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5 PIPS - Only Five

  • #361
  • Nov 3, 2014 3:50pm Nov 3, 2014 3:50pm
Quoting sirwolf
{quote} Hi Moonie! Great job! I know the picture probablyu covers it. But could you summarize your entry rules? I am quite interested. Thank yoU!
Sure sirwolf. Every hour, I look at the Pips2MA dashboard and see which pairs are close to the 5 MA. Then I look for the following:

1. Price must have come through the MA and a whole candle closes on the other side
2. The Roshan indicator must have crossed through the purple line or bounced off it
3. The MACD needs to be forming higher highs or lower lows preferably coming from or close to the zero line.
4. Finally, the ADR indicator must show there is room to move up or down depending on the trade direction. If the letters are red, its a no trade.

TP is 5 or 10 pips, or if you are brave, when the MACD forms a lower high or higher low.
SL is just below the lowest recent candle plus the spread or just above the highest candle for shorts.
  • #362
  • Nov 3, 2014 3:57pm Nov 3, 2014 3:57pm
Quoting cchersia
{quote} Moonie ! Excellent Job, I use this indicator too in M15 work great, and I have good result ! Also I have same chart of you What setting for Pips2MA in H1? Thanks

Here you go cchersia. Good luck.

Attached Image (click to enlarge)
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  • #363
  • Nov 3, 2014 4:02pm Nov 3, 2014 4:02pm
It seems to me that this thread is falling to the FF curse. The OP offers what certainly seems to be a viable robust method for us all to share and makes himself available to answer questions and give guidance, but most posts seem to be about different indicators or TF's and not about the OP initial method?

For those seeking to rely on magic indies to give them precise entry and exit rules, do yourselves favour and just watch the charts for momentum, that is basically what the OP's method is showing us. Taking the first HA candle to open clear of the MA in the trend direction is simply jumping on a wave of momentum, then, the clever part, jumping off before it has chance to stall or reverse. Pure simplicity, I love it!
Getting there, slowly but surely...
  • #364
  • Nov 3, 2014 4:07pm Nov 3, 2014 4:07pm
Moonie.. you don't need any of those lagging squigglys on your chart.

Your candles just before every cross on ALL your examples told the same story. And does not lag.

Can you see?

Wicks in the direction of loss...
  • #365
  • Nov 3, 2014 4:19pm Nov 3, 2014 4:19pm
Quoting tk5
{quote} I like your bravety if it's a live account) as for indicators you need no Rawshan and that ema dashboard is little complicated one. Keeping it simple > makes you stronger and independent of too many auxiliary tools. Cause obsession with indis is dangerous, you like sth new, start adding various crap then mess your own mind.
Sorry to distract from your method tk5, hope you don't mind me posting my method. Agree that too many indicators mess with your mind, if you can do without that's better, but if you can see the wood through the trees and it works for you, then no harm done.

By the way, this tracker may help. Enter trades on the 'Daily Fills' tab and the 'Growth Plan and Statistics' will update automatically. Only enter values when the box is Green.

Not my work, just something I picked up on my journey.

Attached File(s)
File Type: xlsx Account Tracking FF_V2.xlsx   380 KB | 610 downloads
  • #366
  • Nov 3, 2014 4:22pm Nov 3, 2014 4:22pm
Quoting Moonie
{quote} Here you go cchersia. Good luck. {image}
Thanks a lot!
If you need any support please let me know!
  • #367
  • Nov 3, 2014 4:25pm Nov 3, 2014 4:25pm
Quoting Moonie
{quote} Sorry to distract from your method tk5, hope you don't mind me posting my method. Agree that too many indicators mess with your mind, if you can do without that's better, but if you can see the wood through the trees and it works for you, then no harm done. By the way, this tracker may help. Enter trades on the 'Daily Fills' tab and the 'Growth Plan and Statistics' will update automatically. Only enter values when the box is Green. Not my work, just something I picked up on my journey. {file}
no you definitely don't distract me )) but may distract other 'fragile' traders who would feel overloaded and shy away from trading..

problem is every-time smb uploads more sophisticated charts people may think they are part of Magic 5...since not all check back posts here. then I have to simplify things again again

and my personal suggestion is hunting for crossovers on Oscillators drives one crazy...it also confuses.because they lag.
always draw trendlines
  • #368
  • Nov 3, 2014 5:12pm Nov 3, 2014 5:12pm
Quoting tk5
{quote} no you definitely don't distract me )) but may distract other 'fragile' traders who would feel overloaded and shy away from trading.. problem is every-time smb uploads more sophisticated charts people may think they are part of Magic 5...since not all check back posts here. then I have to simplify things again again and my personal suggestion is hunting for crossovers on Oscillators drives one crazy...it...
Fair enough tk5, I won't post any more charts on here then. I'll keep in the background in learning mode :-)
  • #369
  • Nov 3, 2014 6:08pm Nov 3, 2014 6:08pm
Hello,

Is anyone using FXCM? I have noticed that this platform has a spread of 2-2.5 pips in the USD pairs. Also, when applying the 2 shift to the EMA, should it be a vertical or a horizontal shift? And finally, how important is the MACD in the setup? Should a bullish setup necessarily have the MACD line over the signal line and viceversa for a bearish setup?

