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Part Time Wealth Building Trading System - Weekly Scalping

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  • 1 8687888990 Page 91
  • 1 888990 Page 91
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  • Post #1,801
  • Quote
  • Aug 30, 2010 2:50pm Aug 30, 2010 2:50pm
  •  deuce
  • | Joined Jul 2008 | Status: Member | 178 Posts
Is anyone is still trading this system? I think a major improvement could be made by using previous weeks volatility as a guide to determine entry distance from opening price and SL.
 
 
  • Post #1,802
  • Quote
  • Sep 5, 2010 12:03pm Sep 5, 2010 12:03pm
  •  Saintsurfer
  • Joined Aug 2009 | Status: Member | 686 Posts
This method might work on the long run quiet nisely,just it is maybe a good idea to use stop depending on ADR . 30 persent of ADR 10 for example. And move the amount risked in profit once more then 100-150 in profit. It would help to have very small drowdown. It is not a dead method.
 
 
  • Post #1,803
  • Quote
  • Nov 1, 2010 6:37pm Nov 1, 2010 6:37pm
  •  Ady
  • | Joined May 2009 | Status: Junior Member | 3 Posts
Quoting deuce
Disliked
Is anyone is still trading this system? I think a major improvement could be made by using previous weeks volatility as a guide to determine entry distance from opening price and SL.
Ignored
Just wondering is it anybody still on this forum?
 
 
  • Post #1,804
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  • Dec 18, 2010 10:20am Dec 18, 2010 10:20am
  •  whatfx
  • | Joined Jun 2010 | Status: The Villain | 2,565 Posts
is this method still working or has another one bitten the dust ?
 
 
  • Post #1,805
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  • Jan 27, 2011 2:23pm Jan 27, 2011 2:23pm
  •  Saidar
  • | Joined Apr 2010 | Status: Member | 209 Posts
Quoting whatfx
Disliked
is this method still working or has another one bitten the dust ?
Ignored
Another one always bites the dust, don't think there is a strategy that will work forever
 
 
  • Post #1,806
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  • Apr 24, 2011 11:50pm Apr 24, 2011 11:50pm
  •  rcastillow
  • | Joined Jan 2009 | Status: Junior Member | 1 Post
Quoting tkimble
Disliked
Yes, TK has returned...
Ignored
Hi TKimble,
Been using your part time wealth building trading system for a while now. Have there been any updates to how you are using the system over the last few years.
 
 
  • Post #1,807
  • Quote
  • Jun 9, 2011 4:52pm Jun 9, 2011 4:52pm
  •  tkimble
  • | Commercial Member | Joined Nov 2006 | 488 Posts
Thanks to all for your continued comments be they supportive or critical. I intentionally retreated from all chat rooms to focus on a much more simplistic approach which eliminates all indicators and focuses on the only variable that we are certain of as a trader which is the current price. I have developed and employed a very simple system which is by far the most easiest to trade, uses daily bar charts and is very profitable. I just recently began offering my services to investors after 25 years of private trading. My results can be viewed at www.interestratefunding.com. I will not be sharing this trading practice but again wanted to thank everyone for their emails...
TK
 
 
  • Post #1,808
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  • Jun 16, 2011 4:25pm Jun 16, 2011 4:25pm
  •  tdion
  • Joined Nov 2005 | Status: EURUSD Quant FREAK | 3,197 Posts
YES!!!!! tkimble is still active, one of the original FF innovators that I admire much.
 
 
  • Post #1,809
  • Quote
  • Jun 17, 2011 9:35am Jun 17, 2011 9:35am
  •  sasha100
  • | Joined Aug 2009 | Status: Member | 21 Posts
It's nice to see you back, tkimble!
 
 
  • Post #1,810
  • Quote
  • Aug 6, 2011 11:15pm Aug 6, 2011 11:15pm
  •  vansltz
  • | Commercial Member | Joined May 2011 | 12 Posts
I've earned a lot from your system, so exciting! it functions well in recent markets!

Quoting tkimble
Disliked
Thanks to all for your continued comments be they supportive or critical. I intentionally retreated from all chat rooms to focus on a much more simplistic approach which eliminates all indicators and focuses on the only variable that we are certain of as a trader which is the current price. I have developed and employed a very simple system which is by far the most easiest to trade, uses daily bar charts and is very profitable. I just recently began offering my services to investors after 25 years of private trading. My results can be viewed at...
Ignored
 
 
  • Post #1,811
  • Quote
  • Jul 24, 2013 7:37pm Jul 24, 2013 7:37pm
  •  fffx
  • | Joined Jul 2006 | Status: Member | 96 Posts
First of all my compliments to tkimble for starting a very simple and interesting thread. My observation on the weekly scalping system is that instead of putting limit orders 50 pips away from the weekly close, open the trade with market order in the direction of the closed weekly candle on Monday morning with 100 pips stop and reverse, again with open TP. Close the trade at Friday closing time. Maximum draw down possibility is 200 pips incase of a choppy week, whereas the gain could be anything depending on the strength of the trend.
 
 
  • Post #1,812
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  • Aug 8, 2013 3:34pm Aug 8, 2013 3:34pm
  •  Ljuk
  • | Joined Aug 2013 | Status: Junior Member | 1 Post
I like this thread/idea a lot.

