Mrs V's fave 1 min entry | Page 9 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Scripts for Limit entry, Stop entry, Market entry 47 replies

FXCM - No Entry Orders before the... 43 replies

short on eur/us..my entry order got blown by 11 replies

15 min indicator on 5 min chart 3 replies

Attachments: Mrs V's fave 1 min entry
Exit Attachments

Mrs V's fave 1 min entry

  • #161
  • May 27, 2009 6:46am May 27, 2009 6:46am
Quoting stevewide
just to show how easy this method is I'm posting my trade when I started today; at 5:50am EDT Gu made a new closed candle 5m higher low with 1h candle above 20ema.

1m 5sma crossed, 34ema sloped up, green candle, traffic light full long signal, volume green.

My only hesitation was the run had already moved alot during London session having 3 green 1h candles in a row...a reversal should be coming soon but no 1h reversal candle pattern seen as yet. I didn't see any divergence against the trade and rsi continued to rise and was not in oberbought...
Glad you're enjoying, keep those posts and pips coming, well done.
  • #162
  • May 28, 2009 2:09am May 28, 2009 2:09am
EJ was on a tear in asian session and showed no sign of letting up. 5 min chart shows break out of channel in direction of recent move. 1 min shows numerous opportunities to enter after the breakout, we took 2. Exited ultimately at dotted yellow and blue lines which are 38% ext of y's range and D R 2 when it failed there.

Will look to get in again if even number/M M3 (at 133.93) holds.

Cheers

PS we don't like trading breakouts, too many fail for our liking, but trade the moves after the break.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej 5 min.gif Size: 16 KB
Click to Enlarge Name: ej 1 min.gif Size: 23 KB
  • #163
  • May 28, 2009 2:23am May 28, 2009 2:23am
Sometimes you just get lucky, was just about to re-enter ej and in that split second it came rushing down. It would have been pushing it perhaps as all 5 min indi's were indicating down.

I suppose the lesson there is don't pre-judge any trade.

Royston I've just done a check traffic lights v2 (which we have on 5 min) didn't show a red/sell and v3 does. Not sure if we were looking at indi's or traffic lights but all 3 indis clearly showing down.
Attached Image (click to enlarge)
Click to Enlarge Name: ej 5 min 3.gif Size: 18 KB
  • #164
  • May 28, 2009 2:51am May 28, 2009 2:51am
In view of the above traffic lights v2 problem I've added v3 to my 5 min chart set to show all signals. On the 1 min chart I have the only 34 option.

The first post has been altered to show the latest templates I'm using and I also took the chance to add the FX5 MACD divergence indi which I also like on 5 min.
  • #165
  • May 28, 2009 3:08am May 28, 2009 3:08am
Just when I think it's time to trade naked..... I take a look at Mrs V's thread and back they go onto my charts. Actually, Mr V, I continue to enjoy and value your posts : I am researching longer timeframes - 60, 240 and Daily - and my slight rehash of Mrs V's template for Tradestation looks good on the 60 min (I have recently started looking at the QQE indicator, having discovered it's a smoothed RSI; RSI being my fave indi).
Attached Image (click to enlarge)
Click to Enlarge Name: 60 min Mrs V + QQE.jpg Size: 110 KB
  • #166
  • May 28, 2009 3:09am May 28, 2009 3:09am
V - I took just one entry on EJ on that run up and exited with +21. Out way too early, but that's one thing I am good at (unfortunately) Great exit for you guys.
  • #167
  • May 28, 2009 4:13am May 28, 2009 4:13am
Quoting jtrade
Just when I think it's time to trade naked..... I take a look at Mrs V's thread and back they go onto my charts. Actually, Mr V, I continue to enjoy and value your posts : I am researching longer timeframes - 60, 240 and Daily - and my slight rehash of Mrs V's template for Tradestation looks good on the 60 min (I have recently started looking at the QQE indicator, having discovered it's a smoothed RSI; RSI being my fave indi).
Whilst I pretty much have all same indi's on all timeframes I pay less and less attention to them on longer time frames. If they all line up and agree fine but on longer term timeframes I'm more concerned with candles and weekly/monthly pivots.

I feel thats where the big boys will ultimately push to.

Yes I'd love to move away from scalping to longer term trades, or at least get a better balance between the two.
  • #168
  • Edited 4:38am May 28, 2009 4:21am | Edited 4:38am
Quoting orientos
V - I took just one entry on EJ on that run up and exited with +21. Out way too early, but that's one thing I am good at (unfortunately) Great exit for you guys.
Nice one, pls feel free to post charts.

