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Part Time Wealth Building Trading System - Weekly Scalping

  • #241
  • Edited 4:10pm Jan 14, 2007 3:19pm | Edited 4:10pm
.............................../ \ ....
............................../....\...................|.............................|.../..
_1.9638_buy______/_____\___________|.............................|../.... _........................./..........\................|.............................|./.....
.................1.9608|...30_buy\.sl_____...|............................|/.......
_fri.close_1.9588__/_new sell_|________|__1.9638_buy______/|___..
...........................................\...........|.......30.sl.1.9618__/_|___..
............................................ \.........|50 pips................|..|1.9608.sl
1.9538_first sell_set__................|.......|______1.9588____/_>|__sell_
.............................................. \.......|....._____......__/......|
................................................ \ __|..../........\..../..........|.set
......................................................|\ /........... \/............|.for
......................................................|..............................|.reverse
......................................................|..............................|
Buy hit .... then goes south ............. ..... sell then goes North .....

(note: The measurements are off ... ok, but I tried) LOL ..


I hope this sketch stays in tact, when I post it now, being what I believe is the tkimble Method example for the Weekly Method.

I will let tkimble confirm or deny that this PC hand scetch is correct or not.
I hope this works! Then again maybe someone else can do a better job with posting an example of tkimble's Weekly Method? I tried! I just thought something like this would help the Newbies trying to learn this Method. IMO


tkimble is this above example close, correct, or needs help???
MT4 has last fridays close at .... 19588 .......

Thanks,

ut2DaMax
  • #242
  • Jan 14, 2007 6:12pm Jan 14, 2007 6:12pm
Martin Luther King day tomorrow in the US as equity and fixed income markets are closed. So probably don't expect high volatility during US open today.
  • #243
  • Jan 14, 2007 9:33pm Jan 14, 2007 9:33pm
Quoting ut2DaMax
Then again maybe someone else can do a better job with posting an example of tkimble's Weekly Method? I tried! I just thought something like this would help the Newbies trying to learn this Method. IMO
Max, a lot of work you put in your sketch!

Speaking of help for newbies, attached is Excel spreadsheet. Enter weekly close without decimal point and you get calculated entries.

For those who don't have MS Office, you can download from OpenOffice.org free office and then you can use this spreadsheet.

Mario
Attached File(s)
File Type: zip Weekly Tkimble.zip   2 KB | 1,173 downloads
  • #244
  • Jan 14, 2007 10:30pm Jan 14, 2007 10:30pm
Just downloaded the Excel program ......
that will certainly help! thanks so much! IMO
  • #245
  • Jan 15, 2007 3:16am Jan 15, 2007 3:16am
Buy was triggered pretty early today. Let's see how this goes this week.
  • #246
  • Jan 15, 2007 4:21am Jan 15, 2007 4:21am
Hey,

Seems a little to easy but I am running it on a demo. I did some back testing and it worked ok but we shall see.

For purity, I will not change anything. I will follow to a T.

Thanks for your input-
“Control, control, you must learn control!†- Yoda
  • #247
  • Jan 15, 2007 7:29am Jan 15, 2007 7:29am
Just tried out the excel spreadsheet from a couple of post ago. I cannot get it to work. When I input for example 12657 in the weekly block the other blocks for buy/sell/buy stop etc only go to three places (1.26). How do I get the whole thing to show?
  • #248
  • Jan 15, 2007 8:02am Jan 15, 2007 8:02am
I tried to enter a trade in a demo. last night with Interbank fx and it wouldn't execute? Wondering if you can trade in a demo pre-hours?

I entered the GBY/USD this morning, but it had moved 60 pips already and appears to be moving SW now.
  • #249
  • Jan 15, 2007 8:58am Jan 15, 2007 8:58am
Quoting alamanjani
Max, a lot of work you put in your sketch!

Speaking of help for newbies, attached is Excel spreadsheet. Enter weekly close without decimal point and you get calculated entries.

For those who don't have MS Office, you can download from OpenOffice.org free office and then you can use this spreadsheet.

Mario
Hi Alamanjani!

Thanks for your Excel Sheet.
I hope that it is no problem for you if I calculated with spread. I took the spread I have by my broker. gbp/usd 3 pips spread and eur/jpy 4 pips spread.
Please check it, if it is correct.

Thanks again for your work.

Regards Erkro
  • #250
  • Jan 15, 2007 9:02am Jan 15, 2007 9:02am
Quoting erkro
Hi Alamanjani!

