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Magic 5 - five pips only

  • #421
  • Dec 11, 2014 7:04pm Dec 11, 2014 7:04pm
Quoting Chaz-e
I'm a mystery/fiction author (16 books published) so I write down little sayings in my Forex Journal as I go along.. one of the hardest things in following TK's system here is to keep the greed in check.. I've made several trades this week where I made the 5 Pips and closed out only to realize later I could have made 12 or 15 pips had I held on longer.. and this is a note I made beside the last 5 pip winning entry I had while ago.. "Stop weeping over what you could have made... and rejoice over what you did make..." I know that's nothing to do with...
  • #422
  • Dec 11, 2014 9:14pm Dec 11, 2014 9:14pm
Quoting olimpia
Not spam mate.. just try. you talking about magic.. maybe this is magic.. try it..

If I remember right, you started a thread on ff and then went "commercial" on your facebook page.....
http://www.forexfactory.com/showthread.php?t=505599 .....why don't you start your own thread, since the to has repeatedly stated
"No additional indicators".....
  • #423
  • Dec 11, 2014 10:41pm Dec 11, 2014 10:41pm
Quoting Chaz-e
I'm a mystery/fiction author (16 books published) so I write down little sayings in my Forex Journal as I go along.. one of the hardest things in following TK's system here is to keep the greed in check.. I've made several trades this week where I made the 5 Pips and closed out only to realize later I could have made 12 or 15 pips had I held on longer.. and this is a note I made beside the last 5 pip winning entry I had while ago.. "Stop weeping over what you could have made... and rejoice over what you did make..." I know that's nothing to do with...
Yep you are right for me. I have been looking at getting 10 pips per trade or using trailing stops. Why i have looked at this is purely greed. Sometime it has paid off other times it hasn't. However just sticking to TK5's rules since I found this thread which is just a week ago I would have taken 26 trades of which 22 have won. I have over traded as its a demo account live I will stop once I have my +10 pips a day. This can give me 10% of my account a week..
Thank You TK5.... having reread my post myself... I will stop tinkering now as its not needed and demo my results. If it it stays this way for a little longer i will soon be live I hope. With many days like yesterday hopefully both trades closed in 5 minutes after entry before 8;45 GMT the rest of the day to chill.
  • #424
  • Dec 11, 2014 10:53pm Dec 11, 2014 10:53pm
First +5 just 5 more needed then stop for the day
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  • #425
  • Dec 12, 2014 12:47am Dec 12, 2014 12:47am
Olá pessoal, tenho observado que ninguém entra poucos bons negócios devido ao MM200 RSI dá o sinal, mas o preço é baixo / up MM200 e não entrar, eu sei as regras, mas muitos comércios que são feitas e não poderia a 5 pips .
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  • #426
  • Dec 12, 2014 12:59am Dec 12, 2014 12:59am
what the ...? WHAT ?
  • #427
  • Dec 12, 2014 1:57am Dec 12, 2014 1:57am
Quoting macdh4
Olá pessoal, tenho observado que ninguém entra poucos bons negócios devido ao MM200 RSI dá o sinal, mas o preço é baixo / up MM200 e não entrar, eu sei as regras, mas muitos comércios que são feitas e não poderia a 5 pips . {image} {image}
Hello Macdh4

You welcome to take those trades if you willing to risk it. Just remember that TK5 is trying to teach us to follow the trend and teaching us discipline. To only take the safe trades. Yes i agree sometimes those are tempting but i to tried those and lost some money. I only trade on a live account. No demo. Its easy to say those would have worked afterwords ( please correct me if i am wrong) but at that specific moment it will be against all the rules.

(Google translate)
É bem-vinda para tomar essas negociações se você está disposto a arriscar. Basta lembrar que TK5 está tentando ensinar-nos a seguir a tendência e nos ensinando a disciplina. Para citar apenas os comércios seguros. Sim, eu concordo, por vezes, aqueles são tentadores, mas eu tentei para aqueles e perdeu algum dinheiro. Eu apenas o comércio em uma conta real. Nenhuma demonstração. É fácil dizer quem teria trabalhado afterwords (por favor me corrijam se eu estiver errado), mas naquele momento específico que vai ser contra todas as regras.

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Like now at this moment the EUR is setting up for one of those against the trend trades. depending on the next candle but the RSI is looking good to go short.
  • #428
  • Dec 12, 2014 2:16am Dec 12, 2014 2:16am
Olá Henry, concordo contigo, eu so entro Conforme Como Regras Fazer TK5, Uma duvida MM200 DEVE Ser Simples OU exponencial?

I verificada é exponencial estava fazendo confusão
  • #429
  • Dec 12, 2014 2:23am Dec 12, 2014 2:23am
That RSI shows + 2 lines what are they?
  • #430
  • Dec 12, 2014 2:28am Dec 12, 2014 2:28am
Quoting macdh4
Olá Henry, concordo contigo, eu so entro Conforme Como Regras Fazer TK5, Uma duvida MM200 DEVE Ser Simples OU exponencial? I verificada é exponencial estava fazendo confusão
Ola Macd4

The 200 must be exponential. I follow the Hourly 200EMA. So if price is above 200EMA on hourly i buy. If bellow i only sell. Like TK5 says. "1 trade an hour." otherwise we overtrade. Ones you get the hang of the rules and comfortable with the method then if you want to be stressed out do more than one an hour. Sorry TK hope on not misleading the people here.

