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5Min Intraday System

  • #7,681
  • Aug 15, 2013 6:45pm Aug 15, 2013 6:45pm
Hello everybody!

I am new in this thread, actually I am reading this thread for couple of weeks. I am amazed and I love this strategy because it is easy to understand, not much money is needed for stoploss and there is reasonable number of trades opportunities per day.

I am going to countinue learning this strategy and I hope I will earn some money on it. That's reason why we trade.

Mainly I would like to thank Phillip Nel because you revealed this strategy to people.

I know, here isn't a lot of people but if somebody wants to talk about this strategy I am open for it.(mayby we can swap our good trades or bad trades and talk about it.)
  • #7,682
  • Aug 20, 2013 6:00am Aug 20, 2013 6:00am
Quoting dany78
hello aamhad 29 template = {file} you needs {file} {file} moving averages are given by phil on the first page. good trades
Thanks a lot for the indic and template.
Regards
  • #7,683
  • Sep 17, 2013 10:44am Sep 17, 2013 10:44am
Anyone still trading this strategy?
  • #7,684
  • Sep 18, 2013 1:23am Sep 18, 2013 1:23am
Quoting Bobcat2
Anyone still trading this strategy?
I have traded it a lot on the futures and Forex markets and it gave me satisfaction. Check the "Philips Nel" template layout on the platform and some P&L examples.

The last two are the same trade screenshotted at signal received and what happened next.


Like many others, I stopped having time to trade intraday and went on to trade on daily bars with other price action methods like this (and others).
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  • #7,685
  • Sep 18, 2013 7:41am Sep 18, 2013 7:41am
Quoting Bobcat2
Anyone still trading this strategy?
Yes! I trade from lower time frames primarily, but the 5 minute Phil Nell "system" is the basis for the trend during my session. And a couple setups I use consist solely of the 5 minute system ideas. I primarily am selling on up bars in a down trend, and down bars in an uptrend, once price reaches back to the "zone" (in between 10 and 21 EMAs). I keep a blog that shows my 5 minute charts each day, but I'll try to post here too if anyone is interested in keeping this thread alive.

Its a great system - typically after the MAs cross, the first 2 pullbacks into the "zone" are the highest probability entries -
Small disciplines repeated with consistency lead to great achievements.
  • #7,686
  • Sep 21, 2013 7:29pm Sep 21, 2013 7:29pm
I have respected Philip for years. So when searching thru threads for a low timeframe trend system, this caught my eye.

Looks solid. Will work with it and look forward to seeing other's trades and thoughts!

M2T
  • #7,687
  • Sep 22, 2013 1:06pm Sep 22, 2013 1:06pm
Quoting jmflukeiii
{quote} Yes! I trade from lower time frames primarily, but the 5 minute Phil Nell "system" is the basis for the trend during my session. And a couple setups I use consist solely of the 5 minute system ideas. I primarily am selling on up bars in a down trend, and down bars in an uptrend, once price reaches back to the "zone" (in between 10 and 21 EMAs). I keep a blog that shows my 5 minute charts each day, but I'll try to post here too if anyone is interested in keeping this thread alive. Its a great system - typically after the MAs cross, the...
Whats the address of your blog with charts ? Thanks.
  • #7,688
  • Sep 23, 2013 6:48pm Sep 23, 2013 6:48pm
I am in the middle of the thread and there are post from 2008. I would really appreciate charts from these days. How it works in todays market, if somebody found new patterns. As you can see in the bottom of the thread I am activ quiet a lot :-)

Thanks!
  • #7,689
  • Feb 14, 2014 4:49am Feb 14, 2014 4:49am
Systems come and go. The herd tries one for a while (Phillips for example) but find it is not the holy grail. Therefore, they stop posting and move on to the next dream world. New hopefuls turn up to replace posters who have long since left; but they will, in turn, leave. Eventually the thread dies and slips down the index of systems.
I was, for want of something to do between trades, skimmimg old threads and was struck by the attrition rate of such systems and the same herd of posters that trample through such systems in search of easy rewards. Nothing changes.
every Saint has a past. Every Sinner has a Future
  • #7,690
  • Feb 14, 2014 6:21am Feb 14, 2014 6:21am
Quoting turnip15
Systems come and go. The herd tries one for a while (Phillips for example) but find it is not the holy grail. Therefore, they stop posting and move on to the next dream world. New hopefuls turn up to replace posters who have long since left; but they will, in turn, leave. Eventually the thread dies and slips down the index of systems. I was, for want of something to do between trades, skimmimg old threads and was struck by the attrition rate of such systems and the same herd of posters that trample through such systems in search of easy rewards....
I think it's down to the trader, obviously there isn't a strategy in the world which is 100% but if you dedicate time to study that method you can have an 'edge'. If you look at Trading Made Simple, phx62 and Emmanuel have studied that method and are extremely good traders...the same goes for any method. RealJumper, martyfish and fame of me are great at trading genesis....this doesn't mean that other members can just pick up the system and be profitable.

