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5Min Intraday System

  • #6,601
  • Apr 1, 2009 1:31pm Apr 1, 2009 1:31pm
Quoting phn
Small pin retesting the S/R zone
Nice power candle on your entry - well traded.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,602
  • Apr 1, 2009 4:09pm Apr 1, 2009 4:09pm
Hey Dahlia,
Nice second trade today. I have a question regarding your 50 MA. It looks like yours is exponential. I believe it is a simple moving average.

Raymond

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.
  • #6,603
  • Apr 1, 2009 9:03pm Apr 1, 2009 9:03pm
Quoting Morelands
Hey Dahlia,
Nice second trade today. I have a question regarding your 50 MA. It looks like yours is exponential. I believe it is a simple moving average.

Raymond
Hi Raymond,

Yes, it's the EMA. I like the backtested results with the EMA better, with some of my modifications to the strategy ...

Dahlia
Money missed is better than money lost
  • #6,604
  • Apr 2, 2009 10:39am Apr 2, 2009 10:39am
My trade today: tightened my SL to half point when price is 3/4 the TP distance. Stopped out, before the original TP was hit.
Oh well, shouldn't complain about positive pips!
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Money missed is better than money lost
  • #6,605
  • Apr 3, 2009 2:28am Apr 3, 2009 2:28am
will work in trends . Dont trade during major news with this method . coz in news times the spread is usually larger and and losses will be bigger.
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  • #6,606
  • Apr 3, 2009 6:20am Apr 3, 2009 6:20am
15 pips from a short entry of the pullback to the triangle breakout.
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  • #6,607
  • Apr 3, 2009 7:46am Apr 3, 2009 7:46am
Quoting mdowd
15 pips from a short entry of the pullback to the triangle breakout.
Hi Md

Great trade but I won't classified as a triangle breakout trade. See my comments on your chart of the possible triangle breakout trade. But it didn't happen. So then you anticipate the next move and that is the bounce off the small resistance line to form the third sister (because there is a lower low between the other two sisters)

So I would say you've taken the third sister as your entry.

Just some technical stuff - it's really nice trade

Also just to show people how you anticipate and be prepared for the next move.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,608
  • Apr 3, 2009 8:02am Apr 3, 2009 8:02am
Not proud of the trade because the third down bar went a little deep. But it looked like a good reaction so I took it for 12 pips.
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  • #6,609
  • Apr 3, 2009 8:19pm Apr 3, 2009 8:19pm
Quoting mdowd
Not proud of the trade because the third down bar went a little deep. But it looked like a good reaction so I took it for 12 pips.
That is one heck of a bullish 3, I think the bull candle is 80 pips.
  • #6,610
  • Apr 4, 2009 4:43am Apr 4, 2009 4:43am
Quoting Morelands
That is one heck of a bullish 3, I think the bull candle is 80 pips.
WOW, yes I do agree - nice example of a Bullish 3 pattern but the bullish candle is way too big!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,611
  • Apr 4, 2009 5:13am Apr 4, 2009 5:13am
10 pips are usually filled very fast !!
So brokers usually have a problem when u get out of the trades very fast .

So can u suggest me a broker where i can apply this strategy and not get banned .
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  • #6,612
  • Apr 4, 2009 5:16am Apr 4, 2009 5:16am
Quoting geico
10 pips are usually filled very fast !!
So brokers usually have a problem when u get out of the trades very fast .

So can u suggest me a broker where i can apply this strategy and not get banned .
Hi Gei

I am using IBFX (InterbankFX) now for a few years (only a mini account -will change to a standard account in may/Jun 2009) now without any problems whatsoever. And I am outside the USA.

I hope it helps but there are many other brokers out there.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,613
  • Apr 4, 2009 5:31am Apr 4, 2009 5:31am
Thanks for your comments and guidenance in your trades it is invaluable.

I have a question with regard to InterbankFX Metatrader.
I wondered whether you may have experienced a similar instance as I have had - when I try to scroll to see past trades on 5 min chart the chart returns after couple of seconds to the present time and it is not alowing me to go back to backtest but only for a couple of seconds.

