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The Force 5min system

  • #3,541
  • Edited 10:09pm Apr 5, 2011 9:55pm | Edited 10:09pm
Quoting mm7
Today is making 146pips, exercising expert rules. After Nyse open, the chart change to advance rules.
Hi MM

Sounds like you are doing an awesome job. I have still been quite busy with work so my trading time is still limited.

I will be going to bed early tonight and see about trading tomorrow night. By the way London opens for me at 12:00 am so it is always a late night for me when I am trading.

I think I will have my work caught up soon and will be able to trade more.

Did catch a little F5 entry last night for about 25 pips. Screen shot on my trading computer but here is where it was. Bounce off trend.

Trade safe MM and I am enjoying looking at your charts. By the way could you mark the candles you enter on?

Rufus
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,542
  • Edited 11:32pm Apr 5, 2011 10:28pm | Edited 11:32pm
Quoting Rufus
Hi MM

Sounds like you are doing an awesome job. I have still been quite busy with work so my trading time is still limited.

I will be going to bed early tonight and see about trading tomorrow night. By the way London opens for me at 12:00 am so it is always a late night for me when I am trading.

I think I will have my work caught up soon and will be able to trade more.

Did catch a little F5 entry last night for about 25 pips. Screen shot on my trading computer but here is where it was. Bounce off trend.

Trade safe MM and I am enjoying...

hi.. Rufus,

the small triangle is my TP . Thanks for your advise... I always remember ForexJedi quote ( Be patience, Don't be risky ).
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  • #3,543
  • Apr 5, 2011 10:43pm Apr 5, 2011 10:43pm
Be patient, Don't be risky

We should hang that on the refrigerator and everything else around us.

The pips are in the patience
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,544
  • Apr 5, 2011 11:29pm Apr 5, 2011 11:29pm
Quoting Rufus
Be patience, Don't be risky

We should hang that on the refrigerator and everything else around us.

The pips are in the patience
I can't get what you mean ??? Can you describe more
  • #3,545
  • Apr 6, 2011 12:51am Apr 6, 2011 12:51am
Quoting mm7
I can't get what you mean ??? Can you describe more

I am just saying that it is great advice. It also seems that you are good at patience.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,546
  • Apr 6, 2011 8:57pm Apr 6, 2011 8:57pm
Today I had no trade because very tired. It seem market trend is good.
  • #3,547
  • Apr 11, 2011 12:12am Apr 11, 2011 12:12am
I closed this out at only 10 pips. Latter went to 25. Price seemed to stall on me and I did not want to let this drift through the tail end of the Asian session.


But it shows a bit of what I like to see to take a position.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,548
  • Apr 11, 2011 8:43am Apr 11, 2011 8:43am
Today is great harvest Total pips gain are 350pips of 3 order sell.
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  • #3,549
  • Apr 12, 2011 9:04am Apr 12, 2011 9:04am
Total pips gain for today are 562 pips by exercising Advance rules and partial close order. Below is my chart.
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  • #3,550
  • Apr 13, 2011 9:15pm Apr 13, 2011 9:15pm
Total pips gain of day are 1,891 pips. I am exercising Advance rules and proportionate profit taking. My Stop Loss was set to 300pips and Equity Risk set to 0.5% till 1% , depending on your current situation

2 trade was loss, 1 trade wrong close order.

Lesson I learn:
Do not initiate an order when the price candle almost reach Long term Upper trend line.
Wait for the price candle totally brake the trend line and close candle bar for confirmation to initiate an order.
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  • #3,551
  • Apr 14, 2011 9:31am Apr 14, 2011 9:31am
Quick 30 (so far) Before work
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,552
  • Apr 14, 2011 11:06pm Apr 14, 2011 11:06pm
Today I had gain 112.8pips (4 decimal).
I am exercising Advance rules and proportionate profit taking. I had reduce my 1st profit talking to 5 pips and the rest run in BE and trailing stop. 1 trade was wrong key in Stop Loss hence I am lossing the spread
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  • #3,553
  • Apr 15, 2011 7:11am Apr 15, 2011 7:11am
Quoting mm7
Today I had gain 112.8pips (4 decimal).
I am exercising Advance rules and proportionate profit taking. I had reduce my 1st profit talking to 5 pips and the rest run in BE and trailing stop. 1 trade was wrong key in Stop Loss hence I am lossing the spread
You are doing great! Catching on quicker than any new guy I saw come onto the thread!

Simple
A woman drove me to drink, and I forgot to thank her
  • #3,554
  • Apr 15, 2011 10:56am Apr 15, 2011 10:56am
Quoting simpleguy
You are doing great! Catching on quicker than any new guy I saw come onto the thread!

Simple

I notice you seldom post your trading chart to FF ? Hope to see more from you and other Force 5 trader.... Cheer
  • #3,555
  • Edited Apr 16, 2011 1:24am Apr 15, 2011 11:00pm | Edited Apr 16, 2011 1:24am
Today I had gain 196.2pips (4 decimal).
Today is Friday , I am exercising Expert rules and proportionate profit taking. Some order are Full TP. I had 2 trade hit stop loss.

The 1st order was wrong buy at the higher price and excess a bit my SL.
The 2nd order was I had walk away from my computer went out for lunch. It almost hit my TP but unfortunately the price candle overturn to preset SL.
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  • #3,556
  • Edited Apr 16, 2011 1:25am Apr 15, 2011 11:08pm | Edited Apr 16, 2011 1:25am
My Trading Chart on Friday

Please correct me If I had wrong sharing on this thread and the origin Ideal from our Mentor ForexJedi.
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  • #3,557
  • Apr 16, 2011 2:54am Apr 16, 2011 2:54am
I am thinking to change my stop loss from 20pips to 30pips from next week onward . I had encounter 20pips is not enough to sustain . Experience F5 trader please give me a solution or should I go for it ?
  • #3,558
  • Apr 16, 2011 9:03am Apr 16, 2011 9:03am
The EU had been ranging all week with some pretty nasty swings. If it is trending 20 pips should be fine. But like all things the final decision is up to you. Your trading plan may include a stop size increase for a ranging market.

What I do is take positions at the extremes of the range and place my stop outside the range. Then take profits quicker. Still calculating my risk so it remains the same.

If the EU resolves north we could see 5100 before the end of the week.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,559
  • Edited 10:50am Apr 16, 2011 10:27am | Edited 10:50am
Don't think the EU will get this far this leg. Some big hedge fund will prevent that. It always happens.

I personally don't use a SL, I can trade myself out of any jam.

Simply don't overtrade, don't overleverage, take the better signals and stick to a working time.

Patience is the name of this business.

It might be a good thing to go over robdee's many useful posts.
  • #3,560
  • Apr 16, 2011 11:02am Apr 16, 2011 11:02am
Quoting mm7
I am thinking to change my stop loss from 20pips to 30pips from next week onward . I had encounter 20pips is not enough to sustain . Experience F5 trader please give me a solution or should I go for it ?
MM7,

I think Rufus said it best, it's totally up to you on how you trade. Freddyfx gave some great advise also on picking the best entries. I would ask you this, are you keeping a journal?

Here is how I would make my choice: Look at all the trades I've had losses, how much more profitability would it have showed me by making that move. then determine if it would be more profitable to be stopped out and then reenter later when price is going in your direction.

Here is what I'm thinking for the week: Been in about a 100 pip range since April 7th. My current plan is to try to keep my SL at 10pips MAX. I prefer less than 10 pip SL on this TF and take 2/3 off at the first sign of stalling and move the rest to BE+2. After I do that I then just let the market do with it as it wishes.
A woman drove me to drink, and I forgot to thank her
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