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The 5 minute TF S&R trading system

  • #1,461
  • Dec 28, 2012 5:54pm Dec 28, 2012 5:54pm
Quoting onlyghost
Hi erasmus66

I'm with you on that particular difficult.

IMHO i think FXPIVOTS may give us an hedge, refreshing his method.

Thanks
Hi Ghost. That is exact problem I was clarifying with FX a few posts back. ... Have a look.
  • #1,462
  • Dec 28, 2012 9:59pm Dec 28, 2012 9:59pm
Quoting onlyghost
Nice shot. I've to learn shoot like this.
Well, IMO better would be to go with the flow.... (Selective) Long at 3220 for about 12-13 pips , BE at 10 pips.

Anyhow congratz for successfull trade, albeit a lucky one.
  • #1,463
  • Dec 29, 2012 7:40am Dec 29, 2012 7:40am
Quoting snail69
Well, IMO better would be to go with the flow.... (Selective) Long at 3220 for about 12-13 pips , BE at 10 pips.

Anyhow congratz for successfull trade, albeit a lucky one.
Hi Snail69,

That trade was 50-50 and i agree you when you say it's better to go with the flow.

I wish you and everyone who share knowledge with us a happy new year.

Thanks.
  • #1,464
  • Edited Dec 30, 2012 12:18am Dec 29, 2012 6:53pm | Edited Dec 30, 2012 12:18am
Something on divergences.


http://www.trading-naked.com/Divergence.htm
  • #1,465
  • Dec 30, 2012 12:16am Dec 30, 2012 12:16am
Is this FX trying to teach us ?
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  • #1,466
  • Dec 30, 2012 12:17am Dec 30, 2012 12:17am
Up movement
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  • #1,467
  • Dec 30, 2012 7:02am Dec 30, 2012 7:02am
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you wont get simpler than this, 5 min chart and zoom in. see the highs/lows and trade them, thats a 20 ma on chart but it means nothing
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,468
  • Dec 30, 2012 8:10pm Dec 30, 2012 8:10pm
looks like your walking up stairs. you get the analogy
  • #1,469
  • Edited Dec 31, 2012 12:35am Dec 30, 2012 11:21pm | Edited Dec 31, 2012 12:35am
Quick 3% Trade
10 pip SL & TP.
Bounce off of previous level (support turned resistance) with a mini 123.
Took the break of 2 (watched the 1 min chart)

Attached Image (click to enlarge)
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I was watching for a break and retest of this consolidation.
Yellow box - arrow is retest.
Zoomed out 5 min chart

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Attitude can reflect outcome in life and trading!
  • #1,470
  • Dec 31, 2012 12:30am Dec 31, 2012 12:30am
Quoting krmo
Quick 3% Trade
10 pip SL & TP.
Bounce off of previous level (support turned resistance) with a mini 123.
Took the break of 2 (watched the 1 min chart)

Attachment

I was watching for a break and retest of this consolidation.
Zoomed out 5 min chart

Attachment
Be careful with the 1 minute chart. Often times consolidation on the 1 min can look like valid entries and end up taking pips.
  • #1,471
  • Dec 31, 2012 12:33am Dec 31, 2012 12:33am
Quoting Good Lookin
Be careful with the 1 minute chart. Often times consolidation on the 1 min can look like valid entries and end up taking pips.
Thanks for the heads up!
Attitude can reflect outcome in life and trading!
  • #1,472
  • Dec 31, 2012 12:40am Dec 31, 2012 12:40am
Krmo, good that you got it. As GL is saying, carefull with these shallow set ups.

Personally will take only, "selective" 12-15 pips loaded take outs...as suggested by FX.

Apart from that, sometimes divergency trade.
  • #1,473
  • Dec 31, 2012 1:00am Dec 31, 2012 1:00am
Quoting snail69
Krmo, good that you got it. As GL is saying, carefull with these shallow set ups.

Personally will take only, "selective" 12-15 pips loaded take outs...as suggested by FX.

Apart from that, sometimes divergency trade.
Yeah, you know hindsight!
I have the M15, M5 and M1 charts open.
I take the trades based on the M5.
Use the M15 for a bigger picture.
And the M1 more for looking for early signs of momentum.

I broke or more like forgot to check one of my own rules.
I did not have at least 15 pips from entry to next level down.
I am only taking 10 pip trades right now at 3%.
So I want to have the potential for 15-18 pips available to me.

Each trade (win or lose) is progress as long as I learn from it!
Attitude can reflect outcome in life and trading!
  • #1,474
  • Dec 31, 2012 5:05am Dec 31, 2012 5:05am
All the best to everyone in the coming year 2013 !
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  • #1,475
  • Dec 31, 2012 9:07am Dec 31, 2012 9:07am
happy new year everybody! wishing you all the best in 2013
Become the casino
  • #1,476
  • Dec 31, 2012 9:18am Dec 31, 2012 9:18am
Year of the Snake?!
We will wiggly our way through the market this coming year!
Happy New Year all!........
Attitude can reflect outcome in life and trading!
  • #1,477
  • Jan 1, 2013 5:47am Jan 1, 2013 5:47am
Best Wishes to everyone for 2013
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,478
  • Jan 1, 2013 6:42am Jan 1, 2013 6:42am
Happy new year all!
good luck to the numberless clear tradings
Balucaptdo not fight, be in the business!
  • #1,479
  • Jan 1, 2013 11:24pm Jan 1, 2013 11:24pm
Today trades.

1st - closed for BE - did not like possible abc forming .

2nd - all in place - as per selective FX rules - winner +15 ( even spread is 2-3 pips on Oanda)

Again, FX, thank you for showing the way !
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  • #1,480
  • Jan 2, 2013 12:37am Jan 2, 2013 12:37am
Quoting snail69
Today trades.

1st - closed for BE - did not like possible abc forming .

2nd - all in place - as per selective FX rules - winner +15 ( even spread is 2-3 pips on Oanda)

Again, FX, thank you for showing the way !
Glad you can see it clearly, easy part is over! Now go make some goals and achieve them!
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