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The Force 5min system

  • #2,781
  • Dec 4, 2009 8:04am Dec 4, 2009 8:04am
Thanks Rufus, So much to learn and relearn. The devil is in the details. So just to be crystal clear, for a long entry, buy 1 pip above thr previous bars high or the previous bars close.
  • #2,782
  • Dec 4, 2009 8:11am Dec 4, 2009 8:11am
Quoting webmail4tom
Hi Rufus,
arenīt you using the Stoch and MACD at all and instead go with the ATR?

From time to time I bring up a 34 EMA which slides along very often nicely with price and act as SUP/RES.

But I am really having troubles looking at other stuff since the Force settings are very accurate if someone can read them properly which I have problems as well as soon as I think too much.
Hi Tom

The Stoch, MACD are imbeded in the templete. When the signal occurs the candle chages color and get a sound, so yes I use it. It works very well. The ATR you saw on my chart I use for setting a trailing stop once I get past 30 pips or more for a small amount I may leave on if I have to leave the computer for a while. I don't use any other indicators other then those originaly set up for this system. Take your time to learn it, you should not have to squint to see the signal.

Rufus
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  • #2,783
  • Dec 4, 2009 8:22am Dec 4, 2009 8:22am
Quoting Day Late
Thanks Rufus, So much to learn and relearn. The devil is in the details. So just to be crystal clear, for a long entry, buy 1 pip above thr previous bars high or the previous bars close.
Hi Day Late

Two examples here. My vertical line is on the signal bar. The next candle is my entry candle. I look for it to move 1 pip past the signal in the direction of the signal.

So one example here the entry candle did not get 1 pip past. The other it did, my signal.

Rufus
Attached Image(s) (click to enlarge)
Click to Enlarge Name: force example 1.gif Size: 22 KB
Click to Enlarge Name: force example 2.gif Size: 22 KB
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  • #2,784
  • Dec 4, 2009 8:34am Dec 4, 2009 8:34am
Quoting webmail4tom
Good morning,

I try to get a grasp of the "session switching" trade FJ mentioned. Looking at todays Asia opening would that be a valid signal?

Good trading
Tom
Technically that is a signal.

This week is my nemesis. With NFP and all the other news announcements I usualy don't do much past Tuesday. This week was mostly flat or to volatile when I was able to sit at my desk. For the record last 2 weeks in Dec. first one in Jan. are often slow. Last year durring this time the spreads even got wider for me.

Rufus
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  • #2,785
  • Dec 4, 2009 8:38am Dec 4, 2009 8:38am
Quoting webmail4tom
Here is the same first trade for the USDJPY as explained by FJ.

Hi Tom

FJ was very specific about the Force5 being used on the EURUSD only. I don't know why, but I too did some watching with a few other pairs and it was not as "sexy".

Rufus
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  • #2,786
  • Dec 4, 2009 8:55am Dec 4, 2009 8:55am
I remember he said in a chat one night that the reason he would only do 1 pair is that because he learned it so well. He could really get in the flow of charts and kinda feel what was coming. I remember a few others get that feeling after about 6 months of hard trading and they were progressing toward almost totally indicator free, except for trend lines.

Hey, the guy makes several hundred pips a week and made the calls live. So I listen!



Quoting Rufus
Hi Tom

FJ was very specific about the Force5 being used on the EURUSD only. I don't know why, but I too did some watching with a few other pairs and it was not as "sexy".

Rufus
A woman drove me to drink, and I forgot to thank her
  • #2,787
  • Dec 4, 2009 9:08am Dec 4, 2009 9:08am
Quoting simpleguy
I remember he said in a chat one night that the reason he would only do 1 pair is that because he learned it so well. He could really get in the flow of charts and kinda feel what was coming. I remember a few others get that feeling after about 6 months of hard trading and they were progressing toward almost totally indicator free, except for trend lines.

Hey, the guy makes several hundred pips a week and made the calls live. So I listen!
Thanks for the info.

I have gotten to the point I start to "twitch" when I look at another pair. I have 9 charts I look at, all EURUSD showing different time frames and S/R, all to get the "feal" for the next move. Once in a while I will try another pair and I usually get burned.

