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Genuine 5m 4R/R system

  • #141
  • Jun 3, 2014 6:31am Jun 3, 2014 6:31am
NJ=NZD/JPY Spread a bit high
I trade 2 lots. One lot out at +6 or 7 depending on comm. After that no risk for the last lot at S/L -5
  • #142
  • Jun 3, 2014 6:31am Jun 3, 2014 6:31am
Aaaaaaaand order cancelled... It didn't make it...
Itchy Spirit Return This Year: na
  • #143
  • Jun 3, 2014 6:31am Jun 3, 2014 6:31am
U/J has just voided itself by going below previous low
patience is bitter, but its fruit is sweet
  • #144
  • Jun 3, 2014 7:06am Jun 3, 2014 7:06am
Hi rifid.
I want to post this setup before this occur, but it break too fast.
How's your opinion about this setup, is it valid or not?
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.png Size: 17 KB
  • #145
  • Jun 3, 2014 7:18am Jun 3, 2014 7:18am
Quoting pipmunks
Hi rifid. I want to post this setup before this occur, but it break too fast. How's your opinion about this setup, is it valid or not? {image}
Hi Pipmunks ,this trade voided itself when it broke the previous low, is that what you are refering too?
patience is bitter, but its fruit is sweet
  • #146
  • Jun 3, 2014 7:45am Jun 3, 2014 7:45am
Quoting rifid
{quote} You might think i am nit picking , specially since this trade won for you ,but the last low was actually lower than the one before it which breaks the set up rules, very close though and technically it did change trend aswell so thats ok, also the second top point was lower than the first which is a no no,does this answer your question?
rifid, I agree. we need to pick the clear, clean set up.
  • #147
  • Jun 3, 2014 7:45am Jun 3, 2014 7:45am
Quoting rifid
{quote} Hi Pipmunks ,this trade voided itself when it broke the previous low, is that what you are refering too?
I'm referring to the short setup. Does the 2 bar retracement before the break too small to make the setup qualified?
  • #148
  • Jun 3, 2014 7:55am Jun 3, 2014 7:55am
Quoting pipmunks
Hi rifid. I want to post this setup before this occur, but it break too fast. How's your opinion about this setup, is it valid or not? {image}
pipmunks, nice setup but I dont see triangle in your chart but square This is what rifid reply to me "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.".
  • #149
  • Jun 3, 2014 7:58am Jun 3, 2014 7:58am
Quoting mario777
{quote} rifid, I agree. we need to pick the clear, clean set up.
You go it Mario. the clearer and cleaner the set up the better they work.
You do have to be patient with this method and put in the chart time ,but at the end of every week you will be glad you did.
It does not take many 4 rr trades to make a living
patience is bitter, but its fruit is sweet
  • #150
  • Jun 3, 2014 7:59am Jun 3, 2014 7:59am
Quoting mario777
{quote} pipmunks, nice setup but I dont see triangle in your chart but square This is what rifid reply to me "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.".
patience is bitter, but its fruit is sweet
  • #151
  • Jun 3, 2014 8:49am Jun 3, 2014 8:49am
New here.

Possible setup on U/J??

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy!m5.png Size: 42 KB
  • #152
  • Jun 3, 2014 8:49am Jun 3, 2014 8:49am
rifid, I hope this is a valid setup on AUDCAD. Lets see how it goes.
Attached Image (click to enlarge)
Click to Enlarge Name: fx.png Size: 17 KB
  • #153
  • Jun 3, 2014 9:00am Jun 3, 2014 9:00am
The a/u and e/j is pretty close to what we are looking for
patience is bitter, but its fruit is sweet
  • #154
  • Jun 3, 2014 9:14am Jun 3, 2014 9:14am
Long setup forming on USD/CAD... Order at 1.09216... For now...
Itchy Spirit Return This Year: na
  • #155
  • Jun 3, 2014 9:18am Jun 3, 2014 9:18am
BTW, rifid - I applied your system on the USD/JPY 1H... Long orders were hit @ 102.480 & 102.495... SL @ 102.340, and TP @ 102.800... Just playing around with it...
Itchy Spirit Return This Year: na
  • #156
  • Jun 3, 2014 9:25am Jun 3, 2014 9:25am
Rifid,

In your experience trading this method, what is your estimation about the win rate? does it reach 55% winning trade?

Danzka
In the end its just a stupid numbers game
  • #157
  • Jun 3, 2014 9:26am Jun 3, 2014 9:26am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Hello rifid and all,
I took the A/U break down. Seeing if it'll go back to the low of .9235 area. rifid, you put in some long hours!! Do you trade up until NY lunch, or is this a longer day than usual for you? I've been trading now for a little under 10 years. I find the longer I do this, the lazier I become. Meaning the less screen time I want to do So now I do a one entry system on A/U every day except the high news days. Which means less than 10 trades a month now. My husband does a swing system using a 4 hour geppy chart. However, I like your system and we have vacation coming up soon. I'm going to see if this will buy us a few extra cocktails at the beach.
  • #158
  • Jun 3, 2014 9:28am Jun 3, 2014 9:28am
Quoting Spiritwalker
BTW, rifid - I applied your system on the USD/JPY 1H... Long orders were hit @ 102.480 & 102.495... SL @ 102.340, and TP @ 102.800... Just playing around with it...
Good luck with that, it might just get there too
patience is bitter, but its fruit is sweet
  • #159
  • Jun 3, 2014 9:30am Jun 3, 2014 9:30am
Quoting Spiritwalker
Long setup forming on USD/CAD... Order at 1.09216... For now...
thanks i will monitor that
patience is bitter, but its fruit is sweet
  • #160
  • Jun 3, 2014 9:38am Jun 3, 2014 9:38am
Quoting danzka
Rifid, In your experience trading this method, what is your estimation about the win rate? does it reach 55% winning trade? Danzka
If your patient and are prepared to wait for good set ups you will get 50% easily.
with trading its a numbers game ,the more good setups you find the more trades/wins you get. But one person can scan only so many pairs at once , thats why if we work together and advise each other of pending setups it takes a lot of load of the individual.Many pending setups dont actually form into trades but its good to notified of them so they can be monitored. Make sense?
patience is bitter, but its fruit is sweet
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