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Genuine 5m 4R/R system

  • #61
  • Edited 9:33pm Jun 1, 2014 9:14pm | Edited 9:33pm
GOOD result ,nice start for the week, it took awhile in a slow moving market, Hope some of you are following this method managed to get this trade.If not keep scanning the pairs another one is just around the corner, and dont forget to share what you find
patience is bitter, but its fruit is sweet
  • #62
  • Edited 10:22pm Jun 1, 2014 10:05pm | Edited 10:22pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy+m5.png Size: 32 KB


I particularly liked this entry as it has the characteristics to look for that will give you the best possible chance of success.
You will notice that there are 4 points of resistence and the final point is the completion of a long consolidation of an uptrend, squash your 5m chart up a bit and you will see it better. This is not to say that other POINT to POINT set-ups dont work but these i have found are the strongest ones.

Feel free to ask Questions or your thoughts on this method or post charts
patience is bitter, but its fruit is sweet
  • #63
  • Jun 1, 2014 10:29pm Jun 1, 2014 10:29pm
i'm in
Holy grail, pls pm
  • #64
  • Jun 1, 2014 10:37pm Jun 1, 2014 10:37pm
This is the best method I have seen in a long time, it's a clean, pure trading with no silly indicators. I'm in.
  • #65
  • Jun 1, 2014 10:39pm Jun 1, 2014 10:39pm
Quoting iamgotzaa
i'm in
Welcome iamgotzaa
patience is bitter, but its fruit is sweet
  • #66
  • Jun 1, 2014 11:04pm Jun 1, 2014 11:04pm
Quoting tradewins1
This is the best method I have seen in a long time, it's a clean, pure trading with no silly indicators. I'm in.
Welcome Tradewins, i hope you have some
patience is bitter, but its fruit is sweet
  • #67
  • Jun 1, 2014 11:06pm Jun 1, 2014 11:06pm
nice system, rifid...
please continue...

subscribed!

brgrds,
st888
  • #68
  • Jun 1, 2014 11:12pm Jun 1, 2014 11:12pm
Quoting seatrader888
nice system, rifid... please continue... subscribed! brgrds, st888
Welcome aboard seatrader
patience is bitter, but its fruit is sweet
  • #69
  • Jun 2, 2014 12:32am Jun 2, 2014 12:32am
Thanks! I've been stalking here for 10+ years and this thread already is one of the best ever!!
  • #70
  • Edited 1:18am Jun 2, 2014 12:42am | Edited 1:18am
Hi rifid,

Any comment on the chart? White arrow is trigger candle. Although gold is high spread but I used to trade it.
R:R remain = 4R/R
Update: Broker time 07:16 trigger (1247.25), 09:11 T/P hit (1241.45), S/L (1248.75)
Attached Image (click to enlarge)
Click to Enlarge Name: xauusdm5.png Size: 21 KB
  • #71
  • Jun 2, 2014 1:01am Jun 2, 2014 1:01am
Quoting sam2vt
Hi rifid, Any comment on the chart? White arrow is trigger candle. Although gold is high spread but I used to trade it. {image}
Hi Sam,
Thanks for posting the chart, it is the quickest way to learn this method.
What i am looking for in good setups are for at least 2 inline points running in the same line,for example if you had another point inline with your last one that would become a valid setup ,your first 2 points ad to confirmation of a support line but not to an entry. This might sound picky and reduce the number of trade entries but we are looking for high quality setups that have the best chance of succeding, Nice trade anyway hope you were in it.
patience is bitter, but its fruit is sweet
  • #72
  • Jun 2, 2014 1:21am Jun 2, 2014 1:21am
Quoting rifid
{quote} Hi Sam, Thanks for posting the chart, it is the quickest way to learn this method. What i am looking for in good setups are for at least 2 inline points running in the same line,for example if you had another point inline with your last one that would become a valid setup ,your first 2 points ad to confirmation of a support line but not to an entry. This might sound picky and reduce the number of trade entries but we are looking for high quality setups that have the best chance of succeding, Nice trade anyway hope you were in it.

