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Trend Follower 5 Minute System

  • #2,721
  • Mar 4, 2009 7:06am Mar 4, 2009 7:06am
Quoting pilatus
Sit and relax.
Cool I like the sound of that.

What do you make of this signal on USD/JPY?

I didn't take it because I thought the Guppy were too expanded and that with the ADP Non Farm figures due in 10 Minutes it could take it the wrong way.

Right decesion or Am I being too cautious?

Thanks
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  • #2,722
  • Mar 4, 2009 8:33am Mar 4, 2009 8:33am
If something like scenario I draw on chart occur, and if signal for long occur somewhere near arrow I draw and if someone enter a long trade, I would recommend to not expect that price could go above level of 1,2585+-5 pips. This is strong resistance and beter is to trade long above that level.
We will see what is going to happen....????
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  • #2,723
  • Mar 4, 2009 8:42am Mar 4, 2009 8:42am
Quoting pilatus
If something like scenario I draw on chart occur, and if signal for long occur somewhere near arrow I draw and if someone enter a long trade, I would recommend to not expect that price could go above level of 1,2585+-5 pips. This is strong resistance and beter is to trade long above that level.
We will see what is going to happen....????
Would you get in if it broke that level and gave a long signal?

To me it seems like the trade is against the major long term trend?

It is only today that EUR has gained on the USD otherwise it has been a long term downward trend?

Cheers http://www.forexfactory.com/images/icons/icon14.gif
  • #2,724
  • Mar 4, 2009 9:26am Mar 4, 2009 9:26am
Quoting Pipinaintez
Would you get in if it broke that level and gave a long signal? Yes of course.

To me it seems like the trade is against the major long term trend?
Yes it is but is good level.
It is only today that EUR has gained on the USD otherwise it has been a long term downward trend?
That is why I put that chart, if long signal occur people pay atention.
Cheers http://www.forexfactory.com/images/icons/icon14.gif
That is why I put that chart, if long signal occur people pay atention.
  • #2,725
  • Mar 4, 2009 9:37am Mar 4, 2009 9:37am
Quoting pilatus
That is why I put that chart, if long signal occur people pay atention.
Even though it's against the long term major trend?
  • #2,726
  • Mar 4, 2009 9:43am Mar 4, 2009 9:43am
Quoting Pipinaintez
Even though it's against the long term major trend?
Yes, do not recommend to enter long if signal occur.....
  • #2,727
  • Edited 11:27am Mar 4, 2009 10:42am | Edited 11:27am
well, resistance is no longer resistance.......Apologise to everyone who listened me and did not take long signal.......
  • #2,728
  • Mar 4, 2009 11:07am Mar 4, 2009 11:07am
Quoting pilatus
well, resistance is no longer resistance.......Apologize to everyone who listened me and did not take long signal.......
No way man, you don't have to apologise, it looks like counter trend movement and your advice was sound. The market is strange and against the major trend, there was more chance of losing.

As for the resistance the trade looks like it still might be retracing down towards it.

Keep up the good advice it's about winning long term!
  • #2,729
  • Mar 5, 2009 7:10am Mar 5, 2009 7:10am
to pilatus and all:

now that the dust has settled on the interest rate decisions 3 pairs appear to be lining up to go for trades with their major long term trend.

eur/usd- looks 2 be going 4 a sell at some point. this corresponds 2 its longer term trend.

usd/chf- again opposite to eur/usd, looks like its going to set up 4 a buy. although its longer term trend is not as clear to me. any suggestions on the long term trend anybody???

gbp/usd- looks 2 be setting up 4 a short, would appear to be the safest of the three possible trades if it sets up.

i have attatched the 3 pictures below, respectively. what is everyones opinions. they look good to me as the guppy is quite compressed, and there is a steady movement in the direction of the trend, although at sometime erratic.

opinions/comments/suggestions appreciated. Thank you
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  • #2,730
  • Mar 5, 2009 7:12am Mar 5, 2009 7:12am
eurusd
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  • #2,731
  • Mar 5, 2009 8:21am Mar 5, 2009 8:21am
Yes as always the trade I took didn't work out find attached GBP/USD.

Reason I took this trade: Long term trend agrees, Good Signal?, Guppy Compressed, Downward Movement before signal. UK interest rate down?

Any explanation why this went wrong
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  • #2,732
  • Mar 5, 2009 8:39am Mar 5, 2009 8:39am
EUR/USD and USD/CHF.

EUR/USD: I didn't take this one because the laguerre did not cut down below 0.75 until the Second Bar after signal? Is this still Valid. Or is it as The Wicker suggests Have to be met on Bar or one after!

Also There is a huge downward movement before you would enter this trade. I have read the whole blog and seen on a few occasions The Wicker said you would not enter this trade because of the large movement. Some 35 Pips in this case (that is of course if it valid!)

USD/CHF: I didn't take this one because as the Wicker suggets do not enter a trade on the back of a large movement. This trade had already gone up about 26 Pips by the time you enter. Wicker says: Don't take it yet, Yet it went well.

