Mrs V's fave 1 min entry

5 chances to get in this move on ej, we took 2. GU was not looking good to us.

Took this one as we saw it as a last gasp chance to move down to y's low at 128.85. Moved stop to BE very quickly out at +10 when it didn't follow through.

Missed opportunity number 7927 but one I'm happy to let go by. Previous 1hr candle a hammer with good vol and just before eur news.

Just looking to highlight the number of potential trades, i.e. if you miss one/can't get entry whatever theres lots of opportunities. These carry on from where I finished trading ej above. I'm not worried about set ups for these examples (hourly candle or hl's/lh's on 5 min) just angle on purple 34 ema, 3 indi's lined up and price moves on.

The good, the bad and the ugly.

Next ..........

Almost there .............

Last one .............

Lots of opportunities to trade in a day. Have good angle up or down on 34 ema and avoid those times where ema is flat.

Good to see the setups still coming.

Your descriptions of the entries are very clear. Can you say (write?) a few words about the trade management? In the end, this is where the game is won or lost. I presume stops are a pip or two below the recent high/low for that swing, which I guess coincides with the recent 5 min low. Do you scale out at all? or just let the trade run? Will you close if price comes back to your entry level and wait for another shot? - or do you have a target in mind, and will sit and wait for either stop or target? Is the target based on a 60 min swing high or low or will you bail out at around 20 pips rather than give anything back? Do you occasionally hold overnight? I have been following along, but trade EU only, and it is clear EU is not giving the same frequency of opportunity right now that you have with EJ and GU.

And for anybody who wants something to show when all three indicators line up (RSI crossed up, MACD rising and stoch rising) I put together an adaptation from a similar indicator for the Force 5, which is attached. The first blue bar shows the first occurrence when all 3 indis are rising and the first red bar shows first occurrence of them all falling. For me, it makes it slightly easier to look at the candles and ema's and then just glance down at the indicators to see the state of play.

EJ seemed a better option this morning than gu. 2 trades, a nice winner and the second a small loser it didn't push on.

Normally we do not worry about pivots etc in a strong run. However we had a double top so this second trade was in hindsight not a good idea.

After a small hl on 5 min we did consider this but didn't take as ema was flatlined.

Was looking at ej but gu did give some good chances to enter.

More gu.

Hi Royston
Thanks for the traffic lights, I'll try out. It will be interesting to see if some trades are excluded as what may look like a touch just eyeballing is not per the indi.

Stops tend to be 15 odd pips wherever that is. If another pip or two will give me cover of an even number, pivot or fib thats fine.

We sometimes scale out but majority is close all.

Exits are around even numbers, fibs, pivots. If I am 20 pips up and the fib is 10 pips away I'll look to exit at the fib. However if it looks like its struggling I'd rather exit with 15 than BE.

If I'm 12 up say I'll get out at BE rather than risk a losing trade as more entries are around the corner to re-enter. No-one went bust putting pips in the bank. Also I'll never ever want to see a 20 pip trade go by without getting something out of it.

On long runs (150 pips and up) I have entered and banked pips 4/5 times.

I never hold overnight.

I hope this helps, this is just the way that I trade which of course doesn't make it right.

Getting in on the first higher low/lower high of a move and hanging in will probably be the best strategy. I'm trying to overcome my scalpers mind set to get this right. Having said all that system is proving very effective.

Seems to work 100%, many thanks Royston.

Cheers,

V's.

Just had a thought IF its not too much trouble. A filter for buy signals only above ema and sells only below? If not this is fine.

I've added the 1 min template with Mrs V's traffic lights to first post.

Thanks again Royston.

Cool .

Hi V,
Thanks for your continuing excellent work! - a benefit to all. Something keeps calling me back to this approach whenever I stray, so I am going to knuckle down and focus, and seek the proficiency you have.

You have mentioned waiting for price to exceed the signal bar on the 1min chart. I was wondering do you do the same for the 5min before you officially call it a hl/lh etc, or do you call it at the close of the 5m candle, or something else? The question is when exactly in real time you say, that's a hl/hh etc.

Also with the 5min candle, do you require it to meet the macd/stoch parameters as you do for the 1min candle, yes?

Thanks alot for your advice.

Hi Ned


We are trading a few set ups at the moment. So this is a roundabout way of answering your question.

1. 5 min lh's/hl's. A hl/lh qualifies as soon as the candle is closed. See the attached. If we are trading this method we want the indis that we are using to agree. So at the moment the 5min stoch and nxMacd need to confirm. Price would need to go 1 pip beyond to confirm the trade. A hl/lh just needs the candle to close. There is a diff between a hl/lh close and the trade, pa must move on to confirm a trade off 5 min chart.
2. 1 min entry.
3. Frankies hour supp and res trade as per Islander
4. A limited number of vsa trades (my vsa skills are limited)

We are looking more and more at the 1 min chart for entry. What we want to do is get in on the first 5 min hl/lh of session. If we miss then we revert to 1 min entry to get in the move.

There are a couple of other set ups we will consider. A 1 min hesitation candle like in the System II (with irony) and what I will describe as Mrs V's failed lower channel breakout in uptrend and failed upper channel breakout in downtrend. The latter trades must show divergence. These are a work in progress, I'll show a chart but don't want to focus on this.

See 2 examples GU 1 min, GBP in strong uptrend from yesterday, it goes into channels, see stoch divergence after break lower, tl's drawn where price lower but stoch waves higher. 1 min signal generates with ema flat/slightly down.

Like I said this trade is a work in progress so mess with this at your own risk!!

I suppose the advice is find something (anything) that you can make work for you. Stick to it. If you find another method of trading that is a distinct set up (like Islanders Frankies hour trades) work on that.

There is nothing wrong with having a few different set ups that you trade, each one being a system that you can have some rules and to stick to. There is also nothing wrong having 1 system and sticking to that.

All the best.

We were concerntrating on gu this am.

First trade is a 1 candle hesitation, 2nd trade normal 1 min entry and 3rd trade was a losing trade.

Some ej trades. Just examples.

The first trade shown was a nice move.

The 2nd trade whilst valid signal had a failed double top before it, thats a set up we have seen a few times be careful with it.

The 3rd trade the ema is starting to fall away so take care. Can't see divergence. Sometimes these trades will work sometimes they'll fail. A 5 min hl followed shortly thereafter which confirmed a move up.