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Genuine 5m 4R/R system

  • #41
  • May 31, 2014 1:57pm May 31, 2014 1:57pm
Looking forward.
  • #42
  • May 31, 2014 5:46pm May 31, 2014 5:46pm
Quoting rifid
The aim of the rules in this system is to try and put as many things in your favour as possible and give us the best possible chance of a successful trade, but there are other things to take into account as well ,as this is basically a support and resistence method , we need to look at the chart we are trading in many different ways to get a broad picture of what is going on and not just blindly take a trade because because the entry looks good, things i do is maybe to squash chart up a little to get a better perspective of whats going on and also...


well, you have yet to describe the trade set up, the triangle formation. what is the max trade losses you will take a day ?
  • #43
  • May 31, 2014 5:47pm May 31, 2014 5:47pm
Ok lets just get realistic here for a minute about expectations for this method, i have been very upfront of what you should be able to expect once you have practiced it, any suggestion that you will get 70% success rate out of a 4/4 R/R system is pie in the sky dreaming, you will get it some weeks but on average no.But then again maybe there are some real smart traders out there RTM ? if so share your wisdom.
AS for spreads ,yes this system is very sensitive to large spreads and if you decide to use it ,best if you find a broker that fits . I use Vantage Fx on their RAW account, very low spreads, gernerally dosn;t move except in very big news, they will charge a small commission in exchange for the small spread but this can be factored in to your costings .

Charts will come soon .I will show you a range of winning and loosing charts so you see the diffence for your self and then you can go and back test the system .
patience is bitter, but its fruit is sweet
  • #44
  • May 31, 2014 7:55pm May 31, 2014 7:55pm
.Ok Sorry for the delay ,power and internet is sometimes intermitent in my area. I have posted this chart first because it shows clearly what we will be looking for ,it is a continuation pattern of an already established trend ,and you can clearly see the POINT to POINTs marked by the 2 green arrows we are looking for, you need a minimum of 2 to qualify and they need to be inline forming resistance ,although the second or last one can be slightly higher ,but not lower.
You will notice that the bottom points of this pattern are gradually comming up show that the buyers are slowly growing in strength. when the second point is confirmed ,we should now be on alert of a posible trade setup, but dont get to excited yet, what needs to happen now is another small retracement but smaller than the previous and it must create a nice clean void after the second point. The moment it does this you are free to set your buy and S/L order and wait for the market to move. The lines marked are red for S/L ,yellow for entry and green for T/P. This was taken in a very fast moving market with a clean set-up they dont always look this pretty. The red arrow shows the entry candle, and as you can see it punches straight thru your enrty and 20 min later hits your T/P
http://www.forexfactory.com/attachme...1&d=1401589390
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy+m5.png1.png Size: 32 KB
patience is bitter, but its fruit is sweet
  • #45
  • May 31, 2014 8:15pm May 31, 2014 8:15pm
.Ok next chart, once again you can see we are in a trend, we can see the 2nd point formed and confirmed and a void created after the second point, this one does not give you alot of notice so you need to be on the ball, this one also went to T/P very quickly .Second point is slightly higher than the first but that is okhttp://www.forexfactory.com/attachme...1&d=1401592171
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy+m5.png Size: 36 KB
patience is bitter, but its fruit is sweet
  • #46
  • Edited Jun 1, 2014 6:12am May 31, 2014 8:44pm | Edited Jun 1, 2014 6:12am
.This is interesting one as it looks like a side ways market, but if you squash your chart up a bit you will see that it is just a fairly long consolidation of a down trend. You will also notice that the last retracement is fairly pinny which is usually not a good sign but in this case you can see each of the candle sticks ends down in a hangman style fashion indicating that the sellers are stronger than the buyers ,then the buyers finnally give up and the price crashes thru your entry and hits your T/P in less than 5min, The charts i have shown you so far are all winners to show you what to look for but you will get loosers aswell The best thing for you to do now is go to your charts and back test and get your eyes trained to pick up these patterns and when you think you have got one post it on the thread and i can critique it for you, ANY QUESTIONS SO FAR?. theTh The http://www.forexfactory.com/attachme...1&d=1401593293
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy+m5.png Size: 38 KB
patience is bitter, but its fruit is sweet
  • #47
  • May 31, 2014 9:32pm May 31, 2014 9:32pm
Hi Rifid,

Is there a valid sell trade on 1st pic to the left? Two points in line and top points gradually comming down?

lpd
fxkeys
  • #48
  • May 31, 2014 9:42pm May 31, 2014 9:42pm
Quoting dragan9
Hi Rifid, Is there a valid sell trade on 1st pic to the left? Two points in line and top points gradually comming down? lpd
Dragan , can you copy the chart please so i know excactly which one your talking about,Thanks
patience is bitter, but its fruit is sweet
  • #49
  • May 31, 2014 9:45pm May 31, 2014 9:45pm
It is your 1st chart.

lpd
fxkeys
  • #50
  • May 31, 2014 9:57pm May 31, 2014 9:57pm
OK Dradon is see the set up you are reffering to ,looks nice doesnt it, but i would not take this trade for a couple of reasons, you will notice the last retracement is slightly higher than the one before ,which breaks the rules ,and that big candle you see there is actually news ,probably red flag news and you should not place trades that close to big news ,hope that helps.

