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Tiki Trader Trades

  • #1,021
  • Jul 8, 2008 4:30am Jul 8, 2008 4:30am
In fact it di go a bit futher out.... BUT the daily candle was already longer then average. and price was past the first tunnel line.... there is not way to tell if price is goig further out or not.... it goes where is goes.... but price on a long daily candle like that is boud to come back some...

I took the trade when I did because I had to go to work...!!! I was already confident price would come back my way even if it went against me some first....

Quoting Gnat
Super Tiki!!

How do you determine when to get in? The move might have carried further out as it did with GJ e.g.! Still trying to absorb this TT5 here.

Ciao!
Matt
  • #1,022
  • Jul 8, 2008 4:36am Jul 8, 2008 4:36am
There was no strong stomach needed here...! Daily candle was already very long... yes it can go further.... but not so much....

No... there is nothing more sofisticated I am using.... I am sticking to simple... just the indicator, a bit of common sense.... some PA sometimes... like I've said... I am just not going to spend my time thinking so much about all this.... it has to be easy.... that's it... Price is in the zone... take the trade.. walk away..

Yes... now look at price... it continued on and hit the 5 ema.... yes I could have gotten more pips... but I got my 50..... maybe I don't have as many pips as other people.... but my pips are adding up... and my account gets bigger nicely.... and I got to take a nap with no worries......

Quoting ianf0ster
Hi Matt,
I don't know if Tiki has something more sophisticated now, but he once said that once it hits one of his lines he just asks his cat.
Personally, I base all my TT5 trades off the 1 hr chart (so its really a TT120). What I usually do is to look for it to test or break a line, then look for some sign of a reversal. In this case it seemed like it was reversing off the Retracement Fib 38.2 (Bo style 61.8%) line. But for me it is totally discretionary (except for my SL) because I don't have a trading cat!

Ian

P.S. You are right that it could have gone (much) further out. This is why you need a strong stomach and a long SL to trade TT5 (in this case my Reward:Risk was 0.27, but I usually use a TP of 100 so the R:R is better than 0.5).
  • #1,023
  • Jul 8, 2008 4:40am Jul 8, 2008 4:40am
My cat seems quite uninterested in forex..... and tends to ignore me when I ask her....
  • #1,024
  • Jul 8, 2008 4:49am Jul 8, 2008 4:49am
Quoting Tiki Trader
Yes... now look at price... it continued on and hit the 5 ema.... yes I could have gotten more pips... but I got my 50..... maybe I don't have as many pips as other people.... but my pips are adding up... and my account gets bigger nicely.... and I got to take a nap with no worries......
Also what others are missing is that you have compounding working faster since you are taking smaller amounts. You're letting the compounding do all the work whereas others feel the need to get 300+ pips per trade.

For the other traders, think about it carefully. Would you rather...
a) Sweat blood trying to get those pips OR
b) Take the easy way out and have compounding do the work for you instead?
  • #1,025
  • Jul 8, 2008 5:18am Jul 8, 2008 5:18am
There are those who seem able to get those 300 pips trades... I was never one of them.... I admit it.... so over time I have had to come up with something that works for me.... I NEVER cry about not getting more pips when I see price went further in my direction.... those 50s are adding up quick. Most traders are winning some and losing some..... I think not many can claim the 17 trades with only 1 loss.... I learned the hard way over 4 years.... not to be greedy.... I got tired of losing and losing... I am probably not a very good trader.... not like those who can collect massive amounts of pips consistantly.... instead... it's like saving quarters in a jar.... it's not many each time... but suddenly you notice the jar is geting pretty full...

And yes.... the compounding will go well in my favor... I am just getting going on my system.... but as my account grows.. so does my trade size.... and each the time, the 50 pips will be a larger amount money wise.....

Quoting zoopy
Also what others are missing is that you have compounding working faster since you are taking smaller amounts. You're letting the compounding do all the work whereas others feel the need to get 300+ pips per trade.

For the other traders, think about it carefully. Would you rather...
a) Sweat blood trying to get those pips OR
b) Take the easy way out and have compounding do the work for you instead?
  • #1,026
  • Jul 8, 2008 5:23am Jul 8, 2008 5:23am
Quoting Tiki Trader
And yes.... the compounding will go well in my favor... I am just getting going on my system.... but as my account grows.. so does my trade size.... and each the time, the 50 pips will be a larger amount money wise.....
Yes but the way you're doing it is also a smart way lol. It's far easier to get 50 pips than 300. A while back I was doing some testing and noticed whenever I take smaller amounts my account seems to grow far quicker.
  • #1,027
  • Jul 8, 2008 5:43am Jul 8, 2008 5:43am
That's my thought exactly.... it not easy to get those 300 pip trades.. and they are a lot more risky.... 50 pips come easy on retrace and trades towards the 5 ema.... those 300 pipers.... you really have to know where things are going.... and I don't... I'd really have to analyse things to do that... and I seem not so good to do that... besides, all the chart watching and studying interferes in naps.........

