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5Min Intraday System

  • #7,541
  • Mar 31, 2011 7:51am Mar 31, 2011 7:51am
Quoting Golfer
I didn't follow the market today but based on my trading style - see the comment on the chart.

I might be wrong!
you are right .
A chart helps those who can read it.
  • #7,542
  • Apr 1, 2011 9:05am Apr 1, 2011 9:05am
Grabbed 25 risky pips here, it has done it daily range and is right near the bottom now, unless the news drives it farther.....
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Canadian by birth Australian by choice
  • #7,543
  • Apr 4, 2011 5:08am Apr 4, 2011 5:08am
Hi brothers ,

after those 500 pages could some one tell me in prief what is the rules for entry now ....?????

And i will appreciate fi someone give a link to philip 1h strategy rules ...?????

Thanks to all inadvance ....!!!!
  • #7,544
  • Apr 6, 2011 1:31am Apr 6, 2011 1:31am
Quoting khalidhassan
Hi brothers ,

after those 500 pages could some one tell me in prief what is the rules for entry now ....?????

And i will appreciate fi someone give a link to philip 1h strategy rules ...?????

Thanks to all inadvance ....!!!!
if u cant find it, then i dont think forex is for u.
i dont post very often, but im sick of ppl not reading the FIRST PAGE HINT HINT , then asking questions.

good luck this system works for me very well, i hope it works out for u.
  • #7,545
  • Apr 6, 2011 2:03am Apr 6, 2011 2:03am
Quoting truenoteno
if u cant find it, then i dont think forex is for u.
i dont post very often, but im sick of ppl not reading the FIRST PAGE HINT HINT , then asking questions.

good luck this system works for me very well, i hope it works out for u.
Good on ya, mate, for stating the facts, but you forgot mention - there are plenty of PICTURES of charts showing how to enter also
Canadian by birth Australian by choice
  • #7,546
  • Apr 6, 2011 6:21am Apr 6, 2011 6:21am
Quoting khalidhassan
Hi brothers ,

after those 500 pages could some one tell me in prief what is the rules for entry now ....?????

And i will appreciate fi someone give a link to philip 1h strategy rules ...?????

Thanks to all inadvance ....!!!!
I know how you feel, I can't find "THE ENTRY RULES" either............

so I just made up my own, but you can have them if you like

1st, I know you read all the 4 Hour Strategy (MACD) so you know how I am finding my directional BIAS
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Canadian by birth Australian by choice
  • #7,547
  • Apr 6, 2011 7:18am Apr 6, 2011 7:18am
OK, to continue, for khalidhassan, sorry, I have very slow connection, lost it for some time actually....

Second step, after we have direction bias, is to look for the Moving Average Crossover, mainly, there are other signs, please refer to chart, I put a lot of work into this just for you
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Canadian by birth Australian by choice
  • #7,548
  • Apr 6, 2011 7:33am Apr 6, 2011 7:33am
I know, that last chart a bit of a mess, but this chart will make it clear it follows on in time from the last chart

there is no magic to the entry, just practice and recognize the price patterns, rhythm of the market someone called it
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Canadian by birth Australian by choice
  • #7,549
  • Apr 6, 2011 7:53am Apr 6, 2011 7:53am
OK, so now you're thinking, well, he just picked the easy example, sure I did, but that is what you have to do, of course you could enter anywhere in that chart and make money, so did you?

What you really need to know is where are you getting out = EXIT

The Average Daily Range for this pair for last 180 days is 92, last 5 days only 66.

Did I get 66 pips? = NO

Did I get greedy? = NO

Did I let a winner turn into a loser? = NO

++++++++++++++++++++++++++++++++++

Did I have a Profit Target? = YES

Did I control the risk? = YES

Did I follow my plan? = YES
Attached Image (click to enlarge)
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Canadian by birth Australian by choice
  • #7,550
  • Apr 7, 2011 2:48am Apr 7, 2011 2:48am
Another chart, you can figure this out for yourself

Watch out for interest rate rise later today
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Canadian by birth Australian by choice
  • #7,551
  • Apr 11, 2011 2:26am Apr 11, 2011 2:26am
new here, a trade for the day in GBP/USD, lukily get 15pips, i used the system and indatiors earlier in the thread, want to know you guys trade the same?
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  • #7,552
  • Apr 11, 2011 4:39am Apr 11, 2011 4:39am
Quoting benjamiin000
new here, a trade for the day in GBP/USD, lukily get 15pips, i used the system and indatiors earlier in the thread, want to know you guys trade the same?
I would have taken the trade as well - previous support level turning into resistance right in the war zone.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,553
  • Apr 11, 2011 11:20am Apr 11, 2011 11:20am
Quoting Golfer
I would have taken the trade as well - previous support level turning into resistance right in the war zone.
Ｈｅ said it all. The retracement in the war zone often bounces back because of the support/resistance level. This combination is like the best setup. If you try and guess an entry point at "somewhere-around-here" in the war zone, you can still lose with this system.

