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Tkpower8 ATM

  • #561
  • Dec 19, 2008 4:48am Dec 19, 2008 4:48am
Quoting tkpower8
What do you guys want in much more detail in the ebook?

Am I missing anything?
Hello TK -- could you include a bit about candle patterns - are there any particular ones that you use to keep out of a trade or use to reinforce the decision to take a trade. I don't expect a lesson on japanese candles sticks - just the ones that are significant for you.

It's impressive you've got this many pages on the thread without it being diluted by a rash of indicators
  • #562
  • Dec 19, 2008 4:54am Dec 19, 2008 4:54am
While it is great to focus on winning entries. it is the losing positions that will take you out of the game, no matter how well or how many winners you may have. I would therefore suggest a reasonable amount of content on either entries that look very similar to proper trades, but failed due to missing of a key criteria, such as not the 2nd or 3rd trade in a trend, or perfect entry set-ups that fail despite meeting all the criteria.

These observations would be key to any success IMHO.

G-Man
  • #563
  • Dec 19, 2008 5:06am Dec 19, 2008 5:06am
Quoting G-Man
While it is great to focus on winning entries. it is the losing positions that will take you out of the game, no matter how well or how many winners you may have. I would therefore suggest a reasonable amount of content on either entries that look very similar to proper trades, but failed due to missing of a key criteria, such as not the 2nd or 3rd trade in a trend, or perfect entry set-ups that fail despite meeting all the criteria.

These observations would be key to any success IMHO.

G-Man
Exactly what i am was trying to explain in my previous post.
JTH
  • #564
  • Dec 19, 2008 5:12am Dec 19, 2008 5:12am
Thanks for the input, noted everything.

I had actually forgotton my quick shpeel on money management, knew I forgot something, thanks again
  • #565
  • Dec 19, 2008 5:43am Dec 19, 2008 5:43am
Quoting tkpower8
Thanks for the input, noted everything.

I had actually forgotton my quick shpeel on money management, knew I forgot something, thanks again
Thanx again tkpower8 for preparing Ebook its really good help for us..

one thing it might be useful in E-Book is

Technical Part
1- list of indicators what we used for Tkpower8 Strategy
2- How to insert indicator
( i know many of us know it but just to complet the image)
3- HOW TO CONVERT 1M to 2M step by step shown Screenshot ( i think this is very important becuse 2M is Part of this system ).

Thanx in advance and waiting for nice Ebook.
Never sell @ lower upward channel unless breacked and vise versa .
  • #566
  • Dec 19, 2008 6:02am Dec 19, 2008 6:02am
Quoting tkpower8
You need to sort out your gray zones
I do not want to clutter up the thread with questions about settings - but what do I have to do with these gray zones?
I changed the settings like tkpower8 wrote but I see that something with them is wrong.
Link to the printscreen so as I dont want to insert unnecessary charts in the thread.
http://images6.fotosik.pl/354/722d88ea9000f875.jpg
I'm using Google Translator.
  • #567
  • Dec 19, 2008 6:13am Dec 19, 2008 6:13am
TK,
I just got here sorry for the late request. I would be interested in your discussing dojis in relation to bear eats bull etc. Do they play a role in your decision at all or do you simply ignore them? I ask to include this in you ebook because dojis are occuring often in these retracements....

Tks
  • #568
  • Dec 19, 2008 6:13am Dec 19, 2008 6:13am
Hey TK,

How about a comment in the ebook on what to look for that helps identify immediately if a trade is working as planned (two opposing candles, etc)..you offered a brief post in this thread a couple days back on that issue.

Thanks,
Jon
  • #569
  • Dec 19, 2008 6:19am Dec 19, 2008 6:19am
Dangit!!!

I'm gonna have to move or learn how to live without sleep so I can trade the London open...Day in and day out perfect setups occur near the London open.....

Nice work everyone who was able to catch those big moves :0)
  • #570
  • Dec 19, 2008 6:22am Dec 19, 2008 6:22am
Quoting Gajowy
I do not want to clutter up the thread with questions about settings - but what do I have to do with these gray zones?
I changed the settings like tkpower8 wrote but I see that something with them is wrong.
Link to the printscreen so as I dont want to insert unnecessary charts in the thread.
http://images6.fotosik.pl/354/722d88ea9000f875.jpg
Looks to me like you need to subtract 1 hour from the "start" and "end" times of the ANT-GUBreakout indicator. Your Alpari platform is showing GMT+1
  • #571
  • Dec 19, 2008 6:30am Dec 19, 2008 6:30am
Quoting tkpower8
Yep, got it in there, thanks for the input.

Anything else anyone or are we all covered?
Can't wait for the update TK, thanks in advance.

I would suggest that a very brief description of how candles can be used for exits as well as entries would be beneficial since candle formations are the closest you can get to real-time info.
Specifically shooting stars, hammers and engulfing patterns when price hits a low/high for the current day. All other formations can be read on babypips...etc.
I will always move S/L or exit on these formations regardless of targets/fib lines/s&r et al. It may go some more in your chosen direction, but thats just the way it is. Take what you need and go and do something else. Life is more important and I admire the way in which you stick to your trading times regardless.

