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Tkpower8 ATM

  • #241
  • Dec 16, 2008 4:24pm Dec 16, 2008 4:24pm
Quoting ozziedave
Hi Folks..

I'm going to get on my soap box for a few minutes here in regards to the types of questions that people are asking Tkpower8.

First off, realise that if you are not using the same broker as Tk then there is a good chance that the candles on your chart will not be exactly the same as Tk's. So why would any one ask Tk to look at there chart and compare it to his chart? The rule for entry on the candle is bull eating bear or bear eating bull +2 pips. So you should be able to look at your own chart and determine if that has happened on...
Thank you for telling me, you are so kind!

I just asked a simple question and I know how to google stuff. I just couldn't find the answer, so I asked.

Instead of being a SMART ass you could just offer your help. Simple

As I understand the thread is ment for help, learning, teaching and showing, so to do that, we need questions. If you want to help TKpower8, you answer them instead of him, like me and others do, if we know the answers.

P.S.:read before you write, I told folks here that Alpari live feed has different candles than FXPro live feed(if somebody was looking at the same charts). That is why I asked TKpower8 to check the candles. Sometimes you need to change feed to get same results, but I am sure you know all of this...
  • #242
  • Dec 16, 2008 4:38pm Dec 16, 2008 4:38pm
Hi TK,

Any valuable tips of how I could use this method on the 5min TF.

Thanks
  • #243
  • Dec 16, 2008 5:10pm Dec 16, 2008 5:10pm
If you have grasped this method and no longer need the cci or colored sma line, here is a simpler template

I am convinced this is a very unusual thread...usually at this point in most developing threads, MORE indicators are being added each day.

Congratulations for keeping this thread focused on the ultimate indicator...price action.
  • #244
  • Edited 6:10pm Dec 16, 2008 5:57pm | Edited 6:10pm
Quoting debitel
Thank you for telling me, you are so kind!

I just asked a simple question and I know how to google stuff. I just couldn't find the answer, so I asked.

Instead of being a SMART ass you could just offer your help. Simple

As I understand the thread is ment for help, learning, teaching and showing, so to do that, we need questions. If you want to help TKpower8, you answer them instead of him, like me and others do, if we know the answers.

P.S.:read before you write, I told folks here that Alpari live feed has different candles than FXPro live...
Debitel...


My post wasn't to insult you or any one asking questions. It was to point out that alot of these questions have either been answered or you could actually do some research and figure it out for yourself.

In your case you asked tk to compare the candles on your chart with the candles on his chart. I am not sure what you are going to learn from that excerise. Now if you ask him to take a look at your chart and give you some feedback on your trade set up, well, that's a different question.

My point is....every one wants the answers placed on a silver platter for them and they abuse the good nature of people like Tk by asking the same types of questions over and over again until they get sick and tired of answering the same questions and just stop posting. I for one would like to see people like Tk stick around for awhile and continue to be a resource for the traders on his thread.

I'm sorry if you took offense to my post, I am more than willing to answer questions and help out where I can.
  • #245
  • Dec 16, 2008 7:08pm Dec 16, 2008 7:08pm
Quoting jmf0805
If you have grasped this method and no longer need the cci or colored sma line, here is a simpler template

I am convinced this is a very unusual thread...usually at this point in most developing threads, MORE indicators are being added each day.

Congratulations for keeping this thread focused on the ultimate indicator...price action.
Let's all make an effort to keep this thread as original as possible. TK's method is simple and has proven it's effectiveness.
  • #246
  • Edited 8:45pm Dec 16, 2008 7:13pm | Edited 8:45pm
Quoting tkpower8
I can only agree with you there. My formatting is crap. I do not have the patience for making it look right but it will be sorted out very soon by someone who does. I imagine by next week it will be bolded, oulined, emphasized and whatever else is needed.
Hi TK, I have done that for my own needs (only formatted not altered the text) and would be happy to send it to you for your use. I would also be happy to update it as required.

