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5Min Intraday System

  • #861
  • Apr 4, 2007 12:55pm Apr 4, 2007 12:55pm
Quoting libertao
Ugh, my first day live demo trading this method did not go too well!
Hi L

I was waiting for the very same trade on the EURU$ you took. What I was waiting for was a pull-back on the second chandle back upwards. I would have entered if there was a pull-back.

Then the second chandle closed below the 21MA - against my rule to enter.

The U$JPY trade was just too quick entry??????

Swissy was a better set-up & entry for me. Just that I want to see the SMAangle bars below 0.2 (my own rule)

Cable - entry-price was outside war zone (between 10MA & 21 MA)?

Just my opinion
Willem Forex recipe for success = Patience, discipline & hard work.
  • #862
  • Apr 4, 2007 1:00pm Apr 4, 2007 1:00pm
Quoting libertao
Ugh, my first day live demo trading this method did not go too well!
Hi L

Welcome - that is why I don't really belief in paper trade. Rather do live demo trading on a platform.

My opinion is that back testing is just to get feel/idea of a system. One needs to do the actual trading to see how it in real world works - totally different.

Live money trading is another step to take.

Keep it up and stay with us!!!!!!!!!!!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #863
  • Apr 4, 2007 1:07pm Apr 4, 2007 1:07pm
Quoting kunz78
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
Hi Matt

I was watching the trend on the EURJPY but I had to leave the PC - didn't see the 10/21MA break.

GBPU$ - Yes, that was the one I also would have taken. Unfortunately I was not in-front of PC, only later. The reason for my trade - too late. One needs to get in with the first/second set-up o a trend. Well-done
Willem Forex recipe for success = Patience, discipline & hard work.
  • #864
  • Apr 4, 2007 1:20pm Apr 4, 2007 1:20pm
Quoting kunz78
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
Matt

Tx for info on week. Great trades & system. Over 3% growth (capital) in the three days - well done.

I do like your risk management.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #865
  • Apr 4, 2007 1:47pm Apr 4, 2007 1:47pm
Quoting Golfer
I was waiting for the very same trade on the EURU$ you took. What I was waiting for was a pull-back on the second candle back upwards. I would have entered if there was a pull-back.

Then the second candle closed below the 21MA - against my rule to enter.
So you wait for 1 (or 2) ticks of a pullback or do you wait for the close of a 2nd candle inside the zone? I certainly wouldn’t have entered if I had waited for the close of the next candle but I worry that waiting for another candle will miss too many entries (and perhaps even a greater chance at a false entry if the pullback is slow?).
Quote
The U$JPY trade was just too quick entry??????
Sorry, I don’t understand how it was, could you explain this further? It seemed like the 21-ema on the SMAAngle had passed -0.1 a while back meaning the trend was established enough?
Quote
Cable - entry-price was outside war zone (between 10MA & 21 MA)?
I entered at the bottom of the wick where the red arrow is (there was a PhilNel Signal at the time). Do you only enter if the candle CLOSES in the zone?
Quote
My opinion is that back testing is just to get feel/idea of a system. One needs to do the actual trading to see how it in real world works - totally different.

Live money trading is another step to take.

Keep it up and stay with us!!!!!!!!!!!!!
I definitely agree about the backtesting/demoing. I’m trying to take it one step at a time (backtesting to demo to real $). Live demoing is a pretty big commitment for me however as I live on the West Coast and have an 8-5 day job.

Thanks for all your help, I plan on giving this method all the effort I can!!
  • #866
  • Apr 4, 2007 2:05pm Apr 4, 2007 2:05pm
Here's a kind of neat 5 min. intra-day set-up that I'm playing with.
It' my first upload so, I don't know how clear the chart
will be. Let's see.

Have fun!

FXS


"I'm a Thing-Finder, and when you're a Thing-Finder,
you don't have a minute to spare"
- Pippi Longstocking
Attached Image
  • #867
  • Apr 4, 2007 2:21pm Apr 4, 2007 2:21pm
Quoting libertao
So you wait for 1 (or 2) ticks of a pullback or do you wait for the close of a 2nd candle inside the zone? I certainly wouldn’t have entered if I had waited for the close of the next candle but I worry that waiting for another candle will miss too many entries (and perhaps even a greater chance at a false entry if the pullback is slow?).

No I don't wait for a close of second candle - just a pull-back. But it is just my way of doing it. Keep with what you feel comfortable with.

Sorry, I don’t understand how it was, could you explain this further? It seemed like the 21-ema on the SMAAngle had passed -0.1 a while back meaning the trend was established enough?

