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Karmo's trading strategy trading GBP/JPY

  • #881
  • Oct 8, 2008 11:18am Oct 8, 2008 11:18am
Quoting karmostaji
I never really tried scalping GJ, I'm going to try scalping using the 5m and 15m QQE and Gann hilo, in addition to the 50ema, 200ema, 100sma, and ofcourse the 5sma. Targeting 30-50 pips only

I'm still going to trade higher TF still
can you tell us the strategy you use for scalping? because it seems to be interesting!
I recommend you read something else as this sentence is now concluded.
  • #882
  • Oct 8, 2008 12:32pm Oct 8, 2008 12:32pm
Quoting karmostaji
no question is a dumb one, so ask anything you wish my friend


I have a question: What is the significants of the 5sma on the Hilo Gain?

I know we wait for the candle to close above or below the gain, for confirmation of either buy or Sell.

But not sure where the 5sma comes into play, and how to use it correctly with the Hilo Gain ??

Thanks for your assistance in advance.
  • #883
  • Oct 8, 2008 6:08pm Oct 8, 2008 6:08pm
what kind of spreads are you guys getting right now for GBPJPY?
  • #884
  • Oct 8, 2008 8:04pm Oct 8, 2008 8:04pm
Quoting dreed
I have a question: What is the significants of the 5sma on the Hilo Gain?

I know we wait for the candle to close above or below the gain, for confirmation of either buy or Sell.

But not sure where the 5sma comes into play, and how to use it correctly with the Hilo Gain ??

Thanks for your assistance in advance.
i can answer that question if i may, 5sma plays a good role to tell you when to enter the trade, since price tends to stay very close to its 5sma your best entry should be right at it, another thing you could use 5sma for is, when the market is in an upside movement and the momentum for the new candle is pointing down then price is likely to retrace its 5sma.
I recommend you read something else as this sentence is now concluded.
  • #885
  • Oct 8, 2008 11:28pm Oct 8, 2008 11:28pm
Quoting Obaidah
i can answer that question if i may, 5sma plays a good role to tell you when to enter the trade, since price tends to stay very close to its 5sma your best entry should be right at it, another thing you could use 5sma for is, when the market is in an upside movement and the momentum for the new candle is pointing down then price is likely to retrace its 5sma.
Trade what you see, not what you think.
  • #886
  • Oct 9, 2008 12:06am Oct 9, 2008 12:06am
Karmo, I'd like to ask..
what happen if QQE cross up/down before closed candle above/below Gann?
is that the same result with Candle Closed above/below gann, after that QQE cross up/down?

thanks My Friend
  • #887
  • Oct 9, 2008 1:55am Oct 9, 2008 1:55am
Quoting Fiesta_id
Karmo, I'd like to ask..
what happen if QQE cross up/down before closed candle above/below Gann?
is that the same result with Candle Closed above/below gann, after that QQE cross up/down?

thanks My Friend
Lets say the 1h QQE is crossed up and a candle is formed above, so the hourly trend is up

now let's go to the 15m, if the 15m QQE crosses down much earlier and then after 4-5 candles it closes below gann, that's an indication of bullish continuation, so I would wait for the 15m QQE to reverse back up and enter long.
Trade what you see, not what you think.
  • #888
  • Oct 9, 2008 5:01am Oct 9, 2008 5:01am
Quoting karmostaji
Lets say the 1h QQE is crossed up and a candle is formed above, so the hourly trend is up

now let's go to the 15m, if the 15m QQE crosses down much earlier and then after 4-5 candles it closes below gann, that's an indication of bullish continuation, so I would wait for the 15m QQE to reverse back up and enter long.
I learn a lot from you.., Thanks Karmo...
  • #889
  • Oct 9, 2008 7:00am Oct 9, 2008 7:00am
Quoting karmostaji
Lets say the 1h QQE is crossed up and a candle is formed above, so the hourly trend is up

now let's go to the 15m, if the 15m QQE crosses down much earlier and then after 4-5 candles it closes below gann, that's an indication of bullish continuation, so I would wait for the 15m QQE to reverse back up and enter long.
OK, I want to make sure I really understand this .. you have alluded to this pattern many times.
The 1h QQE is crossed up and a 1h candle closes above the gann (opens & closes above? or just closes above is OK?)
Now watch the 15m and if QQE crosses down and 4-5 candles later (on 15) a candle closes BELOW the gann ... that means bullish continuation??
So you wait for the 15m QQE to reverse back up to enter long.

