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5Min Intraday System

  • #601
  • Mar 19, 2007 10:12pm Mar 19, 2007 10:12pm
Quoting fxjourney
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.
One clarification about the market timings, please. Is the Sydney time of open on March 19th Monday (March 19, 0:00 AM) is it your GMT+2?
Thanks.
-Chandra
  • #602
  • Mar 19, 2007 11:32pm Mar 19, 2007 11:32pm
Quoting Chandra
Thank you very much for thr time-graphic.
It looks like it is a program where you can set youd local time (GMT=2, etc.).
Is that executable available any where?
Thanks again.
-chandra.
Hi

The applet can be found at oanda - under fx labs. Yes, you can set your local time.

If you are not familiar with oanda's web address just do a google search.
  • #603
  • Mar 19, 2007 11:35pm Mar 19, 2007 11:35pm
Quoting Chandra
One clarification about the market timings, please. Is the Sydney time of open on March 19th Monday (March 19, 0:00 AM) is it your GMT+2?
Thanks.
-Chandra
Hi

Correct - midnight GMT+2
  • #604
  • Mar 20, 2007 1:04am Mar 20, 2007 1:04am
- If clear buy or sell signal gbpusd, place immediate trade for eurusd in
same direction regardless of signal and place trade in opposite direction for usdchf regardless of signal.

- If clear buy or sell signal eurusd, place immediate trade for gbpusd in same direction regardless of signal and place trade in opposite direction for usdchf regardless of signal.

- If clear buy or sell signal usdchf, place immediate trade for gbpusd and eurusd in opposite direction regardless of signal.
  • #605
  • Mar 20, 2007 2:51am Mar 20, 2007 2:51am
Phil,

This morning on GBP around 6:10 GMT price broke through to the 50 MA then bounced back across the 10 and 21 to the upside. When the 21 MA broke above +0.1 price was bouncing off the 50 MA for the second time, breaking through the the 21 and 10. As price is entering the entry zone for a trade from below, would you take this as a valid entry? Or does price have to move into the zone from above in an uptrend for the trade to be valid?

Thanks
Attached Image
  • #606
  • Mar 20, 2007 3:14am Mar 20, 2007 3:14am
Quoting Porkpie
Phil,

This morning on GBP around 6:10 GMT price broke through to the 50 MA then bounced back across the 10 and 21 to the upside. When the 21 MA broke above +0.1 price was bouncing off the 50 MA for the second time, breaking through the the 21 and 10. As price is entering the entry zone for a trade from below, would you take this as a valid entry? Or does price have to move into the zone from above in an uptrend for the trade to be valid?

Thanks
Not a valid entry.

Price has to move into the zone (in this case uptrend) with a greater then 20% angle on the 50 sma.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #607
  • Mar 20, 2007 3:45am Mar 20, 2007 3:45am
Quoting Chandra
One clarification about the market timings, please. Is the Sydney time of open on March 19th Monday (March 19, 0:00 AM) is it your GMT+2?
Thanks.
-Chandra
Chandra,

Have look at #267 Bagovino Method.
Why don't you use use google to find time zone info?

regards
Attached Image
  • #608
  • Mar 20, 2007 5:41am Mar 20, 2007 5:41am
Hi

I took this two trades this morning.

I closed the first one with ten pips profit and the second one is still running.


Happy trading to everyone
Attached Image
  • #609
  • Mar 20, 2007 5:48am Mar 20, 2007 5:48am
....your first entry hasn't a good SMA-angle or better it inclines as 0, but it worked
  • #610
  • Mar 20, 2007 6:18am Mar 20, 2007 6:18am
Quoting kunz78
Hi

I took this two trades this morning.

I closed the first one with ten pips profit and the second one is still running.


Happy trading to everyone

Kunz,

the red symbol that indicates the trade entry, is it automatically generated? I downloaded PhilNelSignals indicator from post #574 but it is not drawing all the trades. Actually it misses a lot of them. What are you using?
  • #611
  • Mar 20, 2007 7:09am Mar 20, 2007 7:09am
Has anyone traded this method using longer time frames, such as 30m, 60m, 4hr, and if so, what are recommended settings?
  • #612
  • Mar 20, 2007 9:28am Mar 20, 2007 9:28am
YES.... I use 11 WMA, and 50 WMA across all timeframes......works great. just expand the SL & TP to 25 & 75 on the 2 hr charts and above.
Same Whore .... Different Dress
  • #613
  • Mar 20, 2007 9:55am Mar 20, 2007 9:55am
Quoting alcastro
RAZLDAZL,

which hours have worked for you? Which pairs are you trading?

