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The Force 5min system

  • #2,181
  • Feb 2, 2009 4:52pm Feb 2, 2009 4:52pm
A new week and a new month began with a new low for the year!

At 8:00 gmt the question of course was, "Will it bounce now ?"

The DB (double bottom) at 1.2706 had plenty of divergence under it. London Open also showed the bulls were ready for some action with a signal candle closing above the previous 24 candles and very little wick on top. All good signs. After the signal candle confirmed, price came back down into the emas before continuing on reaching +20 just 15 mins later.

However with plenty of bearish interest still in play a broad channel formed and it took 12 hours to climb 190 pips. This is an average of 16 pips per hour which I regard as a medium speed trend.

I could simply continue using my standard defensive play in this situation and it would do OK. However I would rather use my discretion to open up the throttle a bit - to suit the conditions.

Medium Trend Setup
 Wider stops and double profit targets
Trade in both directions

Keep same as Defensive Setup
 Always wait for signal candles to confirm
Do not open a new trade until existing trade is zero risk
Move stop to BE at +20 (ie zero risk)
After BE trail stop 20 pips behind chart price

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_02feb2009_mediumtrend.gif Size: 24 KB


Lessons I learned...

Wider stops give my trades room to breathe. Moving the stops just 5 pips wider outside the signal candle allowed a lot more trades to survive long enough to reach +20 (and zero risk). If I choke trades down with a tighter stop they get taken out too soon.

Trailing stops make sense here. Because I'm waiting for 3 lagging indicators to all line up my trades are almost always opening somewhere in the middle of a price channel. This means it is very likely if I leave my stops at BE they will get taken out at BE. I might as well grab the extra pips provided by a trailing stop. Plus when I do get a runner the stop follows along close enough to to satisfy my desire to grab those 'Whoosh pips'.

PS To see today's Medium Trend trades in full detail load this template into a new EURUSD 5min IBFX chart...
Attached File(s)
File Type: tpl robdee_02feb09.tpl   19 KB | 630 downloads
  • #2,182
  • Feb 2, 2009 4:54pm Feb 2, 2009 4:54pm
Alhadi,

I had the same problem when I tried to use FXCM as a demo account. I could not get it fixed and even tech. support could not help me. I use IBFX demo account as my chartting broker. It's nice and easy. I would give them a try.

Good Luck

Quoting alhadi_w



thx for replay but there is only one option set one to 5EMA open & 5EMA to close no other options and when i make it, it replace each other exactly with no space in between EMAs so now way to cross.

any other help!

A woman drove me to drink, and I forgot to thank her
  • #2,183
  • Feb 2, 2009 5:03pm Feb 2, 2009 5:03pm
Quoting robdee
Lessons I learned...

Wider stops give my trades room to breathe. Moving the stops just 5 pips wider outside the signal candle allowed a lot more trades to survive long enough to reach +20 (and zero risk). If I choke trades down with a tighter stop they get taken out too soon.

Trailing stops make sense here. Because I'm waiting for 3 lagging indicators to all line up my trades are almost always opening somewhere in the middle of a price channel. This means it is very likely if I leave my stops at BE they will get taken out...
Yes i been learning that also and have been doing what you say just put 5 pips higher/lower then the signal candle and you save yourself a good amount of times. I hated it hitting my SL by 1 pip then goes in the direction of the signal by 20pips. Its like the whole market knows were my stop is there so they just laugh at me and hit my SL then do what i want.

2 trades i have done since Sydney open yelling me about 30pips.
Time is what keeps everything from happening "right now".
  • #2,184
  • Edited 7:58pm Feb 2, 2009 7:57pm | Edited 7:58pm
Quoting robdee
PS To see today's Medium Trend trades in full detail load this template into a new EURUSD 5min IBFX chart...
Robdee,

Where should we place your templates? I'm with FXDD and have tried placing them in nearly every folder, including the template folder, and they just don't show up.

Thanks, Discipulo
  • #2,185
  • Feb 2, 2009 8:50pm Feb 2, 2009 8:50pm
Quoting FX_Discipulo
Where should we place your templates? I'm with FXDD and have tried placing them in nearly every folder, including the template folder, and they just don't show up.
That's right, TPL files go in the MT4\templates folder. Then right-click the chart, select Templates from the menu, then you'll see a list of templates you can apply to the chart.

