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Karmo's trading strategy trading GBP/JPY

  • #1,461
  • Nov 16, 2008 11:12pm Nov 16, 2008 11:12pm
4h QQE has crossed upwards for a bit now but price has not been able to get above the 4h gann, this is usually a bearish continuation sign to me. Price is also still below the daily gann hilo.
Attached Image
Trade what you see, not what you think.
  • #1,462
  • Nov 17, 2008 4:04am Nov 17, 2008 4:04am
Hi Karmo,
I am a little bit confused here.

As you are waitting for price to retrace to 5 ema in H1 and going long here in M15 price closed below GANN and retraced to 5ema and I am ready to go short.

Price is below 4HR Gann and we could consider the market bearish.

How do you analyse that?

Thanks
Mike
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Click to Enlarge Name: m15.gif Size: 28 KB
Click to Enlarge Name: h1.gif Size: 28 KB
Failure, is a wonderful teacher!
  • #1,463
  • Nov 17, 2008 4:49am Nov 17, 2008 4:49am
Quoting mike1349
Hi Karmo,
I am a little bit confused here.

As you are waitting for price to retrace to 5 ema in H1 and going long here in M15 price closed below GANN and retraced to 5ema and I am ready to go short.

Price is below 4HR Gann and we could consider the market bearish.

How do you analyse that?

Thanks
Mike
It will end up ranging up n down if 4h/1h are not agreement with the direction. I will short when a candle closes below 1h gann, as we know the 4h is already bearish.

Plus I see a 4h bear flag with 146 being the UTL of the flag, if price gets there I'll start to short.
Trade what you see, not what you think.
  • #1,464
  • Nov 17, 2008 1:19pm Nov 17, 2008 1:19pm
Quoting karmostaji
It will end up ranging up n down if 4h/1h are not agreement with the direction. I will short when a candle closes below 1h gann, as we know the 4h is already bearish.

Plus I see a 4h bear flag with 146 being the UTL of the flag, if price gets there I'll start to short.

Hello Karmo,

Can you check my chart? My 4hr isn't showing bearish. Can you tell me how to fix it?

http://img220.imageshack.us/my.php?image=gj1hrcd0.gif
http://img146.imageshack.us/my.php?image=gj4hrbz7.gif
  • #1,465
  • Nov 17, 2008 4:58pm Nov 17, 2008 4:58pm
Ya know, karmo I am slowly beginning to 'see' what you see on the 4h and 1h charts and how it works with thie gann/qqe thing. Not sure why it takes such a long time to learn something so simple but in the beginning, although I understood the rules, I was still not seeing it for myself and missed a couple of the major moves.
Now when you make your comments, I can follow along and even anticipate them. Hope that will soon translate into a fat account

I have a ton of people on ignore in the other thread, not because some of them are not good traders but the constant chatter is becoming very unproductive. One person actually started posting & insisting that the direction was up, up & he was building long positions .. but neglected to say until 20 posts later that he planned to hold for months or years (!)

Others scream up, down, sideways .. but are talking about the tick chart.

What I love about karmo is consistency: if the chart says up, it's up until the chart changes its mind And I'm beginning to 'see' for myself when that happens...

Good stuff. Please don't go anywhere until I have mastered this
  • #1,466
  • Nov 17, 2008 6:38pm Nov 17, 2008 6:38pm
Good for you ,

I was thinking I've learned Karmo's syatem too but today I messed up

I guess I have to read and practice more.Please share your charts with us

Mike
Failure, is a wonderful teacher!
  • #1,467
  • Nov 17, 2008 9:52pm Nov 17, 2008 9:52pm
Quoting karmostaji
It will end up ranging up n down if 4h/1h are not agreement with the direction. I will short when a candle closes below 1h gann, as we know the 4h is already bearish.

Plus I see a 4h bear flag with 146 being the UTL of the flag, if price gets there I'll start to short.
now the 4h candle is above gann and 1h below gann, more ranging lol

Actually I'd pay more attention to the 4h bear flag in this case than QQE n gann, I expect the flag to be broken to the downside but we'll have to wait and see.
Trade what you see, not what you think.
  • #1,468
  • Nov 17, 2008 9:55pm Nov 17, 2008 9:55pm
Quoting TraderStar
Ya know, karmo I am slowly beginning to 'see' what you see on the 4h and 1h charts and how it works with thie gann/qqe thing....
Most of the people don't know how to use these lovely indicators properly, they can't see the magic behind them.

