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Genuine 5m 4R/R system

  • #641
  • Jun 10, 2014 6:26am Jun 10, 2014 6:26am
Quoting rifid
{quote} If you mean the one earlier in the day, i didnt get it ,too early for me , but some in the group did. They should have woken me up eh
Lol i miss that one too. Still in dreamland. One of the best if not the best strategies around. GJ

Thank you and cheers.
  • #642
  • Jun 10, 2014 6:26am Jun 10, 2014 6:26am
Quoting rifid
{quote} If you mean the one earlier in the day, i didnt get it ,too early for me , but some in the group did. They should have woken me up eh
Maybe some brainiac could work out an sms alert system when good trades come along
patience is bitter, but its fruit is sweet
  • #643
  • Jun 10, 2014 6:59am Jun 10, 2014 6:59am
Hi Rifid,

Thanks for posting the concept and the continued feedback along the way. I tried my first demo test of the concept last night. It didn't work out but a fresh look at it this morning made it clear why it was flawed from the start so at least I learned something from it.

One question I haven't seen in the thread so far though is when you see setups on multiple correlated pairs (i.e. E/J and G/J, etc.) do you typically take the better looking one, take both or split your risk (i.e. take 1% on each rather than your usual 2%)?
  • #644
  • Jun 10, 2014 7:10am Jun 10, 2014 7:10am
USDCHF seems forming.
  • #645
  • Jun 10, 2014 7:17am Jun 10, 2014 7:17am
Quoting fx_malloc
Hi Rifid, Thanks for posting the concept and the continued feedback along the way. I tried my first demo test of the concept last night. It didn't work out but a fresh look at it this morning made it clear why it was flawed from the start so at least I learned something from it. One question I haven't seen in the thread so far though is when you see setups on multiple correlated pairs (i.e. E/J and G/J, etc.) do you typically take the better looking one, take both or split your risk (i.e. take 1% on each rather than your usual 2%)?
Interesting question, and it really depends on your tolerance to risk, i once took 3 trades within 15m as they where all perfect setups and all won with-in 45m , but that dos"nt happen often. So in answer to your question if you see mutiple good setups dont get greedy just take the best looking one and be happy to get your 8%, until you get more experience with the system
patience is bitter, but its fruit is sweet
  • #646
  • Jun 10, 2014 7:40am Jun 10, 2014 7:40am
Rifid,

Thank you for your method, I don't call it a system because it is screen time what makes it work. I have observed this PA over years but never put it into something. I have been trading H1 for some time but I might steer to M5 and it's great to hear that you were trading it for long time with success. I hope to contribute to this thread as well as others.

Kind regards,
Airidas

P.S AUDJPY might drop something..watching
  • #647
  • Jun 10, 2014 7:49am Jun 10, 2014 7:49am
Quoting 2121
Rifid, Thank you for your method, I don't call it a system because it is screen time what makes it work. I have observed this PA over years but never put it into something. I have been trading H1 for some time but I might steer to M5 and it's great to hear that you were trading it for long time with success. I hope to contribute to this thread as well as others. Kind regards, Airidas P.S AUDJPY might drop something..watching
cheers
patience is bitter, but its fruit is sweet
  • #648
  • Jun 10, 2014 7:56am Jun 10, 2014 7:56am
Can the E/j strike for the 4th time today ?
patience is bitter, but its fruit is sweet
  • #649
  • Jun 10, 2014 9:25am Jun 10, 2014 9:25am
no more from the e/j for a while ,so goodnight from me
patience is bitter, but its fruit is sweet
  • #650
  • Jun 10, 2014 9:27am Jun 10, 2014 9:27am
Quoting rifid
no more from the e/j for a while ,so goodnight from me
bye, see you tomorrow
  • #651
  • Jun 10, 2014 9:40am Jun 10, 2014 9:40am
Missed a nice one on GJ about 1 hour 20mins ago.... wasn't watching intently
  • #652
  • Jun 10, 2014 10:03am Jun 10, 2014 10:03am
Quoting PipsiKoala
Missed a nice one on GJ about 1 hour 20mins ago.... wasn't watching intently
can you post a screenshot? i see nothing on GJ
  • #653
  • Jun 10, 2014 10:40am Jun 10, 2014 10:40am
Good day all. Watching GBPUSD
  • #654
  • Jun 10, 2014 11:08am Jun 10, 2014 11:08am
Quoting Brdino
{quote} can you post a screenshot? i see nothing on GJ
Attached Image (click to enlarge)
Click to Enlarge Name: 10Jun14 GBPJPY.png Size: 16 KB
  • #655
  • Edited 11:57am Jun 10, 2014 11:11am | Edited 11:57am
Watching ucad (on 30min) and eur too
  • #656
  • Jun 10, 2014 11:19am Jun 10, 2014 11:19am
Quoting PipsiKoala
{quote} {image}
No second point on your screen, so no setup.
  • #657
  • Jun 10, 2014 11:29am Jun 10, 2014 11:29am
Quoting Brdino
{quote} No second point on your screen, so no setup.
Based on what I understood, I've drawn the entry line on the second (and third, nearly) point; the first point was a bit higher, which is perfectly ok for a short trade based on rifid rules. Do correct me if I'm wrong. Thanks.

Quoting rifid from post #44: "...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." <-- this is for a long setup
  • #658
  • Jun 10, 2014 11:43am Jun 10, 2014 11:43am
Quoting PipsiKoala
{quote} Based on what I understood, I've drawn the entry line on the second (and third, nearly) point; the first point was a bit higher, which is perfectly ok for a short trade based on rifid rules. Do correct me if I'm wrong. Thanks. Quoting rifid from post #44: "...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." <-- this is for a long setup
For short it can be slightly lower, not higher.
  • #659
  • Jun 10, 2014 11:44am Jun 10, 2014 11:44am
Quoting PipsiKoala
{quote} Based on what I understood, I've drawn the entry line on the second (and third, nearly) point; the first point was a bit higher, which is perfectly ok for a short trade based on rifid rules. Do correct me if I'm wrong. Thanks. Quoting rifid from post #44: "...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." <-- this is for a long setup

Learning here as well....I don't see where your second point hits as well. Your first point hits the line just before 18:25. Where is your second point?
  • #660
  • Jun 10, 2014 11:53am Jun 10, 2014 11:53am
Quoting avgjoe
{quote} Learning here as well....I don't see where your second point hits as well. Your first point hits the line just before 18:25. Where is your second point?
The first point is just before the 16:25 mark, above the line.

Should have labeled the points on the chart

I'm confident I got this right. Let's wait for rifid to chime in when he wakes in the morning...
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