And Golfer, would you enter when you do not see an S/R line and a candle gets in the sweet spot, say at the first retracement?
A successful trading depends on knowing what to analyze.
  • #7,554
  • Apr 11, 2011 11:25am Apr 11, 2011 11:25am
though not many people here now ,i am very sure ,this system is one of the BEST system in FF. thank you PhilNel and everyone here . i have earned many pips with this system .
A chart helps those who can read it.
  • #7,555
  • Apr 12, 2011 1:42am Apr 12, 2011 1:42am
Quoting TheSnowman
OK, to continue, for khalidhassan, sorry, I have very slow connection, lost it for some time actually....

Second step, after we have direction bias, is to look for the Moving Average Crossover, mainly, there are other signs, please refer to chart, I put a lot of work into this just for you
that is too much brother .. thaaaaaaaaaaaaaaaaaaaaaaaaaaaanks man...!!!
  • #7,556
  • Apr 12, 2011 1:53am Apr 12, 2011 1:53am
Quote
so you know how I am finding my directional BIAS

(finding my directional BIAS) would you explain it more , that is my major problem , if am using 5mins tf do i have to trade depending on the (daily / 4hrs) trend , or i have to ignore this and just focusing on 5mins crosses..???
  • #7,557
  • Apr 12, 2011 5:12am Apr 12, 2011 5:12am
Quoting Pipdealer
Ｈｅ said it all. The retracement in the war zone often bounces back because of the support/resistance level. This combination is like the best setup. If you try and guess an entry point at "somewhere-around-here" in the war zone, you can still lose with this system.

And Golfer, would you enter when you do not see an S/R line and a candle gets in the sweet spot, say at the first retracement?
Hi Pipdealer

Your question:

"And Golfer, would you enter when you do not see an S/R line and a candle gets in the sweet spot, say at the first retracement?"

My answer:

According to the original rule - yes, one should enter once:

1. There is a pullback into the war zone
2. 50SMA in down or up with a 20degree angle.

I struggled with it and that is why I added price action to my tradings style.

Currently with my style of trading - no, I would like to see other signals:

1. Bounce off the previous support/resistance levels
2. Near the war zone
3. Nice candle formation to confirm the new support/resistance found.

Nowadays I don't just enter once I see what looks like a first pullback. This is where I got burned too many times in the past and I almost gave up on this system. Then I realise this is a 5min system & chart with lost of whipsaw with lost of losers (negative trades). The whipsaw will continue until a small intra-day trend is established - only then will this system work well (still you'll have negative treades). I've worked on this small intra-day trend and how to identify it. Nowadays I feel more comfortable with it.

With this approach, there are fewer trades - even no trades whatsoever in a day. Can be very frustrating but patience is the name of the game.

I hope it make sense.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,558
  • Apr 12, 2011 6:03am Apr 12, 2011 6:03am
Quoting Golfer
Hi Pipdealer

Currently with my style of trading - no, I would like to see other signals:

1. Bounce off the previous support/resistance levels
2. Near the war zone
3. Nice candle formation to confirm the new support/resistance found.

I hope it make sense.
Hi Golfer,
I dont use this system, i mean i dont use MAs. But I trade naked 5 min chart with hand-drawing trendlines. Totally agree with u on the pull back issue! It also costed me lots of time to figure it out. Now, I'd like to say: S&R+trendline= best entry (U know, when they r crossing. Yup, these's loss sometime, but not often)

Happy pips~
boomslang
  • #7,559
  • Edited 7:00am Apr 12, 2011 6:54am | Edited 7:00am
Quoting boomslang
Hi Golfer,
I dont use this system, i mean i dont use MAs. But I trade naked 5 min chart with hand-drawing trendlines. Totally agree with u on the pull back issue! It also costed me lots of time to figure it out. Now, I'd like to say: S&R+trendline= best entry (U know, when they r crossing. Yup, these's loss sometime, but not often)

Happy pips~
boomslang
Graet , would you mind share some charts , explaining your way of trading 5mins tf using trendlines and S&R ...????
  • #7,560
  • Apr 12, 2011 6:55am Apr 12, 2011 6:55am
Quoting TheSnowman
OK, to continue, for khalidhassan, sorry, I have very slow connection, lost it for some time actually....

Second step, after we have direction bias, is to look for the Moving Average Crossover, mainly, there are other signs, please refer to chart, I put a lot of work into this just for you
Dear The Snowman
Which program do you use for making the arrows in different sizes and which are on the graphics added by you to the forum.
Thank you in advance for your interest regards
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