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5Min Intraday System

  • #561
  • Mar 17, 2007 11:41pm Mar 17, 2007 11:41pm
Quoting Phillip Nel
Thanks
I have read about everything on this Forexfactory forum. I have also study the James16. Are using some of it in my 4Hour strategy. I have been papertrading for two years reading and studying anything I could lay my hands on before starting to trade for real. There are a lot of scams out there. Have been on a lot of forums but did not participate due to the nastiness of those forums. Everyone turns out dirty somehow. This forum is the best that is out there. People does not hesitate to give there strategy so that other may benefit from it. I have learned so much the last two months on this forum and that is why I am giving something back because I believe that by giving one recieves.
.

Hi EVERYBODY EXCEPT PHILLIP,
The above quote is a very early posting by Phillip (page #3, post #33).
Did we not live up to his expectation? YES we did .
-Chandra
  • #562
  • Mar 18, 2007 12:03am Mar 18, 2007 12:03am
Chandra & All,

Here is a link to a chart that has all time zones of the world- http://wwp.greenwichmeantime.com/info/time-zones.htm
  • #563
  • Mar 18, 2007 1:05am Mar 18, 2007 1:05am
Quoting Phillip Nel
This strategy is for fulltime daytraders. One can however trade news with it as long as the motion satisfy the setup and rules. TOne can also sit in front at certain times like the Eastern, London and Amreican open and watch for an hour.
Good luck
Phillip, again this post of yours prompting me to ask you this question. As I cannot stay with the computer 24 hours, I want to trade only at the opening of the Easter, London and Amrican sessions. Now what are the session timings for these?
Thanks.
-Chandra
  • #564
  • Mar 18, 2007 3:42am Mar 18, 2007 3:42am
Quoting Chandra
Phillip, again this post of yours prompting me to ask you this question. As I cannot stay with the computer 24 hours, I want to trade only at the opening of the Easter, London and Amrican sessions. Now what are the session timings for these?
Thanks.
-Chandra
Hi Chandra

Outlined below is a graphic, from oanda, representing the trading hours of the major markets (GMT +2). I have placed red rings around the times that are most volatile - usually when more than one market is open simultaneously and also at times of major news announcements.

There is one market that is not represented on the graphic - the European market opens 1 hour prior to London and often strong moves are initiated at this time.

I stay away from the market typically after London closes and usually don't trade the late US session.

Thanks.
Attached Image
  • #565
  • Mar 18, 2007 5:22am Mar 18, 2007 5:22am
Quoting Phillip Nel
Copy the template to c:\program files\metatrader 4\templates
hi i get this when i try to open the file
can some one help?
http://shell.windows.com/fileassoc/W...soc_Header.jpg

Windows has the following information about this file type. This page will help you find software needed to open your file.


File Type: Microsoft Active Server Page
File Extension: .asp
Description: This file is used by a web server to dynamically create a web page.

Software or information available at:

  1. Microsoft Visual InterDev




Have questions? See these Frequently Asked Questions.

Copyright 2007 Microsoft Corporation. All rights reserved. Terms of Use | Disability/accessibility | Privacy Statement

  • #566
  • Mar 18, 2007 7:04am Mar 18, 2007 7:04am
Quoting Mobsie
Hi matrixebiz,

yes there is my EA called PhillNelExpert you can find in this thread.

But soon i post an new version.

Cheers
Mobsie


Where can i find the EA, if you dont mind?
  • #567
  • Mar 18, 2007 7:08am Mar 18, 2007 7:08am
Quoting barney
hi i get this when i try to open the file
can some one help?
Hi Barney

Don't try open the file, rather copy it into the folder specified by Phillip and then use MT4 (Metatrader) to open it. Once you have copied it into the 'template' folder - restart MT4, open a new M5 chart for eur/usd or cable and then place the cursor on the chart, right click and select the "template' menu item. This will give you a drop down list of available templates and you can then select the one you have just saved.

I hope this helps...if not let me know.

Thanks
  • #568
  • Mar 18, 2007 7:34am Mar 18, 2007 7:34am
Quoting Pinggarcia
Where can i find the EA, if you dont mind?

If you go on the main page "Trading System" and click on the http://www.forexfactory.com/images/misc/paperclip.gif at right side of the "5 min trading intraday system" you find all the attachment of thi thread.

Then you have to find the PhilExpert.ex4

good luck,

Mat
  • #569
  • Mar 18, 2007 9:56am Mar 18, 2007 9:56am
Hi everyone

Actually I've made a file word that try to summarize also this winning strategy with all the chart attached.

It is useful to print the file and to study it without being in front of the pc or to read it without being connected to the net

You can download it form this free webhosting site (it is almost 2,5 mb)

Hope that it help

http://rs22cg2.rapidshare.com/files/...s_strategy.zip
  • #570
  • Mar 18, 2007 12:15pm Mar 18, 2007 12:15pm
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.
Wow! That is great! Although many people may think 75 pips is OK, I think that is GREAT. Mainly because of the low risk 6pips + 2 pips spread = 8 pips risk per trade. If you were risking 25 - 50 pips to get 75, that is a completely different story. I know Phil said he is only using 1 lot, but let's look at it from another angle. If you were trading as efficiently as Phil, and risking an exceptable 3% of your account on this trading method. Then it would work out like this, using a $5,000 account.

$5,000 * 3% = $150 per trade risk / 8pips risk = 18.75 mini lots
That equalls $18.75/pip.

