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5 PIPS - Only Five

  • #261
  • Oct 31, 2014 9:47am Oct 31, 2014 9:47am
Quoting Edlich
ReGroup Unless I'm mistaken, your IG platform (presumably spreadbet, not MT4) won't give you Heiken Ashi, my ETX one doesn't and HA appears to be the primary filter for this strat. Hats off to TK5, for the clarity of the strategy a real eye opener. I've been experimenting, with reasonable success in recent weeks with a method of making quick small gains by jumping on the back of proven momentum, so this fits in very well with where my trading style is heading, so thank you for sharing.

Yes you are right. IG platform does not give HA. I am not using MT4 but webdealer CFD.

Are you in UK yourselves?

What platform do you use?
  • #262
  • Oct 31, 2014 9:54am Oct 31, 2014 9:54am
Yes, I am in the UK and have spreadbet accounts with IG & ETX, but only use them for playing around with from work, where I can't access my MT4 account.

HA, is very different from basic Jap candles, so if you want to follow TK5's strategy, you would need to switch to MT4, or other platform with HA. I think ETX and IG offer MT4 accounts, but I've never tried them so can't comment on what they are like.
Getting there, slowly but surely...
  • #263
  • Oct 31, 2014 10:14am Oct 31, 2014 10:14am
Quoting Edlich
Yes, I am in the UK and have spreadbet accounts with IG & ETX, but only use them for playing around with from work, where I can't access my MT4 account. HA, is very different from basic Jap candles, so if you want to follow TK5's strategy, you would need to switch to MT4, or other platform with HA. I think ETX and IG offer MT4 accounts, but I've never tried them so can't comment on what they are like.
Hi TK5 and Edlich,

I have changed to MT4 and adjusted the settings. Please see link the below;

http://gyazo.com/328a51f8d76301537003e3e4ca5b131a

Does it look like it?

regards
  • #264
  • Oct 31, 2014 10:18am Oct 31, 2014 10:18am
Can someone please comment why this wasn't a good trade?
Attached Image
  • #265
  • Oct 31, 2014 10:19am Oct 31, 2014 10:19am
Looks OK to me, although zoomed out like that, I can't tell whether you've got HA candles or Jap?
Getting there, slowly but surely...
  • #266
  • Oct 31, 2014 10:19am Oct 31, 2014 10:19am
Quoting Edlich
Yes, I am in the UK and have spreadbet accounts with IG & ETX, but only use them for playing around with from work, where I can't access my MT4 account. HA, is very different from basic Jap candles, so if you want to follow TK5's strategy, you would need to switch to MT4, or other platform with HA. I think ETX and IG offer MT4 accounts, but I've never tried them so can't comment on what they are like.

Sorry, I have zoomed it here.

http://gyazo.com/ef2aac1058a1843b864fbfd2d0f06303
  • #267
  • Oct 31, 2014 10:28am Oct 31, 2014 10:28am
Quoting Art5
Can someone please comment why this wasn't a good trade? {image}

Because the trend looks like its up. Overall.

The lows are above the early chart highs, the last red candles didn't last long, before they went white again. The MA isn't pointing down, it's sideways..

take your pick of reasons.

Some discretion is needed with this.
  • #268
  • Oct 31, 2014 10:36am Oct 31, 2014 10:36am
Quoting Art5
Can someone please comment why this wasn't a good trade? {image}
Art
I've not been looking into this method for very long, so apologies to TK5 if my thoughts contradict his methodology, but in my backtesting of this strategy, I find the most reliable signals are when a confirmed signal is the first HA colour change into the direction of the trend after either London or NY open. Your chart is too cropped to see for sure but it looks like you've taken a trade mid session or out of hours?
Getting there, slowly but surely...
  • #269
  • Oct 31, 2014 10:44am Oct 31, 2014 10:44am
Quoting Art5
Can someone please comment why this wasn't a good trade? {image}
I wouldent take any candles touching the EMA line, only ones outside it

Attached Image
YOUR MOTHERS ASS
  • #270
  • Oct 31, 2014 10:50am Oct 31, 2014 10:50am
I always suggest to long only when trend is up..and vice versa...

I decided to fine-tune sth - regarding trend (ema 200)...use H1 not M15 to understand trend (crossing 200).
For looonger trend use H4 over 200.
m15 is probably too short for beginners.
always draw trendlines
  • #271
  • Oct 31, 2014 11:00am Oct 31, 2014 11:00am
Hi TK5,

Would you say I have the right setting now?

http://gyazo.com/16758330811f6d4c7b867fcdea68d686


regards
  • #272
  • Oct 31, 2014 11:09am Oct 31, 2014 11:09am
Quoting Edlich
Looks OK to me, although zoomed out like that, I can't tell whether you've got HA candles or Jap?
HA Candles.

Quoting leeshindig
{quote} Because the trend looks like its up. Overall. The lows are above the early chart highs, the last red candles didn't last long, before they went white again. The MA isn't pointing down, it's sideways.. take your pick of reasons. Some discretion is needed with this.
Ok, got it. Thanks.

Quoting Edlich
{quote} Art I've not been looking into this method for very long, so apologies to TK5 if my thoughts contradict his methodology, but in my backtesting of this strategy, I find the most reliable signals are when a confirmed signal is the first HA colour change into the direction of the trend after either London or NY open. Your chart is too cropped to see for sure but it looks like you've taken a trade mid session or out of hours?
Yes, it was mid session London and NY have been opened for 2-3 hours. Thanks for the tip.

