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5-min PASS (Price Action Scalper System)

  • #2,501
  • Apr 12, 2011 2:24pm Apr 12, 2011 2:24pm
Quoting PurePrice
My current platform time is 15:22, I assume your GMT time is now 19:22??
huh..ha.. hh
great minds think the same ... at the right time too...
  • #2,502
  • Apr 12, 2011 2:26pm Apr 12, 2011 2:26pm
Quoting Anu_
Sure, give me 5 mins plz. I think the time difference is 5 hrs. it is 20.22 here in London atm. what's ur time ?
Your platform is NOT gmt time, like I thought you ar off by one hour sir tha tis why I asked about the time yesterday as the setups didnot line up

You are at GMT +1
  • #2,503
  • Apr 12, 2011 2:29pm Apr 12, 2011 2:29pm
Quoting PurePrice
Your platform is NOT gmt time, like I thought you ar off by one hour sir tha tis why I asked about the time yesterday as the setups didnot line up

You are at GMT +1
A...HHH.. Yes, we do have now 1H daylight saving thing... sorry about that. do u still want me to post the chartz ??
  • #2,504
  • Apr 12, 2011 2:34pm Apr 12, 2011 2:34pm
Quoting Anu_
A...HHH.. Yes, we do have now 1H daylight saving thing... sorry about that. do u still want me to post the chartz ??
Nope that is fine, thank you .. but is your platform GMT +1 also? that means all your backtesting that you did with simulator gmt+1, or was the switch part way in those days cuz that would change the way we verify those xls sheets you posted yesterday?
  • #2,505
  • Apr 12, 2011 2:37pm Apr 12, 2011 2:37pm
Quoting PurePrice
Nope that is fine, thank you .. but is your platform GMT +1 also?
Yes, Current time on it is 20.35. I am using the IT Finance platform. I do spread betting with IG index broker as it is tax free. Their free platform is IT Finance.
  • #2,506
  • Apr 12, 2011 2:41pm Apr 12, 2011 2:41pm
Quoting PurePrice
Nope that is fine, thank you .. but is your platform GMT +1 also? that means all your backtesting that you did with simulator gmt+1, or was the switch part way in those days cuz that would change the way we verify those xls sheets you posted yesterday?
You have a very good point!!!!

UK time changed to Summer time on Sunday 3rd April. So all trades between 21st March - 01st April has the 4 hr difference, i.e. GMT.
From 4th April onwards it should be GMT +1.
Hopefully you should be able to replicate some of those trades now.
I am glad it came out like this accidentally..
  • #2,507
  • Apr 12, 2011 2:57pm Apr 12, 2011 2:57pm
Quoting PurePrice
Thank you very much for doing this psydox. I really appreciate your help with this.
No problem. I actually meant the early entry method, lol. I don't consider the break of a MCTL to be that advanced. hahaha. Oh! That reminds me, I also have to add the additional M and W formations.

I'm curious about the real advanced entry...
  • #2,508
  • Apr 12, 2011 3:52pm Apr 12, 2011 3:52pm
Quoting psydox
No problem. I actually meant the early entry method, lol. I don't consider the break of a MCTL to be that advanced. hahaha. Oh! That reminds me, I also have to add the additional M and W formations.

I'm curious about the real advanced entry...

The advanced entry wil be another way to enter the trade. The reason why I call it "advanced" is because this entry method will likely be occuring in advance of he other 2 methods (Late/Basic and Early entries) AND it will require a bit of advanced knowledge of PA. This requires candle pattern formation knowledge, and pure price action decision.
  • #2,509
  • Edited 4:02pm Apr 12, 2011 4:00pm | Edited 4:02pm
Attached is the latest sheet with some trades from y'day and today.
See whether you all also agree with me ..
Attached File(s)
File Type: xls PASS Back Testing Results.xls   45 KB | 437 downloads
  • #2,510
  • Edited 4:32pm Apr 12, 2011 4:15pm | Edited 4:32pm
We wait for all conditions to line up as before. However we do not necessarily need to break the fractal or the MCTL. We wait for a pull back to the area of EMA6 or EMA12, and then look for an entry there. We basically will look for a rejection at this area coupled with one of the following 4 candle formations:

1- Pinbar (hammer)
2- Englufing (outside) Bar
3- Railway tracks
4- Doji, preferably 2 or more

Once we see the pattern form, we enter on the next candle breaking this pattern (either to the downside or upside depending on Long or short).

If you are not familiar with those formations, please google them.
  • #2,511
  • Apr 12, 2011 4:21pm Apr 12, 2011 4:21pm
here is example of long and short entries. I know EMAs on higher TF wil be different but this is just to demonstrate an entry on 5-min frame ONLY.
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 38 KB
  • #2,512
  • Apr 12, 2011 4:26pm Apr 12, 2011 4:26pm
here is a couple entries
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 31 KB
  • #2,513
  • Apr 12, 2011 4:26pm Apr 12, 2011 4:26pm
Quoting PurePrice
here is example of long and short entries. I know EMAs on higher TF wil be different but this is just to demonstrate an entry on 5-min frame ONLY.
Good work .. Thanks a lot. So, the entry is after the candle formation and at the opening of the next candle ? Not the closing of the next candle??
  • #2,514
  • Apr 12, 2011 4:31pm Apr 12, 2011 4:31pm
short entry
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 32 KB
  • #2,515
  • Apr 12, 2011 4:34pm Apr 12, 2011 4:34pm
Quoting Anu_
Good work .. Thanks a lot. So, the entry is after the candle formation and at the opening of the next candle ? Not the closing of the next candle??

Next candle breaking the hi or low of the candle making the formation. So for example if we get a pinbar formation on the closed candle, the current candle has to go beyond the low of the pinbar candle for us to enter short (I am basically looking for a PA continuation of the reversal candle). You could enter on the open of the candle instead of witing for the break of hi/lo, but I'd rather wait to see PA follow through.
  • #2,516
  • Apr 12, 2011 4:36pm Apr 12, 2011 4:36pm
long
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 30 KB
  • #2,517
  • Apr 12, 2011 4:40pm Apr 12, 2011 4:40pm
long entry
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 34 KB
  • #2,518
  • Apr 12, 2011 4:43pm Apr 12, 2011 4:43pm
I hope you find this entry method useful. Go bac in your charts and look at these patterns and see if you can pick them out.

Obviously the best trdes would be ones that have many of our setups occuring all at once, such as a combo of fractal breaking, and MCTL breaking, in addition to a W or M formation prior to the trigger, along with having a nice candle formation to boot. That would be like a AAA setup and the probability of winning is higher.
  • #2,519
  • Apr 12, 2011 4:44pm Apr 12, 2011 4:44pm
Sorry I have to leave to go home now. Please go through your charts and review the advanced entry, and post your questions and I wil try to answer them tomorrow.

Good night everyone.
  • #2,520
  • Apr 12, 2011 8:43pm Apr 12, 2011 8:43pm
another slow asian session, as usual.. that is why i hate trading this session nothing much happens. But sometimes you get nice action, like last night, which i missed, of course
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