Thank you
  • #370
  • Nov 3, 2014 7:13pm Nov 3, 2014 7:13pm
Hello tk5 i just found your thread, i would like to know if i use the h1 tf , so i sould wait for the cs to cross and close below ema5 to sell ? Tq
  • #371
  • Nov 3, 2014 7:57pm Nov 3, 2014 7:57pm
Quoting siti
Hello tk5 i just found your thread, i would like to know if i use the h1 tf , so i sould wait for the cs to cross and close below ema5 to sell ? Tq
as most of what happened to other thread, it begun with a simple uncomplicated method and as it go along everything is being mixed up, from one TF to another, from one indicator to another until it drift away from the essence of what it is intended for.
  • #372
  • Nov 3, 2014 8:00pm Nov 3, 2014 8:00pm
Quoting Edlich
...Taking the first HA candle to open clear of the MA in the trend direction is simply jumping on a wave of momentum, then, the clever part, jumping off before it has chance to stall or reverse. Pure simplicity, I love it!
True. Question: could TK of Edlich, or anybody clarify the parameters of the 5 ma: is it simple or exponential, and is it close, open, median price, typical prisc,weighted price? Depending on these parameters the 5ma can be plotted differently and in one case a candle can open clear of the ma, in another case it can be sitting on the ma, touching it. Thank you.
  • #373
  • Nov 3, 2014 10:22pm Nov 3, 2014 10:22pm
Hi tk5,

Please take a look at my chart, I think I am now getting the method as I was able to take a trade few minutes ago on demo and it worked fine.

http://gyazo.com/abf71ee3ebb1a2b9996c3231947bec9e

I had to changed from Candle stick to Bar chart to use HA properly.

I will demo a bit more today and see how it goes.

Regards
  • #374
  • Nov 4, 2014 12:32am Nov 4, 2014 12:32am
Sage16 - if macd merely look at bars, take action from second bar.

midnightrun - from beggining we said it Ema, type is written in its name, exponential anput to Close.

Regroup - you are fine...use Line instead of bar then color line to None, so it disappears.
always draw trendlines
  • #375
  • Nov 4, 2014 1:43am Nov 4, 2014 1:43am
Quoting Moonie
{quote} Sure sirwolf. Every hour, I look at the Pips2MA dashboard and see which pairs are close to the 5 MA. Then I look for the following: 1. Price must have come through the MA and a whole candle closes on the other side 2. The Roshan indicator must have crossed through the purple line or bounced off it 3. The MACD needs to be forming higher highs or lower lows preferably coming from or close to the zero line. 4. Finally, the ADR indicator must show there is room to move up or down depending on the trade direction. If the letters are red, its...

Moonie, could you share with us Nihilist Roshan Indicator? i cant find anywhere it to download.. please.
  • #376
  • Nov 4, 2014 2:04am Nov 4, 2014 2:04am
Quoting tk5
Sage16 - if macd merely look at bars, take action from second bar. midnightrun - from beggining we said it Ema, type is written in its name, exponential anput to Close. Regroup - you are fine...use Line instead of bar then color line to None, so it disappears.
Thanks TK5
  • #377
  • Nov 4, 2014 3:27am Nov 4, 2014 3:27am
TK5 please give some more examples about position entries. I still dont know when 5 pips is for sure... ;-/
  • #378
  • Nov 4, 2014 4:05am Nov 4, 2014 4:05am
Hi TK5,

I was wondering whether you could comment on this one. Although above the 200 ema, it was a distance away so I thought there might be a bit of reversion to mean going on, also, we had a nice trendline break. It went quickly to target which is good, but then just carried on. I was wondering how you cope psychologically with the feeling that you might have left a lot behind so to speak.

I like both 15 & 60 on the same chart, makes it easier looking back in history. Also I've got stochs on there, not sure why really, more for old times sake I think!
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  • #379
  • Edited 6:19am Nov 4, 2014 4:48am | Edited 6:19am
Bearish candle under EMA(5) so I sell? And MACD...
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Its turned into this ->>
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GBPUSD went down... no trades in news hour on pair, right ?

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Does this same tactic works with H1 chart? Bullish Full candle above EMA(5) ?

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Full candle BULL above EMA5 then i buy? and MACD higher than before?

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Good entry? Bearish candle under EMA(5) and EMA(200)
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  • #380
  • Edited 5:43am Nov 4, 2014 5:31am | Edited 5:43am
Use PA analysis to squeeze out those extra pips or to confirm the entry. Apologies to the OP I do not wish to usurp his method but I have used Stochs for years to show me divergence. You do not actually need it for the 5 method but I feel more comfortable with it. OH BTW. For those of you who have not worked it out yet, you can show the open and close of the regular candles behind the HA candles. First click on Bar Chart symbol in your Tool Bar, it is top LH symbol in my chart, then go to "Charts" click on "Foreground Chart" now you will see the Nibs of the open and close, sometimes they get hidden in the body of the HA. That is how I identified the Reversal Bar.

Hope it helps.
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