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Trend Follower 5 Minute System

  • #3,101
  • May 12, 2009 11:15am May 12, 2009 11:15am
Quoting pilatus
Excelent Pipinaintez, everything is ok just go on.
Hello Pilatus,

Signal on USD/JPY now what do you think?

Looks good to me?
Attached Image (click to enlarge)
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  • #3,102
  • May 12, 2009 12:48pm May 12, 2009 12:48pm
Quoting Pipinaintez
Hello Pilatus,

Signal on USD/JPY now what do you think?

Looks good to me?
Too risky if you ask me.....
  • #3,103
  • May 12, 2009 12:55pm May 12, 2009 12:55pm
Why?

Here was my resoning for going in:

Steady price movement beforehand 30 Pips. Agreement on higher timeframes. Below volume line. No evidence of strong support. Delayed entry due to two bull candles. Small SL 10 Pips due to Small profit target 20 Pips.


What do you think was the risk? Was it because it was too close to the Support 2 Line?


Cheers
  • #3,104
  • May 12, 2009 1:40pm May 12, 2009 1:40pm
Quoting Pipinaintez
Hi

Been away for a couple of days (work!)

Its from www.trading-evolution.com

Read #3020 and #3023 from Pilatus on this thread.

Cheers
Thanks Pipinaintez...
  • #3,105
  • May 12, 2009 1:58pm May 12, 2009 1:58pm
Quoting Pipinaintez
Why?

Here was my resoning for going in:

Steady price movement beforehand 30 Pips. Agreement on higher timeframes. Below volume line. No evidence of strong support. Delayed entry due to two bull candles. Small SL 10 Pips due to Small profit target 20 Pips.


What do you think was the risk? Was it because it was too close to the Support 2 Line?


Cheers
Well buddy do not take that emotionaly, but for me is risky. Here is why.
First, all day before price was in nice down move-trend. Next, there is no only max volume of yestrday which act as good S/R, we have max volume of last week too and max volume of week before last week. So on level 96,54 is nice max volume of 2 weeks before. That is not part of the system but I take those levels as level of good S/R. Price break that level and went down for more 20-30 pips, but that don't happen all the time.
Now look EUR/JPY today and you will se that price could not break level 130,70, do you know why??
Because if you go to evlution-trading and select last week you will find that second data you get is 130,71, or second max level from last week.
Go there and check and tell me your opinion after..
  • #3,106
  • May 13, 2009 4:23am May 13, 2009 4:23am
[quote=pilatus;2728997]Well buddy do not take that emotionaly, but for me is risky. Here is why.

No Problem my friend.

I wasn't taking that emotionally, sorry if it came across as that. I understand that sometimes it can seem like that because we can't tell the tone of someone when they are writing as opposed to speaking face to face, which is why I always prefer to speak face to face.

I just want to learn from your valuable input as it has been very important in my picking of trades. I just want to be able to pick the best trades and do not have that ability yet and just want to learn from someone who truly can.

Just tell me how it is, I really appreciate it. Wish I could speak with you and abc 997 more during the trading day, would be great. Don't worry I never get annoyed or emotional over advice, I'm cool!

Thanks
  • #3,107
  • May 13, 2009 4:29am May 13, 2009 4:29am
Go there and check and tell me your opinion after..[/quote]

Got it. Thanks.

I don't usually check EUR/JPY is there a big correlation between EUR/JPY and USD/JPY when considering whether to get in on a trade?

Is it because it was struggling to break that level same may happen here?
  • #3,108
  • May 13, 2009 5:27am May 13, 2009 5:27am
[quote=Pipinaintez;2730503]
Quoting pilatus
Well buddy do not take that emotionaly, but for me is risky. Here is why.

No Problem my friend.

I wasn't taking that emotionally, sorry if it came across as that. I understand that sometimes it can seem like that because we can't tell the tone of someone when they are writing as opposed to speaking face to face, which is why I always prefer to speak face to face.

I just want to learn from your valuable input as it has been very important in my picking of trades. I just want to be able to pick the best trades and do not...
Hi Pipinaintez, to be honest you better learn from piltaus, I am not good at using this system. I am great only on hindsight... when I use the demo trade I usually lose.
I believed and still believe that original system has a winning rate of 60%, and with additional criteria discussed along this thread the winning rate should be well above 70%, but when I really take trades in realtime I got winning rate below 50%.
Learning never stops...
  • #3,109
  • May 13, 2009 9:08am May 13, 2009 9:08am
[quote=abc997;2730717]
Quoting Pipinaintez

Hi Pipinaintez, to be honest you better learn from piltaus, I am not good at using this system. I am great only on hindsight... when I use the demo trade I usually lose.
I believed and still believe that original system has a winning rate of 60%, and with additional criteria discussed along this thread the winning rate should be well above 70%, but when I really take trades in realtime I got winning rate below 50%.
abc 997

The very fact you can pick out a good trade is a huge asset. I can see a marked improvement since you first came on. Don't give up just keep demo trading until your win rate goes up.