I've got many people on ignore too, and I don't listen to anyone's call there, I just go through it for fun lol, I trade what my chart and indicators tell me only.
Trade what you see, not what you think.
  • #1,469
  • Nov 17, 2008 9:56pm Nov 17, 2008 9:56pm
Quoting mike1349
Good for you ,

I was thinking I've learned Karmo's syatem too but today I messed up

I guess I have to read and practice more.Please share your charts with us

Mike
These 2 days it's been jumping up n down, I'm having a wild ride myself lol

Don't worry, just make sure you use good money management so you wouldn't get hurt much by being stopped out.
Trade what you see, not what you think.
  • #1,470
  • Nov 17, 2008 10:01pm Nov 17, 2008 10:01pm
Karmo,
Thanks for all of your contributions to these forums. What hours do you usually trade? I'm getting tired of watching for your posts with all of the silly chatter that goes on in the GY thread and it would be easier if I knew your usual times that you are there.
Just when you think you've figured it all out, the picture changes....
  • #1,471
  • Nov 17, 2008 10:04pm Nov 17, 2008 10:04pm
Quoting RobUSAFLA
Karmo,
Thanks for all of your contributions to these forums. What hours do you usually trade? I'm getting tired of watching for your posts with all of the silly chatter that goes on in the GY thread and it would be easier if I knew your usual times that you are there.
Starting now until the end of the US session, I'm always asleep during the Asian session.
Trade what you see, not what you think.
  • #1,472
  • Nov 17, 2008 11:06pm Nov 17, 2008 11:06pm
Quoting karmostaji
Starting now until the end of the US session, I'm always asleep during the Asian session.
I've added a world clock on Dubai time to my collection so I can keep track of when karmo might be prowling...

I see she failed the WP again, she seems to be getting weaker in her attempts to cross the 146 barrier. And the 4h flag is breaking & 1h below gann again .. I think I missed a decent short entry by about 30 minutes.
  • #1,473
  • Nov 18, 2008 4:09am Nov 18, 2008 4:09am
hi karmo, i have read through this thread. i have been following your trade calls in the other thread. i have already made blunders that have almost wiped out my account. now i only want to take high probability trades only. at least to shore up my account a little. i have downloaded the indicators for the system you trade as well as the template.
now, i see PA is above gann on 4h but below gann on 1h. QQE is about to cross down on ih ( cross 50 line) but still below 50 line on 4h.but you say bearish continuation? again, there seem to be buying interest in GU. so what should i watch out for? cross of QQE in 1h?
  • #1,474
  • Nov 18, 2008 4:32am Nov 18, 2008 4:32am
Quoting abasiakara
hi karmo, i have read through this thread. i have been following your trade calls in the other thread. i have already made blunders that have almost wiped out my account. now i only want to take high probability trades only. at least to shore up my account a little. i have downloaded the indicators for the system you trade as well as the template.
now, i see PA is above gann on 4h but below gann on 1h. QQE is about to cross down on ih ( cross 50 line) but still below 50 line on 4h.but you say bearish continuation? again, there seem to be buying...
ya me too..anyway just play with m1 tp 20pips as market uncertainty...karmo..need your help...

1h/4h is not dance together also good for us for up n down ~ 50 to 100 pips..hehehe....just play m1/m30 lol...

karmo...pls help...did you see something else or got any news...
  • #1,475
  • Nov 18, 2008 5:56am Nov 18, 2008 5:56am
I'm staying out until we break this 4h bear flag

I might try a short from the upper TL of the bear flag but otherwise not trading, price action is not normal lately as well. Price keeps jumping all over the place.
Trade what you see, not what you think.
  • #1,476
  • Nov 18, 2008 6:08am Nov 18, 2008 6:08am
Quoting karmostaji
I'm staying out until we break this 4h bear flag

I might try a short from the upper TL of the bear flag but otherwise not trading, price action is not normal lately as well. Price keeps jumping all over the place.

thanks karmo..will wait 4h break......i may feel in 4 hrs time...hopely
  • #1,477
  • Nov 18, 2008 8:34am Nov 18, 2008 8:34am
Quoting abasiakara
hi karmo, i have read through this thread. i have been following your trade calls in the other thread. i have already made blunders that have almost wiped out my account. now i only want to take high probability trades only. at least to shore up my account a little. i have downloaded the indicators for the system you trade as well as the template.
now, i see PA is above gann on 4h but below gann on 1h. QQE is about to cross down on ih ( cross 50 line) but still below 50 line on 4h.but you say bearish continuation? again, there seem to be buying...
Hey abasiakara, I know what you are going through .. that was my problem for months! Now I am finally figuring out one of the most important lessons: when NOT to trade. And now is that time .. unless you are a confident scalper and/or have some extra play money to play with.
The trick to finding the high probability trades is to WAIT for them to set up properly & do nothing until that happens.
You can take as many of karmo's patience pills as you like while waiting ...
I suggest the candy-flavored ones, keep a bowl by the computer
  • #1,478
  • Nov 18, 2008 8:40am Nov 18, 2008 8:40am
Honestly I would lose money trading yesterday and today, actually I did lose a bit yesterday lol

I suck at scalping and this environment doesn't suite my trading style.

Patience till we get a high possibility trade.
Trade what you see, not what you think.
  • #1,479
  • Nov 18, 2008 4:00pm Nov 18, 2008 4:00pm
We've got a whole bunch of agitated bulls in the other place...

I prefer this just hanging out, munching on chocolate-covered patience pills, watching the 4h/1h for the next good setup......
  • #1,480
  • Nov 19, 2008 12:37am Nov 19, 2008 12:37am
Kindly give me a link for the indicators used in the setup
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