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Tiki Trader Trades

  • #801
  • Apr 24, 2008 6:14am Apr 24, 2008 6:14am
There is possible divergence developing here....
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  • #802
  • Apr 24, 2008 7:09am Apr 24, 2008 7:09am
Long EUR/USD for 50 pips @ 1.5759
Short USD/CHF for 50 pips @ 1.0249
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  • #803
  • Apr 24, 2008 8:04am Apr 24, 2008 8:04am
Price even lower on EUR now and higher on CHF... two more TT5 trades on these pairs... 50 more pips each target...

LONG EUR @1.5721
SHORT CHF @ 1.0300
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  • #804
  • Apr 24, 2008 8:16am Apr 24, 2008 8:16am
Hey Tiki

I'm trying to understand your method. I just noticed you took 2 longs on euro even though price has continued to drop. Are you placing longs based on the levels you have away from the 5 EMA?

So... when price reaches the 1st level under the 5 EMA, you take a long and target 50 pips, if it continues and hits 2nd level another long targeting another 50 pips and again for the 3rd. Do I have that right?
  • #805
  • Apr 24, 2008 8:32am Apr 24, 2008 8:32am
Tiki,

Could you please tell me your method? I would like to start forex trade, beside you...
  • #806
  • Apr 24, 2008 12:27pm Apr 24, 2008 12:27pm
Thought I would post this because your method definitely deserves merit. I placed a 5 EMA on my euro daily chart and placed levels 144 and 233 on either side (although personally I don't even think it's necessary to have them there), similar to the Vegas Wealth Builder but different in how it's traded.

If you trade this with the major trend, you could clean up big time. I've indicated certain candles where the body AND wick isn't touching the 5 EMA (this is where I would go long and trade towards the 5 EMA).
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  • #807
  • Apr 24, 2008 12:37pm Apr 24, 2008 12:37pm
What are the 144 and 233 levels and how do you get them on your chart
many thanks
Tom
  • #808
  • Apr 24, 2008 12:43pm Apr 24, 2008 12:43pm
Quoting booktimes
What are the 144 and 233 levels and how do you get them on your chart
many thanks
Tom
They're fibonacci numbers.

55+89 = 144
89+144 = 233
144+233 = 377 (this would be your next fibonacci number)

When you place a moving average onto your charts, next to the "parameters" tab, there is a "levels" tab. Click on that and add the levels you want. ie. 144 and -144, 233 and -233.

I don't think it's really necessary to add them though, you just need to know what the major trend is and have the 5 EMA by it's own. The fib levels do nothing. No point really putting it there if it serves no purpose.
  • #809
  • Apr 24, 2008 12:47pm Apr 24, 2008 12:47pm
I see that tiki seems to let the price reach a second line before he decides it is far enough away from the 5ema, also when is the best time to enter the trade? is it at close of candle in my case 12.00 midnite in uk?
Tom
  • #810
  • Apr 24, 2008 12:49pm Apr 24, 2008 12:49pm
Hi Zoopy
And what are those coloured lines on his chart?
Tom
  • #811
  • Apr 24, 2008 12:56pm Apr 24, 2008 12:56pm
Quoting booktimes
I see that tiki seems to let the price reach a second line before he decides it is far enough away from the 5ema, also when is the best time to enter the trade? is it at close of candle in my case 12.00 midnite in uk?
Tom
To be honest I have no idea how Tiki trades it and it's best you ask him instead. I was curious earlier about how he traded it because I noticed he took two long positions on euro so I thought maybe it had to do with his levels.

