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Tkpower8 ATM

  • #421
  • Dec 18, 2008 6:31am Dec 18, 2008 6:31am
Hi Tk...

On the EurJpy trade set up you were talking about a few posts back, would you consider the waves I have marked in yellow a 5 wave pattern and after it's completed your looking for an up move?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyt t3.gif Size: 39 KB
  • #422
  • Dec 18, 2008 6:31am Dec 18, 2008 6:31am
Quoting Gajowy
I will not write about the setup because just studying this system. However, this position would be for me at BE.

Opening position it is the begining for success on this market.

Take Profit 1 after 10-15 pips ( 50% can be closed ) and the remainder set at
breakeven or an equivalent of pips.
Thanks for the feedback.

How do I close only 50% of an open position? Do I need to open 2 trades and just close one of them before bringing the SL to BE?

Thanks again

Dazzer
  • #423
  • Dec 18, 2008 6:33am Dec 18, 2008 6:33am
Quoting Dazzer
32 pip loser. For me anyway

What did I do wrong?
If you look at the big picture, you will see that the 21 ema is in a rising and dampening oscillation movement. At the point you entered, although the 21 ema was red, it had by then a very shallow slope. You got taken out by the next oscillation. Sorry about that!http://www.forexfactory.com/images/icons/icon10.gif
  • #424
  • Dec 18, 2008 6:36am Dec 18, 2008 6:36am
Quote
32 pip loser. For me anyway

What did I do wrong?

Just my observation but this is what I see as the old Chop Monster. I would wait for more clear direction and smoother pullbacks. Chart shows my thoughts...
Attached Image (click to enlarge)
Click to Enlarge Name: ej chop.gif Size: 44 KB
  • #425
  • Dec 18, 2008 6:40am Dec 18, 2008 6:40am
Quoting deepsouth
Just my observation but this is what I see as the old Chop Monster. I would wait for more clear direction and smoother pullbacks. Chart shows my thoughts...

Thank you Deepsouth and all others who have answered my questions. It is very much appreciated.

Dazzer
  • #426
  • Dec 18, 2008 6:42am Dec 18, 2008 6:42am
Quoting deepsouth
Just my observation but this is what I see as the old Chop Monster. I would wait for more clear direction and smoother pullbacks. Chart shows my thoughts...
Yet another question. What is the MA you have in red on your example?

Thanks

Dazzer

Sorry DeePsouth (with a P)
  • #427
  • Dec 18, 2008 6:44am Dec 18, 2008 6:44am
Quoting Dazzer
32 pip loser. For me anyway

What did I do wrong?
Overtraded maybe? Don't worry... been there, done that.
  • #428
  • Dec 18, 2008 6:44am Dec 18, 2008 6:44am
Hi.

If it can help you, I have put a 50sma on chart.
I will never go short if price is above 50sma and never go long if price is belov 50 sma
I just use this as a filter.
And 1 thing more, I wait until candle close before I pull the trigger.
Its because you never know what goes on until it closes.

It just my opinion and the way I use this great system.
If it can help you I would be happy.

regards

Fratelli
  • #429
  • Dec 18, 2008 6:53am Dec 18, 2008 6:53am
Quoting fratelli
Hi.

If it can help you, I have put a 50sma on chart.
I will never go short if price is above 50sma and never go long if price is belov 50 sma
I just use this as a filter.
And 1 thing more, I wait until candle close before I pull the trigger.
Its because you never know what goes on until it closes.

It just my opinion and the way I use this great system.
If it can help you I would be happy.

regards

Fratelli
Thanks Fratelli, I have added the sma and I'll see how it goes

Dazzer
  • #430
  • Dec 18, 2008 6:55am Dec 18, 2008 6:55am
Quoting Dazzer
Thanks Fratelli, I have added the sma and I'll see how it goes

Dazzer
So do you use he 50sma with the 21sma, or just the 50?

Thanks
  • #431
  • Dec 18, 2008 6:58am Dec 18, 2008 6:58am
Quote
Yet another question. What is the MA you have in red on your example?

Dazzer,
The red line is the 200sma that TK mentioned earlier in the thread. I just kinda use it as dynamic S/R, just watching how price behaves when approaching it that's it. I do not use it for directional bias at all.

Deepsouth
  • #432
  • Dec 18, 2008 7:20am Dec 18, 2008 7:20am
Quoting Dazzer
32 pip loser. For me anyway

What did I do wrong?

Obvoious triangle forming after the big morning move
  • #433
  • Dec 18, 2008 7:23am Dec 18, 2008 7:23am
Quoting ozziedave
Hi Tk...

On the EurJpy trade set up you were talking about a few posts back, would you consider the waves I have marked in yellow a 5 wave pattern and after it's completed your looking for an up move?
Its a messy wave yes.. I do not look for anything in particular afterwards, whatever the market shows you. Maybe it will go up or maybe it will continue down aftr the a-b-c like this morning
  • #434
  • Dec 18, 2008 7:24am Dec 18, 2008 7:24am
Quoting fratelli
Hi.


And 1 thing more, I wait until candle close before I pull the trigger.
Its because you never know what goes on until it closes.
About this I was wondering too. It seems like the early entry gives better results, but I would like to know from TK how many times on average a trade is entered 2 pips above/below the previous candle and then the price will retrace.
  • #435
  • Dec 18, 2008 7:25am Dec 18, 2008 7:25am
The setup appeared to very good, however a little too close to news so I bailed.....
Attached Image (click to enlarge)
Click to Enlarge Name: eu short 12-18-08.gif Size: 38 KB
  • #436
  • Dec 18, 2008 7:31am Dec 18, 2008 7:31am
Quoting alright
About this I was wondering too. It seems like the early entry gives better results, but I would like to know from TK how many times on average a trade is entered 2 pips above/below the previous candle and then the price will retrace.
Happens occassionally, not that often though. This is why I start with a 25pip SL and wait for the candle I enetered on to close before adjusting it
  • #437
  • Dec 18, 2008 7:31am Dec 18, 2008 7:31am
Hi

I also use the 21MA.


Hope it help.

regards

Fratelli
  • #438
  • Dec 18, 2008 7:37am Dec 18, 2008 7:37am
Quoting deepsouth
The setup appeared to very good, however a little too close to news so I bailed.....

Hey Deepsouth,
could you upload your indicator with times and calendar it s look very usefully...

Thanks,
J
Statement is the reflection of your State of Minde.
  • #439
  • Dec 18, 2008 7:44am Dec 18, 2008 7:44am
Quoting zojd
Hey Deepsouth,
could you upload your indicator with times and calendar it s look very usefully...

Thanks,
J

It is in the zip file on post No. 1.
  • #440
  • Dec 18, 2008 7:50am Dec 18, 2008 7:50am
Quoting zojd
Hey Deepsouth,
could you upload your indicator with times and calendar it s look very usefully...

Thanks,
J
Already provided by TK with his zip file. To see it you can load the template named Atm-m2-alerts-news
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