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The Force 5min system

  • #3,281
  • Dec 8, 2010 1:20am Dec 8, 2010 1:20am
Right now there is a 5m candle moving against me hard... What to do???

On my 1h chart I posted I showed a demand area I thought was mostly spent. That is what price ran into. I thought mostly spent, so I am leaving the position as is, stops set at BE +. Stick to the plan

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,282
  • Dec 8, 2010 1:22am Dec 8, 2010 1:22am
By the way. This retrace may result in a new F5 entry short.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,283
  • Dec 8, 2010 1:27am Dec 8, 2010 1:27am
Quoting Rufus
Right now there is a 5m candle moving against me hard... What to do???

On my 1h chart I posted I showed a demand area I thought was mostly spent. That is what price ran into. I thought mostly spent, so I am leaving the position as is, stops set at BE +. Stick to the plan

Rufus
Nicked my stops. Still profitable for the night and stuck to my plan.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,284
  • Dec 8, 2010 1:33am Dec 8, 2010 1:33am
Good night all....I have had enough fun.. I have to go to work tomorrow..Not trading full time yet

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,285
  • Dec 8, 2010 8:04am Dec 8, 2010 8:04am
I've seen a lot of action during the day but I just didn't see anything I liked till a little bit ago. in the chart you can see how I traded it, I saw a swing high that was a bounce off of the weekly pivot. I should have pulled the trigger up there but the way things were going today, I just didn't feel my capital was safe doing it. So I waited for the basic signal to occur.

I entered on the green line1.3246 I took half off at BE+10 and left the rest ride. When I got to +20 I moved my SL from BE to BE +10.

I want you to notice the first green candle. Up to that point we had a impulsive move, a move with momentum. I noticed a double bottom and suspected a correction. I was looking for it to go back the 5's. The bull candle went over 50% higher than the previous candle which tells me the first bear thrust, I'm back in. Green candle closed.

The next candle opened and kept going up so I place a sell limit order at the close of the previous bar, when it came back I got back into the trade with a second order taking it short. The next candle had me worried but i was still in profit. I rode the next trade took half off at BE+10

Moved all my SLs up to fast to 1.3219 after i took half off and got stopped out.

Remember keep losses small and one good trade you will make back all your losses and more. 27 pips on one trade and 5 on the other, plus twice i took half off at +10. the day is profitable again! Thank you trading Gods

Hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: sample chart 3.gif Size: 37 KB
A woman drove me to drink, and I forgot to thank her
  • #3,286
  • Dec 8, 2010 3:16pm Dec 8, 2010 3:16pm
Rufus,

Has anyone tried the force system on a different time frame, rather than
the 5 minute chart?

For example I can only trade about 2 1/2 hours a day. From 7:30 a.m. to
9:30 a.m. This morning and a lot of mornings I have to wait for about
an hour for a trade to set up then I only make 10 to 15 points.

I was thinking if I could get things to perk along faster. Say the
1 minute chart would give me a lot more opportunities to trade. The
only problem I see is the 1 minute chart is so unstable.

Since you work and only have so much time to trade I was wondering
your thoughts on the whole time frame subject?

Thanks

snarlyjack
  • #3,287
  • Dec 8, 2010 4:22pm Dec 8, 2010 4:22pm
Snarly,

I don't know your experience but honestly I would stay away from the 1 minute charts. They move fast, random, and is very hard to do. I guess it would work but I stay away from it. If you only have that time, trade that time. that or you could do like I do, I am up half the night trading for a few hours. If you get good, the Frankford and London Open should be able to get you enough.

Simple
A woman drove me to drink, and I forgot to thank her
  • #3,288
  • Dec 8, 2010 4:56pm Dec 8, 2010 4:56pm
Quoting snarlyjack
Rufus,

Has anyone tried the force system on a different time frame, rather than
the 5 minute chart?

For example I can only trade about 2 1/2 hours a day. From 7:30 a.m. to
9:30 a.m. This morning and a lot of mornings I have to wait for about
an hour for a trade to set up then I only make 10 to 15 points.

I was thinking if I could get things to perk along faster. Say the
1 minute chart would give me a lot more opportunities to trade. The
only problem I see is the 1 minute chart is so unstable.

Since you work and only have so much time to...
Hey Snarly

Simple feels the way I do. Some can trade 1m charts effectivly and do well. I am not one of them. As for F5....It was designed by FJ for the 5m chart.

The key here is to not get antsy or impatient. I will often sit in front of a chart for an hour or more just waiting. Then there are times I don't get a signal at all. One good profitable run is all you want. Sometimes it is there sometimes it is not.

