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The 5 minute TF S&R trading system

  • #1,381
  • Edited 10:06am Dec 27, 2012 9:02am | Edited 10:06am
Well what do you know about that thread still going. Hope everyone had a good christmas. Kudos to Good Looking for his expierience in trading by helping those get the ins and outs of trading. Welcome newcomer krmo and snail hope your trading is profitable. When i started posting in august i posted a lot of charts because a picture paints a 1000 words. Dont over complicate this. I forgot to mention Forhisglory heres a guy or gal dont know which but it seems new to trading following a set of rules to make trading decisions which culminate into making money which is why we are all here. So if something works to make money repeating rhe peocess over and over again is the logical thing to do. Thats what we call a job or going to work to do the same thing over and over again and gey paid.. So to answer the question of how many trades a day,how big is stop or profit or any other question just follow the rules outlined. Fhg backtested i think 4 yrs and i have been doing it for a little more tells you that it just works. I think he says it averaged 19% a month (i did a little better lol) so why change or add anything. May the pips be with youyou
  • #1,382
  • Dec 27, 2012 9:17am Dec 27, 2012 9:17am
Hi GL,
When you are reviewing the 15 min chart for the bigger picture, would you take a previous pivot into consideration as shown below?
Or do you just keep it in mind, but continue with the immediate trend (5 min)?
This is a 15 min chart zoomed out.

Update: Hi FXpivots, LOL, I just saw your post after I posted this!
So am I over thinking this?!!!!!

Attached Image (click to enlarge)
Click to Enlarge Name: 12-27-2012 7-08-16 AM.jpg Size: 117 KB


Thanks
KRMO
Attitude can reflect outcome in life and trading!
  • #1,383
  • Dec 27, 2012 9:21am Dec 27, 2012 9:21am
many thanks for sharing your ideas fxpivots. I'm currently in the process of backtesting from 2008 onwards. Each year is different.
Become the casino
  • #1,384
  • Dec 27, 2012 9:28am Dec 27, 2012 9:28am
Cinventing looking at higher time frames we now enter different teaching in forex. I believe all the info needed to make money is found on the chart your trading. One of the down falls of traders is they let to many things influence there trading decisions which causes doubts and confusion. Follow rules that makes consistent money don't add spokes to the wheel that's already rolling.
  • #1,385
  • Dec 27, 2012 9:31am Dec 27, 2012 9:31am
Thanks,
Advice taken. I can over complicate things at times!

KRMO
Kris
Attitude can reflect outcome in life and trading!
  • #1,386
  • Dec 27, 2012 9:36am Dec 27, 2012 9:36am
So did I Krmo used to trade 123a then this. If I were trading today I would have sold at 75 can anyone tell me why.
  • #1,387
  • Dec 27, 2012 9:42am Dec 27, 2012 9:42am
Quoting fxpivots
So did I Krmo to trade 123a then this. If I were trading today I would have sold at 75 can anyone tell me why.
75 Do not know. Would be selling at 72.

Good to have you back FX.
  • #1,388
  • Dec 27, 2012 9:42am Dec 27, 2012 9:42am
Quoting fxpivots
So did I Krmo used to trade 123a then this. If I were trading today I would have sold at 75 can anyone tell me why.
123 - retest of 2 break with 2 closes below?
I am on IBFX
Attached Image (click to enlarge)
Click to Enlarge Name: 12-27-2012 7-41-03 AM.jpg Size: 90 KB
Attitude can reflect outcome in life and trading!
  • #1,389
  • Dec 27, 2012 9:46am Dec 27, 2012 9:46am
You got it = 2 b break 2closed below and retest to point 2
  • #1,390
  • Dec 27, 2012 9:52am Dec 27, 2012 9:52am
To the left of your 123 was a 2b break and pullback
  • #1,391
  • Dec 27, 2012 9:54am Dec 27, 2012 9:54am
Quoting fxpivots
To the left of your 123 was a 2b break and pullback
Here correct?
Which would have got me in at my 3 point....

