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Genuine 5m 4R/R system

  • #361
  • Jun 5, 2014 9:43pm Jun 5, 2014 9:43pm
Hi Rifid,
Thank you for this thread.
I also trade in a familiar way.
Your attention to detail and patience if fantastic.
Your rules for entering a trade have opened my eyes to the charts and price movement that I had not noticed before, but what I have been looking for.
I was looking for a filtering tool to try eliminate some of the bad trades, but I didn't want to use indicators, as I normally trade the first couple hours of London lagging indicators can be completely out of rhythm with what is about to happen.
I'm also a big fan of 5 Minute charts and I like your R:R.
Do you watch the charts all Asian and Euro markets or at certain times?
Also can you tell what sort monthly return you get as a %.
Cheers
Coastie.
  • #362
  • Jun 5, 2014 9:46pm Jun 5, 2014 9:46pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
I see a possible short opp setting up on A/J
  • #363
  • Jun 5, 2014 9:51pm Jun 5, 2014 9:51pm
Quoting Kitara
I see a possible short opp setting up on A/J
I see that and it might just be voiding itself as we speak if it goes much higher
patience is bitter, but its fruit is sweet
  • #364
  • Jun 5, 2014 9:54pm Jun 5, 2014 9:54pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
bummer, just breached the high.
  • #365
  • Jun 5, 2014 9:56pm Jun 5, 2014 9:56pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
we still have AU looking okay for a break down
  • #366
  • Jun 5, 2014 10:06pm Jun 5, 2014 10:06pm
Quoting coastie
Hi Rifid, Thank you for this thread. I also trade in a familiar way. Your attention to detail and patience if fantastic. Your rules for entering a trade have opened my eyes to the charts and price movement that I had not noticed before, but what I have been looking for. I was looking for a filtering tool to try eliminate some of the bad trades, but I didn't want to use indicators, as I normally trade the first couple hours of London lagging indicators can be completely out of rhythm with what is about to happen. I'm also a big fan of 5 Minute charts...
Hi Coastie ,if you go to post 310 you should find the answers to most of your questions.
Oh if you can find a proven filter , let us in on it , good luck with that
patience is bitter, but its fruit is sweet
  • #367
  • Jun 5, 2014 10:30pm Jun 5, 2014 10:30pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
AU still looking nice rifid, but I'm too sleepy to watch tonight. Best of luck on your trading today!
  • #368
  • Jun 5, 2014 10:31pm Jun 5, 2014 10:31pm
Thanks Rifid,
Would you say the EUR/AUD is setting up for a long?
cheers
Coastie.
  • #369
  • Jun 5, 2014 10:42pm Jun 5, 2014 10:42pm
Quoting Kitara
AU still looking nice rifid, but I'm too sleepy to watch tonight. Best of luck on your trading today!
patience is bitter, but its fruit is sweet
  • #370
  • Jun 5, 2014 10:44pm Jun 5, 2014 10:44pm
Quoting coastie
Thanks Rifid, Would you say the EUR/AUD is setting up for a long? cheers Coastie.
Possibly will keep an eye on it , thanks
patience is bitter, but its fruit is sweet
  • #371
  • Jun 5, 2014 11:43pm Jun 5, 2014 11:43pm
Good morning guys... I overslept this morning by an hour - damn, was a rush to get ready...
Going to be a roller coaster afternoon, though - lots of news out...
Happy hunting, people! Hit those pips...
Itchy Spirit Return This Year: na
  • #372
  • Jun 5, 2014 11:53pm Jun 5, 2014 11:53pm
This is all I see at the moment... NZD/JPY & NZD/USD both look the same...
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpym5.png Size: 34 KB
Itchy Spirit Return This Year: na
  • #373
  • Jun 5, 2014 11:58pm Jun 5, 2014 11:58pm
Quoting Spiritwalker
This is all I see at the moment... NZD/JPY & NZD/USD both look the same... {image}
interesting thx
patience is bitter, but its fruit is sweet
  • #374
  • Jun 6, 2014 12:54am Jun 6, 2014 12:54am
Quoting Spiritwalker
This is all I see at the moment... NZD/JPY & NZD/USD both look the same... {image}
Hi Spiritwalker

Your opinion would be appreciated with regards to your last chart. I thought we are suppose to trade with the trend after some consolidation, triangle formation and specific rules as per RIFID's examples and indications.

