My 5 Min Trading Learning Process & Thoughts | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

ECN && STP && Scalping && Hedging - Broker Review - Oct 2009 24 replies

Learning at the speed of snail [Newbie Learning Journal] 9 replies

Timeframes and the learning process 19 replies

Just an observation & learning process 5 replies

15 min indicator on 5 min chart 3 replies

Attachments: My 5 Min Trading Learning Process & Thoughts
Exit Attachments

My 5 Min Trading Learning Process & Thoughts

  • #21
  • Mar 28, 2010 7:28am Mar 28, 2010 7:28am
Quoting supremeChaos
i believe Oanda (oanda users can correct me) has the min/max chart wherein u can spot a change in spread right away. this might be helpful in news times.
you can do this with mt4 my man just display ask and bid line
  • #22
  • Mar 28, 2010 8:18am Mar 28, 2010 8:18am
Quoting lovejoy80
I don't use an indicator, I plot them manually as I go through the day. I use the 'trendline' button but if you right click on line then untick 'ray' in properties from there on whenever you draw the line it doesnt go across your whole chart just as far as you want it - hope that makes sense, if not let me know and I'll take some screenshots.

Hi again

MT4?

I don't have the "ray" option.

Thanks again

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #23
  • Mar 28, 2010 8:19am Mar 28, 2010 8:19am
Double click the trendline then right click and go to properties bro
  • #24
  • Mar 28, 2010 8:25am Mar 28, 2010 8:25am
Quoting Sim
Double click the trendline then right click and go to properties bro
I tried that.

It gives me "name", "description" and "style" none have a ray option
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #25
  • Mar 28, 2010 8:33am Mar 28, 2010 8:33am
Quoting Rufus
I tried that.

It gives me "name", "description" and "style" none have a ray option
There is a tick box under the parameters tab that says "Ray"
  • #26
  • Mar 28, 2010 8:37am Mar 28, 2010 8:37am
Quoting luckylady
There is a tick box under the parameters tab that says "Ray"

Sorry I only show "value"

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #27
  • Mar 28, 2010 8:42am Mar 28, 2010 8:42am
Quoting Rufus
Sorry I only show "value"

Rufus

I GOT IT !!!!!!!!!

I have been trying to do it with the horizontal lines. If I had read and comprehended the very first post where it says "trend lines" this problem would not have come up. Many thanks to all. If you are ever in the puget sound area of Washington state I owe you a beer. Koolaid if under 21.



Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #28
  • Mar 28, 2010 8:57am Mar 28, 2010 8:57am
koolaid hahaaaa!
Inserted Video
  • #29
  • Mar 28, 2010 2:49pm Mar 28, 2010 2:49pm
Right, well I've marked up my EU chart with round numbers (anything ending in 50 or 00), RSI for divergence and plotted the higher time frame PPZ's that I have on my higher frame chart - also plotted 50 and 61 fibs from last obvious retracement.

I'd like to put some floor trade pivots on my charts too - I won't use them for trading for now, I'll just monitor throughout the week to see their affect. They only pivot indicator I have uses the same pivot S1 S2 etc for each day so I presume it is a weekly pivot indicator - does anyone have a daily pivot indicator they could share or point me to one?

Thanks
  • #30
  • Mar 28, 2010 7:12pm Mar 28, 2010 7:12pm
Quoting lovejoy80
Right, well I've marked up my EU chart with round numbers (anything ending in 50 or 00), RSI for divergence and plotted the higher time frame PPZ's that I have on my higher frame chart - also plotted 50 and 61 fibs from last obvious retracement.

I'd like to put some floor trade pivots on my charts too - I won't use them for trading for now, I'll just monitor throughout the week to see their affect. They only pivot indicator I have uses the same pivot S1 S2 etc for each day so I presume it is a weekly pivot indicator - does anyone have a daily...

This one is my favorite. It will calculate weekly and monthly pivots as well.

Rufus
Attached File(s)
File Type: ex4 ###Auto Pivot.ex4   15 KB | 284 downloads
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #31
  • Mar 28, 2010 8:05pm Mar 28, 2010 8:05pm
Quoting Sim
you can do this with mt4 my man just display ask and bid line
yes Sir. aware of that, but forgot to mention it on that post
Thanks
  • #32
  • Mar 29, 2010 2:50am Mar 29, 2010 2:50am
Quoting Rufus
Hi Lovejoy80

What indicator do you use to draw the short colored lines for new highs and lows?

