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The 5 minute TF S&R trading system

  • #1,621
  • Jan 6, 2013 7:21pm Jan 6, 2013 7:21pm
only problem with that golferguy is where is confirmation that breakout is not false
  • #1,622
  • Jan 7, 2013 12:03am Jan 7, 2013 12:03am
In my view, and this is only my view, there is no false break. It broke and the trade just did not work out. That is where my money management comes into play.
PIP'N
  • #1,623
  • Jan 7, 2013 12:44am Jan 7, 2013 12:44am
Quoting golferguy99
In my view, and this is only my view, there is no false break. It broke and the trade just did not work out. That is where my money management comes into play.
Could you advise on your mm style ?
  • #1,624
  • Jan 7, 2013 1:01am Jan 7, 2013 1:01am
I always have a 1:2 risk/reward target. That is the key for me.
PIP'N
  • #1,625
  • Edited 7:18am Jan 7, 2013 6:16am | Edited 7:18am
1.30365 short - wrong call too close to peak - not selective - might get lucky here

Got some pips, but not a good trade...
  • #1,626
  • Jan 7, 2013 6:45am Jan 7, 2013 6:45am
Well back to work 40 pip range for today will wait for trend
  • #1,627
  • Jan 7, 2013 7:23am Jan 7, 2013 7:23am
Big guys are duking it out. Someone needs a knockout punch, so we can jump on board!
  • #1,628
  • Jan 7, 2013 7:53am Jan 7, 2013 7:53am
Immediate Trend vs Bigger picture.

Sometimes I get caught up in trying to find a trade and forget the bigger picture.
This can cause me to be less selective.
This is a 5 min zoomed out to see the bigger picture..
Does anyone see the bigger 123.

As I type look at what is happening?!!!
Now looking back to the immediate trend.

Attached Image (click to enlarge)
Click to Enlarge Name: Bigger.jpg Size: 96 KB
Attitude can reflect outcome in life and trading!
  • #1,629
  • Jan 7, 2013 8:07am Jan 7, 2013 8:07am
Quoting FFJeternal
Big guys are duking it out. Someone needs a knockout punch, so we can jump on board!
Ask and ye shall receive
  • #1,630
  • Jan 7, 2013 8:11am Jan 7, 2013 8:11am
will buy @ 30435 if it pulls back
Become the casino
  • #1,631
  • Jan 7, 2013 8:35am Jan 7, 2013 8:35am
Quoting Good Lookin
Ask and ye shall receive

Indeed!
  • #1,632
  • Jan 7, 2013 9:56am Jan 7, 2013 9:56am
Hi all,

Anyone have a win tonight?
  • #1,633
  • Jan 7, 2013 10:05am Jan 7, 2013 10:05am
Quoting Juke
Hi all,

Anyone have a win tonight?

i went long e/u a few minutes ago due to daily candle being broken and inside bar broken
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #1,634
  • Jan 7, 2013 10:17am Jan 7, 2013 10:17am
As per rules there was NO trades today
  • #1,635
  • Jan 7, 2013 11:29am Jan 7, 2013 11:29am
No trades for me.
Close but no cigar!
The one good bounce from a level did not leave enough pips to reach target (12 pips).
Enough room for me means either +15 pips for a 10 pip trade,
but prefer +20 to get 15 pip trade.
Sometimes you miss some good moves, but more will come.
Selective as discussed previously!

Remember 7 trades per month at 3% = 21% growth in your account......

Attached Image (click to enlarge)
Click to Enlarge Name: 1-7-2013 9-14-25 AM.jpg Size: 88 KB
Attitude can reflect outcome in life and trading!
  • #1,636
  • Jan 7, 2013 11:41am Jan 7, 2013 11:41am
Quoting krmo
No trades for me.
Close but no cigar!
The one good bounce from a level did not leave enough pips to reach target (12 pips).
Enough room for me means either +15 pips for a 10 pip trade,
but prefer +20 to get 15 pip trade.
Sometimes you miss some good moves, but more will come.
Selective as discussed previously!

Remember 7 trades per month at 3% = 21% growth in your account......

Attachment

KRMO that is exactly the trade I was looking for.

Depending on how the next 5-15 minutes plays out, we possibly have a 2b divergence...
  • #1,637
  • Jan 7, 2013 2:23pm Jan 7, 2013 2:23pm
For discussion... what are your thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: 07jan13question.gif Size: 39 KB
  • #1,638
  • Jan 7, 2013 2:38pm Jan 7, 2013 2:38pm
Quoting FFJeternal
For discussion... what are your thoughts?
My opinion (and it is just mine!!!):

If you zoom out your 5 min chart and look to the left there is some resistance at that level. (caution)
Also there has been a strong move up (buying exhausted), so I would want to see a deeper pullback to demand before going long.
Technically your entry long would have been the touch 4 candles to the left of your arrow.
At that point you had your closes above and a retest of the level.

I passed on that one.

Hope that helps!

Kris
Attitude can reflect outcome in life and trading!
  • #1,639
  • Jan 7, 2013 2:47pm Jan 7, 2013 2:47pm
Quoting krmo
My opinion (and it is just mine!!!):

If you zoom out your 5 min chart and look to the left there is some resistance at that level. (caution)
Also there has been a strong move up (buying exhausted), so I would want to see a deeper pullback to demand before going long.
Technically your entry long would have been the touch 4 candles to the left of your arrow.
At that point you had your closes above and a retest of the level.

I passed on that one.

Hope that helps!

Kris
I appreciate it, and you're absolutely correct about entry time.
  • #1,640
  • Jan 7, 2013 8:18pm Jan 7, 2013 8:18pm
Quoting krmo
No trades for me.
Close but no cigar!
The one good bounce from a level did not leave enough pips to reach target (12 pips).
Enough room for me means either +15 pips for a 10 pip trade,
but prefer +20 to get 15 pip trade.
Sometimes you miss some good moves, but more will come.
Selective as discussed previously!

Remember 7 trades per month at 3% = 21% growth in your account......

Attachment
Krmo, why you measure that way ? There is no valley in the way up for price to go and it went there. Just my 2c.
I took trade but as flag broke, but thats another story.
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