30 Pips A day Keeps the your money at bay

Trading Discussion
10832

hello,…good points u got there defiance dude…will address all, few in details…the rest is not for public discussions.
u seem clever, but what i see as better quality than clever is that u r a working horse/the amount of time and effort u invest here searching for clues/ good one…
i was like this when i started trading patterns 6 years ago
This is where my frustration/not a big one, just a lil one lol/ is coming from…this topic does not move, but time flies, and the teacher seem to disappear for a year or two with all the promises with him…
I dont judge, just think out loud now, ye? : )

Many guys with potential and time and energy passed tru here and left because of lack of development and all…lots of guys are doing the same now and will pass also…this thing needs to move in the direction of making money or desolve…its 6 years old for faks sake…
There are fund firms that are younger and make money and they are ran by people not smarter than you all here, BUT they are ran with robotic consistency, not whit meditation …
TMB weak from chilling out and get to work man!!! otherwise you will keep explaining what is XA leg and what is CD leg for another 6 years…damn lol

Defiance dude, i got close to your win ratio in my top trading patterns times, but never got over on yearly basis and i changed style pretty fast after seeing more minus coming my way after backtests of the current/not full/ rules.

visual stops dont work! fact!

what the hell is a stop??
u place a stop where price wont reach before reversing a trend/any traded time frame/
and u place a stop where a price will reach 1st after reversing a trend/ so u dont loose more money/if price goes against u

Visual stop waiting for a candle to close has nothing to do with Money Management and usually is an excuse for weak or bad discipline…any TF…

Intellectuals are pretty big fall on the markets- fact!

As u see im not promoting my trading method here and im far from doing it, im criticizing mostly because i want to see faster pace here…and ppl making money …

This show is 2 slow for now and not producing results …i like action and work…and TMB is a friend and i want to kick him behind and move him a bit by doing so…

U dont need to be a genius and making money trading, quite the opposite…
u need drive and philosophy that says: ‘’’‘i take’’’=small targets’ and ‘’’‘i dont give back’’’’=small stops + edge over these two, to drive it

take profit often=small reasonable targets 10-15-20 pips for M5, M15 is doable few times a day
small stops= know when to get out without blowing 30% acc size on a deal u got stuck for 2 weeks

I wont show the little things i do, yes…not yet,or maybe never
But this is 90% of the things i do when i trade: still i share, ye?

I trade in the volatile times- Frankfurt open to NY +3 hours in session

Trade the majors and just few of the crosses…think about where the most money are traded on forex, for sure it is not gbp/chf or nzd/jpy…theese are small markets often used as carry and are good for trading not more than 2-3 months per year
/my opinion of course/

Got backtests on the markets i trade and the setups i look for ,so i got a proven edge./for now lol/things change fast in da field/

Got a understanding of trend direction changes and i wait for my trades.

Im fine trading lower time frames and usually make money on M5 M15 tf, but i trade H4 setups also…
М5=small stop= big acc exposure more times a day…ect…im a day trader.
Move my stop at +1 after every 1st target hit and i add if im with the trend after cashing out 1st profit
something like this: break, enter, profit, stop at + ,pullback ,reenter …ect
M1 TF is everything

i NEVER trade in a range …but i trade the range breaks

To know what a range is u need to know how to read tops and bottoms and trend /leg structures… wont talk about it

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G/J Thursday M15 ,session time: +62, +142+219 pips , and stop is big, yes… MM is here to be used
entry after trend line break and higher low established…clear break up sig for alot of big money and i fallow…here i was right
Friday =no entry ,trend is up and i want to get with the 1st big money down, but it did not happened , price stayed in up trend, no trades here today :::dont chase it…other markets did good today::::all this is in baby pips school as free info

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another pic i add with zoomed M5 break and entry info…red area is opposite resistance and i want to be out with most of my lost before this lvl gets approached by price, because i dont buy the 70% chance rule or any rule of same sort…im out before the lvl because i cant read the minds to those who drive this market…could be a double top and price drops 300 pips in 1 hour…this cross is doing this all the time…nothing dumber than u being in a good profit and u let minus stop to get hit after that…this is not managing your trades and its not trading at all

STOPS at + after 1st big exposure and target 1, then smaller adds and trailing stops…if u know price action and MM and u trade with the trend u r ok as long ur edge is + after backtest…whatever da strategy

Take profit before supp/res lvls and let your edge win over…u just execute

Move stops at + 1 after taking partial profit and stay with current trend

…u need several pips a day over a year to get an edge…but it needs discipline =…hard
now it is a matter of markets to trade with some profit cashed and stop at positive…never at 0.
…taking +1 stop after partial profit u still pay yourself 1 point per stop hit…

Now calculate the stops hit +1 pip/ No risk here/ for the whole trading year…!!!

