30 Pips A day Keeps the your money at bay

[TMoneyBags]

Originally Posted by Sweet Pip

OH NO...don't tell me you guys play WOW! I've got 2 teenage sons that play it and it's ALL they want to do! It really is a problem around here.

What server do you play on?

Yeah I play WoW... lol as you can see it minimized on some of the screen shots. But I make sure I make my money too! In what server? I have an Account on Mannoroth and just recently started a DK on Archimonde. I've just been doing the 10 day expansion trial periods... I'm rly ify about getting fully back in because of the "addiction". So far I guess I'm hooked lol, I'm going through my Second 10day Trial as we speak. If I do decide to buy the new expac and play then I will most likely stay in Archimonde with the DK and make Forex Guild lol.

[TMoneyBags]

Originally Posted by wrtm_19

OMG!! First trade and It worked!! It just reached the 30 pip tp and is still going up.

Thanks TmB
Sweet pip
Geodawg19

Happy trading!
....[/IMG]

Oh and WRTM... Asegúrate que BC siempre este entre XA. Esto incluye cualquier movimiento de precio despues de C hasta D. En el trade que meh has presentado, el precio despues de C sobre paso X y B.

Ok bellow is the reason you saw a Bounce and probably made some money off it. Even though the way you drew your pattern was wrong, there was in fact a gartley right at the .886 fib level. The problem though is that its convergence from XA .886 and the 200% of CD is a bit off. In addition, the X is not at the extreme and can lead to a failed pattern for the time frame used.

[TMoneyBags]

Looks Like our major USD/JPY trade has given us an opportunity to enter. Do to the fact that this is a Huge pattern and should be seen on the 4 hour chart (as a big one as well). It may consolidate for a while in the convergence area before it realizes. This trade has the potential of 240+ pips.

Bellow you will see that CD 200% converges with the .618 of XA. In addition not shown bellow but on a previous post, another CD converges at 100% at the exact same area. Also notice how price made "tweezer" bottoms before its original bounce, and that it still has not touched the 200% of CD.





Here is the the original post of the pattern:

USD/JPY 30/60 min Patterns Bullish

Originally Posted by TMoneyBags

*Note that there is a major pattern within a major pattern

[TMoneyBags]

Well it looks like the EURO/JPY may be reaching a D soon. There is great convergence at the 261% of CD and the .886 of XA. In addition, the convergence is right on a major support trend line starting from the bottom wick of 4/20 20:00 - 4/22 9:00.



Great possible pattern.

[TMoneyBags]

The USD/JPY trade came through and gave us our 30 pips. Great trade indeed and it looks like it definitely has the potential of reaching 240+ pips. But as stated previously on my posts, 30 pips is enough for me and allows me to avoid many fake outs and the issue of emotions (greed, fear, etc...).




Trade origin:
USD/JPY Major trade

Originally Posted by TMoneyBags

[TMoneyBags]

Originally Posted by Pipfinder305

Hey TMB,

I like what I see. Keep it up! I attached a chart.... am I on the right track? LOL.

Proud of you,

C

LOL took me a minute to realize who you where thanks for checking the blog out Sensei. Try and check it out more often, every pattern I trade or see I will be posting it on here. Good Luck with your trading and tell Larry to send me some charts please!

-Edit-
Just noticed I traded that pattern you posted lol I saw it and snatched 35.6 pips from it before it failed

[TMoneyBags]

Here's a tip for finding and drawing your patterns:

This applies to trading platforms that have a Bid/Ask view option such as Marketscope 2.0

If you are drawing a Bullish pattern, make sure you are doing this on the ASK. If you are drawing a Bearish pattern, make sure you are doing this on the BID. An easy way to remember this is Buy = ASK and Sell = BID. Or 2 Boys = no no (no offense to any one out there that's offended... )

The correct use of this is key for Exact market entries and many times the miss use of this can lead to false or bad convergence. This is one of the reasons why I can make trades such as the ones on the first post, where I catch the very tip of price and make excellent fast profit.

Which can be seen here:

Originally Posted by TMoneyBags

[TMoneyBags]

Bellow is the first pattern traded when I created this thread and It is also the first pattern I have ever posted on the baby pips forums.

Notice how this pattern reached its third target for a total of 300 pips throughout the week.



I post this not to encourage you to trade to the higher targets of patterns but so that you can have the confidence and knowledge of how powerful a pattern can be. And this is just the example of a decent sized 30 min one. But as you can see form last weeks results, making the small almost guaranteed 30 pips per trade made me 350+ pips for the week. Proving that being consistent and disciplined will lead to good results.

If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude.
Colin Powell

[nlrsniper]

TMB,

Again I just wanted to say thanks for starting this thread. It's great to see people give back like this and assist with educating others. Finals are here so I haven't been able to follow this thread as I would like, but I have a copy of the book you recommended and have been looking over it as time permits. I was thinking earlier about how this adds a degree of "fun" to trading. Albeit in the best of our interest to maintain an emotion free trading mentality, to see these patters come together and price move exactly as we predict is exciting to say the least. "Prophetic!" For me money is an after thought to this form of trading.

Other than the previous books mentioned, has there been other educational material that has attributed to you getting to where you are today with trading? I know you make mention of babypips as your initial starting point, but just wondering if other things assisted you along the way.

Don't start playing WoW again. That slight craving to play again should remind your of the hours of grinding that contributed to a large amount of time being wasted in life. lol let making money be your opiate... not WoW.

Gracias Para Todo Amigo;
Saludos
Eric

[Pipfinder305]

After the first one failed to complete itself fully, it created another pattern. Lets see if this one completes itself. The number one thing is to never give up on a trade. I took 30 pips from the first one and I plan to take 30 pips from this one.

Lets see how it works out!!!