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Magic 5 - five pips only

  • #901
  • Feb 10, 2015 11:43am Feb 10, 2015 11:43am
Quoting Tollazor
So, How did I go? I ballsed it up, jumped the gun and entered too early. However I managed to nurse it through the 1min with a 2nd 5 pip trade which brought my overall loss quite low. I nursed it selling at the downturn of the first peak. Overall score: 3 / 10. Too hasty for could have been an easy trade on 1 the 1min graph. I'm still learning the nature of the Wild Beast, USDJPY. Here is the 1 min: {image}
Hey Tollazor, thanks for your words. Appreciate. So you do progress as I understand. Although, if you elaborate on your questions more clearly I will definitely comment on them.
always draw trendlines
  • #902
  • Feb 10, 2015 3:48pm Feb 10, 2015 3:48pm
Well I don't so much have direct questions, the thread pretty much covers it all. I just have to trade the trade until I get an innate feeling of pullbacks/breakouts, learn a little patience and get a more solid feeling with the pairs that have a low spread. My brokers average spread is .5 to 1.5 depending on the pair. (except USDCHF that has terrible spread) The technique itself is really simple.

Yesterday I came across a lot of setups but going against the trends, I learned the value of trading with the trend as opposed to going against it. The bars generally move more easily and quickly if they are going in the direction of the trend. Although, it seems the RSI hits the 30/70 zone much more easily in the direction of the trend. This makes the 'ideal' setups, right direction, RSI on the right side much rarer than the opposite.

Still my overall wins/loss was pretty good. I came out negative due to some really stupid moves, the market spazed out a little last night with a big up move on the euro's and I tried to trade those, messed it up twice and it cost me a lot. Lesson: When the market decides to pull out the breaks, just wait until it calms down.

I suppose a question would be: What's the best way to gain a feeling of the sentiment of the moment. I suspect there is no other way than watching the bars dance for many, many hours.
  • #903
  • Feb 10, 2015 7:02pm Feb 10, 2015 7:02pm
I do have a question.

Have you witnessed that your buying or selling has pushed a bar with any meaningful force. What size trades are required to push a bar? Lets say you had a very large bank account and you wanted to hunt for peoples stops. How big a trade would it take to push a bar into a stop zone and try and trigger a cascade of stops on a 1min bar?
I'm assuming that is what those sudden price spikes/drops are that quickly and steadily shoot up and then drop down suddenly. The triggers were hit, cascade started then the pusher sold his, at this point, rather large position all in 1 big trade.

Am I on the ball with that or way off mark?
  • #904
  • Feb 11, 2015 4:09am Feb 11, 2015 4:09am
Quoting Tollazor
I do have a question. Have you witnessed that your buying or selling has pushed a bar with any meaningful force. What size trades are required to push a bar? Lets say you had a very large bank account and you wanted to hunt for peoples stops. How big a trade would it take to push a bar into a stop zone and try and trigger a cascade of stops on a 1min bar? I'm assuming that is what those sudden price spikes/drops are that quickly and steadily shoot up and then drop down suddenly. The triggers were hit, cascade started then the pusher sold his, at...
Toll, write me an email.
always draw trendlines
  • #905
  • Feb 26, 2015 1:41pm Feb 26, 2015 1:41pm
Finally I lost all fortune and time in Forex ,I've studed all stuff here forexfactory.
But seems difficult follow or some reason I coudn't follow it. and 5pips only seems work and simple.
But I regret I should have followed this 5Pips rules
  • #906
  • Feb 28, 2015 7:58pm Feb 28, 2015 7:58pm
Hi TK5,

Please, what's your email again?

cheers
  • #907
  • Mar 1, 2015 3:38am Mar 1, 2015 3:38am
Quoting REgroup
Hi TK5, Please, what's your email again? cheers
hi mates..
hope you enjoy trading...share whats up

email: [email protected]
always draw trendlines
  • #908
  • Mar 1, 2015 9:04am Mar 1, 2015 9:04am
Hi tk5 - The idea of getting 5 pips and getting out truly speak to me. That is my style, some don't like to monitor their trade, I actually find it less stressful compared to waiting for the trade to close (doing so I continue to think about it anyway...). I prefer to monitor it and react quickly according to PA.

What I need to perfect now is getting out as soon as there is a sign of reversal. That's a true challenge for a beginner and key with a system like this. I'll continue to read the thread as I saw some details about this.

