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5Min Intraday System

  • #7,601
  • May 7, 2011 9:24pm May 7, 2011 9:24pm
Quoting Golfer
Hi G

Yes, I agree because I risk about 0.5-1% per trade of my capitcal in this mini account of mine. It is recommended to risk 3-5% of your capital per trade meaning I can risk $15-$25 per trade (0.8-1.38 lots per trade using a SL of 20pips). But for now I am satisfied with my outcome.

But don't only look at my profit in $ - look at the other interesting statistics such as the % winning trades, profit factor and so on. That is more important when a person is refining their trading strategy. It will help you to develop the necessary confidence...
LOL，yes ,you are right .as a newbie ,just like me ,i should not see the $, for me ,the strategy and the % is more important .but ,YOU,i am sure you're a professional guy, and i am sure you have the confidence .you should have .you are the 10v on FF.lol .so i think you SHOULD earn more money . maybe this is only one of your account ,maybe you have another standard account .thank you . always follow you .
A chart helps those who can read it.
  • #7,602
  • Jun 4, 2011 6:20pm Jun 4, 2011 6:20pm
no one has posted here lately. Where is Golfer?
A successful trading depends on knowing what to analyze.
  • #7,603
  • Jun 14, 2011 5:56pm Jun 14, 2011 5:56pm
I was searching for a profitable intraday system and come to this thread. I have not tested it yet but by the principle of it, i think it is a sound system.

Anyone still using it?


thanks Phillip and Golfer and the system
  • #7,604
  • Jun 14, 2011 11:06pm Jun 14, 2011 11:06pm
Quoting kevinpham
I was searching for a profitable intraday system and come to this thread. I have not tested it yet but by the principle of it, i think it is a sound system.

Anyone still using it?


thanks Phillip and Golfer and the system
Well, the system needs some upgrades.
Sometimes it works, sometime it does not. So, it is better to point out when we need to stay out.
  • #7,605
  • Jun 15, 2011 5:20am Jun 15, 2011 5:20am
Quoting Pipdealer
no one has posted here lately. Where is Golfer?
Hi P

I am still around and trading - was on leave in the Kgalagadi Transf. park where there is no cell phone receiption or internet connection. Just semi-desert and wildlife.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,606
  • Jun 15, 2011 5:27am Jun 15, 2011 5:27am
Quoting kevinpham
I was searching for a profitable intraday system and come to this thread. I have not tested it yet but by the principle of it, i think it is a sound system.

Anyone still using it?


thanks Phillip and Golfer and the system
Yes, I am still using it along with Vantage's system (as mentioned on this thread.)

BUT you should know when and how to use this system. Like I said before - this is a system to be trading on a 5min chart and you'll find A LOT of trading opportunities, many of them invalid.

It is all about market rhythm and I would suggest you study Phillip's 4h MACD system here on forex factory. Listen especially to the last few mp3 files loaded on the thread by himself (in April/May when he was on leave) in which he explain the market rhythm on the 4h chart. Excellent examples and explanations as usual.

What I am trying to do, it is identify the market rhythm on the 4h chart along with support/resistance level and trade accordingly using this 5min system (trading in the direction of a small trend (buy the dips and sell the rallies) as well as Vantage's system (looking for a minor/major turn around).

I hope it helps.
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,607
  • Jun 15, 2011 5:31am Jun 15, 2011 5:31am
Quoting Pipdealer
no one has posted here lately. Where is Golfer?
I just thought I posted enough examples of how I use this system - I don't see the need to post anymore examples. Also, I don't know if people really appreciate it. Therefore, I decided I'll wait for people to post their charts and ask for comments - I think providing comments on their charts would be more of value.

Enjoy the trading
Willem Forex recipe for success = Patience, discipline & hard work.
  • #7,608
  • Jun 22, 2011 8:25am Jun 22, 2011 8:25am
Quoting Golfer
Yes, I am still using it along with Vantage's system (as mentioned on this thread.)

BUT you should know when and how to use this system. Like I said before - this is a system to be trading on a 5min chart and you'll find A LOT of trading opportunities, many of them invalid.

It is all about market rhythm and I would suggest you study Phillip's 4h MACD system here on forex factory. Listen especially to the last few mp3 files loaded on the thread by himself (in April/May when he was on leave) in which he explain the market rhythm on the 4h chart....
Hi Golfer, I also follow Vantage's thread and was just wondering what you mean when you say 'looking for a minor/major turn around' ? what do you look for ?

Thanks
Dan
  • #7,609
  • Jun 23, 2011 1:34am Jun 23, 2011 1:34am
Quoting Golfer
I just thought I posted enough examples of how I use this system - I don't see the need to post anymore examples. Also, I don't know if people really appreciate it. Therefore, I decided I'll wait for people to post their charts and ask for comments - I think providing comments on their charts would be more of value.

