Tiki Trader Trades

Quoting Tiki Trader

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My promise for today.... I will not jump into trades as soon as market opens.... have to wait until late tonight or even tomorrow... wait and see how things go first... Don't make stupid Tiki mistakes..........

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Quoting KissFan

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Let me follow up a brilliant observation by ......ME, with a dumb question. When do weekly candles form? Friday? What's weird to me is that my 4 hr candles form on the hrs of 10-2-6. My daily at 4pm.

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Quoting KissFan

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This is something that I have addressed buy placing my orders to where the trades come to me. I'm going thru your journal here to see if I can help you understand the way that I trade. Now bear in mind how long I've been doing this Tiki. I feel kinda weird, like I am doing some critique of your trading. You know that I am not qualified to do so. So with that out of the way, one thing that I can certainly tell you about the way I trade is that very few of my entries are at market. My entries are kind of like on a rating system (good, better, best). I'll risk as much as 3% on some trades but no more. I'll set an entry with about 1/2% on good. If price goes against me, then that's fine. It just gives me an opportunity to buy with another 1/2% a "better" position. Usually about 50-100 pips. Then again for "best" if it happens. I find it difficult to enter these trades like a pro, so this so far is working for me. Check out my journal and you will see these positions during the demo and now for live trading. Dude, I hope that this helps. You may already use this approach somewhat.

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Quoting Tiki Trader

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To be honest I don't understand your journal much.... especailly about how you decide where and what to trade....

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Quoting Tiki Trader

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OK... Raz is right... it is time to get back.... I have been trying some new things... it is time to put them here...

I have away been for a long time been looking at a new simple system for me to use... this has been since late last year actually.. but I like it so much and now I have made some effort to it...

It is something easy.... since I am the lazy guy you know... and all this analysing stuff hurts my brain a lot.... I need something where thinking is not involved....

What is it... well.. I know many others MUST be doing this or something similar... It is simply making trades towards the 5 ema at opportune times... and that is on daily TF....

Since late last Dec... I have made lots of trade using this idea... I have never lost a trade yet... maybe lucky I guess.... a week or two ago.. I began to really keep track and make some rules to the system... In this past week I have made 6 trades trading towards the 5 ema.... each one has won... 5 for 50 pips each... one other for 100 pips.... This means I have made 350 pips this past week... and on my 100K demo account... I made over $ 5000.... and in my demo world... that is enough for me to live on for a month....

Rules are this.... trade only towards the 5 ema.... at the right time... I will show... trade for 50 pips.... and trade all the way to the 5 ema when PA points the way too...

The other rule.... oh.. you will cringe.............. NO STOPS goes so against my grain.... I may put a catastauphic stop later... I have not decided yet..

I use one simple indicator.... it has different settings for different pairs... here are tow trades I made this week on GBP/JPY

System is called TT5

LONG towards th 5ema @ 199.33... out with 50 pips at 199.83 LONG owards the 5 ema @ 194.38 out with 100 pis at 195.38...

The idea is to wait until price is getting towards the outside of the tunnels to make a trade.... where have you heard that kind of thing before...????

I will make 24 more demo trades all to be listed here in my journal before I use real money ...

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Quoting Tmac

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here is something I have been using to scalp the market with 2 5EMa's

5 ema's

5 ema applied to the high - color Green
5 ema applied to the low - color Red

RSI - 9 period, with 70 and 30 levels

5 minute chart.

When a candle closes outside of this channel....say a bullish candle closes above the channel AND the RSI is above 70...

Enter a Sell trade, to trade the retracement back into the channel....

opposite for long positions using the RSI 30 and candle close

make sure you can cover the spread with the move back into the channel

TP is 3 to 7 pips

best used on pairs with a spread of 4 or less

attached is a pic from a demo account

I have tried it with 80/20 levels but prefer to use 70/30 but either will work.

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Quoting Tiki Trader

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Yes I know about systems like yours.... But I want something any foolish idiot like me can use and do..... yours is complicated..... sort of.... oh not really.... but you will see soon.... I'll be rich... rich rich rich... !!!

Just watch a few times.. you will see...

OH... and I am not allowed to use 5 minutes..... there are people here who will pin me up in a corner and shoot me.... and rightly so.......!!!

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Quoting Tiki Trader

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LONG GBP/USD @ 1.9772 target 5 ema @ 1.9868

Demo trade...

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