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The Force 5min system

  • #3,561
  • Apr 17, 2011 3:45am Apr 17, 2011 3:45am
[quote=simpleguy;4549679]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?

Simpleguy / Rufus / Freddyfx

I am trying to keeping my journal from the beginning, and agreed you guys advise. 10pips SL is need a lot practice and spotting the entry point with firm confirmation. I use to trade by exercising expert rule + OB. Any better solution to prevent loose trade ?
  • #3,562
  • Apr 17, 2011 6:03am Apr 17, 2011 6:03am
Hi.

Thank you for sharing the force strategy, I have just come across it. I am relatively new to this game and am having trouble setting up the MACD. As soon as I put 1 as the third value on the MACD, the histogram disappears and all I am left with is a straight line graph, which makes telling whether the MACD closses higher/lower than the previous time interval much trickier. Are you or anyone else able to advise what I am doing wrong please?

I am using the IG Index charts

Thanks and regards
Ruggers
  • #3,563
  • Apr 17, 2011 8:49am Apr 17, 2011 8:49am
[quote=mm7;4550115]
Quoting simpleguy
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?

Simpleguy / Rufus / Freddyfx

I am trying to keeping my journal from the beginning, and agreed you guys advise. 10pips SL is need a lot practice and spotting the entry point with firm confirmation. I use to trade by exercising expert rule + OB. Any better solution to prevent loose trade ?
Hi MM7

Loosing trades are a part of doing business. The market can do anything at any given moment in spite of the signal it gives us. The objective then is to win more pips then you loose. Then as we get better the loosing side of things gets smaller and smaller.

This gets into the psychological side of trading. Loosing 1,2,3 or 10 in a row. Then still being able to put on the next position with full conviction. I am looking forward to that day myself.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,564
  • Apr 17, 2011 9:09am Apr 17, 2011 9:09am
[quote=Rufus;4550282]
Quoting mm7

Hi MM7

Loosing trades are a part of doing business. The market can do anything at any given moment in spite of the signal it gives us. The objective then is to win more pips then you loose. Then as we get better the loosing side of things gets smaller and smaller.

This gets into the psychological side of trading. Loosing 1,2,3 or 10 in a row. Then still being able to put on the next position with full conviction. I am looking forward to that day myself.

Rufus

I zoomed out my 1h eu chart. We have been dealing with Two heavy supply zones overhead so this can make for little tougher trading conditions.

The range has been on the big side. I like to play the lower side of it more aggressively then the upper because the weekly trend is still up.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4.17eu.jpg Size: 94 KB
Click to Enlarge Name: 4.16#2.jpg Size: 65 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,565
  • Apr 17, 2011 5:39pm Apr 17, 2011 5:39pm
[quote=mm7;4550115]
Quoting simpleguy
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?

Simpleguy / Rufus / Freddyfx

I am trying to keeping my journal from the beginning, and agreed you guys advise. 10pips SL is need a lot practice and spotting the entry point with firm confirmation. I use to trade by exercising expert rule + OB. Any better solution to prevent loose trade ?
To be honest, it's not rules as much as learning and feeling the market. I look for positions that should produce a quick flow of movement as soon as it enters or breaks a certain area. If I put on a trade and don't get it, I aggressively start to get out of my trade and chart it up as a learning experience.

The reason this works for me is because it meets my personality. If it's not working get out with as small of a loss as I can. It's all about capital preservation and sooner or later I'll get those 150+ runs that really makes the money.

As for why I use to 10 pip SL is because I've noticed from LOTS of trades that a majority of my trades that went 10+ pips against went the 20. so the numbers say if I just cut them at 10 it will help increase my profitability. Remember, once you get out, you can always get back in.

Simple
A woman drove me to drink, and I forgot to thank her
  • #3,566
  • Apr 17, 2011 5:41pm Apr 17, 2011 5:41pm
Quoting Rugrat
Hi.

Thank you for sharing the force strategy, I have just come across it. I am relatively new to this game and am having trouble setting up the MACD. As soon as I put 1 as the third value on the MACD, the histogram disappears and all I am left with is a straight line graph, which makes telling whether the MACD closses higher/lower than the previous time interval much trickier. Are you or anyone else able to advise what I am doing wrong please?

I am using the IG Index charts

Thanks and regards
Ruggers
If you can post a screen shot so we can see what you are doing for help.

