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The 5 minute TF S&R trading system

  • #5,181
  • Jan 16, 2014 8:50am Jan 16, 2014 8:50am
@ FXPIVOTS: Looking at this scenario, its USD YEN your criterias for a trade were met , right?

50 min before News

Went straight to Stop-Loss


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  • #5,182
  • Jan 16, 2014 9:01am Jan 16, 2014 9:01am
@ FXPIVOTS:
Nice work and I appreciate your sharing. Gonna do the back-test with my own eyes.

Just one question regarding your set up. You mentioned that your winning is 2% or 3% per trade. From my understanding, your risk ratio is 1:1. So where does the difference between 2% and 3% come from?

Thank you.
  • #5,183
  • Jan 16, 2014 9:20am Jan 16, 2014 9:20am
Looks right to me I don't know why your bucking the system eu ej have been tested. But its your money so do what you want
  • #5,184
  • Jan 16, 2014 9:28am Jan 16, 2014 9:28am
Quoting fxpivots
Looks right to me I don't know why your bucking the system eu ej have been tested. But its your money so do what you want

I know FX i am just practicing my eyes :-)

Did you take any trade today, in my eyes there was nothing so far, right?
  • #5,185
  • Jan 16, 2014 9:38am Jan 16, 2014 9:38am
No problem your spotting them that's what counts and no not yet
  • #5,186
  • Jan 16, 2014 9:53am Jan 16, 2014 9:53am
Quoting fxpivots
No problem your spotting them that's what counts and no not yet
What is your spread on EUR/YEN????
  • #5,187
  • Jan 16, 2014 9:54am Jan 16, 2014 9:54am
Hey guys,

Just want to get a recommendation. I live on the east coast (toronto, canada):

For trading EURJPY: is it better if i trade during tokyo session (tokyo opens at 8pm -- so i'll be trading after work till 1AM)
For trading EURUSD: is it better if i trade during london session (i wake up at 3am, and trade till i have to leave for work at 8AM).

In either case, i can put in 4-5hrs of trading. Just want to get an idea from you guys which will work better for me. I'm unable to trade the NY session due to work during the day. EURUSD doesn't do well during tokyo so i'll be trading only eurjpy at that time. If i do london session -- is it feasible to do both EURJPY and EURUSD and would there be a higher success rate?


Thanks guys.
I have no questions about the method at this moment.
  • #5,188
  • Jan 16, 2014 9:56am Jan 16, 2014 9:56am
Quoting irampagemc
Hey guys, Just want to get a recommendation. I live on the east coast (toronto, canada): For trading EURJPY: is it better if i trade during tokyo session (tokyo opens at 8pm -- so i'll be trading after work till 1AM) For trading EURUSD: is it better if i trade during london session (i wake up at 3am, and trade till i have to leave for work at 8AM). In either case, i can put in 4-5hrs of trading. Just want to get an idea from you guys which will work better for me. I'm unable to trade the NY session due to work during the day. EURUSD doesn't do well...

Nobody tested this method during those timeframes so hard to say

I trade EUR/USD during London Session and do not see a difference to NY Session regarding setups

Just my opinion
  • #5,189
  • Jan 16, 2014 10:16am Jan 16, 2014 10:16am
Oak ej fluctuates between 1.6 and 2.1
  • #5,190
  • Jan 16, 2014 10:22am Jan 16, 2014 10:22am
Quoting fxpivots
Oak ej fluctuates between 1.6 and 2.1

I have 3,3 thats the problem
  • #5,191
  • Jan 16, 2014 10:30am Jan 16, 2014 10:30am
Oanda is solution
  • #5,192
  • Jan 16, 2014 7:48pm Jan 16, 2014 7:48pm
Quoting fxpivots
{quote} if you read and looked at my charts you will see the 123 is not and I repeat not discretionary. Heres why the perameters must be met like if we make a low then we must (that's not discretionary) have a candle take out the high to form point 2 then we must have (also not discretionary) a candle take out low of pt 2 to form pt3. All of this must happen at the end of a trend or there is no 123 pattern. So based on the rules where is the discretion??????? {image}
Hi fxpviots, regarding "a candle take out low of pt 2 to form pt3" part. Question, if a candle take out both low of pt 2 and also pt 1, does I still consider it to form pt3?

Best Regards
Daniel Tang
  • #5,193
  • Jan 16, 2014 7:54pm Jan 16, 2014 7:54pm
They have to be separate in other words at least 3 candles
  • #5,194
  • Jan 16, 2014 9:50pm Jan 16, 2014 9:50pm
Quoting fxpivots
They have to be separate in other words at least 3 candles
Thanks fxpviots.
  • #5,195
  • Edited 2:04am Jan 17, 2014 1:13am | Edited 2:04am
Quoting Morcos
Today's trades till now: {image} Please review it...
The second part of yestardays's trades:
Attached Image (click to enlarge)
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Yesterday's total 13 trades. 10 winner and 3 loser. 6 longs and 7 shorts.

Edit: sorry, there was a winner trade at the very end of the day which I dont sign.

So, total 14 trades, 11 winner, 3 loser, 6 longs, 8 shorts.
  • #5,196
  • Jan 17, 2014 2:07am Jan 17, 2014 2:07am
Quoting Morcos
{quote} The second part of yestardays's trades: {image} Yesterday's total 13 trades. 10 winner and 3 loser. 6 longs and 7 shorts. Edit: sorry, there was a winner trade at the very end of the day which I dont sign. So, total 14 trades, 11 winner, 3 loser, 6 longs, 8 shorts.

What is this? Why are you posting this??????
  • #5,197
  • Jan 17, 2014 2:10am Jan 17, 2014 2:10am
EUR/USD London Session: Trade went straight to Stop-Loss


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  • #5,198
  • Jan 17, 2014 2:22am Jan 17, 2014 2:22am
Quoting Oakwoodinc
{quote} What is this? Why are you posting this??????
To show my 123 trades, and for review it. Why are you posting your charts and trades?
  • #5,199
  • Jan 17, 2014 2:27am Jan 17, 2014 2:27am
Quoting Morcos
{quote} To show my 123 trades, and for review it. Why are you posting your charts and trades?
You can clearly see entry and SL on my charts

Can you repost all your trades please with lines for SL and Entry?

Would like to see them

Thanks
  • #5,200
  • Jan 17, 2014 2:33am Jan 17, 2014 2:33am
Quoting Oakwoodinc
{quote} You can clearly see entry and SL on my charts Can you repost all your trades please with lines for SL and Entry? Would like to see them Thanks
Entry is over/under 1 point of point 2 (plus spread if long), Stop is over/under 1 point of point 3 (plus spread if short), take profit is at 1:1 RR ratio.
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