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Tkpower8 ATM

  • #101
  • Dec 15, 2008 6:58pm Dec 15, 2008 6:58pm
Quoting Dazzer
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
Thanks Dazzer.

Quoting dan55
My target on GU short is 1.5235.
Quoting dan55
Thanks 4FXsake;
I'm having free ride on this short now. Will leave it open for my target.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu from dan55 entry2.gif Size: 33 KB
Click to Enlarge Name: gu from dan55 target.gif Size: 28 KB
  • #102
  • Dec 15, 2008 7:11pm Dec 15, 2008 7:11pm
Quoting Dazzer
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
Looking at the chart in the first post it would appear that it is the wick of the candle that counts for entry.
  • #103
  • Dec 15, 2008 7:24pm Dec 15, 2008 7:24pm
Would just the break of the second bear candle be a solid long, or would both the first and the second need to be gobbled up.

Thanks
Attached Image (click to enlarge)
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  • #104
  • Dec 15, 2008 7:30pm Dec 15, 2008 7:30pm
My current long trade.
Analysis: 1- Second trade after the cross. 2- cci blue. 3- stoch +40
Attached Image (click to enlarge)
Click to Enlarge Name: t84.gif Size: 38 KB
  • #105
  • Dec 15, 2008 7:47pm Dec 15, 2008 7:47pm
Quote
Would just the break of the second bear candle be a solid long, or would both the first and the second need to be gobbled up.

Unless I misunderstood the first post, it just has to "eat" the preceding bear candle to be a valid long trade. It looks like it was a good trade to me. I took it for 19 pips (demo). Maybe when TK8 gets back he'll provide some input....
Attached Image (click to enlarge)
Click to Enlarge Name: 12-15-08 ej-tk8 long.gif Size: 30 KB
  • #106
  • Dec 15, 2008 7:50pm Dec 15, 2008 7:50pm
Excellent thread tk, I'm glad you started it. There seems to be some entries on your charts that you posted that I would of taken. For example. I would of taken the circled trade in the chart below. 21SMA is red, after this relatively large blue candle retracement, the next red candle would have exceeded it by over two pips. Seems close enough to the sma as well all things considered. (I think this is a loss, with a 3 pip spread I reckon the stop loss would just about get taken out here which would funnily enough be at around the same stop loss line of the marked trade you'd drawn coincidentally.) Could you explain the reasons why this isn't a trade and what would stop you leaping in at that earlier point.
Attached Image (click to enlarge)
Click to Enlarge Name: gu-m2-102.gif Size: 29 KB
  • #107
  • Dec 15, 2008 7:57pm Dec 15, 2008 7:57pm
Just took 1/2 off the table, making essentially a free trade even if it hits my stop.
Attached Image (click to enlarge)
Click to Enlarge Name: t85.gif Size: 29 KB
  • #108
  • Dec 15, 2008 8:00pm Dec 15, 2008 8:00pm
Quoting ubp
Just took 1/2 off the table, making essentially a free trade even if it hits my stop.
I think its headed for 124.39
  • #109
  • Dec 15, 2008 8:18pm Dec 15, 2008 8:18pm
Stopped out. Maybe time to look for shorts. Tk, if you could please critique my trade that would be helpful to us all. Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: t86 12-15.gif Size: 35 KB
  • #110
  • Dec 15, 2008 8:22pm Dec 15, 2008 8:22pm
I know that it would be of benefit for me as well as an encouragement!
TEX


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
  • #111
  • Dec 15, 2008 8:46pm Dec 15, 2008 8:46pm
Here's some Tkpower8's posts from a previous thread that have helped me understand this method:

http://www.forexfactory.com/showpost...&postcount=105

http://www.forexfactory.com/showpost...&postcount=132

http://www.forexfactory.com/showpost...&postcount=139

http://www.forexfactory.com/showpost...&postcount=144

http://www.forexfactory.com/showpost...&postcount=156

http://www.forexfactory.com/showpost...&postcount=229

http://www.forexfactory.com/showpost...&postcount=243

http://www.forexfactory.com/showpost...&postcount=279

http://www.forexfactory.com/showpost...&postcount=420

http://www.forexfactory.com/showpost...&postcount=466

http://www.forexfactory.com/showpost...&postcount=232
  • #112
  • Dec 15, 2008 10:17pm Dec 15, 2008 10:17pm
ok. i've tested this on a demo account and and it works great.

traded live for three trades for profit. that's good.

first, the stop loss is too narrow. On a demo my stop was hit early due to a blip in price, but my limit was reached after i've been stopped out. I think you need larger stops, especially on this currency pair. 15-20 is my stop.

second, I use the moving ave as a trailing stop.

looks good so far.
  • #113
  • Dec 16, 2008 12:06am Dec 16, 2008 12:06am
Hi TK...

