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5Min Intraday System

  • #7,221
  • Oct 25, 2010 7:36am Oct 25, 2010 7:36am
Mid trades

Who writes EA ?
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  • #7,222
  • Oct 25, 2010 10:21am Oct 25, 2010 10:21am
Warrants are closed. Finish.
Who writes EA ?
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  • #7,223
  • Oct 25, 2010 4:19pm Oct 25, 2010 4:19pm
Hello Golfer

Do you not use MACD anymore ?
  • #7,224
  • Oct 25, 2010 11:14pm Oct 25, 2010 11:14pm
Quoting Thierry89
Hello Golfer

Do you not use MACD anymore ?
No, please read the last few pages of this thread - you'll find my way of trading this system.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,225
  • Oct 26, 2010 6:26am Oct 26, 2010 6:26am
Hi Golfer!
I need your advice
Is it better to stay out of the market till Nov 3 when the Fed sheds some light on QE2? The currency market has been very volatile for 2 days and to my mind it is hard to use this system right now....There are also a lot of important news this week...
What do you think?
  • #7,226
  • Oct 26, 2010 7:25am Oct 26, 2010 7:25am
Trade today.

Who write advisor?
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  • #7,227
  • Oct 26, 2010 8:23am Oct 26, 2010 8:23am
This seems to work well on the 1m charts also. I wait until I get a good 1M buy or sell signal (current candle closes above or below latest candle close). Then, if price moves 3 more pips, I get in.

It is important to wait for the retrace into the ma's zone or you will get false setups.


Thanks
  • #7,228
  • Oct 26, 2010 12:58pm Oct 26, 2010 12:58pm
Quoting slovforex
Hi Golfer!
I need your advice
Is it better to stay out of the market till Nov 3 when the Fed sheds some light on QE2? The currency market has been very volatile for 2 days and to my mind it is hard to use this system right now....There are also a lot of important news this week...
What do you think?
Hi S

No, I am still looking for setups. If I do see the right setup, I'll take the setup. I'll just be extra careful.

Just be careful for range-bound markets and the EURO is up against the BRN of 1.40000

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,229
  • Oct 26, 2010 8:24pm Oct 26, 2010 8:24pm
Quoting Golfer
Hi S

No, I am still looking for setups. If I do see the right setup, I'll take the setup. I'll just be extra careful.

Just be careful for range-bound markets and the EURO is up against the BRN of 1.40000

Enjoy the trading
Ok, thanks
  • #7,230
  • Oct 29, 2010 12:28pm Oct 29, 2010 12:28pm
hello everyone .it is my chart with this system. and my question is how can i draw the 21ema on the sma angle indicator??? thank you very much . good luck .
and which pairs ddi you trade with this system ??? just the 4 pairs which have told ??? any other pairs did you try ?? thank you
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A chart helps those who can read it.
  • #7,231
  • Oct 29, 2010 12:57pm Oct 29, 2010 12:57pm
Hi friends,

I am new to this forum, found this thread very interesting.

Have used conventional indicators and traded but not succesful all these days.

I traded on demo using coloured MACD and SMA angle indicator. I enter into trade when histogram bar crosses zero or signal TC comes. Quite interesting.

Exit when histogram again crosses zero. I trade when the angle is more than 21 degrees.

I am yet to use philnel signals. The problem using this is that sometimes, when actually reversal happens ( histogram crossing zero ), the philnel signal gives opposite signal.

Is there any remidy for this? I mean the philnel signal has to be used in conjunction with any other indicator?

I use 10EMA, 21EMA, 50 sma ALSO.

For any long or short trade, what should be stop loss criteria?

I request members to reply in a way i can master this sytem, Thanks.
Intraday only.
  • #7,232
  • Oct 30, 2010 7:39am Oct 30, 2010 7:39am
Quoting geniusztc
hello everyone .it is my chart with this system. and my question is how can i draw the 21ema on the sma angle indicator??? thank you very much.
Press ctrl+n
there will be window on a left with all indicaors listed.
find "moving average" then drag and drop on the sma angle window.
Then in settings there is a window saing: "apply to: close" change it to "apply to "first indicator data"
And there you go.

If you leave it apply to close the MA still will be on a chart instead of the angle indi...
  • #7,233
  • Oct 30, 2010 12:15pm Oct 30, 2010 12:15pm
Quoting Krysztau
Press ctrl+n
there will be window on a left with all indicaors listed.
find "moving average" then drag and drop on the sma angle window.
Then in settings there is a window saing: "apply to: close" change it to "apply to "first indicator data"
And there you go.

If you leave it apply to close the MA still will be on a chart instead of the angle indi...
got it .thank you very much ,give you my best wishes . good luck .

and i just use this system in eu gu uj and ej which we have told .i do not use the AOX in my chart ,just do not understand the indicator. what about you of using the system .
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A chart helps those who can read it.
  • #7,234
  • Oct 31, 2010 1:19pm Oct 31, 2010 1:19pm
Quoting geniusztc
got it .thank you very much ,give you my best wishes . good luck .

and i just use this system in eu gu uj and ej which we have told .i do not use the AOX in my chart ,just do not understand the indicator. what about you of using the system .
Hi G

Your chart looks fine - perfect.

Don't worry about additional indicators - those indicators on your chart are more than enough. Currently I am using the system as Phillip introduced the system on his very first post - only the three (10, 21 & 50) MAs. This system is all about price actions and movements between the MAs. These MAs is an indication where support and resistance levels might be and price might react as it comes near the MAs.

My opinion and experience with this system - the more indicators you add to the system, the more complicated you are making it for yourself to trade it, the more difficult it is to understand the system.