I just like to trade on the second candle within the war zone but please it is not always possible.

I entered at the bottom of the wick where the red arrow is (there was a PhilNel Signal at the time). Do you only enter if the candle CLOSES in the zone?

Once again not necassary. Ideally I would like to see the first candle going near the 21AM (1-2pips) and then enter on the pull-back of the second candle away from 21MA.

I definitely agree about the backtesting/demoing. I’m trying to take it one step at a time (backtesting to demo to real $). Live demoing is a pretty big commitment for me however as I live on the West Coast and have an 8-5 day job.

Welcome to the club - I am in the same situation but sometimes I can look at the screen.

Thanks for all your help, I plan on giving this method all the effort I can!!
See my message within your message - Keep it up!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #868
  • Apr 4, 2007 2:33pm Apr 4, 2007 2:33pm
FXSurfer--sorry did you mean to explain how you use all those additional SMA angles?
  • #869
  • Apr 4, 2007 2:41pm Apr 4, 2007 2:41pm
Quoting Phillip Nel
Info
Hi Phllip

Once again - excellent MP3. Tx for the valuable advice given and not just discussing the charts (e.g. pullback in war zone to be a couple of bars - not just two)
Willem Forex recipe for success = Patience, discipline & hard work.
  • #870
  • Apr 4, 2007 2:45pm Apr 4, 2007 2:45pm
yeah, great. I cannot stress enough how much of a great addition for FF you are, Phillip.

Quoting Golfer
Hi Phllip

Once again - excellent MP3. Tx for the valuable advice given and not just discussing the charts (e.g. pullback in war zone to be a couple of bars - not just two)
  • #871
  • Apr 4, 2007 2:45pm Apr 4, 2007 2:45pm
Quoting kunz78
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
It looks very good.
  • #872
  • Apr 4, 2007 3:30pm Apr 4, 2007 3:30pm
Quoting libertao
FXSurfer--sorry did you mean to explain how you use all those additional SMA angles?
Howdy Libertao!

Just seeing if anyone thought it looked interesting.

I'm basically looking at the SMA Angles as a composite indicator.
The 50,21 and 10 of course corresponding(in period and color) to the MA's
and the SMA Angle 1 (pink) to price itself.

I'm looking to fade swings in the pink against:
1) A nice positive(negative) value "cushion" of the other 3 (or at least the other 2).
2) A syncnonization in slope of the other 3. (This method is somewhat different than the original methodology of this thread.

If anyone is interested in more detail (as I dream it up )
or if this isn't clear(most likely ) let me know.

For now, I'm late for work so, I better run!

See you me friends!

P.S. It's definitely important to note (and perhaps obvious!)
that I'm a trading neophite!


FXS
  • #873
  • Apr 4, 2007 3:34pm Apr 4, 2007 3:34pm
[quote=FXSurfer;263132]
See you me friends!

How about "See you later!
  • #874
  • Apr 4, 2007 5:36pm Apr 4, 2007 5:36pm
Just want to say thanks for this great system.
Good luck all
{ Links Removed }
  • #875
  • Apr 5, 2007 2:40am Apr 5, 2007 2:40am
took my first long gbpjpy, not sure it it`s so good signal as the candle smoothly went little below 21 ema, but turned good , long at 234.47 +11 pips.
  • #876
  • Apr 5, 2007 8:18am Apr 5, 2007 8:18am
Attached my trade of this morning. Entered @09:05GMT. Exit @09:21 by THAT tail.

After such a trade one needs to be strong and get back onto your feet. Just look at the set-ups after the tail and dip.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #877
  • Apr 5, 2007 8:19am Apr 5, 2007 8:19am
eurjpy

hi today eurjpy has given 3 signals, in long all of them turned
+10
+10
+15 this last one starting ny session.

then gbpjpy
-9
+18

then gbpusd
one short +12
  • #878
  • Apr 5, 2007 8:20am Apr 5, 2007 8:20am
Philip,
Just want to thank you for sharing your methods. It's been great help. Here is today's Ny session's eur/jpy opporntunities I took after reading your thread last few days.
Attached Image
  • #879
  • Apr 5, 2007 9:49am Apr 5, 2007 9:49am
last trade

usdcad short 1.1520 +23
thansk phillip a lot, and everybody enjoy the holy week guys.
  • #880
  • Apr 5, 2007 11:59am Apr 5, 2007 11:59am
About the gbp jpy, Id like to know from the ppl trading it what stop do u use, except the spread? I suppose its much wider than for other pairs...
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