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the key to the mint

  • #3,941
  • Edited 11:12pm Sep 13, 2008 11:00pm | Edited 11:12pm
Hi Which Time frame would be the most to use 5 min. or 15 min?
Looks like 5 min looks good.
Also do you use Fibo Expansion for your exits

Thanks
My Email For Help: [email protected]
  • #3,942
  • Sep 14, 2008 1:02am Sep 14, 2008 1:02am
Quoting tcmm
Hi Which Time frame would be the most to use 5 min. or 15 min?
Looks like 5 min looks good.
Also do you use Fibo Expansion for your exits

Thanks
Harold uses the 5 minute time frame. The take profit exit is equal to the risk. The risk is the distance between points 2 and 3 plus a pip on each side plus the spread.
The setup is to wait for a trend in the opposite direction from the daily trend, then look for a 1-2-3 pattern back in the direction of the trend.
  • #3,943
  • Sep 14, 2008 8:20pm Sep 14, 2008 8:20pm
i am in trading room now
  • #3,944
  • Sep 14, 2008 11:15pm Sep 14, 2008 11:15pm
Hi Guys Sun. Sept. 14/ 9.50pm Eastern. EUR/USD Made 20pips on a 123.
It also popped out of a triangle too.
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My Email For Help: [email protected]
  • #3,945
  • Sep 15, 2008 2:15am Sep 15, 2008 2:15am
hi tcmm,
the only problem with the eur/usd trade is that we should be only for short trades.we find the direction from the daily charts.
andrew
Survive & Preserve
  • #3,946
  • Sep 15, 2008 8:55am Sep 15, 2008 8:55am
Quoting andrewb7
hi tcmm,
the only problem with the eur/usd trade is that we should be only for short trades.we find the direction from the daily charts.
andrew
Hi Andrew the EURO was in retracement from the last daily candles. You can go when it retraces on a daily. I know from Elliot wave. Been doing it for years. ONLY RETRACEMENT FROM A UP OR DOWN TREND you can pickup 123's once in a while.
Also can you do back to back 123's on a 5 min chart?
My Email For Help: [email protected]
  • #3,947
  • Sep 15, 2008 11:45am Sep 15, 2008 11:45am
hi tccm i know you can do alot of things with 123 but my method consists of curtain rules which i follow otherwise you have a bunch of different methods if what you are doing works for you great what i do works for me
  • #3,948
  • Sep 15, 2008 4:03pm Sep 15, 2008 4:03pm
Quoting harold4x
hi tccm i know you can do alot of things with 123 but my method consists of curtain rules which i follow otherwise you have a bunch of different methods if what you are doing works for you great what i do works for me
Hi Harold Can back to back 123's be traded after one another Thanks
My Email For Help: [email protected]
  • #3,949
  • Sep 15, 2008 4:08pm Sep 15, 2008 4:08pm
if you mean after you have a loss and another setups up sure. i personally though if i have a win i am done for the day you see my money management is based on wins and losses trading each trade at 3% of my acct. so if i have 15 trades in a month (which is the norm) and have 10 wins and 5 losses ( the norm has been higher) i am plus 5 wins equaling 15% increase in acct
  • #3,950
  • Sep 15, 2008 4:17pm Sep 15, 2008 4:17pm
Quoting harold4x
if you mean after you have a loss and another setups up sure. i personally though if i have a win i am done for the day you see my money management is based on wins and losses trading each trade at 3% of my acct. so if i have 15 trades in a month (which is the norm) and have 10 wins and 5 losses ( the norm has been higher) i am plus 5 wins equaling 15% increase in acct
Yes I do that too. Also Let me clear up the Daily chart trend. Does the 5&8 ema have to crossed or does the 5ema show the up or down trend.
My Email For Help: [email protected]
  • #3,951
  • Sep 15, 2008 4:25pm Sep 15, 2008 4:25pm
i determine daily trend this way when daily candle closes like tonite at around 8pm est i want to see if the 5 and 8 have crossed and if they did is the rsi crossed the 50 level in same direction. like pound today it closed on friday is 5 ema above 8 ema but the rsi was still below 50 level so i dont look for a setup on that pair i dont look for where the ema just the value of it since thats the real price not the picture of it
  • #3,952
  • Sep 15, 2008 4:57pm Sep 15, 2008 4:57pm
Quoting harold4x
i determine daily trend this way when daily candle closes like tonite at around 8pm est i want to see if the 5 and 8 have crossed and if they did is the rsi crossed the 50 level in same direction. like pound today it closed on friday is 5 ema above 8 ema but the rsi was still below 50 level so i dont look for a setup on that pair i dont look for where the ema just the value of it since thats the real price not the picture of it

Another way to show Main trend from the Daily, which I use all the time if this will help, is if the 200ema shows up on the daily, and on the 5 min it shows up you can take the 123 if it shows. Also I know that from other methods that I trade, that 9 sma and 18 sma on Daily Charts are fantastic for trend Direction with the 200ema, just to let you know not to change the rules

Thanks
My Email For Help: [email protected]
  • #3,953
  • Sep 15, 2008 6:13pm Sep 15, 2008 6:13pm
there are literally 1000's of ways to determine daily trend i chose this and have been using this for about 6 years so thats enough time at least for me to show that it has consistently worked
  • #3,954
  • Sep 15, 2008 11:09pm Sep 15, 2008 11:09pm
sorry guys for last night had to take an important call(ministry) but you guys know what to do the eurjpy and eurusd both setup the eurjpy was a better setup for this reason the candle before taking out point 2 showed all indicators crossed already eurusd didnt so i went with that one 6 wins 2 losses for month so far
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  • #3,955
  • Sep 16, 2008 6:33pm Sep 16, 2008 6:33pm
i am in trading room now
  • #3,956
  • Sep 17, 2008 2:57pm Sep 17, 2008 2:57pm
Harold,

Thank you for taking the time to come to the trading room and help us to understand how to trade.

I want to be there everytime you are there -- to learn -- but I have an unusual work schedule.

I have been reading and following along the best I can, but if I am not in the room each time don't think I have lost interest. I will be there every chance I get.

Keep posting the screenshots of your trades, if you don't mind.

PD
  • #3,957
  • Sep 17, 2008 7:47pm Sep 17, 2008 7:47pm
Its A Shame Nobody Was In Room Within Last 30 Minutes I Caught The Gbpusd Long For A Win
  • #3,958
  • Sep 17, 2008 7:53pm Sep 17, 2008 7:53pm
Hi guys. Can somebody tell me how to get to trading room. I have never been there before. Any help would be appreciated. Thanks.
  • #3,959
  • Sep 18, 2008 12:54am Sep 18, 2008 12:54am
Quoting Bucko6667
Hi guys. Can somebody tell me how to get to trading room. I have never been there before. Any help would be appreciated. Thanks.
Hi Bucko6667

1. You need to register an account there:
http://www.tradingrooms.com/subscribe/default.aspx

choose "Community Edition"

2. You need to download the software:
http://www.tradingrooms.com/download/Download.aspx

Then use your registered username and password to login, find "Key 2 the Mint" under "Community Trading Rooms".

Cheers,
Simon
  • #3,960
  • Sep 18, 2008 1:12am Sep 18, 2008 1:12am
Hi Harold,

Can you please look at this: is it a valid entry based on the rules? RSI < 50 / Stoc crossing / Daily down. It was stopped out 2 hours later.

Or I have to wait until the last bottom was broken?

Thank you.

Cheers,
Simon
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