If you traded with that size all week without adjusting, then by the end of the week you would have made: $18.75/pip * 75 pips = $1406.25 in one week.

Maybe this was a good week, maybe it was average. Let's assume that Phil is an above average trader (I think that is already established), and he is able to get 75 pips every week for a month. If he never adjusted his lot size to accomodate his growing equity and just stuck with the $18.75/pip, then after 1 month it would look like this: $1406.25 * 4 weeks = $5225.00

That is why I say WOW!!! That is more than doubling the account in 1 month.

Now, before everyone starts drooling, let me inject some reality. Phil is getting these pips because (I assume) he is adhearing to good trading practices. Among those is confidence in his system & perhaps more importantly, a comfort level with his trading size. (I am not trying to speak for Phil, but just pointing out what appears to be going right for him, so we can all benefit) Scaling up your trading beyond your comfort level will cause you to do bad things, like abandon your perfectly good system & thus not earn the pips you would have made using smaller lots. While 3% is considered fairly reasonable, it is only reasonable if you are comfortable losing that much money if the trade goes bad on you, or if you make a mistake & lose out on that trade. Could Phil make more? Sure, he could risk higher amounts, but that is not what makes good trading. Consistent profitibility, even if it is conservative, is what makes good trading. Remember, scale up slowly and this will keep you from making mistakes that you know you should avoid.

I say THANKS! to Phil, for not only showing us a good system, but also for showing us that it can be done.
  • #571
  • Mar 18, 2007 12:42pm Mar 18, 2007 12:42pm
I forgot to mention leverage. At the numbers in the example above, that would be almost 100:1 leverage. Actually using that kind of leverage should be another clue you are in too deep. Oanda only allows 50:1 max leverage, which no doubt keeps people from going too crazy. Risking 3% and only hitting 20:1 or even up to 50:1 leverage is probably a lot more reeasonable and more prudent, rather than running up to 100:1 leverage.

Just wanted to add that to my last post.
  • #572
  • Mar 18, 2007 1:04pm Mar 18, 2007 1:04pm
Quoting fxjourney
Hi Barney

Don't try open the file, rather copy it into the folder specified by Phillip and then use MT4 (Metatrader) to open it. Once you have copied it into the 'template' folder - restart MT4, open a new M5 chart for eur/usd or cable and then place the cursor on the chart, right click and select the "template' menu item. This will give you a drop down list of available templates and you can then select the one you have just saved.

I hope this helps...if not let me know.

Thanks
thanks for taking the time to answer my question,

i have now got the indicator in the template box but when i click on it the whole sreen just closes down,

any answers????
  • #573
  • Mar 18, 2007 2:24pm Mar 18, 2007 2:24pm
Quoting barney
thanks for taking the time to answer my question,

i have now got the indicator in the template box but when i click on it the whole sreen just closes down,

any answers????
Hi again

Yes, I had the same problem. I rebuilt my own template and will post it here with instructions for installation in MT4.

I'll post these shortly.
  • #574
  • Mar 18, 2007 2:59pm Mar 18, 2007 2:59pm
Quoting fxjourney
Hi again

Yes, I had the same problem. I rebuilt my own template and will post it here with instructions for installation in MT4.

I'll post these shortly.
OK, there are 3 files you require to run a chart:

1. 5min intraday method.tpl - this is the template file
2. PhilNelSignals.ex4 - the indicator that paints entry signals on the chart
3. SMAAngle.ex4 - the indicator that works in conjunction with 2.

First and foremost - special thanks to Dariuske for the development of the indicators.

File 1. must be copied into the 'template' folder of MT4
File 2. and 3. must be copied into the 'experts/indicators' folder

Once you have done this restart MT4 and open a new eur/usd or cable chart. Then place the cursor on the chart and right click - select 'templates' and then select the 5min intraday method' template. MT4 will do the rest.

Please let me know if you have problems.

Thanks
Attached File(s)
File Type: tpl 5min intraday method.tpl   2 KB | 2,397 downloads
File Type: ex4 PhilNelSignals.ex4   4 KB | 2,331 downloads
File Type: ex4 SMAAngle.ex4   3 KB | 2,155 downloads
  • #575
  • Mar 18, 2007 3:05pm Mar 18, 2007 3:05pm
Once the template is loaded you should have a chart that looks something like the 5 min chart of cable attached below...
Attached Image
  • #576
  • Mar 18, 2007 3:09pm Mar 18, 2007 3:09pm
Quoting fxjourney
Once the template is loaded you should have a chart that looks something like the 5 min chart of cable attached below...

Very nice work.....thank you for your contrbutions,,,,
Same Whore .... Different Dress
  • #577
  • Edited 3:39pm Mar 18, 2007 3:18pm | Edited 3:39pm
The green vertical lines shows when the 21EMA on the angle indicator is above or below 0.1 or -0.1 indicating that it is time to look for an entry.

On the EurUsd alone 110 pips was possible if you were very active. You can work out which times you would have been able to trade and the amount of pips you would have made.
Attached Images
  • #578
  • Mar 18, 2007 3:20pm Mar 18, 2007 3:20pm
Info
Attached Images
  • #579
  • Mar 18, 2007 3:26pm Mar 18, 2007 3:26pm
Info
Attached Image
  • #580
  • Mar 18, 2007 4:20pm Mar 18, 2007 4:20pm
I saw in the downloads for this thread the .pdf file on how to add the MA to the SMA Angle window. It says in the Parameters section to click on "First Indicators Data". However, I do not have that option in my list of choices. Is there another MA indicator I need? If so, where can I find it?
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