I'm finding that the fib extensions on previous days range (can be calculated automatically from the pivot indi I use) work extremely well and after the length of run with a daily pivot at same level was a good place to exit.
  • #169
  • May 28, 2009 4:30am May 28, 2009 4:30am
I also have 21, 50, 100 and 200 ema's on daily chart. I recall hearing that some time ago the 200 day ema was voted by institutional traders as their number 1 indi.

Slowly but surely eu, ej and gu ema's are all turning around. Each have had several distinct higher lows that for some time now for me confirm the turn in trend to weaker $.
  • #170
  • May 28, 2009 4:33am May 28, 2009 4:33am
Some daily charts. Gu and eu hovering around monthly pivots and ej approaching a weekly pivot at a previous res point. I took off mid pivots for these screenshots otherwise it looks a bit crowded, they go back on.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej daily.gif Size: 23 KB
Click to Enlarge Name: eu daily.gif Size: 22 KB
Click to Enlarge Name: gu daily.gif Size: 21 KB
  • #171
  • May 28, 2009 4:37am May 28, 2009 4:37am
Quoting Vantage
Royston I've just done a check traffic lights v2 (which we have on 5 min) didn't show a red/sell and v3 does. Not sure if we were looking at indi's or traffic lights but all 3 indis clearly showing down.

Morning Mr V...

Quick summary:

ver 01 - quick and dirty showing all signals
ver 02 - built in filter of Close > 5 ema + shift (see post 83 May 19th)
ver 03 - filters made adjustable, emas still fixed
ver 04 - filters and emas all adjustable

So the 5 min EJ image shows a situation where price does not meet the 5 ema filter.

I had a good EJ long this morning, and then got spanked on cable. Your ideas have made a great trigger, but I have to be careful not to get trigger happy, so to speak.

Also miffed because I missed 2 trades on EU and GU because I wasn't watching keenly enough. The trouble with 1 min is that you blink and then miss it, lol. I am thinking about what to do about it. Maybe cut down to 2 charts, 3 is a handful.
  • #172
  • May 28, 2009 4:49am May 28, 2009 4:49am
Quoting Royston
Morning Mr V...

Quick summary:

ver 01 - quick and dirty showing all signals
ver 02 - built in filter of Close > 5 ema + shift (see post 83 May 19th)
ver 03 - filters made adjustable, emas still fixed
ver 04 - filters and emas all adjustable

So the 5 min EJ image shows a situation where price does not meet the 5 ema filter.

I had a good EJ long this morning, and then got spanked on cable. Your ideas have made a great trigger, but I have to be careful not to get trigger happy, so to speak.

Also miffed because I missed 2 trades on EU and...
Thanks for clarifying the various versions.

Was your gu trade per system? Put up a chart if you like, whilst hindsight is perfect I usually find a critical look at losing trades helps a lot more than looking at winners.

Whilst I have 1hr, 5 and 1 min up on 4 screens for the 3 currencies we tend to focus in one 1. So the only thing I can suggest is focus on 5 min after looking at daily and 1 hr, when you think you have 1 good set up on 5 min chart only then put 1 min up for entry. Hope that'll help.
  • #173
  • May 28, 2009 5:52am May 28, 2009 5:52am
Mrs V's in bed flu-ish so we're only going on holiday on Sunday.
  • #174
  • May 28, 2009 6:08am May 28, 2009 6:08am
Quoting orientos
V - I took just one entry on EJ on that run up and exited with +21. Out way too early, but that's one thing I am good at (unfortunately) Great exit for you guys.
HELLO EVERYONE,
Im posting for the first time on this trade,i have been following this trade with keen interest because i believe it is helping me sort out a new system i bought that uses similar logic with this and im grateful to mr and mrs V.
Attached Image (click to enlarge)
Click to Enlarge Name: mrs v.gif Size: 25 KB
here is an attachment of a scrren shot of a trade on GU i just took on fxcm platform made 20 pips just want to be sure i got all conditions right and what do i need to do to find better entries,secondly i figure there will be problem with re-entry what is the standard TP for this system or can someone work out an indicator that can help in TP please,sorry i am a newbie in this business forgive my ignorance but will be ready for any useful information please.thanks.
  • #175
  • May 28, 2009 6:31am May 28, 2009 6:31am
Quoting taju12
HELLO EVERYONE,
Im posting for the first time on this trade,i have been following this trade with keen interest because i believe it is helping me sort out a new system i bought that uses similar logic with this and im grateful to mr and mrs V.Attachment here is an attachment of a scrren shot of a trade on GU i just took on fxcm platform made 20 pips just want to be sure i got all conditions right and what do i need to do to find better entries,secondly i figure there will be problem with re-entry what is the standard TP for this system...
Strictly speaking if you got in on the candle you highlighted that wasn't a trade as the 34 ema was flat/down.

