Tkpower8 ATM | Page 53 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The ATM Machine 9 replies

My ATM Machine 6 replies

Like an ATM! Think again... 4 replies

Reliable broker with micro, cc/atm, trailing stop 0 replies

Attachments: Tkpower8 ATM
Exit Attachments

Tkpower8 ATM

  • #1,041
  • Jan 4, 2009 8:45pm Jan 4, 2009 8:45pm
Nice one deepsouth
  • #1,042
  • Jan 4, 2009 9:30pm Jan 4, 2009 9:30pm
Quoting nspips
Nice one Forexweasel. What pair?
This is eurusd:
Here's what I think is a good trade for me, usually whimp out before making this many pips. The entry was the first ATM down signal after the 21 SMA turned red (green dotted vertical line). My plan was to exit at the PSAR but I used a 20 pip TSL instead. The PSAR would have cost just a couple of pips if I used that as my stop. Notice how the candles sliced throught the daily pivot like it wasn't even there. As I posted earlier, I'm trying to find the best ATM entries and I've found that using another TF's stoch on my M2 chart can be useful in this regard. The green stoch is the M15 14,3,3 and the magenta stoch is the M5 100,3,3. The magenta is a proxy for the M5 price itself. I am not sure which one of these I like better. The M15 definitely signals earlier, but most of the movement takes place after the M5 slopes in a direction. By the end of my trade the stochs are near the 20. I won't enter again till they're pointing upward and above 20, then I'll take a long ATM trade. This means if the downward trade I made decides to continue, I will miss out on a lot of pips, but 50 is good and I hate to make bad trades. One of these a day and I'm friggin retired.

ignore the second green vertical line as it is not a valid entry of any system, though I nabbed a couple pips on the next big down candle you see there. that's a stupid trade and I'm lucky I didn't get my butt handed to me!
Attached Image (click to enlarge)
Click to Enlarge Name: winner.gif Size: 30 KB
Isolate yourself from the herd
  • #1,043
  • Jan 4, 2009 11:24pm Jan 4, 2009 11:24pm
Quoting deepsouth
I didn't stick to my plan and it cost me an opportunity to make some good pips...For clarification my setup candle was actually two candles back from where the entry shows on the chart.
TK's Blue eat Red would have been better! TK Rules as they say.

Pips are pips though so good for you.
  • #1,044
  • Jan 4, 2009 11:30pm Jan 4, 2009 11:30pm
Quoting forexweasel
This is eurusd: Here's what I think is a good trade for me, usually whimp out before making this many pips.
Certainly was, the rest of the post was a bit complicated for me but I will read it at my leisure again, I am sure that there are gems in there.

I don't suppose that you could tone down the colours for me? Old eyes ...

Two trades like that and TK says that he is out.

Pleased to see people still posting
  • #1,045
  • Jan 5, 2009 12:05am Jan 5, 2009 12:05am
I need the bright lights to keep me awake during the wee hours. London opens around 3am for me!
Isolate yourself from the herd
  • #1,046
  • Jan 5, 2009 1:44am Jan 5, 2009 1:44am
Quoting forexweasel
I need the bright lights to keep me awake during the wee hours. London opens around 3am for me!
That is sad, 3pm for me!
  • #1,047
  • Edited 2:29am Jan 5, 2009 2:27am | Edited 2:29am
Well after that previous short trade, I fiddled about with the excrutiatingly slow upward movement that followed. But it became clear that the upward motion was labored and choppy. Looking at the channel on the m15 we were near the top of a pretty well defined upper limit. More importantly my new favorite tool the M15 stoch had risen over 80, turned back and closed below 80. I started looking for ATM entries but once the M30 stoch turned down it knew it would be a big one. entry at the dotted green line on both charts. Exit at 68 pips TP to make it to my target profit for the day. Althought the M2 chart is crowded, there is a red down arrow at the entry candle. To get these at the best price you have to have a sell stop order in at the prior candles low minus 2 pips. I'm beginning to think the best way to make mucho pips with my ATM is to wait until the stochs cycle. Its an excellent trigger for MTF stoch trades and these trades are truly virtually risk free runners from the get go. Its 325am and I have to get up in 2 hours to get ready for work! Goodnight! oops see charts below:
Isolate yourself from the herd
  • #1,048
  • Jan 5, 2009 2:28am Jan 5, 2009 2:28am
forgot something...ie: the charts


by the way, this trade turned out to be a 250 pip monster!!!! too bad I TP with 68 but its all good.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: m2.gif Size: 34 KB
Click to Enlarge Name: m15.gif Size: 27 KB
Isolate yourself from the herd
  • #1,049
  • Jan 5, 2009 3:09am Jan 5, 2009 3:09am
paradoxical is quite right! I am sure that among those who attempt to derail threads some are broker reps/s[ies who would love to scuttle successful and free methods.

Quoting paradoxical
TK8power, In order to continue with a thread, you have to have uncommon fortitude. For about two years now, I've followed many threads here. For many reasons, certain personalities will attempt to destroy the successful threads. These are generally people who have no life, and get their kicks out of destoying things that they aren't man or woman enough to create themselves. They are people who feel very bad about themself. Ther will be other lil elsies out there under many different names that will come here in the future. And all this person has...
  • #1,050
  • Jan 5, 2009 3:09am Jan 5, 2009 3:09am
Chat seems to be open, it is a public chat too so no invite required.