I will do as you suggested to Chandra. Download the indicator and see where the signals tend to be more frequent, and try to focus at that time.

Gracias amigo.
Hola amigo
Well, I am looking at them all, basically because I get bored waiting for signals...but its not a good idea to jump around so Im trying to focus on eur and swissy. Aussie has given good signals and I just took a nice cad. BUT you have to be patient. I have jumped in too quickly a couple of times and paid dearly for it...so listen for the alert and then watch for the next good entry is my advice. ps Im still not convinced that small timeframes are my bag so lets see
Never say never.
  • #614
  • Mar 20, 2007 10:14am Mar 20, 2007 10:14am
I took this trade just after I came home. I start to like the UsdJpy for the 5 min as well.
Attached Image
  • #615
  • Mar 20, 2007 10:53am Mar 20, 2007 10:53am
There would have been a wrong trade on the GbpUsd at 9:55. I missed that on the MP3.
Attached File(s)
File Type: zip 5 Min Strategy.zip   552 KB | 1,450 downloads
  • #616
  • Mar 20, 2007 11:07am Mar 20, 2007 11:07am
Quoting kunz78
Hi

I took this two trades this morning.

I closed the first one with ten pips profit and the second one is still running.


Happy trading to everyone
Hi Kunz.

Nice trades, well done.But please explain.

The 1st trade you took the 50ma had hardly got below flat, what was your basis for taking the trade?

Even the 2nd trade the Philnel signal didn't alert, or have I got it set up wrongly.

Cheers
  • #617
  • Mar 20, 2007 11:09am Mar 20, 2007 11:09am
Quoting jarroo
Not a valid entry.

Price has to move into the zone (in this case uptrend) with a greater then 20% angle on the 50 sma.

Jim
Thanks Jarroo, I think we have the angle on 50 there shown clearly by the green bars anmd price has moved into the trade zone. I am still confused can you or anyone clarify please.
Thanks
  • #618
  • Mar 20, 2007 11:31am Mar 20, 2007 11:31am
Quoting Phillip Nel
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.
Phillip,
In this 5-minute strategy:
(i) I know the 21 MA on the SMAAngle window represent the 21 MA of the values of the vertical bars in that window. But what does the vertical bars themselves represent?
(ii) We start looking for an entry when the 21MA is above 0.1 line (or, it is below -0.1 line). Does it mean the vertical bar is also above the 0.1 line (or below the -0.1 line)?

I think my doubt #(ii) raised in me because I do not know what these vertical bars represent.
Sorry for so many doubts on what seems to be a simple system, but, again, the doubts are there .
I appreciate your response.
-Chandra
  • #619
  • Mar 20, 2007 11:50am Mar 20, 2007 11:50am
Quoting Chandra
Phillip,
In this 5-minute strategy:
(i) I know the 21 MA on the SMAAngle window represent the 21 MA of the values of the vertical bars in that window. But what does the vertical bars themselves represent?
(ii) We start looking for an entry when the 21MA is above 0.1 line (or, it is below -0.1 line). Does it mean the vertical bar is also above the 0.1 line (or below the -0.1 line)?

I think my doubt #(ii) raised in me because I do not know what these vertical bars represent.
Sorry for so many doubts on what seems to be a simple system, but, again, the doubts are there .
I appreciate your response.
-Chandra
I dont use them at all. Only when the 21EMA moves below -0.1 or above 0.1 I look for an entry.
  • #620
  • Mar 20, 2007 12:09pm Mar 20, 2007 12:09pm
Quoting FOURX
Hi Kunz.

Nice trades, well done.But please explain.

The 1st trade you took the 50ma had hardly got below flat, what was your basis for taking the trade?

Even the 2nd trade the Philnel signal didn't alert, or have I got it set up wrongly.

Cheers
I took the first one because we were at the beginning of a down trend movement even if the 50 ma angle was not so good

The second the ma was good but i closed it at BE.

I'm not relying on the indicator. It give me too many signal.
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