Karmo's trading strategy trading GBP/JPY

Thanks! I see how you got that daily TL, I've had it up on my chart, but saw it fairly far off. Keep a close eye on it along with the 4H 50 ema.

As always, I'm thankful to you for sharing you experience and insight!

Got that pullback to 141-ish (140.74), sometimes I surprise myself

Still just observing as I have been on the road, travelling, will probably start trading again today or tomorrow. Now looks like a pb to 138 (convergence of S/R levels & fib) is needed to short again. Or maybe 139 the 4h 50 ema?

While it stays below the daily gann/qqe I still prefer shorting the upward pullbacks, I know our Karmo is morphing into a scalper & works both sides now.

I've been busy managing accounts n trading, that's why I've been posting less.

We already have a 4h candle close below 4h gann, we need a 4h QQE to cross down, we should retest the lows and possible new low's.

We had a weekly retrace to 5sma and also price bounced off the daily TL.

The big picture remains to be bearish.

Dear Karmo,

I've read through your trading method and followed your posts on Auslanco-GBPJPY form. I am intersted in your trading method. Do I need any additional indicators than the ones mentioned in your first post on this forum?

Also, how do you calculate your stop loss?

Thank you

H4 TF QQE just cross to bear signal. Waiting for the new H4 Candle to form to enter positions.

H1 and 15M TF are in alignment Under Gann and QQE crossed bear...

Dear bro karmo

Hi how r u? Happy belated Eid to you. I did not get you when you said busy managing accounts n trading? I thought u r a full time trader? Do u manage forex accounts or what?

regards
Balaji

Hey

I'm good thx, how about yourself? Thanks, same to you.

I'm not a full-time trader, I work for our family business, plus I trade for myself and I do manage forex accounts.

Dear bro karmo

Thanks for ur reply. I am doing good in life except forex. The problem is I do not have spare time to concentrate on forex hence was looking for someone to handle it as a managed account. Can u let me know on your terms and conditions for the managed account like the account size, broker, profit sharing ratio since I would love you to handle for me the managed account. Take care and god bless
Balaji

WE have had a nice run to the upside, which I can't explain, but we have hit some major pivot/fib levels. Could this thing be turning around now, that 138.56 has been it. Any Thought Karmo?

IMO this could be the turning point, I'm gonna wait until the 15m QQE crosses down and we get a candle formed below 15m gann, just to feel safer lol, even though the past 2 days this beast has done whatever it wants n didn't respect no indicator nor anything else LOL

That sounds like not only an Excellent Plan, but a Safe one as well. I will follow your lead on this one. I am watching it very closely. These pass couple of days have been a little frustrating.

If the Daily Gann and S/R level 138.50 should meet, we could see more down side. (imo) They may be close enough already to see some down side.

Karmo, I am in a short on GBP/JPY Entry 138.02, how low do you think this thing will Go?


You think we will hit the 134 Area?

As long as price remains below daily gann (139), the pressure is to the downside

Now above Daily Gann, 135.30, and rising... QQE still hasn't crossed up on D.

H1 and H4 still below Gann and crossed down...M30, M15, M5 pointing up....

Need them to line up.... like shooting ducks!

Happy New Year Karmo, Hope you had an awesome christmas. What's your thoughts on GBP/JPY?

And... he is right again!

Listen to Uncle Karmo in '09
And you'll do just fine!

HAPPY NEW YEAR TO ALL!

hello everybody and happy new year, hope everybody will do just fine, and thank you TraderStar

so, have we bottomed? finally?

happy new year guys, and many more pips in year 2009.

here's the same old Auslance EA (first introduced by Godfreyh) with few things added and some bugs fixed,

Added:
1. Divergence filter

2. Max bar length allowed based on calculating the average moves for the currenct season for the last x days but we have allowed the user to choose the deviation like max = average*deviation, so if diviation is 2 then the max length is twice as the average.

3. we have added automated-optimization for QQE and GanHiLo parameters so that the parameters are changed according to the market conditions.

in order to set up the automated-optimization you must do the following steps:

1. "copy" the terminal folder that includes the compiled EA to another location on your drive, and then run your "original" terminal, click on expert properties and set the settings as listen in the attached picture.

2. from expert properties check the variables to be optimized with their intervals and save the file in name QQE.set in your original terminal folder

3. do the pre-optimization once and calculate the time needed for optimization to enter it in the settings.

for further information see http://articles.mql4.com/506

fixed:

1. at least one type of lot size types must be chosen
2. if money management is true then ignore manual lot size.
3. the last peark/bottom price-bar and last peak/bottom of indicator can be different (in case there was a divergence in the last peak, specially when using long periods)

this is all i can think of, due to depending on lagging indicator, it just keeps failing in traps or false spikes, so "in case" there's a further development it will be on volume and spread.

comment: automated optimization will not function while using pre-optimization (normal optimization) or while backtesting, it will only function when using it live on real or demo account. hence the attached picture represents the results without automated-optimization.