Am I just bad undergoing bad luck at the moment or am I missing something. At the Moment do exactly the opposite to what I do and you will be Profitable in your trading! Ha

Wicker I know you said you wouldn't come back to posting unless it was a new Question well I'm pretty sure that my questions here have not been answered. Unless it is that there is no explanation just a bad trade not the holy grail!

Where are you Wicker Could sure use your help!
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  • #2,733
  • Mar 5, 2009 8:44am Mar 5, 2009 8:44am
i think this system is good for 1H chart. i said it before.
  • #2,734
  • Mar 5, 2009 8:46am Mar 5, 2009 8:46am
Quoting Pipinaintez
Yes as always the trade I took didn't work out find attached GBP/USD.

Reason I took this trade: Long term trend agrees, Good Signal?, Guppy Compressed, Downward Movement before signal. UK interest rate down?

Any explanation why this went wrong
but i think it will go down, this movement because of US stocks opening.
  • #2,735
  • Mar 5, 2009 8:57am Mar 5, 2009 8:57am
Quoting nicotine
i think this system is good for 1H chart. i said it before.
Thanks Nicotine but.....

1 Hour Chart had a general downward trend and also gave a signal. Granted it is not the best but a signal nevertheless?????

Sorry about the messy chart just pay attention to signal at 14.00.

Cheers
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  • #2,736
  • Mar 5, 2009 1:42pm Mar 5, 2009 1:42pm
Quoting Pipinaintez
EUR/USD and USD/CHF.
Am I just bad undergoing bad luck at the moment or am I missing something. At the Moment do exactly the opposite to what I do and you will be Profitable in your trading! Ha
Hi Pipinaintez,
I am trading few days and understand your frustration. I´ve lost money, but now I started to recover this lost. My mistake was that I was trying to enter trade almost at any cost and it resulted into losses. Now I am really thinking twice before I enter. I think today was quite volatile day on all pairs, only U/Y and E/Y showed some trend (short). All other pairs were just dancing (Plus resist / support lines were close) and this system needs trend to give good signals. So, I am trying to relax and maybe miss some trades rather than let my stress grow because of failed trades.
  • #2,737
  • Mar 5, 2009 2:29pm Mar 5, 2009 2:29pm
Quoting marek75
Hi Pipinaintez,
I am trading few days and understand your frustration. I´ve lost money, but now I started to recover this lost. My mistake was that I was trying to enter trade almost at any cost and it resulted into losses. Now I am really thinking twice before I enter. I think today was quite volatile day on all pairs, only U/Y and E/Y showed some trend (short). All other pairs were just dancing (Plus resist / support lines were close) and this system needs trend to give good signals. So, I am trying to relax and maybe miss some trades rather than...
I agree with you, not good day for trading, a lot of news.....better to wait for good not volatile day...
  • #2,738
  • Mar 5, 2009 2:38pm Mar 5, 2009 2:38pm
Quoting Pipinaintez
Thanks Nicotine but.....

1 Hour Chart had a general downward trend and also gave a signal. Granted it is not the best but a signal nevertheless?????

Sorry about the messy chart just pay attention to signal at 14.00.

Cheers
Buddy thanks for your support. It looks like that you are impatient...slow down a little. As I told you, you can get 1-3 good signals per week. Be patient, take analysis, find good s/r level. Wait for rebound of them and then trade. Try to prepare trade....if it happen by your analysis and plan - trade, if not - dont trade.
It is easy to find 5 signals per day but question is are they worth of entering a trade and risk certain % of your total ammount. Better to take 1-3 good trades and take 100-200 pips than take every signal and loose 5-6 times in a row. That frustrate, believe me.
So, my recommendation for you is to spend 90% of your time to analyse market and enter in a trade where signal match your analysis and plan.
  • #2,739
  • Mar 5, 2009 4:57pm Mar 5, 2009 4:57pm
Hi All,

I am currently using the Trend Follower 5 Minute System but I am using the original alert arrows that came on Page 1 of this thread. Does anybody have a modified Alert Signal for when only all the conditions are met? I would really appreciate it if anyone has such an indicator whether they could post it here for me, as it would save countless bleeps on my pc!!!

Many Thanks

Alkis Hilton
  • #2,740
  • Mar 6, 2009 12:42am Mar 6, 2009 12:42am
Hello all,

there is something on my mind that needs to be put on paper. This thread is soon to celebrate its 2 years of existence. During that time I believe we've accomplished to train a few successful and more profitable traders. Some of these spent one-on-one coaching time with me and unless they're faking their screenshots they've become great traders of this system.

New traders constantly arrive to learn our system. I've been getting many PM's for personal support from them. Please note that I can no longer support your questions that you send me through PM. For this we have a great community and a handful of Trend Follower masters. Learn from them, learn from each other. Organize yourselves, create social groups, open online trading rooms, read and re-read the thread again, help out one another and most important learn from those who trade this system for an extended period of time with success. That was the purpose of creating this thread in the first place.

To your success,
Urban.
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