I think that 'bar eating' is pivotal and needs to be spelt out for people like myself, so I have added that!
  • #247
  • Dec 16, 2008 7:18pm Dec 16, 2008 7:18pm
Quoting Phreddy
Hi TK, I have done that for my own needs (only formatted not altered the text) and would be happy to send it to you for your use. I would also be happy to update it as required.
I will be working on the 'bar eating' some more as I cannot see where it states 'very next bar' and also in some of the trades I cannot see that happening. - Not a criticism, I just need to prove things to myself before I can accept them.
I think that 'bar eating' is pivotal and needs to be spelt out for people like myself!
I also believe when going long the bid has to be +2 pips of the previous bear bar for it to be fully eaten. Correct me if i'm wrong.
  • #248
  • Dec 16, 2008 8:30pm Dec 16, 2008 8:30pm
Small help out here fellas....

With hot keys, how do you make it so that the "OK" box doesn't pop up, and the command goes directly into the trade?
" Average traders look to the left, great traders look to the right."
  • #249
  • Dec 16, 2008 8:47pm Dec 16, 2008 8:47pm
Quoting ubp
I also believe when going long the bid has to be +2 pips of the previous bear bar for it to be fully eaten. Correct me if i'm wrong.
From Page 1:
"Blue candle eats red candle by at least 2 pips, near or at the 21SMA"
  • #250
  • Dec 16, 2008 8:50pm Dec 16, 2008 8:50pm
Given the nature of the market, the length of time this method has been a thread; to me voting seems very premature. There are still several questions that need to be taken care of - as an example -

what about candle wicks; does the engulfing candle have to engulf the wicks as well or just the body of the set up candle.

How to work with doji's,
how to deal with a candle that opens a couple of pips into the set up candle so it doesn;t really engulf it,

how to handle spikes,

I am sure I will come up with a few more as I watch and learn.

My experience says there is a lot of work left to do before I can feel comfortable with this method.

My two cents worth.
I make money anywhere in the world by taking orders
  • #251
  • Dec 16, 2008 9:15pm Dec 16, 2008 9:15pm
This one took a while to develop. The Asian session just grinds away...especially after you're in a trade. Because it was the Asian session I was prepared to close this trade with minimal profit if it looked like it was stalling, or target 20 pips. I got the 20 pips this time around.

The trade happened after the 2 hour trade threshold, but in this case it took the pair a while to take direction so I stuck with it.

My stop was just below the recent pivot @94. That is the thing I really, REALLY like about this, the low risk entries with the potentiol for 1:1, 1:2, 1:3, 1:4 RR and so on...you get the picture. If I stop out, psychologically it isn't damaging with such a small amount knowing that the next trade may give me a 1:5 RR return...sweet.

The key with this as well as any other methodology is patience...
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  • #252
  • Dec 16, 2008 10:04pm Dec 16, 2008 10:04pm
Just closed...entered based on M2...later got my M1 signal. target was trendline....20 pips. Price action got me into the trade earlier...and M1 confirmed that I should stay to target.

Cheers
CanuckCT
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  • #253
  • Dec 16, 2008 10:11pm Dec 16, 2008 10:11pm
Really great system....
Easy ride, nice 90 pips....
One question though: Is it allright to take the trade 'around' the SMA doesnt matter which side of it? Or it has to be in the same side as the trade (would sound more logicall) ?
This pic was my 90 pip trade couple of hours ago. Price action crossed down the SMA just a little and then was heading back to the SMA when I got the bull eating bear candle just off the SMA. The question is, at the eating time the bull candle didnt really cross the SMA to the direction of the trade....it was just 'half a pip' on the line.....is it a valid trade?

This system rocks, thanks a lot all of you.

