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5Min Intraday System

  • #6,581
  • Mar 27, 2009 7:57am Mar 27, 2009 7:57am
I took the 3rd sister on cable (zoomed in on the chart - three little sisters not really visible - go and look on your chart). Only for 20 pips profit because it was just before the news release and I don't really want to be in trade during that period.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,582
  • Edited 11:17am Mar 27, 2009 11:04am | Edited 11:17am
My two trades today:

1) Thought I saw an elipse forming, plus it qualified for another pattern I've been including in my repertoire. But exited early (more or less BE) when price formed a higher high, which nullified my second pattern. My original TP was hit. Hmmph! It's a great set up when it qualifies for two high-probability patterns, but what happens when ONE of those patterns become invalidated mid-trade? Do you exit the trade? Or do you hang on, since the second pattern is still valid? I guess in this case, I should have hung on.

2) Three lower highs after the news. Exited early when price stalled and I realized that my entry was after the price had ALREADY traveled more than 20 pips of that wave. Good thing I took profit early!
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Money missed is better than money lost
  • #6,583
  • Mar 29, 2009 12:31am Mar 29, 2009 12:31am
Quoting bshadroo
hi
i was watching the same setup but didnt trade,see my reasons on the picture ,monday mornings are dangerous for breakout trades ,at least i should see the breakout first
Hi.
Thanks. Now I begin to understand where I made a mistake. At once has not written as the computer has been broken.
I am learning English, but still cannot speak well.
  • #6,584
  • Mar 30, 2009 3:51am Mar 30, 2009 3:51am
Hi,
Firstly thanks to Phil and Golfer for this simple system, its ideal for me. I made my first trade today however it made a loss of 8pips, but I think I know why. I think the trend was coming to its end as it had trended for 180pips. The SmaAngle was over .4. I'm not sure if that is significant? I've attached a chart to show my trade.

Also I was hoping to be added to the Skype chat my id is markmm75.

Thanks

Mark
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Economists have forecast 9 out of the last 5 recessions
  • #6,585
  • Mar 30, 2009 5:13am Mar 30, 2009 5:13am
I took the third sister (off the 50MA) for 20pips using another 15min system as well.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,586
  • Mar 30, 2009 5:26am Mar 30, 2009 5:26am
Big bearish outside bar on E/U
The open was above the 21 EMA but I still consider it as a good entry.
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  • #6,587
  • Mar 30, 2009 5:30am Mar 30, 2009 5:30am
Quoting markmm
Hi,
Firstly thanks to Phil and Golfer for this simple system, its ideal for me. I made my first trade today however it made a loss of 8pips, but I think I know why. I think the trend was coming to its end as it had trended for 180pips. The SmaAngle was over .4. I'm not sure if that is significant? I've attached a chart to show my trade.

Also I was hoping to be added to the Skype chat my id is markmm75.

Thanks

Mark
Hi Mark

Yes, your entry was way too late in this specific move. There were three possible entries - the other entries were too close to the daily pivot lines. I wouldn't have taken any of those.

That move showed nice market rhythm - that is what you should be looking for.

See more comments on your charts.

I don't think the Skype chat is active any more - maybe someone else can comment.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,588
  • Mar 30, 2009 5:49am Mar 30, 2009 5:49am
Quoting phn
Big bearish outside bar on E/U
The open was above the 21 EMA but I still consider it as a good entry.
Hi Ph

I didn't follow the markets after my three little sister's trade - so I don't know what has happened, I just put some comment on what I've seen on your chart. I switched off my computer because I was satisfied with my 20pips. It would be very interesting to look afterwards what has happened.

I hope your trade did work out - I wouldn't have entered, the triple bottom would have kept me out.

See the comments on the chart.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,589
  • Mar 30, 2009 5:57am Mar 30, 2009 5:57am
Quoting Golfer
Hi Ph

I didn't follow the markets after my three little sister's trade - so I don't know what has happened, I just put some comment on what I've seen on your chart. I switched off my computer because I was satisfied with my 20pips. It would be very interesting to look afterwards what has happened.

I hope your trade did work out - I wouldn't have entered, the triple bottom would have kept me out.

