30 Pips A day Keeps the your money at bay

[modo]

Hi Duchas,

Nice work getting out of that gbpjpy with some pips.

Not sure what you think of this pattern or count. Aussie refuses to go down there must be some nervous shorts with a lot of stops above that we can exploit.

Looking at D more as a profit target for play on CD leg. Price broke C (just) last week. Thinking buy at market with .9123 stop oco .9204 limit.

[modo]

sorry, should have read .9404 limit, although maybe .9318 (1.272 XA) would be better

[Dr_Good_Pips]

Don’t TMB’s rules state convergence after 1.00CD as a minimum entry? I believe that would make the above not the optimal entry.

[modo]

Don’t TMB’s rules state convergence after 1.00CD as a minimum entry? I believe that would make the above not the optimal entry.

Right, but in this case it’s 1.27, so I don’t quite see the problem. I am not entering short here but long with D as the target.

Either way it’s probably premature to call this pattern. Sorry if I have confused.

[Duchas]

Hi Duchas,

Nice work getting out of that gbpjpy with some pips.

Not sure what you think of this pattern or count. Aussie refuses to go down there must be some nervous shorts with a lot of stops above that we can exploit.

Looking at D more as a profit target for play on CD leg. Price broke C (just) last week. Thinking buy at market with .9123 stop oco .9204 limit.

I am not trading AUD/USD at the moment, it seems to behave in a way i dont already understand ot have the time to understand it, but the way if you want my opinion i will probably going short before RATE STATEMENT this week, with SL:30 PIPS TP:150, i see a potential on this trade if i get “luck” and rates are not changed. Btw if rates really change i can be lucky and still closed the trade before it gets to 30 pips.

[modo]

Yeah, you’;re probably right. I’m bearish on the pair but thought we might get one more push and break a few hearts before moving lower for real.

[charlesmneo]

had 2 poor trades to start the week , lets see how today goes.

[TMoneyBags]

Be careful of your charting software and candle stick closes today with the EUR/USD (Use multiple charting software to confirm a close). See bellow…

Charting Software Fakeout:

Actual Close (above .618)

Again, use multiple charting sofware this week when confirming closes on the Euro… errors like these are their to “steal” your money and throw off your analysis especially if you have a high win % (this is not uncommon to see once you reach a steady win % in these markets… the unfortunate truth…)

*PS Perfect convergence for the Eur/Usd is at the 1.33052 of price for a bullish movement. In addition, similar convergence can be seen on the USD/CHF for a bearish sell at 1.08365. Expect fake outs on the lower time frames and long term positions towards these numbers (using low lots) can be done (try it on a demo).

[modo]

Thanks TmoneyBags,

I took the first convergence .618/1.272 and am paying the price.

[TMoneyBags]

Thanks TmoneyBags,

I took the first convergence .618/1.272 and am paying the price.

the 30 min close is your friend ;)… that’s why I only lost 12 pips on that one. Be mindful that since it is a 4 hour pattern, the convergence may still hold (12pm open will be the deciding factor).

[TMoneyBags]

Hi TMoneyBags,

I’m just getting into Forex. And though I have a great deal to learn, I also don’t want to sift through mountains of material in order to be able to find a strategy that works. Additionally, I’m not just wanting to jump in and lose money, either. So paper trading will be something I do until I get comfortable.

On that note, can you provide me with some insight into your method? Can you tell me about the books, CDs, DVDs pdfs that would help me understand this strategy that you use? I know I’m asking for a lot, but I do believe what goes around comes around. And in helping me, and with my getting good at it, I will return the favor to those, like myself, seeking help to learn a strategy that works.

Thanks,

Jbozman

Read through my thread, all that you ask for has been answered through out the year on this forum. Read it as a book, Use it as your guide, Learn from my mistakes and those who have posted there as well. The additional material can be found on this thread as well (reference to the books I’ve used). In addition to Rules that I have created for trading (see attachments on the thread).

On that note, remember this for it will save you a lot of money when you do reach my level of trading: Any one can become rich in a day, the wealthy man takes his time and is humble with his earnings… (hence, 30 pips a day…)

[Ogna]

hey TMB i was just wondering how closely do you follow your rules about trading times or fakeout times? also how exactly do you manage stops and decide on their size?

[Duchas]

lol TMB backs? And the contest? Did you read my analisys?

[TMoneyBags]

hey TMB i was just wondering how closely do you follow your rules about trading times or fakeout times? also how exactly do you manage stops and decide on their size?

As stated in the PDF Rules of the Trade, I use a visual stop (break of the convergence point). The break is dependent on the time frame the pattern had been found. Please refer to this PDF on the threads attachments for further answers in regard to my rules(which you should have since the day i posted it ogna :rolleyes: ).

[joe09]

As stated in the PDF Rules of the Trade, I use a visual stop (break of the convergence point). The break is dependent on the time frame the pattern had been found. Please refer to this PDF on the threads attachments for further answers in regard to my rules(which you should have since the day i posted it ogna :rolleyes: ).

good to see you post, was it a profitable year for you? Its been almost a year how much is your account at now?

[LUD]

what do you think? EJ

worked out pretty good !

[SwediChris]

Hello!

Found this on the Aud/Usd 4hrs, possible butterfly, also convergece around the upper trendline wich should mean a stronger resistance. Tell me what ya think

//Chris

[maestroshin119]

Hello!

Found this on the Aud/Usd 4hrs, possible butterfly, also convergece around the upper trendline wich should mean a stronger resistance. Tell me what ya think

//Chris

I’d say it’s pretty good. I normally don’t trade under higher timeframe, but I’m gonna see how long it takes for this pattern to complete and jump in accordingly. Thanks for the info!

[modo]

Chris,

I like this too. Am using D as a proit target. See my post #2782.

[Ogna]

As stated in the PDF Rules of the Trade, I use a visual stop (break of the convergence point). The break is dependent on the time frame the pattern had been found. Please refer to this PDF on the threads attachments for further answers in regard to my rules(which you should have since the day i posted it ogna :rolleyes: ).

Im suprised you still remember me !! haha i have been a ghost in this thread but i still check it like i checked it from day 1

and i do have the pdf saved i was just wondering if you changed anything.THanks!

Cheers