Enjoy the trading
I appreciate the system (even if I switched to daily PA candle bars trading now) and most of all, I appreciate you and your helpful efforts.
  • #7,610
  • Jun 30, 2011 1:44pm Jun 30, 2011 1:44pm
Hi Guys, I have been trying this system for the past few weeks and have been having some success which is a nice change, thanks for the system.

Also have been using on the Aud/Usd with success, has anyone else tried this pair ?

cheers

  • #7,611
  • Jul 19, 2011 3:14pm Jul 19, 2011 3:14pm
Hello, long time ago i write a Expert Advisor for the Phil System.

Some people here get the first version, then i have not time to post here.

The EA work very well, And wow many years later the EA work well too.

We have integrate a lot options to the EA.

The EA is free for now.

If this is interesting for someone please visit my website an use the contact form to write me.

Best Regars
Mobsie
  • #7,612
  • Sep 16, 2011 9:28am Sep 16, 2011 9:28am
Hi guys,

I have been testing this system on M1 with some good success. Has anyone tried on M1?

Don't tell me this thread is dead? No one is posting anything over here. Is it because the setup is too simple and people are busy making money using this system? This whole weekend, I would be busy testing using simulator for EURO.

Regards
YFx
Prefer Price Action Method!
  • #7,613
  • Sep 16, 2011 3:06pm Sep 16, 2011 3:06pm
Hi There, I'm still using the system and its been going well, only using on Eur/Usd and GBP/Usd at this stage will try other currencies once I nail these ones

cheers and keep posting
  • #7,614
  • Sep 16, 2011 9:07pm Sep 16, 2011 9:07pm
Quoting Jed star
Hi There, I'm still using the system and its been going well, only using on Eur/Usd and GBP/Usd at this stage will try other currencies once I nail these ones

cheers and keep posting
Hi,

Have you or anyone else tried other time frames with this system with success? I think these two currencies (Euro and Cable) should generate enough trading opportunities.

First, I will try to learn this system on M5. Am still a newbie on Forex trading. Learn the skills needed to trade this system efficiently and then have an intention to test on M1. Because, M1 produces more trading opportunities than M5, comments?

I will try to post some charts and ask for comments.

Oh yes, I think I should also understand the 4H startegy from Philip.

Cheers!
Prefer Price Action Method!
  • #7,615
  • Sep 19, 2011 5:43am Sep 19, 2011 5:43am
This system works well. But, I have added few more criterias for the enteries. Am also testing, how to fine-tune the enteries using M1 charts.

I'm anxious to test the 4 hour system.

Thanks to Phillip and others, who have worked on this thread. Hope this thread will be alive.

I have decided to use 5 Min system for the whole week on demo trading.

Cheers
YFx
Prefer Price Action Method!
  • #7,616
  • Sep 19, 2011 5:48am Sep 19, 2011 5:48am
Quoting yameen.forex
This system works well. But, I have added few more criterias for the enteries. Am also testing, how to fine-tune the enteries using M1 charts.

I'm anxious to test the 4 hour system.

Thanks to Phillip and others, who have worked on this thread. Hope this thread will be alive.

I have decided to use 5 Min system for the whole week on demo trading.

Cheers
YFx
NO DOUBT. phillip's systems are among best ones . the longer time you use ,the more amazing you will find .
A chart helps those who can read it.
  • #7,617
  • Sep 19, 2011 8:02am Sep 19, 2011 8:02am
Quoting geniusztc
NO DOUBT. phillip's systems are among best ones . the longer time you use ,the more amazing you will find .
Could have been good entry on H1 based on the rules?
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Prefer Price Action Method!
  • #7,618
  • Sep 19, 2011 12:42pm Sep 19, 2011 12:42pm
Hey, this is a a very difficult game, don't try to do too much too soon,
what I suggest is stick to the 5min system, master it until you can do it with you eyes closed, then consider moving onto a new system.

I have been trading for a few years now and the biggest problem I have had is is staying out of the market - a major problem for newbies. Take your time only take the trades that meet all the rules

good luck
  • #7,619
  • Sep 19, 2011 10:28pm Sep 19, 2011 10:28pm
Quoting Jed star
Hey, this is a a very difficult game, don't try to do too much too soon,
what I suggest is stick to the 5min system, master it until you can do it with you eyes closed, then consider moving onto a new system.

I have been trading for a few years now and the biggest problem I have had is is staying out of the market - a major problem for newbies. Take your time only take the trades that meet all the rules

good luck
Thanks for the advise. Will practise only 5min system and try to master it.

Cheers
YFx
Prefer Price Action Method!
  • #7,620
  • Sep 27, 2011 8:59am Sep 27, 2011 8:59am
since a couple of weeks I'm trying this strategy, toghether with Vantage's 5 min and Philp's 4H MACD.

i think I'm getting the rythm, the patience and the discipline of them

pls, see my last trade today
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