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5 PIPS - Only Five

  • #941
  • Edited 1:03pm Nov 20, 2014 12:29pm | Edited 1:03pm
Quoting JackAntigua
{quote} Yes thank you. Now I've discovered that what you have to say has about as much relevance to this thread as a chocolate teapot, I know to ignore you from now on.
Please put me on your ignore list.

I was not going to bother discussing this with you but.

Out of the 19 Charts I have posted with trades using this method only 2 had additional Price Action Trades on them, I can not comment on yours because I can not find any. Even Tk5 goes for the extra pips and steps out side the "Ideology" to get a better entry, it is called Trading, and ultimately "Price Action is King" a phrase that you will find used through out the trading world, you must surely have come across it by now.

I learnt to trade through the generosity of other traders being willing to share their knowledge and experience and I became successful when I learnt to interpret Price Action, that was the "Secret" the "Holy Grail" combining Price Action with any method/system increases the success rate infinitesimally and by now even you must have realised that price crossing the 5 ema can and does yield considerably more pips than just 5 if combined with some extra knowledge. That knowledge can be gained through 2 methods good old Trial and Error, something that you appear to favour, or new traders can shorten the learning curve by some one taking the time and showing them, clearly not something that you favour.

So if you find my charts irrelevant I suggest that you either do not look at them or you put me on your "Ignore List" that way you will not see them.

BTW. You really should get rid of that Chocolate Teapot, you have referred to it so many times in the other threads you have visited that the chocolate must have gone off by now, we would not want you to go down with food poisoning, would we!

One other thing. Chocolate Teapots can be usefull.
http://www.thenakedscientists.com/HT...colate-teapot/
Cut your Losers short and let your Winners run.
  • #942
  • Nov 20, 2014 12:47pm Nov 20, 2014 12:47pm
Dee, while I dont mind you making more pips..and I appreciate your contribution to the thread.
However, one thing out of it complicates my job - its re-ordering things up left from your Picasso charts

u know what I mean. nothing personal.
always draw trendlines
  • #943
  • Nov 20, 2014 1:36pm Nov 20, 2014 1:36pm
Quoting tk5
Dee, while I dont mind you making more pips..and I appreciate your contribution to the thread. However, one thing out of it complicates my job - its re-ordering things up left from your Picasso charts u know what I mean. nothing personal.
Nope, I don't get it. You have RSI, I have Stochs, 1 oscillator each. You have 200 EMA and 5 EMA, I have 200 EMA, 5 EMA and 50EMA. 1 extra EMA
I use S&R levels & BRN. You use Pivots? & S&R lines
I use trend lines, so do you

I make that 1 extra item on the chart. Oh, I have a session box to mark the session. 2 items. Must not forget the candle timer. 3 items.

I mark up my charts so that the new traders can see the reasoning behind the entries, if I remove the divergence lines, Trend lines & S&R lines, looks just like yours except it is a black back ground.

So Nope I don't get it.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 50 KB
Cut your Losers short and let your Winners run.
  • #944
  • Nov 20, 2014 1:59pm Nov 20, 2014 1:59pm
Quoting dee50
{quote} Nope, I don't get it. You have RSI, I have Stochs, 1 oscillator each. You have 200 EMA and 5 EMA, I have 200 EMA, 5 EMA and 50EMA. 1 extra EMA I use S&R levels & BRN. You use Pivots? & S&R lines I use trend lines, so do you I make that 1 extra item on the chart. Oh, I have a session box to mark the session. 2 items. Must not forget the candle timer. 3 items. I mark up my charts so that the new traders can see the reasoning behind the entries, if I remove the divergence lines, Trend lines & S&R lines, looks just like yours except it is a...
now it looks much better.

S&R - support and resistance thing is sth that everyone must draw regardless of method..You must draw trends - various shapes like channels, straight trends, triangles etc etc...

