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The 5 minute TF S&R trading system

  • #4,861
  • Dec 24, 2013 5:51am Dec 24, 2013 5:51am
Merry Christmas for all participants/contributors "The 5 minute TF S&R trading system"
JacekPreserve Precious Capital
  • #4,862
  • Dec 24, 2013 11:53am Dec 24, 2013 11:53am
Quoting Jackub
Merry Christmas for all participants/contributors "The 5 minute TF S&R trading system"
Any a happy new year
  • #4,863
  • Dec 26, 2013 12:49pm Dec 26, 2013 12:49pm
well I backtested so far from feb to dec the results were out of this world. it is averaging 30% a month win rate of 75+% 1 month had a drawdown of 3% only because it lost first trade of month if you have not got it yet heres the video https://www.dropbox.com/s/qa1krah4gf...21%2016.11.tvs

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  • #4,864
  • Dec 26, 2013 4:36pm Dec 26, 2013 4:36pm
hi, is there a visual backtest? really very grateful for this sharing!

By the way, can anyone please help to share if there is any posts that summaries the latest entry/exit criteria?

I have been trying to understand the entry/exit criteria, and as I scrolled through the first posts to the more recent ones, it seems there are some changes.

Here's what I understand:

Setup:
Support and resistance will be done only on 5 minute charts.
123 patterns which are 123's where the 3 point takes out the 1 point

Entry Criteria
Enter 1 pip above point 2, when price comes back to point 2 (as resistance turns to support).
Wait for 2 fully closed candles

Risk Mgmt (Risk/Reward 1:1 using 3% per trade)
Take Profit: 10 pips (original first post is 15 pips?)
Stop loss : 10 pips (original first post is 15 pips?)
If up 6 or 7 pips, move stop loss to breakeven, look to exit if bounces near to target (from 1st forum post)....how do you determine this and is this still valid?

Trading Hours
7am - 11am

Others:
No trading 30 mins before important news...look to get out if you are in such trade 30 mins before news.
  • #4,865
  • Dec 26, 2013 7:16pm Dec 26, 2013 7:16pm
Watch the video its all there
  • #4,866
  • Dec 27, 2013 3:10am Dec 27, 2013 3:10am
visual back-test is not enough, you can easily see when to trade and when not, unless you read the market very well I suppose, I think it needs to be tested in a simulator.
  • #4,867
  • Dec 27, 2013 6:52am Dec 27, 2013 6:52am
In any business there has to be research otherwise no one would ever venture out and do it. Same goes with trading how else can we test ideas . remember history does repeat itself
  • #4,868
  • Dec 27, 2013 7:13am Dec 27, 2013 7:13am
Quoting spike00spieg
visual back-test is not enough, you can easily see when to trade and when not, unless you read the market very well I suppose, I think it needs to be tested in a simulator.
Hi,
10 000 hours to master skill comes to play....:nerd:
JacekPreserve Precious Capital
  • #4,869
  • Dec 27, 2013 7:41am Dec 27, 2013 7:41am
Quoting fxpivots
In any business there has to be research otherwise no one would ever venture out and do it. Same goes with trading how else can we test ideas . remember history does repeat itself

I'm not saying not to research, it is vital but there is a tool that replays the charts, at a much higher speed. I found that just going back on charts is biased and I get better results because I can easily see the flat & spike periods and I tend to overlook high risk entries that otherwise I would have taken..
  • #4,870
  • Dec 27, 2013 8:41am Dec 27, 2013 8:41am
Comments on this Setup from today please:


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  • #4,871
  • Dec 27, 2013 10:24am Dec 27, 2013 10:24am
Oak the candle to left of your pt 1 was low but the execution wad correct
  • #4,872
  • Dec 27, 2013 10:26am Dec 27, 2013 10:26am
Oak the candle to left of your pt 1 was low but the execution wad correct. The ej 940 was the winner today
  • #4,873
  • Dec 27, 2013 11:26am Dec 27, 2013 11:26am
Quoting fxpivots
Oak the candle to left of your pt 1 was low but the execution wad correct
Thats what i also thought :-)


I have one more question:

Let's say a candle makes a new low and then you wait for a candle to "take out" the high of this candle to have a new point 3, so you mean by "taking out" that there has to be a close on the 5min chart above this high or what is your definition of "taking out"?