Rufus
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  • #2,788
  • Edited 10:53am Dec 4, 2009 10:26am | Edited 10:53am
Hi Rufus, Thanks for the chart examples that cleared that up. Another question maybe you can help shed some light on is how many bars back does stoch have to come out of overbought or oversold before the EMA cross to be a valid signal. I think that might be what webmail4tom is asking. Because sometimes it might be 8 bars or 40 minutes before the proper setup is met and if there is that much lag is it still considered a valid trade? Thanks for your help.
  • #2,789
  • Dec 4, 2009 2:03pm Dec 4, 2009 2:03pm
Quoting Day Late
Hi Rufus, Thanks for the chart examples that cleared that up. Another question maybe you can help shed some light on is how many bars back does stoch have to come out of overbought or oversold before the EMA cross to be a valid signal. I think that might be what webmail4tom is asking. Because sometimes it might be 8 bars or 40 minutes before the proper setup is met and if there is that much lag is it still considered a valid trade? Thanks for your help.
A lot of this is going to be a judgment call on your part. I don't recall FJ ever giving a set amount of time for all this to happen.

I can tell you what I do.

If you are looking at a great deal of time for all the citeria to line up, the market is probably moving to slow anyway.

Along with the rules I use for entry I also have set up rules for exits. The trend you are entering with has to be moving, and your trade should go quickly with it. If things are slow or just sideways a lot of time can elapse for a signal to develope.

With each of my F5 entries I give it 4 candles, including the one I enter on for it to reach 10 pips. If not I close the position. If you go back over the charts you will find that most good moves (not durring news times) will happen quickly. I am just trying to catch part of that move. Then staying out of the way if things start to turn sour against me.

Kind of a longwinded answer for a simple question I have no set answer for.

Rufus
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  • #2,790
  • Dec 4, 2009 3:13pm Dec 4, 2009 3:13pm
I actually use to do the same thing Rufus and I was told not to worry about it. then I just went beginning of every trading day and drew a UTL and LTL off the 15 zoomed out, found some of my S/R and then went to the 5 min and did everything from there.

for trading on such a small TF you get everything you need to know. You find the trend, pivots, s/r and your off. Once again, Jedi said to do it that way, so I do.

Simple

HAVE AN AWESOME WEEKEND PEOPLE!


Quoting Rufus
Thanks for the info.

I have gotten to the point I start to "twitch" when I look at another pair. I have 9 charts I look at, all EURUSD showing different time frames and S/R, all to get the "feal" for the next move. Once in a while I will try another pair and I usually get burned.

Rufus
A woman drove me to drink, and I forgot to thank her
  • #2,791
  • Dec 6, 2009 1:51pm Dec 6, 2009 1:51pm
Rufus,

Please see my chart below. The reason your trade didnt work was because of the resistance from the upper TL. When you have resistance like this its best to stay out of the trade or wait for a break and close above tht TL. So next time remember its not worht it unless theres no abosticles in the way. Its better to wish you were in a trade and not be then to be in a trade that you wish you were not in.

FJ

Quoting Rufus
Tried an entry here all looked well with daily pivot for added support. But as you can see got rejected by 200MA. I did get it closed out before it went to a loss.

Rufus

ps. with this being NFP week I have braced myself for some added volitility.
Attached Image (click to enlarge)
Click to Enlarge Name: force%205%20entry.gif Size: 24 KB
Stacking pips since 2002
  • #2,792
  • Dec 6, 2009 2:39pm Dec 6, 2009 2:39pm
Rufus is right! Its best to study 1 pair only and get to know its mood and attitude. At some point you will become very intuitive because you will begin to time and time again run across setups you seen many times before.

FJ

Quoting Rufus
Hi Tom

FJ was very specific about the Force5 being used on the EURUSD only. I don't know why, but I too did some watching with a few other pairs and it was not as "sexy".

Rufus
Stacking pips since 2002
  • #2,793
  • Dec 7, 2009 4:00am Dec 7, 2009 4:00am
Rufus, Again,thanks for any and all help. Your answer did help clarify things. I am still using the basic rules for considering making trades while learning to draw the trendlines and using the pivots. Which leads me to another question (imagine that) should I only take the trade setups that are going with the trend or should I take all trades, trend trades and counter trend trades (reversals) if the set up is correct? Day late.
  • #2,794
  • Dec 7, 2009 7:48am Dec 7, 2009 7:48am
Quoting Day Late
Rufus, Again,thanks for any and all help. Your answer did help clarify things. I am still using the basic rules for considering making trades while learning to draw the trendlines and using the pivots. Which leads me to another question (imagine that) should I only take the trade setups that are going with the trend or should I take all trades, trend trades and counter trend trades (reversals) if the set up is correct? Day late.
Good Morning (For me) Daylate

You most definitly don't take every signal. The attached chart is a good example. The vertical red line would have been a long but it was against the trend and to close to "00", etc.

