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Tkpower8 ATM

  • #81
  • Dec 15, 2008 12:14pm Dec 15, 2008 12:14pm
Quoting smalldragon
Hi, TK
Thanks for your hard work and willing to spend so much time to us.

I got one question that i am looking for help about the SDX-TzPivots.
You said that you are in the GMT+2.00 zone area and the SDX-TzPivots setting in your template are
local time zone = 2
desk time zone = 0
line style = 2

But i am in GMT+8.00 zone area, so is that mean i have to change the setting of the local time zone to 8 or just do nothing on it??
My metatrader time is GMT+0.00.

Thanks for you guys that are willing to help me.
Thanks v much.
local time zone = 0 for you then

The sdx-pivots have a vertical line for where they consider the days start at. Just make sure that vertical line is at 00gmt
  • #82
  • Dec 15, 2008 12:33pm Dec 15, 2008 12:33pm
Hello TK,

Do you have any guidelines for the the situations where things are looking good and a Bull is eating a Bear ( or vice versa ) and the 2 minutes runs out a little before the bull candle gets to the entry point but the following Bull candle continues on and makes it to the entry point...
  • #83
  • Dec 15, 2008 12:39pm Dec 15, 2008 12:39pm
Quoting scottyboy
Hello TK,

Do you have any guidelines for the the situations where things are looking good and a Bull is eating a Bear ( or vice versa ) and the 2 minutes runs out a little before the bull candle gets to the entry point but the following Bull candle continues on and makes it to the entry point...
Thats not an easy one really, I guess I'll have to say just check how steep the line is, how many waves up movement we have had in that direction, and how close it happens to the 21SMA. Finally, make sure it was a 3-5 bar pullback.

Some or all of those factors can help you make your decision, I personally don't take anything other than a solid signalled trade. There are always plenty
  • #84
  • Dec 15, 2008 12:59pm Dec 15, 2008 12:59pm
I'd just like to say; great 1st day with this thread everyone. I have enjoyed it. The weather is a bit crappy today so I was around much more than usual and kept up with all the questions. Some were excellent and some were answered in post 1 but I saw that coming.

This is an incredibly simple system, it doesn't get much easier. I am sure that many of you have this down already. If you can help answer questions I would greatly appreciate it. (some of you already took that initiative, thanks)

I have some plans that involve videos of both walking through the days trades and commenting about them and what I would have done, also, videos of live trades and voicing my thoughts as I get in and out of them. I figure that will eliminate nealry all questions and we can all just get on with making money. I'll put a small website together to house all this and keep you posted as we grow this thread.

I WILL NOT BE CHARGING ANYTHING FOR ANYTHING EVER and I WILL NOT BE MAKING ANY MAGICAL INDICATORS, we simply don't need them.
  • #85
  • Dec 15, 2008 1:06pm Dec 15, 2008 1:06pm
Quoting tkpower8
I'm going to answer this one because it is a good question but I will be adding this answer into post 1 also. Thanks for asking something that has not been clearly anwered anywhere.

Think of it this way, the larger the timeframe, the more pips each candle is on average. Therefore as we increase the timeframe the bigger the SL gets. If we go to M1 we will get into many good trades but have many false signals and its harder to weed through them. Increasing to the M2 significantly decreases the ratio of false signals to good trades and does not make...
A good point.

Just my experience with 2 minute charts:
There are far less people trading 2 minute charts than 1 or 5 minute charts.
That means:
Not so much stop-hunting by market makers or similar
but
psychological levels like Fibos, Support/Resistance... which are self-fuelled (the traders make them stronger, because they know that other traders will buy/sell at this levels) are much weaker.

BTW, a good strategy!
And it seems that you are a real trader, not just one that posts for 'feeling like Soros'.
  • #86
  • Dec 15, 2008 1:22pm Dec 15, 2008 1:22pm
Quoting tkpower8
I'd just like to say; great 1st day with this thread everyone. I have enjoyed it. The weather is a bit crappy today so I was around much more than usual and kept up with all the questions. Some were excellent and some were answered in post 1 but I saw that coming.

This is an incredibly simple system, it doesn't get much easier. I am sure that many of you have this down already. If you can help answer questions I would greatly appreciate it. (some of you already took that initiative, thanks)

I have some plans that involve videos of both walking...
Thanks for all you're doing...and for what you're planning on doing!!!
  • #87
  • Dec 15, 2008 1:33pm Dec 15, 2008 1:33pm
Quoting tkpower8
I'd just like to say; great 1st day with this thread everyone. I have enjoyed it. The weather is a bit crappy today so I was around much more than usual and kept up with all the questions. Some were excellent and some were answered in post 1 but I saw that coming.

This is an incredibly simple system, it doesn't get much easier. I am sure that many of you have this down already. If you can help answer questions I would greatly appreciate it. (some of you already took that initiative, thanks)

I have some plans that involve videos of both walking...

