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The Force 5min system

  • #3,261
  • Dec 7, 2010 9:02am Dec 7, 2010 9:02am
Quoting snarlyjack
Hi Rufus and Simple Guy,

Thanks for all your help!

I keep jumping from system to system only to find that they really don't
work and I keep coming back to the Force. I guess I just need to
quit looking at other systems and learn this one like the back of my
hand.

I really appreciated the goose and the golden egg picture. Maybe it is
trying to tell me something?

Once again thanks for all your help!

snarlyjack
Hi Snarly

"I keep jumping from system to system"

No matter what system you use it gets down to price action. Simple's post above was an example of pure price ation. Last night was not an "easy" night either a lot of chop.

So welcome back to the force......Remember....

"Do or do not there is no try"

Yoda



Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,262
  • Dec 7, 2010 9:24am Dec 7, 2010 9:24am
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Hi Rufus,

I'm something of a thread-jumper myself, but I like the simplicity of this system so I thought I'd pop in and try a few trades.

Attached is a M5 chart with indicators, and a M30 chart for long-term PA, which is my chart layout for now.

I have S/R lines on M30 chart, and price has just tested support, which tells me it may be at the bottom of this retrace. So I will look to the M5 chart for entry. Stoch is already oversold, so am waiting for MACD to turn up to enter.

Would you say this is a reasonable approach to this particular setup? Using Force 5 indicators combined with PA?

Sorry, my charts are rather large. I will minimize them next time.

Thanks for your input.

Wally
"Be the change that you wish to see in the world." --Gandhi
  • #3,263
  • Dec 7, 2010 9:37am Dec 7, 2010 9:37am
Quoting Wally1953
Attachment
Attachment

Hi Rufus,

I'm something of a thread-jumper myself, but I like the simplicity of this system so I thought I'd pop in and try a few trades.

Attached is a M5 chart with indicators, and a M30 chart for long-term PA, which is my chart layout for now.

I have S/R lines on M30 chart, and price has just tested support, which tells me it may be at the bottom of this retrace. So I will look to the M5 chart for entry. Stoch is already oversold, so am waiting for MACD to turn up to enter.

Would you say...
Hi Wally

I think this ia a good approach.

I do something similar.

I use 1 hr for trend direction, S/R, etc. I watch the chart on 15m, Take my entries on a 5m,

With all this it is easy to overlook the weekly and 4hr (The ones I use).
I watch these as well for major S/R, S/D that you don't see on the smaller time frames.

Last night the nicest move was of the Supply area on 15m and 1h charts. I was to tired to stay up for it.

The chart I posted shows the supply with the yellow box to the right. I took a position up to the supply.

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,264
  • Dec 7, 2010 9:41am Dec 7, 2010 9:41am
This chart shows better. I saw it developing but went to bed instead.

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: 12.07eushortsupply.jpg Size: 85 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,265
  • Dec 7, 2010 10:24am Dec 7, 2010 10:24am
Just wanted to post this chart....Watch PA, supply and demand. Even in a range, if it is big enough you can gather pips with F5 signal.

Rufus
Attached Image (click to enlarge)
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,266
  • Dec 7, 2010 11:20am Dec 7, 2010 11:20am
Rufus,

Do you use a ema or a sma trend not to trade against? For example
a 50 ema. If so what do you use?

thanks

snarlyjack
  • #3,267
  • Dec 7, 2010 1:12pm Dec 7, 2010 1:12pm
Quoting snarlyjack
Rufus,

Do you use a ema or a sma trend not to trade against? For example
a 50 ema. If so what do you use?

thanks

snarlyjack

Hi Snarly

I use a 50ema h+l/ 2 This smooths it out more especially when we start getting wild spikes

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,268
  • Dec 7, 2010 2:39pm Dec 7, 2010 2:39pm
Hi Wally. I too use similar charts to Rufus. For each pair that I trade I have a split screen - left side is for 15 min and right side is for 5 min. I basically trade off the 15 min although saying that you "trade off" any timeframe while admitting that you look at mutiple timeframes seems contradictory - anyway 15 min is my main chart. 5 min is for entries. I find that the PA on the 5 min tells you what will happen on the 15 min. I then toggle from time to time to the 60 min chart to see overall trend and S/R areas.
  • #3,269
  • Dec 8, 2010 2:25am Dec 8, 2010 2:25am
Took 3 trades so far, all of hit me up with the whiplash. So far i'm down 14 pips. twice I got in the trade about 1 minute to early when the last whip come back and got me. This is why trading right after the LO can be dangerous to your account. Unless you have a few years on screen time please don't trade like I am. Wait for candles to close, if I did that i would not have lost any pips today and be up+2. I just know the way I trade it will work out for me in the long run.

the question of the morning. Is this uptrend on the 5 minute just a good correction in the trend in place for six hours, or is that where London wants to push it?

I'm sitting on my hands for about 10-15 minutes, I need to take a step back and get a better look at the waves.

