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5 PIPS - Only Five

  • #881
  • Nov 17, 2014 1:49pm Nov 17, 2014 1:49pm
Quoting dee50
{quote} "Pajero" {image}
yea almost
always draw trendlines
  • #882
  • Nov 17, 2014 1:53pm Nov 17, 2014 1:53pm
Very nice method TK5.

I do exactly the same thing on a 1 min chart. I enter for 5 pips or more. I get out when direction changes again..it works like gangbusters.
  • #883
  • Nov 17, 2014 2:03pm Nov 17, 2014 2:03pm
Quoting srmiller82
Just because an inexperienced trader comes in and loses 15 pips trying to follow TK doesnt mean it doesnt work. IN fact i would say 70% of the systems on this site would be profitable long term if people knew how to trade
We're saying exactly the same thing.
To trade this 5-pips-only system successfully you already need to "know how to trade" and NOT literally follow the presented method.

This means that this thread is completely pointless.
If you don't know how to trade (=don't have an edge), the 5-pips-only definitely is a losing proposition (and your broker will happily accept your gifts).
If you already know how to trade (=have an edge), you'd better use a different system to avoid paying your broker too large a share of your profits.
  • #884
  • Nov 17, 2014 2:07pm Nov 17, 2014 2:07pm
Quoting RHoudini
{quote} We're saying exactly the same thing. To trade this 5-pips-only system successfully you already need to "know how to trade" and NOT literally follow the presented method. This means that this thread is completely pointless. If you don't know how to trade (=don't have an edge), the 5-pips-only definitely is a losing proposition (and your broker will happily accept your gifts). If you already know how to trade (=have an edge), you'd better use a different system to avoid paying your broker too large a share of your profits.
dude...
Inserted Video
always draw trendlines
  • #885
  • Nov 17, 2014 2:09pm Nov 17, 2014 2:09pm
Quoting RHoudini
{quote} We're saying exactly the same thing. To trade this 5-pips-only system successfully you already need to "know how to trade" and NOT literally follow the presented method. This means that this thread is completely pointless. If you don't know how to trade (=don't have an edge), the 5-pips-only definitely is a losing proposition (and your broker will happily accept your gifts). If you already know how to trade (=have an edge), you'd better use a different system to avoid paying your broker too large a share of your profits.

I think that goes with any system, though, i mean with 90% people losing doesnt matter the system you have to know how to trade to make money. That being said i think what he put down here is great and easy for newcomers to get down quick. But honestly i dont think anybody should be trading if they have been through babypips or some sort of training anyway, i think this thread is meant for someone who has knowledge but is looking for good entry method. I think its decent entry method, but you do need to be in front of it and i dont personally prefer HA candles as they show trends really well but when its not trending they are very laggy, i personally get a better story from traditional candles. But if all you were looking for is 5 pips, i see nothing wrong with this method, but just trading above or below 200 ema but get you into trouble if you took every single trade, but i think TK's broken english might be at fault here he is basically saying not to take every trade. Maybe the newcomers would benefit if he posted all his trades but that would be alot of work for him maybe hes not interested in that But i've done some of my own testing with what i know looks very profitable when you take the correct trades, but i think newcomers will have trouble distinguishing which ones are correct.
  • #886
  • Nov 17, 2014 2:24pm Nov 17, 2014 2:24pm
Cmon you guys can't you agree to agree that you are both right in your own ways. Why don't you follow this link to a post I did that some how ended up in the commercial section, go to the site I mention there, and after that you could create a thread discussing what you find there that could run for years. I can not link directly to the site from this thread, my post would end up in the "extracted posts" section.

http://www.forexfactory.com/showthread.php?t=511273
Cut your Losers short and let your Winners run.
  • #887
  • Nov 17, 2014 2:35pm Nov 17, 2014 2:35pm
With the huge swings on a 15 min chart in the past few years, why would you trade a 15 min swing for 5 pips only. This i dont understand
  • #888
  • Nov 17, 2014 3:11pm Nov 17, 2014 3:11pm
Quoting dee50
Cmon you guys can't you agree to agree that you are both right in your own ways. Why don't you follow this link to a post I did that some how ended up in the commercial section, go to the site I mention there, and after that you could create a thread discussing what you find there that could run for years. I can not link directly to the site from this thread, my post would end up in the "extracted posts" section. http://www.forexfactory.com/showthread.php?t=511273
beleive me, i showed, described all situations to enter and ones to avoid..
i just cant repeat things over and over for pointless minds. not worth it. this is not a commercial product after all. I even been advising mates privately for their questions.
those who understand will benefit those who dont who cares.
always draw trendlines
  • #889
  • Nov 17, 2014 3:17pm Nov 17, 2014 3:17pm
Quoting Bankpips
With the huge swings on a 15 min chart in the past few years, why would you trade a 15 min swing for 5 pips only. This i dont understand

