30 Pips A day Keeps the your money at bay

actually i think i can.
if we are seeing the same one then…

m15, if i use the base of the candels for x i can see a gartley where the 50% XA converges with the 1.000 fib extension …, i’ve also got a 15 min msrt line slightly below the 50% XA fib

if i use the 8sma INSTEAD then the 1.000 fib level lines up with the 61.8 fib level instead
this one looked like it failed though?
it plunged down somewhat before now recovering and going up. had i of placed a stop loss i would have got stopped out, i am assuming you closed the trade with your visual stop loss as well.

Closed 75% of the lots for 25 pips on the EUR/JPY and left the remaining lots open. I’m waiting to see how price will react around the 127% CD on the leg that is developing withing the hourly chart. Our physical stop has been placed at break even.

:cool:

Nice Tmoney

Do you mind postimg pictures of the pattern pleaseee?.

Jusava

Just reversed position on yesterdays trade, booking 56 pips. Our short for the Eur/Jpy was entered 128.28 where the .662 converges with 113% CD. our physical stop is placed at 128.501 and our visual stop is an hourly close above 128.399

That was a great set up, and now you reversed it. It just doesn’t get better than that, nice TMoneyBags.

Thank you I appreciate that :).

Entered additional lots @ 128.212 after the hourly close, a 30 min candle break of 128.239 will signal a warning for indecision within the market and continue to flag.

Hey TMoneyBags,
Great info and sharing of your trading!

May I ask 2 questions?

  1. Do You Still recommend " Trade what you see "
  2. Do You do this for living?

Great inspiration.
And everyone, GL with your trading!

My physical stop was hit, losing 25 pips… I will be waiting for a bullish pattern to develop on the lower time frame before placing an entry. In the mean time, lets scan the other markets to see if any patterns are developing. :slight_smile:

Yes and Yes

Shorting the Euro Pound

Hi Tmoney,

What are these fibs youre mentioning?
Thanks

Jusava

Go back to 2014 using advanced search and you will find your answer ;). I will be hunting patterns soon, feel free to join me.

around page 1018 IIRC jusava

I am getting annoyed at gbp/jpy, i saw a 1 hour pattern yesterday with the 8sma as X and i wanted to take it but could not find any msrt’s to support it so i left it, and the pattern hit and worked out and moved 200+ pips from the D point. now it has come back up, and if you use that same 8sma as X there is a scott m carney classic gartley with a D point at the 78.6% XA [it meets the measurements] , also the pattern is visible using TMB’s methods too,

I would like to take this trade, but again cannot see any msrt zones to support it. so annoying…
price almost touched the D, but it now a little before, it may come back up and trigger the D …but i can’t find any msrt’s…

[B]edit:[/B] OMFG, i just spotted a huge H4 pattern on the AUD/USD, it had strong msrt’s and everything. i’ve entered late at 24 pips from the D point. it is unsure whether i will get my profits now, had i noticed this pattern earlier and entered optimally i would have had a much better stop loss and would be almost to me 1:2 RR right now. tbh, i would have gone 1:3 given the size of the pattern … instead i have to wait till it reaches near the 61.8% AD to get a 1:2

msrt are strong though and so hopefully they will help price out…
will pay good attention to the 8 hour/ 4 hour close later and decide if my target is realistic

but fuark…
i knew i shouldn’t have gone out

even if it works out fine i’ll still be unhappy because of the late entry.

don’t like the close. it closed above the msrt lines, but at the same time price closed below the gartley meaning that it is still valid.

i get the feeling price still might head up and stop me out, and even if the gartley does work …i am skeptical it will get to my TP

once again, i learn how potentially the market can punish you for late entry’s…
i need to control disicplin and not take them…

Hi Defiance,

Do you mind posting a picture of the pattern or your setup please.

Jusava

are you sure?

it ended up failing in the end lol :17:

those levels are imaginary lines placed on a fib tool/ or i claim so/ please provide back test information if u claim the opposite and re educate me please , because i need to be sure before fallowing your trading ‘‘strategy’’ and placing orders to the markets with my own money : ) thank you in advance…
/sincerely :The noob trader who wants to get rich fast/ lol

another think i wander is what the hell is this coming from’’ a pattern has 70% chance to reverse from a D point’’??
its in the book the Pasavento dude got published u say…but u got to be totally mad to place 2 fibs, got a convergence lvl and place a counter trend trade without a stop on the assumption that the market will respect the fibs based on ‘‘70% chance’’ strategy…srry guys but this is totally wicked and funny…at the same time it is sad in the way nobody here is making money trading the whole show…
so, this is what i say TMB:
dude, change the teaching tone /which is pretty funny knowing what i know/ and start working with the guys here who can teach YOU alot of things also and are active and digging in to patterns even more than you do…pick the most active ones and start live trading sessions, so you can get a actual working strategy together, with all the points i mentioned earlier addressed, then u guys do a massive backtest on several markets for several years back with the rules u placed…and then u can trade this method live and make some cash from the fools who are doing what you are doing now…all this will cost you several months of work…!!! its practically free !!!
tata…

hello again,
i am a clever man and did work out where the new fibs came from some time back, they are simply the midpoints between levels on the fib tool. eg: the new fib 55.9% is simply the midpoint between 50% and 61.8%

regarding the 70% rule that often gets quoted for the success of harmonic patterns in general, i personally have never got anywhere close to that

from october im only just able to keep head above water because i changed my strategy regarding these patterns, and have around a 40% win rate …but with my average R:R at 1:2 … i am just about kept afloat. I have tried R:R 1:1 and it was not working out for me, you need 6/10 winners to stay afloat and i was not getting that …

i have tried using visual stop before, but that didn’t work for me

and cash, i appreciate the help and i tried to take onboard what you said in your advice, but part of me doesn’t want to take your advice because i feel you’re not being entirely straight with us,

here you describe your strategy to us,
i am a clever man [no genius],
but something just didn’t seem right. your strategy looked far too simple. I know you are no noobie trader and you make money but if this is all you are doing it looks far too simple to be making you money. So i look at your chart and start thinking and thinking what ELSE is cashdemon doing that he is not mentioning. and i cannot figure it out. Some days later i think outside the box and manage to figure out something major you did here but were not telling us.

I am a clever man like i say, but also no genius and i cannot figure out all the other little things that you are not telling us

it is like you give us a treasure map but with half of the map torn off …and expect us to do well

TMB, atleast he gives us a map, with most of the peices still there

i think you want to help make people here into better traders, and thankyou for that, but you need to give us more.

To all my good trading friends here, i see that in many of the posts , money management is not mentioned. I think that this is a powerful tool to make you or break you as a successful trader down the road. There is no perfect system or strategy that will work all the time and that’s why with learning how to navigate good strategies with good money management skills are very powerful. I know this thread is about harmonics , but throwing in a sentence about money makes it more powerful yet.