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the key to the mint

  • #4,921
  • Edited 6:21am Mar 31, 2009 6:09am | Edited 6:21am
A question for the guys using MT4 for trading this method (5min):

How do you calculate your exact Lot-Sizes and set your sl/target for the fast 5min execution? I know the theory, but I am currently unable to use it in practice.

I know some scripts which can help me, but what I need is a big hint how to determine really fast the TP and SL points and set the Lots exactly as intended (Lotsize depends on risk. If risk is fixed, Lot size changes with every trade as we have always different pip-size and account-size)

For me, the easiest would be a script which lets me enter the %risk and the point2-point3 pip distance which I measure from the chart. It then adds the 1pip on each side and the spread and then sets the Lotsize & SL/TP dependend to that info.
I'd buy/sell then either by pressing a buy or sell button (market order) or by entering the stop order price (which I cannot do here as MT4 will not allow me to enter Pending orders under 50pip distance)..

Please share your methods! thanks. Lowen
  • #4,922
  • Mar 31, 2009 6:34am Mar 31, 2009 6:34am
Hi Lowen,

Are u trading in live or demo account?


Thanks

Quoting Lowen
does your candle close at gmt00? which bro.kers do?
well on the other hand it can't be a big problem if my day turns over 2 hours earlier.
(btw it's 11pm here when it does)
  • #4,923
  • Mar 31, 2009 6:39am Mar 31, 2009 6:39am
Quoting forexmad
Hi Lowen,

Are u trading in live or demo account?


Thanks
demo
  • #4,924
  • Mar 31, 2009 7:58am Mar 31, 2009 7:58am
Quoting forexmad
I understand that this thread is to discuss only KTM. Since the chart is here, I just want to ask some doubts about Divergence. You connected LH's in the price, then need to look HH in the oscillator to spot hidden divergence. But in the chart, u connected HL in the oscillator.
Please explain ..
you are quiteright forex mad. the chart does not illustrate strict divergence. it is a trend continuation from an earlier divergence. in my experience this setup, nearly always leads to a further downward move.

H - LH in price, and H- LH in oscillator works too. i also improvise.
peace

hypnos63
  • #4,925
  • Mar 31, 2009 8:10am Mar 31, 2009 8:10am
this is to the dude that sent me an email re: my posts here.

please pm me on forexfactory and i will assist anyway i can.

hypnos63
  • #4,926
  • Mar 31, 2009 5:01pm Mar 31, 2009 5:01pm
as i said before if you want to have same daily chart readings as me download gft dealbook i only usd odl to demonstate trades back in the day we were in tradingroom chet now since gmt time starts a hour later i still begin trading 1 1/2 before then so i look at the daily candle and see if it will hold and if yes look for setups today eurjpy and gbpusd long
  • #4,927
  • Mar 31, 2009 8:32pm Mar 31, 2009 8:32pm
Quoting harold4x
as i said before if you want to have same daily chart readings as me download gft dealbook i only usd odl to demonstate trades back in the day we were in tradingroom chet now since gmt time starts a hour later i still begin trading 1 1/2 before then so i look at the daily candle and see if it will hold and if yes look for setups today eurjpy and gbpusd long
Thanks for the response Harold.
  • #4,928
  • Edited 9:08am Apr 1, 2009 1:19am | Edited 9:08am
Quoting harold4x
today eurjpy and gbpusd long
yes thx harold. I also can confirm these..
EDIT: sorry cannot confirm gbpusd.

btw yesterday was a bit slow.
  • #4,929
  • Apr 1, 2009 1:28am Apr 1, 2009 1:28am
here is a current chart i am using.

the high is 14777 and the low i chose was 13843.
its about 2 weeks wide.

gives excellent S&R to use with key to the mint.

peace

hypnos63
Attached Image (click to enlarge)
Click to Enlarge Name: 4 hr rectangle s&r.gif Size: 28 KB
  • #4,930
  • Apr 1, 2009 9:31am Apr 1, 2009 9:31am
Hey,
on eurjpy 5min we just had a retracement of approx. 70pips, and two (now outdated) 1-2-3's.
Just the question, would the 2nd (blue) 1-2-3 I have drawn be valid after there has been a lower 1-2-3 (red) before?

