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5Min Intraday System

  • #821
  • Apr 1, 2007 9:29am Apr 1, 2007 9:29am
Quoting Golfer
Attached my results of the first month of using the 5 min intra-day system.

26 trades - 69% positive trades
89 pips profit
2.02 Profit factor

I didn't follow my rules 100% - especially in the begining. Thanks Phillip for helping me with the rules and how to comply with it. The MP3s are very helpful.

Can't wait for April - I am sure following the rules will result in more positive trades

Willem
hi will

could you tell me how much time you are spending at your computer over the last month to achieve these results is it every tradable hour 5 days a week or just when you have time?

cheers
gary
  • #822
  • Apr 1, 2007 10:14am Apr 1, 2007 10:14am
Quoting barney
hi will

could you tell me how much time you are spending at your computer over the last month to achieve these results is it every tradable hour 5 days a week or just when you have time?

cheers
gary
Hi G

These results are just the actual trades made. Like Phillip, I do have a day job but I do have Internet access at work. During tea times & lunches I sometimes do have time to check charts for trades. About 30% of trades were made during office hours.

That is why I posted a few charts with possible trades - trades not made because of other commitments. There are still many other opportunities.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #823
  • Apr 2, 2007 2:50am Apr 2, 2007 2:50am
Kunz, appreciate your efforts for indicators but mine just shows 5 min ea in top right hand corner with a cross next to it, am i being silly or what !
  • #824
  • Apr 2, 2007 8:02am Apr 2, 2007 8:02am
Quoting wilczek
Kunz, appreciate your efforts for indicators but mine just shows 5 min ea in top right hand corner with a cross next to it, am i being silly or what !
you have to turn on Expert Advisors - the biggest button on the Standard Toolbar.
  • #825
  • Apr 2, 2007 10:12am Apr 2, 2007 10:12am
I had two trades today (the opportunities I had in front of PC).

U$JPY was a great set-up but it went against me - 4 pips lost (I could have closed it with 1 pip profit however). My first live trade.

The GBPU$ trade was a bit late in the movement resulting a break-even trade. SL was triggered with a pull-back a few seconds after I moved it to break-even.

There were a few great set-ups however but like Phillip, we need to work.

Willem
Attached Images
Willem Forex recipe for success = Patience, discipline & hard work.
  • #826
  • Apr 2, 2007 10:29am Apr 2, 2007 10:29am
Quoting Golfer
I had two trades today (the opportunities I had in front of PC).

U$JPY was a great set-up but it went against me - 4 pips lost (I could have closed it with 1 pip profit however). My first live trade.

The GBPU$ trade was a bit late in the movement resulting a break-even trade. SL was triggered with a pull-back a few seconds after I moved it to break-even.

There were a few great set-ups however but like Phillip, we need to work.

Willem
yes. There were some great setups on the GbpUsd
  • #827
  • Apr 2, 2007 10:46am Apr 2, 2007 10:46am
My third trade for day - like Phillip was saying - choppy before setup. I am just trying to enter the trade with the pullback on second candle (this was a beauty) within the war zone (after I am sure the trade complies with the rules).

It did work.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #828
  • Edited 11:05am Apr 2, 2007 10:52am | Edited 11:05am
Quoting Phillip Nel
yes. There were some great setups on the GbpUsd
Hi Phillip

Tx, on my GBPU$ chart on previous page, I missed set-up #1 but I was looking at #2. I just didn't have the confidence to pull the trigger on that one. Also was too busy looking at /trading the U$JPY (just to get out break-even) - just to bad.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #829
  • Apr 2, 2007 11:30am Apr 2, 2007 11:30am
Info
Attached File(s)
File Type: zip Daily Wrapup 5min 02April2007.zip   778 KB | 921 downloads
  • #830
  • Edited 1:40pm Apr 2, 2007 1:27pm | Edited 1:40pm
Hi
I'm new to the thread but follow it for a while.It look like a very good strategy.I believe if you follow the set rules that one can be succesful.I looked at Golfers first trade for the day.Do you enter at the close of the next bar after receiving the signal or as soon as you receive the signal?I did 2 trades last week and entered at the close of the following bar(+6 pips each trade)What is the rule here?
  • #831
  • Apr 2, 2007 2:40pm Apr 2, 2007 2:40pm
Quoting Abraham C
Hi
I'm new to the thread but follow it for a while.It look like a very good strategy.I believe if you follow the set rules that one can be succesful.I looked at Golfers first trade for the day.Do you enter at the close of the next bar after receiving the signal or as soon as you receive the signal?I did 2 trades last week and entered at the close of the following bar(+6 pips each trade)What is the rule here?
Hi A

