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The Force 5min system

  • #3,221
  • Nov 11, 2010 3:41am Nov 11, 2010 3:41am
Quoting winty
Hi Rufus
I was watching the first trade you have in your pic and was thinking,is this one for me to take,but I didn't take it in the end. I looked at macd rising but stoch looked over bought for me to have any confidence in taking this trade.You profited well in taking it,but why did you feel confident in taking it?
On the second on the down trend,did you end your trade shortly when stoch went back up shortly.if not,how did you know the trend was going to continue back down to demand zone?

You have to get into the habbit of seeing the whole chart in multiple time frames.

The first was a bounce off of a supply area you see on the 4h chart. I was confident with this position because it was the first time back to this level. My concern with it was the 3800 level above it and the fact that I was trading this jump counter trend durring Asian market which seems to die at times for no apparent reason. So I took profit quickly.

The second was riskier to me. I almost closed it out at a small loss. But price will often (NOT ALWAYS) bounce off "00" So my stop was north of it a bit. Also the overall trend was down.. I was not as confident with this one but it still worked out. That day was a tough trading day. I happened to grab two of the three or four good signals and make out well.

Remember we are not going to win all. We just want more profit then losses.

We also can not become fixated on something so that we don't see other things around it. Stochs. and MACD are lagging indicators. So with a counter trend trade they often will not be telling you what to do. They at this point will lie. This is why it is so important to recognize all potential support and resistance.

Hope this is of some help.

Rufus
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  • #3,222
  • Nov 11, 2010 3:58am Nov 11, 2010 3:58am

"I never blame myself when I'm not hitting. I just blame the bat and if it keeps up, I change bats. After all, if I know it isn't my fault that I'm not hitting, how can I get mad at myself?"

Yogi Berra

Do what inspires confidence for you

Rufus

Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,223
  • Edited 6:01am Nov 12, 2010 5:28am | Edited 6:01am
It has been a bad day for trading today so far imo,but I managed to just get one nice trade. 48 pips I took this one as it bounced of a pivot point,then I closed it on the pivot line below.
Anyone else take this trade?

http://img543.imageshack.us/img543/9238/capturewz.jpg
  • #3,224
  • Nov 12, 2010 5:31am Nov 12, 2010 5:31am
And thanks for the advice. Everything is of help. Appreciated
  • #3,225
  • Nov 12, 2010 8:51am Nov 12, 2010 8:51am
Quoting winty
It has been a bad day for trading today so far imo,but I managed to just get one nice trade. 48 pips I took this one as it bounced of a pivot point,then I closed it on the pivot line below.
Anyone else take this trade?

My rant for my last mistake
http://www.forexfactory.com/showpost...&postcount=801

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,226
  • Nov 12, 2010 4:49pm Nov 12, 2010 4:49pm
Hey Rufus or anyone that has been using the F5? I saw that someone said they did and it filtered out a lot of falsies.

I took a look at it and have been trading the m15 from london open to about 9am pst. and calling it a night at +25 for the day. I have hit my goal every night. Most nights within a couple hours.

Just wanted your thoughts. I am wanting to be true to FJ but if m15 works then maybe it is worth looking at. Just my 2cents
  • #3,227
  • Nov 12, 2010 6:59pm Nov 12, 2010 6:59pm
Quoting stylesdad
Hey Rufus or anyone that has been using the F5? I saw that someone said they did and it filtered out a lot of falsies.

I took a look at it and have been trading the m15 from london open to about 9am pst. and calling it a night at +25 for the day. I have hit my goal every night. Most nights within a couple hours.

Just wanted your thoughts. I am wanting to be true to FJ but if m15 works then maybe it is worth looking at. Just my 2cents

If it is making you pips.....Perfect

15m chart will filter out a lot of noise. I usually watch price action on 15m chart. Trendlines on the 15 as well. Then often times will take the 5m signal when things line up correctly according to the 15m chart. If that makes any sense. Regardless, congrats on finding something that works for you.

Rufus
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  • #3,228
  • Nov 12, 2010 7:22pm Nov 12, 2010 7:22pm
Rufus,

I work nights and can trade 7:30 a.m. mountain time to about 10:00 a.m then I have to go to bed. Anyway this morning I made about 50 points in about 2 1/2 hours. My charts are set up exactly as shown on the first
few pages. 50 points in a few hours and I was very pleased. 5 minute
chart. (or 9:30 a.m. EST to 12:00 EST). Thanks for all your help!

snarlyjack
  • #3,229
  • Nov 12, 2010 8:05pm Nov 12, 2010 8:05pm
Quoting snarlyjack
Rufus,

I work nights and can trade 7:30 a.m. mountain time to about 10:00 a.m then I have to go to bed. Anyway this morning I made about 50 points in about 2 1/2 hours. My charts are set up exactly as shown on the first
few pages. 50 points in a few hours and I was very pleased. 5 minute
chart. (or 9:30 a.m. EST to 12:00 EST). Thanks for all your help!

