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5Min Intraday System

  • #6,761
  • Jun 28, 2009 8:21pm Jun 28, 2009 8:21pm
Quoting Golfer
Hi P

Yes, it is not nice picture to see when the profits are getting less and less. It all depends on where and when it is taking place. If it is a long trade and it is near previous resistance area, I'll exit while price is retracing. I'll also exit if I am in the trade for a long time allready and the price is struggling to move up. Then I know the momentum is loss.

If the retracement is close to previous support, I'll stay in the trade to make sure it is not just a normal retracement before moving up again. So it will all depend on the price...
Thanks Golfer: That what a great answer simple but effective.

pete
  • #6,762
  • Jun 28, 2009 8:23pm Jun 28, 2009 8:23pm
Quoting bshadroo
yes, as u see there are at least 4 possible entries before but unfortunetly i was offline on that time ,so i could only take the last one
Thanks for your answer

pete
  • #6,763
  • Jun 29, 2009 8:13am Jun 29, 2009 8:13am
Quoting pete.alfa
Thanks Golfer: That what a great answer simple but effective.

pete
Hi Pete

A practical example as always - I trade I took this morning. A nice move after my entry for about 15pips. My aim was for about 25 tot 30pips profit. then the price starting to move up again.

Exit or not????

I did exit after that black line was broken for about 6pips profit. i hope it makes sense.

Note - please ignore the other indicator (some of you will recognise it). Like I said, I am combining some systems now and I am just/still using this system's principles.
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Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,764
  • Jun 29, 2009 8:39am Jun 29, 2009 8:39am
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  • #6,765
  • Jun 29, 2009 11:07am Jun 29, 2009 11:07am
Quoting Golfer
Hi Pete

A practical example as always - I trade I took this morning. A nice move after my entry for about 15pips. My aim was for about 25 tot 30pips profit. then the price starting to move up again.

Exit or not????

I did exit after that black line was broken for about 6pips profit. i hope it makes sense.

Note - please ignore the other indicator (some of you will recognise it). Like I said, I am combining some systems now and I am just/still using this system's principles.
Hi,Golfer
If black line is ur TP and dotted line is ur entry, where is ur SL? It looks R/R is not good in this trade?
Nice to see u again!
  • #6,766
  • Jun 29, 2009 1:36pm Jun 29, 2009 1:36pm
Quoting yuyudada
Hi,Golfer
If black line is ur TP and dotted line is ur entry, where is ur SL? It looks R/R is not good in this trade?
Nice to see u again!
Hi Y

Yes, my entry is where you see "Sell" in the left hand side of the chart. My TP is down at the very bottom of my chart (not the solid black line) and my SL is in the channel above the high of the sister. That is why the entry near the channel was much better.

Better R:R?
Willem Forex recipe for success = Patience, discipline & hard work.
  • #6,767
  • Jun 30, 2009 3:58am Jun 30, 2009 3:58am
I have been having a good run with the system the last few days. I entered here off the pullback and then the break of the pivot. As it turned out I was early but held on and took 15 pips.
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  • #6,768
  • Jul 1, 2009 10:45pm Jul 1, 2009 10:45pm
made me 17pips
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  • #6,769
  • Jul 2, 2009 2:09pm Jul 2, 2009 2:09pm
+15 pips
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  • #6,770
  • Jul 6, 2009 5:08am Jul 6, 2009 5:08am
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  • #6,771
  • Jul 6, 2009 6:05am Jul 6, 2009 6:05am
Quoting bshadroo
.
i took the same trade but diceded to close with +5 pips
  • #6,772
  • Jul 6, 2009 6:38am Jul 6, 2009 6:38am
Quoting 4newbie
i took the same trade but diceded to close with +5 pips
it was not a bad deceision because the candles after the signal candle were not good ,but if u look it with 1min TF u'll see how price pulled back to broken TL and then went away to down side
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  • #6,773
  • Jul 6, 2009 10:31am Jul 6, 2009 10:31am
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  • #6,774
  • Jul 6, 2009 1:09pm Jul 6, 2009 1:09pm
bshadroo do you always trade with 30pips tp?
  • #6,775
  • Jul 6, 2009 1:44pm Jul 6, 2009 1:44pm
I love it when my 1st trade of a new strategy is a positive one
I hope I can get many positive trades like this one.
I also got 4 pips on GU.
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  • #6,776
  • Jul 7, 2009 6:09am Jul 7, 2009 6:09am
Quoting MyaNyx
bshadroo do you always trade with 30pips tp?
no,its depend on how far is the first target and the pair wich i trade(30pips for gu is not a big deal) ,but i always go to BE after 10pips
  • #6,777
  • Jul 7, 2009 10:53am Jul 7, 2009 10:53am
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edit:other half closed +20pips
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  • #6,778
  • Jul 7, 2009 11:53am Jul 7, 2009 11:53am
my target for other half missed by 7pips
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  • #6,779
  • Jul 7, 2009 1:25pm Jul 7, 2009 1:25pm
Quoting bshadroo
.
edit:other half closed +20pips
I took also this trade .

1. TL - break down
2. SMA - below -0.1 and good angle
3. TC on MACD

Why do you think that this was a risky trade?
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  • #6,780
  • Jul 8, 2009 5:18am Jul 8, 2009 5:18am
Quoting ARtuRO
I took also this trade .

1. TL - break down
2. SMA - below -0.1 and good angle
3. TC on MACD

Why do you think that this was a risky trade?
just i dont like the activities above 21ema
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