Someone said on here that exits are far more important than entries and I cannot stress how true this is.
Remember - you make or lose on exits, not entries.

Thanks again,

Dazzer
  • #572
  • Dec 19, 2008 6:33am Dec 19, 2008 6:33am
Quoting scottyboy
Looks to me like you need to subtract 1 hour from the "start" and "end" times of the ANT-GUBreakout indicator. Your Alpari platform is showing GMT+1
but I changed the value on "1" in GMTshift so it works the same way.
I'm using Google Translator.
  • #573
  • Dec 19, 2008 6:54am Dec 19, 2008 6:54am
Sorry - looks like I got it a bit wrong...

from the first post TK's time are

06:00-07:59GMT
12:00-13:59GMT
17:00-18:59GMT
22:00-23:59GMT

So if you put "Start" = 06:00 and "end" = 07:59 and "GMTshift" = 1 then it should put the grey box in the right place

The other ANT-GUB indicators need to be setup in the same manner.
  • #574
  • Dec 19, 2008 6:56am Dec 19, 2008 6:56am
Hey TK thanks for sharing your methods -

2 questions... -

Trading off a 2 min chart I am guessing this still works ok in a range market?

and lastly you say to trade at the start of the 8:00 and 14:00 sessions but on the template there are another two breakout zones....

Do you trade off these? and if not what are they for?

Thanks
Time hides Nothing
  • #575
  • Dec 19, 2008 7:01am Dec 19, 2008 7:01am
Although I have not traded this method yet it is very close to something that I am currently using. The unique twist is the "bar eating" concept. If you follow all of TK's rules you'll find that you are in the highest probability trades. However, after viewing a ton of charts watching this method in action I have observed a couple of things that may enhance the method even more:

First, It seems that many times the most dynamic moves occur shortly after a breakout of a trading range or a cross above or below the sma. Once this happens you simply wait for the pullback.

Second, It seems that the best trades are when during the pullback the pullback bars are diminishing in range. For example, if looking to go long the bear candles during the decline are smaller than the bullish candles during the previous rally. The opposite rules would apply if looking to short.

Thanks for your generosity in sharing the method TK and Merry Christmas everyone!
  • #576
  • Dec 19, 2008 7:07am Dec 19, 2008 7:07am
Sorry for the interuption. Hope that did not influence your trading.
I hope the Breakout and Price Action part to be more detailed.
Quoting tkpower8
OK this will have to be my final post till much later as I need to focus, I will check back in a minute though to see your answer to this.

What do you guys want in much more detail in the ebook?

So far I have included;

The System and Rules plus what roles Breakouts, Pivot Lines, Price Action, Trading Times, and Elliott Waves have in my decision making


Am I missing anything?
  • #577
  • Dec 19, 2008 7:50am Dec 19, 2008 7:50am
Quoting tkpower8
OK this will have to be my final post till much later as I need to focus, I will check back in a minute though to see your answer to this.

What do you guys want in much more detail in the ebook?

So far I have included;

The System and Rules plus what roles Breakouts, Pivot Lines, Price Action, Trading Times, and Elliott Waves have in my decision making


Am I missing anything?
I'm popping in just a min cause I have to leave. Thank you for a a start. In case someone hasn't mentioned it yet: more detailed exit rules maybe. As we all know, it's always easier to get in a good trade, but still hard to exit at the right point.
  • #578
  • Dec 19, 2008 7:57am Dec 19, 2008 7:57am
Just want to tell TK how really special and unique his sytem is.

Before this thread I was subscribed to maybe 8 or 9 other system threads, and spent at least 5 hours every day reading, and another 5 practicing.

Since this thread, I haven't read those other ones at all!

I very much look forward to the ebook and your best instructions on how to proceed!

Chance
" Average traders look to the left, great traders look to the right."
  • #579
  • Dec 19, 2008 8:19am Dec 19, 2008 8:19am
TK,
If this is being explained in your ebook, then please ignore this question.

With the exception of the NY open and NY afternoon session, I see that the gray areas are set to end at two minutes prior to the session open, which means we are now clear to trade. However for the New York open the area is set to one hour after the open as described in post #1. Is this to avoid extreme volatility due to news releases or is there some other reason?

If I just misunderstand or am just a dumbass, please someone clear this up for me... If this was already discussed and I simply missed it, please point me to the post.

Tks
  • #580
  • Dec 19, 2008 8:52am Dec 19, 2008 8:52am
Hey Cindy,

It depends on how tight the range is. I don't think you should be taking these signals if M2 seems to be ranging. You are looking for a break of the range and that will often coincide with a setup candle.

If however, you are looking at a range on a higher timeframe....like H1...this system will work great.

My 2 cents.

Cheers
CanuckCT

Quoting CindyXXXX
Hey TK thanks for sharing your methods -

Trading off a 2 min chart I am guessing this still works ok in a range market?

Thanks
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