stop loss, you mentioned that the stop= 6+ spread , does it means that if i am trading E/U and my spread is 2 , the stop should be 6+2=8 pips?

what happened if this 8 pips stop is a bit far from the 21ema , will you take the trade? (because sometimes the price will pull back to 21 ema instead of 10ema , so if our stop is below the 21 ema ,for short trades , or above 21 ma for long trade, our stop might get hit before it touched the 21 ema , bounce back and resumes the trend.)


thanks
  • #528
  • Mar 16, 2007 4:20am Mar 16, 2007 4:20am
Hello Philip,
reaping the rewards of this simple system. Just took a gbpusd long +12, usdchf sell +13 and aususd long is currently at +8 with sl at b/e. Fantastic, and not difficult at all to identify the good trades after watching market action. Finished the day now with 39 pips, just took +14 on aususd. Thanks very much for sharing!
Never say never.
  • #529
  • Mar 16, 2007 5:10am Mar 16, 2007 5:10am
This time on eur , THANKS PHILIP, that makes another 13 for the day...
Never say never.
  • #530
  • Mar 16, 2007 5:37am Mar 16, 2007 5:37am
[quote=razldazl;245903]This time on eur , THANKS PHILIP, that makes another 13 for the day...[/quote

Hi Raz

Nice use of this method. Is there a recomended limit on how many pull backs to trade before it may be exhausted. I'm sure I read it or heard Phillip say.

Cheers and well done.
  • #531
  • Mar 16, 2007 5:41am Mar 16, 2007 5:41am
[quote=FOURX;245925]
Quoting razldazl
This time on eur , THANKS PHILIP, that makes another 13 for the day...[/quote

Hi Raz

Nice use of this method. Is there a recomended limit on how many pull backs to trade before it may be exhausted. I'm sure I read it or heard Phillip say.

Cheers and well done.
Hi four,
I would say the best time to use this is at the beginning of a new trend, when the 21 and 10 open up. It makes complete sense because it has to be quite strong at that point, and I would say take the second and third and watch out for daily highs and lows etc...but its really that simple. So once price crosses the 50 and the 50 ma is in place, ie at the 25 degree angle, use the Philip indicator to alert you to when its all beginning and watch carefully after that...happy pipping!
Never say never.
  • #532
  • Mar 16, 2007 9:23am Mar 16, 2007 9:23am
Info
Attached File(s)
File Type: zip 5 Min Strategy.zip   802 KB | 2,321 downloads
  • #533
  • Mar 16, 2007 9:35am Mar 16, 2007 9:35am
Copy the template to c:\program files\metatrader 4\templates
Attached File(s)
File Type: tpl 5minzone.tpl   5 KB | 1,320 downloads
  • #534
  • Mar 16, 2007 10:59am Mar 16, 2007 10:59am
is eur/usd short coming now? how you think?
  • #535
  • Mar 16, 2007 11:12am Mar 16, 2007 11:12am
Took one on the GbpUsd and let it run.
Attached Image
  • #536
  • Mar 16, 2007 11:25am Mar 16, 2007 11:25am
Quoting Phillip Nel
Took one on the GbpUsd and let it run.
Let us know how many pips you got . Eur/usd went off
  • #537
  • Mar 16, 2007 11:32am Mar 16, 2007 11:32am
Quoting Golfer
Hi fxque

I think what Phillip is refering to when talking about .2 & .23 on the mp3 is the horizontal line that you need to drawn/insert (manually) on the SMAangle indicator. It doesn't mean you are changing the setting of the indicator. My indicator's settings are still the same

I do have my red lines set as close as possible to 0.1 AND 0.2 as possible. See post#505 on page 34 for an explanation of my rules (summary of Phillip's system).

Attached an examples of my set-up and my 4th trade using this system (4 profit trades in a row). The fist with the thumb was my entry and exit 10 pips later.

Hope it helps.

Willem
Hi Willem,

I think the 0.2 or 0.23 Phillip has reffered in his MP3 was about the input to his PhilNelSignals (and to PhilipNel Expert). I feel it he wa not refering to horizontla line. The only reference he made for horizontal lines is of plus 0.1 and minus 0.1 Horizontal lines (He calles them "zero comma zero one").
One of the inputs to the Indicator is an Angle input (philNelSignals indicator, and also to PhilNel Experts EA). As per Philip, this input has to be set anywhere from 0,2 to 0,23.
-Chandra
  • #538
  • Mar 16, 2007 11:36am Mar 16, 2007 11:36am
Quoting traderis
Let us know how many pips you got . Eur/usd went off
I had a mental stop should it retrace of 25pips and that is what I took. Made 75Pips this week on the 5 min.
  • #539
  • Mar 16, 2007 11:39am Mar 16, 2007 11:39am
Quoting Phillip Nel
I had a mental stop should it retrace of 25pips and that is what I took. Made 75Pips this week on the 5 min.
You are trading with live account or demo? How much money have you made in this week from forex trading?
  • #540
  • Mar 16, 2007 11:45am Mar 16, 2007 11:45am
Quoting Mobsie
Hi Megaforex,

you can use the EA version on many charts you want. You must then change the magicnumber in the EA Inputs because with this magicnumber i control how many trades open and how many trades are this day done.

I have an version with an input for how many trades at the same time, but i find this not usefull because its easyer to increase the Lotsize.

The next version i will post middle of next week has lot more power and better results.

Cheers
Mobsie
Hi Mobsie, what does the Magic number in your PhilNel Experts Ea/ Please explain.
Thank you.
-Chandra
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