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The 5 minute TF S&R trading system

  • #661
  • Oct 16, 2012 5:20am Oct 16, 2012 5:20am
Quoting goldfish3
indeed not. Still in it though.
Stopped out -15
  • #662
  • Oct 16, 2012 5:24am Oct 16, 2012 5:24am
Yep, I just gave it all back too. That's my problem... so many false breaks. Told to be SELECTIVE which is what I want to be, but how to select is the problem



I have no doubt I'll get there, but the frustration drives me nuts!

I have to spend some family time now. Will be here later if I have time after kids in bed.

Good trading
  • #663
  • Oct 16, 2012 6:22am Oct 16, 2012 6:22am
in at 8
  • #664
  • Oct 16, 2012 6:29am Oct 16, 2012 6:29am
Quoting T.h.p
in at 8
Again an excelent call THP ! Keep them calling. Actually is good you call them late. It will not become a signal service and still will greatly help others to learn !
  • #665
  • Oct 16, 2012 6:43am Oct 16, 2012 6:43am
Quoting T.h.p
in at 8
Sweet Call. would you reckon the trade I took on the 123 was a valid one or not so much?
  • #666
  • Oct 16, 2012 6:50am Oct 16, 2012 6:50am
WOW T.h.p! Good one
  • #667
  • Oct 16, 2012 6:52am Oct 16, 2012 6:52am
that was easy enough
  • #668
  • Oct 16, 2012 6:54am Oct 16, 2012 6:54am
time for breakfast
  • #669
  • Oct 16, 2012 7:11am Oct 16, 2012 7:11am
Hi , i'm new here , actually i been followng this thread here but didn't comment coz i been practicing on this method for awhile . today i profited 15 pips already , at 1.2970 EU . Thanks Fxpivots although u r not here , hopefully u be back.
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  • #670
  • Oct 16, 2012 7:21am Oct 16, 2012 7:21am
unless something changes the next place to long is at 17 you all see that
  • #671
  • Oct 16, 2012 7:50am Oct 16, 2012 7:50am
things might be changing. here's my take if this forms a 123 and breaks we can trade the retracement to go short also if price comes to 17 that's the long area
  • #672
  • Oct 16, 2012 8:31am Oct 16, 2012 8:31am
T.H.P and Kellypero, good trades.

Goldfish3, 2 things stick out with that trade.
1st is that you win some and you lose some. It did look like a good place to short.
2nd is price was atleast 15 pips away from the recent low allowing you to tp on a retest but because the previously established trend was so strong, you got stopped out. It would have been better to wait for that low to have been broken and then trade the pullback to it.
  • #673
  • Oct 16, 2012 8:51am Oct 16, 2012 8:51am
Quoting Good Lookin
T.H.P and Kellypero, good trades.

Goldfish3, 2 things stick out with that trade.
1st is that you win some and you lose some. It did look like a good place to short.
2nd is price was atleast 15 pips away from the recent low allowing you to tp on a retest but because the previously established trend was so strong, you got stopped out. It would have been better to wait for that low to have been broken and then trade the pullback to it.
thanks for the response GL....
  • #674
  • Oct 16, 2012 9:32am Oct 16, 2012 9:32am
Short at 42, if it gets there... what do you think?
  • #675
  • Oct 16, 2012 9:42am Oct 16, 2012 9:42am
notice that long at 17 just missed other wise that would have won
  • #676
  • Oct 16, 2012 9:45am Oct 16, 2012 9:45am
T.h.p - my chart didn't show pullback for 17... I was comparing charts with someone earlier, couldn't believe the difference. On daily.

short 31? worried that trend levelling out, so probably won't do it
  • #677
  • Oct 16, 2012 10:00am Oct 16, 2012 10:00am
17 was last high before price went up. remember r turns into s
  • #678
  • Oct 16, 2012 10:06am Oct 16, 2012 10:06am
Quoting T.h.p
notice that long at 17 just missed other wise that would have won
How so?

We haven't even retraced 10 pip from the 17 level and 17 just got hit 10 mins ago
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  • #679
  • Oct 16, 2012 10:19am Oct 16, 2012 10:19am
Well, if I did go long 17 that would have been nice...

I didn't think the action 15 mins ago would have counted as a pullback, since the other 17 was a few hours ago. Clearly it would have worked!

I still feel maybe 31 is a short.

I'm off to bed. G'night everyone. Manana!
  • #680
  • Oct 16, 2012 10:31am Oct 16, 2012 10:31am
when price makes a high then price goes up considerately then kinda tops out that last high of 17 needed to be tested again
remember r turns to s
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