What I am trying to do it wait for the first bar to get within the war zone (between 10 & 21 MA). Then I try to enter on a pull-back of the second bar in the direction of the trade.

My first trade today - there was about 1 pip pull-back and I entered. It was also close to the 21 MA - much better. Unfortunately it went against me and I couldn't tell myself to get out. I wanted 3 pips profit.

But it is not always possible to trade like that - listen to Phillip's MP3 today, look at your chart and you'll see an example.

Previously I've tried to enter 1 pip away for the 21MA - missed out on excellent trades. That is why I've changed my strategy - Thanks, Phillip.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #832
  • Apr 2, 2007 2:43pm Apr 2, 2007 2:43pm
Quoting Phillip Nel
Info
Hi Phillip

Tx, I've changed my setting on this pair to 0.15 as suggested. One needs a smooth run from this pair and it happens frequently. Patience is the word. Today was just taking a change - couldn't resist the beautiful pull-back. Had to practice.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #833
  • Edited 3:19pm Apr 2, 2007 3:07pm | Edited 3:19pm
Hi all.

Could someone please inform me how I get back into the 5min forex chat on skype. I left the chat and when I returned to skype it has gone from my recent chats menu how do I rejoin it

Thanks

Found it, but how do I get back in?
  • #834
  • Apr 2, 2007 5:31pm Apr 2, 2007 5:31pm
Phillip, How do you set the EMA's and the SMA? Are they set on the Close or Open, or a mix. Good stuff, Bob
Hej.
  • #835
  • Apr 3, 2007 2:23am Apr 3, 2007 2:23am
Itook a trade at 8H15(GMT+2)Enter AT118.21 . Stoploss 118.08
At 8H24 it took me out on stoploss.I looked at the bar but the low don't indicate that the price went to my stoploss.Could it happen or not?
  • #836
  • Apr 3, 2007 5:19am Apr 3, 2007 5:19am
Hello,

I think it should be possible to make an EA for the MT4 Plattform with this strategy.
Is somebody able to proram this? Unfotunatly I am not...
  • #837
  • Apr 3, 2007 6:25am Apr 3, 2007 6:25am
Quoting Abraham C
Itook a trade at 8H15(GMT+2)Enter AT118.21 . Stoploss 118.08
At 8H24 it took me out on stoploss.I looked at the bar but the low don't indicate that the price went to my stoploss.Could it happen or not?
Hi A

Yes, it could. It happened to me in the past. Just today I looked at the chart and the price feed and there was a difference of 1-2 pips. That is how your Sl can be taken out.

On an e-mail/article from another trader, he suggested to have a mental SL and not a physical SL (because with a physcial SL your broker can see where you want to exit). But that is too risky for me - just in case you lost your on-line contact with the broker (no SL in place).

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #838
  • Apr 3, 2007 6:42am Apr 3, 2007 6:42am
hi Phillip,

great that you still keep up the good work. I wish you a lot of success with your method!
  • #839
  • Apr 3, 2007 8:43am Apr 3, 2007 8:43am
Quoting Stitch961
Phillip, How do you set the EMA's and the SMA? Are they set on the Close or Open, or a mix. Good stuff, Bob
Hi

ema and sma are set on the close

woju2
  • #840
  • Apr 3, 2007 8:51am Apr 3, 2007 8:51am
Quoting Tschim
Hello,

I think it should be possible to make an EA for the MT4 Plattform with this strategy.
Is somebody able to proram this? Unfotunatly I am not...
Hi!

You can dawnload an EA form the thread attachement. There was a disscussion about this EA somewhere at this thread too. I personally dont't use it.

woju2
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