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Trend Follower 5 Minute System

  • #2,981
  • Apr 20, 2009 11:45am Apr 20, 2009 11:45am
the reason for this is maybe that these are important support levels。
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  • #2,982
  • Apr 20, 2009 3:02pm Apr 20, 2009 3:02pm
Quoting fatpanda
the reason for this is maybe that these are important support levels。
You are absolutely right. The price wouldn't stay in a level with no S/R or Fib for a long time, after awhile it will have to make a decision, either going back to testify the closest S/R or going further along with the main trend.
  • #2,983
  • Apr 20, 2009 11:52pm Apr 20, 2009 11:52pm
Quoting fatpanda
the reason for this is maybe that these are important support levels。
Prices seldom breaks through S3, and even it break it would not be for much.
Learning never stops...
  • #2,984
  • Apr 21, 2009 7:20am Apr 21, 2009 7:20am
Quoting WilteredFire
There's talks of banks being lent another £60billion to bail them out. Not sure why its not on the BBC's homepage.

Also theres some mess with General Motors going on at the moment, IMO the dollars only being manipulated to make it look strong. not long before it comes right back down with a great big thud

Anyway, news aside...best to trade what you see and not what we think. Best of luck.

Btw pilatus its nice to see you are still here. Im going to go through some of the pages from this week and last week, and I may try to get back into...
Vish, nice to see you here again, buddy! IF you want to chat I am on same location as before.
  • #2,985
  • Apr 21, 2009 5:59pm Apr 21, 2009 5:59pm
Hows the weather In Greece Pilatus? Hope things are well with you, miss trading with you and Timex.

Well, im glad i've come back to my roots and sticking around with the Trend Follower as its a system Im sure i'll do well with.

Guys having said that...I will be trading with the Trend Follower using m1 signals as well as m5. Im highly interested in scalping as I have been for the past year or more, Im looking to take trades off the m1 chart as well as the m5 chart, im definately not going to try and add in other indicators to adjust the system, because its good to see its still working, simple and elegant. I like it.

Some moves take off without the Laguerre being in the correct position, often its already moved up into the 0.75 area making you miss the trade...I plan on getting into the m5 trade based on signals given on the m1 chart. Again, this is not to divert the thread, put If i have success I will keep people posted as the More pips, the merrier. Why not milk forex for every pip we can

All the best.
  • #2,986
  • Apr 21, 2009 10:16pm Apr 21, 2009 10:16pm
Quoting WilteredFire
Hows the weather In Greece Pilatus? Hope things are well with you, miss trading with you and Timex.

Well, im glad i've come back to my roots and sticking around with the Trend Follower as its a system Im sure i'll do well with.

Guys having said that...I will be trading with the Trend Follower using m1 signals as well as m5. Im highly interested in scalping as I have been for the past year or more, Im looking to take trades off the m1 chart as well as the m5 chart, im definately not going to try and add in other indicators to adjust the system,...
Great to hear someone using M1. I would also like to share something about this TF. First, theoretically, it will give you 5 times more signal than M5 timeframe, and so you don't need that much patient. Nevertheless, since the spread is the same as M5, but the movement range in principle is only square root of 5 of M5. That means the trading cost is about just more than 2 times of that of M5. Also, the spike in M1 is more likely that spike in M5.
Learning never stops...
  • #2,987
  • Apr 22, 2009 4:53am Apr 22, 2009 4:53am
Looking at the H1 TF of the major pairs, look like a good trend will not be established at the moment. Better stay away... right?
Learning never stops...
  • #2,988
  • Apr 22, 2009 5:44am Apr 22, 2009 5:44am
Quoting abc997
Looking at the H1 TF of the major pairs, look like a good trend will not be established at the moment. Better stay away... right?
This is area where I expect signal. Above and bellow, not in range(blue rectangle)
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  • #2,989
  • Apr 22, 2009 5:47am Apr 22, 2009 5:47am
Quick 1min trade, safe...just crossed back up pivot, Laguerre was spot on though...One other thing, on the m5, was guppy was becoming disoriented, the yellow started to cross back over the red, so there was no proper established trend on the m5...only trend we have is on the m1 for the moment.

1st trade, win win. Cha-ching +10pips

I'll post more trades soon.
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  • #2,990
  • Apr 22, 2009 5:59am Apr 22, 2009 5:59am
Nice one Az

good oh testing on m1 up +26 today

Still getting to grips with rules.

Not clear about re entries any ideas?

rgds

Rob
  • #2,991
  • Apr 22, 2009 6:29am Apr 22, 2009 6:29am
Feeling riskier to trade in M1. Great to see more posting about it. So I can see how it perform. I am not completely sure if the risk/reward ratio is good, at least it is not as good as those in M5, I tend to be more conservative in seeing trade in M1 than in M5. I would think only pairs with smaller spread such as EUR/USD, USD/JPY, GBP/USD worth looking at.
Learning never stops...
  • #2,992
  • Apr 22, 2009 6:30am Apr 22, 2009 6:30am
Quoting pilatus
This is area where I expect signal. Above and bellow, not in range(blue rectangle)
Thanks pilatus, I think it make very good sense, no sure if a S/R breakout may happen today. Best Luck!
Learning never stops...
  • #2,993
  • Apr 22, 2009 10:14am Apr 22, 2009 10:14am
Quoting pilatus
This is area where I expect signal. Above and bellow, not in range(blue rectangle)
Hi Pilatus and all,

I have been away for a while, taking Pilatus' advice and started to look for trend lines, channels, Fibs etc to help with my trading to establish when to enter. There is a post in the THV system (Post 75 I think) which pretty much exactly describes what I have been through but hopefully now I am at the stage a trader is born.