I know work makes it difficult. I know first hand. It is a constant juggle between Forex, work, sleep and time with family. All need to be balanced out to be successful in any of them. So trade the hours you can. If you have a wife discuss with her what you would like to do and some of the sessions you want to catch and work it together. Mine understands what I am doing and works with me on it, makes things a lot easier.

You will find the balance, it will be work but it is there.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,289
  • Dec 8, 2010 5:22pm Dec 8, 2010 5:22pm
Hi all.

One of the things I struggle with is catching a move with the Asian session. My signal today occured 35 min before I got home from work. This happens a lot.

My solutuion....

I will be bringing my lap top to work and may even set it up on the job site. One of my favorite things to catch is a position with the Asian that carries through to the US...It happens a lot. It makes for some big pipage.

I am also going to design a desk that I can set up in the passenger seat of my truck so I can just sit there and wait if I want. Just thinking through options. When I trade this session I will often take half my position off at 20 pips. Leave the stop at BE -10pips for the rest. Then when London opens if the positions are still active set the targets.

Some food for thought....If I did it today I would be up 60 pips right now.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,290
  • Dec 8, 2010 5:29pm Dec 8, 2010 5:29pm
Quoting Rufus
Hi all.

One of the things I struggle with is catching a move with the Asian session. My signal today occured 35 min before I got home from work. This happens a lot.

My solutuion....

I will be bringing my lap top to work and may even set it up on the job site. One of my favorite things to catch is a position with the Asian that carries through to the US...It happens a lot. It makes for some big pipage.

I am also going to design a desk that I can set up in the passenger seat of my truck so I can just sit there and wait if I want. Just...

I would look at the Ipad with the 3G service. I played with one this weekend for the first time. I know it has some awesome services and the charting is pretty nice. I downloaded some stuff on my friends to see what it was like, loved it. Easier to move around that laptop too.

just my 2 pips
A woman drove me to drink, and I forgot to thank her
  • #3,291
  • Dec 8, 2010 5:30pm Dec 8, 2010 5:30pm
Rufus,
Need to double-check this with you (and anybody else who has been trading this system long enough):

Is EUR/USD the only pair that you trade, or you have tried (and trade now) other pairs?
Thank you
  • #3,292
  • Dec 8, 2010 5:37pm Dec 8, 2010 5:37pm
Quoting MidnightRun
Rufus,
Need to double-check this with you (and anybody else who has been trading this system long enough):

Is EUR/USD the only pair that you trade, or you have tried (and trade now) other pairs?
Thank you

The only pair I trade with F5..

I would also say that about 85% of my positions are with the EU. EU is the first pair I look at for positions. So if something is looking promising I go no further but wait for the setup.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,293
  • Dec 8, 2010 5:41pm Dec 8, 2010 5:41pm
Quoting simpleguy
I would look at the Ipad with the 3G service. I played with one this weekend for the first time. I know it has some awesome services and the charting is pretty nice. I downloaded some stuff on my friends to see what it was like, loved it. Easier to move around that laptop too.

just my 2 pips
2 pips taken

I thought about that and may go that direction eventually.. But I am a cheapskate and already have an old laptop....You know something? I just thought of a guy that might be able to get me an Ipad cheap...His company has issued them to people and some of them don't want it...hmmmm
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,294
  • Dec 9, 2010 2:41am Dec 9, 2010 2:41am
hi, i´m testing this system i and like it.
please, someone use it in TF 4h ?
Thanks.
  • #3,295
  • Dec 9, 2010 4:46am Dec 9, 2010 4:46am
Quoting arkan1976
hi, i´m testing this system i and like it.
please, someone use it in TF 4h ?
Thanks.
Jedi only tested in the 5 min TF, and that's all I've ever used it on.
A woman drove me to drink, and I forgot to thank her
  • #3,296
  • Dec 9, 2010 7:47am Dec 9, 2010 7:47am
I didn't trade last night which sucks cause it looks like it would have been a great night.

current trade; I'm only looking for shorts right now on the Eur/USd. Watch the trade start to go up toward the weekly pivot and stop at previous resistance, the highest green line and then made a fairly past, quick drop. that was my impulsive move down that I look for. Now we have a 3 bar retrace that flirts around the Daily and then turns straight down, I got in at the open of the next bar (middle green line)and rode it down. The first bar down had a little wick on the bottom and the next bar gave a slight retrace so I entered at the open(bottom green line), still felt like it was an impulsive move and doubled down on my trade.

