5-min PASS (Price Action Scalper System) | Page 105 | 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)

  • #2,081
  • Apr 5, 2011 2:08pm Apr 5, 2011 2:08pm
Quoting Anu_
Good stuff. In my case, I have been doing this about 3 yrs but as a part timer only. At work you can't do it properly and you have no freedom to do a proper job on analysis. This week I am off so doing it full time as a test run too.

I am too following PA S/R levels including Monthly/Weekly and Daily piviot points . Keep STO and MACD too just to get an idea about the overbought/oversold status. I believe in diveregnce too. When buying dips and selling rallies always wait for a Swing Point too.. ohh.. my god .. looks like I am waiting...

You are over analysing for 5-min trades. You may be experiencing "paralysis by over analysis", we need to keep it simple. I do this part time as well, so I am not a good performance benchmark. that is why I am sharing this systems with others, especially ones in London zone becuase I know this system can do wonders in London session for someone who can actually watch the charts closely during that session. I am in NY zone and I do have a 9 to 5 job.
  • #2,082
  • Apr 5, 2011 2:19pm Apr 5, 2011 2:19pm
Quoting PurePrice
You are over analysing for 5-min trades. You may be experiencing "paralysis by over analysis", we need to keep it simple. I do this part time as well, so I am not a good performance benchmark. that is why I am sharing this systems with others, especially one sin Londond zone becuase I know this system can do wonders in Londod session for someone who can actually watch the charts closely during that session. I am in NY zone and I do have a 9 to 5 job.
Yes, You are right! I seem to get many conflicting signals from my indis. This morning I saw the eur/gbp short trade but was worried about a S/R level below so did not take it. Eventually it resulted in about 70-80 pips.

Also, I closely looked at this morning GBP news items at 9.30GMT. Actually, M1 candle at 9.28 moved the price by 40 pips almost the full move to upside. So, by the time I saw it in forexfactory.com at 9.30 mkt has already moved by 50 pips. Big dogs seem to get the news 2 mins before us. I suppose there is nothing we can do on that delay ...
  • #2,083
  • Apr 5, 2011 2:37pm Apr 5, 2011 2:37pm
Quoting Anu_
Yes, You are right! I seem to get many conflicting signals from my indis. This morning I saw the eur/gbp short trade but was worried about a S/R level below so did not take it. Eventually it resulted in about 70-80 pips.

Also, I closely looked at this morning GBP news items at 9.30GMT. Actually, M1 candle at 9.28 moved the price by 40 pips almost the full move to upside. So, by the time I saw it in forexfactory.com at 9.30 mkt has already moved by 50 pips. Big dogs seem to get the news 2 mins before us. I suppose there is nothing we can do on...
Yeah, I understand. Just never chase the trade .. if you missed the first entry, stay out and you may get a retrace and chance for a re-entry later on in the day.
  • #2,084
  • Apr 5, 2011 2:38pm Apr 5, 2011 2:38pm
if it was not so late in the day, I would look at re-entering long about now as everything is in order for a re-entry long .
  • #2,085
  • Apr 5, 2011 2:40pm Apr 5, 2011 2:40pm
Quoting PurePrice
if it was not so late in the day, I would look at re-entering long about now as everything is in order for a re-entry long .
Although sometimes at the end of the day, you get a nice surge in price . this maybe it
  • #2,086
  • Apr 5, 2011 2:41pm Apr 5, 2011 2:41pm
Quoting PurePrice
Yeah, I understand. Just never chase the trade .. if you missed the first entry, stay out and you may get a retrace and chance for a re-entry later on in the day.
Thanks for your time and also sharing your experience. Tomorrow I am in all day and will do a proper job during London session and let you know how it went. Will remember to keep things simple too. Have a good evening ..
  • #2,087
  • Apr 5, 2011 2:44pm Apr 5, 2011 2:44pm
Quoting Anu_
Thanks for your time and also sharing your experience. Tomorrow I am in all day and will do a proper job during London session and let you know how it went. Will remember to keep things simple too. Have a good evening ..
That would be nice to have someone dedicated to testing this properly. There is news out of UK at 4:30 EST, and that should move the GBPUSD nicely, and that would be the pair I would watch during London.

I am looking forward to your test results.

