15-Minute Time-Based Strategy

About 2.5 years of trading currencies for me. A year or so prior I started trading stocks. I started trading longer-term when I first began trading, but in the last 6 months to a year, I have been shifting my focus to getting in and out with profitable results.

I don't have much time to trade with college and a part-time job, but I do what I can. This set-up looks good, there may be a chance to go Long EUR/JPY here within the next minutes (3:41 CST).

SMA's going up, 15 SMA(red) about to break above others. I will switch to 1-minute soon. There is resistance above though, be careful.

Long @ 165.628

A little early, but I knew I was going to be ok.

EDIT: I exited for 3.4 pips because we have some resistance that will be troublesome I think @ around 165.50. Once we are past that, I may enter again.

If there in the bank nobody can take them back....

Hey Guys. Look what i found. I am still folllowing the charts to see if i can catch a setup. Palmer u were right dont really need to consistantly stare at the screen . espacially when the MA's are all tangled up. A lot of pips to be made here. Thanks Kevin and palmer.Best Regards,
Nadia

Hey kevin, ive been trying scalping on the 5 second chart...basically i looked for general trend direction, a pullback, then continuation of the trend.

Here is an example....of course the down arrow is where i entered short

First. It seems I will give this a chance. It looks great. Good luck you all.

Second, Kevin: you sure the price was 165.628?

I dont see the price in the graph you attached.

Hey smilee, thanks for stopping by! Good catch, that is definitely an error on my part. It should be around 165.42(I'm too lazy to get the exact # for you)

Good luck to you too,

Kevin


Hey Nip,

Saw your post last night, and have been mulling it over in my head ever since. This is getting sort of Linuxtroll Rainbow(y)(adjective form of Linux Troll Rainbow). I like the rainbow, and it is good. I think what I'm going to do is use the 30 second as usual, and try trading off the 5-second based off the 30-second trend. It seems to be the safest bet. I'm not interested in trading EVERY move off the 5-second chart, just the good ones.

Also, with the 5-second it is very important that you trade during good times. Trading during London and NY open and sometimes through the day is best. Other times will be to flat and whipsaw(y)(...)

Nice idea,

Kevin

All good things must come to an end...took the first loss last night in the USDJPY, yeah the pair that I said a few days ago that I wasn't going to follow any more. I think I said somewhere that I'm 90% there about being 100% patient so there's that lacking 10% error in my ways. Either way, 12 out of 13 ain't bad. I'm flat with everything until after the Fed news....Buckle Up!!!

Just got off work and haven't had much time to glance at my charts. I'm sorry for your one loss, I hope you can survive. We all have our vices, and I don't see USD/JPY as a bad pair to trade, just aim lower for profits.

Got a dumb question for ya... Which fed news are you talking about?

Interest rate statement due out at 1:15 EST...

I just happened to be watching this at the right time. Luck never hurts...WOW!!!!

Palmer..sorry I missed that one. I have started reading over this thread and looking back at some charts and it looks good so far.

Kevin... keep up the good work.


T4K

Impressive!

I've been more or less watching for when the 15ma crosses over and clears all the other moving averages. If the 5min is trending well, up maybe with the 15 above all the other ma's, and the 1min price comes back to the 15, the 15 closes below the 30, 45...and crosses back above the 30 with the price (on the 1min), that's also a good signal. I also watch the action around the moving averages for Phillip Nel's 4 hr method.

It seems like the morning NY session provides the best opportunities and after 9PM EST USA. I just happened to be watching during the China Spike and held on for the ride!!!!

A few moments ago:

The first entry was a little quick, gut feeling.

The second entry was the 5min 15ema sloping up and the 1min dip and return to the upside...

Morning Guys - Picked up a quick +20 pips this morning in the E/J pair!! Thanks Kevin for the system and Palmer for your inspiration.


T4K

Kevin,
Kudos to you my man for developing and sharing this strategy.

I've been a forex trader for 3 years, the last 2 being very lucrative indeed, and it became that way when I reached a point of unsuccessful trading and realized I had to "unlearn" everything about any and all forex investing strategies and systems I had ever learned.

Unfortunately so many 'newbies' will learn a strategy or system (and there are many good ones given free here) and eventually screw up a nice, easy, profitable strategy by thinking it can become better if they add more indicators to the system. They rationalize that more indicators (all of course only tell you what the price has done in the past) will clear up the fog in their crystal balls. Then they sit and wait for a 'confluence of events" which will then allegedly tell them the correct timing to 'pull the trigger'.

The main trouble here is that by the time they get their 'confluence of events' from their indicators in almost all cases, the correct timing for entering or exiting a trade is past. Then they wind up scratching their heads and wondering why a seemingly great strategy wiped out their real money accounts.

Absolute truth from the mouth of a successful trader. "The more you learn, the LESS you'll earn!"

Your system is probably one of the best I have ever found on any forum. I especially like it because it fits my personality of loving to scalp. Plus it is very clean and clear and other than the EMA's there are no other indicators to screw up your decision making process.

But more importantly, why it is good is that it eliminates two factors which ruin most fledging forexers. Greed and Fear. Working that 1 minute chart in most cases doesn't give one time to even allow those two account killing emotions to come into play.

This is a 'great' mechanical system and one does not have to spend precious minutes evaluating whether or not to enter or exit the trade. Boom - they're in, and then within minutes out. Sure, the pip profit is nothing to shout about, but they ARE consistant pip profits.

And really, isn't that what this whole game is about . . . . pip PROFITS?

I am constantly asked for advise on strategies and systems. My main response is "find a system that is clean, clear, has a high % rate of wins, and become proficient and experienced in that ONE system! Stop bouncing around looking for that 'Holy Grail'."

I an certainly going to steer anyone and everyone in the future to your thread. I wish I could have had this strategy 3 years ago!

Hi Flamenco143,

how have you been doing with this method are You still trading it?

thx

P.

Hi Kevin, gr8 system, just read the thread, is anyone still using this, I also just started with binary options, if all you need is to be 0.0001 pip from you entry high/low price in eg a 15 min trade, then this may also be a gr8 system, will try out

hi donsissing. this also what i'm thinking. this is applicable to binary options.