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5-min PASS (Price Action Scalper System)

  • #1,421
  • Mar 21, 2011 11:28am Mar 21, 2011 11:28am
Quoting newjv
bought?

in and out already for +20
  • #1,422
  • Mar 21, 2011 11:31am Mar 21, 2011 11:31am
Quoting PurePrice
in and out already for +20
dayoom.. that was fast..

Question: why 20p? why didnt u hold for more?
  • #1,423
  • Mar 21, 2011 11:33am Mar 21, 2011 11:33am
Hello everyone,
it's nice to be back in the action after a long weekend of work. I hope evryone did well last week and doing well today. There were some nice opportunities today and lastly the long trade in EU which just made me reach the 2% daily target (actually I closed with +2.06%).
Hope there's more pips for everyone to take

Cheers,
akrasiel
  • #1,424
  • Mar 21, 2011 11:34am Mar 21, 2011 11:34am
Quoting newjv
dayoom.. that was fast..

Question: why 20p? why didnt u hold for more?
Cuz it is getting late in NY, and you are near the highs of November on daily chart (see below) ... also I had two trades this morning that got stopped at BE without me cashing in on 30 pips ... so I am frustrated with not taking any profits off the table so in this case I did

also GPBUSD is nearing its resistance level of 16290-16300 whih will pull the gbpusd pair down and with it will likely pull eurusd down to
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 38 KB
  • #1,425
  • Mar 21, 2011 11:36am Mar 21, 2011 11:36am
Quoting PurePrice
Cuz it is getting late in NY, and you are near the highs of November on daily chart (see below) ... also I had two trades this morning that got stopped at BE without me cashing in on 30 pips ... so I am frustrated with not taking any profits off the table so in this case I did

also GPBUSD is nearing its resistance level of 16290-16300 whih will pull the gbpusd pair down and with it will likely pull eurusd down to
There is no more news out today and we may have no momentum anymore to pull the pair up further ... It wil likely just sit and meander for the rest of the day if it doesnot drop.. but of course I have been wrong many times before and I could be wrong here too
  • #1,426
  • Mar 21, 2011 11:40am Mar 21, 2011 11:40am
Quoting PurePrice
There is no more news out today and we may have no momentum anymore to pull the pair up further ... It wil likely just sit and meander for the rest of the day if it doesnot drop.. but of course I have been wrong many times before and I could be wrong here too
One more thing .. we are SCALP trading, so we want to be in and out for quick 20 pips fast. That give me my 2% for the day additionally, remeber we are trading quick momentum trades, so if it happens in one minute, take it and be happy .. also the eurusd in that move, moved about 30 pips in a flash, it usually doesnot move much more than that withut retracing some of the move, unless there is news.
  • #1,427
  • Mar 21, 2011 11:44am Mar 21, 2011 11:44am
looks like the downtrend mini channel is holding strong still
  • #1,428
  • Mar 21, 2011 11:44am Mar 21, 2011 11:44am
Quoting newjv
dayoom.. that was fast..

Question: why 20p? why didnt u hold for more?

newjv, please read the rules in #1 post.
[Take Profit TP1 = SL, TP2 = 2 x SL, TP3 = ATR with Trailing stop last fractal]
unless u amend e rules, the number of PIPs for TP, is the same as number of PIPs for SL.

look at where PP enters his trade. from there, look at where the SL is. then u can derive the TP from there
  • #1,429
  • Mar 21, 2011 11:48am Mar 21, 2011 11:48am
Quoting kedridder
newjv, please read the rules in #1 post.
[Take Profit TP1 = SL, TP2 = 2 x SL, TP3 = ATR with Trailing stop last fractal]
unless u amend e rules, the number of PIPs for TP, is the same as number of PIPs for SL.

look at where PP enters his trade. from there, look at where the SL is. then u can derive the TP from there

Thanks Kedridder.

SL was about 15 pips for me on that last eurusd trade..
  • #1,430
  • Mar 21, 2011 11:54am Mar 21, 2011 11:54am
Quoting PurePrice
Thanks Kedridder.

