5 Minute Trade Set Up This one is the called “70/30 HA Set Up”
Heiken Ashi
Tro Indicator
RSI 70,50,30 add a 50 level it won’t do it automatically
Tro’s 3lzz
RULE #1 RSI 10(YELLOW) TOUCHES OR CROSSES 70 FOR SHORT 30 FOR LONG ( You can go 35 and 65) Probablilty can go down but still some good trades
RULE #2 50 MOMENTUM TOUCHES OR CROSSES 70 FOR SHORT 30 FOR LONG (If you have a bigger computer screen you will need to minimize your 5minute Plate Form to have of your screen at least. If you don’t it stretches it out and it might not hit the targets. You will see what I mean when you go from full screen to half screen.
RULE #3 BOTH HAVE TO TOUCH BEFORE NEXT STEP
RULE #4 WAIT FOR NUMBER 3
RULE #5 ENTER TRADE AFTER FIRST HEIKEN ASHI CLOSES OPPOSITE COLOR
Exit:1 30 pips
Exit:2 Sell half of position at 15 profit. Ride the rest trailing stop or sell at 30profit.
Exit:3 Set Up of Opposite Direction
Exit:4 RSI or Momentum hitting 70 if going long or 30 for going short
Note: Setting Up on your Plate For MP’s SHI_Channel_true can prove to be helpfull in noticing a A High Momentum Upside or Downside Move. If you fail to notice this Momenutm you will have a lot of lost pips. More on that Later.
Here is a chart example of how the 5m set up and the 1m Intersection trade told you when to enter.
This just happened.
JS
I added another chart to show multilple ways to EXIT this trade. Lets use 2 lots as an example.
1st 30 pips profit. $600 Profit
2nd Exit half at 15 profit Exit rest at 30 pips. $450 Profit
3rd Exit when RSI or Momentum hit 70 line. $1,300 Profit
4th Exit Half at 15 profit and Rest at 70 line. $800 Profit
There are many different ways to do money management. I like to take the one that profits me but is the worst situation with the best outcome.
So I like the 4th Exit Strategy. Here is why. Lets say the move is not that great but it at least gets me 15 pips. So it put on 2 lots and the target hits 15 pips Profit. I then Exit out of half the possition. If it reverses I just sell the other half at a stop loss were I entered the trade. If it goes on to hit 70 Line then I take more profit. So I get $150 or $800 Profit.
I had to set this up into 2 threads. There is alot to both the 1minute Intersection Set up Plate Form and the 5m 70/30 HA Set Up.
People want simple. This is simple but alot of indicators and two time frames put together. So I wanted to see if I got many people Interested in the 1 minute before I launched the second half of it.
Put both of these together and you will have a very high probablilty of making a great trade. It can set up 2-5 times a day on just one pair.
You should watch it for some time 1st, Demo 2nd, 3rd Live with small lots, 4th when your an expert you trade what you want.
One thing I just added which is thanks to mp6140 is his SHI_Channel_true.
This helped me to see when we were in a High Momentum Downside or Upside Move.
Once I notice this I take the number 2 set up on the 5minute instead of number 3 and only trade in the direction of the trending move.
I will not be able to really watch this or demo for at least a couple weeks because I am busy studying for my series 7, but if I get time every now and then I will be sure to look at it and give you some feedback on how I am doing and maybe some constructive criticism as well.
I’m watching live as I’m writing this were the 1m Intersection Set Up has shown me 4 false set ups. I have just saved alot of money not taking trades. 2 of them were really close. The Yellow RSI just bounced of the 50line and did not close below it. The other 2 Black Momentum broke through the 50 line to early and did not Intersect.
I’m showing you a picture of what the 1 Minute Intersection looks like when it’s correct.
I’ve Included a picture of the set up trying to intersect after the 5 Minute Indicators lined up to tell us to watch for a enter point.
JS
I just added another chart showing 5 False Set ups
JS
I just added another chart showing 6 False Set ups.
This one is half and half. You have been out of 5 possible losses and the 6th is better but choppy. You can still take the trade but chances go down. This is a personal call.
Hi JS
Are you trading the bars marked in red on your charts i.e. - the countertrend swings? If so, why not set the system up to trade the trend swings instead? I’m a real novice, so I might be missing something, but don’t they all say the trend is your friend?
You are missing something. Heiken Ashi is the red and white colors you are seeing. Yes it seems easy to say why not just trade the color when it changes or when it swings. I challenge you do that live. You will find that sometime during the day, week that you will have candles change from white to red multiple times. There won’t be a trend to follow and you won’t have Known that until it becomes history.
Every system would work if there was always a set trend but there isn’t and thats why I like this system. Sure it will keep you out of good trades, Sure there are other Set Ups that will allow you to take a trade that this Set up would tell you to stay out of and Yes you could have made money.
It’s not about catching ever good trade. It’s about how accurate is the trade you take and your money management of that trade when you take it that matters. How does the saying go " I’d rather miss a good trade then be in a bad one."
I would rather have an indicator tell me to stay out of a trade and be wrong then have an Indicator Set Up tell me over and over and over in a given sideways not trend market and wipe my account out. Trust me it will happen. There are always days they swing big and it will seem as if your Indicators are all crazy and not working.
I’m a believer in the more experts you have agree the better your chances are that there right. Just as the more Indicators that agree the better your chances are of being right. Now to get that to happen means you are missing out on some earlier pips if you would have taken the trade. So we make sure that we try to guess what the biggest trend direction change might be after our Indicators have set up and given us the green light.
So 2 ways I’ve found to do this. Wait tell 5m or 15m hit a Semafar number 3. Alot of the times they are both there already and you don’t have to wait for both. The second is the trading time. Depending were your at and the time of day you can get better movement.
Ever trader is betting against each other. So why not trade when there are alot more traders to bet against. You will be better off.
HI again.
Thanks for taking the time to give a considered and passionate answer.
My question arose I think from the way the screenshots are displayed on my computer, the white bars not being as obvious as the red, so I mistakenly thought you had highlighted the red as the range you had captured in your trades.
What plaform are you trading this on, since I can’t seem to get all the inicators overlayed on each other on the platform I use, and I would like to get it set up so I could see it in action, and hopefully gain a better understanding of all that you have talked about.
Thanks.
3 pips is there spread. You don’t have to use them you can just use a demo and down load the settings. I have 4 different broker platforms just to try different things.
They are posted all over babypips. We all share on this site. Look at the first post there is all the indicators and what to use to set up your platform. You might want to set up fxpro and download the demo account. Thats what I developed this Set Up on and it might be what makes the difference in the indicators coming together correctly.
Look at the picture and It shows you were the HA (Heiken Ashi) Indicator is.
You have to drag each indicator in the same section. How you do that is make sure when you drag the indicator that you pull it right over the top of each other. If you don’t it will open them up in there own window.
