Tkpower8 ATM | Page 57 | 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

  • #1,121
  • Jan 5, 2009 7:46pm Jan 5, 2009 7:46pm
Quoting forexweasel
sorry you missed those deep south. I did a combo MTF stoch/ATM entry on that taking the first ATM signal after the M15 stoch crossed below 80. On this one I had a TP of 20 pips set, but it did much better than that, something like 40 pips now. On M2 chart is the M15 stoch indicator in green.


PS very tempted to get back into this trade, but usually get my butt handed to me when I try that. 20 pips is ok, I'll wait for the next one for 20 more.
How are you getting that stoch indicator on the same chart? I tried and it's not working right. I'm using the MTF 2.0 Stochastic indicator. And great job by the way :-)
  • #1,122
  • Jan 5, 2009 7:50pm Jan 5, 2009 7:50pm
I may have missed this guys but can someone quickly tell me what's the significance of the different colors on the background (i.e., dark gray, light gray, white).?
  • #1,123
  • Jan 5, 2009 7:53pm Jan 5, 2009 7:53pm
Quoting jdcompute
Yes it was kinda scary since I'm not used to big drawdowns with this system. I actually had an arbitrary SL in mind, like 35 pips. I was kinda testing the system on a different level other than the norm. I apologize if I caused confusion. I'll try to stick to the rules and the method when posting trades.
Thanks, reason that I asked was that there was no 'natural' place in my view. It is really good of you and others to put up your trades for us to see. Thanks
  • #1,124
  • Jan 5, 2009 7:58pm Jan 5, 2009 7:58pm
Quoting jdcompute
I may have missed this guys but can someone quickly tell me what's the significance of the different colors on the background (i.e., dark gray, light gray, white).?
It is in the book but from memory it marks 2 hour areas with a high and low ready for the break-out at the end. The purple lines that follow are an extension of the highs and lows. It can be used as a strategy of its own.
So, two for the price of one.
Don't take my view as gosple, I am not interested in that, I have enough trouble with the basic. Chapters 1 to 5.
  • #1,125
  • Jan 5, 2009 8:01pm Jan 5, 2009 8:01pm
Quoting Phreddy
It is in the book but from memory it marks 2 hour areas with a high and low ready for the break-out at the end. The purple lines that follow are an extension of the highs and lows. It can be used as a strategy of its own.
So, two for the price of one.
Don't take my view as gosple, I am not interested in that, I have enough trouble with the basic. Chapters 1 to 5.
Thanks for explaining that to me.
  • #1,126
  • Jan 5, 2009 8:03pm Jan 5, 2009 8:03pm
Quoting Phreddy
Sorry Foxey, can I have a better clue for your entry? Saw stock <80...
So looking at that chart, you see at the far left that the SMA21 turned red, then about 15 candles later, the ATM signal painted a red arrow. What makes this trade almost a sure thing is that the M15 stoch was (off the chart to the left) above 80 and then dropped down, which usually means its going to below 20. So if the higher TF stoch is going to make such a strong move, surely little M2 will follow. Well that's my logic anyway. If you back test this, you can get a few trades per day and 15 out of the sixteen I checked made 20 pips. SL was 25 pips, but was changed to break even at +10. I know that's less than a 1:1 RR ratio but if you seldom stop out its ok.
Isolate yourself from the herd
  • #1,127
  • Jan 5, 2009 8:06pm Jan 5, 2009 8:06pm
Quoting jdcompute
How are you getting that stoch indicator on the same chart? I tried and it's not working right. I'm using the MTF 2.0 Stochastic indicator. And great job by the way :-)

JD here's the one I'm using:

as I write this, the M15 has dropped below 20 but is now turning up, if it pops above 20 and the M30 curls, I'll be stalking an ATM long entry soon.
Attached File(s)
File Type: mq4 #MTF Stochastic v2.0.mq4   6 KB | 439 downloads
Isolate yourself from the herd
  • #1,128
  • Jan 5, 2009 9:37pm Jan 5, 2009 9:37pm
Is there still a problem with the Skype chat room? Room still always showing no participates. Thanks!
PipHunter
  • #1,129
  • Edited 9:41pm Jan 5, 2009 9:38pm | Edited 9:41pm
Thank you very much DS for your detailed information and hardwork of typing. I'm very sorry that you missed some entries because of this.
The method for MM and trend analysis is very clear and nice. However, some point you described is not very clear to me: "His stops are 1 pip above/below the candle he uses for his stop + the spread. His entry is 1 pip above/below his entry point. " Even after reading the document you attached, I still don't know what is the "entry point" and what is the "candle he uses for his stop".
Please DS, if you have free time, not affecting your trading.
Quoting deepsouth
Xecret,
This is a doc I put together for myself when learning to trade the mint.
Under the second bullet #2, I mention what Harold looks for. His stops are 1 pip above/below the candle he uses for his stop + the spread. His entry is 1 pip above/below his entry point. He then uses that total pip count from stop to entry as his TP. Keep in mind the note at the bottom of the page; The TP is set but he is always aware of the most recent location that price had a reaction. It becomes discretionary at this point based on the reaction you see.