snarlyjack

Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,230
  • Nov 13, 2010 4:13am Nov 13, 2010 4:13am
Maybe i missed reading it in this thread. How many pips stop loss would you recommend ?
  • #3,231
  • Nov 13, 2010 5:30am Nov 13, 2010 5:30am
Quoting winty
Maybe i missed reading it in this thread. How many pips stop loss would you recommend ?
Ive found the answer now,looks like 20 pips stop loss is the most common..
  • #3,232
  • Nov 15, 2010 10:33am Nov 15, 2010 10:33am
Hello Rufus, I've got a few questions for you: what is your method of exit (if it's not a secret) ? And what methods you can advice?
  • #3,233
  • Nov 15, 2010 6:41pm Nov 15, 2010 6:41pm
Quoting Alex_F.X.
Hello Rufus, I've got a few questions for you: what is your method of exit (if it's not a secret) ? And what methods you can advice?

The thread has a 10 & 20 pip exit rule to start with. This is a good thing. Then as you start to get used to price action at various levels you will begin to forsee a little where there may be better places to exit. I personaly like to get my position covered as quickly as possible. Whether that be closing a large part of it or getting my stop to BE, or a combination of both.

So for exits for me I look for where price will have problems getting through and possibly make that my first target. But as you start to get more familiar with price action you will start to get a feal for how much to take off where. There is really not set rules for me other than to act in my own best intrest. So if I see a major Supply/Demand level approaching I will exit all before it gets there. If I think it is only a bump in the road I may ignore it completly. The key is to act in your own best intrest. What are you comfortable with?

Trading is 90% mental. The other half is technical.

Hope this is of help.

Rufus
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  • #3,234
  • Nov 16, 2010 1:08pm Nov 16, 2010 1:08pm
Rufus, I've got one more question: what percent of profitable/not_profitable deals will it be (following basic rules)?
  • #3,235
  • Nov 16, 2010 6:43pm Nov 16, 2010 6:43pm
Quoting Alex_F.X.
Rufus, I've got one more question: what percent of profitable/not_profitable deals will it be (following basic rules)?

You CANNOT take every signal. You have to keep an eye out for danger zones, "00", S/R, S/D, pivots, etc. But if you learn how to interpret price action and stay away from the danger zones. You can easily approach 75 - 80%. The key though is learning the price action.

It isn't a plug and play system.

Hope that is of some help.

Rufus
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  • #3,236
  • Nov 18, 2010 10:35am Nov 18, 2010 10:35am
I can only trade the Asian session between 7pm to 11pm EST. To increase the probability of my trades I'd like to know how the Asia session (specifically the open) gerenrally trades. I'm looking for general guidleines in this forum or on the web. Any ideas?

I have not been able to find anything with the exception of two basic concepts: (1) If NY comes in roaring to Asia with a definite trend then watch to trade the fade and (2) If the fade has started at the end of NY then trade with the trend when price hits long-term support/ resistance in the Asia open. Rufus, since you trade this session perhaps you have seen some helpful resources. What are your own observations if I may ask? Anyone else?
  • #3,237
  • Nov 18, 2010 7:28pm Nov 18, 2010 7:28pm
Quoting Reset_JL
I can only trade the Asian session between 7pm to 11pm EST. To increase the probability of my trades I'd like to know how the Asia session (specifically the open) gerenrally trades. I'm looking for general guidleines in this forum or on the web. Any ideas?

I have not been able to find anything with the exception of two basic concepts: (1) If NY comes in roaring to Asia with a definite trend then watch to trade the fade and (2) If the fade has started at the end of NY then trade with the trend when price hits long-term support/ resistance in the...
Hi Reset

When it comes to the Asian session I will just about always take a position off of a S/D, or a good S/R level. I do very few trend continuation positions. The exception here is if I happen to get some sort of pull back to a strong fib level or something.

The key here is that every night you get the chance sit down with your charts and watch the PA. Sometimes with the Asian session you can get in on a good swing trade and have it carry through all the way to the USA session. Those can be some big pipage. When you get one that starts running like that set a 150 pip target on a small part and let it roll. Usually you need to close it before the US session gets ahold of it.

All in all it will take some chart watching to get an idea what you are comfortable with and be patient with your position, at times it can move painfully slow.

Hopefully this helps

Rufus
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  • #3,238
  • Nov 18, 2010 9:57pm Nov 18, 2010 9:57pm
Thanks Rufus. Tonight I found resistance on some pivots on A/U and E/U and then entered on the first retracement - good pips. I find that pivots can just be blasted through unless they've been the previous points of S/R.

Keep on posting Rufus.
  • #3,239
  • Nov 25, 2010 11:38pm Nov 25, 2010 11:38pm
Good day all traders.

How active is the F5 still being traded as the activity on this tread is becoming minimal?

Thank you
  • #3,240
  • Nov 26, 2010 1:56am Nov 26, 2010 1:56am
I watch it every day

Rufus
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