30 Pips A day Keeps the your money at bay

[wrtm_19]

Originally Posted by Aragorn123

Hi guys,
I was trying to get a grip of this method and had a (potentially stupid ) question. Are there any conditions for choosing 'A' in the XABCD pattern. For ex - in the Aussie 4h chart attached, which one is my A - A1,A2 or A3.

Thanks a lot for your help. Really appreciate it.

No question is stupid here and....ok Ogna has already answered your question.

[Ogna]

Originally Posted by wrtm_19

Hi Ogna!! It can be from .32. Yours looks nice.! BTW Do you remember wich times of the day TMoneyBags said were the best to trade?

Cheers!

Hey WRTM!

I think TmB said London was the best, but I live in Florida and I don't want to wake up at 3:00 am haha

[Monster Trader]

Hey Guys I've been away for a few days, but I'm back now!

I'm also in on the USD/JPY, but I'm playing it on the 4 hr as an AB=CD

Also I'm in the Euro/Jpy, really sweet, so far got a little under 40 pips

Also in on the CAD/JPY and AUD/JPY (Late entry on the Aud/JPY but I played it on demo, otherwise I woulda skipped it )

[wrtm_19]

Originally Posted by Monster Trader

Hey Guys I've been away for a few days, but I'm back now!

I'm also in on the USD/JPY, but I'm playing it on the 4 hr as an AB=CD

Also I'm in the Euro/Jpy, really sweet, so far got a little under 40 pips

Also in on the CAD/JPY and AUD/JPY (Late entry on the Aud/JPY but I played it on demo, otherwise I woulda skipped it )

Hi monster trader!! How do you handle with your stop losses and take profit levels? I mean for the 4 hours patterns do you still go for the 30 pips? How many pips you willing to lose?

Thanks!

[wrtm_19]

Is somebody trading this pattern???? Usd/Cad 30 min.
Actualy same XA but different CD formed this morning and it worked perfectly. Didn't trade it because it was on the no no trading time. This one seems to be working.

[Monster Trader]

Originally Posted by wrtm_19

Hi monster trader!! How do you handle with your stop losses and take profit levels? I mean for the 4 hours patterns do you still go for the 30 pips? How many pips you willing to lose?

Thanks!

WRTM

What I've been noticing on the 4hr charts is that the best setups have a 'D' that forms at the 118%-161% Extension of the A-B swing.

So if 'D' forms between 118%-138%, I use 161% as my stop.
If the 'D' forms @ the 161%, I'll use the 200% extension as my stop.

I try to go for a 1-1 RRR, and then close out 1/2 - 3/4 of my position, and am letting the rest run until I get stopped out.
Although I am still demo-ing these patterns, and another possibility that I'd like to experiement with is to close out half after a 1-1 RRR is reached and let the rest run to either the 38% or 50% of the A-D swing (which is more like is taught in 'Trade What You See'.

Lot size is 1-2% of acct size, so I'll just adjust it depending on my stop and the currency that I'm trading.

Hope that helps!

[wrtm_19]

Originally Posted by Monster Trader

WRTM

What I've been noticing on the 4hr charts is that the best setups have a 'D' that forms at the 118%-161% Extension of the A-B swing.

So if 'D' forms between 118%-138%, I use 161% as my stop.
If the 'D' forms @ the 161%, I'll use the 200% extension as my stop.

I try to go for a 1-1 RRR, and then close out 1/2 - 3/4 of my position, and am letting the rest run until I get stopped out.
Although I am still demo-ing these patterns, and another possibility that I'd like to experiement with is to close out half after a 1-1 RRR is reached and let the rest run to either the 38% or 50% of the A-D swing (which is more like is taught in 'Trade What You See'.

Lot size is 1-2% of acct size, so I'll just adjust it depending on my stop and the currency that I'm trading.

Hope that helps!

Sure that helped! Thanks!

[wrtm_19]

[PerchTird]

wrtm 19 - thanks for your continued posts of your Gartley's.

Question(s)/Comment(s) on the last one for A/U.

I am recreating it - now, and I can at least some of what is going on.

But - how do you determine that "D" point? - I see it did turn right at the .786 of the XA leg - is that a magic number? sometimes D is there, sometimes it isn't - how do you know when/where is the appropriate 'D" - and actually at this time, I see the price moving back to that same D - can you get two trades out of this? (time will tell I guess)

[TMoneyBags]

Wow... What a rough week heh. It's incredible how just a few weeks off the market can throw you off. As you will note bellow, It was a power struggle to maintain the account. But the results hold true and money in the end of the week was not lost. As a note of the bumpy start, I believe that posting my trades as I did in the past was a key element to my prior success. As a result, from now on I will begin posting every action I take and thought I have in the market.





Ill see yall tonight at 2am EST.

*You may notice that I had hedged the last trades I made with the AUS/USD. This is because of the fact that the trade had closed beyond the conversion fib level but I still believed that I could proffit from the Buy's since the pattern looked like a Nice 4 hour push up. You will Also note that I had closed out the sell at 30 pips. I had left the trade open after proffiting from the Long because the over trend of the market is Dollar Strength. If you open the daily/weekly chart for this pair you will not only notice that price has exhausted itself, but it has also broken trendlines to drop. In addition to forming a pattern for a major short. See Bellow:




*I was able to hedge because my new accounts are in a country which supports this method (which I am using for the Automated accounts).