1st trade: 50% out at +10, 50% at +20 SL sitting at top of the double top that formed will see where it ends up
2nd trade: 50% out at +10 50% out at +20 close at 38
Attached Image (click to enlarge)
Click to Enlarge Name: sample chart 4.gif Size: 41 KB
A woman drove me to drink, and I forgot to thank her
  • #3,297
  • Dec 9, 2010 12:38pm Dec 9, 2010 12:38pm
Quoting simpleguy
I didn't trade last night which sucks cause it looks like it would have been a great night.

current trade; I'm only looking for shorts right now on the Eur/USd. Watch the trade start to go up toward the weekly pivot and stop at previous resistance, the highest green line and then made a fairly past, quick drop. that was my impulsive move down that I look for. Now we have a 3 bar retrace that flirts around the Daily and then turns straight down, I got in at the open of the next bar (middle green line)and rode it down. The first bar down had a...
I just started looking at this method and am curious as to what you saw last night that looked good, because I don't see much of anything according to the rules.
  • #3,298
  • Edited 1:07pm Dec 9, 2010 1:05pm | Edited 1:07pm
Quoting MNFX
I just started looking at this method and am curious as to what you saw last night that looked good, because I don't see much of anything according to the rules.
Now what I see on this is not from only the basic and advanced trading of the system, there is a lot of expert type of plays here, plus other stuff Jedi and others have taught me. More tools in the bag. I don't know if i would have traded it the way below, but all my rules say i would have, so I hope I would have.

What i see when i look at it is before the London Open (red vert. bar) consolidation. right before the LO I see an Impulsive move down, although not a very impresive one but what I love is that three candle correction that occurred.

The blue line is where I would have gotten in because
1. a basic signal happen
2. thrust bar after a pull back/corrective wave

Then you see it drop for 3 bars after the blue line and consolidate. then I would
1. Move the SL to the top of the 3rd bar from entry (look at daily pivot also)
2. Placed a sell order just below the new support
3. Entered with another order on the break of that support

You will see where the you have 4 little bullish candles at the bottom of the screen. I would call this a corrective wave/pull back.
1. put on TL like you see
2. wait for close on other side of it
3. play a thrust bar which we had
4. Move all remaining trades to the top of the last wave
5. hope for another big drop

a little 10 drop move, hope I would have gotten 2 or 3 out of it

would have played the next two or three run up like I did the last. This one would probally have taken out all my SL.

Edit: sorry, you will have to enlarge the pic to see all the lines
Attached Image (click to enlarge)
Click to Enlarge Name: sample chart 5.gif Size: 41 KB
A woman drove me to drink, and I forgot to thank her
  • #3,299
  • Dec 9, 2010 1:55pm Dec 9, 2010 1:55pm
I've traded this system for a week now between the hours of 7:30 a.m.
to 9:30 a.m. mountain standard time (9:30 a.m. to 11:30 a.m. NY time)
Eu/Usd.

I've been making between $20.00 and $30.00 a day with very low risk,
trading 1 contract. In those two hours. Or $150.00 a week, $400.00
per month.

I think if someone figured out a compounding table (the magic of compounding) this system would work very profitably.

For example:

1). Month 1, Bank $1,000. , Per month $400. , Per day 30. , Total 1,400.
2). Month 2, Bank $1,400. , Per month $400. ,Per day 30. , Total 1,800

and just compound it out...of course you have taxes to worry about.
But this just might be and probably is the system to get rich with or at
least profitable with.

In your opinion is this the system we should concentrate on and
learn like the back of our hand to take us into the future of the
promise land?

Thanks

snarlyjack
  • #3,300
  • Dec 9, 2010 2:22pm Dec 9, 2010 2:22pm
to 9:30 a.m. mountain standard time (9:30 a.m. to 11:30 a.m. NY time)
Eu/Usd.

But this just might be and probably is the system to get rich with or at
least profitable with.

In your opinion is this the system we should concentrate on and
learn like the back of our hand to take us into the future of the
promise land?

Thanks

snarlyjack[/quote]

1. Those are good times to trade, you can normally find at least one really good set up during that time frame

2. yes, I think this is what you need to learn, and learn it like the back of your hand. It will become your tool belt! Over time you will just add some tools here and there.

3. Yes, this is a thread that can help you get rich

4. I worry when I hear about people talking about getting rich

5. You are talking like someone who is greedy. Fear and greed will clean your account out quicker than you can make it. In Jedi speak: Fear leads to the dark side young padawan learner! Don't take that personal, you sound like someone who is very excited about this and I can totally understand why you are. I'm just speaking from personal experience in life and what I have watched. remember this is also like poker, more emotional you, the more likely you are to give your money away to someone that can keep it in check and play the odds.

“Fear is the path to the dark side. Fear leads to anger. Anger leads to hate. Hate leads to suffering.” Yoda

And

"Once you start down the dark path, forever will it dominate your destiny, consume you it will."
-- Yoda

I look forward to seeing you posting some charts in the thread also, be nice to see more activity again.

Simple
A woman drove me to drink, and I forgot to thank her
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