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Karmo's trading strategy trading GBP/JPY

  • #1,921
  • Aug 10, 2009 2:42am Aug 10, 2009 2:42am
Hi Karmo,
I have been studying this strategy for the last week and would like to thank you for sharing with us
  • #1,922
  • Aug 10, 2009 3:08am Aug 10, 2009 3:08am
Quoting karmostaji
We have a nice bull flag at the moment, price is above 4h/daily gann and both QQE's are crossed up still.. bullish looking chart to me..
Might a good entry be a 1h qqe cross up to go long?
  • #1,923
  • Aug 10, 2009 3:23am Aug 10, 2009 3:23am
Quoting Temps
Might a good entry be a 1h qqe cross up to go long?
Yup, that would be a good entry.
Trade what you see, not what you think.
  • #1,924
  • Aug 10, 2009 10:13pm Aug 10, 2009 10:13pm
Greetings All Good Trader!

Today I expected GJ bear trend as per my chart. Maybe I a bit crazy but this is what I see on my chart. 410pips down from broken TL blue color.


All the best to you. May all of us gain more green pips.


Best regards.

p/s : Master Karmo please comment.
Attached Image (click to enlarge)
Click to Enlarge Name: GJ - 11.08.GIF Size: 37 KB
  • #1,925
  • Aug 11, 2009 10:23pm Aug 11, 2009 10:23pm
Quoting newkidfx
Greetings All Good Trader!

Today I expected GJ bear trend as per my chart. Maybe I a bit crazy but this is what I see on my chart. 410pips down from broken TL blue color.


All the best to you. May all of us gain more green pips.


Best regards.

p/s : Master Karmo please comment.

I'm still holding my short from 159.30 hope can reach TP5. My TP1 and TP2 already hit yesterday. As long tf4hr / daily price below ganhilo I'm bear bias, if trend go opposite way I already set my profit +sl. Anything can happen in forex.

Hope we all profit again today. Good luck.

Best regards
  • #1,926
  • Aug 12, 2009 3:46am Aug 12, 2009 3:46am
hi karmo thanks for your wonderful analysis all the best shadowplay
  • #1,927
  • Aug 17, 2009 11:36pm Aug 17, 2009 11:36pm
Hello Karmo, I just open up a live account & its funded with only 9K. I have read in the past what you wrote regarding proper money management.

I know you where once like me, starting out for the first time in the forex market. I wanted to ask you... With a small account, ($9,000) such as mines, what would be the maximum amount of mini lots you would begin trading? What's your advice for me?

Also, how large the account should be, before I can start trading Standard lots?

I know I should only risk 2% of the account... But I really would like your Advice regarding the maximum amount of lots.

Thanks in Advance.

Tony1
  • #1,928
  • Aug 18, 2009 1:08am Aug 18, 2009 1:08am
Quoting Tony1
Hello Karmo, I just open up a live account & its funded with only 9K. I have read in the past what you wrote regarding proper money management.

I know you where once like me, starting out for the first time in the forex market. I wanted to ask you... With a small account, ($9,000) such as mines, what would be the maximum amount of mini lots you would begin trading? What's your advice for me?

Also, how large the account should be, before I can start trading Standard lots?

I know I should only risk 2% of the account... But I really would like...
Hi Tony1,

I would advise you to trade 1 mini lot, if you win the trade with lets say 100 pips, then increase to 2 lots, if you win that too, then 4 mini lots, and if you win again then double it again and stay at 8 mini lots or you can increase to 1 standard lot, if you lose at any point, go back to 1 mini lot.

This way you risk little ($100) but if you get on a nice winning streak, you could get a nice reward.

Please do not start by risking 5%-10% or more because you will lose your account quickly if you lose just a couple of trades in a row.
Trade what you see, not what you think.
  • #1,929
  • Aug 18, 2009 3:02am Aug 18, 2009 3:02am
Hi Karmo,

There you are. How are you bro?

What your opinion for this week GJ?
  • #1,930
  • Aug 18, 2009 3:17am Aug 18, 2009 3:17am
Quoting newkidfx
Hi Karmo,

There you are. How are you bro?

What your opinion for this week GJ?
Hey newkidfx,

I'm good thanks, yourself?

GJ has bounced off weekly gann, 4h QQE n gann just turned bullish, so I think we could be heading up a bit and if daily crosses, then more bullishness to come..
Trade what you see, not what you think.
  • #1,931
  • Aug 18, 2009 3:30am Aug 18, 2009 3:30am
I'm great Karmo thanks,

I'm targeting 61.8 at 156.80 not too sure for today PA. Today GJ hit my sl 2 times when I'm selling lol. But it's ok its part of the trading.

