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5Min Intraday System

  • #941
  • Apr 13, 2007 7:25am Apr 13, 2007 7:25am
hi guys, good morning

today i see we had a lot of signals, here we had this morning an earthquake so the light went off for a while and could not take them, but i`ll post the results anyway if i had been here today.

usdchf +10,+10,+10,+10,+10
gbpusd +10,+10
usdjpy +10,+10,+10,+10,-12
eurjpy -12,+10
gbpjpy -14, +10,+10

so this earthquake was expensive, the only trade i`ve taken is using 1min gbpjpy a long at 235.43, +20.
  • #942
  • Edited 8:57am Apr 13, 2007 8:29am | Edited 8:57am
long eurjpy 160.44 with 5min chart, lets see how it goes. reaching now 160.62 +18 pips. Consumer sentiment is about to be released i wont trade anymore, friday ny is usually difficult.
  • #943
  • Apr 13, 2007 9:40am Apr 13, 2007 9:40am
Quoting Pipsi cola
you're welcome, fxnorth!

many nice setups today on usd/jpy and usd/chf. unfortunately i hesitated to pull the trigger waiting for a better price and missed all those moves. not a single deal. talkin bout a friday the 13th
Hi Pipsi

Great set-ups, I agree. Talking about Fri 13th - my MT4 platform crashed this morning. No trades today - also too busy to trade.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #944
  • Apr 13, 2007 9:43am Apr 13, 2007 9:43am
Quoting blanca
long eurjpy 160.44 with 5min chart, lets see how it goes. reaching now 160.62 +18 pips. Consumer sentiment is about to be released i wont trade anymore, friday ny is usually difficult.
Hi B

Sorry to hear. Looking at the EURJPY - are you finished with such a run?

Just joking - I think it a good decision.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #945
  • Apr 13, 2007 9:47am Apr 13, 2007 9:47am
I think - be careful with this run. Too quick but lets see.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #946
  • Apr 13, 2007 10:25am Apr 13, 2007 10:25am
My first live trade with Mr. Nels system.

I like it.
Attached Image
  • #947
  • Apr 13, 2007 1:45pm Apr 13, 2007 1:45pm
Hi Phil and all others

I have noticed that the best trades are the first few setups after the 10 + 21 cross the 50.

Your opinions please?
  • #948
  • Apr 13, 2007 1:57pm Apr 13, 2007 1:57pm
Quoting Silver
Hi Phil and all others

I have noticed that the best trades are the first few setups after the 10 + 21 cross the 50.

Your opinions please?
Hi Silver.

Yes, my observation as well. I am currently looking into it. What I want to do is:

Wait for 10&21MA to cross 50MA and then wait for 21MA on SMAangle to cross 0.1 line. Then I want to look back to observe the history.

The first price pull-back is usually to the 10MA and bounches of it (fast speed). Enter when price touches the 10MA.

The next pull back is usually into the war zone (medium speed). Use the 2 candle pull-back entry.

The 3rd pull back is usually through the 21MA and one can enter back into the war zone.

One needs to identify the cross-over (10/20 over 50) and take it from there. Trading before the 21MA crossed the 0.1 line would be risky.

It is just my observation and it doesn't occur like that everytime.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #949
  • Apr 13, 2007 2:30pm Apr 13, 2007 2:30pm
Someone on this thread... I believe it was Golfer noticed the first two opportunities of the day had a high hit rate.

I have no historical data to back it up but I believe he's on to something.

Once the US session finds a direction it appears the first two trades have a clean setup.

This morning (EUR/USD) there were two text book trades.

I missed the second one but it would have gone for profit.

I hope some of you hit both.
  • #950
  • Edited 2:36pm Apr 13, 2007 2:30pm | Edited 2:36pm
Just to explain Phillip's comments on this trade - why should one not take it.
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070413 no trade.jpg Size: 67 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #951
  • Apr 13, 2007 2:43pm Apr 13, 2007 2:43pm
Sorry all.

I just noticed I was trading on the one minute chart.
  • #952
  • Apr 13, 2007 11:43pm Apr 13, 2007 11:43pm
Quoting Golfer
Just to explain Phillip's comments on this trade - why should one not take it.
I lost 10 pips from this trade,
  • #953
  • Edited 2:34am Apr 14, 2007 2:13am | Edited 2:34am
Quoting FXtrans
I lost 10 pips from this trade,
Hi FXt

I also was looking at the formation of that set-up (post#950 on this page) but I don't like to take a trade after a close on the wrong side of the 21MA (between 21 & 50MA). It is part of my own rules - sign that the trend is going into slow speed meaning risky trades.

That was why I ignored the set-up.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #954
  • Apr 14, 2007 12:52pm Apr 14, 2007 12:52pm
Quoting Golfer
Hi FXt

I also was looking at the formation of that set-up (post#950 on this page) but I don't like to take a trade after a close on the wrong side of the 21MA (between 21 & 50MA). It is part of my own rules - sign that the trend is going into slow speed meaning risky trades.

That was why I ignored the set-up.
Hi Golfer,

Thanks for the reply. But how can you know whether it will close on the wrong side. Actually I entered at the 5th bar after your green line, at that time it looks like a perfect set up for the 5min system.
  • #955
  • Apr 14, 2007 3:15pm Apr 14, 2007 3:15pm
Quoting Golfer
Hi Silver.

Yes, my observation as well. I am currently looking into it. What I want to do is:

Wait for 10&21MA to cross 50MA and then wait for 21MA on SMAangle to cross 0.1 line. Then I want to look back to observe the history.

The first price pull-back is usually to the 10MA and bounches of it (fast speed). Enter when price touches the 10MA.

The next pull back is usually into the war zone (medium speed). Use the 2 candle pull-back entry.