Not experienced with Skype chat so I can't help other than that





Done for the day, over 100pips on the e/j candle eats candle followed by breakout trade, I'll post on my blog when I finish me exercise today
  • #1,051
  • Jan 5, 2009 3:18am Jan 5, 2009 3:18am
Where's the chat? and how do I get in it? I must have missed that post


Had a very sucky London Session, down quiet a few pips am not very happy with my results so far..

Anyhow, would like to join the chat and perhaps I can learn from other people's experiences.
  • #1,052
  • Jan 5, 2009 3:21am Jan 5, 2009 3:21am
Congratulations to you Tk8 - well done.

I think I can see where you may have entered, however according to the ED1, it was a no go am I right?

So entry would have been on the candle before the vertical line?
Attached Image (click to enlarge)
Click to Enlarge Name: blooper.gif Size: 21 KB
  • #1,053
  • Jan 5, 2009 3:57am Jan 5, 2009 3:57am
Just closed the eurusd trade today.

I have not traded off of charts for a long time, but TK you are winning me over. 236 pips (spread included) risk was 2% So this was a 10.2 : 1 trade
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_016.jpg Size: 57 KB
  • #1,054
  • Edited 4:01am Jan 5, 2009 3:58am | Edited 4:01am
Quoting VitaminBeer
Congratulations to you Tk8 - well done.

I think I can see where you may have entered, however according to the ED1, it was a no go am I right? So entry would have been on the candle before the vertical line?
That's where I see it. The candle eat happens there but the MA is still not red. This is one that we need to ask TK about. It is one of the 'nearly' things. In general he says wait for a properly qualified entry. There is one a couple of bars over, another two more bars away.

Just my opinion.
  • #1,055
  • Jan 5, 2009 4:05am Jan 5, 2009 4:05am
Quoting thatwasme
Just closed the eurusd trade today.

I have not traded off of charts for a long time, but TK you are winning me over. 236 pips (spread included) risk was 2% So this was a 10.2 : 1 trade
Excellent pips! May I ask what is the red dotted and the mauve dotted lines?

Everyone has so many extra bits on their charts the forum on TK's site has a thread for those things. It is going to be interesting.
  • #1,056
  • Edited 4:29am Jan 5, 2009 4:09am | Edited 4:29am
Quoting Phreddy
Excellent pips! May I ask what is the red dotted and the mauve dotted lines?

Everyone has so many extra bits on their charts the forum on TK's site has a thread for those things. It is going to be interesting.
the red dotted line is just drawn by the script I use to exit a trade

The Magenta dotted line is a MTF 5M SAR indicator that I wrote last week for using as a exit point to capture more of a large move.

I talked about it here and posted the indicator.

The Arrows are the indicator in the ED2.zip folder on post 1 (tkpower_ATM Edition2_Final)

I also wanted to point out this is not how Tk does it. It is my own modification and seems to work for me. I posted that also here http://www.forexfactory.com/showpost...&postcount=991
  • #1,057
  • Jan 5, 2009 4:33am Jan 5, 2009 4:33am
Quoting thatwasme
Just closed the eurusd trade today.

I have not traded off of charts for a long time, but TK you are winning me over. 236 pips (spread included) risk was 2% So this was a 10.2 : 1 trade
Your chart looks a lot different to mine. Is it M1?

Who's your broker?

What's the thick purple line?
  • #1,058
  • Jan 5, 2009 4:37am Jan 5, 2009 4:37am
Quoting rorieu
Your chart looks a lot different to mine. Is it M1?

Who's your broker?

What's the thick purple line?
It is a 2 minute chart on a live account with IBFX. the thin moving average is a 8 simple on close. the bold moving average is a 21 simple on close. I can post the template if you wish, from the 2 minute. I just like things simple, and dark, for my old eyes.
  • #1,059
  • Edited 3:16pm Jan 5, 2009 4:46am | Edited 3:16pm
Quoting thatwasme
It is a 2 minute chart on a live account with IBFX. the thin moving average is a 8 simple on close. the bold moving average is a 21 simple on close. I can post the template if you wish, from the 2 minute. I just like things simple, and dark, for my old eyes.
Sorry, most of my questions were answered when I realised you're an EU person - not an EJ!

Post the tpl anyway though please.
  • #1,060
  • Jan 5, 2009 4:51am Jan 5, 2009 4:51am
To get an idea of what the larger trend was, I looked at a 30 minute and could see that price had made a slightly lower high just before 8:00 GMT and was ranging down. 8:00 was just before that large bar down. that happened between 8 and 8:30

I then looked at a 4 hour chart and could see this was probably a retracement of a larger up trend with with support where I place the green line. I felt if the support on the 30 min would be broken, then price would fall and try to test the support from the 4 hour, which it almost did and probably will before the session today is over.

I like to keep it simple
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_018.jpg Size: 74 KB
Attached Image
4 traders viewing now