What is the best trading system on M5 timeframe? | Forex Factory

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What is the best trading system on M5 timeframe?

  • #1
  • First Post: Aug 16, 2013 7:08pm Aug 16, 2013 7:08pm
I'm looking for trading system on 5 minutes chart. but it seems all doesn't work for me.

Can anyone suggest me a profitable template for me?

P.S. No repaint please
I want to be rich.
  • #2
  • Aug 16, 2013 8:24pm Aug 16, 2013 8:24pm
Quoting eurusdthb
I'm looking for trading system on 5 minutes chart. but it seems all doesn't work for me. Can anyone suggest me a profitable template for me? P.S. No repaint please
accident waiting to happen (account blow out)
If you don't realize idiotic nature of your request you will not last long.
In trading, you have to be defensive and aggressive at the same time
  • #3
  • Aug 16, 2013 10:09pm Aug 16, 2013 10:09pm
Quoting Davit
{quote} accident waiting to happen (account blow out) If you don't realize idiotic nature of your request you will not last long.
Ok sir, it can be either repaint or non-repaint. not put me down like this -*-
I want to be rich.
  • #4
  • Aug 16, 2013 11:52pm Aug 16, 2013 11:52pm
Quoting eurusdthb
{quote} Ok sir, it can be either repaint or non-repaint. not put me down like this -*-

Its not putting you down!I am trying to help you wise up.
1st off obviously you are a newbie and as newbie you should NOT trade 5min chart.Its guaranteed to blast you away.You are under an illusion that some indicator is going to help you on 5min! Nope
All indicators are lagging! specially at 5min basically you are trading with order flow,market randomness,spikes etc.
Seriously you need to understand market structure as basic requirement to trade on any time frame

Please graduate from here
http://www.babypips.com/
In trading, you have to be defensive and aggressive at the same time
  • #5
  • Aug 17, 2013 2:02am Aug 17, 2013 2:02am
Well, many are having success in M5 trading with:

http://www.forexfactory.com/showthread.php?t=373796

Forget about repainting issues as it has been dealt with within the thread. Only members with 10+v are allowed to post reply to the thread to prevent lazy newbies from asking questions that have been answered and not bother to read the thread. From time to time, members can "apply" to be able to post on the thread. Ask Realjumper!

Long term consist of series of short term events. What happens in H4, D1, W1 or even Monthly started in M5 or M1 or even seconds chart. Even Al Brooks trade naked with PA on M5! Check it out:

http://www.brookspriceaction.com/


Cheers!
福 子 Victor V
  • #6
  • Aug 17, 2013 2:50am Aug 17, 2013 2:50am
It might be manual, but its guaranteed to work. Merlin's AmAzing Strat http://www.forexfactory.com/showthread.php?t=405
  • #7
  • Aug 19, 2013 2:42am Aug 19, 2013 2:42am
I think that if you want to trade on 5 min chart and scalp then it`s too "noisy" .
1. Watch price action or indicator on higher timeframe. (I am watching 1h and 4h charts)
2. Take the trade if you see reversal signals on support, resistance level on 5 min graph.
I hope it helps
  • #8
  • Aug 20, 2013 4:50am Aug 20, 2013 4:50am
Quoting eurusdthb
I'm looking for trading system on 5 minutes chart. but it seems all doesn't work for me. Can anyone suggest me a profitable template for me? P.S. No repaint please
EA may be an option. But don't know a good EA.

If you can find a manual system at least you know wht you are doing.
  • #9
  • Aug 20, 2013 1:40pm Aug 20, 2013 1:40pm
Buy the Forex Kit for Beginners, you're lucky they come in one flavor only : 5 min
  • #10
  • Aug 21, 2013 9:27am Aug 21, 2013 9:27am
Initially I also tried different different scalping system mostly for 05min TF. But couldn't find any profitable manual or automated system.
I ended up with losing some money.

So suggest you to try finding systems higher TFs.
  • #11
  • Aug 21, 2013 11:19pm Aug 21, 2013 11:19pm
Try higher Timeframes.
5 min is too noisy for a beginner (what u clearly are). A lot of simple things, that u can start with work good on 4 hour tf, but totally srew on 5min.
I guess you took the 5 min because of the "get rich quick" thought. In 1m the moves are to little to cover the spread, but 5m could work. Am i right?

I was starting like this too and tried a lot at the 5min, just wasting my time. As a fact, this tf is noisy and trends are with insane movements.
Higher tf are more trending and easier to trade and learn.

And you will have to learn a lot (no offense, every beginner has to learn a lot), so dont think about being rich and waste your time on the 5m. Go to 1 hour or 4 hour and start learning about the markets and what style fits your personality.
Babypips.com is a good way to start learning, as Davit mentioned.

Good luck
  • #12
  • Aug 22, 2013 1:08am Aug 22, 2013 1:08am
Quoting Seikilos
Try higher Timeframes. 5 min is too noisy for a beginner (what u clearly are). A lot of simple things, that u can start with work good on 4 hour tf, but totally srew on 5min. I guess you took the 5 min because of the "get rich quick" thought. In 1m the moves are to little to cover the spread, but 5m could work. Am i right? I was starting like this too and tried a lot at the 5min, just wasting my time. As a fact, this tf is noisy and trends are with insane movements. Higher tf are more trending and easier to trade and learn. And you will have to...
Agree, it is too stressfull. But some have the personality "Action all the time" so yes, i am using 5m tf. Here my experience in general. 1) A lot of false move, so you must have "instinct" to filter them out 2) So far, i am using MACD indicator and SMA(20) as my entry point, sadly no definite rule of exit, using SL to manage my risk. 3) Mostly stay out of big news, unless you have some hints of them. Here a picture of my chart:
Rule: 1. Stars mark turn point, 2. Blue or Red after stars (not too close, about 8-12 bars) open position, 3. Another star show, you can close, or wait for that sign of turn. 4. Thight stop loss, move to break even SL asap, 5) approaching big news.. careful, realized profit or move your SL.
Quite stressful, yes. Oh the indicator is custom made, its MACD(12,26,9) median price, tf m15, but put on the m5 chart. If you can MQL4 .. i send you. This work for me, about 68% gain weekly on average.. new.. about 3 months using it.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyim5.png Size: 44 KB
Don't blame the tools. Blame the carpenter.
  • #13
  • Last Post: Aug 22, 2013 6:39pm Aug 22, 2013 6:39pm
Quoting KecoaKecil
{quote} Agree, it is too stressfull. But some have the personality "Action all the time" so yes, i am using 5m tf. [...]. If you can MQL4 .. i send you. This work for me, about 68% gain weekly on average.. new.. about 3 months using it. {image}

Sure it can work to trade m5. But are you since 3 months in this game? Or using this system since 3 month? My experience is, that you need a lot of feeling and knowledge for this low timeframes. And i can MQL, so it would be nice to have this.
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