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Karmo's trading strategy trading GBP/JPY

  • #361
  • Mar 13, 2008 5:19am Mar 13, 2008 5:19am
Quoting Dmac
karmo when you say you are waiting for a candle to form above gann, Do you mean penetrate the line or an hourly close?
Hourly close
Trade what you see, not what you think.
  • #362
  • Mar 13, 2008 5:23am Mar 13, 2008 5:23am
Karmo thanks for the reply.
  • #363
  • Mar 13, 2008 7:09am Mar 13, 2008 7:09am
Quoting karmostaji
Hourly close
hla
what you mean the price will go up??????
  • #364
  • Mar 13, 2008 1:46pm Mar 13, 2008 1:46pm
hey karmo, whats up? whats your approach on the current situation? my strategy is to do nothing for the moment, stay on the sidelines and watch. My bias is downward anyway... UY broke 100 and im sure it will go down even further, since BOJ is head-less this month.
We leave no soldier behind.
  • #365
  • Mar 13, 2008 2:49pm Mar 13, 2008 2:49pm
Quoting gagiul
hey karmo, whats up? whats your approach on the current situation? my strategy is to do nothing for the moment, stay on the sidelines and watch. My bias is downward anyway... UY broke 100 and im sure it will go down even further, since BOJ is head-less this month.
FXCM have this great contrarian sentiment index. They were bang on on the eurusd.

They are saying that the sentiment index is +2. somthing ( high) meaning that the majority are long.

As this is a contrarian index the usdjpy should drop below 100.

It will be interesting to watch things play out

Right now the handle on the cup and handle 60 min GJ is broken and price is moving to the down side.

The bear flag on 15 min uj is broken and moving down .

I am short gj for now with 204 and 203.5 targets.

204 / 203.5 is a support zone.

The markets were bouyed up today by standard and poor mentioning only $260 billion of debt write down so far and that should be all ( we have see the bottom of the credit crisis.).

We have not even seen 1/2 of it yet as there are great cases out there for bond companies losing AAA rating and up to $600 billion in write downs.

There are great pips to be had in these crazy volatile times both sides of the market.

I for one shall be happy for the interest rate annoucement to ocme and go next week so that the market can just get on with a nice direction , weahter it be up or down.
Blogging daily now at www.volume.zone
  • #366
  • Mar 13, 2008 10:38pm Mar 13, 2008 10:38pm
1H QQE crossed up, we made a 50% retrace and then 1H QQE is crossing down now, we should see a new low today.

202.60
201.80

I have hedged my longs for now.
Trade what you see, not what you think.
  • #367
  • Mar 13, 2008 11:28pm Mar 13, 2008 11:28pm
Yep, i know. I'm not a big fan of indicators in general... and when you just take a certain fraction of momentum data... well, it just feels a bit "odd".

BTW, have you tried to analyse other indicators in the same way as momentum (stochs, rsi)? Or is momentum "special" in this respect?

And one more comment: to find for instance early daily momentum direction, you go to shorter tfs, right?

R

Quoting karmostaji
I've used the momentum successfully many times with other indicators, something might work for me but not someone else

Every trader must find what works for them and suits their personality.
  • #368
  • Mar 14, 2008 5:19am Mar 14, 2008 5:19am
Quoting karmostaji
1H QQE crossed up, we made a 50% retrace and then 1H QQE is crossing down now, we should see a new low today.

202.60
201.80

I have hedged my longs for now.
We got a candle below the 1H gann but the QQE has been going sideways instead of crossing downwards.

Important news in 10 mins, it should tell us the direction for the day.
Trade what you see, not what you think.
  • #369
  • Mar 14, 2008 5:21am Mar 14, 2008 5:21am
Quoting Rocroy
Yep, i know. I'm not a big fan of indicators in general... and when you just take a certain fraction of momentum data... well, it just feels a bit "odd".

BTW, have you tried to analyse other indicators in the same way as momentum (stochs, rsi)? Or is momentum "special" in this respect?

And one more comment: to find for instance early daily momentum direction, you go to shorter tfs, right?

R
No, I haven't tried it with any other indicator, but the momentum is special to me.

I always keep the daily momentum at the back of my head but trade mostly based on 4H charts, sometimes 1H for entry.
Trade what you see, not what you think.
  • #370
  • Mar 14, 2008 7:49am Mar 14, 2008 7:49am
Karmo, What's your feeling or position right now. Do you still think we will see a new low today?
  • #371
  • Mar 14, 2008 7:54am Mar 14, 2008 7:54am
Quoting Dmac
Karmo, What's your feeling or position right now. Do you still think we will see a new low today?
We saw a new low and that was caused by news, Fridays are always crazy.