Cheers,
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''I am too sexy for my pips, too sexy for my pips, too sexy yeahhh...''
  • #254
  • Dec 16, 2008 10:16pm Dec 16, 2008 10:16pm
I don't think that quite fits TK's rules...nevertheless, a very nice trade with a tight stop....was in a nice uptrend and you got in at the best possible place...as pullback started back up. Nice job!
Cheers
CanuckCT

Quoting Dudu 73
Really great system....
Easy ride, nice 90 pips....
One question though: Is it allright to take the trade 'around' the SMA doesnt matter which side of it? Or it has to be in the same side as the trade (would sound more logicall) ?
This pic was my 90 pip trade couple of hours ago. Price action crossed down the SMA just a little and then was heading back to the SMA when I got the bull eating bear candle just off the SMA. The question is, at the eating time the bull candle didnt really cross the SMA to the direction of the trade....it was just 'half...
  • #255
  • Dec 16, 2008 10:22pm Dec 16, 2008 10:22pm
Essentially the same as EJ trade....price action gets me in early and then M1 fires. No heat on the trade.
Cheers
CanuckCT
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  • #256
  • Dec 16, 2008 10:26pm Dec 16, 2008 10:26pm
Quoting CanuckCT
I don't think that quite fits TK's rules...nevertheless, a very nice trade with a tight stop....was in a nice uptrend and you got in at the best possible place...as pullback started back up. Nice job!
Cheers
CanuckCT
Thanks...
Being lucky sometimes doesnt harm anyone.....lol...
Just to make it clear, you dont think it fits TK's only because it was on the opposite side of the SMA ??? Or was there something else I m not seeing ?? Bull eats bear, higher highs and higher lows, cci and stoch up....

Thanks a lot for the imput, I aprreciate that CanuckCT.
''I am too sexy for my pips, too sexy for my pips, too sexy yeahhh...''
  • #257
  • Dec 16, 2008 10:32pm Dec 16, 2008 10:32pm
Nothing lucky about it...that was a good trade setup and you nailed it. The only reason I say it didn't fit was because it was below the 21sma. It was still a good price action trade. Remember...the 21SMA is an arbitrary number based on TK's testing and it's a visual to give you a reference. I'm not suggesting there is anything wrong with the 21SMA...helps to have a reference. All I'm saying it that you nailed it...you might call it luck...I call it starting to read the price action.
Cheers
CanuckCT

Quoting Dudu 73
Thanks...
Being lucky sometimes doesnt harm anyone.....lol...
Just to make it clear, you dont think it fits TK's only because it was on the opposite side of the SMA ??? Or was there something else I m not seeing ?? Bull eats bear, higher highs and higher lows, cci and stoch up....

Thanks a lot for the imput, I aprreciate that CanuckCT.
  • #258
  • Dec 16, 2008 10:50pm Dec 16, 2008 10:50pm
Quoting CanuckCT
Nothing lucky about it...that was a good trade setup and you nailed it. The only reason I say it didn't fit was because it was below the 21sma. It was still a good price action trade. Remember...the 21SMA is an arbitrary number based on TK's testing and it's a visual to give you a reference. I'm not suggesting there is anything wrong with the 21SMA...helps to have a reference. All I'm saying it that you nailed it...you might call it luck...I call it starting to read the price action.
Cheers
CanuckCT
Hummm, thanks again....
I understand your point and thank your support...
Thats exactlly what I thought, being around the SMA means the possibility of strong momentum and taking into account the SMA is a reference I thought that would be still a great trade when I saw price reacting back towards the SMA and the 'bull eats bear' formation in an obvious uptrend with all cci and stoch confirming it....
Still I understand any system needs to have its rules and being on the wrong side of the SMA means 'no go' according to the rules...Its up to the trader to break the rules or not according to his risk appettite and MM.

Well, its 2:44 am here in Brazil and I need some sleep...will be back to the NY oppening...
Good night you all, guys..

And thanks again, Canuck !!!

Cheers,
''I am too sexy for my pips, too sexy for my pips, too sexy yeahhh...''
  • #259
  • Dec 16, 2008 10:55pm Dec 16, 2008 10:55pm
Another trade on GU. Closed +40. Done for the night.
Cheers
CanuckCT
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  • #260
  • Dec 16, 2008 11:43pm Dec 16, 2008 11:43pm
Quoting ukcool
Hi TK,

Any valuable tips of how I could use this method on the 5min TF.

Thanks
Same idea exactly but with an 8SMA and 21SMA on the chart
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