Your FXDD charts are 2 hrs different from the IBFX charts. You should consider using IBFX demo for your charting as in this post 2078. I switched to IBFX for all my charting, not for my trading.

http://www.forexfactory.com/showpost...postcount=2078
  • #2,186
  • Feb 2, 2009 9:10pm Feb 2, 2009 9:10pm
Quoting eagle47
Robdee, can you post the link for the chatroom that you and many others are using? Thanks a lot.
The link for the web-based chat is in Post #1 also in ForexJedi's signature.

To use a real IRC chat program see my connection info in post 1995.
http://www.forexfactory.com/showpost...postcount=1995
  • #2,187
  • Feb 2, 2009 11:16pm Feb 2, 2009 11:16pm
Thanks Rob, I'll try it again. I tried that one and only a few were in it or I would see no one. I use to see you and some others, hardly do any more. Maybe it's just the time I am in it or maybe even my connection. Thanks a lot.
  • #2,188
  • Feb 2, 2009 11:35pm Feb 2, 2009 11:35pm
Quote
You must be loading something wrong, the best might be to download from this thread a template from Robdee. Or the one attached. This has Rob's first audio alert on.

Cheers V.

I'm sure that I didn’t loading any thing wrong, but maybe this is what FXCM plat form cause, but in any way I will load the "Robdee "force 5 min.tpl " and I hope it will work.

Again thank u " Vantage"

  • #2,189
  • Feb 2, 2009 11:58pm Feb 2, 2009 11:58pm

simpleguy

Quote
Alhadi,

I had the same problem when I tried to use FXCM as a demo account. I could not get it fixed and even tech. support could not help me. I use IBFX demo account as my chartting broker. It's nice and easy. I would give them a try.

Good Luck


As you said, I think its butter to try some setting in the metatrader pro.. but the problem its always requesting me to make new installation for the program after 30 days. , I hope I will get a version that do not expired to not lose the settings.

Thank you

  • #2,190
  • Feb 3, 2009 12:15am Feb 3, 2009 12:15am
Quoting eagle47
Thanks Rob, I'll try it again. I tried that one and only a few were in it or I would see no one. I use to see you and some others, hardly do any more. Maybe it's just the time I am in it or maybe even my connection. Thanks a lot.
Try this ink http://embed.mibbit.com/?channel=%23the_force_5m
Cheers V
  • #2,191
  • Edited 6:33pm Feb 3, 2009 12:48am | Edited 6:33pm
Ok so another very good day today =-]

Started: 5pm EST
Today i made over 100pips and a very good win to loss ratio
8 trades taken
6 winners
1 loser -10pips
1 Break Even +0

Here is my chart. I tried lol. (Spread has been counted on each trade)


http://i41.tinypic.com/2qn1i5z.gif
Time is what keeps everything from happening "right now".
  • #2,192
  • Feb 3, 2009 1:37am Feb 3, 2009 1:37am
hi dv84

can you put on a indicator

http://i41.tinypic.com/2qn1i5z.gif[/quote]
  • #2,193
  • Edited 10:00am Feb 3, 2009 7:21am | Edited 10:00am
Hi all ,,

I have downloaded this indi from one of the Forums in FF but i am not sure which thread, any way thank for the one who created it, and thanks to all people in here
Attached File(s)
File Type: mq4 FX5_MACD_Divergence_V1.1.mq4   12 KB | 620 downloads
  • #2,194
  • Edited 11:45am Feb 3, 2009 11:28am | Edited 11:45am
Hi,

In a continued effort to expand and always become a better trader I am releasing earlier than planed an edition to the force setup family. Below are the details for the "force fibo scalper". This is a method that has a 99.9% success rate of gaining at least 10 pips per trade over a three month testing period. The idea is simple take bounce of fib levels based on previous days direction.

Details

- Use the force advanced signals as trade confirmation
- Draw fribs in the direction of the previous daily candle from low to high or vice versa
-trade full advanced signals of the respective fibs points
-take 80% profit at 10 pips set stop to BE and let the rest run as long as possible. Best time to close the rest is on a signal in the opposite direction.
- SL is below fib level of bounce. I place mine at 10 pips and calculate the lot size to 1% according stop vs entry.
There is a chart below for a visual.
Attached Image (click to enlarge)
Click to Enlarge Name: fibs up.gif Size: 32 KB
Stacking pips since 2002
  • #2,195
  • Feb 3, 2009 11:42am Feb 3, 2009 11:42am
forexjedi u the man =-]
Thank you for sharing your information with us. I have been loving this thread ever since i have gotten into it.