A lot to learn but now at least I know why some of my trades fail. Ha ha.

This is an excellent chart posted by Pilatus and his analysis was once again spot on, unfortunately we did not get a signal on M5 Timeframe to enter long as Price breaks upper resistance.

One question Pilatus, how Did you compress that M5 chart to get so much data on it? I am not very computer literate but that would be very useful to see the chart like that and determine price action.

Cheers

P.s. good to see people back on this thread like Wiltered Fire, How's it going Mate been a long time, also shout out to Rob24Hrs in Hartlepool representing the North East of England
  • #2,994
  • Apr 22, 2009 10:55am Apr 22, 2009 10:55am
Quoting Pipinaintez
Hi Pilatus and all,

I have been away for a while, taking Pilatus' advice and started to look for trend lines, channels, Fibs etc to help with my trading to establish when to enter. There is a post in the THV system (Post 75 I think) which pretty much exactly describes what I have been through but hopefully now I am at the stage a trader is born.

A lot to learn but now at least I know why some of my trades fail. Ha ha.

This is an excellent chart posted by Pilatus and his analysis was once again spot on, unfortunately we did not get a signal...
Oh, England is in the centre of the world when talking about forex trading.

Yes, TrendFollower did not give signal during the S/R channel breakout today for EURUSD. Trendfollower will only give signal when trends has been established and prices recovered from overbought/oversold. If you want to trade S/R breakout or rebound, I think this is a good thread http://www.forexfactory.com/showthread.php?t=86429
but this is not Trendfollower trading.

For adjusting the horizontal scale, drag the time line to left or right, see the attached figures
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Learning never stops...
  • #2,995
  • Apr 22, 2009 11:05am Apr 22, 2009 11:05am
Quoting abc997
Oh, England is in the centre of the world when talking about forex trading.

Yes, TrendFollower did not give signal during the S/R channel breakout today for EURUSD. Trendfollower will only give signal when trends has been established and prices recovered from overbought/oversold. If you want to trade S/R breakout or rebound, I think this is a good thread http://www.forexfactory.com/showthread.php?t=86429
but this is not Trendfollower trading.

For adjusting the horizontal scale, drag the time line to left or right, see the attached...

Thanks ABC

How's your trading going?
  • #2,996
  • Apr 22, 2009 11:40am Apr 22, 2009 11:40am
Quoting Pipinaintez
Thanks ABC

How's your trading going?
Learning, learning and learning...
Learning never stops...
  • #2,997
  • Apr 22, 2009 2:12pm Apr 22, 2009 2:12pm
Quoting Pipinaintez
Hi Pilatus and all,

I have been away for a while, taking Pilatus' advice and started to look for trend lines, channels, Fibs etc to help with my trading to establish when to enter. There is a post in the THV system (Post 75 I think) which pretty much exactly describes what I have been through but hopefully now I am at the stage a trader is born.

A lot to learn but now at least I know why some of my trades fail. Ha ha.

This is an excellent chart posted by Pilatus and his analysis was once again spot on, unfortunately we did not get a signal...
Hi buddy. Very simple, just click on minus or plus to zoom out or in. Look at picture. Now tell us that we can know, why did you make mistakes, so that everyone here can learn from same mistakes, thanks.
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  • #2,998
  • Apr 23, 2009 4:36am Apr 23, 2009 4:36am
Quoting pilatus
Hi buddy. Very simple, just click on minus or plus to zoom out or in. Look at picture. Now tell us that we can know, why did you make mistakes, so that everyone here can learn from same mistakes, thanks.
Appreciated and wait for your ideas. Thanks !
  • #2,999
  • Edited 10:57am Apr 23, 2009 10:36am | Edited 10:57am
Let me share four examples on M1 today. There are no "outside-channel" trend today. So to play safe, I need to have S/R to back the TrendFollower signals. In example 1 below there is a S/R on HTF around the horizontal line. The TrendFollower signal is backed by the S/R. Since I am using M1, I cannot use the typical take profit target such as S1/S2/S3/R1/R2/R3 as it is in M5. I use the Slope direction line signal instead. You can see the profit is only 10 pip after paying for the spread.
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Learning never stops...
  • #3,000
  • Apr 23, 2009 10:39am Apr 23, 2009 10:39am
For this second one, the TrendFollower signal is also backed by the horizontal line, which is a S/R in HTF too. Nevertheless, this time the profit is very small 2-3 pip. clearly not a good risk-reward ratio.
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Learning never stops...
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