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5Min Intraday System

  • #841
  • Apr 3, 2007 9:45am Apr 3, 2007 9:45am
Please.

Could someone please let me know how to get back into the chat. I left last evening and that is the last message I can see.

THANKS
  • #842
  • Apr 3, 2007 9:57am Apr 3, 2007 9:57am
Quoting FOURX
Please.

Could someone please let me know how to get back into the chat. I left last evening and that is the last message I can see.

THANKS

HELP!
  • #843
  • Apr 3, 2007 10:03am Apr 3, 2007 10:03am
Phillip, I'm going to give the 5Min system a go. If I come up with anything that is different or helps I'll let you know.
Hej.
  • #844
  • Apr 3, 2007 12:14pm Apr 3, 2007 12:14pm
Quoting Stitch961
Phillip, I'm going to give the 5Min system a go. If I come up with anything that is different or helps I'll let you know.
Thanks
  • #845
  • Apr 3, 2007 12:18pm Apr 3, 2007 12:18pm
Attached my two trades today. First one was a beauty - the start of the trend. Missed some of the other & unfortunately I did trust the continuation of the trend.

Therefore I went over to the GBP$ - what a disaster. But that is trading. Should have stayed with the JPY pairs.

I really starting to like the EURJPY - when it is trending. Attached but no pull-back in the 1st part of the trend ( first one was too quick) - the reason for my worries.

Willem
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #846
  • Apr 3, 2007 7:41pm Apr 3, 2007 7:41pm
Got 15 pips profit on EJ about 15 minutes ago. See chart attached.
Attached Image
  • #847
  • Apr 3, 2007 7:48pm Apr 3, 2007 7:48pm
Quoting Golfer
Attached my two trades today. First one was a beauty - the start of the trend. Missed some of the other & unfortunately I did trust the continuation of the trend.

Therefore I went over to the GBP$ - what a disaster. But that is trading. Should have stayed with the JPY pairs.

I really starting to like the EURJPY - when it is trending. Attached but no pull-back in the 1st part of the trend ( first one was too quick) - the reason for my worries.

Willem
Willem: It is exciting that you are having success with the eur/jpy. I stated in an earlier post that when the group understood this system they would love the exotics. You can use the chf/jpy and gbp/jpy to confirm the movement although you would not want to trade those pairs. Most of the time the usd/jpy and aud/jpy also confirm the move. So if you have 5 jpy pairs with a similar look to them, then you are more assured that the jpy is going in that direction. Look again at the eur/jpy file that Willem has on his post.The most important part of Phillip's system in my mind is has always been the fact that as long as the pair is on one side of the 8ema or similar line and hasn't crossed the 21ema, the pair will most likely continue in its direction. So (no buy, sell or hold recommendation) but sometime think bigger pips and let the pairs run. If you catch the beginning of the move, set stop to break even and let it go. This is what I am trying to do with this system and I hope it doesn't upset the group. I want 20+ pips per move and all you have to do is wait for that setup and go.


I keep on fighting for the things I want; Though I know that when you’ve dead you can’t; But I’d rather be a free man in my grave; than living as a puppet or a slave; So as sure as the sun will shine; I’m going to get my share of what is mine….. Jimmy Cliff
  • #848
  • Apr 3, 2007 10:23pm Apr 3, 2007 10:23pm
Hi Mobsie,

I like your EA very much, thanks for your effort !.

Could you please make your EA breakeven when 6 pips gain ?

Thanks alot.

Megaforex
  • #849
  • Apr 4, 2007 12:21am Apr 4, 2007 12:21am
Quoting pip pirate 2
Willem: It is exciting that you are having success with the eur/jpy. I stated in an earlier post that when the group understood this system they would love the exotics. You can use the chf/jpy and gbp/jpy to confirm the movement although you would not want to trade those pairs. Most of the time the usd/jpy and aud/jpy also confirm the move. So if you have 5 jpy pairs with a similar look to them, then you are more assured that the jpy is going in that direction. Look again at the eur/jpy file that Willem has on his post.The most important part of Phillip's system in my mind is has always been the fact that as long as the pair is on one side of the 8ema or similar line and hasn't crossed the 21ema, the pair will most likely continue in its direction. So (no buy, sell or hold recommendation) but sometime think bigger pips and let the pairs run. If you catch the beginning of the move, set stop to break even and let it go. This is what I am trying to do with this system and I hope it doesn't upset the group. I want 20+ pips per move and all you have to do is wait for that setup and go.


