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Magic 5 - five pips only

  • #961
  • Nov 17, 2015 7:43am Nov 17, 2015 7:43am
Quoting getn5
{quote} Hi, also interested in your new video TK.
I will record video..although for some technical reasons I failed record from browser screen..Screencastify plugin has error.
always draw trendlines
  • #962
  • Nov 19, 2015 6:59am Nov 19, 2015 6:59am
I uploaded a new video to my Youtube channel...
this trade took 31 minutes.
questions are welcomed.

Inserted Video
always draw trendlines
  • #963
  • Nov 19, 2015 9:45pm Nov 19, 2015 9:45pm
Thanks for the video tk5.
Looks to be a great part of the world where you live.
Cheers,
Ronald
Ronnie Renko
  • #964
  • Nov 23, 2015 6:14am Nov 23, 2015 6:14am
I can make 5/6 pips all the time-however when I take a loss I stay in the trade too long and give back 10-15 pips each time. I know you said no stop loss but I do not feel safe without.Please advise.
  • #965
  • Nov 23, 2015 8:06am Nov 23, 2015 8:06am
It does not work like this bro.

You need to risk vs reward. 5X

Risk 20 to make 100.. Over and over and over.

Nobody knows what the market is going... Not even god.

Just try to get the entry right and don't change your plan.
Back from the dead * ding fries are done *
  • #966
  • Nov 23, 2015 9:04am Nov 23, 2015 9:04am
I understand your explanation but how does this fit into the context of this strategy?If you go for 5 pips you only have a 1 pip risk?
  • #967
  • Nov 23, 2015 9:15am Nov 23, 2015 9:15am
Quoting ds9james
I understand your explanation but how does this fit into the context of this strategy?If you go for 5 pips you only have a 1 pip risk?
What I'm trying to say is that " if " anyone could guarantee 5 pips, they would be a trillionair in 3 months.

It is simple math. Just think about compound interest. It is not possible to win every time. You will have losses and winners.

Risking 1 pip is not possible because entry is to volatile and you will be stopped out to quick.
Back from the dead * ding fries are done *
  • #968
  • Nov 23, 2015 9:48am Nov 23, 2015 9:48am
Quoting ds9james
I can make 5/6 pips all the time-however when I take a loss I stay in the trade too long and give back 10-15 pips each time. I know you said no stop loss but I do not feel safe without.Please advise.
no I never popularised no stop-loss approach...However, if you continoulsy monitor your trade staring at monitor..you are the Stop-loss.

but 5 pips and 1 pip stop-loss..theres not such thing in our context (theres no risk/reward ratio thing here). Just place your SL below/over last HA candle of opposite color..just in case.
always draw trendlines
  • #969
  • Nov 23, 2015 11:46am Nov 23, 2015 11:46am
About SL - one year ago - Tk5 said :
"Hey nation, I commented about stop-loss thing in earlier posts. I repeat again.
I manage Sl manually since m15 is volatile timeframe.
However, you can apply SL over/below last HA candle of opposite color as shown below:

Attached Image (click to enlarge)
Click to Enlarge Name: w1iww.jpg Size: 112 KB


In general, range of SL is up to your account equity and position size."

