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The Force 5min system

  • #3,321
  • Dec 16, 2010 7:47am Dec 16, 2010 7:47am
Quoting FxZenith
Well Rufus, i guess i am really lucky that one of the old users of F5 is around to give us pointers. This is a pure price action system and experience counts.

Anyway, the problem that i am facing is how do we ride a trending market when there is a trend. I have being scalping 10 or 20 pips at one go for now. Being wondering how do we profit from a big move like the one on Monday.

Anyway bro, look on the bright side X'mas is just around the corner.
Hey Fx.

I am headed out to work.

I will answer that when I return. But we can catch them.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,322
  • Dec 16, 2010 8:16am Dec 16, 2010 8:16am
hi guys!

is this a good entry? or should i only trade in the direction for the trend?
Attached Image
passion and discipline
  • #3,323
  • Dec 16, 2010 8:37am Dec 16, 2010 8:37am
Quoting rohule
hi guys!

is this a good entry? or should i only trade in the direction for the trend?
rohule,

Nice trade, it does line up with all the Basic requirements for a trade. I'm also very glad that you noticed it was not with the trend and the inherent risks associated with being a counter trend cowboy.

1. I would not advise anyone new or still learning forex to trade counter trend
2. if you do trade counter trend, please be very aggressive with profit taking and moving SL to BE
3. I like this trade!

You notice you had a nice hard push down. then at the bottom 5 bars before your marked bar you see some buying pressure coming into the market.

next bar is a indecision bar with a basis of long

Next bar takes it right up to the 5s showing selling pressure at the end
next bar down with buying pressure
next bard down with good buying pressure at the end
next bar tries to go down and then is pushed back up with much stronger buying pressure breaking the high of the previous 2 down bars.

This is how I view trading on the smaller time frames. I view it as a battle of supply and demand trying to figure out which side is throwing more soliders at the battle at that time to win the battle and gain momentum.

I would have considered entering at the thrust point on that bar (more toward expert level) or at the open of the next bar in +1 in my direction. VERY tight SL, no more than 5 pips and ready to move up ASAP.

Remember, I'm VERY aggressive with the moving of my SL, it meets my style and I miss out of some good trades because of it but I will accept that for limiting my losses to the level that I do.

Hope that helps?
A woman drove me to drink, and I forgot to thank her
  • #3,324
  • Dec 16, 2010 9:13am Dec 16, 2010 9:13am
Quoting simpleguy
rohule,

Nice trade, it does line up with all the Basic requirements for a trade. I'm also very glad that you noticed it was not with the trend and the inherent risks associated with being a counter trend cowboy.

1. I would not advise anyone new or still learning forex to trade counter trend
2. if you do trade counter trend, please be very aggressive with profit taking and moving SL to BE
3. I like this trade!

You notice you had a nice hard push down. then at the bottom 5 bars before your marked bar you see some buying pressure coming into...
thank you Simpleguy!

i dond like to much doing counter trend, i only trade that if i see some good s/r, engulfing, pin bar, doble buttom or w patter. and thank you that helps a lot.

have a good one1
passion and discipline
  • #3,325
  • Dec 16, 2010 10:12am Dec 16, 2010 10:12am
another good one!
this was with the trend, engulfing candle all force rules met
Attached Image
passion and discipline
  • #3,326
  • Dec 16, 2010 5:36pm Dec 16, 2010 5:36pm
Quoting FxZenith
Well Rufus, i guess i am really lucky that one of the old users of F5 is around to give us pointers. This is a pure price action system and experience counts.

Anyway, the problem that i am facing is how do we ride a trending market when there is a trend. I have being scalping 10 or 20 pips at one go for now. Being wondering how do we profit from a big move like the one on Monday.

Anyway bro, look on the bright side X'mas is just around the corner.
Hi Fx

I am home from work and missed my nice entry with tokyo open by 45 minutes. I almost stoped in town and set up my laptop to look for a position. I should have...Oh well.

Now to your question.

When I take a position in the market I will usualy break it up in four parts. Still keeping my 1% or less risk. So back to the four parts.

So on the MT4 platform I am pressing the buy or sell 4 times. This is how I divide it up. Lets say 1% of my account is $40. With a 20 pip stop I can have 2 mini lots.

I divide my four parts like this.

1 mini lot
.33 ---- .33---- .33---- This equals my 2 mini lot risk. It takes extra time to get the order in but you can do it quite fast. This is why on most of the charts I post you will see the buy/sell line quite thick.

Now for exits

The big part I set a target for either 10 or 20 pips depending on how the market is moving and what problem areas price may be running into.

The next three parts I will set targets as well.... 20 pips, 40 pips, 150 pips etc. Also depending on the charts S/D etc. When price gets to 20 or 30 pips profit set stoploss to BE. Then I often times just turn the charts off and let it cook. If you feal you have to manage the positions what I do is go to a 15m chart and move my stops to 5 -7 pips above or below each swing high or low.