Are you concerned with the longer term trends on higher time frames, lets say 1 hour and above? Do you ever look for trend alignment with 5 or 15 minute trends when you trade on 1 or 2 M charts?
  • #114
  • Dec 16, 2008 12:57am Dec 16, 2008 12:57am
Hi guys,
Thanks to Tk for starting this thread. I have a little problem, everytime i try to load any of the templates on my mt4 it crashes! I don't know whats wrong but could someone please list out the individual indicators on the template so i can load them 1 by 1 and see whether i can get it to work that way.
Also could someone tell me why it crashes like that.

Thanks alot,
Pipsot.
10 pips a day keeps the blues away!!
  • #115
  • Dec 16, 2008 1:12am Dec 16, 2008 1:12am
Pipsot,

Here are the associated indicators.
Attached File(s)
File Type: mq4 CCIFilter%20vX[1].mq4   6 KB | 561 downloads
File Type: mq4 MAColor.mq4   4 KB | 554 downloads
File Type: mq4 Stochastic%20triple[1].mq4   2 KB | 534 downloads
File Type: mq4 Period_Converter_Opt.mq4   15 KB | 514 downloads
File Type: ex4 ant-GUBreakout_V.0.4.1.ex4   13 KB | 388 downloads
File Type: ex4 ant-GUBreakout_V.0.4.1-2.ex4   13 KB | 426 downloads
File Type: ex4 ant-GUBreakout_V.0.4.1-3.ex4   13 KB | 457 downloads
  • #116
  • Edited 1:20am Dec 16, 2008 1:18am | Edited 1:20am
I have attached the list of indicators as well as the templates that I use. You have the option of black or white templates.

I hope this helps you solve your problem.
Attached Image (click to enlarge)
Click to Enlarge Name: chart2.gif Size: 20 KB
Attached Image
Attached File(s)
File Type: tpl tkpowerwhite1.tpl   26 KB | 461 downloads
File Type: tpl tkpowerblack.tpl   125 KB | 507 downloads
File Type: ex4 ant-GUBreakout_V.0.4.1-4.ex4   13 KB | 429 downloads
  • #117
  • Dec 16, 2008 1:45am Dec 16, 2008 1:45am
Quoting deepblue27
Excellent thread tk, I'm glad you started it. There seems to be some entries on your charts that you posted that I would of taken. For example. I would of taken the circled trade in the chart below. 21SMA is red, after this relatively large blue candle retracement, the next red candle would have exceeded it by over two pips. Seems close enough to the sma as well all things considered. (I think this is a loss, with a 3 pip spread I reckon the stop loss would just about get taken out here which would funnily enough be at around the same stop...
The reason I had stayed out of that was that the g/u was choppy, it was only a few minutes later that the trade you had circled became an obvious to the eye lower low and confirmed to me that a direction was chosen due to the lower high we had just made also. I then took my next setup which happened to work out perfectly.

If you did take that trade though you would have had a small loss but as lond as you took the next trade you would have gotten it all back and more so either way you end up positive
  • #118
  • Dec 16, 2008 1:47am Dec 16, 2008 1:47am
Trade guru thanks for the template but it still crashes, i've isolated it to the breakout indicator as the cause of the crash, could i get a template without the breakout indicators.

Also what can i do about the breakout indicators how important are they?

Thanks,
Pipsot!
10 pips a day keeps the blues away!!
  • #119
  • Dec 16, 2008 1:48am Dec 16, 2008 1:48am
Quoting sed34
ok. i've tested this on a demo account and and it works great.

traded live for three trades for profit. that's good.

first, the stop loss is too narrow. On a demo my stop was hit early due to a blip in price, but my limit was reached after i've been stopped out. I think you need larger stops, especially on this currency pair. 15-20 is my stop.

second, I use the moving ave as a trailing stop.

looks good so far.
The moving average is a nice place for the SL I agree. If you feel it is too close you can use that. ie. if the candle eats candle setup has a SL of 8 pips or soemthing tiny liek that then it is always best to move it a bit further to either then SMA or recent swing high/low
  • #120
  • Dec 16, 2008 1:49am Dec 16, 2008 1:49am
Quoting ozziedave
Hi TK...

Are you concerned with the longer term trends on higher time frames, lets say 1 hour and above? Do you ever look for trend alignment with 5 or 15 minute trends when you trade on 1 or 2 M charts?
I don't like flipping between charts so NO. Some of the trades are scalps anyway so if you keep your eye on price action and don't get greedy you can take some pips from any move
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