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5Min Intraday System

  • #661
  • Mar 22, 2007 11:36am Mar 22, 2007 11:36am
Hope you saw it. Just took 12 pips
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  • #662
  • Mar 22, 2007 12:23pm Mar 22, 2007 12:23pm
Quoting Phillip Nel
Hope you saw it. Just took 12 pips
Hi Phillip

I had the same trade - just - I didn't see the little sisters. I was a bit worried about a break above 50MA.

Enter @ 16:25 1.9681 TP @ 16:30 1.9671. I was thinking of letting the trade run but I was not comfortable with set-up??????

I am satisfied with 10pips profit.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #663
  • Mar 22, 2007 12:29pm Mar 22, 2007 12:29pm
I took this one one USD CHF

entered at 1.2150 exit at 1.2165

15 profit
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  • #664
  • Mar 22, 2007 1:22pm Mar 22, 2007 1:22pm
Hi Phillip

Would you consider a short trade like this - if the move is slowly upwards?

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #665
  • Mar 22, 2007 1:24pm Mar 22, 2007 1:24pm
Quoting kunz78
I took this one one USD CHF

entered at 1.2150 exit at 1.2165

15 profit
Hi Kunz78

Great trade - I see you do love that pair. Any reason why? I haven't look at it.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #666
  • Mar 22, 2007 1:48pm Mar 22, 2007 1:48pm
After chasing ghosts in FOREX, I have been following this system since the beginning, and it has been working out very well. I recommend we start a chatroom or live conference system for live trading this system.

I would be happy to look into it if there is interest.

Tropic
  • #667
  • Edited 2:55pm Mar 22, 2007 2:28pm | Edited 2:55pm
Quoting Golfer
Hi Phillip

Would you consider a short trade like this - if the move is slowly upwards?

Willem
Attached the outcome of the short EUR$ trade. Entered @ 18:19 1.3330. 3rd negative trade so far.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #668
  • Mar 22, 2007 3:22pm Mar 22, 2007 3:22pm
Quoting Golfer
Attached the outcome of the short EUR$ trade. Entered @ 18:19 1.3330. 3rd negative trade so far.

Willem
It was one of those setups that looks OK eventually. Look at the 21EMA flattening out. If there is no movement in 5-6 bars get out as close to breakeven as possible.
  • #669
  • Mar 22, 2007 3:51pm Mar 22, 2007 3:51pm
Quoting Phillip Nel
It was one of those setups that looks OK eventually. Look at the 21EMA flattening out. If there is no movement in 5-6 bars get out as close to breakeven as possible.
Tx Phillip

Also that slow upward movement bothered me meaning that nothing is really going on. But one cannot just count/go on that alone. That is why I took a 2pips losess rather than waiting for my SL of 10pips to be triggered.

I do like that "no movement for 5-6 candles" idea and get out as close to BE as possible.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #670
  • Mar 22, 2007 4:06pm Mar 22, 2007 4:06pm
Quoting Golfer
Hi Phillip

Yesterday and today I did miss a few nice trades because one tends to concentrate on too many pairs. I think one should concentrate on just the EUR$, cable and JPY$.

In future, I am also going to use a buy/sell limit order rather than a market order. Once a chart/pair comply with my rules, I am going to put a buy/sell limit order (to enter correctly) at just above/below 21MA. I tend to miss by entries by a pip or two when using market orders.

Obviously one needs to changes the orders as the chart changes (value of 21MA changes).

How do you enter your trades?

WIllem
hi, will

i know what a limit order is , what is a market order

thanks

gary
  • #671
  • Mar 22, 2007 4:18pm Mar 22, 2007 4:18pm
Quoting Golfer
Attached the outcome of the short EUR$ trade. Entered @ 18:19 1.3330. 3rd negative trade so far.

