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5Min Intraday System

  • #741
  • Mar 26, 2007 3:59pm Mar 26, 2007 3:59pm
ive been thinking and will try and answer this myself ,
just tell me if im right or wrong,


the set up was already there just before you went into your meeting

you left before the price retracted?
  • #742
  • Mar 26, 2007 4:06pm Mar 26, 2007 4:06pm
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 all,

Could someone please explain what skype is,and how I could get to use it ,as I would love to take advantage of Phillips very generous offer whenever possible.

Thanks.
  • #743
  • Mar 26, 2007 9:23pm Mar 26, 2007 9:23pm
Quoting FOURX
Hi all,

Could someone please explain what skype is,and how I could get to use it ,as I would love to take advantage of Phillips very generous offer whenever possible.

Thanks.
Just go to www.skype.com and all will be revealed.
  • #744
  • Edited 2:53am Mar 27, 2007 2:01am | Edited 2:53am
Quoting barney
ive been thinking and will try and answer this myself ,
just tell me if im right or wrong,


the set up was already there just before you went into your meeting

you left before the price retracted?
Hi Barney

Sorry for the confusion but yes, you are right - I did leave before the re-trachment. Let me explain:

1. I do monitor the markets on a regular basis (I don't in front of PC every minute) and I wait for the 21MA to cross the 0.1 or -0.1 level.

2. Once I have the 21MA cross and I have my SMAangle bars above 0.2 or -0.2 levels (my own rule but not always there), I do put a limit order in place 1-2 pips above (long trade) or below (short trade) the 21MA on the chart.

3. Every 10-15 minutes I change my order to keep up with the 21 MA

4. If things doesn't look good, I'll cancel the order

I am doing it this way because I've realised that I've missed several good trades because (like Phillip said yesterday) one needs to go to the WC or drink a glass of water (can you belief him - water?). Just at that moment the price will get near the 21MA and you'll miss the trade. And I don't belief in enter a trade too late (I'll rather let it go).

I'll try and post an example to clarify it

Hope it is clear now.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #745
  • Mar 27, 2007 2:50am Mar 27, 2007 2:50am
Hi, I wanted to ask, is there still that indicator/expert available for this method ? That which made little orange dots over possible trades.
I checked on the one I used to have and it says it is expired.
  • #746
  • Mar 27, 2007 2:58am Mar 27, 2007 2:58am
Quoting endy
Hi, I wanted to ask, is there still that indicator/expert available for this method ? That which made little orange dots over possible trades.
I checked on the one I used to have and it says it is expired.
Hi Endy

I've used the indicators (three of them) posted on page 39 (I think) and it is working.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #747
  • Mar 27, 2007 3:31am Mar 27, 2007 3:31am
Thanks Willem,

appreciated your help.
I hope you all got 1 min news signal on EURUSD after German Ifo announcement. Another few pips..

Quoting Golfer
Hi Endy

I've used the indicators (three of them) posted on page 39 (I think) and it is working.

Willem
  • #748
  • Mar 27, 2007 4:06am Mar 27, 2007 4:06am
Quoting endy
Thanks Willem,

appreciated your help.
I hope you all got 1 min news signal on EURUSD after German Ifo announcement. Another few pips..
Hi endy

Sorry, missed it because of work. Hope you've enjoyed it. Made 3 pips (a close above 21MA meaning I must get out as quick as possible - my rule) earlier on EURJPY just before news.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #749
  • Mar 27, 2007 4:53am Mar 27, 2007 4:53am
I took two trades this morning

1st one: USD JPY sell at 8:25 GMT Enter 118.10 exit 118.00

2nd one: USD CHF sell at 11:05 enter 1.2143 exit at 1.2133

Actually in with GPS USD at BE
Attached Images
  • #750
  • Mar 27, 2007 5:10am Mar 27, 2007 5:10am
Quoting kunz78
I took two trades this morning

1st one: USD JPY sell at 8:25 GMT Enter 118.10 exit 118.00

2nd one: USD CHF sell at 11:05 enter 1.2143 exit at 1.2133

Actually in with GPS USD at BE
Great trades!!!!!!!!!!

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #751
  • Mar 27, 2007 5:27am Mar 27, 2007 5:27am
Hi kunz
Entryprice in GBPUSD ?

Till
  • #752
  • Mar 27, 2007 6:59am Mar 27, 2007 6:59am
Quoting RemingtonTJ
Hi kunz
Entryprice in GBPUSD ?

Till

1.9638 at 11:45 closed with ten pip profit at 12:30

30 pip for the day. I'm out

see you tomorrow!!
  • #753
  • Edited 7:38am Mar 27, 2007 7:13am | Edited 7:38am
Attached my revised rules for this system - I am trying to update it as Phillip is doing his thing every day (and it is not drinking water - great MP3, Phillip!!!).

Willem
Attached File(s)
File Type: doc 5 min MA intraday trading system.doc   43 KB | 2,177 downloads
Willem Forex recipe for success = Patience, discipline & hard work.
  • #754
  • Mar 27, 2007 9:57am Mar 27, 2007 9:57am
Attached my trade for the day. 3pips profit after a close above the 21MA - get out as soon as possible (my own rule).

Enter @07:34GMT, 157.34, exit 10 min later with 3 pips

I've missed all the other because of work.

Willem
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #755
  • Mar 27, 2007 10:43am Mar 27, 2007 10:43am
Info
Attached Image
Attached File(s)
File Type: zip Daily Wrapup 5min 27March2007.zip   732 KB | 1,601 downloads
  • #756
  • Mar 27, 2007 10:51am Mar 27, 2007 10:51am
Phillip, You're the man. Great you've helped create a place that is truly a good forex forum. I have a question on the 5 min strategy. I attempted to read the whole thread and I understand it pretty well the only fact it seems I missed is, what hours do you trade this strategy? All hours or?

Thanks,

Ryan M
  • #757
  • Mar 27, 2007 11:25am Mar 27, 2007 11:25am
pHILLIP,

SO sorry one other question...I just listened to your audio...just unreal...amazing you don't charge for this, I think you could. How do I become part of the Skype group? Thanks, RYan

My old saying about trading with others...

'Always take responsibilty for your finger'
  • #758
  • Mar 27, 2007 12:59pm Mar 27, 2007 12:59pm
Quoting yipcarl
Phillip, You're the man. Great you've helped create a place that is truly a good forex forum. I have a question on the 5 min strategy. I attempted to read the whole thread and I understand it pretty well the only fact it seems I missed is, what hours do you trade this strategy? All hours or?

Thanks,

Ryan M
Any time the market moves is good. Best time is Eastern, London and Us sessions
  • #759
  • Mar 27, 2007 1:00pm Mar 27, 2007 1:00pm
Quoting yipcarl
pHILLIP,

SO sorry one other question...I just listened to your audio...just unreal...amazing you don't charge for this, I think you could. How do I become part of the Skype group? Thanks, RYan

My old saying about trading with others...

'Always take responsibilty for your finger'
Go to www.skype.com
  • #760
  • Mar 27, 2007 1:38pm Mar 27, 2007 1:38pm
Quoting Phillip Nel
Info
Hi Phillip

Very interesting - the InterbankFX chart on your trade. The price was 2 pips away from the 21 MA (117.97 - enter) meaning 10 pips was on.

On the EUR$ trade this morning, according to InterbankFX, I would have enter @ 1.3343 and it move up to 1.3351 - meaning it would have been a BE trade and not a loss. So you would have 1 BE and 2 positive trades.

Just an observation.

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