It seems contra-indicative that you watch the 15m for QQE to cross down AND a candle to close below the gann ... that would seem to indicate a change of direction from bullish to bearish ... see what I mean?
  • #890
  • Oct 9, 2008 8:19am Oct 9, 2008 8:19am
Quoting TraderStar
OK, I want to make sure I really understand this .. you have alluded to this pattern many times.
The 1h QQE is crossed up and a 1h candle closes above the gann (opens & closes above? or just closes above is OK?)
Now watch the 15m and if QQE crosses down and 4-5 candles later (on 15) a candle closes BELOW the gann ... that means bullish continuation??
So you wait for the 15m QQE to reverse back up to enter long.

It seems contra-indicative that you watch the 15m for QQE to cross down AND a candle to close below the gann ... that would seem to indicate a change of direction from bullish to bearish ... see what I mean?
I know what you mean, here I'll give you a better example

Let's say 1h QQE crosses upwards and the 1h candle closes above the 1h Gann at the same time or 1 candle delay

now if you want to know the 15m chart is going to continue upwards or not, sometimes you will notice the 15m QQE crossing downwards and after the cross by 4-5 or so candles a candle will close below 15m, but remember the QQE closed much earlier, so price might keep jumping up n down around the Gann until the QQE is ready to cross back up, once you see the 15m QQE crossing back up and a candle is above the gann, the bull-run will continue.

Look back on your charts, you will find this same exact situation I just explained.
Trade what you see, not what you think.
  • #891
  • Oct 9, 2008 10:10am Oct 9, 2008 10:10am
Quoting karmostaji
I know what you mean, here I'll give you a better example

Let's say 1h QQE crosses upwards and the 1h candle closes above the 1h Gann at the same time or 1 candle delay

now if you want to know the 15m chart is going to continue upwards or not, sometimes you will notice the 15m QQE crossing downwards and after the cross by 4-5 or so candles a candle will close below 15m, but remember the QQE closed much earlier, so price might keep jumping up n down around the Gann until the QQE is ready to cross back up, once you see the 15m QQE crossing back up and a candle is above the gann, the bull-run will continue.

Look back on your charts, you will find this same exact situation I just explained.
actually that was a very valuable information, thanks for this great work.
I recommend you read something else as this sentence is now concluded.
  • #892
  • Oct 9, 2008 10:35am Oct 9, 2008 10:35am
Quoting karmostaji
now if you want to know the 15m chart is going to continue upwards or not, sometimes you will notice the 15m QQE crossing downwards and after the cross by 4-5 or so candles a candle will close below 15m, but remember the QQE closed much earlier, so price might keep jumping up n down around the Gann until the QQE is ready to cross back up, once you see the 15m QQE crossing back up and a candle is above the gann, the bull-run will continue.

Look back on your charts, you will find this same exact situation I just explained.
OK, now I get it .. and checking back in time helped as well, there are several examples. Thanks!
  • #893
  • Edited 12:12pm Oct 9, 2008 11:52am | Edited 12:12pm
Quoting Obaidah
actually that was a very valuable information, thanks for this great work.
I agree with you.., that is very valuable information!
perhap we should collect every Karmo's posting about QQE and Gann, and then put it in e-book


this Karmo strategy is simple and looks great, but I still need more practice to get used to..
and always taking Karmo Patience pills before open the chart lol..
  • #894
  • Oct 10, 2008 12:08am Oct 10, 2008 12:08am
Quoting karmostaji
I know what you mean, here I'll give you a better example

