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Karmo's trading strategy trading GBP/JPY

  • #821
  • Oct 7, 2008 4:04am Oct 7, 2008 4:04am
Quoting Fiesta_id
Karmo, if you dont mind, could you please post the chart that show 1H QQE Downwards and candle closes below 1H Gann..

Thanks Karmo
sure

1h QQE didn't cross yet but we have a 1h candle close below 1h gann hilo
Attached Image
Trade what you see, not what you think.
  • #822
  • Oct 7, 2008 4:05am Oct 7, 2008 4:05am
Quoting belekas
Looks like we have candle close below 1hr gann and the 1hr qqe cross is comming. would you take new position and where would you place your sl if this happens Karmo?
once the QQE confirms, I would short at 1h 5sma or even 30m 5sma, my SL is always 100 pips and usually it is 1-2% of my account at risk only.
Trade what you see, not what you think.
  • #823
  • Oct 7, 2008 4:09am Oct 7, 2008 4:09am
Quoting karmostaji
once the QQE confirms, I would short at 1h 5sma or even 30m 5sma, my SL is always 100 pips and usually it is 1-2% of my account at risk only.
hmm ure using a static SL, but we could place SL below/above some significant technical level if we have it nearby. stops shouldnt be very wide. but thats what im thinking brother
  • #824
  • Oct 7, 2008 4:12am Oct 7, 2008 4:12am
Quoting belekas
hmm ure using a static SL, but we could place SL below/above some significant technical level if we have it nearby. stops shouldnt be very wide. but thats what im thinking brother
I know, but I don't feel comfortable anything less than 100 pips SL and I adjust my positions accordingly, I'll move it closer once price starts to move in my favor.

This is just how I like to trade, everyone is different you know
Trade what you see, not what you think.
  • #825
  • Oct 7, 2008 4:14am Oct 7, 2008 4:14am
Quoting karmostaji
I know, but I don't feel comfortable anything less than 100 pips SL and I adjust my positions accordingly, I'll move it closer once price starts to move in my favor.

This is just how I like to trade, everyone is different you know
For sure brother. Entries with minimal drawdown is what im after hehe Looks like price bounced from the monthly TL im observing on 1hr timeframe. BTW i have finished reading your thread
  • #826
  • Edited 9:01am Oct 7, 2008 4:20am | Edited 9:01am
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  • #827
  • Oct 7, 2008 4:20am Oct 7, 2008 4:20am
Quoting belekas
For sure brother. Entries with minimal drawdown is what im after hehe Looks like price bounced from the monthly TL im observing on 1hr timeframe. BTW i have finished reading your thread
Good good, how did you find the thread? boring? useful or just a waste of time lol
Trade what you see, not what you think.
  • #828
  • Oct 7, 2008 4:22am Oct 7, 2008 4:22am
Quoting hyh
karmo
can you tell me what are auslanco's QQE, Gann and is there any explanations behind them except experience?
I saw you references to these indicators numerous times already and from my viewpoint its not the two most used ones..
links to recent versions will be much appreciated
sorry for time-wasting question
Go through this thread, everything is in here, a post with the indicators attached, explanations, examples.

You gotta do the work
Trade what you see, not what you think.
  • #829
  • Oct 7, 2008 4:28am Oct 7, 2008 4:28am
Quoting karmostaji
Good good, how did you find the thread? boring? useful or just a waste of time lol
Well i never used any indicators besides MACD to confirm potential divergences with minimum "must reach" targets. I just use my lines to spot possible patterns/formations and trade them. Also im in ADR trading as well, everything i do is based on Igrok's trading style and methodology. But these last days when avarage dayly range is very very much expanded and no clear patterns seen i thought its time to read a little and so here i am @ your thread. Lets see how does your stuff permorm in the battlefield brother

Nice thread and keep up the head ups

Cheers
  • #830
  • Oct 7, 2008 4:31am Oct 7, 2008 4:31am
Quoting belekas
Well i never used any indicators besides MACD to confirm potential divergences with minimum "must reach" targets. I just use my lines to spot possible patterns/formations and trade them. Also im in ADR trading as well, everything i do is based on Igrok's trading style and methodology. But these last days when avarage dayly range is very very much expanded and no clear patterns seen i thought its time to read a little and so here i am @ your thread. Lets see how does your stuff permorm in the battlefield brother

Nice thread and keep up the head ups

Cheers
Great, I hope you'll learn something from this thread and add it to your trading toolbox

btw, I do enjoy looking at the different patterns and formations you post so when you spot one on GJ, please do post it
Trade what you see, not what you think.
  • #831
  • Oct 7, 2008 4:37am Oct 7, 2008 4:37am
Quoting karmostaji
Great, I hope you'll learn something from this thread and add it to your trading toolbox

