Tiki Trader Trades

OK... the above USD/JPY trade finally hit target.... but oh so long time to wait.. a whole week for 30 pips

target hit @ 83.08

The GBP/JPY TT5 trade is still open

I know I know... I did not post yet about method of trading TT5... I am sorry.. I will do it soon.... naps have been longer than usual lately....

Finally the trade TT5 short from post 1352 has hit target.... I really dont like trades for 50 pips that take a week or more to hit.... its not really what TT5 is about... but ok... money in the bank now....

GBP / JPY short @ 133.50.. target hit @ 133.00

A long time ago I always kept score of how many pips I made and % added to my account.... I feel like doing that again.... it is not to boast, but just to keep some kind of track record....

Also it will show.... that although I usually only get 50 pips at a time and that does not seem like much... but it adds up quickly...

So.... since I started posting again a few weeks ago... I have 250 pips... my account balance was 157 K... it is now 171 K... thats an increase of just over 9%.... for 5 trades...


I think its ok....

If anyone is interested, I provide TRADE ALERTS via SMS message when I take my trades.... you can PM if you are interested... YES, I charge for the service, but not much...

OK... finally, I will talk a little bit about trading TT5

First of all... I dont think there are any real rules to it... In the beginning I called it TRADE TO THE 5.... the idea was to make trades towards the 5 ema at oppourtune times... get out of the trade when price hit the 5 ema... it works quite well... but I found that price often went close to the 5 ema then did not always hit it... AND as I mentioned somewhere above... as price gets close to the 5 ema, it can push or pull the 5 ema.... so LATER, I decided just to take my 50 pips when the time was ripe.... get my pips and run... but always trading TOWARDS the 5 ema... and so TT5.... TRADE TOWARDS THE 5....

Usually I traded the daily time frame... I also noticed that VERY often price will go towards the 5 ema at least 50 pips on a weekly time frame...

I dont always trade GBP / JPY ... but 95% of the time that is the pair I trade... It works so well for TT5... I dont often even look at any other pairs. I NEVER trade 4 hour or hourly time frame

TT5 is NOT a system that follows trends... it cares nothing about the TREND one way or the other.... I dont spend lots of time looking at charts.... a couple of minutes at a time only... usually only looking at the most recent few candles of the chart.

Three BASIC times to trade....

1. When a candle is EXTRA LONG and really far away from the 5 ema...

2. When a candle has closed and is gapped completely away from the 5 ema..

3. When Price action might suggest a good trade that goes towards the 5 ema.... maybe a pin bar for example...

I always only go for 50 pips.... make sure candles are a lot further than 50 pips away from the 5 ema. 50 pips will equal 1 to 2 % of my account... I DONT USE STOPS..... if you want to trade TT5, and YOU feel YOU must use stops, then it should be some kind of a catostrophic STOP far far away ( maybe 500 pips away OR MORE ) If you are scared to do this, then you probably shouldnt trade my way...

I use Oanda as broker only... Onada allows trading on the weekend which is when I will take trades based on weekly time frame. Also if you look back over my journal, you will see that often times I have already won a trade using Oanda, before the other brokers have even opened for the week...!!

Now lets see a weekly chart... GBP / JPY... The white boxes show good time to take a TT5 trade.... the purple indicator is my 5 ema...

If you look closely though at your weekly charts... you will see that there is rarely a week where price does not move at least 50 pips towards the 5 ema...

Now read the above post again and you can apply ALL to the daily time frame...

I try to look three or four times a day at the chart.... but I dont study it long... just look for long candles....

IF the candles is so long.... DON'T THINK... just make the trade... as in the daily chart here... that long long daily candle..... JUST TRADE IT.... no reason to think

Weekly time frame I wait until candle closes

Daily time frame I trade when the moment is RIGHT, but not necessarily when the candle has closed....

OK, gone are the days of those LOOOOOONG 400 pip daily candles on GNP / JPY.... but todays candle has now gotten pretty long... longer than average....

I go long here... towards the 5 ema.... @ 131.60.... target 50 pips @ 132.10...

OK LOVELY !!!! Target hit @ 132.10

Ahhhhh.... it's 5. 45 AM.... just got up.... had a long day of forex already ( almost 5 minutes ).... I say its time to take a nap.....

Thats 50 pips more for me.....

300 pips now..... another 2.2 % added to account...