Divergence - is bullcrap. (at least int his case)

Stochastic - I am not sure since it gives fake signals and doesnt draw the trend. I suggest use of MACD, which is clearer. And RSI (this one can be even used for drawing trend and its breaking)

Pips - your higher pip making lure guys here...i am concerned about them..
always draw trendlines
  • #945
  • Nov 20, 2014 2:29pm Nov 20, 2014 2:29pm
Losing trade, boo. Took the GJ at 14:00GMT. Got a divergence alert and price crossed the 5EMA. Unfortunately, price didn't reach my TP (8 pips inc spread) and started moving down. I bailed out at -29 pips, wiping out my wins during the week.



Attached Image (click to enlarge)
Click to Enlarge Name: Moonie_GJ_H1.png Size: 96 KB
  • #946
  • Nov 20, 2014 2:36pm Nov 20, 2014 2:36pm
Quoting Moonie
Losing trade, boo. Took the GJ at 14:00GMT. Got a divergence alert and price crossed the 5EMA. Unfortunately, price didn't reach my TP (8 pips inc spread) and started moving down. I bailed out at -29 pips, wiping out my wins during the week. {image}
Because you made mistakes.

First of all - using H1 and Japanese candles..If you used M15 you could clearly see exit signal.
Second - you see that its overbought and price has reached on iceberg top..it needed resting.
Thirdly - HA didnt confirm it on h1! btw, on m15 chart there are two entry signals with 20-30 pips each (on that zone).

bottom line H1 and jap candles and divergence deceived you.
always draw trendlines
  • #947
  • Nov 20, 2014 2:41pm Nov 20, 2014 2:41pm
Quoting tk5
{quote} Because you made mistakes. First of all - using H1 and Japanese candles..If you used M15 you could clearly see exit signal. Second - you see that its overbought and price has reached on iceberg top..it needed resting. Thirdly - HA hasnt confirmed it! btw, on m15 chart there are two entry signals with 20-30 pips each. bottom line H1 and jap candles and divergence deceived you.
Hi TK5,

Do you have the arrows indicator? Or anybody can help me?

Thanks
  • #948
  • Nov 20, 2014 4:07pm Nov 20, 2014 4:07pm
Quoting tk5
{quote} Because you made mistakes. First of all - using H1 and Japanese candles..If you used M15 you could clearly see exit signal. Second - you see that its overbought and price has reached on iceberg top..it needed resting. Thirdly - HA didnt confirm it on h1! btw, on m15 chart there are two entry signals with 20-30 pips each (on that zone). bottom line H1 and jap candles and divergence deceived you.
Ditto what tk5 said,,, this should not be used by anyone to punt anytime a candle comes off the 5 ma, it does involve a wee bit of effort on the traders part adding support or price levels, being Patient and waiting for the right time to pounce, allowing new traders to get the idea of price action etc. and then move on and take the whole 15m swing or whatever way they want to trade,, a building block if you will not an ATM/cash cow anytime You demand pips NOW mentality. If you trade this blind and without putting in a bit of time figuring out a few simple things it will bite you and with the high leverage the bite will leave a mark in your account. Ive taken about 15/20 trades trying this thing out and Ive only closed one in loss and that was due to an error on my part, not what Tk5 has put out there.

Now what I don't like about it,,,, it has basically no way to put anything but an emergency stop to it, it just wouldn't work so one has to rely on making more pips than one loses for it to profit, (bad for new folks but traded right its not a big deal, my RR was very profitable) and the extreme leverage suggested especially for the new trader who will make many mistakes before getting it right.
  • #949
  • Nov 20, 2014 6:20pm Nov 20, 2014 6:20pm
This is the one good thing about losing, getting the feedback to learn from. Thanks guys, time to get back to green pips.
  • #950
  • Nov 20, 2014 8:12pm Nov 20, 2014 8:12pm
Two more substancial wins on GJ, one using the method to enter and the other using using half the method and experience all the way down to the 15m 200ma. Yes most times I also hold for more than the 5pip and more than 1trade an hour.
  • #951
  • Nov 20, 2014 10:42pm Nov 20, 2014 10:42pm
Quoting tk5
{quote} Because you made mistakes. First of all - using H1 and Japanese candles..If you used M15 you could clearly see exit signal. Second - you see that its overbought and price has reached on iceberg top..it needed resting. Thirdly - HA didnt confirm it on h1! btw, on m15 chart there are two entry signals with 20-30 pips each (on that zone). bottom line H1 and jap candles and divergence deceived you.
mat ask what if you got bad trade it did not reach ur target 5pips what u gona do on that bad trade
  • #952
  • Nov 21, 2014 8:05am Nov 21, 2014 8:05am
Not even trading half an hour and another GJ win .76 to .61 and Im done for the week, 50% gain on the account in 2 wks using only 25:1 leverage.
  • #953
  • Nov 21, 2014 9:32am Nov 21, 2014 9:32am
Back to winning ways. Using my previous template now and managed to grab a H15 trade on the GU. 6 pips inc. spread.

