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Tkpower8 ATM

  • #21
  • Dec 15, 2008 5:16am Dec 15, 2008 5:16am
Hey guys,

Sorry to dilute this thread with tech garbage... but after ive got my 2 min chart working fine, i try to load the 2min template (or any of the templates provided) and a critical error occurs and my MT4 crashes... cant get round this. Any advice will be much appreciated...

Cheers,
MM
"If it bleeds ... we can kill it"
  • #22
  • Dec 15, 2008 5:36am Dec 15, 2008 5:36am
I have been trading a fairly similar way for a while now with success using a 3 min chart instead of a 2 min - basically the only difference, I have not paid attention to candle formations much so I get something new to look for - thank you, my addition is when a doji shows up - I will enter 2 pips below or above the doji depending on the direction of the sma, If price breaks the doji by 2 pips in the opposite direction, I take the trade off the table.
I make money anywhere in the world by taking orders
  • #23
  • Dec 15, 2008 5:38am Dec 15, 2008 5:38am
Great! The thread I'm longing for has started! I must say thanks b4 reading it!
  • #24
  • Dec 15, 2008 6:14am Dec 15, 2008 6:14am
Tk,
Very nice work! Thank you.
  • #25
  • Dec 15, 2008 6:18am Dec 15, 2008 6:18am
TK8

Can you explain how Pivot Points can be believed/trusted?

Yours will be set to start at your midnight ie +2gmt whereas mine (UK based with Interbank charts) will start at 0gmt.
We are applying them to the same price charts (more or less) at the same time >08gmt and >1400gmt but our PP lines are different.
There is the issue too, of Monday PP lines which may use sparse or non-existant Sunday data?
(There are also several different methods of calculating PPs but not elevent here as I'm using SDX ones too)

It's because of this I've never been a fan of PPs.
I'd appreciate your thoughts on this. Do you rely on them a lot - do they play a significant part in you trading?

rorieu

PS Thanks for an excellent thread and amazing examples of the method on the charts this morning.
PS2 Were you using this method (and the M1 one) before the financial 'turmoils' started?
  • #26
  • Dec 15, 2008 6:26am Dec 15, 2008 6:26am
Hi tk8!

Nice to see you've opened a thread about your setup, I use it on 1m timeframes to help me fine tune entries and sl's, very effective!

I've made over 30 trades in the last 3 days, only two hit the stop loss.

I'll be a regular reader here for sure, if something pops up i'll drop in a line

You deserve the best, keep the pips flowing!
Traders are smartasses
  • #27
  • Dec 15, 2008 6:38am Dec 15, 2008 6:38am
Quoting rorieu
TK8

Can you explain how Pivot Points can be believed/trusted?

Yours will be set to start at your midnight ie +2gmt whereas mine (UK based with Interbank charts) will start at 0gmt.
We are applying them to the same price charts (more or less) at the same time >08gmt and >1400gmt but our PP lines are different.
There is the issue too, of Monday PP lines which may use sparse or non-existant Sunday data?
(There are also several different methods of calculating PPs but not elevent here as I'm using SDX ones too)

It's because of this I've...

Thanks for all your nice comments to start with.

About the PP's, I do not rely on them persay but I am mindful of them and watch how price acts around them. They also can help with exits if there are a couple close together and price shows you that it is having a hard time getting thorugh.

My pivot points are set to start at 00GMT, NOT +2gmt. There is a setting for this in the sdx-pivots indi.

I have traded this for 6 months.
  • #28
  • Dec 15, 2008 6:41am Dec 15, 2008 6:41am
Quoting SedonaPipper
I have been trading a fairly similar way for a while now with success using a 3 min chart instead of a 2 min - basically the only difference, I have not paid attention to candle formations much so I get something new to look for - thank you, my addition is when a doji shows up - I will enter 2 pips below or above the doji depending on the direction of the sma, If price breaks the doji by 2 pips in the opposite direction, I take the trade off the table.
Thanks fo your input.

I too like doji's, my rule there is if more than 60% of the candle itself has been eaten by itself in favor of my direction. I did not want to get into that at the start of this thread but was thinking to add it later once people had got the idea of the straight forward setups.

Thanks again for your input, nice to see others on the same page.
  • #29
  • Dec 15, 2008 7:20am Dec 15, 2008 7:20am
Hi TK-

Just wanted to drop some kudos here. Your system is well thought out! You back it up with not only an excelent explanation but also validation of having used it on a real account prividing real time examples.

For those if you who are following this system, my suggestion is this:

Do not attempt to make major modifications to it but rather small ones to suite your trading temperment and... (this is a big one)

DO NOT RUN AWAY FROM THE SYSTEM AFTER IT HS A LOSING TRADE!!!

Sorry for the all caps but it must be emphasized that any and all systems will have losing trades. Give this a fare shake and learn to become disciplned. That discipline will turn into confidence and confidence will turn you into a profitable trader.

Good luck with the thread TK

All the best and happy holidays
Vick
Nothing is impossible, with a willing mind!
  • #30
  • Dec 15, 2008 7:22am Dec 15, 2008 7:22am
Efgaristo TK, that is an excellent piece of work. I do like the idea of eating candles, very picturesque.

For the present I an in Malaysia so about 6 hours in front of you. I shall watch the indicators etc for correction.

Come April, I will be in your time-zone when I return to Bulgaria so no probs then.

For the moment however I need to ask how one gets a two minute chart. I use Meta Trader and have a choice of either 1min or 5min. Any thoughts or do I need to use your broker and another platform?