Any system takes time, the reason threads die out is probably because the traders lose a few and thinks it's a bad system when actually they need to look a lot closer to home....
  • #7,691
  • Feb 17, 2014 9:41am Feb 17, 2014 9:41am
This system has many variations because traders must follow their own wisdoms. I stick very close to the original rules including the trend line. Once 20pips are achieved I'm out for day. If less I make em up during the week. There are some losing days, will try to make up during week or next. Never had a losing week. My gain to loss trades is 3 to 1. I trade the 5 min chart and 3am Est. till 20 pips, leaving many on the table. Strictly in the Zone trades. I should say Zones (2). I know there are pins etc., but I keep it simple as can be. Usually out before NY opens. But there are some 12pm's. Trading Pair EU, MT4. Thanks to all who made this style understandable in my early trading days. Is my gain to loss about average because I am trading less than half day??
  • #7,692
  • Feb 17, 2014 9:55am Feb 17, 2014 9:55am
Quoting nana1
I am in the middle of the thread and there are post from 2008. I would really appreciate charts from these days. How it works in todays market, if somebody found new patterns. As you can see in the bottom of the thread I am activ quiet a lot :-) Thanks!
Maybe I'm late to this. Why would one need more patterns than offered, just makes things harder to control. I strictly trade from the Zones ignoring patterns except sharp V's. There are the Church patterns and ascending, descending triangle's etc. It is said patterns are not as predictable in lower time frames. It's simple to make $$ with this if system is kept simple. This style has been going on long before even Forex. Idea's were borrowed and more explicitly explained.
  • #7,693
  • Feb 17, 2014 4:40pm Feb 17, 2014 4:40pm
Quoting Golfer
{quote} Hi Y Sorry but the links to all the necessary documents/posts are posted on the first page of this thread. I don't think I can make it more clearer. If still not clear, somebody else must please help. There are just many aspects to address - my suggestion is: "Make sure you understand the basic principles of the system first and forget about the signals for a while." The signals are very individual and each trader will develop his/her own style. Don't try and be a "copycat" - develop you own style. All can can advise to do, is to start with...
Actually if ya follow the basics as stated ya don't need any of this other mumbo jumbo.
  • #7,694
  • Feb 19, 2014 7:42am Feb 19, 2014 7:42am
Gift that keeps on giving....
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  • #7,695
  • Feb 19, 2014 8:34am Feb 19, 2014 8:34am
Quoting dforant1
Gift that keeps on giving.... {image}
I definitely need to look into this....if you aim for 20 pips a day you must be done for the week!! So I'm guessing you just entered on the first candle that closed in either one of the zones?
  • #7,696
  • Feb 20, 2014 3:16am Feb 20, 2014 3:16am
Quoting Gareth22
{quote} I definitely need to look into this....if you aim for 20 pips a day you must be done for the week!! So I'm guessing you just entered on the first candle that closed in either one of the zones?
No 20 pips per day is fairly easy, out w/5 hrs trading average. Half those <3hrs. I'm going to 10pips per day starting Monday 3am est. My History look looks like done in <3hrs average.

It's best to get deep into zone near 21 ema , sometimes takes 2 candles closed. Then wait for a move away from 21 ema with a market order. I treat the 50sma and 21ema the same way. If one's game pins also work. I do not look for pullback patterns as suggested in forum. Best bet is to wait for 50sma and 21ema to be trending down or up. The more the better but milder ones work also just more chancy. Profit 6-10 pips s/l 6 plus spread. Some large gains can be obtained by running with the 10ema or 21ema line. I like 10-20 pips and out for day adjusting one's % of investment wisely. Very easy system to make up losses,.
  • #7,697
  • Feb 20, 2014 3:33am Feb 20, 2014 3:33am
Quoting dforant1
{quote} No 20 pips per day is fairly easy, out w/5 hrs trading average. Half those <3hrs. I'm going to 10pips per day starting Monday 3am est. My History look looks like done in <3hrs average. It's best to get deep into zone near 21 ema , sometimes takes 2 candles closed. Then wait for a move away from 21 ema with a market order. I treat the 50sma and 21ema the same way. If one's game pins also work. I do not look for pullback patterns as suggested in forum. Best bet is to wait for 50sma and 21ema to be trending down or up. The more the better but...
That really helps, thanks a lot...good to hear from someone successfully trading this method.
  • #7,698
  • Edited 4:27am Feb 20, 2014 4:12am | Edited 4:27am
Out for day. Didn't like the trade because of big drop but must stick to plan. +8pips. Wanted 10 but didn't like this one to fulfill destiny. For me done. Lot's more left on table I'll bet today. Didn't take 1st 2 moves into zone. Waited for it to go deeper toward 21ema. Actually hit 2nd zone 21ema -50sma. Back to bed. 5am est. Tough life !!
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  • #7,699
  • Feb 20, 2014 4:42am Feb 20, 2014 4:42am
Quoting dforant1
Out for day. Didn't like the trade because of big drop but must stick to plan. +8pips. Wanted 10 but didn't like this one to fulfill destiny. For me done. Lot's more left on table I'll bet today. Didn't take 1st 2 moves into zone. Waited for it to go deeper toward 21ema. Actually hit 2nd zone 21ema -50sma. Back to bed. 5am est. Tough life !! {image}
It's the worst feeling watching the same chart as someone and then not taking the trade, only to find that they did!! I always find too many reasons not to enter...great trade, enjoy your sleep!
  • #7,700
  • Feb 20, 2014 8:01am Feb 20, 2014 8:01am
Quoting Gareth22
{quote} It's the worst feeling watching the same chart as someone and then not taking the trade, only to find that they did!! I always find too many reasons not to enter...great trade, enjoy your sleep!
Had the same problem. If it's confidence just eyeball a bunch of days in your trading time. Until you are satisfied that winning trades should run about 3 to 1. Taking a minimum of 6pips gain and a 6pip + spread stop loss. If 6pips net turns back to even close trade. Sure you will miss some this way but erroring on side of caution. Just trade the zone(s) till confidence overcomes second guessing. Taking a trade 1-2 pips from close precious candle helps get to the 6pip gain. But also sets off sl also quicker but the ratio is favored. Market order works for me. In a fast moving market I may need a limit order as most candles move in both directions.

I use Autostop.v2 indicator to take gains and stops losses. Set it forget it. Well, not really! No Good Luck needed, just wait for setup and fire.
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