Are you downloading the MACD from the first page here?
A woman drove me to drink, and I forgot to thank her
  • #3,567
  • Apr 17, 2011 11:05pm Apr 17, 2011 11:05pm
Hi.. Rufus , Simpleguy

I am analyst your chart and your comment as well as simpleguy experience. Hope I can understand.

Rufus , the yellow color is your indicator or own drawing ?
  • #3,568
  • Apr 18, 2011 1:05am Apr 18, 2011 1:05am
Quoting mm7
Hi.. Rufus , Simpleguy

I am analyst your chart and your comment as well as simpleguy experience. Hope I can understand.

Rufus , the yellow color is your indicator or own drawing ?
If you are speaking of the yellow squares. I draw those in as areas of intrest gets touched.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,569
  • Edited 3:38am Apr 18, 2011 2:21am | Edited 3:38am
Quoting Rugrat
Hi.

As soon as I put 1 as the third value on the MACD, the histogram disappears and all I am left with is a straight line graph, which makes telling whether the MACD closses higher/lower than the previous time interval much trickier. Are you or anyone else able to advise what I am doing wrong please?
Hi as IG don't use MT4 you will not be able to utilise the templates on the first page. You can get a histogram but not one that changes colour as it changes direction. A useful alternative is as follows:

 

  1. Go into the MACD settings pane by hitting the spanner symbol.
  2. Highlight the MACD line
  3. Change the 'Colour Downtrend' to a different shade, say red.
  4. I find it helps to select a thicker line from 'width'.
  5. The pane should now look like this.

Attached Image


You won't get a histogram but the line will be blue when it's going up and red when down, changing colour as it reverses which makes the direction much easier to spot.

Incidentally, if you change the 'style' box to histogram it will convert the line back to the original format.

Hope this helps.
Too tired to argue. Too old to care.
  • #3,570
  • Apr 18, 2011 3:57am Apr 18, 2011 3:57am
Thanks, this has helped. I am going to download MT4 no as well. Where is the best place to find the most up to date templates for this strategy please?
  • #3,571
  • Apr 18, 2011 5:41am Apr 18, 2011 5:41am
Good morning all,

Hope everyone caught the big trade, not really sure why it was such a big trade. I was too involved in eating my coco crispy cereal with peanut butter, yum. talk about wanting to kick yourself in the backside when you miss something like this when your sitting right at your computer with the screen up, proper plan in place, and just not paying attention.

What I liked about the 3:25 bar: It formed a DT with the 2:50 bar with more R on top of that with the 2:30 bar high and the Daily PP, lots of R in a down trend. I was even planing to take a intrabar trade (riskier) when it got up to the DT level by putting a Limit order in and wait for price to come back and take it out. This is the type of trade I look for, very small potential SL. if the bar would have broken it's high and went up I would have been looking for a reversal (unless it would have closed above the Daily or consolidated) with a limit the 2:50 high bar. It would have been a 6 pip SL, nice. If it would have broken the daily I would wait for it to break up, reverse back to the daily and gotten into it long.

The Trade I did catch today was the 3:40 bar. After the 3:25 bar we had a wide ranging indecision bar but it did crush pass 2 PP and almost closed above both, the next one was showing some downward pressure but I just didn't like the bar. I see the stochs are at a bottom so I was looking for a reversal of that quick move so I placed my order at 1.4324. The 3:40 bar came up and took it out. it was an explosion up. when it passed the S1 I put my SL at 1.4348 and figured I'd wait for it to be taken out, I'm happy with 24 pips of full wins cause i didn't really have time to take partials.

Now this was what I consider a risky trade cause it is what I'm calling counter trend cause of the past couple of days looks like we are having a little pull back on the Higher TF.

What gave me confidence to take it: only a 9 pip SL originally. I thought if I took it it would give me my profit quickly but honestly, never thought it would have shot up like that. I thought move SL to BE at +4 or 5 and then start to take profits and prepare for another wave downward.
Attached Image (click to enlarge)
Click to Enlarge Name: monday.gif Size: 26 KB
A woman drove me to drink, and I forgot to thank her
  • #3,572
  • Apr 18, 2011 5:43am Apr 18, 2011 5:43am
the 6:40 bar, est, breaking down pass the 2 piviot, taking 1/2 off now. think will go to the low of the 3:30 bar and reverse or hold. Either the best part of it's over for a scalp
A woman drove me to drink, and I forgot to thank her
  • #3,573
  • Apr 18, 2011 5:45am Apr 18, 2011 5:45am
Moved SL to 1.4312 to lock in the rest at BE+2. See if it runs with it or not?

original SL 1.4321 (7pips)
Entry at1.4314
Took Half off at 1.4303
A woman drove me to drink, and I forgot to thank her
  • #3,574
  • Apr 18, 2011 5:49am Apr 18, 2011 5:49am
I'm sitting here for the next bar waiting for it to do something, nothing is being done, if it doesn't move soon, I'm closing.