Thanks again for the chance to use your brain-child.
  • #31
  • Dec 15, 2008 7:33am Dec 15, 2008 7:33am
Quoting Trader_V
Hi TK-

Just wanted to drop some kudos here. Your system is well thought out! You back it up with not only an excelent explanation but also validation of having used it on a real account prividing real time examples.

For those if you who are following this system, my suggestion is this:

Do not attempt to make major modifications to it but rather small ones to suite your trading temperment and... (this is a big one)

DO NOT RUN AWAY FROM THE SYSTEM AFTER IT HS A LOSING TRADE!!!

Sorry for the all caps but it must be emphasized that any and...
Thanks for your kind words and great advise to everyone. Make sure you read what Vick has written here, his words are on the money.
  • #32
  • Dec 15, 2008 7:37am Dec 15, 2008 7:37am
Quoting Phreddy
Efgaristo TK, that is an excellent piece of work. I do like the idea of eating candles, very picturesque.

For the present I an in Malaysia so about 6 hours in front of you. I shall watch the indicators etc for correction.

Come April, I will be in your time-zone when I return to Bulgaria so no probs then.

For the moment however I need to ask how one gets a two minute chart. I use Meta Trader and have a choice of either 1min or 5min. Any thoughts or do I need to use your broker and another platform?

Thanks again for the chance to use your...
Hi Phreddy,

Open an M1 chart and load the template "M1forM2", then goto file>open offline and you will see your M2. Open that and then load the M2 template.

I have added this to the first post so do please re and re-read it everyone. Most of the answers are there and I will be updating it as I get questions.

On a trading note, its 13:30gmt and my charts are open again. This gives me 30mins to get my head in gear and prepare for 14gmt trades. I will only be taking the perfect of perfect setups though since I already banked 100pips this morning. I do the same thing in the morning btw, charts open at 07:30gmt, 30 mins to get head straight for 08gmt trades.
  • #33
  • Edited 8:00am Dec 15, 2008 7:56am | Edited 8:00am
Great thread TK.

The following is not using TK's chart template - but is using the indicator he uses.

1. You need Period_converter_opt.mq4 indicator

2. Open up a 1 minute chart

3. Drop Period_converter_opt.mq4 indicator on the 1 minute chart

4. In the settings for Period_converter_opt.mq4 you need to set the following

a) "Common" tab -- tick "Allow DLL imports"

b) "Inputs" tab -- "PeriodMultiplier" = 2 ( 3 if you want 3 minutes )

5. Now go into the main metatrader menu - "File" -- "Open Offline"

6. There will be a list of currency pairs with their timeframes e.g. "EURUSD,M2" - The "M2" denotes that it is a "2 minute" chart, highlight the relevant pair and click "Open"

You should now have 2 charts -- a regular one ending with "M1" and a less familiar one ending with "M2 (offline)"
  • #34
  • Dec 15, 2008 8:28am Dec 15, 2008 8:28am
Hi TK..

I've been wading through the Fxprime and Fx 50 thread trying to figure out what combination of MAs and indicators to use for my 1M and 5M charts. Your methodology and explanation has prompted me to put that other info aside and try out your system without modification. Can you explain how you use the indicator in particular the Stoch within the CCI filter. I see you also have the sidewinder on your chart. Are you using it and if so, what are you looking for before you place a trade?

Again..thanks for posting your system.
  • #35
  • Dec 15, 2008 8:38am Dec 15, 2008 8:38am
Quoting tkpower8
Your right, I did no mention how to do this. I will add it to the 1st post but for now; Load the M1 template onto the M1 chart of the pair you have chosen. Then go to file>open offline and choose the M2 that you will see for your pair. The chart will open and you load the M2 template onto it.
i need cci filter indi +stoch%20 triple thankx
  • #36
  • Dec 15, 2008 8:48am Dec 15, 2008 8:48am
Please see the 1st post for indicators, rules, templates and scripts
  • #37
  • Dec 15, 2008 8:51am Dec 15, 2008 8:51am
The e/j just stopped me out with close to 30pips profit

Attached Image (click to enlarge)
Click to Enlarge Name: m2-12.gif Size: 29 KB


I'm still in my g/u, will post that when I'm done
  • #38
  • Dec 15, 2008 9:03am Dec 15, 2008 9:03am
Quoting tkpower8
Hi Phreddy,

Open an M1 chart and load the template "M1forM2", then goto file>open offline and you will see your M2. Open that and then load the M2 template.

I have added this to the first post so do please re and re-read it everyone. Most of the answers are there and I will be updating it as I get questions.
My apologies, I did read it but with my inexperience, did not understand it. I thought that it was a 2min template to go on a 2min chart (that the platform already had). I have posted this incase someone else has the same notion.
  • #39
  • Dec 15, 2008 9:07am Dec 15, 2008 9:07am
Thats it for me then, a well above average day without loss.

Attached Image (click to enlarge)
Click to Enlarge Name: m2-13.gif Size: 25 KB


That should definately be enough for examples, I have posted 1 day of trades for me, today there were 5 I took. All are posted in these first few pages. I will now wait for a loss and post that and we should be good.

Days results for me are over 200pips but there was an easy 500pips if you worked this all day on the 2 pairs. I dont see the point myself, a few hours is enough time to be staring at candles.
  • #40
  • Dec 15, 2008 9:11am Dec 15, 2008 9:11am
Notice how the e/j and g/u were moving in sync for these 2 trades. My favorite
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