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Part Time Wealth Building Trading System - Daily Scalping

  • #321
  • Feb 13, 2007 6:11pm Feb 13, 2007 6:11pm
Quoting tkimble
Sorry if I offended anybody but I am only an average trader and cannot predict future movements. Do no want to portray anything different.

Happy Trading,

TK
I am complimenting you. You couldn't have said it any better than what you did. You took the words out of my mouth.
Mr. Trend
  • #322
  • Feb 13, 2007 6:12pm Feb 13, 2007 6:12pm
Quoting tkimble
I only show two short candles no my chart...

TK
And this is a prime reason why we SERIOUSLY need a central exchange. I show FOUR CANDLES RED...

Sheesh...
Mr. Trend
  • #323
  • Feb 13, 2007 6:20pm Feb 13, 2007 6:20pm
Quoting Mr Trend
And this is a prime reason why we SERIOUSLY need a central exchange. I show FOUR CANDLES RED...

Sheesh...
Both the GBP/JPY and GBP/USD daily charts using MT4 show last two days as down days. The GBP/USD was almost breakeven at 2400 GMT today...

TK
  • #324
  • Feb 13, 2007 6:25pm Feb 13, 2007 6:25pm
Quoting tkimble
Both the GBP/JPY and GBP/USD daily charts using MT4 show last two days as down days. The GBP/USD was almost breakeven at 2400 GMT today...

TK
It depends upon which MT4 broker you are using. They are all different.
  • #325
  • Feb 13, 2007 6:41pm Feb 13, 2007 6:41pm
Quoting b-rock
It depends upon which MT4 broker you are using. They are all different.
Exactly. I am looking at FXDD, but if I switch to MIG, it's going to be different. If I switch to IBFX, it'll be different.

Once again, I think it all evens out in the end, but still, it's a real pain.
Mr. Trend
  • #326
  • Feb 13, 2007 6:51pm Feb 13, 2007 6:51pm
Hi,

Is there a set up help section for the EA? Can some one please direct me.

I got as far as attaching the EA to the chart but seem to be stuck. How do I get it to operate?

Many thanks for your time
  • #327
  • Feb 13, 2007 7:13pm Feb 13, 2007 7:13pm
Quoting Bad.hair.spray
Hi,

Is there a set up help section for the EA? Can some one please direct me.

I got as far as attaching the EA to the chart but seem to be stuck. How do I get it to operate?

Many thanks for your time

If it shows the EA in the top right hand corner of your chart with an x under it, you need to click on the Expert advisor button. There should be a green spot on the button. There will be a smily face underneath the EA name on the top right hand corner. If you click the EA button and get a frown, then you need to right click on the screen and select expert advisors, properties, click the common tab and place a checkmark in the Allow live trading box.

Hope this helps.
  • #328
  • Feb 13, 2007 7:44pm Feb 13, 2007 7:44pm
My Dear Mr. Trend,

Simply a curious question. Do you trade this method? If so. How is it going?
If not what do you prefer?

Curiously,
Lou

Quoting Mr Trend
Exactly. I am looking at FXDD, but if I switch to MIG, it's going to be different. If I switch to IBFX, it'll be different.

Once again, I think it all evens out in the end, but still, it's a real pain.
  • #329
  • Feb 13, 2007 7:57pm Feb 13, 2007 7:57pm
Quoting tkimble
OK. We are entering the most risky part of the week because of the previous two days of price action. I will be SHORTING the GBP/JPY in 4 minutes and staying with my current GBP/USD SHORT which is at a breakeven position.

The reason for the high risk is becuase the chances of the GBP/JPY moving up are greater than the chances it will continue its downward trend becuase of simple market pressures associated with extended moves in one direction.

Hope this helps...

TK
Tkimble,

Your system has proven itself to many FF members and I applaud and appreciate your willingness to share. As such, please don't take this comment as anything more than the melodramatic response it is.

WHAT THE HELL ARE YOU TALKING ABOUT?
"The reason for the high risk is becuase the chances of the GBP/JPY moving up are greater than the chances it will continue its downward trend becuase of simple market pressures associated with extended moves in one direction."

Can you please substantiate this somehow?

Best Regards,

fx_trader
I am addicted to chaos. That's why I trade forex.
  • #330
  • Feb 13, 2007 8:04pm Feb 13, 2007 8:04pm
Control yourself....
  • #331
  • Feb 13, 2007 8:18pm Feb 13, 2007 8:18pm
Quoting fx_trader
Tkimble,

Your system has proven itself to many FF members and I applaud and appreciate your willingness to share. As such, please don't take this comment as anything more than the melodramatic response it is.

WHAT THE HELL ARE YOU TALKING ABOUT?
"The reason for the high risk is becuase the chances of the GBP/JPY moving up are greater than the chances it will continue its downward trend becuase of simple market pressures associated with extended moves in one direction."

Can you please substantiate this somehow?

