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5 PIPS - Only Five

  • #681
  • Nov 12, 2014 3:41am Nov 12, 2014 3:41am
First page.
You market 4 entries (after the fact i guess).
Aren't there much more?
Candle crosses 5 EMA and closes beyond it convincingly, right?

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No valid?
  • #682
  • Nov 12, 2014 4:14am Nov 12, 2014 4:14am
Simple strategy: M15 chart price crosses M15 consinvingly and closes beyond, buy/sell next open. Stop loss beyond logical spot like sr or ma where is more likely to have a reversal.

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First 4 trades: 2 win 2 loss

Net gain: -50$
  • #683
  • Nov 12, 2014 4:17am Nov 12, 2014 4:17am
Fresh signal and new position open.

Easy 5 pips, right?

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  • #684
  • Nov 12, 2014 4:19am Nov 12, 2014 4:19am
EU +5, +10 TS, +30. I am done for the day. When trading a Discretionary Entry Method, you HAVE TO UNDERSTAND AND RECOGNIZE Price Action, with out that understanding you are Doomed. Forex Factory is not the place to learn How To Trade, it is a great place to explore, find the method that works best for you and enhance the knowledge you have gained, after you have learned the basics.

Babypips.com is one of the most respected teaching sites on the web, it is free, it is extremely well thought out and literally thousands of newbies have learnt the basics of trading there.
Do yourselves an enormous favour and go there and complete the course, if you don't you will become just another statistic.

I wish you all luck, although, Trading is a Skill and luck plays only a very small part.
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Cut your Losers short and let your Winners run.
  • #685
  • Nov 12, 2014 4:22am Nov 12, 2014 4:22am
Quoting jmatt35
Simple strategy: M15 chart price crosses M15 consinvingly and closes beyond, buy/sell next open. Stop loss beyond logical spot like sr or ma where is more likely to have a reversal. {image} {image} {image} {image} {image} First 4 trades: 2 win 2 loss Net gain: -50$
Exacly, this tactic is 50 and 50 %
  • #686
  • Nov 12, 2014 4:25am Nov 12, 2014 4:25am
Quoting jmatt35
Fresh signal and new position open. Easy 5 pips, right?
On my MT4 the previous bar to the one you opened on closed above the 5MA (close=1.13254, 5MA=1.13252) so that should have been your entry. Easy 5 pips right?

You're not following the rules so it's not worth checking your other examples.
  • #687
  • Nov 12, 2014 4:28am Nov 12, 2014 4:28am
Quoting dee50
EU +5, +10 TS, +30. I am done for the day. When trading a Discretionary Entry Method, you HAVE TO UNDERSTAND AND RECOGNIZE Price Action, with out that understanding you are Doomed. Forex Factory is not the place to learn How To Trade, it is a great place to explore, find the method that works best for you and enhance the knowledge you have gained, after you have learned the basics. Babypips.com is one of the most respected teaching sites on the web, it is free, it is extremely well thought out and literally thousands of newbies have learnt the basics...
Hello dee50, could you tell me what "TS" means on your chart?
"patience grasshopper"
  • #688
  • Nov 12, 2014 4:32am Nov 12, 2014 4:32am
Quoting dee50
EU +5, +10 TS, +30. I am done for the day. When trading a Discretionary Entry Method, you HAVE TO UNDERSTAND AND RECOGNIZE Price Action, with out that understanding you are Doomed. Forex Factory is not the place to learn How To Trade, it is a great place to explore, find the method that works best for you and enhance the knowledge you have gained, after you have learned the basics. Babypips.com is one of the most respected teaching sites on the web, it is free, it is extremely well thought out and literally thousands of newbies have learnt the basics...
Exactly.

And is what I'm trying to show using this misleading conception in live trading enviroment.

Even 5 pips ain't easy task. It may need YEARS of experience to be able to pull even 5 god damned pips out of the market.
  • #689
  • Nov 12, 2014 4:35am Nov 12, 2014 4:35am
Quoting rcsltd
{quote} On my MT4 the previous bar to the one you opened on closed above the 5MA (close=1.13254, 5MA=1.13252) so that should have been your entry. Easy 5 pips right? You're not following the rules so it's not worth checking your other examples.
Please show me on chart I don't understand what you are saying. I have a bear candle who closes below 5 MA and sell at the next.


