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Trend Follower 5 Minute System

  • #3,421
  • Apr 21, 2010 4:40pm Apr 21, 2010 4:40pm
will it go ? :|
Attached Image (click to enlarge)
Click to Enlarge Name: Capture-1567207: MetaTrader - Alpari UK - Compte Démo - [GBPUSD,M5].png Size: 107 KB
if you win you can share if you loose you can try to sell your shit.
  • #3,422
  • Apr 21, 2010 10:00pm Apr 21, 2010 10:00pm
Quoting kikoolol
will it go ? :|
For me, I don't want to take a risk of something like this. Just be patient, look for the STRONG signal only.

Thanks.
- pedma -
Good friends are more valuable than gold ...
  • #3,423
  • Apr 22, 2010 3:10am Apr 22, 2010 3:10am
Quoting jerrydeng
So if you want to find good signal you can not just wait for signal, you need to analyze higher time frame to find significant support and resistance, you need to determine trend, use some fib. that you had said. so can you tell me, according to the 5TF system, we analyze which timeframe to find s and r?
Look at J16 thread.
One Chart is Worth Ten Thousand Words.
  • #3,424
  • Apr 22, 2010 5:15am Apr 22, 2010 5:15am
happy end finally

the higher TF were not so bad and all conditions were there to make a good trade.

it was just a very slow one, lol
if you win you can share if you loose you can try to sell your shit.
  • #3,425
  • Apr 22, 2010 9:35am Apr 22, 2010 9:35am
Quoting mic7000
Hi Pilatus,

Please can you/someone explain why this trade failed.

There is a perfect bounce of this resistance line.

Thank You
I will answer with pleasure. Who said that we had perfect bounce from resistance line? If you think that pivots/fibbonacci levels are real support and ressistance levels you are completely wrong. Price went through that level before like through cheese. So why do you think that this blue line will hold now? Learn a little about suport and resistance levels. But in short sentences, resitance is where sellers beat the battle with buyers and this level hold and this is level where in near history price could not breach and close above or it was a little spike above but immediatelly price go back bellow that level. So, that is very risky trade.50:50
  • #3,426
  • Apr 22, 2010 3:44pm Apr 22, 2010 3:44pm
This EURJPY setup was alone good today. What do you think about this?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.JPG Size: 166 KB
  • #3,427
  • Apr 22, 2010 4:45pm Apr 22, 2010 4:45pm
it looks good i saw it in live but it was too scary to take it (too much news for me today)
if you win you can share if you loose you can try to sell your shit.
  • #3,428
  • Edited 7:45am Apr 23, 2010 7:31am | Edited 7:45am
second one failed (rainbow is probably too much expanded)
third one worked against the trade (i didn't take it...)
fourth one looks good but failed (i didn't take it because of the trend on higher TF)

it seems that even when all conditions are met we need to look at other TF, news and many other things for confirmation thus there is really just few good signals...

[EDIT]i posted the wrong chart forget about the first red line
Attached Image (click to enlarge)
Click to Enlarge Name: Capture-1567207: MetaTrader - Alpari UK - Compte Démo - [EURUSD,M5].png Size: 76 KB
if you win you can share if you loose you can try to sell your shit.
  • #3,429
  • Apr 23, 2010 10:44pm Apr 23, 2010 10:44pm
kikoolol, the reason the price fail to move up because:
- Slope direction line pointing down.
- Price is below Slope direction line.
- Price just touched the resistance line (blue line; W_S2)
- Price is very near to Daily Pivot.
- Price movement is loosing stim as the previous peak react as strong resistance.

Recommendation: Next entry, just look at Slope direction line and of course should follow Wicker's entry rule.
  • #3,430
  • Apr 24, 2010 5:29am Apr 24, 2010 5:29am
Quoting kikoolol
second one failed (rainbow is probably too much expanded)
third one worked against the trade (i didn't take it...)
fourth one looks good but failed (i didn't take it because of the trend on higher TF)

it seems that even when all conditions are met we need to look at other TF, news and many other things for confirmation thus there is really just few good signals...