Thanks for the explanation, now I got clearer picture of high quality setup. I need to be picky cox I only look for 1 or 2 trade per week to achieve my weekly target.

The chart I posted jut got T/P hit. Anyway... demo only

Keep up the good job rifid!!
  • #73
  • Jun 2, 2014 3:33am Jun 2, 2014 3:33am
Anyone notice whats happening on the US/yen ?A nice consolidation similar to earlier in the day , lets see if price will come up to 102.07 and give us another entry set up
patience is bitter, but its fruit is sweet
  • #74
  • Jun 2, 2014 4:01am Jun 2, 2014 4:01am
Hi rifid. I'm trying to grasp your method here. I have a few question about this method.
Here's USDCAD M5 chart.

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.im5.png Size: 14 KB


Does the 2nd bounce (aqua circle) invalidating the setup, or the setup still valid after 3rd bounce (second red arrow)? You said the second bounce cannot be lower than 1st, but maybe higher.
Do you use pending order or market order to open the position in this method?

Thank you,
Pipmunks
  • #75
  • Jun 2, 2014 4:18am Jun 2, 2014 4:18am
Quoting pipmunks
Hi rifid. I'm trying to grasp your method here. I have a few question about this method. Here's USDCAD M5 chart. {image} Does the 2nd bounce (aqua circle) invalidating the setup, or the setup still valid after 3rd bounce (second red arrow)? You said the second bounce cannot be lower than 1st, but maybe higher. Do you use pending order or market order to open the position in this method? Thank you, Pipmunks
Hi Pipmunks,
This is a good setup,all tops line up nicely, just keep in mind that the CAD is very slow moving at the moment ,you will see on the side bar that there is only 1.5pips between the price bars, i generally like to have a least 3 pips ,5 is even better ,it indicates that the market is in good movement and the chances of getting to your T/P quick are better. Also have a look on the 1hr chart and you will see it is pretty messy and possible resistance at 1.08601.
In regard to orders ,as soon as you see a valid set up place a pending order and S/L. Hope that helps
patience is bitter, but its fruit is sweet
  • #76
  • Jun 2, 2014 4:18am Jun 2, 2014 4:18am
subscribed! simple and effective...
  • #77
  • Jun 2, 2014 4:26am Jun 2, 2014 4:26am
Quoting rifid
{quote} Hi Pipmunks, This is a good setup,all tops line up nicely, just keep in mind that the CAD is very slow moving at the moment ,you will see on the side bar that there is only 1.5pips between the price bars, i generally like to have a least 3 pips ,5 is even better ,it indicates that the market is in good movement and the chances of getting to your T/P quick are better. Also have a look on the 1hr chart and you will see it is pretty messy and possible resistance at 1.08601. In regard to orders ,as soon as you see a valid set up place a pending...
Another question if you don't mind. How do you determine the SL size & TP placement? Do you always use 1:4 SL:TP size?
How do you manage the position after it's opened? Do you use any BE or trailing SL?

Thank you,
Pipmunks
  • #78
  • Jun 2, 2014 4:33am Jun 2, 2014 4:33am
Quoting pipmunks
{quote} Another question if you don't mind. How do you determine the SL size & TP placement? Do you always use 1:4 SL:TP size? How do you manage the position after it's opened? Do you use any BE or trailing SL? Thank you, Pipmunks
Might be best if you go back over my prevous postings and charts ,it is all explained there ,if your still not sure let me know.
patience is bitter, but its fruit is sweet
  • #79
  • Jun 2, 2014 4:58am Jun 2, 2014 4:58am
Quoting rifid
{quote} Might be best if you go back over my prevous postings and charts ,it is all explained there ,if your still not sure let me know.
Found it. I must be missed it while read from 1st page . So it's constant 5 SL 20 TP & BE @ 75% near TP.
  • #80
  • Jun 2, 2014 5:03am Jun 2, 2014 5:03am
Quoting pipmunks
{quote} Found it. I must be missed it while read from 1st page . So it's constant 5 SL 20 TP & BE @ 75% near TP.
you got it
patience is bitter, but its fruit is sweet
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