The thing to remember is that once you are at BE you can't lose. so let it ride and milk every pip out of it.

If you get a big runner you could then start managing it on 1h chart.

even a very small piece going 100 - 1000 pips adds up quickly. Just let it cook.

Hopefully this answers your question. If you have more ask away.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,327
  • Dec 16, 2010 11:33pm Dec 16, 2010 11:33pm
Thanks Rufus for the insights =)
Will try to do it but i am basically trading 1 standard lot now its tough to eye ball the market hopefully i can become a profitable force apprentice soon.

This is a trade which i did today

Waited for the reversal at the top of the trendline to do a short when the signals are aligned bagged 13 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 0002.gif Size: 26 KB
  • #3,328
  • Dec 17, 2010 3:12am Dec 17, 2010 3:12am
Quoting rohule
another good one!
this was with the trend, engulfing candle all force rules met
Hi rohule i saw the news indicator which you have on your chart. May i know where can i get it? thanks in advance
  • #3,329
  • Dec 17, 2010 3:19am Dec 17, 2010 3:19am
here you go friend!
Attached File(s)
File Type: mq4 THV3 FFCal.mq4   47 KB | 397 downloads
passion and discipline
  • #3,330
  • Dec 17, 2010 3:47am Dec 17, 2010 3:47am
Quoting rohule
here you go friend!
Thanks alot man
  • #3,331
  • Dec 17, 2010 10:04pm Dec 17, 2010 10:04pm
Finished! 222 pages, what a journey guys!

Have been forward demo testing for a couple of weeks now using the advanced version and it all makes so much sense. PA and appropriate bounces, it works.

Prior to this I have been trading live with a small account for a couple of years, doing the apprenticeship with a myriad of systems and methods including my own, the usual story, but fortunately I haven't come close to blowing the account.

I'm using a 10 pip SL as opposed to 20, taking closing half the position at 10 pips (including spread) after a one pip buffer, moving the remainder to BE and shooting for 20 (depending on resistance location).

I'm from Oz so I trade from Frankfurt open to London lunch which produces about 2 or 3 valid trades.

I won't be trading this live until the start of the second week in Jan, due weaker volume around the Xmas/New year period.

Cheers to all,

Pete
  • #3,332
  • Dec 17, 2010 10:55pm Dec 17, 2010 10:55pm
Quoting pedross
Finished! 222 pages, what a journey guys!

Have been forward demo testing for a couple of weeks now using the advanced version and it all makes so much sense. PA and appropriate bounces, it works.

Prior to this I have been trading live with a small account for a couple of years, doing the apprenticeship with a myriad of systems and methods including my own, the usual story, but fortunately I haven't come close to blowing the account.

I'm using a 10 pip SL as opposed to 20, taking closing half the position at 10 pips (including spread) after...
Welcome and congratulations.

Any questions just ask away. Someone will have the answer or at least know where to find it.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,333
  • Dec 18, 2010 12:15am Dec 18, 2010 12:15am
Hi

this is my first post and i hope the moderator will permit to be posted.
I was experimenting a lot with different indis and observing how the price-line behaves my conclusions are as follows:

1. trending really starts when there is breakout
a. here one have to be careful of pullbacks
2. after sometime starts the oversold or overbought region
a. these regions are the place where the market is not trending but ranging. (this does not happen all the time). here it is difficult to see which direction the price-line will take

so all we need is to recognize the start of breakouts and in my opinion any trading system can be very successful only because of this.

I made, purely on observational and not mathematical ground an indicator that can show breakouts and the directions of the trend even at ranging times. you could also add a MACD to the chart or anything else.

I will mentions only 2 rules
1. trade 5 minutes or above
2. it might be smart not to trade when price is withing the kumo cloud and the lines of the alligator are too close or even intermingled.

the breakouts are starting when in stochastic the red and blue line go above or below yellow line; and when the price-line goes above or below the yellow alligator line.

I don't say the indicator is perfect, it could be certainly optimized.

so this would be my suggestion to improve your trading and please give some comments.

bodisatva
Attached File(s)
File Type: tpl 0 0 kumo alig.tpl   2 KB | 385 downloads
- May Buddha bless you.
  • #3,334
  • Dec 18, 2010 8:40am Dec 18, 2010 8:40am
Quoting bodisatva
Hi

this is my first post and i hope the moderator will permit to be posted.
I was experimenting a lot with different indis and observing how the price-line behaves my conclusions are as follows:

1. trending really starts when there is breakout
a. here one have to be careful of pullbacks
2. after sometime starts the oversold or overbought region
a. these regions are the place where the market is not trending but ranging. (this does not happen all the time). here it is difficult to see which direction the price-line will take

so all we need...
Hi Bodisatva

Your observations here are correct. Also the purpose of any trading system or style is to get the positions set There as well.