Quoting santos23
{quote} I wouldent take any candles touching the EMA line, only ones outside it {image}
Thank you.

Quoting tk5
I always suggest to long only when trend is up..and vice versa... I decided to fine-tune sth - regarding trend (ema 200)...use H1 not M15 to understand trend (crossing 200). For looonger trend use H4 over 200. m15 is probably too short for beginners.
Yes, I'll get it into account when trading. Thanks a lot, TK5.

And God bless you all.
  • #273
  • Oct 31, 2014 11:09am Oct 31, 2014 11:09am
Would 10 pips on the H1 time frame work do you think?

I'm working during the London session, so can check the charts every 15 minutes (which I do using Teamviewer on my mobile incidently).

Cheers.
  • #274
  • Oct 31, 2014 11:26am Oct 31, 2014 11:26am
Quoting tk5
I always suggest to long only when trend is up..and vice versa... I decided to fine-tune sth - regarding trend (ema 200)...use H1 not M15 to understand trend (crossing 200). For looonger trend use H4 over 200. m15 is probably too short for beginners.
TK should we use EMA200 on 15M charts too?
YOUR MOTHERS ASS
  • #275
  • Oct 31, 2014 11:30am Oct 31, 2014 11:30am
Quoting tk5
I always suggest to long only when trend is up..and vice versa... I decided to fine-tune sth - regarding trend (ema 200)...use H1 not M15 to understand trend (crossing 200). For looonger trend use H4 over 200. m15 is probably too short for beginners.

Hi TK5,traders, I've been following this thread with interest.....after 8 years/11-12,000 hrs of trading in my "spare" time, and countless courses and methodologies ! I've come to a similar version of your method by my own evaluation in recent months.....it's a legitimate way to trade and consistently makes a high net gain of pips.

If it's ok with you,TK, I'll mention how I have dialed in the set up, it's close to your own..............I trade on the 5 min TF, with my 1hr at it's side....I use the 8 ema, which is almost the same as 5 with a 2 shift. The key for entry is to be going in the direction of the 1hr TF trend.....I determine the trend by price action and a multi time frame Stochastic indicator at a bottom window.....so on my 5 min chart, I have a 15 min and 1hr stochastic showing at the bottom........ I look for a close across the 8 ema with a full bodied candle ( important) and enter on the break of that close.....15 and 60 stoch has to be coming from ob/os and crossed in the trade direction. I have a hard stop at 10 pips inc spread.
If you have the 15 and 60 crossed and spreading, full bodied candle close past 8 ( or 5-2 shift) you have a very high probability set up happening...90 % +!
I agree with you that a newbie will have to gain experience in overall price action and cycles, but even so this is great way to trade.

50 and 200 ma on all time frames are very significant, and I have them all plotted on my 5 min chart.
Thanks for putting this out there.
  • #276
  • Oct 31, 2014 11:30am Oct 31, 2014 11:30am
Quoting santos23
{quote} TK should we use EMA200 on 15M charts too?
if you are brave...and if for short pips.
ema 200 is like a COMPASS. hope its clear.
always draw trendlines
  • #277
  • Oct 31, 2014 1:07pm Oct 31, 2014 1:07pm
Quoting PaulS1
{quote} Hi TK5,traders, I've been following this thread with interest.....after 8 years/11-12,000 hrs of trading in my "spare" time, and countless courses and methodologies ! I've come to a similar version of your method by my own evaluation in recent months.....it's a legitimate way to trade and consistently makes a high net gain of pips. If it's ok with you,TK, I'll mention how I have dialed in the set up, it's close to your own..............I trade on the 5 min TF, with my 1hr at it's side....I use the 8 ema, which is almost the same as 5 with...
Paul, mate..it got too complicated.
always draw trendlines
  • #278
  • Oct 31, 2014 1:14pm Oct 31, 2014 1:14pm
Quoting PaulS1
{quote} Hi TK5,traders, I've been following this thread with interest.....after 8 years/11-12,000 hrs of trading in my "spare" time, and countless courses and methodologies ! I've come to a similar version of your method by my own evaluation in recent months.....it's a legitimate way to trade and consistently makes a high net gain of pips. If it's ok with you,TK, I'll mention how I have dialed in the set up, it's close to your own..............I trade on the 5 min TF, with my 1hr at it's side....I use the 8 ema, which is almost the same as 5 with...
Could you post a couple of charts? Thanks
  • #279
  • Oct 31, 2014 1:20pm Oct 31, 2014 1:20pm
Quoting PaulS1
{quote} Hi TK5,traders, I've been following this thread with interest.....after 8 years/11-12,000 hrs of trading in my "spare" time, and countless courses and methodologies ! I've come to a similar version of your method by my own evaluation in recent months.....it's a legitimate way to trade and consistently makes a high net gain of pips. If it's ok with you,TK, I'll mention how I have dialed in the set up, it's close to your own..............I trade on the 5 min TF, with my 1hr at it's side....I use the 8 ema, which is almost the same as 5 with...
And what are the values of the stochs that you are using? Thanks
  • #280
  • Oct 31, 2014 1:34pm Oct 31, 2014 1:34pm
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_1.jpg Size: 44 KB


sometimes when the chart is zoomed out the candles look like they are touching the EMA..however it aint the case if you zoom in, they would have been valid trades..i was making this mistake
YOUR MOTHERS ASS
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