Quoting zoopy
Yes but the way you're doing it is also a smart way lol. It's far easier to get 50 pips than 300. A while back I was doing some testing and noticed whenever I take smaller amounts my account seems to grow far quicker.
  • #1,028
  • Jul 8, 2008 6:08am Jul 8, 2008 6:08am
Quoting Tiki Trader
That's my thought exactly.... it not easy to get those 300 pip trades.. and they are a lot more risky.... 50 pips come easy on retrace and trades towards the 5 ema.... those 300 pipers.... you really have to know where things are going.... and I don't... I'd really have to analyse things to do that... and I seem not so good to do that... besides, all the chart watching and studying interferes in naps.........

But the thing is that you must be good or your system must beto be able to be getting those 50 pips trade. For instance, your girst trade is +50 pips. No sweat. Then second is -300 pips as in your case because you have no stop loss. Then you have to start thinking of covering your loss in the next trade and so on......
  • #1,029
  • Jul 8, 2008 10:37am Jul 8, 2008 10:37am
I don't plan on that kind of thing happening.... remember.... I am taking trades when price is far away from the 5 ema... even it price still goes further away from the 5.... it will come back....

At this point, I must be doing something half way right.... I had 28 demo trades with 4 losses... now I have 17 live trades and only one loss... ( which I thank Zoopy for anyway... ) so my record is only getting better... I think it could not be just luck at this point....

Yes there will be trades I lose.... but I think we see where it will really go in the long term... the trade record speaks for itself... OK.. maybe I am a little bit good.... on my own system at least... !!

Quoting sarama001
But the thing is that you must be good or your system must beto be able to be getting those 50 pips trade. For instance, your girst trade is +50 pips. No sweat. Then second is -300 pips as in your case because you have no stop loss. Then you have to start thinking of covering your loss in the next trade and so on......
  • #1,030
  • Jul 8, 2008 10:47am Jul 8, 2008 10:47am
Quoting Tiki Trader
I don't plan on that kind of thing happening.... remember.... I am taking trades when price is far away from the 5 ema... even it price still goes further away from the 5.... it will come back....

At this point, I must be doing something half way right.... I had 28 demo trades with 4 losses... now I have 17 live trades and only one loss... ( which I thank Zoopy for anyway... ) so my record is only getting better... I think it could not be just luck at this point....
That's just wrong man!
  • #1,031
  • Jul 8, 2008 3:27pm Jul 8, 2008 3:27pm
I'm sure zoopy can take it.... he seems rolling in the pips these days too... !!!

Quoting KissFan
That's just wrong man!
  • #1,032
  • Jul 8, 2008 4:44pm Jul 8, 2008 4:44pm
Quoting Tiki Trader
I'm sure zoopy can take it.... he seems rolling in the pips these days too... !!!
  • #1,033
  • Jul 8, 2008 5:28pm Jul 8, 2008 5:28pm
Quoting Tiki Trader
I don't plan on that kind of thing happening.... remember.... I am taking trades when price is far away from the 5 ema... even it price still goes further away from the 5.... it will come back....

At this point, I must be doing something half way right.... I had 28 demo trades with 4 losses... now I have 17 live trades and only one loss... ( which I thank Zoopy for anyway... ) so my record is only getting better... I think it could not be just luck at this point....

Yes there will be trades I lose.... but I think we see where it will really go in the long term... the trade record speaks for itself... OK.. maybe I am a little bit good.... on my own system at least... !!
Tiki I scalp the hell out of this market with the 5MA for a living and do very well

you are on the right path, those that look for the homerun 50 and 100 pip trades will never make as much as a good scalper

76 winners in a row is my record and a newbie I taught my syatem to had 46 his first week

the 5ma is the sweet spot
Don't chase the market, Let the market come to you
  • #1,034
  • Jul 9, 2008 2:06am Jul 9, 2008 2:06am
Quoting Tiki Trader
.......

At this point, I must be doing something half way right.... I had 28 demo trades with 4 losses... now I have 17 live trades and only one loss... ( which I thank Zoopy for anyway... ) so my record is only getting better... I think it could not be just luck at this point....
Sorry Tiki,
I'm afraid that 17 trades, or even 17 + 28 is still far too small to determine if you really have an edge.
I would say that you need a good record over 100+ trades. That is real trades, demo trades and if you have a defined written down system you can even include backtest, provided you have not already used that period to refine your system rules.

I once used a system which did really well for the first few months, after 6 months I had done 399 trades risked a total of £121,614 and won £13,330.

Over the next 6 months and 238 more trades I lost all the winnings and stopped using the system. You see that I thought that I had an edge. Perhaps I did, but it was not a big enough one for me to be able to stomach the losses that bad luck can bring.

Since then I have taken Nassim Nicholas Taleb (Fooled By Randomness, and Black Swans ) very seriously. That is why now I am always a nervous trader.

