30 Pips A day Keeps the your money at bay

This is the nature of most of the threads. If founders cannot achieve their objectives they will left threads alone…

30 pips a day is really achievable. Maybe not every day, but with good system, its very realistic.

“Vi veri universum vivus vici.”

Their is sufficient information posted in the first 500 pages of this thread to pick up the trading strategy and begin to make money for your self; please do not assume that I am in active because I have not reached my objectives :cool: . On the contrary, I have moved to Vienna Austria with my family over these holidays so I can take full advantage of the markets and reach out to additional investors. Please note that for the past four years I have been trading the London - New York sessions and depriving my self from precious sleep to the point where I did not have a regular sleeping pattern which truly effects ones performance in the long run. Anyways, I logged on today to wish every one a happy New Years and to announce that now that I am finally back in Europe I will begin trading and logging my progress tomorrow January 14 2013. Again, thank you all who have continued to keep this thread active and I hope we can all progress together and be fruitful. Blessings to all and may this year be prosperous for everyone :slight_smile: .

2013 - The Golden Age :wink:

Good Work TMB, you are an inspiration! I completely suck at this system though! One of my issues is that i work full time, and live in Australia, so i’m relying on pre-set orders to get me into D’s most of the time, I think i have a 30% strike rate atm. It’s good to see you back here!

PS. I passed through Austria last year driving from Munich to Prague had to stop and get this photo…

Good Morning, I am currently in a short position towards a bullish Gartley developing at the extremes of CD on the 60/30 min and 15/5 min charts where the .382 of XA (X = 117.643) converges with 261% of CD (C = 120.051). This is a very important setup for the pair because we can take a good amount of profit on the reversal or break of the convergence zone. To clarify if the pair respects the convergence, price should move a minimum of 50-70 pips north and at its break, it will fall a min of 70 pips. Please note that if the convergence zone is broken, I expect price to move towards 118.00.

which pair is this?

It’s the EUR/JPY

oh duh… lol

Welcome back!

EJ = Eur/JPY

25 pips on the short towards C to D and 30 pips collected at the trigger of the Bullish gartley. Please note that if price where to retest the convergence point I will re-enter the bullish position and if the zone breaks significantly, we will most likely jump into the short.

Congrats to all the stayed disciplined and took advantage of the move :slight_smile: happy trading.

I missed it, I set my entry @ 0.382% mark, just out of interest TMB, why did you use the 2.618 as the entry and not the 0.382? Do you just set the entry at whichever appears first in the convergence? That’s one thing i’ve missed in your teachings

If you take closer look at the image with the bullish gartley, you will notice that I have a trend line crossing with 261% CD before hitting the .382. Because of this, I placed the order exactly on the 261% CD instead of in between the convergence or on top of the .382 itself as I would normally do. In addition If you where to use the curve of the MVA for X which lands at 117.940 instead of at the wick of price, you will note that the .382 converges exactly with the 261% CD.

I’m done trading for today… 55 pips is enough :slight_smile: I’m leaving to eat some sushi heh, please feel free to post any questions and I will respond when I return.

Well done TMB. Rookie Mistake… If i had have looked at your chart without having tunnel vision (in excitement to draw the pattern and trade it) i’d have noticed not only your convergence with the 20 MVA, but also your entry order!!! Silly me!

As for trend lines, I cant recall them being mentioned before, care to share? or point me to somewhere in the 700 odd pages i can find it for myself?

Thanks again!

PS. When i master this technique and travel europe again, I owe you drinks, lots of drinks!!!

First of all thank you TMoneyBags for a great thread. Thank you very much that you take your time to share your knowledge with us.

This is the kind of trading i want to adopt and use in my future trading. I bought the book “Trade what you see” that you recommended and i’m 75% through it. I’m working my way through this thread but still have many posts left to read. I just have two quick question. If you look at my screenshot above i’ve drawn the pattern from the same points as you. But i have a hard time to see any convergence between the 261% CD and 0.382 XA since the distance between them is 15 pips. Am i doing something wrong or is it because i use MetaTrader? My broker is markets.com btw.

In the book the author says that B has to be at least a 0.382 retracement of XA to be a valid gartley. Is that correct?

