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The Force 5min system

  • #3,121
  • Oct 12, 2010 3:49am Oct 12, 2010 3:49am
I am off to bed guys. 1:40 am here and I need to work tomorrow. Collected my goal today, always a good thing.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,122
  • Oct 12, 2010 3:53am Oct 12, 2010 3:53am
Thanks Rufus for your patience! really appreciate it...
  • #3,123
  • Oct 12, 2010 3:57am Oct 12, 2010 3:57am
Quoting Heavenforex
Thanks Rufus for your patience! really appreciate it...
No problem.. I love to share what I know
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,124
  • Oct 12, 2010 5:40am Oct 12, 2010 5:40am
Hello Rufus,

sorry to bother you again..just take a look when you are free.

PA made a higher high so I drew a new TL and got the signal to short after the bounce. I entered after the painted candle closed.

1) The question is did I do the right thing coz I am not sure if the old TL will act as support. But I got 20 pips which is lucky.

2) Would you have entered the blue painted candle at the end considering this is a downtrend?
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  • #3,125
  • Oct 12, 2010 4:39pm Oct 12, 2010 4:39pm
Heavenforex,

NICE! You are right to be a little concerned about the TL, i would just play it a little tight at that point and if it didn't look good get out, but i would say "normally" (for that means in this profession) you should be okay.

Hope you got in on that bounce at the bottom also!
A woman drove me to drink, and I forgot to thank her
  • #3,126
  • Oct 12, 2010 8:24pm Oct 12, 2010 8:24pm
Quoting Heavenforex
Hello Rufus,

sorry to bother you again..just take a look when you are free.

PA made a higher high so I drew a new TL and got the signal to short after the bounce. I entered after the painted candle closed.

1) The question is did I do the right thing coz I am not sure if the old TL will act as support. But I got 20 pips which is lucky.

2) Would you have entered the blue painted candle at the end considering this is a downtrend?
I see Simpleguy beat me to it. He is right.

I saw your post this morning but didn't have time to answer. What I will do in situations like that is see if there is any reason to not take the trade. You were with the trend, it broke a small upward trendline. It even turned on 78.6 fib. So I would have taken that one as well. One extra thing I do in situations like this is move my stops quicker. I will take off half the position at 10 pips and move my stop up 10 pips. What this accomplishes is that if I get a sudden reversal to hit my stop I break even overall.

So anyway keep taking the good setups and don't overthink it. As Simple says...."Keep it simple"

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,127
  • Oct 12, 2010 11:41pm Oct 12, 2010 11:41pm
Thanks Simpleguy and Rufus!

I still need more chart time to be familiar with the PA
  • #3,128
  • Oct 12, 2010 11:58pm Oct 12, 2010 11:58pm
Quoting Heavenforex
Thanks Simpleguy and Rufus!

I still need more chart time to be familiar with the PA

TIME is the key...Just watching price move. You don't even need to put on a position to do it.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,129
  • Oct 13, 2010 12:11am Oct 13, 2010 12:11am
I posted a chart which the PA seems to bounce from the resistance...I drew a vertical red line to mark the painted candle...would you guys have enter there?

I am hesistant coz the trend is up and its close to the TL which may bounce up again.
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  • #3,130
  • Oct 13, 2010 12:19am Oct 13, 2010 12:19am
Quoting Heavenforex
I posted a chart which the PA seems to bounce from the resistance...I drew a vertical red line to mark the painted candle...would you guys have enter there?

I am hesistant coz the trend is up and its close to the TL which may bounce up again.

To tell you the truth. About the only time I mess with the Asian session is in the first two hours. PA can be so slow otherwise. The exception here is if price runs into a major S/D zone or a untested and powerful pivot.

If the same candle occured durring London, I would have to evaluate what is going on around it for me to take something againsst the trend. I need a good reason to go against the trend./

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,131
  • Oct 13, 2010 12:25am Oct 13, 2010 12:25am
yea I used to trade only london open till it close...but I saw FJ mention he like asian session coz of the low volatility which make PA more stable.. so I trying to look into asian session too
  • #3,132
  • Oct 13, 2010 12:38am Oct 13, 2010 12:38am
Quoting Heavenforex
yea I used to trade only london open till it close...but I saw FJ mention he like asian session coz of the low volatility which make PA more stable.. so I trying to look into asian session too
Asian session fine if you can stay out of the chop or flat lines. Hence why I look for PA at particular points, especially after the first 2 hours.
If no price action I place no positions.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,133
  • Oct 13, 2010 1:08am Oct 13, 2010 1:08am
ok... one more thing, you mention you need GOOD reason to trade against the trend. Sometimes when we draw TL from 15min is uptrend...zoom in to 5min there is a downtrend. Which will you try to follow?
  • #3,134
  • Oct 13, 2010 1:20am Oct 13, 2010 1:20am
Quoting Heavenforex
ok... one more thing, you mention you need GOOD reason to trade against the trend. Sometimes when we draw TL from 15min is uptrend...zoom in to 5min there is a downtrend. Which will you try to follow?
Personaly I look at the 4h, 1h, 15m trends. If 4h, 1h, 15m, trends all are running the same way. But the 5 is opposite. I wait for the 5 to give me the signal to continue with the overall trend.