I've shown what I would regard as the set up candle on the 5 min chart, prior to that price was drifting down with support around 1.5912 but it could have gone either way.

The 1 min chart full red line shows the close of 5 min candle and small red line and arrow shows the entry candle.

You can use this method to enter from key support/resistance areas which is what your trade was, well done.

To be honest I'm not entirely sure what you mean by find better entries, by following higher lows/lower highs you'll get many great entries every day. You can of course buy and sell levels on a chart like Jacko's forex house of pleasure and pain, that system relies on very good trading analysis, strong trends and big stops.

To exit I target pivots and other key levels to bank pips and then look for re-entries. I hate the idea of being a 1 pip wonder, you know I was 50 pips up but hey it came back and I got out with 1 pip. Against that there are guys getting much more pips than I do by holding on.

If anyone has a good setting for chandelier stops on 5 min chart I'd be all ears.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu 5 min 2.gif Size: 19 KB
Click to Enlarge Name: gu 1 min 2.gif Size: 19 KB
  • #176
  • May 28, 2009 6:44am May 28, 2009 6:44am
Quoting Vantage
I took off mid pivots for these screenshots otherwise it looks a bit crowded, they go back on.
Someone recommended this once in the Force5 chat room. It is a script called Trading Naked. Download it into your Scripts folder, not your indicators folder. Then Assign it a hot key, say CTRL + K (right click when in the Navigator > Set hotkey). When you press the hot key combination, it temporarily hides Objects that have been drawn on the chart. Press again, and the lines come back. Very useful for indicators that are drawn automatically on your chart.
Attached File(s)
File Type: ex4 Trade Naked.ex4   2 KB | 239 downloads
  • #177
  • May 28, 2009 6:48am May 28, 2009 6:48am
Do you typically trade against the 1h price below the 20ema? I see where it formed a nice 1h hammer suggesting a long 4 hours ago; next it formed an indecision doji; then it took off long.

Appreciate any discussion you can provide to analyse the 1h chart. It prevented me from taking the long but I see its merits after your last post.

Thanks in advance.

Steve
  • #178
  • May 28, 2009 9:56am May 28, 2009 9:56am
Quoting Royston
Someone recommended this once in the Force5 chat room. It is a script called Trading Naked. Download it into your Scripts folder, not your indicators folder. Then Assign it a hot key, say CTRL + K (right click when in the Navigator > Set hotkey). When you press the hot key combination, it temporarily hides Objects that have been drawn on the chart. Press again, and the lines come back. Very useful for indicators that are drawn automatically on your chart.
  • #179
  • May 28, 2009 10:09am May 28, 2009 10:09am
Quoting stevewide
Do you typically trade against the 1h price below the 20ema? I see where it formed a nice 1h hammer suggesting a long 4 hours ago; next it formed an indecision doji; then it took off long.

Appreciate any discussion you can provide to analyse the 1h chart. It prevented me from taking the long but I see its merits after your last post.

Thanks in advance.

Steve
I'd like to trade in direction of 1hr so if below 20ema would prefer to be selling and above 20 ema buying. Very nice runs follow as you've no doubt seen.

However any decent 1 hr reversal candle will almost certainly give a good 5 min pattern (lh/hl, dble top/bottom etc) to trade from. This is the main reason why I don't trade 1 candle patterns on 5 min. For a reversal I'm looking for the hl's/lh's as they have high probability of success.

If you agree with the concept that a hl/lh has a high % chance of success then trading this 1 min system is giving market chance to have that last little shake out after the 5 min hl/lh.

So basically I look to trade in direction of 1hr until you have good reason not to. A 1hr hammer would be a good reason.
  • #180
  • May 28, 2009 11:26am May 28, 2009 11:26am
I've received a few messages on how do I decide which currrency to trade. If you have a nice 1 hr candle and 5 min hl/lh. All I can think is really which looks better?

On these ej is a complete mess, ema is all over the place. Gu is looking good with nice ema angled down. Eu also looked really clean.

So it would be a pick between gu and eu and cross fingers you choose the right one.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej.gif Size: 18 KB
Click to Enlarge Name: gu.gif Size: 18 KB
Click to Enlarge Name: eu.gif Size: 17 KB
0 traders viewing now