Let's say 1h QQE crosses upwards and the 1h candle closes above the 1h Gann at the same time or 1 candle delay

now if you want to know the 15m chart is going to continue upwards or not, sometimes you will notice the 15m QQE crossing downwards and after the cross by 4-5 or so candles a candle will close below 15m, but remember the QQE closed much earlier, so price might keep jumping up n down around the Gann until the QQE is ready to cross back up, once you see the 15m QQE crossing back up and a candle is above the gann, the bull-run will continue.

Look back on your charts, you will find this same exact situation I just explained.
i got a question for you, what if 15 QQE crossed downwards at the same time the candle closed below Gann HiLo but 5 candles later price went above Gann HiLo again while QQE is still crossed downwards, will that indicate a possible bearish continuation?
I recommend you read something else as this sentence is now concluded.
  • #895
  • Oct 10, 2008 4:19am Oct 10, 2008 4:19am
Quoting Obaidah
i got a question for you, what if 15 QQE crossed downwards at the same time the candle closed below Gann HiLo but 5 candles later price went above Gann HiLo again while QQE is still crossed downwards, will that indicate a possible bearish continuation?
That happens, that is why I keep track of the 15m QQE and 1h QQE just to know the main direction, and use a stop-loss.
Trade what you see, not what you think.
  • #896
  • Oct 10, 2008 7:22am Oct 10, 2008 7:22am
Hi Karmo,
Thanks for taking the time to run a thread and answer questions.
I have been using QQE for a while now together with fibonacci levels/clusters etc.

I like the QQE Gann HI LO system that you are using on the 5 min GJ and followed it yesterday and took a couple of winning trades and one losing one.

As I understand it the candle has to close above/Below the Gann with the QQE cross taking place at the same time or close to it. THe QQE has to close and if price has moved significantly away from the 5 min SMA, then I must wait until price retraces close to the 5 sma to take the trade.

Is this correct? and is there a defacto stop loss used or some other way of calculating it? I have heard 20 pips mentioned which seems a tad tight on this pair.

Any way Thanks for your input on the FF forum, its good stuff. That Friend of yours Lilmoe also seems to be a bit of a genius too!

Kind Regards,

Nigel
PS I thought the GJ was wild until I saw reference to the Euro/Aud! 1-2,000 pips a day. Gulp
  • #897
  • Oct 10, 2008 8:38pm Oct 10, 2008 8:38pm
Quoting karmostaji
That happens, that is why I keep track of the 15m QQE and 1h QQE just to know the main direction, and use a stop-loss.
scapling requires same conditions for h4 and 1h charts should meet 15 and 5? or on 15 and 5 no need for QQE to cross above 50 line? and please check if the following was a valid signal or invalid one: http://www.forexfactory.com/showpost...stcount=121147
I recommend you read something else as this sentence is now concluded.
  • #898
  • Oct 12, 2008 11:15pm Oct 12, 2008 11:15pm
Hey karmo, when you make comments in the other thread, could you also paste them in here .. the other place is so "noisy" with opinions in every direction, I prefer to just keep it simple in here
Thanks.
  • #899
  • Oct 12, 2008 11:16pm Oct 12, 2008 11:16pm
Quoting TraderStar
Hey karmo, when you make comments in the other thread, could you also paste them in here .. the other place is so "noisy" with opinions in every direction, I prefer to just keep it simple in here
Thanks.
Sure no problem
Trade what you see, not what you think.
  • #900
  • Oct 12, 2008 11:18pm Oct 12, 2008 11:18pm
Price is still trading within the 1h bear flag, and we just had a 1h QQE cross down and a candle closes below 1h gann but would like to see the lower TL break first.

I'm still bearish on GJ and should see a re-test of the lows and there's a high possibility of a new low.
Trade what you see, not what you think.
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