I usually get 600 to 1000 pips a year out of +1 stops hit , which are usually half my positions getting stopped after cutting and moving the stop at +
Im a dumb ass and i got stopped half the time and more…markets, what can u do lol

But when a dumb ass is sitting behind multi mill $ acc, he is happy doing 1000+ pips a year out of his stops, cos hes trading 600 to 2000 lot positions…and can feed 1000 homeless poor ass madafakas every day for free, with stop money only

not there yet baby but soon…:slight_smile:
i wish it to all hard workers here…
need a drink

friday it is

, just realised u cant see **** on this pic sharing…

cheers all

this thing takes 2 much of a time and i dislike the way it edits …

10833

wow, you write more than me lol :35:

…well here i go:

Regarding your critisims of thread, i do see your point
but at the same time i do not feel it would be right for me to complain because TMB is doing all this out of his own free time and also for FREE

imagine a begger on the street starting to complain that a passerby gave him a sandwhich …when he really wished for a steak

the passerby is not obligated to give him anything. is he?

so people are grateful for this thread.
At the same time, whilst i appreciate this thread i will offer some [U]constructive[/U] critism of the thread from a learner who has been here a long time.

  • several videos were promissed but never posted. A symmetry video, A msrt video come to mind. There might have been a few other things that i forgot.

My understanding of what exactly is a symetrical market is …is still somewhat incomplete. It would be good to see several examples of TMB analysing a market for symmetry pre - trading. Myself [and you] are only getting win rates of around 40%, possibly we do not know how to properly access a market for symmetry. I think some video’s would greatly help

*sometimes questions are posted in this thread towards TMB and they are not answered. If the question has been asked and asnwered before then personally i think it should not need to be reanswered by TMB and a simple “re- read the thread” or something similar should suffice and it is upto the learner to go back and do his homework. However, when A question is asked, and is not answered (and it hasn’t been asked before) … the learner now has an obstacle in the path of further progression. In order to prgress he must either come by the answer himself, or find a work - around. Both are very difficult.

in the last half of 2014 i asked a question and it wasn’t answered. It took me about a year before i found a work around and was subsequently able to improve my trading. Most people would have just given up tbh.

I asked a question before on scalping too. I know that a close past the fib point [and it’s msrt support] is a signal that the pattern has failed that the a scalp can now be taken to the next fib point …but my question where to put the stop [or visual stop] and what sign to look for to take profits were not answered. As a result i have been unable to scalp profitably and all too often end up getting cut up by price as it will sometimes whipsaw up and down near the failed D point. Subsequently scalping has had to be cut out of my trading plan.

*regarding the new fibs, no clear instructions were given on SL levels. It appeared now that tmb was using physical stops instead of visual. When i asked where exactly the stops must be placed for trading with these new fibs i didn’t get an answer.

I could go on. but the further i go on the more it looks like a complaint, when really it is just some constructive critisism should he wish increase the learning potential to those in this thread. at the end of the day he’s not obligated to give us anything.

As for your trading advice cash about not trading counter trend and going with the trend, i have tried learning other methods of trading in the past like that but could never make myself profitable or really come that close. One problem I find with forex and these websites is that a lot of people don’t really know how to trade and will open threads “teaching” people to trade when really over the long term they are not making any profits with their method. If you learn from these people you will end up the same way too. It becomes a major challange just to find someone who is competant/qualified enough to actually teach. Most people do not put up a myfxbook. Most people when asked about how profitable their system is percentage wise will try and dodge the question by saying something like “yeah good profits, it depends on the person, everybody is differant”. That tells me absolutely nothing, and the fact they won’t even verbally give you monthly figure makes me highly suspicous.

A screenshot is better than nothing but a screenshot can be cherry picked or edited in photoshop.

Truely it is a mission and a half to find someone who is actually proven to be profitable.

The only reason i stuck with this thread so long because it is one of the few threads out there where a myfxbook was actually posted. Had i not seen one, probably i would be gone.

