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Magic 5 - five pips only

  • #61
  • Nov 30, 2014 3:49pm Nov 30, 2014 3:49pm
I like Ranging markets.
they are sexy.
you draw lines.
and do her up and down...

8 set-ups in two days.

http://img.ie/images/g6z9l.jpg
always draw trendlines
  • #62
  • Nov 30, 2014 5:37pm Nov 30, 2014 5:37pm
what do you have your stop loss set at if your take profit is 5 pips?
  • #63
  • Nov 30, 2014 6:26pm Nov 30, 2014 6:26pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting mcheques
what do you have your stop loss set at if your take profit is 5 pips?
Did you read the thread ?
MT4/MT5 EAs/Indicators/Alerts coder
  • #64
  • Nov 30, 2014 8:04pm Nov 30, 2014 8:04pm
Quoting tk5
I like Ranging markets. they are sexy. you draw lines. and do her up and down... 8 set-ups in two days. {image}
Am I right in saying not all those setups are true because not all of them are in the direction of the 200EMA? In fact, I would have only taken the 2nd setup and none of the others according to your original rules.
Winners add to winning trades!
  • #65
  • Dec 1, 2014 1:18am Dec 1, 2014 1:18am
Quoting tk5
I like Ranging markets. they are sexy. you draw lines. and do her up and down... 8 set-ups in two days. {image}
so when EMA 200 cross couple times candles we can buy and sell both,right ?
  • #66
  • Dec 1, 2014 1:54am Dec 1, 2014 1:54am
Quoting tk5
{quote} listen, why you struggle...first learn entering correctly in forex. that's more important. stop-loss is discretionary: at the discretion of the user. because in such method price may temporary and shortly move back and forth before reaching your target - placing close stop-loss is suicidal. hopefully, SL discussion will end here, finally. I
Maybe you should have named the the thread something like "The dreadfull R:R system". Maybe then everybody who likes a 'good' R:R could stay out of the thread.
  • #67
  • Dec 1, 2014 1:57am Dec 1, 2014 1:57am
Quoting 5aztv88
{quote} so when EMA 200 cross couple times candles we can buy and sell both,right ?
in this case, 200 is not involved. in ranging markets hou draw s&r lines, trade until breakout.

i must remjnd that ema200 is not used for trade trigger. its there to show you market drection. to be more sure you can check h1 ema200, if it is well over it then stronger and lasting market directiin is.
always draw trendlines
  • #68
  • Dec 1, 2014 3:14am Dec 1, 2014 3:14am
Hi,
Anybody can post an indicator with sound alert when price crosses the 5EMA with shift ?

Thanks in advance.

Best Regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #69
  • Dec 1, 2014 5:33am Dec 1, 2014 5:33am
Quoting BLACKFEET
Hi, Anybody can post an indicator with sound alert when price crosses the 5EMA with shift ? Thanks in advance. Best Regards BBF
enjoy.
Attached File(s)
File Type: mq4 Price MA Breakout.mq4   3 KB | 1,049 downloads
always draw trendlines
  • #70
  • Dec 1, 2014 6:43am Dec 1, 2014 6:43am
This morning has been an education for me.

I had previously posted that I preferred Jap candles to HA and that naked PA was sufficient to get me into a quick burst of momentum for my 5-10 pips.

USD/CAD today gives a clear example of how I was wrong and that the template TK5 has suggested is the best way and shouldn't be tampered with. On today's U/C I would have taken a long on the first candle of the London session, a strong bullish candle in an established up trend, for a loss.

However if we examine the same set up using the original chart, we can see that whilst the HA candles may have also signalled a long, the RSI was bouncing around the 50 level for the candles before the entry, guiding us to steer clear.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 52 KB
Getting there, slowly but surely...
  • #71
  • Dec 1, 2014 7:44am Dec 1, 2014 7:44am
this morning trades each+5
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.jpeg Size: 182 KB
my momentum indi let's me know if I am in right direction ...since we are playing for 5-6 pips the 200 EMA is of no big concern to this strategy
  • #72
  • Dec 1, 2014 7:51am Dec 1, 2014 7:51am
Quoting tk5
{quote} enjoy. {file}
Hi, tk5

Thanks a lot.

Best regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #73
  • Dec 1, 2014 7:51am Dec 1, 2014 7:51am
Quoting getn5
this morning trades each+5{image} my momentum indi let's me know if I am in right direction ...since we are playing for 5-6 pips the 200 EMA is of no big concern to this strategy
kindly dont add 'external' indicators
always draw trendlines
  • #74
  • Dec 1, 2014 8:08am Dec 1, 2014 8:08am
TK, my indi "TDI "is not at all obstructing my chart, in fact it's showing me the right directional momentum and it actually is customised RSI which almost everybody here is using...this is liquid RSI it confirms entry sooner than standard RSI....would not want to trade without it.
  • #75
  • Dec 1, 2014 8:11am Dec 1, 2014 8:11am
Quoting getn5
TK, my indi "TDI "is not at all obstructing my chart, in fact it's showing me the right directional momentum and it actually is customised RSI which almost everybody here is using...this is liquid RSI it confirms entry sooner than standard RSI....would not want to trade without it.
but you are adding your chart here. and it may confuse audience. its public. i try to keep method clean as original.
always draw trendlines
  • #76
  • Dec 1, 2014 8:29am Dec 1, 2014 8:29am
It'your thread , as you wish, just surprised at your reaction..
  • #77
  • Dec 1, 2014 8:31am Dec 1, 2014 8:31am
Quoting getn5
It'your thread , as you wish, just surprised at your reaction..
you know, in such cases I get questions, and stuff..complicates my job. u should ustand me)
always draw trendlines
  • #78
  • Dec 1, 2014 8:40am Dec 1, 2014 8:40am
This is how one Proper day of trading looks like:

http://img.ie/images/l1r8j.jpg
always draw trendlines
  • #79
  • Dec 1, 2014 8:49am Dec 1, 2014 8:49am
very nice indeed
  • #80
  • Dec 1, 2014 9:04am Dec 1, 2014 9:04am
USDCAD sell +40
Attached Image (click to enlarge)
Click to Enlarge Name: loonie m15.png Size: 140 KB
"patience grasshopper"
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