Once...
  • #1,130
  • Jan 5, 2009 10:25pm Jan 5, 2009 10:25pm
Quoting forexweasel
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.
hi
Attached Image
  • #1,131
  • Jan 5, 2009 11:24pm Jan 5, 2009 11:24pm
I believe this is an example of how the three timeframes can be used together to manage a trade. (I used 4 timeframes in total including H1)

Entry is circled on M2 chart...candle eats candle by 2 pips...moving averages lined up nicely, preceded by an engulfing bearish candle. Had already tested prior day low 3 times and rejected each time....I was thinking good bet is would pass thru this time because of quick move down. Trade went positive very quickly. Attached a fib tool to the most recent swing high/low and was initially looking for 161.8 as target. Price struggled a bit at S1...what kept me in the trade was the amount of the retrace on M3...was about 1/2 way up the candle. I was betting it would go lower because of this and moved stop to breakeven.

Doji candle (Not sure what kind) formed on M8....so I'm thinking a big push up or down....but I'm thinking down. Blew thru 161.8 fib level quite easily and moved stop to +20...then +30. Blew by T1 which is 2.000 on the fib tool, not actually a fib number.

The other item that influenced my bias for the trade was a doji candle on H1 followed by a quick move down...I attach a pic of that as well.

Was up over 60 pips at one point and that's a pretty good move for asian session. Closed somewhere in the circle on the M8 chart for +58....didn't like price action and target of 50 was surpassed.

Two EJ trades on the session...+14 and +58.

Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 67 KB
Attached Image
  • #1,132
  • Jan 5, 2009 11:58pm Jan 5, 2009 11:58pm
Here is my fib tool....and how I have changed it. The only actual fib numbers on it are 161.8, 261.8 and 423.6...I then have 0(Stop),.50,1.00(Entry),2.00(T1),3.00(T2),4.00(T3) and what you can't see on the chart is 5.0(T4), 6.00(T5), 7.00 (T6) and 8.00(T7).

After I enter a trade I attach the fib tool....it goes on the most recent swing high/low and i like it on M8 because for me the higher timeframe always gives a better perspective on what is happening.

I use if as a guide for moving stops. I never put stops on exactly the target lines....see how often price hits the lines exactly...so I give it a few pips plus spread.

I almost always move my stop to breakeven at +10 or +15. From that point forward I move based on the fib lines....so it forces me to actively manage the trade that way...rather that set a fixed amount or a trailing amount.

Cheers
CanuckCT
Attached Image (click to enlarge)
Click to Enlarge Name: GU.GIF Size: 20 KB
  • #1,133
  • Jan 6, 2009 12:00am Jan 6, 2009 12:00am
Quoting Gajowy
Hi !

is such an indicator available in MT4,
which labels the following on the chart :
higher high
higher low
lower high
lower low

I found that Ninja Trader has something like that:

http://www.forex.nawigator.biz/dysku...les/eu_554.png

There is indi for MT4: SuperSR7
[left]Can someone with knowledge of the language mql could write/change this indicator with location of HH / HL or LH / LL on the chart?

[left]Price Action is something new for me and at the beginning of my work with ATM system small suggestions on the chart would...
Hey mate,

You could probably try Fractals under Bill Williams in MT4 - maybe that might help

Cheers,
  • #1,134
  • Jan 6, 2009 12:54am Jan 6, 2009 12:54am
Quoting Pip Hunter
Is there still a problem with the Skype chat room? Room still always showing no participates. Thanks!
Try to update your Skype version or send me your Skype name on my PM.
Will try to help .
I'm using Google Translator.
  • #1,135
  • Jan 6, 2009 1:13am Jan 6, 2009 1:13am
Quoting CanuckCT
Here is my fib tool....and how I have changed it. The only actual fib numbers on it are 161.8, 261.8 and 423.6...I then have 0(Stop),.50,1.00(Entry),2.00(T1),3.00(T2),4.00(T3) and what you can't see on the chart is 5.0(T4), 6.00(T5), 7.00 (T6) and 8.00(T7).

After I enter a trade I attach the fib tool....it goes on the most recent swing high/low and i like it on M8 because for me the higher timeframe always gives a better perspective on what is happening.

I use if as a guide for moving stops. I never put stops on exactly the target lines....see...
Can you post that fib tool?
  • #1,136
  • Jan 6, 2009 1:55am Jan 6, 2009 1:55am
Quoting CanuckCT
Here is my fib tool....and how I have changed it.
Cheers
CanuckCT
Looks great on this image CanuckCT!
Trading S/R with PA only. No indicators anymore!
  • #1,137
  • Jan 6, 2009 2:23am Jan 6, 2009 2:23am
I took the trade at the ellipsis below. If I would've been up and not taking a nap, I could've gotten in on the big move earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 20 KB
  • #1,138
  • Jan 6, 2009 4:23am Jan 6, 2009 4:23am
Quoting jdcompute
I took the trade at the ellipsis below. If I would've been up and not taking a nap, I could've gotten in on the big move earlier.
No regrets JD, there is always another one along a bit later. That was a couple of hours ago. Where did it go to? How many pips did you bank?
  • #1,139
  • Jan 6, 2009 5:13am Jan 6, 2009 5:13am
Quoting Gajowy
Try to update your Skype version or send me your Skype name on my PM.
Will try to help .
Skype worked fine yesterday but now all I see is yesterday's history. Reloaded it all but no change. Any advice please?

Skype name is rorieu

R
  • #1,140
  • Jan 6, 2009 5:39am Jan 6, 2009 5:39am
It's MT4's fib tool....after you attach it, change properties...add new levels, delete the ones you want to exclude...voila. Next time u use it, your settings will be there.
Cheers
CanuckCT

Quoting jdcompute
Can you post that fib tool?
4 traders viewing now