An other fresh signal BULL candle crosse ma and closes above, buy on next candle open
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  • #690
  • Nov 12, 2014 4:37am Nov 12, 2014 4:37am
Quoting Soupdragon
{quote} Hello dee50, could you tell me what "TS" means on your chart?
TS = Trailing Stop
Cut your Losers short and let your Winners run.
  • #691
  • Nov 12, 2014 4:42am Nov 12, 2014 4:42am
win
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loss
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Total net gain: -90$
  • #692
  • Nov 12, 2014 4:48am Nov 12, 2014 4:48am
Are you taking every signal that comes along jmatt35?
"patience grasshopper"
  • #693
  • Nov 12, 2014 4:54am Nov 12, 2014 4:54am
Quoting Soupdragon
Are you taking every signal that comes along jmatt35?
I'm just trying to run the simple strategy that he presented in the first pages.

M15, 5 EMA 2 shift (2 shift is important remember!), candle crosses the 5 EMA convincingly and closes beyond, buy/sell next candle open. 5 pips and gtfo.

Only thing I add is some logical stop beyond sr or ma where is likely to have a reversal continuation. Let's say not losing more than 3 or 4 times what the target is (5 pips) otherwise not using stop is so silly that you can burn your entire account with 2 trades or even 1 if price dosen't come close to entry again.
  • #694
  • Nov 12, 2014 4:55am Nov 12, 2014 4:55am
Quoting TradeForexFx
Instructions: Copy "ApplyTemplate" into the script folder. (C:\.....\AppData\Roaming\MetaQuotes\Terminal\A207AC63C845D06C0757D3BCD2E122EA\MQL4\Scripts) Copy the two template (tpl) files into the template folder (C:\.....\AppData\Roaming\MetaQuotes\Terminal\DD421743C6A706AA131BA73C8BF9A60E\templates) Rest of the files are indicators. Copy them to the Indicator folder C:\.....\AppData\Roaming\MetaQuotes\Terminal\A207AC63C845D06C0757D3BCD2E122EA\MQL4\Indicators) Close and reopen the relevant MT4 instance. Open any chart, any time frame. Apply template...
Hi TradeForexFX,

I am interested in the Dashboard.

Can I install just the Dashboard on its own or do I have to install all other files as well? If it is possible to do which one do I need, is it Dashboard 5 Pips Only -r.mq4 or the other one?

Many thanks.
  • #695
  • Nov 12, 2014 4:57am Nov 12, 2014 4:57am
Target reach on eurusd. 5 pips. Bull candle crossed convincingly 5 EMA and closes above. Buy next candle open. Target 5 pips.
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  • #696
  • Nov 12, 2014 5:15am Nov 12, 2014 5:15am
Quoting JoeNY
eh..... Just be sure sure it's really the thruth and not for faik. {quote}

My friend I'm just trying to be as objective as I can. I don't need to be right. Just show the truth. We all know how much time and dollars we wasted on misleading stuff on forums, internet, guru trading courses, etc.
  • #697
  • Nov 12, 2014 5:19am Nov 12, 2014 5:19am
No fresh signals for this quarter M15 close. Need some BULL/BEAR candle cross 5 EMA convincingly and convincingly close beyond and then we can buy or sell on next candle open. We look for a change in sentiment, as the presenter told us.

And please let me know if I'm doing something wrong, maybe I didn't understand the simple strategy correctly.
  • #698
  • Nov 12, 2014 5:37am Nov 12, 2014 5:37am
Quoting jmatt35
No fresh signals for this quarter M15 close. Need some BULL/BEAR candle cross 5 EMA convincingly and convincingly close beyond and then we can buy or sell on next candle open. We look for a change in sentiment, as the presenter told us. And please let me know if I'm doing something wrong, maybe I didn't understand the simple strategy correctly.

No you defiantly don't understand this simple strategy
you do not have to take every single trade that crosses the 5ema
take your time and pick the right ones look at your charts look at the HA candles, look at the RSI
look at sentiment, look at the price action
  • #699
  • Nov 12, 2014 5:43am Nov 12, 2014 5:43am
If you saw this chart at the start of your trading day, what would it tell you, in advance. Would there be any Low Risk entries any where?
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Cut your Losers short and let your Winners run.
  • #700
  • Nov 12, 2014 5:44am Nov 12, 2014 5:44am
Quoting littlecraig
{quote} No you defiantly don't understand this simple strategy you do not have to take every single trade that crosses the 5ema take your time and pick the right ones look at your charts look at the HA candles, look at the RSI look at sentiment, look at the price action
No, this is the original strategy he stated. He said that 5 pips is easy task. Just need M15 chart and a 5 EMA 2 shift. Le'ts do this then.

Heiken ashi, RSI, pivot points, support and resistance, trendline, sentimen, price action came later, but guess what it ain't easy stuff you need years to learn price action an this is not the purpose of the thread as he presented.
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