I keep on fighting for the things I want; Though I know that when you’ve dead you can’t; But I’d rather be a free man in my grave; than living as a puppet or a slave; So as sure as the sun will shine; I’m going to get my share of what is mine….. Jimmy Cliff
good point, pirate! i just think that in the beginning we should all learn the 5MIN strategy like it is and later when we grow up to become the masters of 5MIN then catching those big moves with this system will be like a natural reflex for us.
  • #850
  • Apr 4, 2007 1:19am Apr 4, 2007 1:19am
Quoting pip pirate 2
Willem: It is exciting that you are having success with the eur/jpy. I stated in an earlier post that when the group understood this system they would love the exotics. You can use the chf/jpy and gbp/jpy to confirm the movement although you would not want to trade those pairs. Most of the time the usd/jpy and aud/jpy also confirm the move. So if you have 5 jpy pairs with a similar look to them, then you are more assured that the jpy is going in that direction. Look again at the eur/jpy file that Willem has on his post.The most important part of Phillip's system in my mind is has always been the fact that as long as the pair is on one side of the 8ema or similar line and hasn't crossed the 21ema, the pair will most likely continue in its direction. So (no buy, sell or hold recommendation) but sometime think bigger pips and let the pairs run. If you catch the beginning of the move, set stop to break even and let it go. This is what I am trying to do with this system and I hope it doesn't upset the group. I want 20+ pips per move and all you have to do is wait for that setup and go.


I keep on fighting for the things I want; Though I know that when you’ve dead you can’t; But I’d rather be a free man in my grave; than living as a puppet or a slave; So as sure as the sun will shine; I’m going to get my share of what is mine….. Jimmy Cliff
Hi PP2

Tx a lot for your valuable inputs. I do appreciate it. I didn't think along that line but it make sense. I was just looking at the EURJPY, GBPJPY & U$JPY and yesterday was a great example - all in the same direction. I'll put it in my memory bank.

I do like your "first let it run" approach - I'll practice with it.

Willem
Willem Forex recipe for success = Patience, discipline & hard work.
  • #851
  • Apr 4, 2007 1:24am Apr 4, 2007 1:24am
Quoting pip pirate 2
Willem: It is exciting that you are having success with the eur/jpy. I stated in an earlier post that when the group understood this system they would love the exotics. You can use the chf/jpy and gbp/jpy to confirm the movement although you would not want to trade those pairs. Most of the time the usd/jpy and aud/jpy also confirm the move. So if you have 5 jpy pairs with a similar look to them, then you are more assured that the jpy is going in that direction. Look again at the eur/jpy file that Willem has on his post.The most important part of Phillip's system in my mind is has always been the fact that as long as the pair is on one side of the 8ema or similar line and hasn't crossed the 21ema, the pair will most likely continue in its direction. So (no buy, sell or hold recommendation) but sometime think bigger pips and let the pairs run. If you catch the beginning of the move, set stop to break even and let it go. This is what I am trying to do with this system and I hope it doesn't upset the group. I want 20+ pips per move and all you have to do is wait for that setup and go.


I keep on fighting for the things I want; Though I know that when you’ve dead you can’t; But I’d rather be a free man in my grave; than living as a puppet or a slave; So as sure as the sun will shine; I’m going to get my share of what is mine….. Jimmy Cliff
Hi PP

Just an after-thought, it is one of my rules to look for any closes on the other/wrong side of the 21 MA (uptrend - close below 21MA, downtrend - close above 21 MA). If that happens, I am trying to get out of a current trade as soon as possible or I don't consider an immediate trade.

Is that what you are refering to?

Willemmmmmm
Willem Forex recipe for success = Patience, discipline & hard work.
  • #852
  • Apr 4, 2007 1:37am Apr 4, 2007 1:37am
Quoting Golfer
Hi PP

Just an after-thought, it is one of my rules to look for any closes on the other/wrong side of the 21 MA (uptrend - close below 21MA, downtrend - close above 21 MA). If that happens, I am trying to get out of a current trade as soon as possible or I don't consider an immediate trade.

