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The 5 minute TF S&R trading system

  • #1,721
  • Edited 9:33am Jan 14, 2013 8:29am | Edited 9:33am
Quoting Good Lookin
BE as well but i took the move down to BE from a SD zone so i'm up 10 pips
Midpivot at 3360 ?
  • #1,722
  • Jan 14, 2013 8:54am Jan 14, 2013 8:54am
Quoting snail69
Midpivot at 3360 ?
I don't use pivs. I just look for big clean moves and wait for price to return to the area and channel a bit. Then i get in at the edges of that channel in the direction of the original move.
  • #1,723
  • Jan 14, 2013 9:26am Jan 14, 2013 9:26am
snail, gl, fx is this the trade you took earlier?
Become the casino
  • #1,724
  • Jan 14, 2013 9:27am Jan 14, 2013 9:27am
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd5Min14Jan13.GIF Size: 31 KB
Become the casino
  • #1,725
  • Jan 14, 2013 9:41am Jan 14, 2013 9:41am
Entry was 50 on pullback from low of 35
  • #1,726
  • Jan 14, 2013 9:45am Jan 14, 2013 9:45am
PO long @ 56?

edit: PO modified to 58 with new close
  • #1,727
  • Jan 14, 2013 9:58am Jan 14, 2013 9:58am
EU is dead this morning, probably waiting for Bernanke later at 4 pm EST

Also having an Obama press conference at 11:30 EST
  • #1,728
  • Jan 14, 2013 10:01am Jan 14, 2013 10:01am
cheers fx - it's taking me a while to spot the patterns but the more i study the graphs the better i get.
Become the casino
  • #1,729
  • Jan 14, 2013 10:55am Jan 14, 2013 10:55am
Stops at BE lets see if it hits profits
  • #1,730
  • Jan 14, 2013 10:58am Jan 14, 2013 10:58am
Quoting Good Lookin
Stops at BE lets see if it hits profits
Decided to close it at +11

up 4% for the day.

Update: Price would have hit my 15 ..... but i'm still up 4%
  • #1,731
  • Jan 14, 2013 1:40pm Jan 14, 2013 1:40pm
1st trade
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14th 1.PNG Size: 53 KB


2nd trade
Attached Image (click to enlarge)
Click to Enlarge Name: jan 14th 2.PNG Size: 55 KB

Above chart is the 2nd trade setup. I got out at +11 because price started stalling just above the previous high so i took my profits.
  • #1,732
  • Jan 14, 2013 7:48pm Jan 14, 2013 7:48pm
Quoting Good Lookin
1st trade
Attachment

2nd trade
Attachment
Above chart is the 2nd trade setup. I got out at +11 because price started stalling just above the previous high so i took my profits.

Uh, GL, it means you were exposed 6% at a time.

Otherwise, great trading as usual.

Always keen to learn from you guys - FX and GL. (alfabetical order...)

I did not take second trade, was a bit late here and got my % earlier from other system.
  • #1,733
  • Jan 14, 2013 8:14pm Jan 14, 2013 8:14pm
Quoting Good Lookin
1st trade
Attachment

2nd trade
Attachment
Above chart is the 2nd trade setup. I got out at +11 because price started stalling just above the previous high so i took my profits.
GL, on the first trade, do I understand that you sold at second line, went into negative, then closed when it returned to BE. Then you entered the same trade at the same level again? And second one was 10 pip winner.
  • #1,734
  • Jan 14, 2013 11:16pm Jan 14, 2013 11:16pm
Quoting snail69
Uh, GL, it means you were exposed 6% at a time.

Otherwise, great trading as usual.

Always keen to learn from you guys - FX and GL. (alphabetical order...)

I did not take second trade, was a bit late here and got my % earlier from other system.
It's 2 separate accounts. 3% on account balance over 15 pips and 2% of the other account balance over 10 pips. Comes out to about 1% over ten pips each if you take into consideration both accounts. Give or take 0.2% this quarter. I keep the two accounts for different reasons so i've been compounding one and withdrawing from the other.
  • #1,735
  • Jan 14, 2013 11:22pm Jan 14, 2013 11:22pm
Quoting Gerry
GL, on the first trade, do I understand that you sold at second line, went into negative, then closed when it returned to BE. Then you entered the same trade at the same level again? And second one was 10 pip winner.
I sold at the second line and while still in the trade took a higher short from the SD level while still negative in the first trade. It was coincidence that my TP from the SD trade and the BE from the pivot trade were so close.
  • #1,736
  • Jan 15, 2013 4:17am Jan 15, 2013 4:17am
long @ 33705?
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  • #1,737
  • Jan 15, 2013 4:17am Jan 15, 2013 4:17am
Attached Image (click to enlarge)
Click to Enlarge Name: EurUsd5Min15Jan13.GIF Size: 29 KB
Become the casino
  • #1,738
  • Jan 15, 2013 4:23am Jan 15, 2013 4:23am
Quoting erasmus66
Attachment

Believe could be a good one - or 71
  • #1,739
  • Jan 15, 2013 5:16am Jan 15, 2013 5:16am
Quoting snail69
Believe could be a good one - or 71
Hmm unfortunately it went south quickly..

I zoomed out my chart and I'm seeing a big sideways chanel between 3325 and 3400. Since we are near the bottom of the chanel, we should now look for the uptrend I think.
  • #1,740
  • Jan 15, 2013 5:28am Jan 15, 2013 5:28am
couldn't have got that more wrong
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