btw, I do enjoy looking at the different patterns and formations you post so when you spot one on GJ, please do post it
Appriceate your support brother. I would also recommend you to go thru Igroks thread and pop in from time to time. Hes the man when it comes to trading. Ill post when any significant formation pops up infront of me, but these days nothing really significant, so maybe your way of trading in such days can help us out ?
  • #832
  • Oct 7, 2008 4:40am Oct 7, 2008 4:40am
Quoting belekas
Appriceate your support brother. I would also recommend you to go thru Igroks thread and pop in from time to time. Hes the man when it comes to trading. Ill post when any significant formation pops up infront of me, but these days nothing really significant, so maybe your way of trading in such days can help us out ?
when GJ trends, the QQE and the gann are the best indicators to use, it is not that bad too in ranging periods but you should go for quick 100 pips or so.
Trade what you see, not what you think.
  • #833
  • Oct 7, 2008 4:46am Oct 7, 2008 4:46am
Quoting karmostaji
when GJ trends, the QQE and the gann are the best indicators to use, it is not that bad too in ranging periods but you should go for quick 100 pips or so.
Yes as far as ive seen i agree. We just have to execute our plan precisely and always have a SL and sometimes a reverse order binded with the stop.
  • #834
  • Oct 7, 2008 5:20am Oct 7, 2008 5:20am
Have a look at the 5m chart, the 5m QQE crossed up long time ago but price was just ranging up and down and the QQE came out of oversold levels and now it's ready to cross back down. I took some shorts at 177.85 and once the 5m QQE crosses back down and 1h QQE confirms, I'll add some more shorts.

Target would be a couple of hundred pips but the next significant level is 78.6% monthly fibo at 170.20 but 1st I'd look for a retest of yesterdays low.
Trade what you see, not what you think.
  • #835
  • Oct 7, 2008 5:22am Oct 7, 2008 5:22am
Quoting karmostaji
Have a look at the 5m chart, the 5m QQE crossed up long time ago but price was just ranging up and down and the QQE came out of oversold levels and now it's ready to cross back down. I took some shorts at 177.85 and once the 5m QQE crosses back down and 1h QQE confirms, I'll add some more shorts.

Target would be a couple of hundred pips but the next significant level is 78.6% monthly fibo at 170.20 but 1st I'd look for a retest of yesterdays low.
Very nice i see what you mean. But to be more safier we can check 1hr timeframe and dont look at lower ones, because even 1/4hour produces enough noise. what you think? Also it looks like this might turn out to be an ascending broadening triangle formation in progress right now. Seems we might get 15m QQE cross up and 15m candle close above gann. That would make you go long Karmo? Or just close your short position? I mean only and if this 15m thing happens.
  • #836
  • Oct 7, 2008 5:25am Oct 7, 2008 5:25am
Quoting karmostaji
Have a look at the 5m chart, the 5m QQE crossed up long time ago but price was just ranging up and down and the QQE came out of oversold levels and now it's ready to cross back down. I took some shorts at 177.85 and once the 5m QQE crosses back down and 1h QQE confirms, I'll add some more shorts.

Target would be a couple of hundred pips but the next significant level is 78.6% monthly fibo at 170.20 but 1st I'd look for a retest of yesterdays low.

Isn't the 5 sma at the 178.20ish level on the hourly. that's what I got Karmo
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #837
  • Oct 7, 2008 5:28am Oct 7, 2008 5:28am
Quoting belekas
Very nice i see what you mean. But to be more safier we can check 1hr timeframe and dont look at lower ones, because even 1/4hour produces enough noise. what you think? Also it looks like this might turn out to be an ascending broadening triangle formation in progress right now. Seems we might get 15m QQE cross up and 15m candle close above gann. That would make you go long Karmo? Or just close your short position? I mean only and if this 15m thing happens.
Yah to be on the safe side, just stick to the 1h/4h and Daily TF, you'll get plenty of pips.

Let's see how the 15m closes, but look at the 4h QQE, it has already crossed up but price is trading below 4h gann, that's a big indication of bearish continuation and it might take a while for it to play out but it is a bearish sign as long as price remains below 4h gann.
Trade what you see, not what you think.
  • #838
  • Oct 7, 2008 5:30am Oct 7, 2008 5:30am
Quoting jarroo
Isn't the 5 sma at the 178.20ish level on the hourly. that's what I got Karmo
correct, but sometimes it gets close to it and doesn't touch it and if I miss the entry, it annoys me like hell lol

so I start scalling in once it is very close to it
Trade what you see, not what you think.
  • #839
  • Oct 7, 2008 5:32am Oct 7, 2008 5:32am
Quoting karmostaji
correct, but sometimes it gets close to it and doesn't touch it and if I miss the entry, it annoys me like hell lol

so I start scalling in once it is very close to it
Within 20-30 pips understandable.

Patience my brother. Just kidding.
Indicators show the past. Price Action "Indicates" the future.
  • #840
  • Oct 7, 2008 5:32am Oct 7, 2008 5:32am
Quoting karmostaji
Yah to be on the safe side, just stick to the 1h/4h and Daily TF, you'll get plenty of pips.

Let's see how the 15m closes, but look at the 4h QQE, it has already crossed up but price is trading below 4h gann, that's a big indication of bearish continuation and it might take a while for it to play out but it is a bearish sign as long as price remains below 4h gann.
If 15 min QQE cross up and we get a candle close above 15m gann, would you engage a long position? Yes i see 4hr QQE. I think some pattern ir beying constructed. I see broadening triangles on GJ, EJ and UJ.
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