Thank you for your kindness...........
  • #88
  • Dec 15, 2008 1:49pm Dec 15, 2008 1:49pm
TKpower, nice start to what will be a long thread. Have just finished reading it, printed some of the pages, and now to get it down pat. What caught my eye was your comment on page 1 "I now trade 2-3 hours aday max and it is my only form of income." That's what I'm looking to do. Like you, I've been spending many hours every day and night on different systems. Am in a different time zone, but trades after 14:00 GMT will work just fine for me. Thanks for your efforts in putting this thread together.
  • #89
  • Dec 15, 2008 3:07pm Dec 15, 2008 3:07pm
I believe this is actually 1000% better than fxprime. And fxprime is a great system. Thanks for the share! I actually feel less stress when trading this system.
  • #90
  • Dec 15, 2008 3:36pm Dec 15, 2008 3:36pm
[quote=tkpower8;2419855].....................
I have some plans that involve videos of both walking through the days trades and commenting about them and what I would have done, also, videos of live trades and voicing my thoughts as I get in and out of them. I figure that will eliminate nealry all questions and we can all just get on with making money. I'll put a small website together to house all this and keep you posted as we grow this thread.

tkpower8,

Many thanks for your system and your plans to help others, they say a picture paints a thousand words, your videos will paint millions.

I am looking forward to your live trade videos and website.
  • #91
  • Dec 15, 2008 4:03pm Dec 15, 2008 4:03pm
Hi There Tkpower8,

Just wanted to say I was really impressed with your 1st post! The fact that you started 1 year ago, applied what you learned with countless hours of study, and are already trading full time as your main source of income is an impressive accomplishment! You should be very proud of yourself.

You've got a sound methodology which shows the careful thought and research you've put into this to make it work. Very well done!! Take Care....T-Wolf
  • #92
  • Dec 15, 2008 4:31pm Dec 15, 2008 4:31pm
hello Tkpower8, great thing you are doing here, I have been reading your pos and trading your 1 min template before.

I will try this one too, but here is my first question:

On the picture attached, do you consider 2 candle as eating as well, or must it be the first candle after the opposite one. Just look at the chart I have marked it with arrow.

Thanks for replay, looking forward to see this work.
Attached Image (click to enlarge)
Click to Enlarge Name: Image-0012.jpg Size: 102 KB
  • #93
  • Dec 15, 2008 5:36pm Dec 15, 2008 5:36pm
Quoting dan55
I'm short here...
Hi Dan,

That was a good trade. Can you tell me the exact time GMT+1 that you took that trade?

Thanks and well done for having the balls to post live trades.

Daz
  • #94
  • Dec 15, 2008 5:45pm Dec 15, 2008 5:45pm
Quoting teckmax
Thank you so much tk8!

I'm starting to trade this method live in my real account tomorrow and I think it would be beneficial to all (including myself) to post my first 20 or so live trades for critiques.

If any of you would be interested in watching one trader master this method in a real account, please let me know.

I would post wins & losses daily for all to see and comment on as a learning experience for everyone. I "think" this would help people, but if you guys think it's a waste of time, please let me know.

Thanks
I'm certainly interested.
All the best

Daz
  • #95
  • Dec 15, 2008 5:51pm Dec 15, 2008 5:51pm
TK, thanks for the terrific system! I echo paradoxical's sentiments exactly: I've been studying my ass off for the past 100 days or so, this is the best system I've seen since then, and I hope to go live by February.

To anyone:

Guys, I've got my charts up and running, but I'm not perfectly clear on every parameter setting. Any help would be much appreciated:

1. I've got all 4 breakout's set according to TK's instructions.
2. The tzpivots are set to "0" since I am in the EST time zone of the USA and my broker is Alpari set to GMT.

I think that's all OK so far (if not please correct me)...

3. What about the newsreader settings? Are they set to default for GMT, or must each individual setting be done manually? If manually, what exactly are my settings supposed to be?

4. Have I missed anything?

Thanks guys, and thanks again to TK. Great stuff!
" Average traders look to the left, great traders look to the right."
  • #96
  • Dec 15, 2008 5:53pm Dec 15, 2008 5:53pm
"I WILL NOT BE CHARGING ANYTHING FOR ANYTHING EVER and I WILL NOT BE MAKING ANY MAGICAL INDICATORS, we simply don't need them."

You just saved yourself and us all from a ton of useless post. Thank you so much as I could feel the gremlins of the forum world looking for a reason. This is an excellent start to what I am sure will become an awesome thread. Plan to participate as much as I can.

Thanks

P.S. You are the first fx trader that I have come across that uses a 2 min chart. That level of thinking out the box already sets this thread apart.

  • #97
  • Dec 15, 2008 5:57pm Dec 15, 2008 5:57pm
Is the grey box and dotted lines on the 2 minute chart automatically generated by the trading software?
  • #98
  • Dec 15, 2008 6:05pm Dec 15, 2008 6:05pm
Quote
Is the grey box and dotted lines on the 2 minute chart automatically generated by the trading software?

If I'm not mistaken I think the boxes are part of the ant-breakout indis, and the dotted lines are the pivots indi. Both are automatically generated...
  • #99
  • Dec 15, 2008 6:21pm Dec 15, 2008 6:21pm
Thanks deepsouth
  • #100
  • Dec 15, 2008 6:27pm Dec 15, 2008 6:27pm
Quoting tkpower8
I will start this all off with hopes of keeping at bay any negative comments or BS of any kind. I am here to try and help anyone that my method works for and I want nothing in return. I feel no need to prove anything to anyone. It may or may not work for your personality. Only you can decide that part, it is fast, and the trades are sometimes scalps but sometimes lengthy. Whatever the market gives you in that department. I Use the M2 for what I am about to outline.

[font=Calibri][size=3]I am not a long time...

Thanks for a great system!

I would just like to clarify candles eating candles. Would this be an engulfing pattern (where the next real body "engulfs" the previous real body) or does it mean it has to "eat" the wicks too? In other words, do we put the buy/sell order 2 pips past the high/low of the previous session which yields all set-up criteria?

Apologies if this is a stupid question
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