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5Min Intraday System

  • #881
  • Edited 6:18am Apr 6, 2007 6:15am | Edited 6:18am
Hi Golfer

I noticed your increasing interest in JPY pairs.
Have a look at this file (pic too big to post clearly)

Each chart shows the price of a pair as a line and has the PhilNel indicator on it.
This allows you compare how many 'PhilNel blobs' each pair produced and at what time. You can go back in time as far as you choose.

From this it seems the JPY pairs are very active.(over the last few weeks)

I mentioned how to do this in an earlier post.

Enjoy.
rorieu

Earlier post #393
Attached File(s)
File Type: zip times golfer.zip   52 KB | 833 downloads
  • #882
  • Apr 6, 2007 9:36am Apr 6, 2007 9:36am
Quoting rorieu
Hi Golfer

I noticed your increasing interest in JPY pairs.
Have a look at this file (pic too big to post clearly)

Each chart shows the price of a pair as a line and has the PhilNel indicator on it.
This allows you compare how many 'PhilNel blobs' each pair produced and at what time. You can go back in time as far as you choose.

From this it seems the JPY pairs are very active.(over the last few weeks)

I mentioned how to do this in an earlier post.

Enjoy.
rorieu

Earlier post #393
Hi R

Tx for the info. I saw that post and I didn't know what it is was all about. After following the JPY pairs and now your post, I've realised what it is all about. Great stuff.

I want to keep an eye of those pairs - Tx
Willem Forex recipe for success = Patience, discipline & hard work.
  • #883
  • Apr 6, 2007 10:05am Apr 6, 2007 10:05am
My first tradeusing the 1 min news release system. Very interesting.

Tx Phillip for the advice and system.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #884
  • Apr 6, 2007 10:41am Apr 6, 2007 10:41am
Info
Attached File(s)
File Type: zip Daily Wrapup 5min 06April2007.zip   629 KB | 965 downloads
  • #885
  • Apr 6, 2007 11:31am Apr 6, 2007 11:31am
I just back tested this strategy on FXAccu Charts from FXsol. It's really good and it works most of the time. The thing is that one must us it with discipline. The only bad side i see to it is that it doesn't really surface most of the time. I'll only advice anyone using this kind of system to take at least 2 to 3 lots on 5-8 pips target...and just smile to ur bed.

Nice one Philip!
  • #886
  • Apr 6, 2007 12:09pm Apr 6, 2007 12:09pm
Quoting Rajj
I just back tested this strategy on FXAccu Charts from FXsol. It's really good and it works most of the time. The thing is that one must us it with discipline. The only bad side i see to it is that it doesn't really surface most of the time. I'll only advice anyone using this kind of system to take at least 2 to 3 lots on 5-8 pips target...and just smile to ur bed.

Nice one Philip!
Patience and discipline is what it takes.
  • #887
  • Apr 9, 2007 7:24am Apr 9, 2007 7:24am
Today short gbpjpy 234.19 at 14:50 (metatrader time), turned out well for +10 pips, it`s the only trade i`ve seen today, i think will be the only one maybe.
  • #888
  • Apr 9, 2007 10:00am Apr 9, 2007 10:00am
Quoting blanca
Today short gbpjpy 234.19 at 14:50 (metatrader time), turned out well for +10 pips, it`s the only trade i`ve seen today, i think will be the only one maybe.
That was a good entry. Real slow day.
I Will keep testing this method live for now.
As we all know, If we can make 10 pips a day consistently, all we have to do is increase the pip value/number of lots to make the kind of money we dream about making. But the keyword is consistent winners.
Goodluck to all
  • #889
  • Apr 9, 2007 10:37am Apr 9, 2007 10:37am
Quoting blanca
Today short gbpjpy 234.19 at 14:50 (metatrader time), turned out well for +10 pips, it`s the only trade i`ve seen today, i think will be the only one maybe.
Hi B

Great use of the 50MA to enter the trade - well done in a quite day so far. Only one other signal (13:50GMT) in GBPU$ resulting in 7 pips - not worth it.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #890
  • Apr 10, 2007 6:56am Apr 10, 2007 6:56am
anyone trading the system today?

my results,

gbpusd, +10
gbpjpy +10,+15,+15,+22,-12,+25
usdjpy +10 -12
eurjpy +11 +12 ,-14


total pips today +92.
  • #891
  • Apr 10, 2007 10:18am Apr 10, 2007 10:18am
Quoting blanca
anyone trading the system today?