I went through some charts today and the method works very good

Would be good to see some posts from you from next year on regarding this new setup

Thanks
  • #4,874
  • Dec 27, 2013 11:56am Dec 27, 2013 11:56am
If it takes out low by 1 pip and pulls back is all thats needed
  • #4,875
  • Dec 27, 2013 3:34pm Dec 27, 2013 3:34pm
Quoting Oakwoodinc
{quote} Thats what i also thought :-) I have one more question: Let's say a candle makes a new low and then you wait for a candle to "take out" the high of this candle to have a new point 3, so you mean by "taking out" that there has to be a close on the 5min chart above this high or what is your definition of "taking out"? I went through some charts today and the method works very good Would be good to see some posts from you from next year on regarding this new setup Thanks
Well the other method had 4 years of back-test and still went sour this month/last month, I would not just jump live without some serious back-test, I plan to back-test it in the simulator as much as I can.
  • #4,876
  • Dec 27, 2013 3:55pm Dec 27, 2013 3:55pm
Quoting fxpivots
If it takes out low by 1 pip and pulls back is all thats needed

I am not talking about the low, i am talking about the High of the candle that made a new low. You said that high has to be taken out for a new 1-2-3.

Look at this example and correct me or explain whats wrong for my understanding please:

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  • #4,877
  • Edited 7:59pm Dec 27, 2013 6:20pm | Edited 7:59pm
ok let me address a few things the s and r method didn't go sour. Going sour means that its incurring losses that's not the case here its just its lack of trades. when they happen they still win. So in looking at what I could do to increase trading this whole other door opened. I still trade 123s I still trade the pullback but the entry place is different and I have added the ej to the mix.So now there are 4 setups the 123 or broken 123, the trend trade pullback, the sideways breakout pullpack, and the last swing breakout pullback. I have just completed 1 yr of backtesting with these rules: 7 to 11 trading time if in a trade after 10 go for 2% which ever signal happens first you take if they are at same time use eu less spread and get 2 wins and done. it has averaged 35% a month with a low of 27% and a high of 46%. the biggest drawdown was 3% we lost first trade of month but it was followed by 13 wins in a row. also when up 2% move stop to b e and if it doesn't take you out and it comes back watch pa and if need be take 2% here are 3 charts showing setup the last chart shows 2 setups. also watch video https://www.dropbox.com/s/qa1krah4gf...21%2016.11.tvs oak concerning you chart price just has to take out the high of that candle
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  • #4,878
  • Dec 28, 2013 11:24am Dec 28, 2013 11:24am
Quoting fxpivots
ok let me address a few things the s and r method didn't go sour. Going sour means that its incurring losses that's not the case here its just its lack of trades. when they happen they still win. So in looking at what I could do to increase trading this whole other door opened. I still trade 123s I still trade the pullback but the entry place is different and I have added the ej to the mix.So now there are 4 setups the 123 or broken 123, the trend trade pullback, the sideways breakout pullpack, and the last swing breakout pullback. I have just completed...

I understood everything. I just wanted to have an short explanation regarding "taking out" the low.

After looking at your charts i fully understand the idea now.

Thanks for your explanation. The new year can start :-)
  • #4,879
  • Dec 28, 2013 12:01pm Dec 28, 2013 12:01pm
@FXPIVOTS:

Here are 3 setups from European Session. I know you don't trade that session but please comment on them:

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  • #4,880
  • Dec 28, 2013 12:11pm Dec 28, 2013 12:11pm
@ FXPIVOTS:

Here is the setup from EUR/JPY 18th of December that you posted.

My question for you is inside this picture:

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