Your #1 job as a trader is to protect your capital. Possibly the best rule FJ set up for this thread is risk no more than 1%. So if you have $1000 in your account, the most you can lose on a trade is $10.

Your next important job in my opinion is to protect the profit in a winning trade. FJ set it up to start taking profit at 10 pips.

I seldom let a losing trade hit 20 pips. Usually if it does get hit it is from a spike in price. To me that 20 pip sl is for equipment failure etc. A fail safe.

As for questions, I love them. This past month I have been setting up my trading plan (about 30 pages now) and one of the things I put in it is to reply more on F5. This not only helps me with my trading plan, it also makes me think as to why I am doing what I do. Helps me fine tune my trading as well. So thank you.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: force example 1.gif Size: 25 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,795
  • Dec 7, 2009 7:58am Dec 7, 2009 7:58am
Hi Daylate

If you want a good book.

Trading in the Zone. By Mark Douglas.

It is a bit expensive for such a little book. But it is the best I have read about getting your mind wraped around your trading. It is not about trading systems or anything like that. It is where your head should be for each trade. It is now my favorite book on trading.

Rufus
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  • #2,796
  • Dec 7, 2009 9:23am Dec 7, 2009 9:23am
Quoting forexjedi
Rufus,

Please see my chart below. The reason your trade didnt work was because of the resistance from the upper TL. When you have resistance like this its best to stay out of the trade or wait for a break and close above tht TL. So next time remember its not worht it unless theres no abosticles in the way. Its better to wish you were in a trade and not be then to be in a trade that you wish you were not in.

FJ
Thanks FJ

Your imput is always apreciated.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,797
  • Dec 7, 2009 6:29pm Dec 7, 2009 6:29pm
Hi all,

Good key points are indicatesd below. Also this chart is perfect for showing how a trend begins to switch from short to long. Show on the chart attached below you can see how the price found support and created a lower support level. The result for the rest of the day if you study your charts is a few bull runs and several test on the support level that were unsuccessfull. This is a good indication that the price may rise.

FJ



Quoting Rufus
Good Morning (For me) Daylate

You most definitly don't take every signal. The attached chart is a good example. The vertical red line would have been a long but it was against the trend and to close to "00", etc.

Your #1 job as a trader is to protect your capital. Possibly the best rule FJ set up for this thread is risk no more than 1%. So if you have $1000 in your account, the most you can lose on a trade is $10.

Your next important job in my opinion is to protect the profit in a winning trade. FJ set it up to start taking profit at 10...
Attached Image (click to enlarge)
Click to Enlarge Name: force%20example%201.gif Size: 26 KB
Stacking pips since 2002
  • #2,798
  • Dec 8, 2009 9:44am Dec 8, 2009 9:44am
Quoting BlueBird
Hi there,

i have seen few chart snaps where bar color is changed on certain conditions.
how do we change bar color on crossup/down or any other condition?

appreciate help

BB

need help on changing bar color

thanks
  • #2,799
  • Dec 8, 2009 10:22am Dec 8, 2009 10:22am
Quoting BlueBird
need help on changing bar color

thanks
Here you go

Rufus

MT4 format
Attached File(s)
File Type: mq4 AudioAlerts.mq4   19 KB | 643 downloads
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  • #2,800
  • Dec 8, 2009 11:57am Dec 8, 2009 11:57am
Hi All.

Your imput would be great.

I stated in a previous post that I am working on a highly detailed trading plan. This plan will be put to use starting in 2010. Right now I am working on F5 entries.

This is my 15m chart for the start of my trading session with my trend lines drawn in. From Price action in the past I have decided that I will only be a seller. I will also sell when I get a sell signal within 20 pips of the upper trendline with no resistance within 20 pips bellow.

Trade day starts at 0:00 GMT

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: force example 1.gif Size: 25 KB
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