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The 5 minute TF S&R trading system

  • #4,961
  • Jan 3, 2014 6:04pm Jan 3, 2014 6:04pm
Quoting fxpivots
The game begins Monday if you would have traded yesterday and today you would have 2 3% wins and 1 2% win for 8%
I don't understand the 5 candles rule, why not 6 or 4, on the old setup it was 3.
  • #4,962
  • Jan 3, 2014 8:55pm Jan 3, 2014 8:55pm
thanks for teaching this method. i am going to try to trade this starting mon.
  • #4,963
  • Jan 4, 2014 4:56am Jan 4, 2014 4:56am
Spike it seems you have a problem with my rules and method maybe it would be best to do 1 of 2 things either backtest according to the rules I laid out and prove me wrong or go find another method to trade.
  • #4,964
  • Jan 4, 2014 8:47am Jan 4, 2014 8:47am
Quoting fxpivots
Spike it seems you have a problem with my rules and method maybe it would be best to do 1 of 2 things either backtest according to the rules I laid out and prove me wrong or go find another method to trade.

I did traded this method or an almost identical one and didn't went so well, there is a thread here "Flag trading the trend" that's why I have my doubts. As per back-testing I suppose is something everyone should do and I'll do it but I'm trying to clear all the rules first. I don't have a problem with the rules but for example this is the first time I hear about 5 candles. I don't remember seeing it in the video.
  • #4,965
  • Jan 4, 2014 8:53am Jan 4, 2014 8:53am
Its in the video you want to give a little time for the trade so if we are going sideways for 25 minutes which is 5 bars look to either b e or move atop to be. Also concerning methods that worked and stalled the market changes and we have to adjust to it. Thats why I tweaked this not be cause we were incurring losses but for lack of trades
  • #4,966
  • Jan 5, 2014 11:03am Jan 5, 2014 11:03am
fx, what's your take on this day from feb 2012:

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd06feb2012.GIF Size: 47 KB
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  • #4,967
  • Jan 5, 2014 12:24pm Jan 5, 2014 12:24pm
it looks like a sideways market first chart is analysis of your chart second chart is ej same day
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  • #4,968
  • Jan 5, 2014 3:11pm Jan 5, 2014 3:11pm
understood many thanks fx
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  • #4,969
  • Jan 5, 2014 3:13pm Jan 5, 2014 3:13pm
do we discrad 123 signals after bo:

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd13feb2012.GIF Size: 42 KB
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  • #4,970
  • Jan 5, 2014 4:50pm Jan 5, 2014 4:50pm
yes no 123 after b o only at end of trend. When we come to market we must do analysis and ask this question where are we right now in market if we are trending then it will be obvious if not we wait for markei to take out areas then pullback heres charts Erasmus of the same day as your chart first is eu then ej
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  • #4,971
  • Jan 5, 2014 5:40pm Jan 5, 2014 5:40pm
Quoting erasmus66
do we discrad 123 signals after bo: {image}
What "bo" means?
  • #4,972
  • Jan 5, 2014 6:04pm Jan 5, 2014 6:04pm
B o = breakout
  • #4,973
  • Jan 6, 2014 9:14am Jan 6, 2014 9:14am
fx, i'm struggling with 123 after bo rule. which of the following 123 reversal signals are legit:

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  • #4,974
  • Jan 6, 2014 9:23am Jan 6, 2014 9:23am
Quoting erasmus66
fx, i'm struggling with 123 after bo rule. which of the following 123 reversal signals are legit: {image} {image} {image} {image} {image} {image}
Thanks for posting this because i have the same problem regarding this.

I do not take trades against the trend anymore maybe this will help but is only my personal opinion.

You will have enough trades within the trend to make a good performence.
  • #4,975
  • Jan 6, 2014 10:03am Jan 6, 2014 10:03am
hi oak, will have a look at this many thanks
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  • #4,976
  • Jan 6, 2014 10:19am Jan 6, 2014 10:19am
Erasmus chart 1 4 and 5 were not trends no 123 s after b o
  • #4,977
  • Jan 6, 2014 10:33am Jan 6, 2014 10:33am
many thanks fx - struggling to differentiate between a trend and a bo
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  • #4,978
  • Jan 6, 2014 11:33am Jan 6, 2014 11:33am
Quoting erasmus66
many thanks fx - struggling to differentiate between a trend and a bo
me too

Quoting fxpivots
Erasmus chart 1 4 and 5 were not trends no 123 s after b o
Can you explain about it? Sorry my english not well so I can not 100% understand, Why 1 4 5 not trends? And how does "123 s after bo"
  • #4,979
  • Jan 6, 2014 12:43pm Jan 6, 2014 12:43pm
Guys write this down dont trade 123s after a breakout!!! When you see price make a low and and hour latter it finally takes out a low that's consolidation. Simply trade the pullback from there. Out the 3 setups the 123 trades the least. So if your not comfortable wait till price takes out pt 2. and the trade the pullback
  • #4,980
  • Jan 6, 2014 3:33pm Jan 6, 2014 3:33pm
think i've got it fx - here's my review of the above signals:

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Click to Enlarge Name: eurusd30jan2012n.GIF Size: 45 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd13feb2012n.GIF Size: 46 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd17feb2012n.GIF Size: 44 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurusd21feb2012n.GIF Size: 48 KB
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