If I were to trade it based on the charts I showed, yes you'd enter on the close. Keep in mind I haven't tested this out at all but what I'm seeing is interesting. I'd probably trail price as well maybe 100 pips or something I dunno just to cover myself.
  • #812
  • Apr 24, 2008 12:57pm Apr 24, 2008 12:57pm
Quoting booktimes
Hi Zoopy
And what are those coloured lines on his chart?
Tom
Have no idea, I was trying to figure them out earlier. He's the one that came up with this concept so he's probably the one to ask plus I don't want to hijack his journal
  • #813
  • Apr 24, 2008 1:53pm Apr 24, 2008 1:53pm
is the 5ema applied to close?
Tom
  • #814
  • Apr 24, 2008 1:58pm Apr 24, 2008 1:58pm
Quoting booktimes
is the 5ema applied to close?
Tom
Yes.
  • #815
  • Apr 24, 2008 3:19pm Apr 24, 2008 3:19pm
The first two trades this morning I took because I was in a hurry to get out the door to work... we will see what happens with those trades... I am not so happy about those.. this is what happens when one is in a hurry... and not thinking well... but overall.... these is still a good chance for them...

The second two I took becuase I came back a few monutes later and found price a million miles even further away.... at that point.... my principle thought is that the daily bar is now at or exceeding its average daily range... and that will strongly suggest to me that price will begin coming back to the 5 ema soon...

Now it is later in the afternoon... and price is turning back towards the 5.... but things were obviously very dicy today in Britain.... and news says those strike probelms may go on.... which makes me wonder if EUR price will continue down....

This is why TT5 trades are demo still... lets see where I can blow it... but for now these trades in my comfort zone and I would still feel fine about them if they were live trades....

It is all similar to vagas.... those fib lines are fine too.... I only use my indicator to remind how far price is away from the 5 ema... after that I might use PA to decide when to trade..... or I might just ask my cat....
  • #816
  • Apr 24, 2008 3:26pm Apr 24, 2008 3:26pm
I have never been good at trading with the trend... and have always had trouble even getting on a trend.... so finally I decided I would just trade towards the 5 ema when price gets far away from it.... that's it... I pay no attention to the trend.... the trend was never much of a friend to me... if anything, over these years.. the trend seems to be my mortal enemy... I seem to be one of those who always need to buck the trend.. so I had to find a way to do that and still get my pips..........



Quoting zoopy
Thought I would post this because your method definitely deserves merit. I placed a 5 EMA on my euro daily chart and placed levels 144 and 233 on either side (although personally I don't even think it's necessary to have them there), similar to the Vegas Wealth Builder but different in how it's traded.

If you trade this with the major trend, you could clean up big time. I've indicated certain candles where the body AND wick isn't touching the 5 EMA (this is where I would go long and trade towards the 5 EMA).
  • #817
  • Apr 24, 2008 3:41pm Apr 24, 2008 3:41pm
Quoting Tiki Trader
I have never been good at trading with the trend... and have always had trouble even getting on a trend.... so finally I decided I would just trade towards the 5 ema when price gets far away from it.... that's it... I pay no attention to the trend.... the trend was never much of a friend to me... if anything, over these years.. the trend seems to be my mortal enemy... I seem to be one of those who always need to buck the trend.. so I had to find a way to do that and still get my pips..........
I know you don't do the 4 hour timeframe but even this is interesting. Some of these aren't even PA setups either. It seems it works best when there is a crazy extreme move like we had today although it'll be interesting to see if there's a pullback on euro. I took an experimental trade both on euro and aussie for fun and both are in profit. What's kinda cool too is you can get away with really tight stops.

This method probably will do well on the euraud because that pair is very erratic and doesn't have much of a trend either. hmmm
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  • #818
  • Apr 24, 2008 3:42pm Apr 24, 2008 3:42pm
Still seems like a good one Tiki
I am testing using the fibo channels given to me by Zoopy, maybe waiting till any part of the day not just at close and if price goes away from 5 to say between 1st and 2nd fib, I will take trade then back to 5, will test for a bit and let people know
respect
Tom(UK)
  • #819
  • Apr 25, 2008 9:50pm Apr 25, 2008 9:50pm
Oh my... have you all seen the very nice weekly Pin Bar on AUD/USD....???

And the very COOL divergence that goes along with it... !!!!!!

I don't know about these weekly trades like this... do I have the patience for it to work out...??? It is very tempting this time... looks very nice to go all the way down to the 62 ema...
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  • #820
  • Edited 9:52pm Apr 27, 2008 6:57pm | Edited 9:52pm
I really want EUR to go back up... so I have decided to draw a convenient trend line to keep price from going down any lower....
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