See the comments on the chart.
Hi Golfer,

I just took profits above my TP after a very quick drop on the second swing (yes I got lucky on this one). I guess prices will bounce or fall now, but I'm not risking my gains for 3 more potential pips. Earned 1.13 x the risk.
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  • #6,590
  • Mar 30, 2009 6:52am Mar 30, 2009 6:52am
Quoting phn
Hi Golfer,

I just took profits above my TP after a very quick drop on the second swing (yes I got lucky on this one). I guess prices will bounce or fall now, but I'm not risking my gains for 3 more potential pips. Earned 1.13 x the risk.

Great - I am glad you got some pips because I was worried.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,591
  • Edited 10:30am Mar 31, 2009 10:17am | Edited 10:30am
1 BE + 1 loss today It was hard despite the nice trend we've had.
How is/was your trading today Golfer?
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  • #6,592
  • Mar 31, 2009 11:22am Mar 31, 2009 11:22am
I went short as the price dipped below the pivot line and closed eu for 10 pips.
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  • #6,593
  • Mar 31, 2009 2:55pm Mar 31, 2009 2:55pm
Hello everybody !
My trade today on eurusd :
entry - 1.3279
TP -13289 -below previous high and strong resistance which stop price many times during day
SL -13269 - below R1 line
SMA not Ok - I focus my attention on resistance change to support

result +10 pips
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  • #6,594
  • Mar 31, 2009 3:49pm Mar 31, 2009 3:49pm
Did anyone catch the 3rd sister off the 50MA. I hope so. I saw it dip down after the second sister and thought that this could be a good trade setting up... maybe a 3rd sister that would bounce off the 50 MA. I came back to my computer maybe 45 min later and there it was. If you look on phillip 4hr method you will see that the green dotted line is approx the 21 MA. This was the the beginning of what will probably be TC on the 4 hour method. When things set up like this, I will divide my lots into 3s with one TP at 10 pips, set the second at 10-20 pips depending on candles, and let the 3rd one run.
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  • #6,595
  • Apr 1, 2009 2:10am Apr 1, 2009 2:10am
Quoting phn
1 BE + 1 loss today It was hard despite the nice trend we've had.
How is/was your trading today Golfer?
Lately I don't really have time to trade - just too busy with my full-time job.

Two trades on EURO combined with another system I am using (because it was late in the day - I was able to catch it). I've entered using the three little sisters - the same setup as posted by Morelands. The first trade for 12pips (the third sister)and the second trade for 10pips (the fourth sister).
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,596
  • Apr 1, 2009 2:28am Apr 1, 2009 2:28am
Quoting Morelands
Did anyone catch the 3rd sister off the 50MA. I hope so. I saw it dip down after the second sister and thought that this could be a good trade setting up... maybe a 3rd sister that would bounce off the 50 MA. I came back to my computer maybe 45 min later and there it was. If you look on phillip 4hr method you will see that the green dotted line is approx the 21 MA. This was the the beginning of what will probably be TC on the 4 hour method. When things set up like this, I will divide my lots into 3s with one TP at 10 pips, set the second at 10-20...
My two entries on your chart. Later Cable gave also a great example of 3 big brothers but SMAangle was not yet in line.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,597
  • Apr 1, 2009 2:31am Apr 1, 2009 2:31am
Quoting ARtuRO
Hello everybody !
My trade today on eurusd :
entry - 1.3279
TP -13289 -below previous high and strong resistance which stop price many times during day
SL -13269 - below R1 line
SMA not Ok - I focus my attention on resistance change to support

result +10 pips
Great analysis - sometimes one can ignore some of the rules but just be very careful. I do the same.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,598
  • Apr 1, 2009 5:57am Apr 1, 2009 5:57am
Small pin retesting the S/R zone
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  • #6,599
  • Apr 1, 2009 11:59am Apr 1, 2009 11:59am
My trades for today. On the first trade: Moved SL to BE when price hit the mid-way to TP. Stopped out as price reversed.
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Money missed is better than money lost
  • #6,600
  • Apr 1, 2009 1:28pm Apr 1, 2009 1:28pm
Quoting Dahlia
My trades for today. On the first trade: Moved SL to BE when price hit the mid-way to TP. Stopped out as price reversed.
My comments on the warning signals on your chart.
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Willem Forex recipe for success = Patience, discipline & hard work.
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