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The 5 minute TF S&R trading system

  • #3,721
  • Aug 27, 2013 12:09pm Aug 27, 2013 12:09pm
Erasmus news was at 10 and bernanke spoke I took the pullback in downtrend at 95
  • #3,722
  • Aug 27, 2013 2:53pm Aug 27, 2013 2:53pm
Quoting fxpivots
Well again its been awhile been trading effectivley the pullback based on the current trend. Simple rules no indicators just a 5 min line chart. We find the current trend and when it breaks its last low or high we wait for 2 closes below for short or 2 closes above for longs then we put entry in to sell or buy the stop is 15 pips and so is the target. Now if price goes against us we put a pending order in 15 pips away to reenter and target is still 15 pips. They dont happen often but when they do you lose trade 1 and win trade 2 for a BE...

Hi FxPivots,

Just started reading this thread and I'm not understanding the "price goes against us we put a pending order in 15 pips away to reenter and target is still 15 pips" concept.

Is this after we get stopped out? Or something different. Thanks for setting up this post and sharing your system and taking the time to help others out.
  • #3,723
  • Aug 27, 2013 3:21pm Aug 27, 2013 3:21pm
Money management is changed we uae 10 pip stop amd target we risk 3% of acct per trade when u are up 3 pips your up 1% 6, 6 is 2%.I say this so if trade atalls getting 2% is fine. Start on page 64 we use line charts look at chart example s and you'll understand method
  • #3,724
  • Aug 27, 2013 4:16pm Aug 27, 2013 4:16pm
@ FXPIVOTS:

"Now if price goes against us we put a pending order in 15 pips away to reenter and target is still 15 pips."

Can u exlpain that please, if we have a long trade going on and price goes against us and hits Stop Loss i then enter for a trade short or what do you mean???

It is not clear what you mean by that

Thanks for answering

And maybe you can also answer my second question i asked you by private message

Thank you a lot
  • #3,725
  • Aug 27, 2013 4:29pm Aug 27, 2013 4:29pm
i want to know more about it
  • #3,726
  • Aug 27, 2013 4:31pm Aug 27, 2013 4:31pm
Implement technical trading tools are necessary to achieve good market analysis and control, I usually use these: Stoch, CCI and EMA
Attached Image (click to enlarge)
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  • #3,727
  • Aug 27, 2013 4:32pm Aug 27, 2013 4:32pm
can i talk to any experience trader to know this graph
  • #3,728
  • Aug 27, 2013 6:46pm Aug 27, 2013 6:46pm
As I said before forget about the reentry method and what analysis does a stoc cci and whatever other indicator give youi besides late info.
  • #3,729
  • Edited 2:42am Aug 28, 2013 2:20am | Edited 2:42am
Indicators are useless!!!
  • #3,730
  • Aug 28, 2013 5:09am Aug 28, 2013 5:09am
@Oakwoodinc, firstly, sorry about my stupid question here. But maybe you can give me some guidance. Looking at the chart, what is the valid setup, buy at ? or sell at ?? .. I have read the whole threat, but still seems hard to grasp the idea.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdim5.png Size: 37 KB
Don't blame the tools. Blame the carpenter.
  • #3,731
  • Aug 28, 2013 5:34am Aug 28, 2013 5:34am
Quoting KecoaKecil
@Oakwoodinc, firstly, sorry about my stupid question here. But maybe you can give me some guidance. Looking at the chart, what is the valid setup, buy at ? or sell at ?? .. I have read the whole threat, but still seems hard to grasp the idea. {image}
Your 1-2-3 is way to big.

Trading hours are between 7 a.m. and 11 a.m. E.S.T.
  • #3,732
  • Aug 28, 2013 6:12am Aug 28, 2013 6:12am
Quoting Oakwoodinc
{quote} Your 1-2-3 is way to big. Trading hours are between 7 a.m. and 11 a.m. E.S.T.
Ah, got it. So now just starting, my clock is 7:10 est now. Locate the setup till 11:00 .. okay. Sorry to bother you ^_^
Don't blame the tools. Blame the carpenter.
  • #3,733
  • Aug 28, 2013 6:15am Aug 28, 2013 6:15am
Quoting KecoaKecil
{quote} Ah, got it. So now just starting, my clock is 7:10 est now. Locate the setup till 11:00 .. okay. Sorry to bother you ^_^
Write private message because i dont understand what you want
  • #3,734
  • Aug 28, 2013 7:47am Aug 28, 2013 7:47am
1.33456 long =win
  • #3,735
  • Aug 28, 2013 8:23am Aug 28, 2013 8:23am
nice trade snail - well done
Become the casino
  • #3,736
  • Aug 28, 2013 8:31am Aug 28, 2013 8:31am
There was a second trade that ended in SL,who took that one???
  • #3,737
  • Aug 28, 2013 8:45am Aug 28, 2013 8:45am
Quoting Oakwoodinc
There was a second trade that ended in SL,who took that one???
no, made the good trade, was not convinced of the second one, am preparing to see if current setup for a sell confirms.
  • #3,738
  • Aug 28, 2013 8:48am Aug 28, 2013 8:48am
news pending....
  • #3,739
  • Aug 28, 2013 8:56am Aug 28, 2013 8:56am
yes oak, agree with your analysis:

Attached Image (click to enlarge)
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Become the casino
  • #3,740
  • Aug 28, 2013 9:03am Aug 28, 2013 9:03am
Quoting erasmus66
yes oak, agree with your analysis: {image}

I hope FXPIVOT will comment on that setup because i do not see a reason not to take that trade when u really look at price action only without using any trendlinies for example.
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