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Genuine 5m 4R/R system

  • #81
  • Jun 2, 2014 7:26am Jun 2, 2014 7:26am
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Hi Rifid,

I've been doing some back testing on your method and came across this one. Do you think it's a valid trade?
  • #82
  • Jun 2, 2014 7:33am Jun 2, 2014 7:33am
Anyone get into the Us/Y ?
patience is bitter, but its fruit is sweet
  • #83
  • Jun 2, 2014 7:46am Jun 2, 2014 7:46am
Gone to +10 very steeply should have retracement then hopefully will continue,has plenty of room to move now,
patience is bitter, but its fruit is sweet
  • #84
  • Jun 2, 2014 7:51am Jun 2, 2014 7:51am
S/l to break even
patience is bitter, but its fruit is sweet
  • #85
  • Jun 2, 2014 8:00am Jun 2, 2014 8:00am
Please help me on this one...

I looked at his trade and I am a bit unsure. Do you enter when price break 102.35 (the high of this morning), or at 102.14 (the high of Thuesday 27/5 - clearly a resistance level on H1) ?

Do you consider the trade against the question if it provides enouth room (20pips +) up to the next major resistance level at 102.353 before you enter on such a trade?
  • #86
  • Jun 2, 2014 8:04am Jun 2, 2014 8:04am
Quoting tradewins1
{image} Hi Rifid, I've been doing some back testing on your method and came across this one. Do you think it's a valid trade?
Hi Tradewins,
I looked up my records and i took this trade, classic setup, nice consolidation of a down trend showing lots of points of support, then one last small retracement and bang.
If you see one of these setups developing on any pair let us know so we can all profit
patience is bitter, but its fruit is sweet
  • #87
  • Jun 2, 2014 8:21am Jun 2, 2014 8:21am
Ok, will do, I like this idea of sharing so everyone can benefit
  • #88
  • Jun 2, 2014 8:28am Jun 2, 2014 8:28am
Quoting rifid
S/l to break even
rifid, thanks for this system. I got all my 20 pips TP on UJ,EJ and GJ.

and AUDCAD is now at 13 pips.
  • #89
  • Jun 2, 2014 8:28am Jun 2, 2014 8:28am
congrats to everyone who got that one +20 4x risk
patience is bitter, but its fruit is sweet
  • #90
  • Jun 2, 2014 8:34am Jun 2, 2014 8:34am
Quoting mario777
{quote} rifid, thanks for this system. I got all my TP on UJ,EJ and GJ.
Thats great Mario,dont forget to share any set up you see forming so every one can get in on it, good start to the week
patience is bitter, but its fruit is sweet
  • #91
  • Jun 2, 2014 8:38am Jun 2, 2014 8:38am
Cant see a valid entry on the au/cad Mario
patience is bitter, but its fruit is sweet
  • #92
  • Jun 2, 2014 8:50am Jun 2, 2014 8:50am
Quoting rifid
Cant see a valid entry on the au/cad Mario
how about this? I need your comment.
Attached Image (click to enlarge)
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  • #93
  • Jun 2, 2014 9:00am Jun 2, 2014 9:00am
Quoting mario777
{quote} how about this? I need your comment. {image}
Ok i see what you have done,thats not quite what we are looking for ,your us/y and gb/y trades were correct but not your cad or e/y. What you need to look for is a line of resistance or support and the retracements getting smaller as the price gets closer the S/R. We need to keep it tight otherwise we end up just taking anytrade and the whole system falls apart.
Keep up the good work
patience is bitter, but its fruit is sweet
  • #94
  • Jun 2, 2014 9:06am Jun 2, 2014 9:06am
Quoting seavag
Thanks! I've been stalking here for 10+ years and this thread already is one of the best ever!!
Welcome Seavag,
patience is bitter, but its fruit is sweet
  • #95
  • Jun 2, 2014 9:17am Jun 2, 2014 9:17am
potential set up ?
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  • #96
  • Jun 2, 2014 9:18am Jun 2, 2014 9:18am
Nice thread Rifid, I really like your system, thanks for sharing! But a question/request - Kindly suggest a broker where the spreads are 1.5 pips or below, as yen pairs spread in many broker platforms sometime vary by a big margin.
  • #97
  • Jun 2, 2014 9:25am Jun 2, 2014 9:25am
Quoting shiva
Nice thread Rifid, I really like your system, thanks for sharing! But a question/request - Kindly suggest a broker where the spreads are 1.5 pips or below, as yen pairs spread in many broker platforms sometime vary by a big margin.
Hi Shiva, i am not sure whether the rules allow me to recommend brokers ,but i did mention mine in a previous post.
patience is bitter, but its fruit is sweet
  • #98
  • Jun 2, 2014 9:28am Jun 2, 2014 9:28am
Quoting b0n3less
potential set up ?{image}
I did look at this set up ,it is a little untidy though for me ,but thanks for the heads up,others may act on it let me know how it goes
patience is bitter, but its fruit is sweet
  • #99
  • Jun 2, 2014 9:40am Jun 2, 2014 9:40am
Quoting rifid
{quote} Hi Shiva, i am not sure whether the rules allow me to recommend brokers ,but i did mention mine in a previous post.
Ah yes, could be trouble if you name brokers, I missed your earlier post, got it now thanks.
  • #100
  • Jun 2, 2014 9:53am Jun 2, 2014 9:53am
great thread Rifid enjoying it no set ups at present for - it will be great im sure my own 5 min system has started to suffer lately because of the reduced av. daily range
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