Comments on: 17-50 Pips a Day Using Phillip Nell 5 Minute Trading System http://www.forextac.com/17-50-pips-a-day-using-phillip-nell-5-minute-trading-system.html Earn While You Learn Forex Sun, 03 Jan 2010 05:14:01 +0700 http://wordpress.org/?v=2.9.1 hourly 1 By: adrian friggieri http://www.forextac.com/17-50-pips-a-day-using-phillip-nell-5-minute-trading-system.html/comment-page-1/#comment-1210 adrian friggieri Thu, 03 Jul 2008 21:37:58 +0000 http://www.forextac.com/?p=316#comment-1210 yes the 20sma angle defines trend, but on the 5min setup the direction changes in just a second and hitting your SL as you think its retracting within your 'buy' zone and in reality the movement into the 'buy or sell' area would be just a direction change think its risky unless we work on a trend identifier that works better yes the 20sma angle defines trend, but on the 5min setup the direction changes in just a second and hitting your SL as you think its retracting within your ‘buy’ zone and in reality the movement into the ‘buy or sell’ area would be just a direction change

think its risky unless we work on a trend identifier that works better

]]> By: dany http://www.forextac.com/17-50-pips-a-day-using-phillip-nell-5-minute-trading-system.html/comment-page-1/#comment-1209 dany Thu, 03 Jul 2008 17:29:39 +0000 http://www.forextac.com/?p=316#comment-1209 isn't the 20 sma angle meant to define trend? however I think the system is much more a price action based then a trend based. isn’t the 20 sma angle meant to define trend? however I think the system is much more a price action based then a trend based.

]]> By: adrian friggieri http://www.forextac.com/17-50-pips-a-day-using-phillip-nell-5-minute-trading-system.html/comment-page-1/#comment-1205 adrian friggieri Thu, 03 Jul 2008 09:50:05 +0000 http://www.forextac.com/?p=316#comment-1205 I actualy used it some months ago but maybe was not used well as didnt work for me. A proper trend indicator should be used. The main problem I have encountered is that if the pair decides to change direction you wouldnt know and your position would go to a SL. Thus trend status needs to be known well before entering a trade. Also the SL if its too close might hurt! Only my views of course and am willing to retry it on demo again. I actualy used it some months ago but maybe was not used well as didnt work for me. A proper trend indicator should be used.

The main problem I have encountered is that if the pair decides to change direction you wouldnt know and your position would go to a SL. Thus trend status needs to be known well before entering a trade. Also the SL if its too close might hurt!

Only my views of course and am willing to retry it on demo again.

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