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Forex intraday using the 5min chart: EURUSD 108 replies

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5Min Intraday System

  • #721
  • Mar 25, 2007 11:56am Mar 25, 2007 11:56am
thanks guys

gary
  • #722
  • Mar 26, 2007 4:21am Mar 26, 2007 4:21am
Phil,

Would you have taken this trade? If not, why?
Thanks
Attached Image
  • #723
  • Mar 26, 2007 4:27am Mar 26, 2007 4:27am
Nice BUY trade on USD/JPY
  • #724
  • Mar 26, 2007 4:43am Mar 26, 2007 4:43am
Quoting peterdxb
Nice BUY trade on USD/JPY
I took it also.. and squared at 9 pips. Could have sticked to it longer.. but was afraid since from the longer point view, usdjpy is approaching some recent highs..
  • #725
  • Mar 26, 2007 4:44am Mar 26, 2007 4:44am
We are having another buy signal , waitin for better price to enter....


Quoting endy
I took it also.. and squared at 9 pips. Could have sticked to it longer.. but was afraid since from the longer point view, usdjpy is approaching some recent highs..
  • #726
  • Mar 26, 2007 4:55am Mar 26, 2007 4:55am
Quoting Porkpie
Phil,

Would you have taken this trade? If not, why?
Thanks
Hi porkpie

I would have taken it 118.07 (my 21MA at that stage) - comply with all my rules. Unfortunately I missed it, now I am waiting for the next one. I have already a Buy limit order (118.20 at this stage) in place.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #727
  • Mar 26, 2007 9:54am Mar 26, 2007 9:54am
Attached my trade of this morning. Enter @ 10:26 GMT with Buy limit order (was in a meeting). Exit @ 10:36GMT (manually) with 5 pips profit because I was worried about the lack of movement for such a long time (proposed by Phillip last week because the market can go in any direction).

Afterwards the market went my way - but it could have been the other way around.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #728
  • Mar 26, 2007 10:00am Mar 26, 2007 10:00am
Attached my first trade this morning with the GBPU$. I did use the 6 pips break-even move and I did get a break-even trade as the move was just 6 pips.

One could have entered earlier for a profitable trade but I've missed it.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #729
  • Mar 26, 2007 10:09am Mar 26, 2007 10:09am
Quoting Porkpie
Phil,

Would you have taken this trade? If not, why?
Thanks

Yes. It satisfied all the rules.
  • #730
  • Mar 26, 2007 10:48am Mar 26, 2007 10:48am
Info
Attached File(s)
File Type: zip Daily Wrapup 5min 26March2007.zip   686 KB | 1,152 downloads
  • #731
  • Mar 26, 2007 10:50am Mar 26, 2007 10:50am
Attached my trade after the US news release. Not a good one.

Enter @ 15:16GMT 1.9688. Sl triggered @ 15:34GMT 1.9678. 10 pips loss. If I've entered earlier @1.9686(15:00GMT when price was 2 pips away from my 21MA), it would have been a Breakeven trade.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #732
  • Mar 26, 2007 12:14pm Mar 26, 2007 12:14pm
Quoting Phillip Nel
Info
Hi Phillip

Tx for the daily MP3. There are always nice pieces of usefull tips in your presentation such as 75 pips run without a retrachement/5 min set-up - be careful & "2 candles within the zone before enter a trade."

Tx again - great - information to include in a trading plan.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #733
  • Mar 26, 2007 12:15pm Mar 26, 2007 12:15pm
Info
Attached File(s)
File Type: zip 5 Min Strategy.zip   685 KB | 1,528 downloads
  • #734
  • Mar 26, 2007 12:55pm Mar 26, 2007 12:55pm
For those of you who are on skype. If you are interested I will not answer questions on it but can include you in a chat when I am trading live as to when I enter the trades. Just make sure that you tell me your GMT time so that I dont desturb you in the middle of the night. My trading time usually is after work from 16:00 till 21:00 GMT+1. This is only for the 5min strategy.

My skype is chanan13
  • #735
  • Edited 2:45pm Mar 26, 2007 1:15pm | Edited 2:45pm
Attached the 5 min chart of the EURJPY with 5 possible trades today - all of them ended up being positive trades. Only No3 was a problem. After 14H00 it becomes choppy with closes below the 21 MA and next to the 50MA.

The green line at 08H00GMT was when the 21MA crossed the 0.1 line on the SMAangle indicator.

Phillip - I know you don't look at this pair but: Very interesting when a pair is trending.

Look at post #738 for a trade after the choppiness and the trend continues.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #736
  • Mar 26, 2007 1:26pm Mar 26, 2007 1:26pm
See next post for Chart
Attached File(s)
File Type: zip News Trading 1.zip   697 KB | 1,576 downloads
  • #737
  • Mar 26, 2007 1:32pm Mar 26, 2007 1:32pm
Here is the chart that goes with the news trading Mp3
Attached Image
  • #738
  • Edited 2:46pm Mar 26, 2007 2:23pm | Edited 2:46pm
After watching the trend on the EURJPY (a few posts ago #735), this quick risky trade. I am sure Phillip won't agree but ......? All still within my rules and I just saw the price going through 157.41. I was a bit worried about the recent high but it went through it. However, I won't try another trade now. Don't push one's luck.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #739
  • Mar 26, 2007 2:26pm Mar 26, 2007 2:26pm
Quoting Phillip Nel
For those of you who are on skype. If you are interested I will not answer questions on it but can include you in a chat when I am trading live as to when I enter the trades. Just make sure that you tell me your GMT time so that I dont desturb you in the middle of the night. My trading time usually is after work from 16:00 till 21:00 GMT+1. This is only for the 5min strategy.

My skype is chanan13
Hi Phillip

I am up and running - phone you up tomorrow afternoon. Looking forward to it.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #740
  • Mar 26, 2007 3:49pm Mar 26, 2007 3:49pm
Quoting Golfer
Attached my trade of this morning. Enter @ 10:26 GMT with Buy limit order (was in a meeting). Exit @ 10:36GMT (manually) with 5 pips profit because I was worried about the lack of movement for such a long time (proposed by Phillip last week because the market can go in any direction).

Afterwards the market went my way - but it could have been the other way around.

Willem
hi wil or anyone,

how can you set a buy order when you do not know if the set up of the trade is correct?

surely you have to watch the chart to see the price enter into the zone and have the correct angle ect ect

im sure you all know the answer but im still learning trading.
thank you
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