30 Pips A day Keeps the your money at bay

Hi Jeppe,

Yeah i had the same problem this week. Every trade i entered from monday to wednesday just got killed. I think i had 90% loosers and 10% winners. Yesterday and today have been great though and i am recovering slowly.

I have a few trades still open which look pretty good at the moment. We will see how it ends. :slight_smile:


Hahaā€¦ my thoughts exactly!

I have problem of missing about 0 - 3 pips of my entry. Or it move about 20 pips then pull back and touch my break even point. So, each trade, I either dont get in or get in and earn just 0-3 pips. When I on the loser side, lose about 20-30 pips. lol

I was having that same issue Shonickā€¦ consider setting your stops above/below recent structure and donā€™t touch that stop. Almost every time I touch my stop I come to regret it.

I was very frustrated this week. kept not finding patterns ā€¦and the one or two i did see, there was always something wrong it with which made me not want to take the trade.

yesterday night and all of today I have been slacking off looking for patterns and doing other things with my life, and if all the good patterns have come today and yesterday like you said then i am a little annoyed with myself lol

The problem is it moves 20 or more pip in favor. So, moving stop to break even is kind of a must. And that cause stop out. I didnā€™t touch my stop lost until it reach at least 15 pip in my favor.

I donā€™t think itā€™s a must, in fact I think unless youā€™re trading multiple lots you shouldnā€™t move your stop until your first take profit has been hitā€¦ for me my TP1 is the .382 retracementā€¦ Iā€™ve convinced myself through backtesting that I wonā€™t move my stop until the 382 retracement has been hit.

Well, for some reason the patterns i chose in the beginning of the week didnā€™t work out. Many due to news events though. Iā€™ve just added a part to my trading plan that i will not take trades on pairs where news are about to come out when iā€™m in the middle of a trade.

But patterns are all over the place all the time. I see them on every time frame, often back to back. I traded 30 patterns this week but i could have easily traded 60 more. I try to choose the ones that have the highest probability of working out and have other indications for confirmation.

I think you just need to train your eye more to find those patterns. After a while you see too many patterns to the point you feel stressed because you want to be able to trade them all. :wink:

Just keep on practicing, they are everywhere.

Totally agree with you kurt. After trying to trade the way TMB does i found out i am not able to be profitable that way using physical stops and i think thats why TMB only has emergency stops in place and trades without other physical stops.

For trading with limit orders and physical stops and take profit points i found it to work out great having my stops above the x point, entering with two positions. Take profit at .382 and .618 level and moving my stops to break even when first take profit is hit. I would truly love to trade the way TMB does but at the moment i have to stick with this until i am a full time trader and have time to sit in front of the market during the trades.

And shonick, do not be afraid of big stops. Because when you have big stops you also have big profits. Always look for to enter trades that can give you at least a 1:1 risk reward ratio. If you have a stop loss of 100 pips do not enter the trade if your first take profit target is less than +100 pips as well, preferably better.

Iā€™ve written down every trade iā€™ve taken in march and in the end of the month i will show you a pretty interesting statistic about our lovely patterns. :slight_smile:

By the way. Today i finally installed windows 7 on my mac so now i have marketscope 2.0 running. Absolutely love it! :slight_smile:

Switching to FXCM from 1st of april too.

TMB, if you read this i have a questions. I am only missing one thing in marketscope and that is drawing triangles. I guess there is no tool for that or is there?

Hello allā€¦ I found this pattern at 1 hour eur jpy. My D is 124.11 how about that?


pipdiggers, Can you do screenshot on your computer? It should be better seen than photo.

[QUOTE=ā€œansztykā€][/QUOTE]

I cant use screen shoot on my laptop. I will share better image. How bout this?


I googled ā€œscreen shot lap topā€ and in some models you can hit crtl +. V to capture your screen then edit in your paint program

There is a ā€œprntscrnā€ (print screen) button on mineā€¦ Press that button when you have the screen you want to captureā€¦ Then open paint and hit ctrl+v to paste the image into paint

This is significantly better than your previous effort. Well done.

From where Iā€™m standing it looks fine. One thing though, the way your pattern is forming so far ( textbook B retracing to near bang on the 61st fib) suggests that it will be a gartley and NOT a bat. Your D is projected near the 88th fib which would make it a sorta bat. Now Iā€™m not saying your calculations for D is wrong, infact the way you have done it may likely be correct. But normally what will happen if B hits the 61st fib so perfectly (and then later when C has formed D is calculated to hit the 88th fib) is that although the D is projected to land just before the 88th fib, it will probably not go this far and likely hit the 78th fib and breech it upto a maximum of about half way to the 88th fib and then start going back down.

So bear this in mind.

where B forms will often give a major clue as to weather or not the final pattern will be a bat or gartley

:slight_smile:

I know you do it already, but if you have free time on your hands it is much appreciated if you post a few patterns, it doesnā€™t even matter if they are past patterns. As seeing completed patterns helps train peopleā€™s for spotting them, and you are one of the guys here who knows how to correctly draw patterns.

At the moment, I am not seeing/trading as much patterns as I would like ā€¦ but around 70% of the ones I do trade turn out successfully. If I can keep up this percentage figure for a few months, then I will simply increase my risk on each trade to 2-3% and that will make a good profit each month.

I would still like to be able to spot more patterns though. The back to back patterns you posted on a NZD pair a week or two ago i thought was quite impressive and in the few days after that I was spotting lots of patterns on that pair often one after the other.

hi everyone. i recently started looking at harmonics and found this thread. seems very useful and i like that you guys share trade ideas. anyways, it seems that iā€™m a little late to the party with this thread reaching page 841 with this post. is there a condensed source with links to the most important posts in this thread anywhere? like what patterns TMB trades, saw something about mrtb lines or something like that, where is that explained? what about typical SL and TP for the trades? just the basics to understand TMBā€™s method of trading. any help is very much appreciated.

cheers

For the love of pixels and time, CRTL + PRNT SCRN. Then go to paint and paste it there. Save image. Load. Voila.

TMB methods seemed to have evolved since starting this thread. He now uses these MSRT? lines in his trading. Some people here use them too, some are going with the more traditional methods.

If you are going with the more traditional methods then the first 70 pages should give you all the info you need. It may be cumbersome to go through the pages ā€¦but there really is alot of info on so much of the pages that to try and narrow it down to one or two i would be doing you a disservice. Also buy the book Trade What You See ā€¦that TMB recommends and check out the vid TMB made on youtube.

as for SL/TP ā€¦ I think TMB uses a visual SL.
I do not think many other people here can pull that off the way he does. Personally I use a predetermined SL and wont enter a trade unless the RR ratio is atleast 1:2 but thats me. Others here have different ways on how they manage their trades.

If you are wanting the new methods that TMB uses, Iā€™m not sure what pages ā€¦
I know he says he was planning on making a vid on it soon though