The 5 minute TF S&R trading system

Stop to b e

And there it goes. Stopped out at BE. It actually went to +14 but retraced faster than i was able to TP while it was above +10

My entry was 82 even on Oanda target hit

I got b/e too chaps. Friday afternoon now, not too keen on trading it. Done ok so far though, sensible PA trading, I like it.

Yeah i went 82 -1. Its really my fault for not tpin anywhere above +10. I let myself be distracted.

If this 83 buy doesn't get entry soon i'm closin up shop for the day.

Ordered cancelled

Outstanding week 1 loss for .05% and 3 wins for 3% each net 8.5* plus the 2% last Friday puts me half way to monthly goal

Looks like you did this overnight but you put in a lot of hard work to test (back test and forward test) this system. Just goes to show where some consistancy will take you.

yes, good point gl. i'm in the midst of backtesting myself - it's not the easiest work and can be frustrating, but it is necessary if you want to be able to spot the signals.

Erasmus and really everyone else there are really only 2 setups. One is if we are trending just trade the pullback within the trend. The other is when we get a 2b, 123 which is.signifying a potential trend change just wait for the confirming process to form and trade the pullback. Now concerning s and d if the entries are also in these zones which pretty much is all the time well you have a high probabilty trade.

What do I do wrongly ?

hi snail here is my take on the 2 trades you took. Remember to be selective when trading both these trades were in a 30 pip total range so to get 15 is very tough there breally wasnt any trend. So for the sake of just price action which mighhelp you see better i have 2 charts. i will explain here then look at charts. In first trade price went sideways then went down 14 pips then it formed a 123 showing it was a false breakout. price went then the pullback. you can see a few more entrys on the way up also. before i get to your second trade price went up and formed another 123 and it broke and pulled back at 18 it did go down to 4 so maybe you get 2% win. now concerning you 2nd trade i dont know why you would enter where you did unless you took the whole consolidation as a 123 i would have took it as a breakout and when that happens i use the last highest closing price before it took out low. With all this said by just following the price action market tells you which way its going wheather up, down sideways

so snail do you understand the analylsis

Thanks FX for explanation. Will study in more detail later as tonight... In less than 1 hour we have here a New Year !!! and everybody here is shooting fireworks and firecrackers. Noisy noisy.....

happy new year just be selective if trend trade pullback if no trend stay out

Short 2

Move stop to b e

Just missed target by 1 closed with +10 for 2% win off of 123 break and pullback

I really want to long at 86