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5 PIPS - Only Five

  • #221
  • Oct 30, 2014 4:33am Oct 30, 2014 4:33am
Quoting tk5
me and some other have shared enough charts... regarding the other thread...thats not for showing your family. That thread is motivational, to inspire by exhibiting sucess in forex.

Ok i understand so what happens now ? shall we post charts the way we understand this ?

And my question about when to get out of a losing position please ?

Best regards
  • #222
  • Oct 30, 2014 4:34am Oct 30, 2014 4:34am
Quoting jgadefelth
{quote} Ok i understand so what happens now ? shall we post charts the way we understand this ? And my question about when to get out of a losing position please ? Best regards
you can get out by gut-feeling....or if it goes way against you..theres no fixed law about leaving.

best SL is 10 pips lower than low of your entrance candle..if you fell comfortable with it.
always draw trendlines
  • #223
  • Oct 30, 2014 4:36am Oct 30, 2014 4:36am
Quoting jgadefelth
{quote} Ok sounds great but was it something you feel you can do again and again and again or was it just luck ? what stoploss did you use if you used one ? Am sorry am not try to be rude here am just try to see if this trading method is serious or part of a joke... Best regards
Hi,

jes i can do it again. I don't enter blindly. I want to see a momentum candle away from the EMA, then i will enter into the small retrace towards the EMA. Additionally i'm watching past PA, what has been the direction of the last hours.
My SL goes above the high/low of the momentum candle.

You will have to practice to get experience. Equal wich way of trading you will choose, equal which system you will trade. And jes, you will have loosing positions. I feel comfortable using mainly Candlesticks with only one or two indis, but even this is something you have to find out by yourself. What makes you feel comfortable in your trading decisions?

Regards

Chriss
  • #224
  • Oct 30, 2014 4:43am Oct 30, 2014 4:43am
Quoting tk5
{quote} you can get out by gut-feeling....or if it goes way against you..theres no fixed law about leaving. best SL is 10 pips lower than low of your entrance candle..if you fell comfortable with it.

ok thanks it will be intresting to follow this thread and see how it will evolve.

What is whrong with mt4 is it the looks of it or is it a terrible software for execution or somethign else you dont like ?

Best regards
  • #225
  • Oct 30, 2014 4:46am Oct 30, 2014 4:46am
Quoting chrissfx
{quote} Hi, jes i can do it again. I don't enter blindly. I want to see a momentum candle away from the EMA, then i will enter into the small retrace towards the EMA. Additionally i'm watching past PA, what has been the direction of the last hours. My SL goes above the high/low of the momentum candle. You will have to practice to get experience. Equal wich way of trading you will choose, equal which system you will trade. And jes, you will have loosing positions. I feel comfortable using mainly Candlesticks with only one or two indis, but even this...

Thanks for your response, intresting how you make it work. It gives hope But you explanation and also the thread starters as i understand it makes the losing trades bigger in pips then the winners ? Or do you go for more then 5 pips tp ?

Also do you use other software then mt4 that tk5 dont like to mutch ?

Best regards
  • #226
  • Oct 30, 2014 5:07am Oct 30, 2014 5:07am
Quoting jgadefelth
{quote} Thanks for your response, intresting how you make it work. It gives hope But you explanation and also the thread starters as i understand it makes the losing trades bigger in pips then the winners ? Or do you go for more then 5 pips tp ? Also do you use other software then mt4 that tk5 dont like to mutch ? Best regards
I'm using mt4. I have tested also other software (dealbook, finesco, Streamster...) and i can't see any problem with mt4. I have no coding skills, but mt4 gives me enough recources to get all tools i need for trading - like here at ff. So this is a big benefit for me, which supports me to use mt4.

Sometimes i can take more pips, sometimes less. This mainly belongs to the market situation. If we are trending or not, how is the sentiment and the volarity. It's a lot of "market feeling" how me decide this. I can't give a "fix-rule" for this.

By the way, italien-bond-auction has started - carefull with running positions.


Chriss
  • #227
  • Edited 5:28am Oct 30, 2014 5:17am | Edited 5:28am
Alright.
I would like to clarify certain things:

1. This is not SCALPING system or tactic. It may look like scalping but its not.
scalping is when you scalp market like every 5-6 minutes even seconds..like a crazy too many trades even within 15 minutes. OK?
- In our case our action plan period is 1 hour...you earn particular number of pips during an hour. thats not scalping.

2. It's 20-25 pips per day mindset and strategy. Not 5 pips in a day OR 5-pips-as-it emerges-sometime-in a-day. So re-fix your mind.

3. There are only 3 indicators in it. not 101.

4. It won't work well with standard STP account with non-tight pips. It may work but only you will waste more nerves.

5. You must sit as cold as ICE in front of monitor! Iceberg.

6. It doesnt suggest opening small positions (unless you practice). It suggests opening at least 30K positions for each trade.
always draw trendlines
  • #228
  • Oct 30, 2014 6:02am Oct 30, 2014 6:02am
hello all. I zipped some of the conversations post 1-227, whichever i feel necessary to understand into tk5's mind and logic.