If you have experienced this, how then you managed to keep the charts from returning to present time. I have no issues with 1H,4H or Daily charts but 5 min is behaving like no other.

Can you help?
Many thanks
Jideck
  • #6,614
  • Apr 4, 2009 5:44am Apr 4, 2009 5:44am
Quoting Jideck
Thanks for your comments and guidenance in your trades it is invaluable.

I have a question with regard to InterbankFX Metatrader.
I wondered whether you may have experienced a similar instance as I have had - when I try to scroll to see past trades on 5 min chart the chart returns after couple of seconds to the present time and it is not alowing me to go back to backtest but only for a couple of seconds.

If you have experienced this, how then you managed to keep the charts from returning to present time. I have no issues with 1H,4H or Daily...
Hi J

Only a pleasure - maybe somebody can pick up some nice tips to see if it fits their style of trading.

No, I don't have problem with the 5min charts. I am sure you've looked at your chart properties by using F8 key on your keyboard. Then look under "Common" and make sure you have "uncheck" the option "chart autoscroll" on your charts. If you have done that and the charts are still moving back, then I don't have an answer. Maybe you need to contact IBFX.

I hope it helps
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,615
  • Edited 12:48pm Apr 4, 2009 12:11pm | Edited 12:48pm
What is a good previous day range for 5 min trading & What effect does the previous day's range have on the 5min Intraday System?

For instance during the big plunge on the G/U the daily was putting up big daily numbers like 400-600 pips per day. Recently it's a lot smaller. So how has that effected peoples TP? It seems people are aiming for 20 pips.

Also it looks like the week & Month is trying to retrace. Makes me think that the long daily candles might soon return.
  • #6,616
  • Apr 5, 2009 1:13am Apr 5, 2009 1:13am
Quote
Hi Gei

I am using IBFX (InterbankFX) now for a few years (only a mini account -will change to a standard account in may/Jun 2009) now without any problems whatsoever. And I am outside the USA.

I hope it helps but there are many other brokers out there.

I heard IBFX bans people whose trades last for 2 minutes or less.
10 pips in trendy markets usually gets filled within a few seconds. Wonder if they allow this technique in a standard account .
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  • #6,617
  • Apr 5, 2009 1:34am Apr 5, 2009 1:34am
Quoting Golfer
Hi J

Only a pleasure - maybe somebody can pick up some nice tips to see if it fits their style of trading.

No, I don't have problem with the 5min charts. I am sure you've looked at your chart properties by using F8 key on your keyboard. Then look under "Common" and make sure you have "uncheck" the option "chart autoscroll" on your charts. If you have done that and the charts are still moving back, then I don't have an answer. Maybe you need to contact IBFX.

I hope it helps

Thanks Willem.
  • #6,618
  • Apr 5, 2009 2:46am Apr 5, 2009 2:46am
Quoting Enterplay
What is a good previous day range for 5 min trading & What effect does the previous day's range have on the 5min Intraday System?

For instance during the big plunge on the G/U the daily was putting up big daily numbers like 400-600 pips per day. Recently it's a lot smaller. So how has that effected peoples TP? It seems people are aiming for 20 pips.

Also it looks like the week & Month is trying to retrace. Makes me think that the long daily candles might soon return.
Hi Enter

To be honest, I don't look at the previous day's range. Only looking at the previous day's High/Low which could act as possible support/resistance. Maybe somebody else has a different opinion. I would like to hear from them.

What I am doing, is to look at Phillip's 4h MACD system rules and look at my 4h chart to see what the price is doing and trying to trade according to that rules and movements.

Then I am more focused on the current day's range. If it is around 100-150pips, I'll be very careful.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,619
  • Apr 5, 2009 2:47am Apr 5, 2009 2:47am
Quoting Jideck
Thanks Willem.
Pleasure, I hope it helped or IBFX helped you.

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,620
  • Apr 5, 2009 6:22am Apr 5, 2009 6:22am
@ALL I m not forex trader but i m equity index trader.Can I use this strategy for Index intraday?Plz reply.Thanks.
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