The 3rd pull back is usually through the 21MA and one can enter back into the war zone.

One needs to identify the cross-over (10/20 over 50) and take it from there. Trading before the 21MA crossed the 0.1 line would be risky.

It is just my observation and it doesn't occur like that everytime.
I got to say this system is sweet. Been trading positive now around 75-80% positive and plan to do studying of the trade results this weekend. I have noticed that on the some first trades after the 50 MA crossing that everthing is there except the 21. However, your given a nice strong 2 o'clock angle (long trade). Maybe some of the risk is removed if the angle of the 21ma is strong enough? I did notice that if the 21 ma is flat when given an entry, it tends to be a loser. I wasn't able to go too far back so was hoping you or anyone might have something to add.

Pip Hunter!
PipHunter
  • #956
  • Edited 12:16am Apr 15, 2007 12:01am | Edited 12:16am
Quoting FXtrans
Hi Golfer,

Thanks for the reply. But how can you know whether it will close on the wrong side. Actually I entered at the 5th bar after your green line, at that time it looks like a perfect set up for the 5min system.
Hi Fxt

Yes, it looked like a perfect set-up and I was looking for an entry myself. And now, you won't know if the close will be above the 21MA.

This is how I am trying to entry - 3 possibilities:

1. Fast speed: Wait for the price to bounch of the 10 MA - tend to do that on the first pull-back after the 50MA cross. Also during a strong trend move (look at the EURJPY for excellent examples). However, very risky.

2. Medium speed: 2-4 candle enter method within the war zone. Wait for a pull-back from 21MA towards the 10MA. Enter usually a few pips from the 21MA. Not always possible.

Just look at the attched example:
I was waiting for a pullback from the 21MA. If the pullback occured on the candle with the "correct mark", I would have entered. But the candle with the first "cross mark" had a close already on 21 MA. The next candle had a close above the 21MA - my rule said stay out from now on.

3. SLow speed: Enter on a bounch of the 50MA - not recommended.

Just my opinion and rules. You need to develop your own rules and stay with it.

Just another issue - I do exit within 5-6 pips after enter if there is now movement. As close a possible to BE even it it means a 2-3 pips loss.

Great exit point should have been @ around 16:45 on this chart - 6 candles witout any movement.
Attached Image
Willem Forex recipe for success = Patience, discipline & hard work.
  • #957
  • Apr 15, 2007 12:13am Apr 15, 2007 12:13am
Quoting Pip Hunter
I got to say this system is sweet. Been trading positive now around 75-80% positive and plan to do studying of the trade results this weekend. I have noticed that on the some first trades after the 50 MA crossing that everthing is there except the 21. However, your given a nice strong 2 o'clock angle (long trade). Maybe some of the risk is removed if the angle of the 21ma is strong enough? I did notice that if the 21 ma is flat when given an entry, it tends to be a loser. I wasn't able to go too far back so was hoping you or anyone might have something to add.

Pip Hunter!
Hi PP

I had a horrible week with trade last week - didn't have time to analise the markets before entering - still negative as results are concerned. But yes, great system. Great for you! Hope to join you soon.

I am looking into the fast speed system and entering points. No decision yet.

I did a few analises myself this week-end looking at the entry points. I will post a few later today.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #958
  • Edited 9:05pm Apr 15, 2007 8:12pm | Edited 9:05pm
today trades
it`s sunday and i was watching the openning, two longs gbpjpy 237.00 and 237.16, both +10, right now gbpjpy short 236.76 target 236.66 let`s see how it goes.

in eurjpy also two longs 161.86 for +15 and 162.16 -15, right now also a short at 161.62 i`ll try to get in both at least +8. lets see.

got +10 for eurjpy but gbpjpy is taking too long, i am closing it with -5
  • #959
  • Apr 16, 2007 12:56am Apr 16, 2007 12:56am
Quoting Golfer
Hi Fxt

Yes, it looked like a perfect set-up and I was looking for an entry myself. And now, you won't know if the close will be above the 21MA.

This is how I am trying to entry - 3 possibilities:

1. Fast speed: Wait for the price to bounch of the 10 MA - tend to do that on the first pull-back after the 50MA cross. Also during a strong trend move (look at the EURJPY for excellent examples). However, very risky.

2. Medium speed: 2-4 candle enter method within the war zone. Wait for a pull-back from 21MA towards the 10MA. Enter usually a few pips from the 21MA. Not always possible.

Just look at the attched example:
I was waiting for a pullback from the 21MA. If the pullback occured on the candle with the "correct mark", I would have entered. But the candle with the first "cross mark" had a close already on 21 MA. The next candle had a close above the 21MA - my rule said stay out from now on.

3. SLow speed: Enter on a bounch of the 50MA - not recommended.

Just my opinion and rules. You need to develop your own rules and stay with it.

Just another issue - I do exit within 5-6 pips after enter if there is now movement. As close a possible to BE even it it means a 2-3 pips loss.

Great exit point should have been @ around 16:45 on this chart - 6 candles witout any movement.
Attachment for #956
Attached Image (click to enlarge)
Click to Enlarge Name: euru$ 20070413 1 no trade.jpg Size: 44 KB
Willem Forex recipe for success = Patience, discipline & hard work.
  • #960
  • Apr 16, 2007 12:59am Apr 16, 2007 12:59am
just a few examples of last week's set-ups. Note the patterns before entry.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: u$jpy 20070412 great example.jpg Size: 60 KB
Click to Enlarge Name: u$jpy 20070410 great example.jpg Size: 56 KB
Click to Enlarge Name: u$jpy 20070402 great example.jpg Size: 58 KB
Click to Enlarge Name: u$jpy 20070329 great example.jpg Size: 58 KB
Willem Forex recipe for success = Patience, discipline & hard work.
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