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5-min PASS (Price Action Scalper System)

  • #2,661
  • Apr 18, 2011 9:42am Apr 18, 2011 9:42am
Quoting brettM
last ej for the day double bottom says i need to quit...this was only +7 but another .5% LOL

can you say overtrading....

It looks like eurusd is going down, maybe for another test at the bottom and perhaps exceeding it?
  • #2,662
  • Apr 18, 2011 9:43am Apr 18, 2011 9:43am
Quoting wallstreet03
hi traders, how do you use fractals in this strategy ?

thank's
Hi there,

going with the trend a break of the fractal is entry and the previous fractal will be stop..

so its a 123 break out of the 2 area basically...
  • #2,663
  • Apr 18, 2011 9:43am Apr 18, 2011 9:43am
Quoting brettM
last ej for the day double bottom says i need to quit...this was only +7 but another .5% LOL

can you say overtrading....

OVERTRADING LOL

are you doing this live or on demo? Just curious
  • #2,664
  • Apr 18, 2011 9:46am Apr 18, 2011 9:46am
Quoting PurePrice
It looks like eurusd is going down, maybe for another test at the bottom and perhaps exceeding it?
It is happening.. I am inshort
  • #2,665
  • Apr 18, 2011 9:49am Apr 18, 2011 9:49am
today 3 x 12 and 1 trade with -20 , but in this trade missed tp for 0,5 pips ! :-( with broker ecn I take tp !
  • #2,666
  • Apr 18, 2011 9:49am Apr 18, 2011 9:49am
Quoting PurePrice
It is happening.. I am inshort

ALL out at another +30 pips
  • #2,667
  • Apr 18, 2011 9:52am Apr 18, 2011 9:52am
i am live my risk is 2% and I also just try to get 2% per day but like today if price is really trending I keep going but think now that we get close to london close i will stop tomorrow is another day...

i took the ej short +35 at 80% and +56 on the remainder,,,

LOL I have to walk away now...sweet trading..

did you take profit PP
Attached Image (click to enlarge)
Click to Enlarge Name: ok this is my last ej short.gif Size: 16 KB
  • #2,668
  • Apr 18, 2011 9:54am Apr 18, 2011 9:54am
Quoting brettM
i am live my risk is 2% and I also just try to get 2% per day but like today if price is really trending I keep going but think now that we get close to london close i will stop tomorrow is another day...

i took the ej short +35 at 80% and +56 on the remainder,,,

LOL I have to walk away now...sweet trading..

did you take profit PP

Yes, I am done. two trades on eurusd: one for +20 and one for +30 pips.
  • #2,669
  • Apr 18, 2011 10:00am Apr 18, 2011 10:00am
Quoting PurePrice
Yes, I am done. two trades on eurusd: one for +20 and one for +30 pips.

Nice trading I love trend days...

My ej target is 115.50 area but since I just day trade hard for me to hold that long I like to bank the pips...even on my 20% I end up taking profit before my target then kick myself when it gets hit...

I was just trading EU but EJ has had some nice trend days so I threw it up also I split the risk between the two so far EJ has out performed EU
  • #2,670
  • Apr 18, 2011 10:03am Apr 18, 2011 10:03am
Quoting brettM
Nice trading I love trend days...

My ej target is 115.50 area but since I just day trade hard for me to hold that long I like to bank the pips...even on my 20% I end up taking profit before my target then kick myself when it gets hit...

I was just trading EU but EJ has had some nice trend days so I threw it up also I split the risk between the two so far EJ has out performed EU

Good trading Brett.

Where in the USA are you? I am in Canada, about one hour west of Toronto.
  • #2,671
  • Apr 18, 2011 10:05am Apr 18, 2011 10:05am
Ive been trying this a little on the pullback.

Like today down trend overall, price pulls back and I wait for the first candle to make a lower high and a lower low and take the break of that candle just in case the fractal holds, if it doesn't more pips and stop is a little less.

Its almost like a trend line break but using Price Action for entry...
Attached Image (click to enlarge)
Click to Enlarge Name: little early set up.gif Size: 19 KB
  • #2,672
  • Apr 18, 2011 10:06am Apr 18, 2011 10:06am
WOW ... the EUR is going down like a whore on a saturday night
  • #2,673
  • Apr 18, 2011 10:07am Apr 18, 2011 10:07am
Quoting brettM
Ive been trying this a little on the pullback.

Like today down trend overall, price pulls back and I wait for the first candle to make a lower high and a lower low and take the break of that candle just in case the fractal holds, if it doesn't more pips and stop is a little less.

Its almost like a trend line break but using Price Action for entry...

Yeah, that is very similar to my advanced entry method.
  • #2,674
  • Apr 18, 2011 10:09am Apr 18, 2011 10:09am
Quoting PurePrice
WOW ... the EUR is going down like a whore on a saturday night
LMAO....

I was thinking the same thing...

Ok good trading off to the store to spend my pips...
  • #2,675
  • Apr 18, 2011 10:09am Apr 18, 2011 10:09am
Quoting brettM
Ive been trying this a little on the pullback.

Like today down trend overall, price pulls back and I wait for the first candle to make a lower high and a lower low and take the break of that candle just in case the fractal holds, if it doesn't more pips and stop is a little less.

Its almost like a trend line break but using Price Action for entry...
That's really interesting, I have been looking at this too. Is it a variation of Joe Ross's trader's trick entry?
  • #2,676
  • Apr 18, 2011 10:46am Apr 18, 2011 10:46am
We are getting some nice pullbacks now on eur and usd pairs, which we may be able to take advantage of for re-entry short later on today. Keep watching for a re-entry espcially "advanced entry" method for now.
  • #2,677
  • Apr 18, 2011 10:49am Apr 18, 2011 10:49am
I am interested in the current gbpusd PA, as it is sitting at previous support (may now become new resistance) around 16230 area
  • #2,678
  • Apr 18, 2011 11:09am Apr 18, 2011 11:09am
So, just a few posts ago I indicated that I did not place in the top 20 traders in the SureFireTrading Challange, HOWEVER, I jsut recieved an email from the Challange organizer saying I actually placed number 29 overall among 1500 traders. Also indicated that there MAY BE a chance I qualify for Live trading if other better placed candidates do not compete the next stage properly and they may get disqualified. this involves an interview, an english language assessment, description of the system, ability to teach others how to use it, etc. So, to make long story short, i MIGHT still qualify (although there is a chance I may not) ... WOOOOOHOOOOOO I am excited because if I do qualify, the organizers will fund a real account with real money out of THEIR pocket, not mine for $1000 dollars that I can trade for a month. If I place well in live competition (nly 20 traders compete), I get to win prize
  • #2,679
  • Apr 18, 2011 11:12am Apr 18, 2011 11:12am
Quoting PurePrice
I am interested in the current gbpusd PA, as it is sitting at previous support (may now become new resistance) around 16230 area
here it is on the chart
Attached Image (click to enlarge)
Click to Enlarge Name: mt19.gif Size: 35 KB
  • #2,680
  • Apr 18, 2011 11:14am Apr 18, 2011 11:14am
Now I know why God do not want me to give up spot forex trading. I know deep down inside me there is someone out there who is generous with his or her winning trading methods. I pray for your success and I have faith someday real soon you will be on Forbes World Billionaire's list. Thanks for sharing. May you n your beloved being bless with abundance of Love, Health and Wealth.
Quoting PurePrice
I was trading live, but I have stoped because I was trying to concentrate on the Sure Fire Trading Challange....
Loving Life.............
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