If you want to discuss a new trading system however you should just start your own thread with it. This thread is for the F5 only and if we start discussing other systems it will get confusing to say the least. The moderator for this thread drops in once in a while now to see whats up so no one is going to "kick" you off. But just for the sake of clarity and simplicity it is best to focus on one system.

I did look at your template and it looks promising. Properly used I am sure it would produce pips.

Trade safe, and happy New Year

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,335
  • Dec 18, 2010 11:03am Dec 18, 2010 11:03am
Quoting bodisatva
Hi

this is my first post and i hope the moderator will permit to be posted.
I was experimenting a lot with different indis and observing how the price-line behaves my conclusions are as follows:

1. trending really starts when there is breakout...
welcome bodisatva. the template looks like it has potential but what are the actually profit target, stops and entry for this system?
  • #3,336
  • Dec 21, 2010 5:37am Dec 21, 2010 5:37am
I hope everyone here enjoys the holidays. I have not traded this week at all and will not be starting back up till the first Monday of the new year. over the next 2 weeks I'm working on my trading plan and also working on keeping the wife happy! I've found the happier my wife is, the easier it to trade.

So take care of yourself, your family, your friends, and your capital!

MERRY CHRISTMAS!
A woman drove me to drink, and I forgot to thank her
  • #3,337
  • Dec 21, 2010 11:59am Dec 21, 2010 11:59am
Hi Simple

Doing the same on my end of the country. I think we need an indicator that flashes up on the charts when spouses need taking care of. For me usually I am behind the curve on that matter, and I have been married 21 years. If I remember right you have been recently married. Bit more work for you.....(I think)

I've found the happier my wife is, the easier it to trade.

DITTO


Updating my trading plan as well. I have a lot of great epectations for the year ahead. I will be kicking it into gear around the 9th as well.

Everyone have a great holiday season and a prosperous new year.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,338
  • Dec 21, 2010 10:19pm Dec 21, 2010 10:19pm
Quoting Rufus
Hi Simple

Doing the same on my end of the country....
lol Rufus we do not need indicator for our spouse. Just use the force it will tell you what to do.

I will be reevaluating my trading plan to.

Hope every 1 have a whooping pippage year in 2011!!!
  • #3,339
  • Dec 28, 2010 10:34am Dec 28, 2010 10:34am
Hope everyone enjoyed the time off, now it's time to get back to work. i will be starting up my trading tomorrow during the beginning of the NY session into the mid afternoon. I have spent a lot of time working on my trading plan and looking over my numbers from last year to see what I need to work on to reduce my risk.

Goals for 2011
1. Reduce risk and bad trades

Just as one good trade will make your day one bad trade can kill a day. I've found that on my bad days I made a mistake that made a horrible trade. The good part is that ALMOST every single bad trade made was MY mistake. So that means it is a correctable issue.

I'm also looking to enter trades at a lower SL so I can reduce my risks immediately, if I don't get the momentum I'm looking for I'm out of there at BE+ if I can.

2. Reduce my first TP from 10 pips to 6.

I have noticed over the past six months I've had a VERY large proportion of my trades that got to BE+7 , 8, or 9 and then came all the way back. it never hit my point of taking half off. So I ran the numbers and I determined that BE+6 in this market will increase my profits. I started to do it in December this year and it helped out a lot.

3. Get my hit rate of BE or better up to 70%

don't know if I can do this, but what a great goal? something to work towards.
A woman drove me to drink, and I forgot to thank her
  • #3,340
  • Dec 28, 2010 6:02pm Dec 28, 2010 6:02pm
Quoting simpleguy
Hope everyone enjoyed the time off, now it's time to get back to work. i will be starting up my trading tomorrow during the beginning of the NY session into the mid afternoon. I have spent a lot of time working on my trading plan and looking over my numbers from last year to see what I need to work on to reduce my risk.

Goals for 2011
1. Reduce risk and bad trades

Just as one good trade will make your day one bad trade can kill a day. I've found that on my bad days I made a mistake that made a horrible trade. The good...
Hi Simple

I have noticed over the past six months I've had a VERY large proportion of my trades that got to BE+7 , 8, or 9 and then came all the way back

This could be a good move. In all reality 3-4 pips less is not all that much. But it can mean a lot if price retraces all the way back to -20 pips if 10 did not get hit.

Somewhere in this thread I posted another idea I had, that I have since modified a bit. Most trades take off right away, the momentum is there for it to run.

From my trading plan...

Count the bar I enter on.
In the money 4 bars or close position.
At least10 pips profit in 6 bars or close position.
At least 20 pips profit in 8 bars or move stop to entry price.
Or least 20 pips profit in 8 bars close position, or leave small portion set with stop at entry price, if in a profit.

Anyway I am looking forward to fresh markets after the first of the year.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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