When I look at the hidden left side of your chart, it seems to me that we are in a uptrend on the NZDUSD and NZDJPY. The set-up seems more like a counter trend. (I included snapshot herein)

Thanks for your input.
  • #375
  • Jun 6, 2014 12:56am Jun 6, 2014 12:56am
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD M5.jpg Size: 196 KB
  • #376
  • Jun 6, 2014 1:02am Jun 6, 2014 1:02am
Hi Spar

Included is a 4H chart... Trend is down - I ignore 5min "trends" as they usually don't represent the actual trend, and it's easy to lose sight of where the price action is heading...

So here is my opinion : On the NZD pairs I would much rather take shorts at the moment than longs, since PA has been heading south for quite some time. What I see on 5min is a actually a smallish retrace, and an excellent opportunity to add to existing shorts on longer term trades (if you had any.) The very first rule I learned when I started trading, and trust me, I learned it the hard way : "The trend is your friend."
Again - this is just my opinion, and should not be taken as advice or trade indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh4.png Size: 36 KB
Itchy Spirit Return This Year: na
  • #377
  • Jun 6, 2014 1:06am Jun 6, 2014 1:06am
Just be aware some of these pairs are trying to line us up for shorts, but i reckon there long term plan is to continue north, any thoughts?
patience is bitter, but its fruit is sweet
  • #378
  • Jun 6, 2014 1:10am Jun 6, 2014 1:10am
Quoting Spiritwalker
Hi Spar. Included is a 4H chart... Trend is down - I ignore 5min "trends" as they usually don't represent the actual trend, and it's easy to lose sight of where the price action is heading... So here is my opinion : On the NZD pairs I would much rather take shorts at the moment than longs, since PA has been heading south for quite some time. What I see on 5min is a actually a smallish retrace, and an excellent opportunity to add to existing shorts on longer term trades (if you had any.) The very first rule I learned when I started trading, and trust me, I learned it the hard way : "The trend is your friend."



Thanks for sharing your experience and opinion Spiritwalker. True that H4 and Daily are downtrend... but I usually only look at 1 or 2 time-frames higher with a scalping strategy.

"The trend is your friend." ..... I am learning the hard way as well ... as I have better friends out there. LOL

A+
  • #379
  • Jun 6, 2014 1:11am Jun 6, 2014 1:11am
Quoting Spiritwalker
Hi Spar Included is a 4H chart... Trend is down - I ignore 5min "trends" as they usually don't represent the actual trend, and it's easy to lose sight of where the price action is heading... So here is my opinion : On the NZD pairs I would much rather take shorts at the moment than longs, since PA has been heading south for quite some time. What I see on 5min is a actually a smallish retrace, and an excellent opportunity to add to existing shorts on longer term trades (if you had any.) The very first rule I learned when I started trading, and trust...
patience is bitter, but its fruit is sweet
  • #380
  • Jun 6, 2014 1:11am Jun 6, 2014 1:11am
Quoting rifid
Just be aware some of these pairs are trying to line us up for shorts, but i reckon there long term plan is to continue north, any thoughts?
On most I am long biased... Have longs on USD/CAD & USD/JPY, and shorts on USD/CHF... Keep in mind that these trades have been taken on 1H & 4H charts, and according to another system, not this one. I have had these positions since mid May and onwards. Personally I would not take any more trades today, as I expect another choppy ride like yesterday - if not worse.
Itchy Spirit Return This Year: na
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