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Magic 5 - five pips only

  • #301
  • Dec 9, 2014 3:18am Dec 9, 2014 3:18am
Quoting gigicualex
{quote} Haircut, I was looking at that EU trade as well but didn't take it as the RSI was still up in the overbought territory. Congrats for your trades
GiGi thanks man.
TO be honest its probably beginners luck but I don't pay too much attention to the RSI if I think there is room for my pips. There was still room up. It had closed above the previous swing high i had marked so I went for it. The next one I am looking at ( although I have my two for the day and if I wasnt demoing would now have stopped ) is shorting Aud/Usd just waitng for the trigger. Its down on the day but retracing up nicely to the top of a channel I have marked.
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  • #302
  • Dec 9, 2014 3:40am Dec 9, 2014 3:40am
Quoting gigicualex
Hi TK5, Quick question. If current candle closes green, could I consider going long at the beginning of next candle? The only thing that keeps me not entering the trade is bearish momentum. The positive points are, PA stopped on the 200EMA(H1 chart) and DS1, RSI coming from 30 area {image}
thats luring I know.
but keep yourself from it unless you have goo balance.

if you look at m15 HA. it dropped below ema200..those long setups are only pullbacks of the downtrend. if you are brave trade but from from start.
its going to down WAVING up and down..but the angle is downwards.

second scenario is it may be fake breakout ema200 and return to up. but you dont know it.so
always draw trendlines
  • #303
  • Dec 9, 2014 3:44am Dec 9, 2014 3:44am
Quoting haircut
{quote} GiGi thanks man. TO be honest its probably beginners luck but I don't pay too much attention to the RSI if I think there is room for my pips. There was still room up. It had closed above the previous swing high i had marked so I went for it. The next one I am looking at ( although I have my two for the day and if I wasnt demoing would now have stopped ) is shorting Aud/Usd just waitng for the trigger. Its down on the day but retracing up nicely to the top of a channel I have marked. {image}
Looking on the AU setup as well. All seems to be arranged into a perfect short. Waiting for the 1st red but the most important is how this HA will look like and how much volume will have behind it.
  • #304
  • Dec 9, 2014 3:48am Dec 9, 2014 3:48am
Quoting tk5
{quote} thats luring I know. but keep yourself from it unless you have goo balance. if you look at m15 HA. it dropped below ema200..those long setups are only pullbacks of the downtrend. if you are brave trade but from from start. its going to down WAVING up and down..but the angle is downwards. second scenario is it may be fake breakout ema200 and return to up. but you dont know it.so
Luring indeed. Thank you for your input, much appreciated
  • #305
  • Dec 9, 2014 3:50am Dec 9, 2014 3:50am
Quoting bala5855
Hai...tk5... I use 5 mts charts in EU, GU, UC, EJ, GJ...5 pips guaranteed... 1. FRACTALS 2. 50 SMA / 5 EMA shift 2 3. MACD Rules : Buy : Fractals at bottom, Price close above 5 EMA Overall price above 50 SMA. Filter MACD above "0" Sell : VICE VERSA... See pic below: {image}
Hi bala5855, please look in your private messages!
  • #306
  • Edited 5:20am Dec 9, 2014 5:09am | Edited 5:20am
Quoting tk5
whats up guys I have been busy these days. I thought this: you can upload your bad trades here...I will comment on each particular case as can. this way I believe would help to cement traders discipline.
TK,
I've got the below BAD trade which I'm sharing here to be analyzed.

My reasoning behind the trade:
I considered the previous move down(those 6 red HA left side of my entry) a pullback of the bullish trend installed on Monday and continued on the Asian session. Price found support on the 200EMA, RSI pulls back from the oversold area, the setup candle crosses and closes above 5EMA. My entry(on the last HA candle from below chart) was right on the open of the second green HA and took a SL of 9p.
Thanks in advance
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  • #307
  • Dec 9, 2014 5:15am Dec 9, 2014 5:15am
Quoting gigicualex
{quote} TK, I've got the below BAD trade which I'm sharing here to be analyzed. My reasoning behind the trade: I considered the previous move down a pullback of the bullish trend installed on Monday and continued on the Asian session. Price found support on the 200EMA, RSI pulls back from the oversold area, the setup candle(first green HA candle on my chart) crosses and closes above 5EMA. My entry was right on the open of the second green HA and took a SL of 9p. Thanks in advance {image}
most mistakes are made here.
I didnt enter myself in this case because as you see market come from very overbought level. it even broke 70.Longs are exhausted hence market resting and looking downwards.. you must watchful.
besides, it is double top situation. and it's near resistance trend-line, reversing from there.

from sizes of bearish candles you can feel it. your entry is just a pullback.

avoid pullbacks based on simple market analysis, one described above.

http://img.ie/images/fed27.jpg
always draw trendlines
  • #308
  • Dec 9, 2014 5:29am Dec 9, 2014 5:29am
Quoting tk5
{quote} most mistakes are made here. I didnt enter myself in this case because as you see market come from very overbought level. it even broke 70.Longs are exhausted hence market resting and looking downwards.. you must watchful. besides, it is double top situation. and it's near resistance trend-line, reversing from there. from sizes of bearish candles you can feel it. your entry is just a pullback. avoid pullbacks based on simple market analysis, one described above. {image}
Tk5
Thanks so much for sharing your knowledge and your patience. I looked at this but was kept out by the fact it had broken the bullish trendline I had marked on my chart which then turned to resistance to the pip.
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  • #309
  • Dec 9, 2014 5:31am Dec 9, 2014 5:31am
Quoting gigicualex
{quote} Looking on the AU setup as well. All seems to be arranged into a perfect short. Waiting for the 1st red but the most important is how this HA will look like and how much volume will have behind it.
Here we go mate I hope you are still watching it?
  • #310
  • Dec 9, 2014 6:04am Dec 9, 2014 6:04am
Quoting tk5
{quote} most mistakes are made here. I didnt enter myself in this case because as you see market come from very overbought level. it even broke 70.Longs are exhausted hence market resting and looking downwards.. you must watchful. besides, it is double top situation. and it's near resistance trend-line, reversing from there. from sizes of bearish candles you can feel it. your entry is just a pullback. avoid pullbacks based on simple market analysis, one described above. {image}
Thank you tk5 for your time and analysis. Much appreciated as usual