Attached Image (click to enlarge)
Click to Enlarge Name: Moonie_GU_H15.png Size: 72 KB
  • #954
  • Nov 21, 2014 10:04am Nov 21, 2014 10:04am
Quoting Moonie
Back to winning ways. Using my previous template now and managed to grab a H15 trade on the GU. 6 pips inc. spread. {image}
Good for you.

Here is a little something a bit more constructive about your loser. BTW. The problem with using an indicator to draw Divergence is that they are mechanical. Divergence did not let you down, the indicator did. If the chart does not explain it clearly enough, PM me and I will point you to some posts that will clear it up.
Attached Image (click to enlarge)
Click to Enlarge Name: Moonie.png Size: 71 KB
Cut your Losers short and let your Winners run.
  • #955
  • Nov 21, 2014 10:59am Nov 21, 2014 10:59am
Quoting dee50
{quote} Good for you. Here is a little something a bit more constructive about your loser. BTW. The problem with using an indicator to draw Divergence is that they are mechanical. Divergence did not let you down, the indicator did. If the chart does not explain it clearly enough, PM me and I will point you to some posts that will clear it up. {image}
Thanks Dee for everything ! Always learning from you buddy!
Keeping green!

cchersia
  • #956
  • Nov 21, 2014 11:23am Nov 21, 2014 11:23am
Quoting js5020
Not even trading half an hour and another GJ win .76 to .61 and Im done for the week, 50% gain on the account in 2 wks using only 25:1 leverage.

Chart of the trade ,, lest some say BS. I was a tad slow on the entry but they say a pic is worth a thousand words.
Attached File(s)
File Type: pdf JPY - 15 min 11-21 .pdf   90 KB | 562 downloads
  • #957
  • Nov 21, 2014 11:34am Nov 21, 2014 11:34am
Entry is fine, but cant figure out why you closed it. It never came back anywhere close to BE and obviously dipped down a fair bit after you pulled out.

Specific signal to close?
  • #958
  • Nov 21, 2014 2:21pm Nov 21, 2014 2:21pm
This was a kinda crazy week..a zigzag.

Hopefully, I made some difference and guys earn pips...although forum admins still keep this thread in Rookie Talk, I guess they perhaps promote 'lame' Rookie Talk category with the help of our active thread - what do you think??
Anyone who agrees with this point can send request about moving it to Trading Discussion using Contact Us on website foot.
always draw trendlines
  • #959
  • Nov 21, 2014 2:25pm Nov 21, 2014 2:25pm
Some of our trades (especially users of Oanda) fail to set Shift (aka Offsetting) on EMAs..

I also had this issue with cTrader's desktop version, which doesn't have it yet. But I solved this problem by so-called Triangular Moving Average. If your platform has it, apply TMA with 5 period. It's exactly same as 5 EMA with Shift 3.
always draw trendlines
  • #960
  • Edited 3:04pm Nov 21, 2014 2:51pm | Edited 3:04pm
Quoting Nefser
Entry is fine, but cant figure out why you closed it. It never came back anywhere close to BE and obviously dipped down a fair bit after you pulled out. Specific signal to close?
Well, why did I close? No good logical trading explanation for sure, it boiled down to I wanted to clear 50% profit for 2 wks, I needed 8 pip to do that today and I had about limited time to try to find a setup to do it,,, did it in about 10 minutes, posted, answered a PM and headed into town with the wife the rest of the day (happy wife happy life you know), trading isn't everything to me. I trade to live not live to trade now, I've put in my time,, the pips I let go will be there next week and then some, no worries here.
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