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Tkpower8 ATM

  • #361
  • Dec 17, 2008 3:38pm Dec 17, 2008 3:38pm
she posted the same in other threads too
StopLoss is for none belivers... Trust the Gurus..
  • #362
  • Dec 17, 2008 3:39pm Dec 17, 2008 3:39pm
Quoting susanltd3
My name is susan william.....Am new at forex and i saw ur forum at forexfactory....And i will glad if u can teach me step by step method i can use to start trading....Here is my Email Address: [email protected]
Hi Susan,

If you're new to trading, first thing to do is to read babypips.com.

Dazzer
  • #363
  • Edited 5:11pm Dec 17, 2008 4:54pm | Edited 5:11pm
Greetings TK

Firstly, this is by far the most straightforward and successful method I've ever tried.
+80 pips after 2 trades this am, ended the day at +71 after (many many..!)
many trades. [14 trades, 7 wins]

I'm doing way too many trades but I'm really using them for practice and familiarisation.

On the subject of reducing losses and being selective:

Could you write a summary of all the points or characteristics you look for in a 'premium' opportunity - a "SOLID setup", many of which you've mentioned already. Such as (suggestions only)

  1. slope of the 21sma
  2. x candles sideways before signal
  3. after touching the 21sma
  4. after crossing 21sma
  5. long eaten candle (wick/no wick)
  6. no wick on eating candle?
  7. doji? (no colour but 'biased')

My object is to fully adopt your 'perfect' philosphy of fewer trades but also fewer losses.

#314 "I had my 1st loss in 2 weeks and 3 days just this morning" ----Good Lord, what can I say??

Just read #314 again:
"I do not take lots of trades each day though, I am very picky and it has to be just right"
EXACTLY .....my objective.

rorieu

  • #364
  • Dec 17, 2008 6:21pm Dec 17, 2008 6:21pm
Quoting tkpower8
I bought g/u at 1.5416. I have locked in my SL at +20 giving me just over my session target of 50, I have applied a trailing 25 and will let it do what it wants

Job done in 1hr 5 mins
TK, can you please post the pictures of your trades as well? I'm checking the forum many hours later and I can't figure out when you took them. Thanks

P.S. - I vote yes for donations. Good idea!
  • #365
  • Dec 17, 2008 6:43pm Dec 17, 2008 6:43pm
Quoting tkpower8
Well I used to trade e/j g/j e/u and g/u but it prooved too much and flipping around between charts actually makes you miss trades so I decided that it should be 1 pair per monitor.

The g/j is a spikey devil and although it can get you massive pips it can also spike you out for no reason. The e/j doesn't quite move as much but is usually way smoother. The e/u and g/u are both good but the g/u moves more.

After that it boils down to picking 2 pairs (1 for each monitor) so I went with my favorite, the e/j, and then the g/u so that they were 4...
For the GBP/JPY...do you think maybe a 5 min. chart could be effective and maybe deal with the spikiness of this pair?

PS. Thanks for this thread!!! I have been following it from the beginning!
  • #366
  • Dec 17, 2008 7:02pm Dec 17, 2008 7:02pm
Quoting bigbear777
Thank you for you generosity. This system indeed may help my situation since I am unemployed. I made 12% yesterday and 8% today. Not bad for a demo trader like my self. All my bad trades were because of rule violations!
I will practise for 2 months before I jump in with the sharks.
All I have to say is more power to you. I have quite a few friends that have been devasted by the economy here in the states. Just start off slowley when you go live. Wish you nothing but the success and financial freedom i'm sure is coming to you .
  • #367
  • Dec 17, 2008 7:26pm Dec 17, 2008 7:26pm
Quoting ubp
All I have to say is more power to you. I have quite a few friends that have been devasted by the economy here in the states. Just start off slowley when you go live. Wish you nothing but the success and financial freedom i'm sure is coming to you .
Thank you for the kind words!
  • #368
  • Dec 17, 2008 7:50pm Dec 17, 2008 7:50pm
When you say the candle has to be close to the 21sma...how close is close?
  • #369
  • Dec 17, 2008 7:51pm Dec 17, 2008 7:51pm
TK's template is for GMT+2 broker like FxPro. Brokers with time zone later than GMT+2 (GMT+1, GMT+0, GMT-1, ...) will all have problem for the breakout zone of 22:00-23:59 GMT. The attached is for GMT0 broker like IBFX. I modified the end time of the purple line to the beginning of the next breakout zone as I think it is not needed any more since new breakout zone has come.

Quoting Big E!
PipSot,

Did you ever resolve this problem you were having with the breakout indicator? If so, please explain. I too am having the same problem. My broker is IBFX. My operating system is Vista (maybe this is the reason).

If not, attached is a link where you can download the i-ParamonWorkTime indicator which allows entry of 2 time zones. However, you will have to draw your own Hi/Low breakout lines. I find this is better than no indicator at all. It allows you to easily see the Hi/Low of the previous 2 hours before you trade.

http://www.forexfactory.com/showthre...14258&page=258...
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-18_094833.png Size: 71 KB
Attached File(s)
File Type: zip M2_Template_IBFX.zip   95 KB | 472 downloads
  • #370
  • Dec 17, 2008 7:52pm Dec 17, 2008 7:52pm
I wish you the best, too. But, having tried numerous systems, do not go live until you have MASTERED the system on demo trading which costs you nothing. For some other newer people, I recommend printing out the first post, and keeping it by your computer to refer to. Also, print out the sample charts of successful trades, and also the ones that weren't. I'm used to longer time frames, and I've learned you can miss some good trades when you're on the phone, off to the kitchen, or wherever. Live trading is nothing like demo trading. In live trading, your emotions can make you pull the trigger too early or too late.
Quoting ubp
All I have to say is more power to you. I have quite a few friends that have been devasted by the economy here in the states. Just start off slowley when you go live. Wish you nothing but the success and financial freedom i'm sure is coming to you .
  • #371
  • Dec 17, 2008 8:05pm Dec 17, 2008 8:05pm
Nice bull eats bear right off the 21sma...