I feel it is valid, but not so nice that I'd have to go for it with full risk. What do you say?

Attached Image
  • #4,931
  • Apr 1, 2009 3:47pm Apr 1, 2009 3:47pm
bullseye lowen if you have a 123 and it trigerrs but the rsi and or ema's dont comfirm and then another 123 follows like the one tyou shown thats a go
  • #4,932
  • Apr 1, 2009 4:37pm Apr 1, 2009 4:37pm
hi,
I just had a look at GBPUSD Chart of April, 1st.
Assuming that Daily trend was upwards, I did not see any possibilities to enter according to the rules.
This is a pity as it was trending quite nice.

Is this happening often, that we have a good trend over the day, but cannot enter? Is this normal for the system (in other words - do I just have to have more patience)?

Lowen

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_m5_20090401.png Size: 47 KB


btw my FF is ugly slow. Am I alone?
  • #4,933
  • Apr 1, 2009 4:50pm Apr 1, 2009 4:50pm
if you had same broker as me the 555 gmt candle would be point 2 and the 600 would be point 3 on yours it took out low that 123 was beginning of the upmove you are talking about
  • #4,934
  • Apr 1, 2009 4:55pm Apr 1, 2009 4:55pm
I appreciate your support harold.

yeah I can see which you mean (@daily low, 3 consecutive candles).
so nothing to worry about if we don't find one in such trends?
  • #4,935
  • Apr 1, 2009 5:02pm Apr 1, 2009 5:02pm
didnt understand that question lowen i dont look at candles on daily i was telling u about a 123 in the gbpusd on 5 min chart
  • #4,936
  • Apr 1, 2009 5:09pm Apr 1, 2009 5:09pm
Quoting harold4x
didnt understand that question lowen i dont look at candles on daily i was telling u about a 123 in the gbpusd on 5 min chart
The 123 you and I talk about was on the 5min chart, but it also was the low of the day. thats what I'm talking about.

my Q just was that I'm concerned that I didnt get any signal all day, and the last days it also seemed to be very slow.
As I just began with this method and not too many people visit this thread I start to worry very easy that it doesn't work out anymore or whatever...
i guess that's just me.
  • #4,937
  • Apr 1, 2009 5:16pm Apr 1, 2009 5:16pm
since trading is about how much money you make and not how many pips you get having 10-13 trades amonth is plenty to make money if you win 9 and lose 4 you are +5 wins at 3-5% thats 15-25% where you going to get a return like that because i havent been posting like i used to be most of the guys who were making money are still making money they just dont need to post
  • #4,938
  • Apr 1, 2009 5:21pm Apr 1, 2009 5:21pm
Quoting harold4x
since trading is about how much money you make and not how many pips you get having 10-13 trades amonth is plenty to make money if you win 9 and lose 4 you are +5 wins at 3-5% thats 15-25% where you going to get a return like that because i havent been posting like i used to be most of the guys who were making money are still making money they just dont need to post
yes and I think I have to begin to stick to something. I wandered around whole forex country for about a year now, without concentrating on one single thing for more than 2 month.

good to know you still use this...
I'd be glad if the thread would come to live again a bit more, some veterans showing some of their trades or sth.. & discussing. just to see this is a living thing.
  • #4,939
  • Apr 1, 2009 5:31pm Apr 1, 2009 5:31pm
just look at all the charts i have posted till you turn blue and you will see the regularity of this deal
  • #4,940
  • Edited 7:05pm Apr 1, 2009 6:55pm | Edited 7:05pm
we have one here.
it was not a super duper trade as there was no real trend for several hours, but we had higher lows and a 40pip retrace. One also has to watch out for the very near Daily PivotPoint Levels, but price went through after short retrace.
We also had support from a big trendline, and in RSI you can see a nice divergence.
Trade worked out..

Attached Image


Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy_m5_20090402.png Size: 34 KB


I go to bed now, bye.
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