****Just got +40pip on this eu drop while writing this message =-].
Check the signal bar at 12:05pm EST***

I will be trying this out starting today.
Time is what keeps everything from happening "right now".
  • #2,196
  • Feb 3, 2009 11:53am Feb 3, 2009 11:53am
Traders,

Its hard for me to know how well im doing or how valuable people find my systems and thread without some solid feeback. I would appreciate it if people could rate my thread and also vouch for me. It give me an idea of how people are really taking to my data. Many thanks!

FJ
Stacking pips since 2002
  • #2,197
  • Feb 3, 2009 12:15pm Feb 3, 2009 12:15pm
Dear fellows, there is a potential buy signal forming. As far as the stoch is concerned, it's already oversold for almost an hour. Besides EU is facing a support level.
Attached Image (click to enlarge)
Click to Enlarge Name: force1.gif Size: 26 KB
  • #2,198
  • Feb 3, 2009 1:04pm Feb 3, 2009 1:04pm
Quoting forexjedi
Traders,

Its hard for me to know how well im doing or how valuable people find my systems and thread without some solid feedback. I would appreciate it if people could rate my thread and also vouch for me. It give me an idea of how people are really taking to my data. Many thanks!

FJ
Done. You deserve every single 5 star given! Thank you for opening my eyes to world of profitable trading. You don't need the fancy indicators, 20+ EMAs and other useless crap on a chart. Stick to the basics, and you'll be surprised at the result.

If I could suggest one thing to people that are fairly new in Currency Trading: Step back and think about what you are doing... There is NO 'get rich quick' scheme, there is no holy grail. Trading takes hard work, and perseverance, and when you finally realize that, you will start earning back all that money you wasted away searching. As the audience around here is mostly FORCE devotees, this advice is most likely coming onto deaf ears. But for those strangers lurking around.. Take it for what is is worth!

On a completely unrelated note. FJ - How do you handle basic signals that occur underneath/above key support and resistance lines..? For example. Price action continues downward to find support 10 pips under the Weekly pivot. It plays up to the pivot and bounces. A long signal is fired. Should we be looking for price action above the pivot for confirmation and take the long at the point, or should we be discounting the signal all together?
Regards, M. "No one ever went broke by taking a profit"
  • #2,199
  • Feb 3, 2009 1:57pm Feb 3, 2009 1:57pm
S,

I appreciate the complements youve mentioned below. You are correct when you state strading is hard work backed by persererence. The answer to your question is simple. Trade in the direction of the previous day or even simpler if your not sure about the trade or dont feel right about it dont do anything. Instead observe what happens. All trading setups can be rated on a level of risk and eventually you will se them all. At that point you will know what to do. For example recently the price had bounced of the weekly pivot. I wasnt sure if it would go up so I did not take that trade. What happened? The price went back up to the daily high. At the moment it has stalled there. What happend was this. The price made a daily high, retraced to 38% fib level. At the 38% fib level more than half the market volume decided this was a good place to buy and now the price has gone back to todays high. Result a solid trade. You can get them all however. I will probably miss about 1 or 2 good trades a day wich equates to about 100 pips. To sum everything up I found that the PA around the WP to be a little unstable. Prob due to contued bear pressure from recent lows. The short term range at the WP turned me of to taking that long. From experience I find that its best to stay away from that sort of PA.


Quoting sirkeen
Done. You deserve every single 5 star given! Thank you for opening my eyes to world of profitable trading. You don't need the fancy indicators, 20+ EMAs and other useless crap on a chart. Stick to the basics, and you'll be surprised at the result.

If I could suggest one thing to people that are fairly new in Currency Trading: Step back and think about what you are doing... There is NO 'get rich quick' scheme, there is no holy grail. Trading takes hard work, and perseverance, and when you finally realize that, you will start earning back all that...
Attached Image (click to enlarge)
Click to Enlarge Name: 5minchartnew.gif Size: 24 KB
Stacking pips since 2002
  • #2,200
  • Feb 3, 2009 2:15pm Feb 3, 2009 2:15pm
Jedi,

This thread is amazing and is helping like I can't even put into words. I don't see a poll to rate it though.
A woman drove me to drink, and I forgot to thank her
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