I've looked through the whole thread to see if anyone has made an EA for this but couldn't see one. Does one exist? Or could one be coded perhaps....for the original method and fffx's? I'm not usually a massive fan of EAs but i think for this to work consistently it needs to be done on multiple pairs at once so that some will be chopped around but some will shoot off in one direction for the week. It will be quite hard to do it manually and watch for the original system, maybe easier manually for fffx's suggestion.
 
 
  • Post #1,813
  • Quote
  • Sep 12, 2013 4:23am Sep 12, 2013 4:23am
  •  Ted_B
  • | Joined Sep 2013 | Status: Junior Member | 1 Post
Quoting Ljuk
Disliked
I like this thread/idea a lot. I've looked through the whole thread to see if anyone has made an EA for this but couldn't see one. Does one exist? Or could one be coded perhaps....for the original method and fffx's? I'm not usually a massive fan of EAs but i think for this to work consistently it needs to be done on multiple pairs at once so that some will be chopped around but some will shoot off in one direction for the week. It will be quite hard to do it manually and watch for the original system, maybe easier manually for fffx's suggestion....
Ignored

Hi Ljuk,

If you look near the top of the page, there is a paperclip symbol (for all thread attachments) to the left of the subscribe button. By clicking on that, you will find an EA called TKimble Weekly Scalping. I can't say how well it works but you can check the post associated with it to find out more.

I am new to trading and am still experimenting with my own strategy on a demo. I totally agree with you that trading with multiple pairs could help offset choppy conditions in a given pair and result in a net profit. I am manually demo trading with 5 pairs right now using a similar idea to this weekly strategy. I can't say much about it except the past 3 weeks of trading have been profitable at least partly for the reason you have pointed out.
 
 
  • Post #1,814
  • Quote
  • May 14, 2015 11:22am May 14, 2015 11:22am
  •  leancuisine
  • | Joined Jul 2014 | Status: Member | 38 Posts
I know it has been a year and a half since the last reply, but is anyone still trading this system?

It seems like market conditions has changed, and it is back to being profitable. I've been trading it this week and my GBP/USD is up 296 pips, of course after one stop loss (-60 pips), so far up 236 pips in under a week. I will be closing the trade tomorrow as stated in the original strategy.

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  • Post #1,815
  • Quote
  • Jul 29, 2015 6:04am Jul 29, 2015 6:04am
  •  ashg1985
  • | Joined Jul 2015 | Status: Junior Member | 1 Post
Quoting tkimble
Disliked
{quote} Your subtle comment about no emotions is key to successfully trading this system and any system for that matter. I have found that my most successful trading efforts are those that are emotion free. This is a very difficult state of mind to achieve and is made so much easier using stringent money management techniques. Like in life, people on this thread have rehosted a very simple weekly scalping system into various iterpretations. Some have try to use a four hour chart to explain different entry and exit strategies. I have intentionally...
Ignored
Hi mate, just one quick point, this is an old post and you may not reply, and this question may already have been asked, but if you do as above, and you order for buy is triggered, and you trade gets stopped as it drop back 30 pips, (your sell order will be at previous week close at this point), but the question is, do you re create that buy order back to 50 pips above previous weeks close, to re enter, i.e keep re entering until the market holds in one direction ?
 
 
  • Post #1,816
  • Quote
  • Jan 22, 2017 10:40pm Jan 22, 2017 10:40pm
  •  NormanA
  • | Joined Jan 2017 | Status: Member | 3 Posts
Hi TKimble,

Thanks for sharing your system.

If you will, please explain how you go about selecting a pair. If I remember correctly, you said you prefer volatile pairs. What other filters do you use?

Thanks,
Norm
 
 
  • Post #1,817
  • Quote
  • Feb 25, 2017 7:38pm Feb 25, 2017 7:38pm
  •  NormanA
  • | Joined Jan 2017 | Status: Member | 3 Posts
Hi TKimble or anyone else knowledgeable on this question,

Your system requires trading 10 minutes after the New York open. Where I am, that's 2AM or 3AM depending on time of year. I tried it one night, and it almost killed me. It was torture pushing myself through my job that day. If I were to try your system at some other hour of the day - hours after the New York open - how would you recommend I enter and then set the opposite trade? 50 pips beyond the Friday close doesn't seem relevant in this case.

Thank you!
Norm
 
 
  • Post #1,818
  • Quote
  • Oct 20, 2018 10:05pm Oct 20, 2018 10:05pm
  •  Erebus
  • Joined Jul 2011 | Status: Member | 7,007 Posts
Quoting sonicdeejay
Disliked
BTW..when the market open for the start of the week?? I live in Time Zone GMT +8 ! Thx in advance!!
Ignored
Really?

You have come a long way since.....

Maximize wins, minimize loss, stay in the game as long as you can
 
 
  • Post #1,819
  • Quote
  • Last Post: Dec 20, 2019 7:28pm Dec 20, 2019 7:28pm
  •  Izita
  • | Joined Dec 2019 | Status: Member | 18 Posts
Hi Guys
Does anyone trade this system anymore?
Seems to me sometimes this system could get destroyed sometimes for weeks on end?
Although at other times I can see it going nicely.
I would love to hear if anyone still trades this system and how have they been going with it>
Thnks very much in advance.
 
 
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