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The 5 minute TF S&R trading system

  • #5,521
  • Mar 14, 2014 10:44am Mar 14, 2014 10:44am
<p>[quote=erasmus66;7341524]many thanks for reply fx - i misunderstood sl policy. Have just gone through jul 13 again and got 13 wins, 5 losses giving 24% for month thats more like it
  • #5,522
  • Edited 10:31am Mar 15, 2014 9:47am | Edited 10:31am
I did 35% last month trading the eu ej which ever triggered first get 2 wins and done. Well just backtested last month for trading eu jpy oil gold futures doing the same thing and the results were 22 wins at 3% 3 losses and 4 wins at 2% the total is a overwhelming 65%
  • #5,523
  • Mar 15, 2014 9:55am Mar 15, 2014 9:55am
Quoting fxpivots
is this a trend or b o? if a b o then there is no 123 {image}

Hi fxpivots

Nice thread and approach.

Will you please be able to help me by tellling me what the blue line in the chart is and why you stopped using it.

http://www.forexfactory.com/showthre...17#post7225717

or

http://www.forexfactory.com/attachme...6&d=1390261269


Thanks for your time

All the best

Rooi
We miss 100% of the shots we don't take
  • #5,524
  • Mar 15, 2014 10:32am Mar 15, 2014 10:32am
hey rooi that was not my chart someone else posted it I use no indicators
  • #5,525
  • Edited Mar 16, 2014 1:40am Mar 15, 2014 11:46am | Edited Mar 16, 2014 1:40am
Quoting fxpivots
hey rooi that was not my chart someone else posted it I use no indicators

Thanks for getting back to me
We miss 100% of the shots we don't take
  • #5,526
  • Mar 16, 2014 11:12am Mar 16, 2014 11:12am
Been doing some more backtesting and heres what I find before trading just the eu ej in forex I would get 7 to 12 recordable trades a month that is trades that won or lost only using the first that would trigger rule to enter. Now with adding oil gold and using eu and jpy all futures there are now 25 to 30 recordable trades do you know what that mean? Big money to be made
  • #5,527
  • Mar 16, 2014 8:41pm Mar 16, 2014 8:41pm
Hi fxpivots,

Nice thread with some solid information - Good work
If I'm not mistaken, aren't you also member name " Divergence " ?
If so, what happened? You could have added to the legacy of your Flag trading the Trend thread.

Thanks again for your efforts!
  • #5,528
  • Mar 17, 2014 3:12am Mar 17, 2014 3:12am
Hi fxpivots,

Firstly, I just wanted to say that I really like the simplicity of your system and really appreciate you sharing it.
I've checked out your video and have started looking at EU, EJ, and GU. I know you don't trade the Euro session, but I'm wondering if the same methods can be applied to the London morning session 7-11 am too? I'll be busily backtesting to get up to speed.

Are you able to give me some feedback on what I thought was a 123 trade on the EJ just now. Although I wasn't entirely convinced that this fits into the "end of trend" pattern, I still liked it. Does it fit the system (ignoring the fact that it's not between 7-11 EST)

Attached Image (click to enlarge)
Click to Enlarge Name: LAOUtl0.png Size: 56 KB
  • #5,529
  • Mar 17, 2014 2:11pm Mar 17, 2014 2:11pm
I am now trading futures only eu jpy oil gold. Since I am no longer in forex anymore this is my last post. I leave you with myriads of charts to study tje setups and a video and mm strategy. As far as if this can be traded in london session different time frames pairs etc thats for you to research you have the model and rules do the research or not thats your choice. I am in skype with a crowd of traders if you want to follow along no ej questions not following it anymore. Its been fun and good trading
  • #5,530
  • Mar 17, 2014 5:56pm Mar 17, 2014 5:56pm
Quoting fxpivots
I am now trading futures only eu jpy oil gold. Since I am no longer in forex anymore this is my last post. I leave you with myriads of charts to study tje setups and a video and mm strategy. As far as if this can be traded in london session different time frames pairs etc thats for you to research you have the model and rules do the research or not thats your choice. I am in skype with a crowd of traders if you want to follow along no ej questions not following it anymore. Its been fun and good trading
Why leaving a 35% per month system? It became clear to me after the strategy switch that this won't work on live trading, the rules are not clear for any trade lost you could find out many reason why you should have not entered same for any trade won. Is very easy to back-test and just pick the winners.
  • #5,531
  • Mar 17, 2014 6:18pm Mar 17, 2014 6:18pm
Just curious... What is the difference from trading oil through a futures broker, and oil through a (mostly) forex broker (Like smart trade for example). I saw they have "brent" and "wti" and use MT4 but not sure why it is better to use a traditional futures broker.
  • #5,532
  • Mar 17, 2014 6:45pm Mar 17, 2014 6:45pm
This morning I just looked for which pairs were beginning to trend and it was easy to catch two trades. U-Cad buy I did for the 2%, not because of the time but bc it was my first with this. U-CHF sell I did soon after which went the full distance.
  • #5,533
  • Mar 17, 2014 8:06pm Mar 17, 2014 8:06pm
Quoting fxpivots
I am now trading futures only eu jpy oil gold. Since I am no longer in forex anymore this is my last post. I leave you with myriads of charts to study tje setups and a video and mm strategy. As far as if this can be traded in london session different time frames pairs etc thats for you to research you have the model and rules do the research or not thats your choice. I am in skype with a crowd of traders if you want to follow along no ej questions not following it anymore. Its been fun and good trading
Thanks fxpivots, all the best!
  • #5,534
  • Mar 17, 2014 9:39pm Mar 17, 2014 9:39pm
Quoting spike00spieg
{quote} Why leaving a 35% per month system? It became clear to me after the strategy switch that this won't work on live trading, the rules are not clear for any trade lost you could find out many reason why you should have not entered same for any trade won. Is very easy to back-test and just pick the winners.
thanks for the parting shot. So rules not clear tell it to the guys in skype room. As for you i hope you find a winning strategy rather than saying things you have no knowledge about.
  • #5,535
  • Mar 17, 2014 10:27pm Mar 17, 2014 10:27pm
FXpivots,
Sorry you will be leaving. I recently read the thread/saw the video and wanted to say thanks for your work and for sharing your system It looks like a great system and I plan on trading it systematically beginning tomorrow morning. Seems like it is one of the easiest systems, yet so profitable! Wish I had connected with you guys earlier.

