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Genuine 5m 4R/R system

  • #1,161
  • Jun 19, 2014 4:44am Jun 19, 2014 4:44am
Still having Skype problems here too - I can send IM's to Rifid but can't see the group messages. Think it might be a problem with my Windows 8.1 but i'll keep trying to fix it.
  • #1,162
  • Jun 19, 2014 5:16am Jun 19, 2014 5:16am
Quoting Gareth22
Can I just ask, is this thread no longer the place to show potential setups and talk about the method? Is it purely in Skype now?
thread is still open gareth i am advised of all messages, when you are familiar with the method you can ask to join the skype group ,it has 50+ members.
patience is bitter, but its fruit is sweet
  • #1,163
  • Jun 19, 2014 5:40am Jun 19, 2014 5:40am
Like the idea... been reading the post... first time posting now.

Thanks
  • #1,164
  • Jun 19, 2014 7:07am Jun 19, 2014 7:07am
Sounds interesting indeed but I still dont get why dont you have an EA ?
Is it a manual process ? if so why dont you get an EA that alerts you of possible setup and then you decide what to do. you would be able to monitor much more pairs, and would rely on anyone else - you could still have a community sharing the good setup.

Thanks
  • #1,165
  • Jun 19, 2014 1:02pm Jun 19, 2014 1:02pm
Is this a good example for a short?
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 60 KB
  • #1,166
  • Jun 19, 2014 1:07pm Jun 19, 2014 1:07pm
How about this one for a long ?
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.png Size: 62 KB
  • #1,167
  • Jun 19, 2014 2:33pm Jun 19, 2014 2:33pm
Quoting Amanfx
Is this a good example for a short? {image}
I am new to this thread but the rules say that 1) the points have to be on same trend and for a setup to be valid.
2)For a short setup, point 2 must be the same value ( or slightly less than) point 1.
Similar but reversed comments for next example.
Regards
Niels
  • #1,168
  • Edited 5:30pm Jun 19, 2014 5:15pm | Edited 5:30pm
Quoting mb206
Sounds interesting indeed but I still dont get why dont you have an EA ? Is it a manual process ? if so why dont you get an EA that alerts you of possible setup and then you decide what to do. you would be able to monitor much more pairs, and would rely on anyone else - you could still have a community sharing the good setup. Thanks
I see what you are saying Mb206, and while it is a attractive to have an EA, it really would only be a rough alerts system at best (for this method..) We want to take the clean setups only and this is requires a level of discretion, this setup is not mechanical, there are a few nuances involved. So all an EA would ever be, is a small heads up alerts system, at best, in my opinion. An EA may potentially promote certain traders to take less than average entries unless they understand the setup properly anyway (you never know.)

Even with an EA, you would still have to review the higher times frames and the information to the left of your chart, that is what is important, so we can see if there is a proper setup there or if we are in an area we seriously do not want to be in.. and bare in mind, once you understand a setup like this, you can glance at a chart and figure out if something is there or not right away anyway, which you could then calculate better than any EA ever could.

-RPM
  • #1,169
  • Jun 19, 2014 8:48pm Jun 19, 2014 8:48pm
The second point is less then a pip lower... does this qualify ??

Also how much higher should the entry be from the S&R line... Like maybe one pip ??
Attached Image (click to enlarge)
Click to Enlarge Name: AU.png Size: 48 KB
  • #1,170
  • Jun 19, 2014 9:39pm Jun 19, 2014 9:39pm
Amanfx

"Is this a good example for a short? How about this one for a long ? "

No and no. Last chart looks good. Refer to rifid's posts 1052 and 1054.
Good Trading
  • #1,171
  • Jun 19, 2014 10:41pm Jun 19, 2014 10:41pm
EJ looking good so far.
  • #1,172
  • Jun 20, 2014 2:20am Jun 20, 2014 2:20am
GJ +20
  • #1,173
  • Jun 20, 2014 5:11am Jun 20, 2014 5:11am
EU triggered a short 15mins ago; I wasn't watching but catching up with the thread and looking into joining the Skype group. Anyone in this trade? +7pips so far...
  • #1,174
  • Jun 20, 2014 5:29am Jun 20, 2014 5:29am
UJ looks like setting up, presently making pt2. Let's see if it gives us a small retrace afterwards and bam!
  • #1,175
  • Jun 20, 2014 5:55am Jun 20, 2014 5:55am
Aussie has made a (lower) pt2. Looks like it'll trigger very soon; but gotta drop about 2 pips lower to get past recent swing low. After that, blue skies ahead
  • #1,176
  • Jun 20, 2014 5:58am Jun 20, 2014 5:58am
Quoting 0cc
Still having Skype problems here too - I can send IM's to Rifid but can't see the group messages. Think it might be a problem with my Windows 8.1 but i'll keep trying to fix it.
I don't see the group as well, only rifid's contact (as tradersgroup3). Just read that group chats aren't supported any more since Skype 4.0, so not sure if this is the problem we are seeing???
  • #1,177
  • Jun 20, 2014 6:01am Jun 20, 2014 6:01am
Quoting PipsiKoala
EU triggered a short 15mins ago; I wasn't watching but catching up with the thread and looking into joining the Skype group. Anyone in this trade? +7pips so far...
EU went all the way back to test entry, then reversed down! Now +12pips
  • #1,178
  • Jun 20, 2014 7:28am Jun 20, 2014 7:28am
Quoting PipsiKoala
{quote} EU went all the way back to test entry, then reversed down! Now +12pips
Home run for EU

I reckon this would be considered a discretionary trade (under this method), as entry came very late after pt 2 formed. But technically, it's a with-trend trade with low risk imho. Your thoughts, rifid and other traders?
Attached Image (click to enlarge)
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  • #1,179
  • Jun 20, 2014 7:53am Jun 20, 2014 7:53am
Quoting PipsiKoala
{quote} Home run for EU I reckon this would be considered a discretionary trade (under this method), as entry came very late after pt 2 formed. But technically, it's a with-trend trade with low risk imho. Your thoughts, rifid and other traders? {image}
Your EUR/USD looks like a perfect set-up to me. Unfortunately, I missed it. I am in USD/JPY, but I was probably a bit hasty as it is not the best of set-ups.
  • #1,180
  • Jun 20, 2014 8:11am Jun 20, 2014 8:11am
Quoting bobbles
{quote} Your EUR/USD looks like a perfect set-up to me. Unfortunately, I missed it. I am in USD/JPY, but I was probably a bit hasty as it is not the best of set-ups.
Hi bobbles

I took the UJ trade as well but got kicked out at S/L It went just a pip lower and now has gone north. Oh well...
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