Is that what you are refering to?

Willemmmmmm
What I am talking about is look at the point at 3april 4:15 or right above the first "T" in whaT a trend on your eur/jpy chart example from an earlier post. See how the pair is above all the indicators with a little room to spare. Then the candles go long until it hits the first Resistance line. There is a hammer candle there and I would have close out the trade for 20+ pips. As long as the candles are above the indicators and don't go back below the 21 ma, stay in. Like I have said in the past, I have and am still studying this concept and taking notes and screen shots to further convince myself that the works. Just take notes, screen shots and paper trade this idea for weeks.
  • #853
  • Apr 4, 2007 1:49am Apr 4, 2007 1:49am
Quoting pip pirate 2
What I am talking about is look at the point at 3april 4:15 or right above the first "T" in whaT a trend on your eur/jpy chart example from an earlier post. See how the pair is above all the indicators with a little room to spare. Then the candles go long until it hits the first Resistance line. There is a hammer candle there and I would have close out the trade for 20+ pips. As long as the candles are above the indicators and don't go back below the 21 ma, stay in. Like I have said in the past, I have and am still studying this concept and taking notes and screen shots to further convince myself that the works. Just take notes, screen shots and paper trade this idea for weeks.
Hi PP2

Discussing EURJPY chart on post #845 above. I see what you mean - great idea. I'll keep it in mind.

the resistance line mentioned is my daily pivot, supp & resis lines that I am bring into the system - calculated with the pivot calculator with the previous day's high, low and close.

Tx
Willem Forex recipe for success = Patience, discipline & hard work.
  • #854
  • Edited 7:47am Apr 4, 2007 7:25am | Edited 7:47am
hi,

how are u guys doing today?, golf any trade today? I am looking one short in cable, this morning even though we`re in news.
  • #855
  • Apr 4, 2007 8:45am Apr 4, 2007 8:45am
Quoting blanca
hi,

how are u guys doing today?, golf any trade today? I am looking one short in cable, this morning even though we`re in news.
Hi Blanca

Enter short on cable @ 12:59GMT. Exit @ 13:34 after 7 bars, a close above 21MA and 26 min to US news release. 3 pips profit - will post it later today. main worry was the news release coming up - don't want to be in market then.

Didn't feel comfortable with trade after a few bars - looking for an quick exit. Luckily I got it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #856
  • Apr 4, 2007 9:48am Apr 4, 2007 9:48am
I want to thank hipsterpipster for his pivot indicator. This board and the world owes him a bunch of pips. May the pips overflow in your household. That one indicator has totally changed my trading as you can see the number right there and it is amazing how the market reacts to them. It has saved me many times from not getting in at the wrong time and getting out at the right time. Thanks again.


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?
  • #857
  • Apr 4, 2007 11:07am Apr 4, 2007 11:07am
Attached my chart of cable today. Should have taken the first set-up (just before my trade) but didn't trust cable at this stage.

Like Phillip is saying - break-even is also an option. Keep that in mind.
Attached Images
Willem Forex recipe for success = Patience, discipline & hard work.
  • #858
  • Apr 4, 2007 11:51am Apr 4, 2007 11:51am
Ugh, my first day live demo trading this method did not go too well!
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  • #859
  • Edited 12:31pm Apr 4, 2007 12:28pm | Edited 12:31pm
Hi everyone

Here are my trade of the day

I went long with €/$ and €/y at 12:55 (gmt +1)
I ended both with 8 pip loss. As soon I entered the market turned against me. It looked a good trade....
But I took 12 pip with cable short at 14:25.

In the zip file you can find my trade since the beginning of this week


Greetings,

matt
Attached Images
Attached File(s)
File Type: zip Trade 5 min strategy.zip   6 KB | 868 downloads
  • #860
  • Apr 4, 2007 12:49pm Apr 4, 2007 12:49pm
Info
Attached File(s)
File Type: zip Daily Wrapup 5min 04April2007.zip   773 KB | 857 downloads
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