Thanks for your Excel Sheet.
I hope that it is no problem for you if I calculated with spread. I took the spread I have by my broker. gbp/usd 3 pips spread and eur/jpy 4 pips spread.
Please check it, if it is correct.

Thanks again for your work.

Regards Erkro
Could not upload, try it again.

Erkro
Attached File(s)
File Type: zip Weekly Tkimble.zip   3 KB | 648 downloads
  • #251
  • Jan 15, 2007 9:23am Jan 15, 2007 9:23am
  •  Trader#0000
  • | Status: Unregistered Trader
I will also demo this for a few weeks. Looks very promising.
it should be pretty easy to create an EA for this also.

Thanks TK!
  • #252
  • Jan 15, 2007 9:23am Jan 15, 2007 9:23am
Quoting erkro
Could not upload, try it again.

Erkro
Sorry, had to change the formula in eur/jpy. now it should work.

Erkro
Attached File(s)
File Type: zip Weekly Tkimble.zip   3 KB | 782 downloads
  • #253
  • Edited 10:03am Jan 15, 2007 9:35am | Edited 10:03am
Now that the Weekly Scalping system has been thoroughly disected, it is time to introduce my daily Scalping System which will complete my trio of trending, weekly and daily scalping systems. Will do so under a separate thread. Basically, the Daily Scalping System is the same as the Weekly Scalping system but with tighter entry ranges.

My only caution to everyone is to maintain the simplicity. Shy away from complications.

Will post shortly.

Hope everybody is having fun.

Happy Trading...

Tkimble
  • #254
  • Edited 11:00pm Jan 15, 2007 9:57am | Edited 11:00pm
Thank you .... tkimble! ..... Can't wait! IMO

THANKS,

ut2DaMax
  • #255
  • Jan 15, 2007 10:09am Jan 15, 2007 10:09am
Quoting tkimble
Now that the Weekly Scalping system has been thoroughly disected, it is time to introduce my daily Scalping System which will complete my trio of trending, weekly and daily scalping systems. Will do so under a separate thread. Basically, the Daily Scalping System is the same as the Weekly Scalping system but with tighter entry ranges.

My only caution to everyone is to maintain the simplicity. Shy away from complications.

Will post shortly.

Hope everybody is having fun.

Happy Trading...

Tkimble
oh yes! I will be waiting too! keep up the good work!
  • #256
  • Jan 15, 2007 10:16am Jan 15, 2007 10:16am
WOW...looking forward to the next thread!!

Thanks....Tkimble.
  • #257
  • Jan 15, 2007 10:29am Jan 15, 2007 10:29am
thanks again for all your dedication. we will be waiting patiently.

Quoting tkimble
Now that the Weekly Scalping system has been thoroughly disected, it is time to introduce my daily Scalping System which will complete my trio of trending, weekly and daily scalping systems. Will do so under a separate thread. Basically, the Daily Scalping System is the same as the Weekly Scalping system but with tighter entry ranges.

My only caution to everyone is to maintain the simplicity. Shy away from complications.

Will post shortly.

Hope everybody is having fun.

Happy Trading...

Tkimble
  • #258
  • Jan 15, 2007 11:14am Jan 15, 2007 11:14am
thanks again for all your big big help.

we can not wait to read about your daily system.

Cheers
Mobsie
  • #259
  • Edited Jan 27, 2007 11:41am Jan 15, 2007 11:24am | Edited Jan 27, 2007 11:41am
Hi all

I am trading forex for just more than 2 years and tested manyy systems before. I never read forums because of all the crituc given on some threads and just started reading this one when i wanted to see news events for next weak.

I do like this system, i am currently long on cable with this system and that is live, so i do like this system a lot.Reason why i am trading it live, is because i have been checking almost the same setup but with weakly pivots and the TD Demark projected high/low projections. Problem was only that the stops was to far.

This is how i manage my trades according to this system:

I place the same ordres as the original system but only with 2 lots, stop is still 30 points but 1 lot would be taken out at 50 points. When i reach 100points i will move the stop to BE + 10 and leave it intact till friday.

Reason for the 1 lot removal is because if the trade then reverse and hit the stop of -30, i am still left with +20.

This is just my 2cents. Please give some comments but leave the critic offthe keyboard.

Keep well and let the pips role in this weak.

Jannie
  • #260
  • Jan 15, 2007 11:35am Jan 15, 2007 11:35am
This Method is just to simple for most but I like it. No I can't wait for the the Daily .... grabbing & Riding the Trend! I think tkimble could take any old system and make it work better. IMO

Thanks!

ut2DaMax
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