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Magic 5 - five pips only

  • #561
  • Dec 15, 2014 8:10am Dec 15, 2014 8:10am
Quoting tk5
{quote} wrong indicator, mate.
ok what about AUDUSD now?
  • #562
  • Dec 15, 2014 8:11am Dec 15, 2014 8:11am
Quoting Dave_C
{quote} Done. Believe on blindly. you lemon.! I will deal with people with intellect.
Me lemon. You banana.
  • #563
  • Dec 15, 2014 8:12am Dec 15, 2014 8:12am
[Quote = IceHot; 7944844] {quote} o ok sobre AUDUSD agora [/ quote]
Below is the EMA200.
  • #564
  • Dec 15, 2014 8:14am Dec 15, 2014 8:14am
Quoting IceHot
{quote} ok what about AUDUSD now?
wait US news in 1 min
always draw trendlines
  • #565
  • Dec 15, 2014 9:11am Dec 15, 2014 9:11am
This is a screenshot of my last successful trade, what do you do when the price is this close to the EMA200? It was technically below when I entered, I was more nervous about it then normally though.
Attached Image (click to enlarge)
Click to Enlarge Name: Snímek obrazovky 2014-12-15 v 16.04.45.png Size: 73 KB
  • #566
  • Dec 15, 2014 9:20am Dec 15, 2014 9:20am
good entry ..you have entered below 200 , and gone short good stuff
  • #567
  • Dec 15, 2014 9:37am Dec 15, 2014 9:37am
What about the RSI already at 30 ?
  • #568
  • Dec 15, 2014 11:22am Dec 15, 2014 11:22am
Hi tk5,
Thank you for posting a profitable system.
I am using it since last week with success
6- Profit Trades
2- Break Evens
1- Loss

I am using the following approach. Before starting the trading day
1- Review the upcoming news
2- Draw trend lines.
3- Review Daily/weekly Pivots
4- Get ready to push the trigger when price crosses the EMA. tk5 method (EMA, Long EMA, RSI 8)
5- Use 32% or 50% fib to enter the market (just to ensure not to enter on a candle wick)
6- 5 pip profit and manual SL monitoring.
Note: I sometime ignore the long EMA if the price is at a pivot or support level.

Now a question tk5, As the trade win ratio is so high, do you recommend to double the lot size after a loss. For fast recovery?

I am including a News indicator for participants of this thread, it will draw a horizontal line for each news release on the chart. I enable it only for medium & high importance news.
Make sure to turn on the lines & turn-off the news table. (to avoid clustering your charts)

Once again thanks a lot.

Best Regards
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 55 KB
Attached File(s)
File Type: ex4 NewsCal-v107.ex4   29 KB | 305 downloads
  • #569
  • Dec 15, 2014 12:35pm Dec 15, 2014 12:35pm
Another very profitable day with a nice gain in my live account...thanks TK5...

Cheers
Attached Image
  • #570
  • Dec 15, 2014 1:00pm Dec 15, 2014 1:00pm
1 Pips short of 200

But now 11 days of triple digit pips in a row.

Btw, which software can I use to make screenshot and easily post it.

@olarion1975: How do you display this?
  • #571
  • Dec 15, 2014 1:25pm Dec 15, 2014 1:25pm
Quoting SeaTheStars
1 Pips short of 200 But now 11 days of triple digit pips in a row. Btw, which software can I use to make screenshot and easily post it. @olarion1975: How do you display this?
I use windows screen print ALT+print and paste it in irfanview. Then I crop the pic and save as PNG.
  • #572
  • Dec 15, 2014 1:32pm Dec 15, 2014 1:32pm
And another quick +6 pips on GPB/AUD for about 4% gain...done for today.
Attached Image (click to enlarge)
Click to Enlarge Name: Zwischenablage01.png Size: 26 KB
Attached Image
  • #573
  • Dec 15, 2014 7:07pm Dec 15, 2014 7:07pm
Good work people. Lets get on with making pips from this simple idea. Its worked really well for me so far.
Winners add to winning trades!
  • #574
  • Dec 15, 2014 10:40pm Dec 15, 2014 10:40pm
Mr.TK5,
Just curious as to why you did not incorporate the 50 level into the RSI. I have seen numerous times where price stalled and hung around the 50 level before turning down or up, this would have helped a trader make a more confident decision as to the direction of trade.
PC
  • #575
  • Dec 15, 2014 11:10pm Dec 15, 2014 11:10pm
Quoting PipCop
Mr.TK5, Just curious as to why you did not incorporate the 50 level into the RSI. I have seen numerous times where price stalled and hung around the 50 level before turning down or up, this would have helped a trader make a more confident decision as to the direction of trade. PC
In my experience when price hits the 50 line it could go anywhere. Taking trades down from 70 or up from 30 is more reliable. TK5 is after a quick but accurate signal. If you suspect otherwise, then test it and present it to the thread.
Winners add to winning trades!
  • #576
  • Dec 16, 2014 12:42am Dec 16, 2014 12:42am
Quoting SeaTheStars
1 Pips short of 200 But now 11 days of triple digit pips in a row. Btw, which software can I use to make screenshot and easily post it. @olarion1975: How do you display this?
if you are on windows download GreenShot, (http://getgreenshot.org/) free / open source and as good as it gets
  • #577
  • Dec 16, 2014 1:32am Dec 16, 2014 1:32am
Two trades in the pocket for a total of 16.7 pips that equals to a 12.5% gain (calculated from beginning of the week).
Pairs: NZD/USD and USD/CHF.
Trying to double my account until Friday...looks good so far.
Done for the day!
Attached Image
  • #578
  • Dec 16, 2014 1:33am Dec 16, 2014 1:33am
Quoting Olarion1975
Two trades in the pocket for a total of 16.7 pips that equals to a 12.5% gain (calculated from beginning of the week). Pairs: NZD/USD and USD/CHF. Trying to double my account until Friday...looks good so far. Done for the day! {image}
good shots

would you mind posting your charts
  • #579
  • Dec 16, 2014 2:09am Dec 16, 2014 2:09am
Hi,
I have found that the "5pips" needs to be 7-12 movement dependent on spreads and stops are usually 15-20 which means that I have lost 100pts on first 10 trades. Do not recommend this system.
  • #580
  • Dec 16, 2014 2:20am Dec 16, 2014 2:20am
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.jpeg Size: 154 KB
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