I had been looking a few trend following threads at forex facory. I was failing at them. The author is claiming profitability [as they always do] but i have not seen any real proofs. i get frustrated and not being profitable and give up after a while. If you can point me to some proven trend following methods then i would take a real shot at them.

regarding backtesting i do not like it. I have seen some guys backtest thier methods or claim there EA will make them 50 million dollars because the backtest tells them so, and then when they go to try it out in real time thier equity just slowly plummets. I still remember the guy on here who made a topic claiming his EA will make him 50 million and his EA turned out to be a total flop

and often indicators tend to repaint in real time. it can look like they’ve crossed, but then a few bars later it turns out they havent.

you’ve got to take into considerations news events as well. if you are backtesting for a year you are not going to have all the news release times with you, and as you know news release can make a big differance to price. you might think you would have won 50 pips, when in reality you wouldn’t because you would have seen a bank release coming out and made sure not to trade.

i have been trying to learn some gann and astrology recently, but maybe you will not like that as that is sorta counter trading too. very hard to find anyone competant in gann to teach it. there are such a lot of incompetant people out there. look on marketscope for example. we have a gann fan. but i know that the gann fan is USELESS becuase marketscope cannot scale price with time. If you use a gann fan and see price bouncing on it then they bounces are just random because the chart is not scaled properly. fxcm/marketscope developers are clearly very incompetant when it comes to gann. meta trader has gann tools which are utterly USELESS too because it cannot scale price with time. you see with such incompetance out there it is very hard to find places that can actually teach you to make money.

10834

Hi Defiance888,

I appreciate your comments regarding Marketscope. We’re always looking for ways to improve the platform. You mentioned that you cannot scale price with time. I’ve never used Gann analysis myself, but I’ll share your feedback with our Trading Station developers. :57:

If you have any other questions or suggestions regarding FXCM platforms, please feel free to reach out to me in the Broker Aid Station.

Thanks,
Jason

10835

Interesting discussion and I have acquired a copy of the book Trade what you see. So far it’s been difficult establishing the correct patterns, but i understand how to draw them at least. Thanks for the extensive information made available to us TMoneyBags

10836

Booked 30 pips on the EUR/JPY Long b4 the news release, Re-entred long positions at the trigger of 15 minute pattern (100% CD) @ 128.803. Physical Stop placed at 128.62

10837

I’m looking to see how price reacts from the 129.454-129.335 Range. Depending on price development… we may short with a tight stop around the butterfly/gartley here.

Please note that an hourly close above 129.335 will push our long target towards 131.253 range.

10838

Booked 80% of our profit @ 129.059 and moved our stop to a positive +1. In addition, I will be re-entering long position as price pulls back and “declares” support on the 1 min. I will explain my logic on this later on throughout feb.

10839

Please note that im currently away from my desk and am posting from my phone.

Just reversed positions on the Eur/Jpy after adding additional lots to the long and scalping 30 pips in the process. As explained.:

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*An hourly close above the orange horizontal line is our visual stop, our physical stop is placed 20 pips above the entry. Our target will be towards the .236 of the current leg. Reaction from this zone will determine our direction.

10840

Great Post TMB, way to scalp the market. I have some Developing patterns I will post about later on.

10841

Our Physical stop was hit, and I waited for the pull back to re-enter the long. Our current entry is at 129.289, with a physical stop at 129.139, once price moves above 12.477 we will place our stop at a positive +1.

Final trade for today an double the lots in comparison to the previous entry placed (I used 50% lvg when i countered)

10842

Hourly confirmed the long continuation, our stop has been moved up towards 129.237 (5 pips from entry)

10843

Stop has been triggered, Done for today… will hunt some patterns tomorrow :). Enjoy

10844

Welcome back, TMB.
Was waiting for your return and look forward to hunt and learn.
Happy Pips …
Nemo

10845

Just entered the EUR/GBP Long at .75973 with a physical stop placed at .75796, a 30 min close bellow .7595 is our visual stop.

Will post the Gartley shortly.

10846

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Above we have a Gartley that formed on the .559 of XA converging with 127% CD on the 30 min chart. Initially price touched the convergence point an bounced for 4 pips as shown by the green ellipse. Our current entry is based on a retest of the convergence zone highlighted by the yellow rectangle where pice has now touched the 200 MVA and respected the zone. As a result, we have good confirmation that the Eur/Gbp will continue its long trend. as we speak im going to scalp 22 pips and let 50% of the lots run with a positive stop. Enjoy.

10847

Booked 23 pips on the remaining lots… Resting 'till mid tokyo session.

10848

Hi, glad to see your trade worked

Did you place the trade AFTER the respect of the 200 ma?

10849

On the third test

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Made a nice bonus on the EJ :slight_smile: luv tokyo jeje.

Will be posting in depth analysis on various markets tomorrow.

10851

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The is a perfect pattern on why 30 Pips a day keeps your money at bay.

Bearish Gartley Pattern completing at 1.09062 the .618% Fibonacci level converging with the 2.618% ABCD extension. Target one for this pattern is 1.08777 Just above .382% Fibonacci level from the AD swing. Failure of this pattern is a closed 30 min candle above the .618% Fibonacci level from the XA swing.