[EDIT]i posted the wrong chart forget about the first red line
There are sveral reasons why this trade was risky one.
First always look on position of daily, weekly, and monthly pivots, if price is bellow all we can look for short, and vice versa. If price is above daily we can have small retrace but if in this case weekly is bellow monthly pivots our trend is short, same for long conditions.
Second always look for price movement before signal. This is trendfollower system and you need to have trend to have good signals. The characteristic of trend is when we have price moving like on stairs, look my chart.
Next it doesn't matter if price is bellow or above slope line, if trading would be so easy everyone would make money so easy, which is not the case. DO not look to much on indicators rather look for price movements and price action.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 71 KB
  • #3,431
  • Apr 27, 2010 5:59am Apr 27, 2010 5:59am
http://i44.tinypic.com/5znokj.jpg

Good trade this morning. Just follow the rule.
  • #3,432
  • Apr 27, 2010 3:19pm Apr 27, 2010 3:19pm
Quoting pilatus
There are sveral reasons why this trade was risky one.
First always look on position of daily, weekly, and monthly pivots, if price is bellow all we can look for short, and vice versa. If price is above daily we can have small retrace but if in this case weekly is bellow monthly pivots our trend is short, same for long conditions.
Second always look for price movement before signal. This is trendfollower system and you need to have trend to have good signals. The characteristic of trend is when we have price moving like on stairs, look my chart.
Next...
Dear Pilatus! Your writings instructive always, thanks for them! I am not a full-time trader, because I have job (and family with two little children :-) ). I miss the good entryes many times. I would like to ask you: after the analysis of bigger time frames (h1, h4), you step onto the market only the signals of the trendfollower+snapshot EA(e-mail+sms)?
(I am Hungarian, excuse me if I did not write something well in English.)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: g.JPG Size: 160 KB
Click to Enlarge Name: ej1.JPG Size: 145 KB
  • #3,433
  • Apr 27, 2010 7:42pm Apr 27, 2010 7:42pm
Hello, All--

Could someone clarify what the following two parameters are in the SignalTrendFollower ver 1.2 EA?

EntryTimeHour
ExitTimeHour

Thank you!
Dennis
  • #3,434
  • May 3, 2010 6:04am May 3, 2010 6:04am
http://i40.tinypic.com/fxgd46.gif


A very easy 30 pips this morning. Just follow the basic rule.

No sweat.
  • #3,435
  • Edited 6:56am May 3, 2010 6:49am | Edited 6:56am
Hello there

did any one tried the last ea posted with results and worked with him ?

I attached it to the 5 min chart for several currency since market open and no entries done

do I need to load the template too or just place the indicators in the indicator folder?
  • #3,436
  • May 3, 2010 3:20pm May 3, 2010 3:20pm
Quoting erap
http://i40.tinypic.com/fxgd46.gif


A very easy 30 pips this morning. Just follow the basic rule.

No sweat.
I see it so, it was possible to catch at most 15 pips if you entered after the signal (3229-3213-spread), but this is a risky trade.
  • #3,437
  • May 3, 2010 3:48pm May 3, 2010 3:48pm
Quoting gyusz2
Dear Pilatus! Your writings instructive always, thanks for them! I am not a full-time trader, because I have job (and family with two little children :-) ). I miss the good entryes many times. I would like to ask you: after the analysis of bigger time frames (h1, h4), you step onto the market only the signals of the trendfollower+snapshot EA(e-mail+sms)?
(I am Hungarian, excuse me if I did not write something well in English.)
yes buddy, only on ea signals. I undesrstand you good, besides, I am your neighbour-Croatian!)))
All of your signals are good, just need patience. I suggest you to add slope direction line because it can help you with exits.
  • #3,438
  • May 4, 2010 3:56pm May 4, 2010 3:56pm
Quoting pilatus
yes buddy, only on ea signals. I undesrstand you good, besides, I am your neighbour-Croatian!)))
All of your signals are good, just need patience. I suggest you to add slope direction line because it can help you with exits.

good thread. just subscribing.
  • #3,439
  • May 5, 2010 2:50pm May 5, 2010 2:50pm
It appears to me that many good trades are filtered out by the RSI not being in the right place (hooking from a high or low extreme). Has anyone tried trading this method without the RSI or using another indicator instead?

Regards,
Dennis
  • #3,440
  • May 7, 2010 7:51am May 7, 2010 7:51am
Quoting TheWicker
I have been a forex trader since more years. From time to time I still trade, but my trading times have increasingly droped since I feel its more and more boring waiting for the market to give you a proper signal all day. The main reason why I am writting this article is because I do not like to sit behind my desk all day. So I have deiceided to give it to all of you who want to benefit from it. Price for my system was three hundred dollars, but due the relativity of success in the forex market I now have deiceided to give away my system information...
Don't believe in any thing?? but experience have its own values and you cant deny it
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