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5-min PASS (Price Action Scalper System)

  • #1,381
  • Mar 21, 2011 8:44am Mar 21, 2011 8:44am
Quoting Pmg.g
Hi guys, any system isn´t perfect... but I´m always trying to make the strategies I´m using better. So I end up with this indi.. It´s MA based and I´m using it to determine trend and to avoid bad entries. Use is simple... Just look if the MAs are turned up/down for opening your trades...Do not trade counter trend!

In attached picture I´ve marked the fractal which I would normaly use for short entry, but if you look at Trender, you can see its pointing up...so [color=red][b]Do not trade...

Thank you Jakub.

I think if you were to chaeck the higher time frames they would kee you out of a short trade anyway. But, if you find this additional indicator useful, be my guest
  • #1,382
  • Mar 21, 2011 8:45am Mar 21, 2011 8:45am
Quoting kedridder
PP, how do u draw the trendline? join the lower fractals?

for the most part, yes, I use fractals to draw the TL. But sometimes I just look at the candles themselves
  • #1,383
  • Mar 21, 2011 8:47am Mar 21, 2011 8:47am
Quoting millenseed
I just noticed, this system shares many common characteristics with Bill Williams' Profitunity system. Has anyone used that one? Anyway, it seems like a great system, its weakness being sometimes the Stop Loss rule, because there are many cases where you have to set a very distant stop loss (~30-35 pips) in hopes of winning 20-25.
What do you guys think? Also, I think the very large-bodied candles that coincide with the post-divergence point of the ema's should not be playable.

Sorry, not familiar with that system at all. The SL is a moving SL, and not very rigid, so even though you start at 30 pips SL, you can move it tighter as the trade develops.
  • #1,384
  • Mar 21, 2011 8:51am Mar 21, 2011 8:51am
We have mr Trichet speaking in 10 minutes or so and that will for sure rock the EUR.

There is also existing homes sales number out of USA at the same time.
  • #1,385
  • Mar 21, 2011 8:51am Mar 21, 2011 8:51am
Quoting PurePrice
for the most part, yes, I use fractals to draw the TL. But sometimes I just look at the candles themselves

currently, are there any at the moment, that you can show me and others who uses your system?
  • #1,386
  • Mar 21, 2011 8:52am Mar 21, 2011 8:52am
according to the charts, daily through M15, eur/usd looks bullish. If Mr. Trichet's speech helps the EUR, we can see a nice EUR rally n a few minutes
  • #1,387
  • Mar 21, 2011 8:59am Mar 21, 2011 8:59am
Quoting kedridder
currently, are there any at the moment, that you can show me and others who uses your system?

will have to get back to you on this after the speech .. currently watch the market
  • #1,388
  • Mar 21, 2011 9:01am Mar 21, 2011 9:01am
Quoting PurePrice
will have to get back to you on this after the speech .. currently watch the market

ok, no problem. take your time.
  • #1,389
  • Mar 21, 2011 9:14am Mar 21, 2011 9:14am
Quoting PurePrice
according to the charts, daily through M15, eur/usd looks bullish. If Mr. Trichet's speech helps the EUR, we can see a nice EUR rally n a few minutes

I am in Long at 1.4170, target 14270
  • #1,390
  • Mar 21, 2011 9:16am Mar 21, 2011 9:16am
well.. i had a nice little profit position on eur$.. but trichet destroyed it.

Lesson: check out the calender before entering a trade.
  • #1,391
  • Mar 21, 2011 9:17am Mar 21, 2011 9:17am
Quoting PurePrice
I am in Long at 1.4170, target 14270

thru early entry?
  • #1,392
  • Mar 21, 2011 9:26am Mar 21, 2011 9:26am
Quoting kedridder
thru early entry?

nope ... lol

Just cause the eur started heading up after the news.
  • #1,393
  • Mar 21, 2011 9:29am Mar 21, 2011 9:29am
Quoting PurePrice
nope ... lol

Just cause the eur started heading up after the news.

oh, means not using e PASS system. alrite, got it!
  • #1,394
  • Mar 21, 2011 9:34am Mar 21, 2011 9:34am
Quoting PurePrice
nope ... lol

Just cause the eur started heading up after the news.

Not as much movement as I was hoping for out of the Trichet speech.
  • #1,395
  • Mar 21, 2011 9:37am Mar 21, 2011 9:37am
Quoting kedridder
oh, means not using e PASS system. alrite, got it!

yeps, looks like the 14200 round figure rejected the price down a bit, as expected of a round number, but I have a feeling this wil go through the 14200 soon as all timeframes are pointing higher
  • #1,396
  • Mar 21, 2011 9:39am Mar 21, 2011 9:39am
Quoting PurePrice
yeps, looks like the 14200 round figure rejected the price down a bit, as expected of a round number, but I have a feeling this wil go through the 14200 soon as all timeframes are pointing higher

If above 1.4200, this will be a PASS entry LONG as we have a couple fractals around the round figure already formed
  • #1,397
  • Mar 21, 2011 9:40am Mar 21, 2011 9:40am
Quoting FelixFX
PP can you please tell how long you trade this system and how succsseful?

I think you need to test the sysem for yourself and decide whether it is something that you are happy with or not. no two traers trade the same. So, please spend sometime with the ystem and practice it yourself prior to deciding if it is for you.
  • #1,398
  • Mar 21, 2011 9:53am Mar 21, 2011 9:53am
hi pure

did u trade the setup in eur$ btwn 7-8am ?
  • #1,399
  • Mar 21, 2011 9:53am Mar 21, 2011 9:53am
Quoting PurePrice
I am in Long at 1.4170, target 14270

Out at BE
  • #1,400
  • Mar 21, 2011 9:55am Mar 21, 2011 9:55am
Quoting newjv
hi pure

did u trade the setup in eur$ btwn 7-8am ?

no I did not .. but that would have been good setup for a bout 30 pips . But Trichet took back from you I see
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