It moved, closed me out! it's okay, I Liked the trade.

Now I just sit back and wait for more consolidation, hit a major point of S/R, or gives me another pretty SL.

I'm off this site for a couple, check back in later.
A woman drove me to drink, and I forgot to thank her
  • #3,575
  • Apr 18, 2011 6:26am Apr 18, 2011 6:26am
I'm looking at some potential support at 1.4270 and another at 1.4247.

My next plan to see what happens when and if price hits that level. Personal preference (like that means anything) is to see price blow past it hard and fast and then come back up to it, and then continue with my shorts from last week.

Either way, keep an eye on it for trades. If something shows up and gives me a good long at that area I will be moving to BE, taking profits, and moving up SL quickly just encase it's a head fake by the market

good luck all!
A woman drove me to drink, and I forgot to thank her
  • #3,576
  • Apr 18, 2011 7:07am Apr 18, 2011 7:07am
I entered at open of next bar, Will move SL to BE ASAP! cut SL in Half to only 5, either it will take off, or stop out and I can enter again later
A woman drove me to drink, and I forgot to thank her
  • #3,577
  • Apr 18, 2011 7:21am Apr 18, 2011 7:21am
the green bar in the sea of red, I opened my order as soon as this closed. 5 minute bar indecision, I moved my SL up to it's low and price just took me out as typing this sentence. could this trade still go up to the S2 area like I thought it would, possible. But it did not explode like I wanted it to so I stuck with my game plan and got out.

What did I learn from this trade?

1. I have a new low from the bar for a potential DB (don't like this trade as of now)
2. Supply was no where near as strong as I thought at top of zone
3. Greater potential for a push through and continue
4. If we get a reversal, I will expect it to deeper in the zone
5. For me to go long again I need a hourly bar to enter the zone and then close on the long side of it. then I'll "consider" longs to be a less of a risk trade.
6. To go long without trades going into and closing outside of the zone I will have to see some serious price action showing me the way.

Could all this be wrong, you bettcha! it's my current perspective and i will make changes to it as the bars go.

Example, new bar after the one that took me out is a nice bullish bar. If it can go up to the 1.4292 area good S/R (short term) with PA I might go short again.

Hope this helps some of you. Simple
Attached Image (click to enlarge)
Click to Enlarge Name: monday 2.gif Size: 21 KB
A woman drove me to drink, and I forgot to thank her
  • #3,578
  • Apr 18, 2011 7:48am Apr 18, 2011 7:48am
We got what ended up looking like a weak pin bar. I saw it hit the mark, went past by a pip and then start to pull back, I got in on the High of the previous bar. At the close it put me at +4, I moved to BE andthe next bar went a couple of pips and just started bouncing back and forth. I took half off at +5 and had the rest at BE +1.

Not as good as I would have wanted, but small profits stack up.

If you are just starting I would not recommend you doing many of these as they are Higher risk cause:

1. they are intrabar trade, meaning I did not wait for closes (this has gotten me in a lot of trouble before)

2. Very short term mind set
3. not really at swing high or low points
4. not perfectly by the rules, but how I started to learn what works for me over a long period of demo, live, demo, live, demo, live trading.

If you are starting out, wait for only the best trades. The type of trades that has your platform almost wanting to put the trade on for you cause it's such a good trade.

Don't get greedy! if you can average 20 pips a day, everyday, in a few years time you could be a very wealthy person!
A woman drove me to drink, and I forgot to thank her
  • #3,579
  • Apr 18, 2011 8:24am Apr 18, 2011 8:24am
I have the whole trade SL at 1.4310!

Love it!
A woman drove me to drink, and I forgot to thank her
  • #3,580
  • Apr 18, 2011 8:25am Apr 18, 2011 8:25am
Moved to 2 pips above new bar1.4305
A woman drove me to drink, and I forgot to thank her
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