@Haircut, yes i took that short, got a tp on that one
  • #311
  • Dec 9, 2014 8:46am Dec 9, 2014 8:46am
Hello Dave_C I told you that I will start day after tomorrow but I was curious, but as you gave me the template work was done 100% by you. So I could not stop my self and just placed EA on the chart EURGBP to night, thank you for you support.

Now I saw one trade execute as per system correctly on at 9:20am and booked profit at 9:50am

But what about the second one did not placed buy order when condition were matched
Please will you explain to me is it my fault or some thing which I cannot see to bearing in my mind. For more detail I have attached the image.

Thanks And regards,
Moti
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  • #312
  • Dec 9, 2014 11:54am Dec 9, 2014 11:54am
Hello Dave_C one more image where 2nd trade is missed also Why?

Regards,
Moti
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  • #313
  • Dec 9, 2014 1:15pm Dec 9, 2014 1:15pm
Quoting Motiram
Hello Dave_C one more image where 2nd trade is missed also Why? Regards, Moti {image}
The first trade did not trigger because the RSI never came from a low signal and the HA (Heiken Ashi) candle never passed below the Short MA.

The second trade did not trigger because candles were above the 200 long MA.
If you had been using the EA in advisory or discretionary mode the second trade would have alerted. Post #293 refers
  • #314
  • Dec 9, 2014 1:49pm Dec 9, 2014 1:49pm
Hello Dave_C thank you for answering my question.
Quoting Dave_C
{quote} The second trade did not trigger because candles were above the 200 long MA. If you had been using the EA in advisory or discretionary mode the second trade would have alerted. Post #293 refers
I am using Trade0Alert1Both2 = 0 ........ this purely a trade mode and will place trades according to tk5's parameters (if you don't change anything) now I will try 1 and 2 also.

Quoting Dave_C
{quote} The first trade did not trigger because the RSI never came from a low signal and the HA (Heiken Ashi) candle never passed below the Short MA.
This one I have not understood correctly because I do not have much knowledge but i will read again and again try to understand the meaning want you want to say.

Regards,
Moti
  • #315
  • Edited 2:54pm Dec 9, 2014 2:42pm | Edited 2:54pm
Quoting Motiram
Hello Dave_C thank you for answering my question. {quote} I am using Trade0Alert1Both2 = 0 ........ this purely a trade mode and will place trades according to tk5's parameters (if you don't change anything) now I will try 1 and 2 also. {quote} This one I have not understood correctly because I do not have much knowledge but i will read again and again try to understand the meaning want you want to say. Regards, Moti
The Heiken Ashi Candle discussion can be found here
http://www.investopedia.com/articles.../04/092204.asp

In the EA the HA candle close is referenced in these lines in the EA

HA2Previous = (Open[2]+High[2]+Low[2]+Close[2])/4;
HA1Previous = (Open[1]+High[1]+Low[1]+Close[1])/4;
....
if ((HA1Previous > CurrentFastMA ) && (HA2Previous <= PrevFastMA) ...
....
if ((HA1Previous < CurrentFastMA ) && (HA2Previous >= PrevFastMA) ...
  • #316
  • Dec 9, 2014 3:14pm Dec 9, 2014 3:14pm
Quoting Dave_C
{quote} The Heiken Ashi Candle discussion can be found here http://www.investopedia.com/articles.../04/092204.asp In the EA the HA candle close is referenced in these lines in the EA HA2Previous = (Open[2]+High[2]+Low[2]+Close[2])/4; HA1Previous = (Open[1]+High[1]+Low[1]+Close[1])/4; .... if ((HA1Previous > CurrentFastMA ) && (HA2Previous <= PrevFastMA) ... .... if ((HA1Previous < CurrentFastMA ) && (HA2Previous >= PrevFastMA) ...
Dave_C thank you for your kind help, I will go through the link and collect all necessary information has been great help of you.

Regards,
Moti
  • #317
  • Dec 9, 2014 6:09pm Dec 9, 2014 6:09pm
hello all, please help me to corret my setup..i thought it will up..but the last HA candle go down
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Beginners Luck
  • #318
  • Dec 9, 2014 7:21pm Dec 9, 2014 7:21pm
Thanks tk5 for sharing your ideas. I'm testing your system in a simulator. I'm going for 10 pips. I made some changes in your rules (just an experiment) but your ideas are still the heart of all. Hope you and all the people round here like the chart.
Blue arrows are entries and the yellow ones exits. 3 trades. Leave the last one because don't respect any rule.
Sorry for my bad English.
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  • #319
  • Dec 9, 2014 8:55pm Dec 9, 2014 8:55pm
Quoting goldieboy
hello all, please help me to corret my setup..i thought it will up..but the last HA candle go down {image}
There were no trades on that chart at all according to the trade rules. At the close of the candle with the blue arrow there is no buy trade because the candles are below the Long MA and no short trade at the "enter?" because the RSI has not come from the 70 level.
  • #320
  • Dec 10, 2014 1:55am Dec 10, 2014 1:55am
TK5
I am slowly falling in love with you. Can not thank you enough for sharing your method. First trade of the day took two minutes
Need one more and I can stop for the day!.
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