the longer it sits in this range the less confident i become. shorting here feels too comfortable and obvious. not a lot of fun being short into euro open.
Yeah I agree, Iād hate to watch it go sideways for too long. It could also go down without even hitting our entry point.
well, iām already short from the 4hr pattern. scaled in at 93.07 and 93.14ā¦gulp
Hello this is Luis AKA TMoneyBag, last year I had shown you all my modified trading method of the Gartley and Butterfly patterns. In addition, I had taken a small hand full of traders like you to teach personally through skype (your progress seems to be showing on these threads wrtm_19). Apart from this, I spent the last season of '09 devising a new way to control profit loss no matter how big or small your account maybe. As a result, I have learned to implement my own hedging technique that goes along side trading the patterns we see daily.
Bellow are my trading results from July '09 until now. Please keep in mind that I have entering between 20-29 trades monthly (barely taking a trade a day).
Thank you all for continuing to support this thread by posting your comments and āspreadingā the word ;). On a side note, I will be searching again for 7 students whom I may teach for a few weeks before I return to this thread and teach all my new re-defined techniques.
*I will be posting a full detail of my results for the past 6 months shortly (2-3 days). Happy New Year!!!
hi tmoney, and congratulations on your fantastic results!
itās great to have you back contributing to the thread, and i look forward to learning from you.
all the best,
modo
Hi Modo,
I am a green horn on forexā¦and trying to follow TMB adviceā¦
I tried to use your USDAUS plot to learn the gartley chartā¦XABC is
not a problem but may I know how to identify the point Dā¦
it converges at 1.272/1.618 but i am unsure about the time frameā¦
i have been watching TMB youtube video but again and againā¦i could not
catch his explanation on point Dā¦lost with the time frameā¦
please adviseā¦thanks
hello okidoru,
it seems like you understand fine, but my two aud charts of different timeframes may have confused matters.
just as with all multi-timeframe analysis, patterns are fractal, with longer term timeframes exerting pressure and direction on the shorter. so you need to be careful taking shorter timeframe patterns that there is not a pattern on a higher timeframe that will exert influence. the aud posted is a good example.
if you are going to trade the shorter timeframe you need to adjust limits accordingly, and not get greedy turning a scalp into a position.
perhaps best to concentrate on patterns of 30min+. this way you can trade less an concentrate on fewer, higher probability patterns.
but this is just my understanding. iām sure there are others out there more qualified to answer your question
Welcome back TMB! I canāt wait to hear more about your developments to your system.
nice pips. good to see you back
Welcome back Luis! Great to hear from you again. 
What are the chances I get back on this thread and a few days later Luis is back as well. Awesome! This is the best system I have ever used and all the info you need is right here.
Anyways I just Got on today to start looking for more patterns setting up. Just wondering if anyone else has found any good ones forming todayā¦
hi guys,
sorry about the short timeframe, but i thought this might be of interest for anyone with a short au bias from yesterdayās 4hr pattern.
iām not necessarily suggesting taking these trades, itās not a great time of day for initiating positions, but i thought it was interesting that we get the same D (.9277) using 2 different Xās. maybe an area worth watching.
Great patterns, since Iām trading the 8hr chart Iām still riding south yesterdayās trade. Did you close your position?
no, iām still short too. took itās sweet time didnāt it!
i also picked usd/cad on the lows basis the au patternā¦sweet.
Cool! Youāre on fire! Now whoās gonna buy the next drinks huh?
well, itās not a good trade until you book it (although i have taken partial profits already).
iām still not convinced we get any follow through, but feel the risk/return warrants holding long dollar trades at this point.
fingers crossed.
hey wrtm,
any other patterns on your radar?
Actually no, not for the next few hours. Iām just scanning the longer timeframes, so it takes time for them to get ready. :rolleyes:
fair enough, would be good if we get some on the yen crosses.
Alright, it is time to start seeing some action. Anyone got their eyes on something yet? Iāll post if I find something worth watching. Iāll be on my skype too. (same name)