Enjoy!
Attached File(s)
File Type: zip tk5.zip   1.6 MB | 667 downloads
  • #229
  • Oct 30, 2014 6:13am Oct 30, 2014 6:13am
Appreciate redwed.
I made pdf version for easiness of me and all))
Attached File(s)
File Type: pdf tk5.pdf   1.6 MB | 1,981 downloads
always draw trendlines
  • #230
  • Oct 30, 2014 6:36am Oct 30, 2014 6:36am
tk5. Hello there!

Glad to see this 5 pip system. Will try to backtest it out in my free time.

One question. Why do you dislike metatrader so much? You keep asking others to avoid metatrader, is there any problem we should highlight here?
  • #231
  • Oct 30, 2014 6:44am Oct 30, 2014 6:44am
Quoting redwed
tk5. Hello there! Glad to see this 5 pip system. Will try to backtest it out in my free time. One question. Why do you dislike metatrader so much? You keep asking others to avoid metatrader, is there any problem we should highlight here?
MT is not technically an ECN platform. its not built for that.
It only can imitate ecn prices, causes negative slippage etc etc.
always draw trendlines
  • #232
  • Oct 30, 2014 7:26am Oct 30, 2014 7:26am
Really Thought About This... 5 Pips Per Hour..

Lemme get ma head around this.
  • #233
  • Oct 30, 2014 7:26am Oct 30, 2014 7:26am
Quoting tk5
{quote} MT is not technically an ECN platform. its not built for that. It only can imitate ecn prices, causes negative slippage etc etc.
So what platform you recommend? Give us a list of few brokers / platforms suitable for your method?
  • #234
  • Oct 30, 2014 7:40am Oct 30, 2014 7:40am
Quoting gt21
{quote} So what platform you recommend? Give us a list of few brokers / platforms suitable for your method?
RTFT http://www.forexfactory.com/showthre...35#post7828135
  • #235
  • Oct 30, 2014 8:45am Oct 30, 2014 8:45am
Interesting thread, I just did a succesful trade in demo on EURAUD. I know it was below the 200 ema but there was a nice bounce off the 30 RSI. Also, although the normal candle closed above the 5ema, the HA candle did not so not sure it was technically correct.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD (3).png Size: 48 KB
  • #236
  • Oct 30, 2014 9:34am Oct 30, 2014 9:34am
Quoting tk5
Appreciate redwed. I made pdf version for easiness of me and all)) {image}
thank you very much for your system ... today I tried real account, now three trades, 3 wins.
2 questions:
-Respect always to rule on whether the EMA200? above buy, sell below.
close-wait 15M candle run to make an order?
Attached Image
  • #237
  • Oct 30, 2014 10:32am Oct 30, 2014 10:32am
Quoting bodkins
this isnt a new method, i used to trade exactly a similar system. profitable for 8 months straight and then i got killed, dont believe me zoom back on AUDUSD,GBPUSD and EURUSD a couple days before it crashed couple months back. this system is simple you can win 100/100 trades consecutively no doubt, but without an exit plan. all it takes is 1 wrong call and poof. literally putting all your eggs in one basket. a word of advise for all that plans to implement any trading strategy stated on forums. Do your homework over the weekends when markets are...
i also proven that this is a profitable method. i followed the safe entry set up, in addition to that i enter only when there is a momentum because it will give a quick +2 or more profits, after that if it reverse, max that i will tolerate to loose is 5pips which is easy to recoup in the next set up. when i am right and momentum is strong i will wait till it slows down which means i will profit more than 5pips. losing 5pips when wrong and 5 to 30pips when right will always result in a positive account. just my actual application of this method. thanks tk5.
  • #238
  • Edited 11:15am Oct 30, 2014 10:39am | Edited 11:15am
OP had a trade they were not happy with a few post back and bailed at -7. Doesn't sound like an account killer to me.

From what I gather, "your" exit strategy was not a good one. "Hope" has no place in trading... ever...

Precision entries and killing trades that don't immediately go as planned based on experience trading this market.

I enter trades when the potential to yield 10-50 pips appears but always practiced killer entries for months until I recently got it right. On the average currently, trades back up maybe -6 pips the most. If it gets to 10 I kill the trade regardless if sometimes they turn around and go the right way for 100. Got to let that shit go.... Always another quality trade around the corner.

You got to find those lines of defense to hide behind... it's the key IMO... Just my approach...

OP does not appear to be trading blindly off MA's. OP looks for lines of defense to set up shop. Look at the OP's charts.

Cheers


Quoting bodkins
this isnt a new method, i used to trade exactly a similar system. profitable for 8 months straight and then i got killed, dont believe me zoom back on AUDUSD,GBPUSD and EURUSD a couple days before it crashed couple months back. this system is simple you can win 100/100 trades consecutively no doubt, but without an exit plan. all it takes is 1 wrong call and poof. literally putting all your eggs in one basket. a word of advise for all that plans to implement any trading strategy stated on forums. Do your homework over the weekends when markets are...
SPC * Swollen PocketZ Crew!
  • #239
  • Oct 30, 2014 10:54am Oct 30, 2014 10:54am
And another one back the other way, took a while though.
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD (4).png Size: 50 KB
  • #240
  • Oct 30, 2014 12:13pm Oct 30, 2014 12:13pm
3 in a row, I'm beginning to think there may be something in this method!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 48 KB
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