I have been drawing full length lines and it gets a bit confusing. The short line segments would be the ticket.

Thanks a lot for the informative posting. The things you are doing fit nicely in to what I have been working on this year. Looking forward to learning more tools for my Fx tool box.

Rufus
You could also try this indy---it takes some of the work away
Attached File(s)
File Type: mq4 Fractal Support and Resistance.mq4   2 KB | 371 downloads
We are all One. Be present. Be the Observer
  • #33
  • Mar 29, 2010 2:59am Mar 29, 2010 2:59am
Been a late start today - decided to start later in the day as there are lots of thingsd I need to do in the morning before I can sit and concentrate solely on focussing on the 5min EU timeframe.

I've got 19 other trades on the go on longer time frames and with the USD weakness this morning there have been plenty of opportunities to add to them so have been managing my other trades up until now.

Here is my chart of and latest setup off EU 5min with TL's, PPZ, fibs pivots and RSI added.

I missed the first trade of the day - break above the peak that was formed - a strong uptrend so just ride it
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 17 KB
  • #34
  • Mar 29, 2010 3:03am Mar 29, 2010 3:03am
Quoting lovejoy80
Been a late start today - decided to start later in the day as there are lots of thingsd I need to do in the morning before I can sit and concentrate solely on focussing on the 5min EU timeframe.

I've got 19 other trades on the go on longer time frames and with the USD weakness this morning there have been plenty of opportunities to add to them so have been managing my other trades up until now.

Here is my chart of and latest setup off EU 5min with TL's, PPZ, fibs pivots and RSI added.

I missed the first trade of the day - break above the peak...
19? Where's the pickiness James is talking about?
  • #35
  • Edited 3:26am Mar 29, 2010 3:18am | Edited 3:26am
Quoting neutro
19? Where's the pickiness James is talking about?
Actually its 23 trades! I have mutliple GU and EU shorts - 11 EU shorts starting @ 1.5030 so just doing some short covering. There are also some decent daily and weekly trade setups from last night which I had to watch to get filled, including:

I4B on AUD/CAD, I4B on N/U, E/J pending inverse H&S break, Eur/AUD weekly Pn, Eur / CAD weekly PB, SGD, JPY weekly BEOB (continuation)

I dont just trade J16 style I have multiple trading methods which make up my overal style...see the list of threads on page 1, there are different styles in each of them. My EU shorts are based on basic trend trading on pullbacks to resistance combined with some J16 (i.e. price action) added in too at times.

This is my main trading method - trend trading adding into positions (on daily), second is J16 style on 4H, daily and weekly and third is more aggressive PPZ trending (Rac style).
  • #36
  • Mar 29, 2010 4:18am Mar 29, 2010 4:18am
Quoting Iamfx
You could also try this indy---it takes some of the work away
Thanks , just put it on my chart and it looks good, tally's in with all my peaks and valleys thus far today. Have no idea what a fractal is but it works so I'm happy with it. Cheers
  • #37
  • Mar 29, 2010 5:36am Mar 29, 2010 5:36am
Apart from the initial trend this morning (the day I start two hours late I miss the trend as it started at my normal time off 8am lol) for which I caught the final leg up and duly got stopped out (there were 5 peaks before that) - perhaps should have left it as was nearing BRN...the market has been quite choppy with a series of LH and HL, thus I'm on the sidelines waiting for a trend to develop or some PA at a swing.
Attached Image (click to enlarge)
Click to Enlarge Name: Eu_5min_-_intraday_market_analysis_update_-_29-03-2010.png Size: 140 KB
  • #38
  • Mar 29, 2010 6:30am Mar 29, 2010 6:30am
Quoting neutro
19? Where's the pickiness James is talking about?
Hey neutro,
this is lower TF trading.... pickiness can come in numbers
  • #39
  • Mar 29, 2010 6:53am Mar 29, 2010 6:53am
Good to see you have a journal.

Good Luck LJ.
.
  • #40
  • Mar 29, 2010 8:24am Mar 29, 2010 8:24am
Lovejoy, a correction is in place if I'm not mistaking, please.

The hours of trading, aren't they 8am to 7pm GMT+2? I think the broker you're on is on GMT+2, using PST closing time. (12am GMT+2 is 5pm PST).
1 trader viewing now