Trust me, I am not just flattering you, if I could pick out trades like you have on this blog I would be well on my way.
  • #3,110
  • May 13, 2009 9:25am May 13, 2009 9:25am
Quoting pilatus
Well I do next: if r/r ratio is ok I will enter a trade, when price reach resistance stop loss to breakeven, took half and let other half to go. Always look on r/r ratio before enter a trade no matter what resistance or support you see in front of you.( pivot, volume, etc)
Ok thanks for this too.

What sort of R/R do you look for 2:1? more or less?

Cheers
  • #3,111
  • May 13, 2009 9:33am May 13, 2009 9:33am
Thanks Pipinaintez, let me take a break from this system.... I think I know how this system suppose to work, but using it is a bit difference... really need a lot patience.
Learning never stops...
  • #3,112
  • May 14, 2009 10:42am May 14, 2009 10:42am
Hey guys ive been trading this system for 4 months, read the whole thread and have been following it. It seems to have stopped working for the last 2 months. I think im going to move on to something better.

Has anyone here actually made anything from this system in the last few months or is it just my bad skills?
  • #3,113
  • May 14, 2009 2:53pm May 14, 2009 2:53pm
Hi Everybody

I see that it is very popular system so I have two questions:

1)Do You see somewhere EA which basic on Trend Follower?

2)Is it still effective system?
  • #3,114
  • May 15, 2009 4:40am May 15, 2009 4:40am
Quoting marius09
Hi Everybody

I see that it is very popular system so I have two questions:

1)Do You see somewhere EA which basic on Trend Follower?

2)Is it still effective system?
This system is effective always but it is necessary to possess common sense and patience.
  • #3,115
  • May 15, 2009 4:35pm May 15, 2009 4:35pm
Of course but it based on 5 minutes so all day You should stay and watch on computer. It is impossible and I try find some EA. Do You know where can I download EA for this system?
  • #3,116
  • May 18, 2009 1:11pm May 18, 2009 1:11pm
Hi Pilatus and all

No Good trades to report today from my currency pairs. I skipped a few on USD/JPY rightly as they failed.

But My 11 trade winning streak has unfortunately come to an end on this one.

GBP/USD Long 15.35 GMT

My thinking at the time was:

Agreement on Higher time frames. Upward trend established. Above volume line for day.

But Price quite high range before signal, not good. Also reaching highs for the year could be some major resistance. Also WR1 only 20 Pips away poor R/R. Outside boundries of R/S lines, what to do on a Monday? Not a great setup! Probably should not have taken it and will probably pay for it!

Like a fool I took it. Even though there were concerns. But luckily I am demo trading and learning.

Pilatus I would love top hear why you think this trade failed and what your reasoning would be for not taking it. Your always very helpful and I like to analyse my mistakes especially so I don't repeat them.

What do you think about why this went wrong?

Thank you very much
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  • #3,117
  • May 20, 2009 12:41am May 20, 2009 12:41am
Quoting Pipinaintez
Hi Pilatus and all

No Good trades to report today from my currency pairs....
There are 2 reasons why I did not take this trade, first is that price alreday make nice move about 200pips, and second near W1 pivot. Although everything looks that price can not go up more still there was nice move up on other pairs. There is always new oportunitiy if you miss some trade wait for another one less riskier.
  • #3,118
  • May 20, 2009 8:10am May 20, 2009 8:10am
Quoting pilatus
There are 2 reasons why I did not take this trade, first is that price alreday make nice move about 200pips, and second near W1 pivot. Although everything looks that price can not go up more still there was nice move up on other pairs. There is always new oportunitiy if you miss some trade wait for another one less riskier.
Cool Thanks again man.

I need to see a trade which has a perfect setup and set my criteria to that. Also need to make some time to trade. Maybe next week now.

Do you have any examples of recent good setups and what makes them good setups as I am still not sure of everything I am looking for in a good setup?

Cheers
  • #3,119
  • May 20, 2009 9:26am May 20, 2009 9:26am
Excelent signal today on EU, price steady before signal, according this week trend. Second pic is for those who do not believe in volume levels.
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  • #3,120
  • May 21, 2009 3:52pm May 21, 2009 3:52pm
Hey traders. I have a question. Is there any way optimized setting for the Guppy MMAs or has anyone tweeked the settings. I'm primarily asking because for me for some reason the Guppies will show a perfect set up for a downtrend trade but it won't show as clear a rainbow for uptrends. Most of the time I have to guess that the downtrend will reverse upwards without any indication for an uptrend from the rainbow. Any suggestions? Thanks
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