Ian
  • #1,035
  • Jul 9, 2008 3:18am Jul 9, 2008 3:18am
Does anybody have an alert or know how to set or create one which will inform me every time price reaches a level? Eg: say one of my 5ema levels is 144, -144. Price is moving down and hits the 144line. I want sirens going off! (or at least a ding)
  • #1,036
  • Jul 9, 2008 5:20am Jul 9, 2008 5:20am
It is all fine what you say Ian.... and of coarse you may be right too... but I cannot live forever being a newbi.... I have spent 4 years now... I am not the greatest trader around, but I have learned a lot... can see things that I couldnot see before... things that you only learn as time goes on... things one can't really explain... TT5 was around before I ever mentioned it... I have at least a year now mulling it over in my mind... just looking at it... trading it without saying anything.... sure, I need more trades... but this is the first time I am consistanly winning... there is no reason why I cannot continue.... my greed is finally gone... I find the ability to wait for the trades now... all things I could not do before... and all things contributing to my losing or barely breaking even... I have come from 12% down earlier this year... to now starting to wipe out money lost over the last 4 years... for the first time, I know I have found something that works for me...

You are nervous.... yet finally I have lost some of my nervousness.... any good trader must have at least some confidence.... now I have some... Even with TT5 I have made some not very good trades.... but I know more now how to get myself out of a hole or a jam.. and sometimes that means waiting, having patience.... even let the trade go against me if I can see where it might come back to me.... these are all things I could not do a year or more ago.... NO... I am not merlin, or James, or raczek.... but I have finally moved from the on ramp onto the Highway.... I intend not to let anything stop me... maybe others are faster than me... and I am the slow poke... but I am getting there... I have made it through where many just lose their money and move on...

I will make my 100+ trades with TT5 and many more too....

I will win.......... I am not a loser.......


Quoting ianf0ster
Sorry Tiki,
I'm afraid that 17 trades, or even 17 + 28 is still far too small to determine if you really have an edge.
I would say that you need a good record over 100+ trades. That is real trades, demo trades and if you have a defined written down system you can even include backtest, provided you have not already used that period to refine your system rules.

I once used a system which did really well for the first few months, after 6 months I had done 399 trades risked a total of £121,614 and won £13,330.

Over the next 6 months and 238 more trades I lost all the winnings and stopped using the system. You see that I thought that I had an edge. Perhaps I did, but it was not a big enough one for me to be able to stomach the losses that bad luck can bring.

Since then I have taken Nassim Nicholas Taleb (Fooled By Randomness, and Black Swans ) very seriously. That is why now I am always a nervous trader.

Ian
  • #1,037
  • Jul 9, 2008 5:46am Jul 9, 2008 5:46am
Quoting Tiki Trader
I will win.......... I am not a loser.......
  • #1,038
  • Jul 9, 2008 8:25am Jul 9, 2008 8:25am
That's awesome Tiki that you're finally making positive gains. I just have one question, where can I find the 5 EMA. I'm new at this, but on MT4 I can find moving average but not exponential moving average.

Also, is there a thread that talks about the TT5 method you're using?

Thanks so much!

Tim
  • #1,039
  • Jul 9, 2008 10:50am Jul 9, 2008 10:50am
When you select the moving average.... also select MA type.... and put exponential....

As far as a thread for TT5...... you're readin it right here........ !!!

Quoting firecape
That's awesome Tiki that you're finally making positive gains. I just have one question, where can I find the 5 EMA. I'm new at this, but on MT4 I can find moving average but not exponential moving average.

Also, is there a thread that talks about the TT5 method you're using?

Thanks so much!

Tim
  • #1,040
  • Jul 9, 2008 12:48pm Jul 9, 2008 12:48pm
Quoting Tiki Trader
It is all fine what you say Ian.... and of coarse you may be right too... but I cannot live forever being a newbi.... I have spent 4 years now... I am not the greatest trader around, but I have learned a lot... can see things that I couldnot see before... things that you only learn as time goes on... things one can't really explain... TT5 was around before I ever mentioned it... I have at least a year now mulling it over in my mind... just looking at it... trading it without saying anything.... sure, I need more trades... but this is the first time I am consistanly winning... there is no reason why I cannot continue.... my greed is finally gone... I find the ability to wait for the trades now... all things I could not do before... and all things contributing to my losing or barely breaking even... I have come from 12% down earlier this year... to now starting to wipe out money lost over the last 4 years... for the first time, I know I have found something that works for me...

You are nervous.... yet finally I have lost some of my nervousness.... any good trader must have at least some confidence.... now I have some... Even with TT5 I have made some not very good trades.... but I know more now how to get myself out of a hole or a jam.. and sometimes that means waiting, having patience.... even let the trade go against me if I can see where it might come back to me.... these are all things I could not do a year or more ago.... NO... I am not merlin, or James, or raczek.... but I have finally moved from the on ramp onto the Highway.... I intend not to let anything stop me... maybe others are faster than me... and I am the slow poke... but I am getting there... I have made it through where many just lose their money and move on...

I will make my 100+ trades with TT5 and many more too....

I will win.......... I am not a loser.......
wow i didn't know you had 4 years under your belt! way to go
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