Willem
hi,

i forget to ask ,

was ,nt the 50 sma to flat for a trade?

thanks

gary
  • #672
  • Mar 22, 2007 4:25pm Mar 22, 2007 4:25pm
Quoting Golfer
Hi Kunz78

Great trade - I see you do love that pair. Any reason why? I haven't look at it.

Willem

$/CHF and $/Y are my favourite pair.
No specific reason. I find the best trade with this two pair.
From the next week i'll try to keep a journail of my trades

Ciao
  • #673
  • Mar 23, 2007 12:54am Mar 23, 2007 12:54am
Can someone please link me to the meta trader file that places the dots on my charts when an optimal buy or sell set up occurrs.
Thanks
  • #674
  • Mar 23, 2007 1:13am Mar 23, 2007 1:13am
Quoting kunz78
$/CHF and $/Y are my favourite pair.
No specific reason. I find the best trade with this two pair.
From the next week i'll try to keep a journail of my trades

Ciao
Hi K78

Tx for the info.

I do keep a journal in Excel format - unfortunately Excel files cannot be posted. I'll transfer it to a Word document and post it later today (late afternoon South African time).

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #675
  • Mar 23, 2007 1:18am Mar 23, 2007 1:18am
Quoting barney
hi, will

i know what a limit order is , what is a market order

thanks

gary
Hi gary

A market order is when you enter (buy/sell) the market immediately with an order to your broker (the current spot price). A limit or stop order is where you hope the price will go and then enter your trade.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #676
  • Mar 23, 2007 1:23am Mar 23, 2007 1:23am
Quoting sparkyd
After chasing ghosts in FOREX, I have been following this system since the beginning, and it has been working out very well. I recommend we start a chatroom or live conference system for live trading this system.

I would be happy to look into it if there is interest.

Tropic

I'm a new person to this forum but have been on the 4hr for a while. I think I will like this method better. We could do a live trading on paltalk as I have been involved with one there. Only problem it would be a open forum and someone has to bounce out intruders. I am more concerned with how many different time zones are we dealing with and what time to talk. Personally I'm on the west coast but I can tell by the times of the messages that many are on the east coast.


Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
  • #677
  • Mar 23, 2007 1:23am Mar 23, 2007 1:23am
Quoting barney
hi,

i forget to ask ,

was ,nt the 50 sma to flat for a trade?

thanks

gary
hi gary

Not really - I am looking at the 0.1 and 0.2 levels on the SMAangle indicator. The 21 MA on the SMAangle indicator must be above/below 0.1 levels (Phillip's method) and the SMAangle bars must be above/below 0.2 levels (my own rule established after some back-testing in of possible trades in January - discussed earlier in the thread).

Hope it is clear.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #678
  • Mar 23, 2007 1:28am Mar 23, 2007 1:28am
Quoting lcraft93
Can someone please link me to the meta trader file that places the dots on my charts when an optimal buy or sell set up occurrs.
Thanks
Hi I93

A few pages back on this thread there is a post with three attachments. You need to download the three attachement in the correct files of your MT4 platform. it works wonderfully but I don't take the trades. I just use it to identify the start of a trend/possible trades coming up. then I do take each set-up manually.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #679
  • Mar 23, 2007 1:43am Mar 23, 2007 1:43am
Thanks, I'll see if I can find them.
  • #680
  • Mar 23, 2007 2:21am Mar 23, 2007 2:21am
Quoting pip pirate 2
I'm a new person to this forum but have been on the 4hr for a while. I think I will like this method better. We could do a live trading on paltalk as I have been involved with one there. Only problem it would be a open forum and someone has to bounce out intruders. I am more concerned with how many different time zones are we dealing with and what time to talk. Personally I'm on the west coast but I can tell by the times of the messages that many are on the east coast.


Read any successful person’s biography and it goes like this: struggle, struggle, struggle, small success; struggle, struggle, struggle, small success; struggle, big struggle, struggle, BIG SUCCESS. See setbacks as proof of your future success. What makes anyone think that trading is any different?
Hi

Some of us are even in Africa but if it is a practical system - I am in.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
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