Please , try to read and study the whole thread, before asking so simple questions.
Thank you.
  • #970
  • Nov 23, 2015 1:24pm Nov 23, 2015 1:24pm
Quoting redoktober
About SL - one year ago - Tk5 said : "Hey nation, I commented about stop-loss thing in earlier posts. I repeat again. I manage Sl manually since m15 is volatile timeframe. However, you can apply SL over/below last HA candle of opposite color as shown below: {image} In general, range of SL is up to your account equity and position size." Please , try to read and study the whole thread, before asking so simple questions. Thank you.
Appreciate contribution mate
always draw trendlines
  • #971
  • Dec 15, 2015 9:22am Dec 15, 2015 9:22am
Thanks TK5. i have tried these approach on my demo after following these thread from last year.Nov.i had to register to b member of Forex factory jst bcoz i want to reply to ur thread.i have put 68 trades so far.35 of them without looking at the position of Ema 200 BUT ONLY RSI. 30 wins average 4-6 pips each.33 trades observing n following EMA 200 and RSI i.e long when above EMA 200 and in the region of 30 at RSI and vice versa at 70 RSI and below EMA 200, after i see the said set up and amazingly i had 33 wins i.e 100%.trading has never been made simple like these?????
  • #972
  • Dec 16, 2015 4:29am Dec 16, 2015 4:29am
Quoting daviekim
Thanks TK5. i have tried these approach on my demo after following these thread from last year.Nov.i had to register to b member of Forex factory jst bcoz i want to reply to ur thread.i have put 68 trades so far.35 of them without looking at the position of Ema 200 BUT ONLY RSI. 30 wins average 4-6 pips each.33 trades observing n following EMA 200 and RSI i.e long when above EMA 200 and in the region of 30 at RSI and vice versa at 70 RSI and below EMA 200, after i see the said set up and amazingly i had 33 wins i.e 100%.trading has never been made...
appreciate Dave..
kindly drop me an email telling more: [email protected]
always draw trendlines
  • #973
  • Dec 16, 2015 10:11am Dec 16, 2015 10:11am
Since today it's impossible to trade ( due to dear lady Yellen/FED ) , I dedicate a bit of time to my favourite thread.

In effect , Ema200 and Rsi work well together , BUT often the position of Ema200 does not allow the opening of operations that turn out to winners : so we lose
opportunities of winning trading .
Therefore, it depends of trader's style : few safe operations , or more trades with a bit more risk ?
There is also another solution : replace Ema200 and Rsi with other filter-indicators. I did some tests , and if you want I'll give the results.

PS : no revolutionary things, because I am convinced that Tk5 method is a great idea and a great system and we must respect it.
  • #974
  • Dec 16, 2015 12:45pm Dec 16, 2015 12:45pm
Yap i agree with you redoktober,its difficult for trade to obey 200EMA and RSI rules according to tk5 strategy most of the time they run opposite of each other, its rear to get trade using solely the 200 EMA ans RSI as stipulated by tk5 in fact i have only come across a few over some months but they all turned positive.we need to have another indicator I think so to.
  • #975
  • Dec 17, 2015 12:21am Dec 17, 2015 12:21am
Quoting redoktober
Since today it's impossible to trade ( due to dear lady Yellen/FED ) , I dedicate a bit of time to my favourite thread. In effect , Ema200 and Rsi work well together , BUT often the position of Ema200 does not allow the opening of operations that turn out to winners : so we lose opportunities of winning trading . Therefore, it depends of trader's style : few safe operations , or more trades with a bit more risk ? There is also another solution : replace Ema200 and Rsi with other filter-indicators. I did some tests , and if you want I'll give the...
could you spill out the results and what indicators you replaced it with, i have the same challenge of missing out on some potentially profitable trades because the EMA200 and RSI dont rime.....i appreciate
  • #976
  • Dec 17, 2015 2:07am Dec 17, 2015 2:07am
Quoting daviekim
Yap i agree with you redoktober,its difficult for trade to obey 200EMA and RSI rules according to tk5 strategy most of the time they run opposite of each other, its rear to get trade using solely the 200 EMA ans RSI as stipulated by tk5 in fact i have only come across a few over some months but they all turned positive.we need to have another indicator I think so to.
to solve this you can lower RSI levels to 67-33 for more set-ups.

Originally, there was no RSI thing...later, when some traders here required more solid confirmations I suggested them to add RSI.

On this picture, when under 200 for instance...Numerous RSI signals happen on 67-33 and the rest set-ups are obvious anyways...No need for RSI
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 111 KB
always draw trendlines
  • #977
  • Dec 19, 2015 2:34am Dec 19, 2015 2:34am
I am interested in the 5 pip system.
  • #978
  • Dec 25, 2015 5:04am Dec 25, 2015 5:04am
SEASON'S GREETINGS to all mates!
Wishing t 2016 pips for all next year!
always draw trendlines
  • #979
  • Jan 2, 2016 6:44am Jan 2, 2016 6:44am
i think its only appropriate to say happy new year to tk5 especially and the house in general.......@ tk5 thanks for the wonderful system you have given out freely more green pips to your equity....cheers
  • #980
  • Jan 9, 2016 10:10am Jan 9, 2016 10:10am
tk5 did you ever try this system on spx or dax
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