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the key to the mint

  • #4,941
  • Apr 2, 2009 3:26am Apr 2, 2009 3:26am
I've been trading this system live for two months now and I am up over 50% on my account. I trade all three sessions though. Regardless, this is a profitable system and the bulletproof mindset is what makes you successful.

-nnd
  • #4,942
  • Apr 2, 2009 1:52pm Apr 2, 2009 1:52pm
Quoting nnd_trader
I've been trading this system live for two months now and I am up over 50% on my account. I trade all three sessions though. Regardless, this is a profitable system and the bulletproof mindset is what makes you successful.

-nnd

Great stuff well done
When you say " this is a profitable system and the bulletproof mindset is what makes you successful" what do you actually mean by bulletproof mindset.

Thanks
  • #4,943
  • Edited 3:23pm Apr 2, 2009 3:05pm | Edited 3:23pm
hello,
if you were looking for Longs on gbpusd or eurjpy in the last few hours, it's not the best time as they are quite overbought and move @ daily R3 Pivot Level.
You also will find some regular & hidden Divergences, also if you scale out and watch daily and H1 very interesting.

Price tries to go back atm. I would not go for long currently.

Here's the example (5min) of EURJPY with one 1-2-3 where stoch just touched o/b and also one screenshot (H1) showing the resistance level of several march-highs, also H1 being o/b there as u can see.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy_m5_20090402b.png Size: 27 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy_h1_20090402.png Size: 38 KB

btw if you wonder about my different pivot lines: I use 2 sets, one is broker time (gmt+2) and the other is EST.
both have some value, sometimes the price likes the one sometime the other sometimes both. seldom none.
Lowen
  • #4,944
  • Apr 2, 2009 4:14pm Apr 2, 2009 4:14pm
well even up here we just had a positive 1-2-3.
But as explained in my last post, I would not have taken it.

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy_m5_20090402c.png Size: 23 KB
  • #4,945
  • Apr 2, 2009 4:23pm Apr 2, 2009 4:23pm
BTW: My daily KTM signals show LONG for all pairs the upcoming day.
harold you say if I talk to much
  • #4,946
  • Apr 2, 2009 5:11pm Apr 2, 2009 5:11pm
hey guys watch out where you take these 123's we want price to trend in opposite direction remember buy low sell high
  • #4,947
  • Apr 3, 2009 12:57pm Apr 3, 2009 12:57pm
Quoting blackdog
Great stuff well done
When you say " this is a profitable system and the bulletproof mindset is what makes you successful" what do you actually mean by bulletproof mindset.

Thanks

What I mean is that you cannot deviate from the plan. Like expert traders say, "Trade the plan and plan the trade". There are so many circumstances that reroute us traders away from our plan; emotions, market conditions, trading times, etc. We then find ourselves to have little or no success and begin blaming a system for its flaws when in fact it is the person who is trading who is flawed. There are master traders that trade $million accounts with just a MACD and Stoch, what does this say? Stay on the right track, without breaking a strict set of RULES, and you will have a bulletproof mindset that will allow you to become successful with many trading systems, especially KTM.

One book I highly recommend reading is "Beat the Odds in Forex Trading" by Igor Toshchakov. Check Amazon.com or look for a copy on the net. This will put you in the right frame of mind, if you listen.


-nnd
  • #4,948
  • Apr 3, 2009 2:26pm Apr 3, 2009 2:26pm
Quoting nnd_trader
What I mean is that you cannot deviate from the plan. Like expert traders say, "Trade the plan and plan the trade". There are so many circumstances that reroute us traders away from our plan; emotions, market conditions, trading times, etc. We then find ourselves to have little or no success and begin blaming a system for its flaws when in fact it is the person who is trading who is flawed. There are master traders that trade $million accounts with just a MACD and Stoch, what does this say? Stay on the right track, without breaking a strict set...

Ok thanks for that
  • #4,949
  • Apr 5, 2009 10:27am Apr 5, 2009 10:27am
Hi Harold,
I'm not sure how your trading platform works with bid/ask, but I think the following does not differ. I'm using MT4.
Can you confirm the following procedures exactly?

for BUY:
-If I buy, I buy 1pip above price of point2.

-buy is at ASK-price (So I normally buy, before bid-price has even reached point2) - (by buying@ask, I pay the spread)

-TP is set according to SL, which is (point2-point3)+1+1 -but w/o spread, because we pay that with ask/bid-difference?

