3 little sisters did it again — And the 3 little sisters did it again - just below the 50MA acting as a very nice resistance. It is one of my favourite high probability trade setups. Entry short and exit levels as indicated. Conclusion: Wait ...

5Min Intraday System

Reasons why one should follow the rules and not trade randomly — Just to answer Newtrader's question but also to show people what can happen if one doesn't follow the rules. Look at the last two days of trading in December 2007 where I did ...

5Min Intraday System

Interesting SHS formation — Just an interesting head and shoulder formation. Ii it was just below the 50MA with 21 coming out of non-trade zone to the downside; then it was a go. Be on the lookout for price formation like this when you see a ...

5Min Intraday System

Great build-up to my trade — Just to show you how to evaluate the development of a setup, taking a trade, set a profit target, taaking the 10pips of offer and then starting to evaluate the next setup (because there is already a clear support ...

5Min Intraday System

Negative trade because of big candles and no-man land — Right let's look at this @#*&% trade of mine. I think it is necessary to post negative trades so that we can learn from it. Also to show MJ how to read the market and consider all the ...

5Min Intraday System

Pleasure and forward testing — Hi Mj My pleasure. Please do forward testing as well -with a demo account or micro-lots on a live account. If you do back testing, go back as far as possible with the chart and use the F12 key on your keyboard ...

5Min Intraday System

That is a great summary of my feelings — Hi Mj Thanks for your post - it is a great summary of what my feelings has been in the past. I've bought several systems and electronic books and currently I am still looking at one I've bought. But I ...

5Min Intraday System

My view of your chart — Hi Mj This is how I would approach your chart - my comments on the chart. I don't really see any high probability setups (price patterns) on it. The first pullback showed support on the 21MA - the reason why you can ...

5Min Intraday System

Two different entries — Just look at the differences between the two entries of my two trades today. The first trade's entry was too far away from the 21MA - the entry was in non-man land and my trailing SL was triggered at 10pips loss. The ...

5Min Intraday System

No — Hi Mk No, the non-trade zone is still the same. For EUR and Cable it is between 0.1 and -0.1 and for EY between 0.15 and -0.15. The 0.5 and -0.5 lines are just parameters that I am using when the market is not in a trend (in other words ...

5Min Intraday System

Then a STEEP pullback — The setup I thought would give me a chance. But just look at the steep pullback towards the war zone. If I see such a pullback, I'll wait for signs of resistance before entering. No way that I'll enter using the ...

5Min Intraday System

Also very difficult — Just another example which looks easy because it has a recognisable upwards movement with 21MA staying above 0.1 line. But the 21MA on the chart doesn't act as support. So it is difficult to decide where to enter because ...

5Min Intraday System

If you see this — If you see a day like today, you must have a system to trade "range-bound markets". Not for this 5min system. Sit on hands!

5Min Intraday System

Cable follow up — Now look at the price movements once the 21MA is coming out of the non-trade zone. Anything can happen - no direction what so ever. Just choppiness between two pivot lines. For me it is no-no. Sit on hands. Too stressful and ...

5Min Intraday System

My comments — Hi Mj See my comments on a similiar chart (cable today) because I saw you tend to ignore the non-trade zone as well as war zone. This one worked out well but be carefull when trading not according to the rules. It may hurt you ...

5Min Intraday System

My comments — Hi Mj My comments on your chart: 1. See my comments on my chart (post #2900) for your first trade. I just don't like activities on the wrong side of the 21MA. My small resistance line was also broken. I like to see 21MA act as ...

5Min Intraday System

Hi AY See the times that I do have in your message.

5Min Intraday System

2 setups today - not taken — Patience and discipline are your friends - they kept me out of the two setups today I've followed. Be careful when you see the pullback making a steady move upwards or downwards as indicated on the chart. I think ...

5Min Intraday System

Pivot indicator as requested — Hi Jon The requested indicator attached. Just change all the inputs to "true". O hope it helps. Enjoy the trading.

5Min Intraday System

Please do - somebody might just benefit from it — Hi Richard Very interesting variation. I would certainly like to see some examples from you (new thread as suggested) because I did some back testing myself yesterday. It would be very ...

5Min Intraday System