I had seen the daily candle getting pretty long.... but it had not yet reached the bottom line of the bollinger bands... I thought about taking the trade then because I needed to go out for a while... but thought the candle just wasn't really long enough.. I thought by the time I came back the price already would have retraced.... but I was lucky and when I came home, price had moved below past the bottom of the bollinger bands.... That was good enough for me... ! Time to make the trade.... ! bollinger band lines are really support and resistance points and they often act like magnets for price.... so I thought GREAT... price will come back at least to the bollinger band...

Bollinger band is the only other indicator I use sometimes to help me decide to trade....

This trade went the way I really like TT5 to go... quick and easy... !!!

PERFECT
http://www.forexfactory.com/attachme...1&d=1298569521

As you can see, I should have made my usuaul TT5 trade on gbp/jpy based on weekly charts this week.... price has easily come back to the 5 ema....

Hey Tiki,
Thanks so much for the explanation. I wrote a lengthy reply a while back but my laptop crashed and haven't had much time since..... computers!

I'm sure you've heard it all before about not using stops so I'm not going to mention anything about that. I'm just curious about one thing though - would most of your trades been stopped out if you had a stop below / above the bar your trading or above / below some s&r not far away?

I can see the value in what your doing as price does seem to dance around the ema (or vice versa!). I'm just checking out the charts wondering if I can figure out a way of doing it with using stops somehow as I just don't feel too comfortable without one.

I was wondering if you could comment on this demo trade I took? I shorted the GBPJPY and took profit at the yellow line with my stop just above the red.


Any comments would be much appreciated!

Brummie... I am sorry.. I did not look at m journal since a few days back.. I did not see your post here....

I have a stupid thought that I know no one agrees with... and that is... if you put a STOP... price will just go to it as a magnet.... or... use a STOP, and you are sure to lose....

OK... I know the rule of putting the stop above the high or low recent candle... and thats ok, but that rule is based on other ideas I think... That is a price action rule... and it has good reasons... but price will go where ever it likes to go... YES, I think you will lose too often if you put your stops as you say... I say put the stop triple or more far away than you do.. if you dont feel comfortable, then trade smaller... at least until you feel something about TT5.... I like GBP/JPY because it will so often come back at least 50%.... so when the trades go against me... I will keep them anyway... unless I have some real reason to get out... although I trade mostly daily... and a weekly time frame, I still look at all the time frames and get a feel.... the onl exception will be.... those super duper long candles... the ones that dont happen so often anymore as they used to.... when they come around.... just trade... dont think twice...

I will let my account get 10% down before I get scared.... and I dont boast or say I know anything much.... and I KNOW what all say about STOPS, and I was always one of those people too.... but I have not lost a trade now in at least 15 months... I also dont trade so often... I am not out searching for the trades... when they come.. they come.... as you see my journal has not had anything posted to it in almost 2 weeks now...

Now I will go short here on GBP/JPY TT5 based from weekly chart towards the 5 ema.... the 5 is not so far away.. its not a special trade, and I really dont know where price goes here.... daily has a nice little pin bar on Alpari and in Oanda too... but that doesnt mean so much right here...

TT5 SHORT @ 133.81... target 50 pips to 133.31

I am also now watching this divergence coming up on EUR/USD.... I always still look for divergence trades according to Rob Bookers Arizona Rules... and almost always on EUR/USD.... it is not time yet for this... price has now passed above the blue 800 sma.... I will think about this trade when the signal lines start to cross on slow stoch... most likely price will go higher and trade target will be back to the 800 sma

Thanks again for the interesting reply - definitately has given me some food for thought.

I'll be keeping an eye on your journal

OHHH these back breaking hard days of forex are just going to kill me..

OK Target hit @ 133.31...

Price heading straight towards the 5 ema on weekly....

Now thats 50 more pips for me.. I dont know who lost theirs.....

350 pips now, and another 2.2 % added to my account... Now where's my pillow..???

OK.. I take a TT5 long here @ 131.77.... this is a good long candle for a change... not like the old days maybe, but for right now pretty good... I would have liked to catch it a little earlier when price was a little lower, but I was not home

Target 50 pips at 132.26.... towards the 5 ema on daily....

LETs GO...!!!

Price has now gone lower.. obvioiusly for quake and Tsunami in Japn

I open another TT5 LONG @ 131.07... target 50 pips to 131.57

OK.... 1st target hit @ 131.57.....

Thats 50 more pips in my pocket.. and about 2% more to my account... 400 pips now

So both of targets hit.