Best Regards,

fx_trader
fx_trader,
Please keep this thread out of the gutter.
  • #332
  • Feb 13, 2007 8:33pm Feb 13, 2007 8:33pm
Thanks for your response. What should the entries in the input values? Or should it just be left as it is.... I got the smiley face but i don't think the EA works
  • #333
  • Feb 13, 2007 8:53pm Feb 13, 2007 8:53pm
You people need to lighten up. I don't see a gutter anywhere, nor do I see any reason to exhibit control. It was obviously in jest.......................


Quote
please don't take this comment as anything more than the melodramatic response it is.
Now follow the method, make some pips, and pull yourself out of the mud ya stick.
  • #334
  • Feb 13, 2007 9:21pm Feb 13, 2007 9:21pm
Quoting Lou
My Dear Mr. Trend,

Simply a curious question. Do you trade this method? If so. How is it going?
If not what do you prefer?

Curiously,
Lou
Actually, I am... just started. I'm going to automate it, however, which is why I'm wanting Michal to fix some of the issues that we have in this Rhythm EA.

I also trade Woodie's CCI for intraday.
Mr. Trend
  • #335
  • Feb 13, 2007 9:33pm Feb 13, 2007 9:33pm
Quoting Mr Trend
Actually, I am... just started. I'm going to automate it, however, which is why I'm wanting Michal to fix some of the issues that we have in this Rhythm EA.

I also trade Woodie's CCI for intraday.

Woodies .. I liked what I saw. Really looked at it for many weeks. I use VT charts and they have a good woodies indicator. I could not really trade the system though, due to sleeping during the London session and working just after the US opening. Plus my VT does not 'work' when I am at work. (If that makes sense) So I use O anda to monitor... but no woodies on that pkg.

Curiously again. Did you go long or short tonight. I am in US central time . Which brings up another idea. Especially on this thread Everyone should use GMT time for consistency.

Anyway my sleep/work shedule necessity is the mother of this method - invention.

Holy Grailing, Batman !!

Long tonight Lou
  • #336
  • Feb 13, 2007 9:37pm Feb 13, 2007 9:37pm
One problem I had with Rhythm EA is that it did not close the trade at the proper time. When I went to try to change any inputs to it I got an error message and it stopped working. I found that if I remove it and reload it onto the chart prior to the start of the trading day it works fine.
Thanks for your work on it. I look forward to using it.
  • #337
  • Feb 13, 2007 9:39pm Feb 13, 2007 9:39pm
Quoting Mr Trend
Actually, I am... just started. I'm going to automate it, however, which is why I'm wanting Michal to fix some of the issues that we have in this Rhythm EA.

I also trade Woodie's CCI for intraday.
where can i find the latest Rhythm EA?this EA is for daily or weekly scalping?
  • #338
  • Edited 11:21pm Feb 13, 2007 10:32pm | Edited 11:21pm
Quoting fx_trader
Tkimble,

Your system has proven itself to many FF members and I applaud and appreciate your willingness to share. As such, please don't take this comment as anything more than the melodramatic response it is.

WHAT THE HELL ARE YOU TALKING ABOUT?
"The reason for the high risk is becuase the chances of the GBP/JPY moving up are greater than the chances it will continue its downward trend becuase of simple market pressures associated with extended moves in one direction."

Can you please substantiate this somehow?

Best Regards,

fx_trader
LOL - Sorry for the confusion. Sometimes my words are a bit confusing. I will try again.

Anytime there is extended move in one direction the pressure builds to correct that move. Be it profit taking or simply covering positions, the market will evenutally correct in the opposite direction. My experience tells me that the pressure and likelihood to reverse becomes statiscally significant and in favor of reversing position after three consecutive days in one direction. If you are familiar with Elliot Wave theory, it is analogous to the 1,2,3,A,B,C,D and E waves.

Look at the charts and you will see what I mean. Does not happen all the time but enough to increase the odds of profitable trades over extended period of time. As a result of this observation, I reverse my position after three consecutive days of price movement in the same direction. Just a part of my trading style. Most may not feel comfortable with this idea but it fits my trading style.

Hope this helps...

TK

Hope this helps
  • #339
  • Feb 13, 2007 11:16pm Feb 13, 2007 11:16pm
Quoting MillerHighLife
I ran into some major pip slippage last night on Oanda on the GBP/JPY at around 4:15am EST. What about y'all?

I had a SL blown right through...should've stopped me out at 50, but instead ended up being close to 100!

Anybody else run into this issue?
We must have had similar trades, at 04:31 i was stopped out at -84 pips on my 40 pip S/L!

Just curious, are you entering your trades at 22:00 Eastern or 00 GMT?
  • #340
  • Feb 14, 2007 12:31am Feb 14, 2007 12:31am
mr t, i am on fxdd too and you are right. last 4 candles of GBPUSD are short. accordingly i have placed long. currently i am -.5.6 pips on Oanda. my gbpjpy trade was short. on oanda it got messed up and has disappeared from the active list !, and on gft it is - 34.. it is 630 am gmt now.


i also agree with your view that we seem to be getting obsessed about platforms. in the long run the system will prove itself should itself in any platform


Quoting Mr Trend
Exactly. I am looking at FXDD, but if I switch to MIG, it's going to be different. If I switch to IBFX, it'll be different.

Once again, I think it all evens out in the end, but still, it's a real pain.
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