I will stay with the 1h trend as my "Guide" but need to be flexible in light of 4h. I like the 15 moving with the hr, then catch the 5 changing directions to match trend of 15 and hr. then take positions.

All this gets thrown out the window when S/D or pivots enter into the picture. Remember the fickle bit#h at the end of a trend.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,135
  • Oct 13, 2010 1:32am Oct 13, 2010 1:32am
Quoting Rufus
Personaly I look at the 4h, 1h, 15m trends. If 4h, 1h, 15m, trends all are running the same way. But the 5 is opposite. I wait for the 5 to give me the signal to continue with the overall trend.

I will stay with the 1h trend as my "Guide" but need to be flexible in light of 4h. I like the 15 moving with the hr, then catch the 5 changing directions to match trend of 15 and hr. then take positions.

All this gets thrown out the window when S/D or pivots enter into the picture. Remember the fickle bit#h at the end of a trend.

Rufus
Thanks Rufus for your guidance! love the word fickle bit#h lol
  • #3,136
  • Oct 13, 2010 3:48am Oct 13, 2010 3:48am
The point of all this trend stuff is stay with it. But it helps to mark up your chart where this trend may end.

Good night all

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,137
  • Oct 18, 2010 3:45am Oct 18, 2010 3:45am
Just to show it still works.

Baged 30 pips.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,138
  • Oct 21, 2010 9:59am Oct 21, 2010 9:59am
Hi all! I am new in the forum and I've just finished reading all this fantastic thread. I want to say thank you for all the hard work you all did. I learnt more in this thread than what reading tens of books.
I hope this thread will reanimate, because this system is not just valid for pips, but because it is teaching me how to "feel" what is going on under my eyes.
  • #3,139
  • Oct 21, 2010 6:31pm Oct 21, 2010 6:31pm
Quoting amletit
Hi all! I am new in the forum and I've just finished reading all this fantastic thread. I want to say thank you for all the hard work you all did. I learnt more in this thread than what reading tens of books.
I hope this thread will reanimate, because this system is not just valid for pips, but because it is teaching me how to "feel" what is going on under my eyes.
It is a great read... I have been through it myself at least twice. I cut my forex teeth with this thread, it does a very good job of teaching you price action. One thing I have found is that it doesn't seem to matter which trading system you are using (provided it is a good one), the good traders seem to be entering at about the same places on the chart. So above all keep things simple. It is very easy to start combining systems and whatnot, then things start getting over complicated.

I like to think of price as being able to move only three ways. Up, down, and sideways. We like the up and down, but let price commit itself to a direction, whether it be 1 5m candle or a 4h candle. I don't attempt to predict the exact spot for price to turn. Let the market speak to you. Sometimes she will lie to you but as you get more familure with PA you will see the lies and stay out of the market for them. If you miss a move....So what, you learn from it. I look at every candle as a story being told. So have fun with the story as it unfolds before your eyes.

I guess I have rambled on enough here. Post any questions you may have. There are a few lurking around who may know the answer. In my opinion one of the most important things you can learn from this is money management. I believe it is at times the most ignored thing with Forex trading.

Trade safe

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,140
  • Oct 22, 2010 8:33am Oct 22, 2010 8:33am
Welcome.

I don't post often, but thought I would today because when I am on the thread I often see a few others reading it.

This has been very good for me. I have not quit my job yet but see hope. I have modified my TP to be 1:1. SL 20 TP 20 and since I am still learning price action I am using the advanced version, but I use the stoch divergence only after stoch has gone ob or os. Of course with the other force 5 signals.

I also use the weekly and monthly pivot points as a guide but for right now take my full profit at +20. I am sure I will do the 50% profit at 20 and let it ride as my account grows. One thing I also do that I gleaned from the thread (though I don't think it was ever said to do) once the profit is at +10 I move my stop from 20 to 10.

I was following exactly what FJ did with the 50% profit at +10 (then I would move my stop to 10) and then tp at 20 for 30% of balance then move to break even and let rest ride. But for me I kept seeing the profit hit around 20 and come back so now I do what I stated above. Seems to work for me.

Of course as soon as I started doing this I would see runs of +50 and +80 but I guess it teaches me to not be greedy :-)

What this method is teaching me is patience. I am a big fan of force5.
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