-When I close that trade, it closes at BID-price



for SELL:
-If I sell, I sell 1pip below price of point2.

-sell is at BID-price

-TP is set according to SL, which is (point3-point2)+1+1 -but w/o spread, because we pay that with ask/bid-difference?

-When I close that trade, it closes at ASK-price (here I pay the spread)



I need you (or any KTM-expert using MT4) to especially confirm the spread issue - as I understand, MT4 users don't have to add the spread beforehand as MT4 does handle that? I know I still have to care for tha max.24pips, sure..

Hope I have everything right here..
Lowen
  • #4,950
  • Apr 5, 2009 3:45pm Apr 5, 2009 3:45pm
its much easier if i say it if going long and point 2 is 1.1320 we enter at 1.1321/24 thats with spread added if point 3 is 1.1305 stop is 04 thats simple enough to determine that target is when price on chart reaches1.1344 thats the 20 pip difference and these are all bid charts when we sell principle is the same but a little diferent point 2 is 1.1305 and point 3 is 1.1320 so stop is 1.1321 plus spread of 3 so stop is 1.1324 remember when we sell we have to buy it back when we enter 1 pip below point 2 which would be 04 we go for 20 pips so our tatrget is when price actually has to go further than 20 to buy it back so target is 84 but price has to go to 81 to buy back at 84
  • #4,951
  • Apr 5, 2009 4:56pm Apr 5, 2009 4:56pm
indeed now I got it!
  • #4,952
  • Apr 7, 2009 12:34am Apr 7, 2009 12:34am
E/J and G/U both long today, no trade on the other pairs.
  • #4,953
  • Apr 7, 2009 7:18am Apr 7, 2009 7:18am
while the prices run down currently, do you still look for long trades, or will u take a break?
I mean we have D1 long signal, but if I get a 5min signal it would mean awaiting a bigger turning point to the upside again.
But not sure about probability of such in daily downtrends like these..

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_m30_20090407.png Size: 26 KB
  • #4,954
  • Apr 7, 2009 12:07pm Apr 7, 2009 12:07pm
There was 1 E/J and G/U trade yesterday, but right now the market is in a correctional phase. G/U is still long, but still no real trend commitment just yet.
  • #4,955
  • Apr 8, 2009 3:45am Apr 8, 2009 3:45am
E/U and E/J both short and quite possibly for the rest of the week with G/U jumping aboard.
  • #4,956
  • Apr 8, 2009 3:48am Apr 8, 2009 3:48am
hey nnd,
i have e/u no trade & the g/u & e/j long
Survive & Preserve
  • #4,957
  • Apr 8, 2009 7:56am Apr 8, 2009 7:56am
Quoting andrewb7
hey nnd,
i have e/u no trade & the g/u & e/j long
yeah I have the same as you Andrew.

what about you? did u still look for longs at the retraces in my screenshot? I'm a bit unsure as this was not uptrend in my eyes, but we should look for long according to system. I want to understand what the veterans are doing here..

Cheers, Lowen
  • #4,958
  • Apr 8, 2009 3:44pm Apr 8, 2009 3:44pm
Quoting Lowen
yeah I have the same as you Andrew.

what about you? did u still look for longs at the retraces in my screenshot? I'm a bit unsure as this was not uptrend in my eyes, but we should look for long according to system. I want to understand what the veterans are doing here..

Cheers, Lowen
hi lowen,
yeah we still look for longs, thats what we want it to do, trend in the other direction, remember buy low sell high,sometimes there will be no trades but we have to be patient
andrew
Survive & Preserve
  • #4,959
  • Apr 8, 2009 5:01pm Apr 8, 2009 5:01pm
Quoting andrewb7
hi lowen,
yeah we still look for longs, thats what we want it to do, trend in the other direction, remember buy low sell high,sometimes there will be no trades but we have to be patient
andrew
ok understand. kinda..
well, thought we buy the retraces.
but what I understand this example right now is almost trying to buy at (hopefully) a reversal. which seems to me being a lower probability trade then (?)...
..On the chart I don't see the uptrend anymore we got signaled (from D1)
hope you got me..

I do understand it's by the rules, thou

Lowen
  • #4,960
  • Apr 8, 2009 6:31pm Apr 8, 2009 6:31pm
E/U, E/J, and G/U are all downtrending atm. Sell the end of rallies using 123.
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