Simple!
A woman drove me to drink, and I forgot to thank her
  • #3,270
  • Dec 8, 2010 2:32am Dec 8, 2010 2:32am
In the pic you can see the long wicks, that is usually a good sign that selling pressure is coming in, & then we had a 2 bar pull back. Next bar is showing fairly strong bull also I am putting a sell order just under (2 pips) my short term TL, I'm putting my faith in the trend my friends.

if I'm out one more trade, I'm done till after 4. It's days like this that you don't mind losing when you keep your losses small. One solid trade and I'm positive for the day. Just wondering WHEN that trade will come, lol
Attached Image (click to enlarge)
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A woman drove me to drink, and I forgot to thank her
  • #3,271
  • Dec 8, 2010 2:41am Dec 8, 2010 2:41am
Quoting simpleguy
In the pic you can see the long wicks, that is usually a good sign that selling pressure is coming in, & then we had a 2 bar pull back. Next bar is showing fairly strong bull also I am putting a sell order just under (2 pips) my short term TL, I'm putting my faith in the trend my friends.

if I'm out one more trade, I'm done till after 4. It's days like this that you don't mind losing when you keep your losses small. One solid trade and I'm positive for the day. Just wondering WHEN that trade will come, lol


Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,272
  • Dec 8, 2010 2:43am Dec 8, 2010 2:43am
I am in that short, I'm sitting about BE. the price doesn't feel like it really wants to break short. it keeps making a push down and about 2 pips and buying pressure is putting it up 2 pips. right now we are in a battle of supply and demand, we will find out which side has more money on the table right now.

Since I saw this I brought my SL a little closer since there is a better shot of it going against me. What I expect to see is for this bar to go back and forth in this short span and then suddenly, break in a direction, I'm looking short with the over all trend and the break of the short term TL, it's 50-50 as of now.

And I'm out with -5. three strikes and I'm out. I'm going to check on my long term trades I'm looking at and go back to bed till the morning and do this all over again through out the day. I love working from home.

Hope you guys can learn something from my losses. (hint: 3 loses and only down 19 pips & that's bad for me)
A woman drove me to drink, and I forgot to thank her
  • #3,273
  • Dec 8, 2010 2:47am Dec 8, 2010 2:47am
Quoting simpleguy
I am in that short, I'm sitting about BE. the price doesn't feel like it really wants to break short. it keeps making a push down and about 2 pips and buying pressure is putting it up 2 pips. right now we are in a battle of supply and demand, we will find out which side has more money on the table right now.

Since I saw this I brought my SL a little closer since there is a better shot of it going against me. What I expect to see is for this bar to go back and forth in this short span and then suddenly, break in a direction, I'm looking short...
I am in with a short as well.... I am still expecting a break south.. I think a lot of the PA we see at times is banks moving price around till they get their orders filled. I tell you though I feal like I am watching the Sidney session.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,274
  • Dec 8, 2010 2:54am Dec 8, 2010 2:54am
Rufus, I think by looking at the charts you'll get that short, I still have a hard time sitting there on a scalp play for a longer period of time without anything happening. I just move my SL up nice and tight and let it decide, give me momentum, or give me a small lose. Just what keeps me emotionally happy, lol

How much of a SL are you using these days?

You seeing any good S/D that meets your standards?
A woman drove me to drink, and I forgot to thank her
  • #3,275
  • Dec 8, 2010 3:01am Dec 8, 2010 3:01am
Quoting simpleguy
Rufus, I think by looking at the charts you'll get that short, I still have a hard time sitting there on a scalp play for a longer period of time without anything happening. I just move my SL up nice and tight and let it decide, give me momentum, or give me a small lose. Just what keeps me emotionally happy, lol

How much of a SL are you using these days?

You seeing any good S/D that meets your standards?

I am shooting for it and it is starting to look promising.

Chart show my thinking.......I think?

Rufus
Attached Image (click to enlarge)
Click to Enlarge Name: 12.08eushortf1h.jpg Size: 107 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,276
  • Dec 8, 2010 3:04am Dec 8, 2010 3:04am
Quoting Rufus
I am shooting for it and it is starting to look promising.

Chart show my thinking.......I think?

Rufus
You asked about my stop loss.

It will very from 8 to 25 on a 5m chart.. Today's is around 20.. I place them 5-7 pips over the swing high. Or over a technically strong area. Still never risking nore than 1%

Rufus
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  • #3,277
  • Dec 8, 2010 3:05am Dec 8, 2010 3:05am
Oh sweet pipage
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,278
  • Dec 8, 2010 3:06am Dec 8, 2010 3:06am
"Iceland central banks cuts key interest key rate to 4.5% from 5.5%"
edit.: ups, sry wrong thread
  • #3,279
  • Dec 8, 2010 3:08am Dec 8, 2010 3:08am
nice! You should be around your +20 right now!

Good work! this is one of those mornings I just didn't pick up on the Markets vibes correctly. Oh well, there is always New York!

Nice trade, chat later
A woman drove me to drink, and I forgot to thank her
  • #3,280
  • Dec 8, 2010 3:13am Dec 8, 2010 3:13am
Quoting simpleguy
nice! You should be around your +20 right now!

Good work! this is one of those mornings I just didn't pick up on the Markets vibes correctly. Oh well, there is always New York!

Nice trade, chat later
Took 1/2 off at 20,

Rest is cooking last target abot 125 pips away.

I will talk latter. Got to get stuff set to BE and go to bed.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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