(Google Translate)
A 200 deve ser exponencial. Eu sigo o 200EMA por hora. Então, se o preço está acima 200EMA em horária i comprar. Se abaixo eu só vendo. Como TK5 diz. "1 negociar uma hora." caso contrário, superprodução. Ones você pegar o jeito das regras e confortável com o método, em seguida, se você quer ser forçado para fora fazer mais de uma hora. Nervoso esperança TK Desculpe em não induzir em erro as pessoas aqui.
  • #431
  • Dec 12, 2014 2:31am Dec 12, 2014 2:31am
Quoting macdh4
That RSI shows + 2 lines what are they?
Sorry breaking TK5 rules here. They just stochastic loaded on to the RSI but please as with tk5 rules only load the basics. Its just my personal preference here. Sorry TK5

(Google Translate)
Desculpe regras quebra tk5 aqui. Eles só estocástico carregado no RSI, mas por favor como às regras tk5 apenas carregar o básico. Seu apenas a minha preferência pessoal aqui. TK5 Desculpe
  • #432
  • Dec 12, 2014 2:52am Dec 12, 2014 2:52am
Quoting haircut
First +5 just 5 more needed then stop for the day {image}
Just out of curiosity. Do you stop because you don´t want to invest more time? I don´t get it why you should stop after making 2 successful trades when you can get even more. Or is it a mindset issue. You don´t want to lose it again if you continue.
  • #433
  • Dec 12, 2014 3:01am Dec 12, 2014 3:01am
Quoting SeaTheStars
{quote} Just out of curiosity. Do you stop because you don´t want to invest more time? I don´t get it why you should stop after making 2 successful trades when you can get even more. Or is it a mindset issue. You don´t want to lose it again if you continue.
This is discipline! He sticks to his trading plan and that is all about.
When you do this for months and you are consistently profitable, then you can start to crap some extras and bonuses.
  • #434
  • Dec 12, 2014 3:02am Dec 12, 2014 3:02am
today trades, 3 trades, 3 wins!
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  • #435
  • Dec 12, 2014 3:10am Dec 12, 2014 3:10am
tk5,

Need your advice on next possible trade on AU.

If the current candle closes like this, could be a buy on the next one? Sentiment is bullish although we are below 200EMA
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  • #436
  • Dec 12, 2014 3:12am Dec 12, 2014 3:12am
Quoting Dave_C
{quote} As much as you have to wade through posts, I don't particularly want to wade through PM's or for that matter emails but I respect your sentiment. As it is being inferred that I am hijacking your thread, I am at a loss of what to but I would never start a thread with your idea. Likewise I understand what you are saying about personal emails. I'll leave it up to you and others to discuss. Anybody can send me an email but I will not add to this debate on this forum.
look Dave...i wont like a situation where you and bunch of guys develop EA based on this method but then not sharing it on this thread. No stealth mode here. As much as this thread is public anything started and developed from it hast be be shared here as well.
common sense.
always draw trendlines
  • #437
  • Dec 12, 2014 3:15am Dec 12, 2014 3:15am
Quoting SeaTheStars
{quote} Just out of curiosity. Do you stop because you don´t want to invest more time? I don´t get it why you should stop after making 2 successful trades when you can get even more. Or is it a mindset issue. You don´t want to lose it again if you continue.
There a a number of reasons. I got this mindset after reading the 00level trading thread here. This is what initially got me into this short scalping methodology but I could not get on with his system. This system however works great for me but his mindset makes sense to me. The reasons I would stop at that are

1) 2% a day is what I am looking for. I can get that in 10 pips. '10 pips a day is all you need to get rich. (A 1K account with 1 %/day compounding will grow into 1 million in 3 years)' that's a quote I did not do the maths and I would never have the confidence for that size trading but just say £10,000 account. 2% is £200 a day. £1000 a week.

2) I do not want to be sat watching the screens all day.... why would anyone want to do that. We live in a beautiful world. I am trading with a set 10 pip stop loss and I am taking 5 pips profit. If I get my 2 wins which is 10 pips and I then have 2 losers means I am minus 10 pips and I then need 2 more winners to just break even ( which is in fact not the case due to ecn broker commissions. So I could end up chasing the market watching my screens all day when the best trades happen in London open. Then either taking not such good set ups to chase my cash or just be sat in front of the screen all day )

2 winning trades.. take the money and run.... wake up and repeat the next day!. I am no expert as I said I am only on demo and I have only been trading this method for a week but the strike rate is 84.6%. I believe I can get to +10 most days. Once I am there I will stop. Being greedy will add to my work load when I could be on the beach or chilling out. If your bank offered you 10% a week you would snap its hand off. I do not need more. Yesterday and this morning I was finished by 9 am GMT. I am currently in Asia so I was on the beach this morning and I started 'work' here at 1:30pm and I could have been on the beach again by 3pm why trade any longer.

cheers
H
  • #438
  • Dec 12, 2014 3:20am Dec 12, 2014 3:20am
Quoting Mr.Ma
{quote} This is discipline! He sticks to his trading plan and that is all about. When you do this for months and you are consistently profitable, then you can start to crap some extras and bonuses.
yeah something like that. I am not always great with discipline....maybe if I was back in Blighty I may trade a few more trades than I should and last week I wa over trading purely to practice the method but now I am familiar with how I want to trade it and the fact its beautiful here helps me to stay focused on getting in and out and done for the day.
  • #439
  • Dec 12, 2014 3:21am Dec 12, 2014 3:21am
Quoting gigicualex
tk5, Need your advice on next possible trade on AU. If the current candle closes like this, could be a buy on the next one? Sentiment is bullish although we are below 200EMA {image}
looks ok technically..and fundamentally USD is on sell-ff these days
always draw trendlines
  • #440
  • Dec 12, 2014 3:24am Dec 12, 2014 3:24am
Thank you Tk5. The candle didn't close as expected, small doji, consolidation area now so I didnt take the trade
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