SL was about 15 pips for me on that last eurusd trade..

you're welcome.
since u got 20 PIPs in your pocket, it means u have 5 bonus PIPs there! congrads.

  • #1,431
  • Mar 21, 2011 11:55am Mar 21, 2011 11:55am
Hi PP
I know you are at work and I am at work too..
how you manage to take these fast trade...
are you looking at the charts all time or when you get the alert for pass_EMA-Conv you look at the charts ..... it's hard at work t keep looking at charts ...
if you use something let know thanks

bally
  • #1,432
  • Mar 21, 2011 12:04pm Mar 21, 2011 12:04pm
Quoting desiboy
Hi PP
I know you are at work and I am at work too..
how you manage to take these fast trade...
are you looking at the charts all time or when you get the alert for pass_EMA-Conv you look at the charts ..... it's hard at work t keep looking at charts ...
if you use something let know thanks

bally

I dont use anythign else...I just look at my charts ... I think if you concentrate on one or two pairs that will do the trick .. I like gbpusd, eurusd and eurchf. My work invloves being online and using email all day so it is not that bad if no-one lese is watching me .. some days I am so busy I can't even look at charts, but today is not too bad
  • #1,433
  • Mar 21, 2011 12:06pm Mar 21, 2011 12:06pm
talk to you all later
  • #1,434
  • Mar 21, 2011 12:55pm Mar 21, 2011 12:55pm
We may probably get a nice explosive movement once this channel is broken. I'll keep an eye on it just in case...
Attached Image (click to enlarge)
Click to Enlarge Name: AU channel.PNG Size: 15 KB
  • #1,435
  • Mar 21, 2011 1:04pm Mar 21, 2011 1:04pm
Quoting akrasiel
We may probably get a nice explosive movement once this channel is broken. I'll keep an eye on it just in case...
Please do so, I am sure we will see some nice movement once this channel is broken decisively. It would be best if it broke to the upper side as that is the currrent trend. but it is getting late, and we may have to wait for Sydney or Tokyo to get this one moving nicely.
  • #1,436
  • Mar 21, 2011 1:04pm Mar 21, 2011 1:04pm
Quoting PurePrice
One more thing .. we are SCALP trading, so we want to be in and out for quick 20 pips fast. That give me my 2% for the day additionally, remeber we are trading quick momentum trades, so if it happens in one minute, take it and be happy .. also the eurusd in that move, moved about 30 pips in a flash, it usually doesnot move much more than that withut retracing some of the move, unless there is news.
hey..14% is wonderful. how long r u going to continue paper-trading? and where did u find this $500 account?
  • #1,437
  • Mar 21, 2011 1:08pm Mar 21, 2011 1:08pm
Quoting newjv
hey..14% is wonderful. how long r u going to continue paper-trading? and where did u find this $500 account?

This is a live account, and I am with OANDA
  • #1,438
  • Mar 21, 2011 1:09pm Mar 21, 2011 1:09pm
Quoting PurePrice
Please do so, I am sure we will see some nice movement once this channel is broken decisively. It would be best if it broke to the upper side as that is the currrent trend. but it is getting late, and we may have to wait for Sydney or Tokyo to get this one moving nicely.
Indeed, I'm also looking for an upside breakout. Not sure if I will still be watching by the beginning of Tokio or Sydney, it will be sleeptime for me. I hope we can see some good price action earlier.
  • #1,439
  • Mar 21, 2011 1:11pm Mar 21, 2011 1:11pm
Quoting akrasiel
We may probably get a nice explosive movement once this channel is broken. I'll keep an eye on it just in case...
do u know the methodology of that multi-time-frame trend thingy on ur chart?
  • #1,440
  • Mar 21, 2011 1:24pm Mar 21, 2011 1:24pm
Quoting PurePrice
This is a live account, and I am with OANDA
Oanda? thy hav their own platform.. isn't. or u still use mt4? also.. what kind of lot size and leverage?
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