High % wins, you only need 5 pips to make huge amounts of money every day with that kind of leverage why be greedy and go for more?
  • #890
  • Nov 17, 2014 4:47pm Nov 17, 2014 4:47pm
To be perfectly clear i like what TK5 is doing just not on the 15 min timeframe
  • #891
  • Nov 17, 2014 4:58pm Nov 17, 2014 4:58pm
Quoting Bankpips
Very nice method TK5. I do exactly the same thing on a 1 min chart. I enter for 5 pips or more. I get out when direction changes again..it works like gangbusters.
Isn't the 1 minute chart even more whippy than the 15?
Life is like a snickers, its full of nuts!
  • #892
  • Nov 17, 2014 5:18pm Nov 17, 2014 5:18pm
if you want to trade for 5 pips, you want whippy,,,then you can trade in both directions
  • #893
  • Nov 17, 2014 5:20pm Nov 17, 2014 5:20pm
All you need is a good method to enter trades, and you can trade the market up and down, when it is sideways on the 1 minute charts.....but most people are afraid of 1 min trading because they think it is too fast.......but most 1 min trades last 30 to 45 minutes
  • #894
  • Nov 17, 2014 5:24pm Nov 17, 2014 5:24pm
Anyway, its just a remark that i wanted TK5 to know i liked his approach to trading, I wont try to persuade anyone to trade 1 min charts, but, i will give you this hint, find a couple of non lagging moving averages that you like and apply them to a 1 min chart and watch the swings for a while to decide if you can make 5 pips when the direction changes
Happy trading....from a person that has been trading 1 min charts for 15 years.
  • #895
  • Nov 17, 2014 6:54pm Nov 17, 2014 6:54pm
I like your approach.



Quoting Bankpips
Anyway, its just a remark that i wanted TK5 to know i liked his approach to trading, I wont try to persuade anyone to trade 1 min charts, but, i will give you this hint, find a couple of non lagging moving averages that you like and apply them to a 1 min chart and watch the swings for a while to decide if you can make 5 pips when the direction changes Happy trading....from a person that has been trading 1 min charts for 15 years.
  • #896
  • Nov 17, 2014 9:01pm Nov 17, 2014 9:01pm
thanks tk5 for this system, i'm still learning it and see it work wonders now

I'm following dee50 method for combining divergence + ema, and i set the tp 30, sl 30, which is 1:1 , so far non of the trade hit any SL yet

dee50, would appreciate if you can post more chart, thanks for sharing!
  • #897
  • Nov 17, 2014 9:46pm Nov 17, 2014 9:46pm
Quoting Bankpips
Anyway, its just a remark that i wanted TK5 to know i liked his approach to trading, I wont try to persuade anyone to trade 1 min charts, but, i will give you this hint, find a couple of non lagging moving averages that you like and apply them to a 1 min chart and watch the swings for a while to decide if you can make 5 pips when the direction changes Happy trading....from a person that has been trading 1 min charts for 15 years.
Good points bankpips........as this thread reaches for 1000 posts i sense TK is getting tired of noobs who are to lazy to sit down for a few hours and grind through this excellent thread. The main point i get out of this is TK is educating FF members on a mindset. Not a system to be followed blindly. The fact is no two trades are the same and no 2 traders follow a system the same way. We all add our own twists to to it. Like we do with everything in our lives. I use the 1-5-15 min but who the &^%$ cares........just get your 5pips plus spread and close/repeat. When you get used to making money the market will tell you when there are more than 5 pips to be had.......
  • #898
  • Nov 18, 2014 3:12am Nov 18, 2014 3:12am
Have fun everyone, I do
Attached Image (click to enlarge)
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  • #899
  • Nov 18, 2014 3:37am Nov 18, 2014 3:37am
Quoting Bankpips
Have fun everyone, I do {image}
Just drag your trade ticket on to screen from account history, gives people the transparency.
  • #900
  • Nov 18, 2014 3:41am Nov 18, 2014 3:41am
Quoting Bankpips
Have fun everyone, I do {image}
Bank..I respect your method. And I think you should start a system thread.
always draw trendlines
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