You really have to be playing ready ball to catch these
Attached Image (click to enlarge)
Click to Enlarge Name: ej- long 12-17-08.gif Size: 31 KB
  • #372
  • Dec 17, 2008 8:06pm Dec 17, 2008 8:06pm
Quoting tkpower8
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.
TK,
Just want to say, I'm basically a scalper.. to make 25 pips a day is (was) ok with me. Used your stratagy today and had 1 trade (eur/usd) at 13:00 GMT and walked away with 200+ pips. Traded this on a PDA while at work (just happened to look at the charts at the right time) with only a 21 moving average and watched price action. I know the last 2 days have had plenty of pips to go around, but to look at a uncluttered screen is very pleasing to the eye and making what I'm use to making in 2 weeks is pleasing to the account ! Thanks again for your leadership !!
  • #373
  • Dec 17, 2008 9:01pm Dec 17, 2008 9:01pm
Hello...would you mind sharing what your experience has been with Metatrader on your PDA...what PDA, what service provider, stability, etc.
Thanks
CanuckCT

Quoting mprincehorn
TK,
Just want to say, I'm basically a scalper.. to make 25 pips a day is (was) ok with me. Used your stratagy today and had 1 trade (eur/usd) at 13:00 GMT and walked away with 200+ pips. Traded this on a PDA while at work (just happened to look at the charts at the right time) with only a 21 moving average and watched price action. I know the last 2 days have had plenty of pips to go around, but to look at a uncluttered screen is very pleasing to the eye and making what I'm use to making in 2 weeks is pleasing to the account ! Thanks again for your...
  • #374
  • Dec 17, 2008 9:25pm Dec 17, 2008 9:25pm
Quoting deepsouth
Nice bull eats bear right off the 21sma...

You really have to be playing ready ball to catch these

I caught that myself. I have been following this thread. Nice work. I love price action.
  • #375
  • Dec 17, 2008 9:55pm Dec 17, 2008 9:55pm
Quoting CanuckCT
Hello...would you mind sharing what your experience has been with Metatrader on your PDA...what PDA, what service provider, stability, etc.
Thanks
CanuckCT
Hello CT,
I've been trading wireless for over a year now. I live in Ohio (EST) and work fulltime, so the only time I can trade in front of my computer is the Asian session (not much movement), I started with a PDA so I could track the market whenever I was awake. Since then I've traded while grocery shopping, on vacation at the beach, and playing golf, plus many other locations. I have a Palm Treo, model 750. Provider is AT&T. Interbankfx is very stable on their wireless platform. I do get requotes, but, it is wireless so connection is slower, but not a big problem at all, can usually get the price I'm looking for. Keep in mind (if your shopping for a PDA) it has to have Windows Mobile, Blackberry's use their own system and at least now,they cannot support metatrader. Also alot of PDA's that have Windows will not install MT4, I checked about 5-6 different devices and found Palm to be the only one that will download and install correctly.
  • #376
  • Dec 17, 2008 10:12pm Dec 17, 2008 10:12pm
Quoting tkpower8
This is it for examples from me. I will just try and update the very post now based on the questions I see and anything else I can think of.

Attachment

A great monday morning on the e/j and g/u
M2 timeframe??????????? Isn't that offline? PM me.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #377
  • Dec 17, 2008 11:21pm Dec 17, 2008 11:21pm
Quoting deepsouth
Nice bull eats bear right off the 21sma...

You really have to be playing ready ball to catch these
Nice catch deepsouth
  • #378
  • Dec 17, 2008 11:23pm Dec 17, 2008 11:23pm
mprincehorn, can you apply M2 chart to the PDA? Or you are using other time frame? Thanx.

Quoting mprincehorn
Hello CT,
I've been trading wireless for over a year now. I live in Ohio (EST) and work fulltime, so the only time I can trade in front of my computer is the Asian session (not much movement), I started with a PDA so I could track the market whenever I was awake. Since then I've traded while grocery shopping, on vacation at the beach, and playing golf, plus many other locations. I have a Palm Treo, model 750. Provider is AT&T. Interbankfx is very stable on their wireless platform. I do get requotes, but, it is wireless so connection is slower, but...
  • #379
  • Dec 18, 2008 1:06am Dec 18, 2008 1:06am
I haven't really spotted any new questions lately that have not been covered somewhere but it is clear that post 1 is ready for an upgrade. Instead of posting anything further this week I am just going to say that the rest of this week and this weekend will be spent on post 1, a downloadable ebook, and getting the website started.

Mikep has been kind enough to write an indicator that alerts you the second a candle eats candle with all parameters met. Its working great so far but he is now making it even better by including something else I have mentioned. This will be part of the V2 tempate so stay tuned.
  • #380
  • Dec 18, 2008 1:11am Dec 18, 2008 1:11am
Quoting tkpower8
I haven't really spotted any new questions lately that have not been covered somewhere but it is clear that post 1 is ready for an upgrade. Instead of posting anything further this week I am just going to say that the rest of this week and this weekend will be spent on post 1, a downloadable ebook, and getting the website started.

Mikep has been kind enough to write an indicator that alerts you the second a candle eats candle with all parameters met. Its working great so far but he is now making it even better by including something else I have...
Many thanks for all your contributions so far, an alert will be fantastic for backtesting if it paints an arrow on the chart. I'm also very pleased to see a distinct lack of additions of new indicators to this thread, which makes a very refreshing change

Andy
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