Have a good night as well, and we will talk to you tomorrow after you rake in some nice pips in the morning
  • #2,088
  • Apr 5, 2011 2:45pm Apr 5, 2011 2:45pm
Quoting PurePrice
That would be nice to have someone dedicated to testing this properly. There is news out of UK at 4:30 EST, and that should move the GBPUSD nicely, and that would be the pair I would watch during London.

I am looking forward to your test results.

Have a good night as well, and we will talk to you tomorrow after you rake in some nice pips in the morning

Please keep track of your trade and take screen shots for us all to see as you trade (if you get a chance) .. thanks in advance.
  • #2,089
  • Apr 5, 2011 2:53pm Apr 5, 2011 2:53pm
Quoting PurePrice
Although sometimes at the end of the day, you get a nice surge in price . this maybe it
Thanks a lot... its good that I get to try the late entry with you at the same time. Waiting for the TL breal atm ..
  • #2,090
  • Apr 5, 2011 3:03pm Apr 5, 2011 3:03pm
Quoting Anu_
Thanks a lot... its good that I get to try the late entry with you at the same time. Waiting for the TL breal atm ..
Action is sooo sloow now, and we may need to wait for Tokyo to see any real price movement. I know you need to get some sleep so you will likely miss out
  • #2,091
  • Apr 5, 2011 3:19pm Apr 5, 2011 3:19pm
Quoting PurePrice
Action is sooo sloow now, and we may need to wait for Tokyo to see any real price movement. I know you need to get some sleep so you will likely miss out
Yes, I might not be up till Tokyo opens which is about 3.5 hrs away I believe. O ris it only 1 hr away??

Just to reconfirm, I see now the TL is broken but we are waitign for the 6 and 12 EMAs to cross and line up nicely with good angle and separation right? Also, if it takes longer we may have to draw a new TL.
  • #2,092
  • Apr 5, 2011 3:25pm Apr 5, 2011 3:25pm
Do we see a re-entry on the cable too ?
MCTL is broken now and EMAs are also getting ready it seems to long..
  • #2,093
  • Apr 5, 2011 3:27pm Apr 5, 2011 3:27pm
Quoting Anu_
Do we see a re-entry on the cable too ?
MCTL is broken now and EMAs are also getting ready it seems to long..

You got it

the only issue right now is that it is soooo late in the day, all the traders have gone home for the day in NY.
  • #2,094
  • Apr 5, 2011 3:31pm Apr 5, 2011 3:31pm
Quoting PurePrice
You got it

the only issue right now is that it is soooo late in the day, all the traders have gone home for the day in NY.
Cool.. thank you .. yea..h, no much action then .. how about $100 per pip for just 5 pips
  • #2,095
  • Apr 5, 2011 3:39pm Apr 5, 2011 3:39pm
Quoting Anu_
Cool.. thank you .. yea..h, no much action then .. how about $100 per pip for just 5 pips
That is 500 bucks in your pocket .. looks like the gpbusd just jumped 10 pips for you on that re-entry long .. did you take it??
  • #2,096
  • Apr 5, 2011 3:40pm Apr 5, 2011 3:40pm
Quoting PurePrice
That is 500 bucks in your pocket .. looks like the gpbusd just jumped 10 pips for you on that re-entry long .. did you take it??

THIS MIGHT BE the end of day move I've been waiting for
  • #2,097
  • Apr 5, 2011 3:42pm Apr 5, 2011 3:42pm
Quoting PurePrice
THIS MIGHT BE the end of day move I've been waiting for
GBPUSD is back up at the daily high.. eurusd has got about 20 pips to go to the high of the day
  • #2,098
  • Apr 5, 2011 3:44pm Apr 5, 2011 3:44pm
Quoting PurePrice
GBPUSD is back up at the daily high.. eurusd has got about 20 pips to go to the high of the day
This is just like playing with fire
  • #2,099
  • Apr 5, 2011 3:44pm Apr 5, 2011 3:44pm
Quoting PurePrice
THIS MIGHT BE the end of day move I've been waiting for
Yes, this might go all the way to 300. Monthly R1 pivot is also waiting at 304 on my chart..

No I didn't take it either. That is okay though ... my first ever re-entry on PASS system. I am happy to have spotted it at least ..
  • #2,100
  • Apr 5, 2011 3:48pm Apr 5, 2011 3:48pm
Quoting PurePrice
GBPUSD is back up at the daily high.. eurusd has got about 20 pips to go to the high of the day
That's a good point.
Does the price normally hit the daily high during NY session?
Does the Tokyo open now or in 2 hrs?
5 traders viewing now