Sorry if these questions allready have been asked earlier. If they are answered earlier in this thread just tell me, i’ll read all posts and not ask anymore until i’ve read them all. :wink:

Edit: Ah, there i got the answer, right in front of me.

“In addition If you where to use the curve of the MVA for X which lands at 117.940 instead of at the wick of price, you will note that the .382 converges exactly with the 261% CD.”

How often do you use the MA instead of the wick of price?

@TMB
first of, what is the purple dotted line on your chart?

secondly, your approach to harmonics is quite different, from what i’ve seen on other forums and read in books.
do you have any sources which explains this in details or is it self-taught?

and if you see any patterns setting up, please post it, my self and many others would appreciate it greatly.
thanks.

I love the phrase a picture is worth a thousand words… but without clarification all those words simply become questions. As a result, I will illustrate and elaborate on what that purple trend line in today’s trade was and why I applied it to our harmonics technique.

First of all there are two very basic tools in trading that are generally overlooked but are extremely powerful when combined with other tools… TREND LINES & CANDLE STICK PATTERNS

*** The purple trendline from today’s trade is now YELLOW***


Here you will note that the trend line comes from plotting the crosses of the MVA on the 1 hour chart (EUR/JPY); the text in the image are instructions for drawing the line in your own chart. In effect instead of drawing from low to low or high to high, I’m drawing my trend line from the lowest cross to the highest cross of the MVA’s which now gives me an “average” of that legs movement (similar to placing a horizontal line on the base of price).


After a 440+ pip uptrend, price begins to finally consolidate and slow down after hitting the trend line.


The yellow ellipses illustrate how price respects the trend line even after breaking it. This tells me that it has strength and that any major candle stick pattern that develops on it or harmonic pattern which lands on it should be noted. The price action in the two small ellipses are proof of this since price then moved 130+ pips up after giving bullish signals.


This is where the bullish gartley develops on the extreme of 261%CD converging with the .382 of XA. The green ellipse shows you where the trend line crosses with the convergence and why I decided to leave my entry exactly on that point. As I have stated many times in previous posts, when a trend line crosses with a fib point (especially a convergence point with CD) price will move significantly from that point and it is the best way to “pin point” the correct convergence point for your trades. The red ellipse illustrates the break of the trend line and “disrespect” of the bearish gartley which has now caused the market to push towards the bearish side.

*Please not that the purple line on these images comes from an 8 hour MVA cross using the same concept and which is why you may note that price respects that line better then the one we have just analyzed.

Q). jeppe:

…your approach to harmonics is quite different, from what i’ve seen on other forums and read in books. do you have any sources which explains this in details or is it self-taught?..

A). Larry Pesavento is my mentors mentor lol… and the majority of my knowledge in trading has come from him drilling in my head the courses in the baby pips school, Larry’s “Trade What You See” book, “The Disciplined Trader” - Mark Douglas, and EXPERIENCE from trading real accounts and competing with other traders while in the learning process. In addition, I am the type of person that always wants to know the reason behind things and if I can make them better… which is why certain techniques that I use you will seldom, if at all see anywhere else.

Q). Diablo 1505:

How often do you use the MA instead of the wick of price?

A). In the early threads I’ve stated that you should check if the market you are trading respects fibs best from wick to wick or from base price to wick; while experimenting with the MVA’s I’ve noticed that the extreme curve of the 8 MVA turns out to be the base price of the candles on higher time frames.

Q). DJHenry 1981:

As for trend lines, I cant recall them being mentioned before, care to share? or point me to somewhere in the 700 odd pages i can find it for myself
?

A). If you would like to learn more apart from what I have stated above or simply review my previous posts on the subjects with ease (there should be many of them) simply use the advance search on this thread and look for all the posts created by me. Then press ctrl+f and search through the page for trendline or trend line.

Thank you for the detailed answer. Now it all makes perfectly sense. :slight_smile:

Very interesting. In all the material i’ve studied i haven’t seen anyone using trend in combination with MA crossings like you do. I like it and will explore it more, thanks once again.

To clarify. If i understand you right you use 8 MA and 20 MA?! Simple or exponential MA’s?

Looking forward to see your next trade setup! :35:

Thanks TMB, your post clears things up a bit.

Found a trade (I think)… thoughts, criticism, death threats?