Thanks tk5!
  • #909
  • Mar 1, 2015 12:41pm Mar 1, 2015 12:41pm
Welcome mate.
I'd like to see people showing charts..experiences..share
always draw trendlines
  • #910
  • Mar 1, 2015 12:45pm Mar 1, 2015 12:45pm
Also, I was thinking if someone would like to his funds to be managed I may consider doing it depending on investment size.

so far there have been cases some mates addressing to me about it, claiming that they are not yet ready to trade on their own. so I decided to look at requests.
always draw trendlines
  • #911
  • Mar 9, 2015 1:37am Mar 9, 2015 1:37am
Quoting tk5
So a simple and powerful way doing it turned out to be: +5 EMA (2 shift/offset) and 5 NET PIPS...and 30K-50K lot and 1:500 leverage. +RSI 8 +and of course non-news quiet times. --- Use only ECN account --- if you dont have much money use 1:500 leverage to be able to open at least 30K lots --- DONT FORGET: Trading is a business...Business requires investing!! Dont be stingy! 1. Enter (right on the second candle opened inside 5ema) Buy trades only if price is over ema200 (either m15 or H1 you choose) and only sell if below ema 200. 2. Dont regard...
Hi tk5,
Good way to earn a few PIPS that I looked for.
Could you please clarify the below settings:
1. RSI period 8/ RSI period 14 needs , which need to be used? Fixed maximum 100 on RSI settings?
2. EMA 200 with shift 0 or shift 2?
3. If 5 EMA is used to enter into the trade then how and when to use Heiken Aishi candle? And what are the setting of Heiken Aishi? Just standard?
4. What is considered as consolidated areas not to enter enter trade even 5 ema is crossed?

Thanks in advance.
  • #912
  • Mar 9, 2015 6:41am Mar 9, 2015 6:41am
Quoting rony007
{quote} Hi tk5, Good way to earn a few PIPS that I looked for. Could you please clarify the below settings: 1. RSI period 8/ RSI period 14 needs , which need to be used? Fixed maximum 100 on RSI settings? 2. EMA 200 with shift 0 or shift 2? 3. If 5 EMA is used to enter into the trade then how and when to use Heiken Aishi candle? And what are the setting of Heiken Aishi? Just standard? 4. What is considered as consolidated areas not to enter enter trade even 5 ema is crossed? Thanks in advance.
hi mate
RSI 14 - 70-30 is fine
200 with no shift
HA is your candle for confirming setup, its crossing ema, standard HA.
well, consolidated are is visually obvious.smaller candles. slow market
always draw trendlines
  • #913
  • Mar 9, 2015 10:35am Mar 9, 2015 10:35am
Quoting tk5
{quote} hi mate RSI 14 - 70-30 is fine 200 with no shift HA is your candle for confirming setup, its crossing ema, standard HA. well, consolidated are is visually obvious.smaller candles. slow market

Thanks mate.

In refer to RSI 14, which value range to be considered?ie, 60-70 uptrend for long/buy and 40-30 downtrend for short/sell? Or will the range differ?
What to do if the RSI trend is above the 70 or below the 30 line?

Many thanks.
  • #914
  • Mar 9, 2015 12:36pm Mar 9, 2015 12:36pm
Quoting rony007
{quote} Thanks mate. In refer to RSI 14, which value range to be considered?ie, 60-70 uptrend for long/buy and 40-30 downtrend for short/sell? Or will the range differ? What to do if the RSI trend is above the 70 or below the 30 line? Many thanks.
mate i think you need to learn more before using this strategy, you have no more idea about RSI or others indicators, so that at the first time you should learn more about that indicator then try to use this strategy, otherwise you will never get any benefit with this strategy.
  • #915
  • Mar 10, 2015 4:02am Mar 10, 2015 4:02am
E /U + 5....pips
Attached Image (click to enlarge)
Click to Enlarge Name: 14.jpg Size: 112 KB
  • #916
  • Mar 11, 2015 12:05am Mar 11, 2015 12:05am
Quoting tk5
So a simple and powerful way doing it turned out to be: +5 EMA (2 shift/offset) and 5 NET PIPS...and 30K-50K lot and 1:500 leverage. +RSI 8 +and of course non-news quiet times. --- Use only ECN account --- if you dont have much money use 1:500 leverage to be able to open at least 30K lots --- DONT FORGET: Trading is a business...Business requires investing!! Dont be stingy! 1. Enter (right on the second candle opened inside 5ema) Buy trades only if price is over ema200 (either m15 or H1 you choose) and only sell if below ema 200. 2. Dont regard...

Refer to: "and of course non-news quiet times."

Which news need to be considered? What are the news list respective the currencies?
Do you stay away for the whole day (7am-5pm London time)?

Thanks.
  • #917
  • Mar 11, 2015 2:42am Mar 11, 2015 2:42am
Your journey is just beginning...
  • #918
  • Mar 11, 2015 3:16am Mar 11, 2015 3:16am
....consider turning your account management over to TeKe, so you won't loose it all while you are learning
  • #919
  • Mar 11, 2015 5:35pm Mar 11, 2015 5:35pm
Quoting tk5
Also, I was thinking if someone would like to his funds to be managed I may consider doing it depending on investment size. so far there have been cases some mates addressing to me about it, claiming that they are not yet ready to trade on their own. so I decided to look at requests.
With all respect I think you can remove your complaint signature regarding your commercial status as you are now openly advertising your services as a trading account manager.
  • #920
  • Mar 12, 2015 12:35pm Mar 12, 2015 12:35pm
Quoting HitTheBid
{quote} With all respect I think you can remove your complaint signature regarding your commercial status as you are now openly advertising your services as a trading account manager.
well, I dont advertise, I share intention if anyone interested...advertising is intense, concrete...with me its optional even for myself. I can live without it like I have been.
always draw trendlines
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