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The 5 minute TF S&R trading system

  • #1,581
  • Jan 4, 2013 9:47am Jan 4, 2013 9:47am
You guys are diehard traders
  • #1,582
  • Jan 4, 2013 9:55am Jan 4, 2013 9:55am
Quoting fxpivots
Yes snail that's the area and if news candle wasn't happening then yes NFL day is tricky even though this is a different news it's still NFL day
Thanks FX. Will keep it in mind.

Nice weekend to all.
  • #1,583
  • Jan 4, 2013 9:55am Jan 4, 2013 9:55am
Gerry on your chart i did see the 123 but if i understand it correctly the 2 point was 19 and price went up to 25 and even though we had 2 closes above the 6 pip differnce would not allow for a target to get hit so i would let it go and let the market confirm a trend change
  • #1,584
  • Jan 4, 2013 9:57am Jan 4, 2013 9:57am
Hey fhg nice call rookie lol
  • #1,585
  • Jan 4, 2013 10:02am Jan 4, 2013 10:02am
thanks learning that being selective will be very rewarding. If i am not clear i stay away i know i only need 6 or 7 winning trades a month to reach my goal.
  • #1,586
  • Jan 4, 2013 10:04am Jan 4, 2013 10:04am
And you will reach goal. Who says patience isn't a virtue
  • #1,587
  • Jan 4, 2013 10:06am Jan 4, 2013 10:06am
Quoting forhisglory
Gerry on your chart i did see the 123 but if i understand it correctly the 2 point was 19 and price went up to 25 and even though we had 2 closes above the 6 pip differnce would not allow for a target to get hit so i would let it go and let the market confirm a trend change
Hi forhisglory,

Actually I never even looked at the 'reality' of it. I was just trying to correct the original chart (about 3 charts ago) that I thought were all wrong... but maybe I'm wrong... I'm going to do the same below for Hycel. Anyone welcome to add or change mine, please. My chart attachment keeps crashing.
I'll try in a new post
Attached Image (click to enlarge)
Click to Enlarge Name: wrong.gif Size: 36 KB
  • #1,588
  • Jan 4, 2013 10:07am Jan 4, 2013 10:07am
2nd one...
Attached Image (click to enlarge)
Click to Enlarge Name: wrong2.gif Size: 35 KB
  • #1,589
  • Jan 4, 2013 10:10am Jan 4, 2013 10:10am
Ok here's my point, your first chart is correct Gerry but here's the major question is there anything that can prevent me from hitting my target? If the answer is yes what we do? Your second chart we already discussed that was news trade
  • #1,590
  • Jan 4, 2013 10:15am Jan 4, 2013 10:15am
Quoting fxpivots
Ok here's my point, your chart is correct Gerry but here's the major question is there anything that can prevent me from hitting my target? If the answer is yes what we do?
yep, thanks. I agree (now I get it)... there must be room for movement to target, else no trade.

The basic charts that other people supplied earlier had 123 the wrong way round, so I was just trying to guide that on the charts they supplied... I should have looked at target / number as well.

Thanks

Btw... after posting the two charts for hycel I doubted that there were two possible outcomes. Was that right? Even though I drew in some action.
  • #1,591
  • Jan 4, 2013 10:17am Jan 4, 2013 10:17am
Quoting fxpivots
Ok here's my point, your first chart is correct Gerry but here's the major question is there anything that can prevent me from hitting my target? If the answer is yes what we do?
Second chart nothing, first, peak at 26 ?
  • #1,592
  • Jan 4, 2013 10:18am Jan 4, 2013 10:18am
Price can unltimately go one way or the other. That what I mean about selective trading. In a word clarity
  • #1,593
  • Jan 4, 2013 10:20am Jan 4, 2013 10:20am
You got it snail. Guys right under snails quotes reads this: wait execute manage do these 3 things are you will be profitable
  • #1,594
  • Jan 4, 2013 10:25am Jan 4, 2013 10:25am
well said Wait Execute and manage trade
  • #1,595
  • Jan 4, 2013 10:28am Jan 4, 2013 10:28am
Quoting forhisglory
well said Wait Execute and manage trade

may be later will add - accumulate.... Lol
  • #1,596
  • Jan 4, 2013 10:31am Jan 4, 2013 10:31am
Hey snail you do those 3 things you will accumulate.
  • #1,597
  • Jan 4, 2013 10:33am Jan 4, 2013 10:33am
Snail, you're incorrigible you said good-bye ages ago!

I hope you all have a good weekend. Thanks for help today
  • #1,598
  • Jan 4, 2013 10:34am Jan 4, 2013 10:34am
When i found this thread and backtested it my goal was to follow rules perfectly since i had no clue how to trade. I also couldnt figure out selective trades so by default if something wasnt clear to me i stayed out. I didnt even realise thats what i was supposed to do.
  • #1,599
  • Jan 4, 2013 10:36am Jan 4, 2013 10:36am
Isn't it true in all aspects of life? Most of the time we just react to things even if there not clear.
  • #1,600
  • Jan 4, 2013 10:39am Jan 4, 2013 10:39am
FxP Thank you for come back this thread! I slowly understand this setup. Sorry it slowly...

Balucapt
Balucaptdo not fight, be in the business!
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