The rest of the day will depend on the DOW, I'm done for today.
Trade what you see, not what you think.
  • #372
  • Mar 14, 2008 10:30am Mar 14, 2008 10:30am
where i can find the setting of the QQe of aus for i hr and 4hr.
  • #373
  • Mar 15, 2008 2:15am Mar 15, 2008 2:15am
Quoting karmostaji
Price is currently retracing from it's last move down, I believe the retracement might be over at 50% (208.47) or 61.8% (209.65) before it starts the next leg down towards the the monthly 50% (199.63), but I'm waiting for confirmation from the new weekly momentum, I'll confirm it once I get it.

http://img248.imageshack.us/img248/8443/gjjx9.gif
I posted this on March 9th, and my analysis was spot on!

But sometimes we human think we can be smarter than the market and then the market kicks our butts, well I got mine bruised a bit lol.

I'm here to learn and I learned several lessons this week, looking forward to next week
Trade what you see, not what you think.
  • #374
  • Edited 8:10pm Mar 15, 2008 10:14am | Edited 8:10pm
Karmo, this pair loves that 50 fib, as you point out day after day. Now do we bounce up and back to the 38 fib (211.77) or do we go down to test the 61 fib (187.49).

Maybe this pair is always searching for a 50 fib level, we just have to figure out which time frame she favors. I mean, now that she satisfied the monthly 50 fib, maybe she'll now go and satisfy the weekly 50 fib retrace to 255.47. I'm just thinking out loud.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #375
  • Mar 15, 2008 10:53am Mar 15, 2008 10:53am
Quoting jarroo
Karmo, this pair loves that 50 fib, as you point out day after day. Now do we bounce up and back to the 38 fib (211.77) or do we go down to test the 61 fib (187.49).

Maybe this pair is always searching for a 50 fib level, we just have to figure out which time frame she's favors. I mean, now that she satisfied the monthly 50 fib, maybe she'll now go and satisfy the weekly 50 fib retrace to 255.47. I'm just thinking out loud.
The 50% is a magnet for the beast, but it seems to have more room to go down, if you want to go long for long-term and aim for the weekly 50% fib, I would wait for a daily close above 50ema and daily QQE to cross above & candle to close above daily gann.
Trade what you see, not what you think.
  • #376
  • Mar 15, 2008 11:08am Mar 15, 2008 11:08am
Quoting karmostaji
The 50% is a magnet for the beast, but it seems to have more room to go down, if you want to go long for long-term and aim for the weekly 50% fib, I would wait for a daily close above 50ema and daily QQE to cross above & candle to close above daily gann.
I agree, Karmo. All indications you mentioned are showing that the Monthly 62 fib (187.49) is possible. I'm starting to use that gann/qqe for trend direction. I'm liking it.

I was just trying to get in to the mind of the beast, if she has one. LOL
Indicators show the past. Price Action "Indicates" the future.
  • #377
  • Mar 15, 2008 12:29pm Mar 15, 2008 12:29pm
Karo or jarroo could you tell me how to obtain the Gann and QQE file and then how do i get them on my chart. I'm not the most computer savvy guy and tend to need some help. I also really appreciate this thread and find it very helpful. Thanks for all the input guys.
Price does what price wants , I just need to be prepared.
  • #378
  • Mar 15, 2008 12:30pm Mar 15, 2008 12:30pm
Karmo-- sorry
Price does what price wants , I just need to be prepared.
  • #379
  • Mar 15, 2008 1:30pm Mar 15, 2008 1:30pm
hi to u i am greeting u
  • #380
  • Mar 15, 2008 2:01pm Mar 15, 2008 2:01pm
Quoting PJkiller
Karo or jarroo could you tell me how to obtain the Gann and QQE file and then how do i get them on my chart. I'm not the most computer savvy guy and tend to need some help. I also really appreciate this thread and find it very helpful. Thanks for all the input guys.
Here are Gann and QQE files. Go to your metatrader folder and open the expert folder. In there, you'll see the indicators folder, open that up and place the indictors in there. Then restart your metatrader.
Attached File(s)
File Type: ex4 ###Gann_HiLo_Activator_v2###.ex4   2 KB | 343 downloads
File Type: ex4 ###QQE_Alert_MTF_v5###.ex4   19 KB | 418 downloads
Indicators show the past. Price Action "Indicates" the future.
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