The best and quickest way to learn this system is to back test for yourself and post charts so we can discuss them ,i will be here for most of the day as the weather is crap atm so it is going to be an inside day today.
patience is bitter, but its fruit is sweet
  • #51
  • Jun 1, 2014 12:22am Jun 1, 2014 12:22am
Thanks for the share. It's funny how you say to squash the chart to see it better. I used to use a bar chart and squash the chart to suddenly see all the patterns. For me, it just made it easier.

jt
"Even if you fall down face first, you still went forward."
  • #52
  • Jun 1, 2014 12:29am Jun 1, 2014 12:29am
Quoting juicyt
Thanks for the share. It's funny how you say to squash the chart to see it better. I used to use a bar chart and squash the chart to suddenly see all the patterns. For me, it just made it easier. jt
That's the only way to see the whole picture ... Amazing how things become easier when you realize that ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #53
  • Jun 1, 2014 1:06am Jun 1, 2014 1:06am
Please could you explain the word " pinny " (post 46).

I want to upload a chart, but when I do it with " Upload Screenshot " and look to " Preview ", there is only an attachement and not a picture. What I' m doing wrong?
  • #54
  • Jun 1, 2014 1:11am Jun 1, 2014 1:11am
please some one can explain ..why it is not like /similar to 5 min sup res and 123 patern system (ff)
Say something meaningful or Silence!!
  • #55
  • Jun 1, 2014 1:34am Jun 1, 2014 1:34am
Quoting Traffex
Please could you explain the word " pinny " (post 46). I want to upload a chart, but when I do it with " Upload Screenshot " and look to " Preview ", there is only an attachement and not a picture. What I' m doing wrong?
Hi Traffex, what i mean by "pinny" is the shape of the candle sticks in the last retracement, you will notice that there are large wicks in the make up of the candle rather than a solid body, when you have large wicks on the top and bottom of the body it indicates indicision in the market, buyers fighting the sellers ,this is generally not a good trading enviroment. If you want to learn more about candlesticks or trading in general a good place to start is Baby Pips School OF Pips,just google it.

As for posting charts,someone smarter than me maybe able to help you , i will throw that open ,can anybody help Traffex Please.
patience is bitter, but its fruit is sweet
  • #56
  • Jun 1, 2014 1:52am Jun 1, 2014 1:52am
Quoting rifid
{quote} Hi Traffex, what i mean by "pinny" is the shape of the candle sticks in the last retracement, you will notice that there are large wicks in the make up of the candle rather than a solid body, when you have large wicks on the top and bottom of the body it indicates indicision in the market, buyers fighting the sellers ,this is generally not a good trading enviroment. If you want to learn more about candlesticks or trading in general a good place to start is Baby Pips School OF Pips,just google it. As for posting charts,someone smarter than...
Thank you rifid. I know candlesticks very well, I did'nt only understand this word.
  • #57
  • Jun 1, 2014 5:41pm Jun 1, 2014 5:41pm
Good Morning guys, Just turned the computor on and there was a setup on U/jpy at 102.85 ,its in an uptrend, it has plenty of room to move to get to 20pts ,to late for me to get into. did anybody else get on to it ?
patience is bitter, but its fruit is sweet
  • #58
  • Jun 1, 2014 5:57pm Jun 1, 2014 5:57pm
Quoting rifid
Good Morning guys, Just turned the computor on and there was a setup on U/jpy at 102.85 ,its in an uptrend, it has plenty of room to move to get to 20pts ,to late for me to get into. did anybody else get on to it ?

Hi Rifid, I presume you mean 101.85..?

Cheers
  • #59
  • Jun 1, 2014 6:05pm Jun 1, 2014 6:05pm
yea right ,my eyes are still a bit blurry ,must put my glasses on
patience is bitter, but its fruit is sweet
  • #60
  • Jun 1, 2014 6:23pm Jun 1, 2014 6:23pm
If anybody managed to get into this trade you should have you T/P on by now, also there is red Ozzie news comming up shortly,it may not have much effect on this pair but it might be a good idea to bring your stop to B/E just before the news,good luck with it , keep a good look out for other set ups too
patience is bitter, but its fruit is sweet
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