Hope we can see bear soon...again

Best regards




Quoting karmostaji
Hey newkidfx,

I'm good thanks, yourself?

GJ has bounced off weekly gann, 4h QQE n gann just turned bullish, so I think we could be heading up a bit and if daily crosses, then more bullishness to come..
  • #1,932
  • Aug 18, 2009 3:53am Aug 18, 2009 3:53am
Quoting karmostaji
Hi Tony1,

I would advise you to trade 1 mini lot, if you win the trade with lets say 100 pips, then increase to 2 lots, if you win that too, then 4 mini lots, and if you win again then double it again and stay at 8 mini lots or you can increase to 1 standard lot, if you lose at any point, go back to 1 mini lot.

This way you risk little ($100) but if you get on a nice winning streak, you could get a nice reward.

Please do not start by risking 5%-10% or more because you will lose your account quickly if you lose just a couple of trades in a...
Thanks Karmo, I appreciate the Advise, I only plan to risk 2% ...It's great to have a Seasoned Trader, who have already walked on this path, I am about to walk. You stated $100 would be all I risk at one time.

Question: If I am going for only 50 pips per trade Target at a time.. Would that be 2 mini lots at a time? (since 50X2 = 100) or would that still be 1 mini lot?

Thanks again for your assistance in this matter.

Tony1
  • #1,933
  • Aug 20, 2009 11:33pm Aug 20, 2009 11:33pm
Good day to Mr Karmo & other traders

I am still new in here & in forex. I hope I will gain knowledge here.
Thanks in advance to all

Pasti
  • #1,934
  • Sep 5, 2009 11:10pm Sep 5, 2009 11:10pm
thanks for the strategy Karmo,I have stayed away from cable yen because of the high spread.I know the pair really moves but I am new and
still have a little fear.I just downloaded a demo from FXCH out of London and they have a 1 pip spread for all pairs and that includes gbp/jpy.from all the research I have done their spreads are the best.I don't know anything about them except they are ecn.I hope this can help you or anyone else.I am new to forex but not to the world.

Best regards Trader vick
  • #1,935
  • Sep 6, 2009 12:57am Sep 6, 2009 12:57am
Hello Trader Vick... in regards to FXCH, is good you have a demo account with them, but by all means DO NOT OPEN A LIVE ACCOUNT.. you can read about all the warnings from traders here..

http://www.forexpeacearmy.com/public...orex-swiss.com

Much success to you.

Quoting trader vick
thanks for the strategy Karmo,I have stayed away from cable yen because of the high spread.I know the pair really moves but I am new and
still have a little fear.I just downloaded a demo from FXCH out of London and they have a 1 pip spread for all pairs and that includes gbp/jpy.from all the research I have done their spreads are the best.I don't know anything about them except they are ecn.I hope this can help you or anyone else.I am new to forex but not to the world.

Best regards Trader vick
  • #1,936
  • Sep 7, 2009 4:07am Sep 7, 2009 4:07am
Is that a pin bar?
  • #1,937
  • Sep 7, 2009 4:35am Sep 7, 2009 4:35am
Quoting Tony1
Is that a pin bar?
It looks like one to me on IBFX MT4 platform, weekly bar
Trade what you see, not what you think.
  • #1,938
  • Sep 7, 2009 5:15am Sep 7, 2009 5:15am
Price has turned bullish, if price closes above daily gann hilo today then we shall see more bullishness this week
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 20 KB
Trade what you see, not what you think.
  • #1,939
  • Sep 7, 2009 6:33am Sep 7, 2009 6:33am
Nice to see you back Karmo I've joined a group that is trading mainly GY and EY using renko bars .. just going for small pips at a time, but they accumulate.
I also watch the GY for longer term swing trades and I think a strong bullish run may begin soon. So I am glad you are sharing your wisdom with us.
******************* I'd rather make money than be right.
  • #1,940
  • Sep 28, 2009 2:40am Sep 28, 2009 2:40am
Quoting 4xStar
Nice to see you back Karmo I've joined a group that is trading mainly GY and EY using renko bars .. just going for small pips at a time, but they accumulate.
I also watch the GY for longer term swing trades and I think a strong bullish run may begin soon. So I am glad you are sharing your wisdom with us.
Hello there
Trade what you see, not what you think.
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