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The 5 minute TF S&R trading system

  • #881
  • Oct 29, 2012 7:14am Oct 29, 2012 7:14am
yes sold 02 should have taken 9 when it double bottom no harm no foul be on to next trade
  • #882
  • Oct 29, 2012 7:16am Oct 29, 2012 7:16am
Took +2.7 as was late entry too . True, there is always another set up.
  • #883
  • Oct 29, 2012 7:53am Oct 29, 2012 7:53am
well market is consolidating either highs get taken out or lows until then i will just relax
  • #884
  • Oct 29, 2012 8:20am Oct 29, 2012 8:20am
Quoting T.h.p
well market is consolidating either highs get taken out or lows until then i will just relax
Hi Thp

Whilst we are waiting for a break of high or low can I check where you have them marked? Good resistance at 1.2915 and last low 1.2885 as per attached chart??

So we wait break of those levels then enter on retest? Or would you enter as they are broken???

Cheers Clive
Attached Image (click to enlarge)
Click to Enlarge Name: todays high and low.gif Size: 29 KB
Feel the Fear and do it anyway!!!
  • #885
  • Oct 29, 2012 8:46am Oct 29, 2012 8:46am
thats about where we stand might not get any movement with the storm in place and wall st closed
  • #886
  • Oct 29, 2012 10:39am Oct 29, 2012 10:39am
How about buying this at 1.2915 broken last LH and retesting

Not playing ball on 1 min chart so will hang fire until 1 min reverses
Feel the Fear and do it anyway!!!
  • #887
  • Oct 29, 2012 10:53am Oct 29, 2012 10:53am
Nope didn't like the look of that, I always drop down to 1 min to get some confirmation of a price direction change. But didn't happen so let it go, just as well but will have another look at the 1.29000 level.

Mind you its a bit quiet due to Hurricane and no Wall street I guess????
Feel the Fear and do it anyway!!!
  • #888
  • Oct 29, 2012 11:08am Oct 29, 2012 11:08am
I closed the chart down 2 hrs ago. NY storm, wall st closed, sideways action, no trend these are all confirmations to me to stay away. Heres a thought if you get 2 wins a week think of the money you would make by trading each at 3%. Fxpivots emphisized it and so do i. This is the game plan to make a lifetime of income its your choice to use it tweak it or do whatever you want with it. But for me if something works consistently for a very long time (that does not mean a few months but yrs) they why change it.
  • #889
  • Oct 29, 2012 11:20am Oct 29, 2012 11:20am
Quoting T.h.p
I closed the chart down 2 hrs ago. NY storm, wall st closed, sideways action, no trend these are all confirmations to me to stay away. Heres a thought if you get 2 wins a week think of the money you would make by trading each at 3%. Fxpivots emphisized it and so do i. This is the game plan to make a lifetime of income its your choice to use it tweak it or do whatever you want with it. But for me if something works consistently for a very long time (that does not mean a few months but yrs) they why change it.
Know what you mean its deadly quiet and not the ideal climate for little old price action traders like us. No reaction whatsoever to 1.29000 level!! That tells the story.

So like you say lets leave it for another day. Big part of trading is knowing when to walk away, to trade pullbacks you need good strong price moves.

Oh well tomorrow is another day.
Feel the Fear and do it anyway!!!
  • #890
  • Oct 29, 2012 11:29am Oct 29, 2012 11:29am
thats right clive. I personally dont like to lose. That may sound ridiculous cause noone wants to lose. But you can see by my trading i very rarely have a loss and i am not selling anything or promoting anything just trying to help traders win. So it seems to me though traders dont like to lose the question remains why do 95% of them lose? This should alarm all traders to see if they are in the 95% and look to get into the 5% catagory. But we all know the answer to that question.
  • #891
  • Oct 29, 2012 4:46pm Oct 29, 2012 4:46pm
Oh! I Up to date this thread. Tomorrow London open, I join in the living trading and I want to learn it this system. Everybody trading only in NY sessions?

Balucapt
Balucaptdo not fight, be in the business!
  • #892
  • Oct 29, 2012 11:02pm Oct 29, 2012 11:02pm
Balucapt, would suggest to start from Frankfurt open or even from 6 am GMT.

Check charts. set ups are more frequent there.

Edit: And of course US session due to its higher volatility.
  • #893
  • Oct 30, 2012 2:14am Oct 30, 2012 2:14am
@ Balucapt - this was a rather quick morning (European) trade

+15
Attached Image (click to enlarge)
Click to Enlarge Name: today trades 30-oct- 2012.gif Size: 19 KB
  • #894
  • Oct 30, 2012 3:47am Oct 30, 2012 3:47am
Quoting snail69
@ Balucapt - this was a rather quick morning (European) trade

+15
Good one Looks like I need to get up earlier


Looking at hrly there could be a typical London morning reversal lining up here at 1.29500 bang on 50% fib too!! So keep an eye out for it.
Attached Image (click to enlarge)
Click to Enlarge Name: london reversal.gif Size: 33 KB
Feel the Fear and do it anyway!!!
  • #895
  • Oct 30, 2012 3:57am Oct 30, 2012 3:57am
Sorry I know its not exactly the strategy here but couldn't resist it!!
Attached Image (click to enlarge)
Click to Enlarge Name: don't say i didn't warn you!!.gif Size: 31 KB
Feel the Fear and do it anyway!!!
  • #896
  • Edited 5:12am Oct 30, 2012 4:04am | Edited 5:12am
Good one Nail69!

Unfortunately I am a busdriver, I take the people to work into an office block. I can sit later to the market only so. but here an entry of mine: 2b and weekly pivot R. TP at today open!

Balucapt

Attached Image (click to enlarge)
Click to Enlarge Name: setup4.gif Size: 10 KB


I see risk if no clear strategy setup. This is nice sideway...

Attached Image (click to enlarge)
Click to Enlarge Name: setup4_risk.gif Size: 10 KB
Balucaptdo not fight, be in the business!
  • #897
  • Oct 30, 2012 4:07am Oct 30, 2012 4:07am
Yes Clive, I think good one, but not exactly strategy!!

Balucapt
Balucaptdo not fight, be in the business!
  • #898
  • Oct 30, 2012 4:13am Oct 30, 2012 4:13am
Quoting Balucapt
Yes Clive, I think good one, but not exactly strategy!!

Balucapt
Yep you are right will probably get burned anyway but will keep to strategy in future, sorry thread owner wherever you are????
Feel the Fear and do it anyway!!!
  • #899
  • Oct 30, 2012 4:28am Oct 30, 2012 4:28am
Quoting clivepackham
Yep you are right will probably get burned anyway but will keep to strategy in future, sorry thread owner wherever you are????
I would like to practise the strategy fundamentally and to do the dirty, but the strong levels according to me worthy to differ tiny one from him. Although the strategy consisted in his majority because of that here.

Balucapt
Balucaptdo not fight, be in the business!
  • #900
  • Oct 30, 2012 4:31am Oct 30, 2012 4:31am
Sorry if bad english, I hope for it are you undestand...

Balucapt
Balucaptdo not fight, be in the business!
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