You are correct with that other indicator you said you don't understand - if you don't understand what you are doing, ignore it and don't do it. The same for this system. If you don't understand the principles behind price actions, you'll find this system difficult to trade. I came to realise it myself - I wanted to add more indicators because I did not understand price actions. Therefor, I decided to read more about price actions - and this is where I am today. Back to the original system as Phillip proposed it (I just included my significant levels).

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,235
  • Oct 31, 2010 1:33pm Oct 31, 2010 1:33pm
Quoting Golfer
Hi G

Your chart looks fine - perfect.

Don't worry about additional indicators - those indicators on your chart are more than enough. Currently I am using the system as Phillip introduced the system on his very first post - only the three (10, 21 & 50) MAs. This system is all about price actions and movements between the MAs. These MAs is an indication where support and resistance levels might be and price might react as it comes near the MAs.

My opinion and experience with this system - the more indicators you add to the system, the more complicated...
Golfer,

I would appreciate if you can tell me the download link for angle indicator. The one i downloaded does not show moving average line.

Thanks.
Intraday only.
  • #7,236
  • Edited 1:57pm Oct 31, 2010 1:35pm | Edited 1:57pm
Quoting navk
Hi friends,

I am new to this forum, found this thread very interesting.

Have used conventional indicators and traded but not succesful all these days.

I traded on demo using coloured MACD and SMA angle indicator. I enter into trade when histogram bar crosses zero or signal TC comes. Quite interesting.

Exit when histogram again crosses zero. I trade when the angle is more than 21 degrees.

I am yet to use philnel signals. The problem using this is that sometimes, when actually reversal happens ( histogram crossing zero ), the philnel signal...
Hi N

I know you are not going to like my reply - but here it is anyway:

A year or so ago I was in the same frame of mind as you - trading indicators rather than trading price actions. I got burned on several occations trying to trade the indicators, even to such an extend that I went and studied price actions (see my previous post).

So, a few months ago I returned to this system and only now I understand what Phillip was trying to achieve with this system. So, I decided to try his original system (his first few pages/posts on this thread) again and I combine it with two other 5min systems that make perfectly sense to me. They do compliment each other and I am using them from 15H00-19H00 GMT. I am constantly achieving a growth on 10% per month on my Trial Account (see previous posts a few pages back).

Therefore, I am not really going to comment on your question but I would rather suggest you view/read and study all the links and documents on the first pages I've asked Phillip to post for us. You'll find excellent examples of how to use some of the indicators and candle formation in this system.

Then you need to start posting charts/trades with reasons why you took the trades so that the other members can comment on it. Always provide reasons why you took a trade (what I call the story behind the trade). THERE MUST BE A STORY (REASON) BEHIND EVERY TRADE. Othwerwise it is gambling and not trading.

It is all about reading, studying, reading, studying, rading and....... I cannot emphasise it enough - nothing comes easy in forex trading. You need to understand what you are doing to become part of the 5% who make it in forex trading.

I hope it make sense.

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,237
  • Oct 31, 2010 1:40pm Oct 31, 2010 1:40pm
Quoting geniusztc
hello everyone .it is my chart with this system. and my question is how can i draw the 21ema on the sma angle indicator??? thank you very much . good luck .
and which pairs ddi you trade with this system ??? just the 4 pairs which have told ??? any other pairs did you try ?? thank you

Hi G

I am still trading only my 3 pairs - EURO, CABLE and EY. Those are just the pairs I like to trade using the 5min systems I am using. Just a personal preference - nothing special about it. It is just my style of trading to look for setups in 3 pairs - I cannot follow more pairs at this stage.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,238
  • Oct 31, 2010 1:48pm Oct 31, 2010 1:48pm
Quoting navk
Golfer,

I would appreciate if you can tell me the download link for angle indicator. The one i downloaded does not show moving average line.

Thanks.
You need to drag it unto the SMAangle indicator. Krysztau just explained in post #7232 how to do it and I posted an explanation on the first page of this thread under My Rules. http://www.forexfactory.com/showpost...postcount=2334
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,239
  • Oct 31, 2010 1:50pm Oct 31, 2010 1:50pm
Quoting Golfer
Hi N

I know you are not going to like my reply - but here it is anyway:

A year or so ago I was in the same frame of mind as you - trading indicators rather than trading price actions. I got burned on several occations trying to trade the indicators, even to such an extend that I went and studied price actions (see my previous post).

So, a few months ago I returned to this system and only now I understand what Phillip was trying to achieve with this system. So, I decided to try his original system (his first few pages/posts on this thread)...
I do understand what you wanted to say and appreciate your quick response.

I am in the process of studying the systems proposed in the first page by philip and will throw my questions to you in doubt.

Thanks again.
Intraday only.
  • #7,240
  • Oct 31, 2010 1:54pm Oct 31, 2010 1:54pm
Quoting navk
Hi friends,

I am new to this forum, found this thread very interesting.

Have used conventional indicators and traded but not succesful all these days.

I traded on demo using coloured MACD and SMA angle indicator. I enter into trade when histogram bar crosses zero or signal TC comes. Quite interesting.

Exit when histogram again crosses zero. I trade when the angle is more than 21 degrees.

I am yet to use philnel signals. The problem using this is that sometimes, when actually reversal happens ( histogram crossing zero ), the philnel signal...
Hi N

Your question:

For any long or short trade, what should be stop loss criteria?

To me. it is all about your style of trading. Personally I like to put the SL below the war zone in a long trade or above the war zone in a shor trade. Or you can use the previous swing high or low and put your SL just below or above that previous swing high or low.

Just be careful with your risk ratio.

Enjoy it
Willem Forex recipe for success = Patience, discipline & hard work.
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