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Tkpower8 ATM

  • #141
  • Edited 4:48am Dec 16, 2008 4:38am | Edited 4:48am
Quoting ubp
TK, the green arrow, is this a trade you would have skipped and waited for a more solid situation, because of the higher low? Thanks

Higher low and start of triangle formation threw me off that one.

I will just say again that I only wait for SOLID setups, there is always 1 or 2 after 8gmt and 14gmt and thats plenty to make a living at this. I miss tons of trades and I exit many trades early but I am consistant and it works for me.

Only you can decide to what level of risk you will go and what times you will/can trade, I am just sharing with you my opinions
  • #142
  • Dec 16, 2008 4:56am Dec 16, 2008 4:56am
One question,

There are bold green lines on my charts with this indicator. It plots them itself. What do they mean and how to turn it off. Maybe just my indi isn't working...
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  • #143
  • Dec 16, 2008 4:57am Dec 16, 2008 4:57am
Quoting tkpower8
This trade you took was not valid for me ... this was not a "by the rules" trade. Here is the only trade I really liked this morning
I hope that this isn't going to be a 'read page one' but, yes I can see your trade all in line with the rules. Why is the other one outside the rules? What are we missing?
  • #144
  • Dec 16, 2008 4:58am Dec 16, 2008 4:58am
Quoting tkpower8
OK I'm back now and I can hang out a bit and relax.

Just 1 trade for me this morning that I really liked.

G/U - 10:36 sold at 1.5262 - collected 50 pips because I like to. (and I forgot to remove my scripts TP, shhh)

No pivots in the way at all, clear road which is my favorite kind for speeding trades
Hi tk...

I actually entered this trade @ 1.5263 and it went up and down a few candles and I pulled the plug on the trade before it took off south and missed out on the 50 pips. My question is, do you set your SL level and just leave the trade run even if price turns against you and takes you out at the SL? I'm not use to looking at 2 min charts so every little movement that has some speed behind it looks like it's going to move 5-6 pips at a time. How do you deal with this issue and not take yourself out of what may be a profitable trade?
  • #145
  • Dec 16, 2008 5:09am Dec 16, 2008 5:09am
Quoting ozziedave
Hi tk...

I actually entered this trade @ 1.5263 and it went up and down a few candles and I pulled the plug on the trade before it took off south and missed out on the 50 pips. My question is, do you set your SL level and just leave the trade run even if price turns against you and takes you out at the SL? I'm not use to looking at 2 min charts so every little movement that has some speed behind it looks like it's going to move 5-6 pips at a time. How do you deal with this issue and not take yourself out of what may be a profitable trade?
There was a moment during this trade where a blue ate a red and I was ready to pull the plug too. I waited to see how the next candle would start out and it was straight down with not even a wick on the top, I just moved my SL to break even and threw on a trailing 25 at that point. I then minimized my MT4, forgetting of course to remove my TP and checked back later to see my trade exited +50, which turned out ot be the best exit possible
  • #146
  • Dec 16, 2008 5:09am Dec 16, 2008 5:09am
Thanks TK, can you tell me what exactly made the trade not valid.

Also this is my current long. I see that I may have been a bit premature as the stoch has not crossed yet,
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  • #147
  • Dec 16, 2008 5:12am Dec 16, 2008 5:12am
Quoting debitel
One question,

There are bold green lines on my charts with this indicator. It plots them itself. What do they mean and how to turn it off. Maybe just my indi isn't working...
I used to go the daily chart and place my own lines of support and resistance. I have since observed that the sdx-pivots are enough and usually end up close to those old green ones anyway.

YOU CAN ALL REMOVE ANY GREEN VERTICAL LINES YOU SEE

or you can remove the sdx-pivots and go to your daily chart to plot your own support and resistance lines. This is up to you
  • #148
  • Dec 16, 2008 5:15am Dec 16, 2008 5:15am
Quoting Phreddy
I hope that this isn't going to be a 'read page one' but, yes I can see your trade all in line with the rules. Why is the other one outside the rules? What are we missing?
The trade on page 9 posted by ubp was not valid for me because I did not see a red eats blue.
  • #149
  • Dec 16, 2008 5:18am Dec 16, 2008 5:18am
Quoting ubp
Thanks TK, can you tell me what exactly made the trade not valid.

Also this is my current long. I see that I may have been a bit premature as the stoch has not crossed yet,
You did jump the gun on the stoch and I do not see a proper blue eats red either

I do consdier the 13:16 candle (+2gmt) a valid buy though on the g/u. Not optimum but a maybe. We had a double bottom off of a pivot line but are not making higher highs. Also its is not the time I trade. Call it a trade you would take if you had already banked a pile of pips
  • #150
  • Dec 16, 2008 5:33am Dec 16, 2008 5:33am
And so the trade I mentioned as it was happening is going OK, in fact safe exit is right now as I type for 12pips

I have been meaning to getto the gym for hours now so I am going to get off my ass now, I'll be trading again at 14gmt and will check the forum at 30 mins before that and then 1-2 hours after that
  • #151
  • Edited 5:36am Dec 16, 2008 5:34am | Edited 5:36am
Quoting tkpower8
The trade on page 9 posted by ubp was not valid for me because I did not see a red eats blue.
Sorry to keep on, it might just be me but to my untutored eye the reds eat all the blue gains.
I checked with your chart on page 1 and saw that the blue started half way up the wick before eating the whole body. What am I missing? What makes the subtle difference?