elway
  • #5,536
  • Mar 17, 2014 10:43pm Mar 17, 2014 10:43pm
Quoting elway
Just curious... What is the difference from trading oil through a futures broker, and oil through a (mostly) forex broker (Like smart trade for example). I saw they have "brent" and "wti" and use MT4 but not sure why it is better to use a traditional futures broker.
You will get more exact real prices
  • #5,537
  • Mar 17, 2014 11:17pm Mar 17, 2014 11:17pm
Quoting spike00spieg
{quote} Why leaving a 35% per month system? It became clear to me after the strategy switch that this won't work on live trading, the rules are not clear for any trade lost you could find out many reason why you should have not entered same for any trade won. Is very easy to back-test and just pick the winners.
Hey spike,
Just want to reply to your comments. I am posting this response because your post my discourage someone. First, Fxpivots is not leaving a profitable 35% a month system. He is migrating it to the futures market. Same system. The strategy switch has to do with money and leverage. You can research it for yourself. If you have been read a few posts up you can see there will be an increase of trades per month. Same system. A few different news rule of course. Sorry you feel like fx made excuses for losses. If you look at the example of them and the explanations I think you can see why. All of us make mistakes when trading. I started this in late Dec early Jan. It was rough months to trade. I did fantastic in Feb even though I missed some set ups and made a few blunders. Jan was rough for me but came out ahead. It wasn't the systems fault. Just a rough month to trade. THIS WORKS. I hope you go through and practice some more. One post you stated this system will fail or something like that because it doesn't have any filters. Are you kidding? This is S/R trading. Waiting for a BOPB in and of itself is a filter. Trading between 7 - 11 est is a filter. Rounding swing highs and lows by a full pip is a filter. Adding the spread to entry as simple and dumb example is a filter. Counting bars on a pull back is a filter. Counting after the low(high) of the pull back till breakout is made is a filter. Counting bars till break out filters out sideways action. I could go on but won't. To anyone reading just demo and practice and backtest and read it works
  • #5,538
  • Mar 18, 2014 2:00am Mar 18, 2014 2:00am
Quoting spike00spieg
{quote} Why leaving a 35% per month system? It became clear to me after the strategy switch that this won't work on live trading, the rules are not clear for any trade lost you could find out many reason why you should have not entered same for any trade won. Is very easy to back-test and just pick the winners.
You do not realise what become clear to me reading your ridicules post..... you are looser!!!
JacekPreserve Precious Capital
  • #5,539
  • Mar 18, 2014 3:33am Mar 18, 2014 3:33am
Quoting Slimpick
{quote} Hey spike, Just want to reply to your comments. I am posting this response because your post my discourage someone. First, Fxpivots is not leaving a profitable 35% a month system. He is migrating it to the futures market. Same system. The strategy switch has to do with money and leverage. You can research it for yourself. If you have been read a few posts up you can see there will be an increase of trades per month. Same system. A few different news rule of course. Sorry you feel like fx made excuses for losses. If you look at the example...
S/R? did the strategy changes? Is not that 123 and trend pullback? It may work well on small trades but when you trade $10 a pip and after a loosing trade you start to see.. maybe the trend was up, maybe the 123 was to big on or to small or it wasn't really at the "End of the trend" or the break-out it wasn't really a BO. There is a post here about "flag trading the trend" is an almost the same method by the same guy which went sour.
  • #5,540
  • Mar 18, 2014 3:39am Mar 18, 2014 3:39am
Quoting Jackub
{quote} You do not realise what become clear to me reading your ridicules post..... you are looser!!!
So what if I'm a looser? Everyone losses in forex at some point, that should make me feel bad? I don't think you ever traded live if you loosing is something to laugh at. This system works with a lot of experience but if you start having doubts because of the unclear rules you're doomed.
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