my results,

gbpusd, +10
gbpjpy +10,+15,+15,+22,-12,+25
usdjpy +10 -12
eurjpy +11 +12 ,-14


total pips today +92.
Great results!
  • #892
  • Apr 10, 2007 10:59am Apr 10, 2007 10:59am
Quoting blanca
anyone trading the system today?

my results,

gbpusd, +10
gbpjpy +10,+15,+15,+22,-12,+25
usdjpy +10 -12
eurjpy +11 +12 ,-14


total pips today +92.

BLANCTASTIC!
  • #893
  • Apr 10, 2007 12:10pm Apr 10, 2007 12:10pm
Watched the setups for a few days to get the feel of it. Tried it twice--EUR/USD and cable. Both were success. The power of it seems to be pinpointing that entry. Very simple to see ( now that you've shown us ) and use . Thanks for sharing the results of your efforts!
  • #894
  • Apr 10, 2007 12:43pm Apr 10, 2007 12:43pm
Attached my two trades on Cable for the day. I didn't feel comfortable with the trades - slow movements. Exit both probably too early. 6 pips profit.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpu$ 20070410 1.jpg Size: 66 KB
Click to Enlarge Name: gbpu$ 20070410 2.jpg Size: 64 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #895
  • Apr 10, 2007 12:49pm Apr 10, 2007 12:49pm
Attached great examples of the two candle entry method as explained by Phillip. First an area of resistance, then a nic pull back. Entry should be during the pullback of the second candle in the war zone. What set-up! Unfortunately I've missed it.

Also just to show you - 2 set-ups per trend. The 4th set-up (not marked) was a loser!

Just to show you the beauty of this system - if you read the charts correctly.

Please look at the EURJPY during the Asian trading session - also 1-2 possibilities.
Attached Image (click to enlarge)
Click to Enlarge Name: u$chf 20070410 great set-ups.jpg Size: 64 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #896
  • Apr 10, 2007 12:52pm Apr 10, 2007 12:52pm
Quoting blanca
anyone trading the system today?

my results,

gbpusd, +10
gbpjpy +10,+15,+15,+22,-12,+25
usdjpy +10 -12
eurjpy +11 +12 ,-14


total pips today +92.
Great trades - keep it up!!!!!!!!!!!!
Willem Forex recipe for success = Patience, discipline & hard work.
  • #897
  • Apr 10, 2007 1:55pm Apr 10, 2007 1:55pm
Hi Guys,

I was using the EA posted by Mobius but MT told me it had expired?

Anyone else receiving that message?

Thanks - great thread and system
  • #898
  • Apr 10, 2007 2:23pm Apr 10, 2007 2:23pm
Hi folks,

I'm still reading this system after learning Phillips excellent 4hr macd system.

Could someone tell me, would this have been a failed trade: The 50 ema angle looks good and we had a pullback into the 10/21 ema zone.
Attached Image (click to enlarge)
Click to Enlarge Name: usdgbp_bad_trade.jpg Size: 74 KB
If it's too good to be true, it probably is.
  • #899
  • Apr 10, 2007 2:51pm Apr 10, 2007 2:51pm
Quoting SimonK
Hi folks,

I'm still reading this system after learning Phillips excellent 4hr macd system.

Could someone tell me, would this have been a failed trade: The 50 ema angle looks good and we had a pullback into the 10/21 ema zone.
Hi SimonK

Set-up looks OK - very fast move (kept above 10MA) and only that the move was already 60+ pips without a pullback within the war zone. I was careful and waited for a 21MA test. And that was why I closed my two trades very early (see #894). Look at how it tested the 50MA at some points afterwards making it very difficult.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #900
  • Apr 10, 2007 3:33pm Apr 10, 2007 3:33pm
Quoting Golfer
Hi SimonK

Set-up looks OK - very fast move (kept above 10MA) and only that the move was already 60+ pips without a pullback within the war zone. I was careful and waited for a 21MA test. And that was why I closed my two trades very early (see #894). Look at how it tested the 50MA at some points afterwards making it very difficult.
Thanks for the info Willem. I guess I need to apply a bit more discretionary thinking before I use this method.
If it's too good to be true, it probably is.
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