This doesn't seem to be the way to upload a pic. Any answers please?
Attached Image
  • #152
  • Dec 16, 2008 5:54am Dec 16, 2008 5:54am
My g/u trade. Entry, take 1/2, sl. Gonna take a nap now before next trade zone.
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  • #153
  • Dec 16, 2008 5:55am Dec 16, 2008 5:55am
Quote
Sorry to keep on, it might just be me but to my untutored eye the reds eat all the blue gains.
I checked with your chart on page 1 and saw that the blue started half way up the wick before eating the whole body. What am I missing? What makes the subtle difference?

I think this is what TK8 has in mind. The bull eats bear by 2 pips in the candle immediately following the bear, not after multiple candles. I suppose you could fudge if you really liked the price action etc....If I am mistaken, someone please correct me.
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  • #154
  • Dec 16, 2008 5:56am Dec 16, 2008 5:56am
Quoting tkpower8
And so the trade I mentioned as it was happening is going OK, in fact safe exit is right now as I type for 12pips

I have been meaning to getto the gym for hours now so I am going to get off my ass now, I'll be trading again at 14gmt and will check the forum at 30 mins before that and then 1-2 hours after that
hey TK whats up , im on Interbank and i wanted to check with you if my setup is correct as for the grey zone ,is it supposed to be altered according to the brokers time or my time??as interbank time is 0GMT so i altered them accordingly 06:00-07:59GMT
12:00-13:59GMT
17:00-18:59GMT
22:00-23:59GMT
..thanks man and have fun at the gym
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  • #155
  • Dec 16, 2008 5:57am Dec 16, 2008 5:57am
That would make sense as to why my trades were invalid. TK will maybe clarify this for us.
  • #156
  • Edited 6:23am Dec 16, 2008 6:12am | Edited 6:23am
Quoting ubp
That would make sense as to why my trades were invalid. TK will maybe clarify this for us.
This has been covered in some detail previously. The idea is that the candle gets completely eaten by the next candle. As tkpower8 explained, the rationale is that traders who go in one direction for a period of two minutes are overcome by the traders who go in the opposite direction for the next two minutes. Thus we see if the bulls or bears are strongest measured over the same time period of adjacent candles.
  • #157
  • Dec 16, 2008 6:24am Dec 16, 2008 6:24am
Thanks TK for all your knowledge and help with this stratagy. I work 8 to 5 and cannot use work computers for my own business, for that reason, I trade on my PDA, and use Interbank. The only problem is, I cannot download or install any custom indicators. Do you think I can trade this system with just moving avg. and price action, or have you found in the past any other common indicators that may work ? Thanks again for all your doing !!
  • #158
  • Dec 16, 2008 7:10am Dec 16, 2008 7:10am
Quoting ysewellam
hey TK whats up , im on Interbank and i wanted to check with you if my setup is correct as for the grey zone ,is it supposed to be altered according to the brokers time or my time??as interbank time is 0GMT so i altered them accordingly 06:00-07:59GMT
12:00-13:59GMT
17:00-18:59GMT
22:00-23:59GMT
..thanks man and have fun at the gym
Perfect, looks good to me
  • #159
  • Dec 16, 2008 7:12am Dec 16, 2008 7:12am
Hi TK,
Firstly let me say that your system is really great i have been following it from the time you posted it in Canadian dude's thread,
I have used it aswell with pretty good results about 50/50.

I coundn,t understand why my results weren't as good as yours, then this morning i noticed that the sma lines were very shrap in it's performance. I open the indicators dialog box to find that my dll box was not ticked so i ticked it and it changed the whole line.

Thinking that would be that i thought, about a half hour later i decided to check it again and hey presto it changed the whole line again.

The m2 frame is active for i can see the price movement all the time going up down etc. I wondered if the other indicators would do the same and they also changed alot.

I don't know if it me or my metatrader or has anybody else been having the same problem, this could be the reason why i might not be getting most of the trades like i should.

enclosed is a before and after screen shot of each pair.

If anybody has some suggestions to what i can do to make every tick count i am all ears?

JTH
Attached Image(s) (click to enlarge)
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  • #160
  • Dec 16, 2008 7:12am Dec 16, 2008 7:12am
Quoting mprincehorn
Thanks TK for all your knowledge and help with this stratagy. I work 8 to 5 and cannot use work computers for my own business, for that reason, I trade on my PDA, and use Interbank. The only problem is, I cannot download or install any custom indicators. Do you think I can trade this system with just moving avg. and price action, or have you found in the past any other common indicators that may work ? Thanks again for all your doing !!
Yes, this is the beauty of this mehtod, just throw the 21sma on there and trade the candles. The only reason I have even added any other indicators is to make it easier to see and feel good about trades.
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