5-min PASS (Price Action Scalper System) | Page 23 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

DSS Scalper forex System 2 replies

5-min PASS (Price Action Scalper System) SIGNAL 11 replies

15 min indicator on 5 min chart 3 replies

$ 2.4 Billion Scalper System 13 replies

Need a good Metatrader broker for a scalper system 14 replies

Attachments: 5-min PASS (Price Action Scalper System)
Exit Attachments

5-min PASS (Price Action Scalper System)

  • #441
  • Feb 22, 2011 9:18am Feb 22, 2011 9:18am
I have exited GU +7pips
  • #442
  • Feb 22, 2011 9:23am Feb 22, 2011 9:23am
Possible audusd sell?
  • #443
  • Feb 22, 2011 9:27am Feb 22, 2011 9:27am
Quoting emi
Possible audusd sell?
yes sir
  • #444
  • Feb 22, 2011 9:32am Feb 22, 2011 9:32am
wait till break of upfractal
  • #445
  • Feb 22, 2011 9:38am Feb 22, 2011 9:38am
Just got in this one long.

Pureprice, was this a valid trade for your system?

Attached Image (click to enlarge)
Click to Enlarge Name: chart-1.gif Size: 18 KB
"Be the change that you wish to see in the world." --Gandhi
  • #446
  • Feb 22, 2011 9:45am Feb 22, 2011 9:45am
Sell usdjpy at 83.05
  • #447
  • Feb 22, 2011 9:50am Feb 22, 2011 9:50am
Quoting emi
Sell usdjpy at 83.05
esit uj at s2
  • #448
  • Feb 22, 2011 10:30am Feb 22, 2011 10:30am
I apologize for not keeping up wit al the posts. I work 9 to 5:30 NY time, and sometimes it is too busy at work I can't answer all posts, or update the trades in real-time.
  • #449
  • Feb 22, 2011 10:36am Feb 22, 2011 10:36am
False breakout and hit my stoploss. I got in too early, should have let it prove itself first. Anyways, now looking for a possible short, but it's getting close to noon EST, so it may not happen for me.
"Be the change that you wish to see in the world." --Gandhi
  • #450
  • Feb 22, 2011 10:41am Feb 22, 2011 10:41am
Quoting Altaria
What if someone programmed an alert of a sort? Wouldn't that be helpful? Not an EA, but an alert so that, with many pairs to watch, you wouldn't miss good trades?

There is an Alert EA, in my first post
  • #451
  • Feb 22, 2011 10:44am Feb 22, 2011 10:44am
Quoting Wally1953
False breakout and hit my stoploss. I got in too early, should have let it prove itself first. Anyways, now looking for a possible short, but it's getting close to noon EST, so it may not happen for me.

Wally,

This trade actually worked out perfectly. If I were tading this setup I would have taken some profit at the daily PP and moved SL to BE. WHY?? because the levels drawn by AFST indicator are IMPORTANT to watch .. that is why we have them on the chart. They are levels at which price might likely react, and in this case it reacted against your position. Please be aware of these levels when you trade .. please go back and review post #340-#345

Take this one in stride and move on .. glad you had a SL in place though
  • #452
  • Edited 4:09pm Feb 22, 2011 3:37pm | Edited 4:09pm
Now that almost everyone is familiar with the basic system rules, I've decided to step it up a little and make it a bit more complicated, in hopes that these tips will help out with entry.

Use of RSI(4)
This indicator can be used to confirm the breakout of the support/resistance level represented by the downfractal/upfractal as outlined in the system rules. If we are about to breakout, I would like to see the RSI(4) indicator heading down and at or below 30 for a bearish breakout, and heading up and at or greater than 70 for a bullish breakout.

Use of Multiframes
You may wish to check the 15 min and H1 timeframes to see that all your EMAs are in the same direction as your inteneded position. i.e. if you are about to enter short, you want to check that the EMAs are lined up such that EMA(6) < EMA(12) < EMA(48). For a bullish position, check higher timeframes to make sure that EMA(6) > EMA(12) > EMA(48).
  • #453
  • Edited 6:05pm Feb 22, 2011 5:52pm | Edited 6:05pm
First, thanks a lot for your work!

I have a LOT OF LOSER trades... I tested your system, and trade with the rules... I don't know why, but I see a lot of loser trades. The fractal, is nearly always late... and the price is hit the SL.
Develop the old ways! Backtest with 25% quality... JOKE!
  • #454
  • Feb 22, 2011 6:38pm Feb 22, 2011 6:38pm
I am in this EURGBPtrade.
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 34 KB
With God all things are possible.
  • #455
  • Feb 22, 2011 7:21pm Feb 22, 2011 7:21pm
This one sure made a u turn on me but I was able to BE +1 pip
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 35 KB
With God all things are possible.
  • #456
  • Feb 22, 2011 10:16pm Feb 22, 2011 10:16pm
http://i.cubeupload.com/QHNDI1.jpg

Ur system is work. I've modified it lilte and combine with my scalping sytem.. Thanks Pp.
1M & 5M scalper. 1Malaysia..
  • #457
  • Feb 22, 2011 10:18pm Feb 22, 2011 10:18pm
Attached Image
1M & 5M scalper. 1Malaysia..
  • #458
  • Feb 22, 2011 10:26pm Feb 22, 2011 10:26pm
How is this for a set up? Pretty good I reckon!

Hey PP, the RSI(4) is that on the close, open, other?

I am using Median Price for now, thanks
Attached Image (click to enlarge)
Click to Enlarge Name: perfect.gif Size: 51 KB
Canadian by birth Australian by choice
  • #459
  • Feb 22, 2011 11:33pm Feb 22, 2011 11:33pm
Quoting PurePrice
Now that almost everyone is familiar with the basic system rules, I've decided to step it up a little and make it a bit more complicated, in hopes that these tips will help out with entry.

Use of RSI(4)
This indicator can be used to confirm the breakout of the support/resistance level represented by the downfractal/upfractal as outlined in the system rules. If we are about to breakout, I would like to see the RSI(4) indicator heading down and at or below 30 for a bearish breakout, and heading up and at or...
Thanks for the above detail.....I am unable to make the 5/2 pip indicator to work ....can you please let me know how to make it work when u have the time....thanks in advance

Best regards
Raza
  • #460
  • Feb 23, 2011 2:17am Feb 23, 2011 2:17am
Hi PP and Other Member,
Thanks for sharing this system. I like this system for it's clear rules and setup.
Since this is mainly focus on 5 Min, there might be times we missed out on the 1st move. Under this circumstances, do you have any idea of how we should enter into a trade assuming it is still in the same direction as the initial move earlier.
Road to financial freedom
0 traders viewing now