Congratulations, Braindamage! TMB uses 78.6 scale as well as others which your chart is missing. If you used the same fib we would get the same convergence of D. At 78.6XA is the best convergence (1.3 pips). If you use 88.6 XA/127.2%CD, the convergence would be slightly wider (4.8 pips) and it would just miss the entry point.:5:
Long EUR/GBP @82.81 (10SL, 30TP) (Reason: Itās hitting a .618 retracement)
[B]Update:[/B] I got stop out. But may continue to take the trade at this weekās openā¦
Stupip, it was very risky just based on a fib retracement. TMB rule no. 1 you dont have to be always in a trade. There was not valid bullish gartley in this chart. Beside, a doji was not confirmed to be a reverse point as the next bar was continuing the down trend. Hope you are luck but remember if you want staying in trading relying on luck is not enough. 
Hey I would like an invite . Thanks 
Thanksā¦it is risky, since iām only getting 2:1, and need a 37% probability to break evenā¦just trying different variables to this methodā¦
Is this method doing well for you? How has the month gone so far?
Just break even.:5:
I came across the pattern recognition just a month ago from babypips summerschool courses and then about a week later when I wanted further information I luckily saw this thread because it was at the first page of the forex town and have more than 500 pages of posts.
I only started to recognize the patterns two weeks ago and started a demo account. However I have taken my demo account seriously as it has been a real account and has been trying to have the same mind as trading a real account.
I started forex learning about six month ago with demo account for a month, then switched to a real account, believing demo account was not the same psychologically and believing I have learned the basics of forex trading :D. With in two crazy months I lost almost all my invest (7500 pounds) without much knowledge of experience. I traded what I believed, not what I saw and was burned badly when the euro went up madly. So I has been able to adjust my mind and feel the pressure when I took demo account as real account.
After that, I adjusted myself and re-started from the basics. When I saw this thread I was so impressed with TMB method. his success AND his loss made me believe that this is a real method. So I started to follow and started with beginners questions :5:. Amazingly I posted 100 post last night and became a junior member. What an achievement!
Back to the account. I have analysed the two weeks trading. I should have won but because I did not exactly following the rule some times and got caught a couple of times. Also it seems I need more experience to feel the market movement.
It is early days so I am keen to carry on. Hope we beginners can improve together.
How do you calculated your 37% chance? It would be very interesting to know.
Itās just bankroll managment formula to figure out how much to risk per trade, depending on the risk reward ratio and the probability it will workā¦
In my case, I need 37% (actually less) to break even on this kinda of trade long termā¦
Itās called the Kelly Criterion, which is generally used for gambling, but many on wall street and even Warren Buffet uses this principleā¦A Kelly Strategy Calculator
Also, breaking about even is goodā¦better than 80% of tradersā¦itās a good foundationā¦
Here are a few links to calculate your risks, position size, profit and loss:
A Kelly Strategy Calculator
Forex Position Size Calculator
Forex Risk Calculator
Sanjoz, where have you been?
OMG i forgot 0.786, thanks newbabypipsfx,wow nice story bro i think sometimes we need go down for grow up.
What do you think a novice trader needs to migrate to a real account?
Thanks. What percentage you used as the āoddā in 61.8 fib retracement? 70% or 60%?
I did not have much experience as I am a novice myself. But from what I have learned and my failed experience I feel first I will always trade my demo account seriously as it is a real account and get ready psycologically. Secondly, I will have my own trading plan (luckily we have TMB trading plan as a base) that suit my style and I am able to stick to it. Then I need to have positive balance consistantly. I am planning that I will go to live when I have consecutive positve balance each week for four weeks.
Do you ever go to the chat room? Iām sometimes there after 8pm PST for an hourā¦
Also, a super setup for NZD/USD is still onā¦I missed the first entry while in another trade, and itās moved 50 pips downā¦111 pips at its max, but still alot of room left to make ALOT of pipsā¦
First gartley today. USD/CAD 1H. not perfect retracement, both AB and CD retraced near 50. pending long 1.01898. Gap is a caution.
Hi babypips, when I found this pattern on USD/CAD,but it was too late for me.I got a Bearish gartley Usd/Chf.
Today we got bank holiday on USD, i think its not a good day for trade.
My entry was serveral pips away so I was not able to get in before it was up. Now I cannot log-in to my broker for an hour so I cannot even check other patterns.
What the time frame of your chart? It looks a bit different from my USD/CAD 1H. Yours does not looks like a USD/CAD for me. But I cannot check it now.
Here are other two potential entries but missed pips away before my system had problems.
EUR/USD 30 m. Trend resumed before reach my target.
EUR/CAD. I hoped to get an entry at the double bottom but it was up when I snapshoted the chart. I dont know if it came down or not at the moment as I cannot check.
not a good morning for me. Hope I can get in the system in the afternoon.
The chart i made before is from Usd/Chf m30. Below i will show to you how usd/cad 1H going.
This is the X that you used right?
Thanks braindamage. That was the X I used. However I used the 78.6 XA fib as the entry point (1.01898), so I missed the entry. Even my 100% CD was not triggered (1.01900), but yours looks differently. did you used the ask or bid price here?