Attached Image (click to enlarge)
Click to Enlarge Name: 12-27-2012 7-53-16 AM.jpg Size: 87 KB
Attitude can reflect outcome in life and trading!
  • #1,392
  • Dec 27, 2012 9:57am Dec 27, 2012 9:57am
Quoting fxpivots
You got it = 2 b break 2closed below and retest to point 2
There were two 2b set ups in a row. What made you to take the second one and not the first ?

After 2nd 2b there was abc and then pullback. I was seeing that. Here at 72.
  • #1,393
  • Dec 27, 2012 10:02am Dec 27, 2012 10:02am
The first 2b where it made high of day now price went down to 63 before it pulled back so that would be my adjusted target. 2+% is better than 0%
  • #1,394
  • Dec 27, 2012 10:14am Dec 27, 2012 10:14am
Quoting fxpivots
The first 2b where it made high of day now price went down to 63 before it pulled back so that would be my adjusted target. 2+% is better than 0%
Is this it?

Attached Image (click to enlarge)
Click to Enlarge Name: 2B.jpg Size: 88 KB
Attitude can reflect outcome in life and trading!
  • #1,395
  • Dec 27, 2012 10:16am Dec 27, 2012 10:16am
Quoting krmo
123 - retest of 2 break with 2 closes below?
I am on IBFX
Attachment
Blind luck, heheh. I'm Joking.

Price was sideways and major trend was up.

The selloff that happened could not be foreseen unless we checked RSI divergences on 1HTF, at least, without any certainties of course.

It's not easy to see things that can be or not be, specialy on sideway markets like this one.

I think everyone are on winter holidays, according to OANDA Spreads higher than usual.

Congratulations Krmo for your eagle vision. You took a chance and won. That's the forex spirit.

Regards
  • #1,396
  • Dec 27, 2012 10:21am Dec 27, 2012 10:21am
Quoting onlyghost
Blind luck, heheh. I'm Joking.

Price was sideways and major trend was up.

The selloff that happened could not be foreseen unless we checked RSI divergences on 1HTF, at least, without any certainties of course.

It's not easy to see things that can be or not be, specialy on sideway markets like this one.

I think everyone are on winter holidays, according to OANDA Spreads higher than usual.

Congratulations Krmo for your eagle vision. You took a chance and won. That's the forex spirit.

Regards
Nope. No trade!
Actually not taking any trades until Jan 2nd.
Just trying to absorb and learn!!!!
Attitude can reflect outcome in life and trading!
  • #1,397
  • Dec 27, 2012 10:23am Dec 27, 2012 10:23am
Well onlyghost I beg to differ. In market structure hh hl makes for an uptrend till the hl gets taken out and if it's a good take out trend changea also supply area it
  • #1,398
  • Dec 27, 2012 10:27am Dec 27, 2012 10:27am
fxpivots, i use this system too and like you say it is a very good one. sometimes i trade on the break of 1 as opposed to 2nd, its like you say keep it simple so listen everyone do not moan to fxpips about this simple and profitable system and make it your own, just tweak it and hey ho you will be pips galore in. Before anyone says i do trade spikes and inside bars too, i chase money lol. take care all
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,399
  • Dec 27, 2012 10:29am Dec 27, 2012 10:29am
Quoting fxpivots
Well onlyghost I beg to differ. In market structure hh hl makes for an uptrend till the hl gets taken out and if it's a good take out trend changea also supply area it
well said, and if an inside bar is present go for it could well be a reversal
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,400
  • Dec 27, 2012 10:35am Dec 27, 2012 10:35am
Quoting fxpivots
Well onlyghost I beg to differ. In market structure hh hl makes for an uptrend till the hl gets taken out and if it's a good take out trend changea

Hi fxpivots, nice to meet you.

I agree with you.

The problem is to find when some hl gets taken out with a "good take out". This is the hard part of the business, in my opinion.

howsoever it's good to have you back to thread and reinforce the good team (GL, Snail69, Krmo) that keep this thread alive and updated. Sorry if i forgot other names.

Regards.
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