Making Money Trading

[trader_dante]

its come right back down to a line ive had on the chart for about 2 months.

Me too! The beauty of levels...

 

[jonj]

just wondered did you pull the trigger

got lucky with the news eh! you have to realize its holidays here in holland so im at my girlfriends not takin today v, serious.i didnt even look out for thenon farms!!
(it would be nice if we could though)

 

[jonj]

Indeed, that minor bit of news had me in by 1pip and out for a loss on the usdjpy.
same hapened to me with some orders i had!!!
Aussie up a smidgin at present. got out with a few pips

Did you get that 1hr gbpusd jonj ? looks good if you did ! its come right back down to a line ive had on the chart for about 2 months.

yeah but had to go out so closed about a million piops early!!

 

[jonj]

Me too! The beauty of levels...

cannot understand for the life in me why my chart DIDNT have it on.we were only reminded of it yesterday!!!!

 

[1Pipped]

got out with a few pips

Same here, break even really. The two new bars didnt look very promising for a long.

 

[rollsafe]

Whatever is true is true for you !

 

[trader_dante]

Whatever is true is true for you !

Win or lose, everybody gets what they want out of the market.

 

[rollsafe]

Taxes and Trading

Some of us are looking forward to leaving our Spread Betting Account and Trade with a Futures Broker...then we think...What about Taxes..

The Sunday Times Super Rich do not pay any taxes !

They consult with a firm that hadles tax matters for them. The name of the firm is ocra and it is run by a member of The House of Lords..

Executive Team

Thanks

 

[trader_dante]

Market phases

It is important when position trading strongly trending markets to know what market phase you are in.

Study this chart carefully and compare it to the great bull markets of history.

 

[mp6140]

It is important when position trading strongly trending markets to know what market phase you are in.

Study this chart carefully and compare it to the great bull markets of history.

==========================================================

hmmmmmmm -- bull market is it ?

strange, but resembles saturday night with the McGivers !

see --- i told you trading is not war . . . . . . . its actually more like sex !

enjoy

mp

 

[superspurs]

gold

my latest project,pin snout not great,but in the right place.entry was took because of pin on hrly chart

 

[trader_dante]

my latest project,pin snout not great,but in the right place.entry was took because of pin on hrly chart

Excellent pivot but which pin on the hourly chart are you referring too?

 

[superspurs]

the long tail that touched down on level 845,when i saw price rejected it,i entered on next candle.

 

[superspurs]

whats your take on the eur/chf.on the gold chart,i dont think i explained myself,ive said before on this thread it is not only about pinbars but pa and when price came away from the pivot,with proper money management,surely the ideal entry would be as close to the pivot as possible.i know you say about waiting for the pin to trigger,but when the pin is large,even yourself will resort to looking for an entry on a lower tf.so it has become more of where to look for pa
ah well,i took the plunge (good pinbar)

 

[black bear]

cherry pick

I want to show you how to make money trading the markets. Naturally, it is not the only way to make money it is merely one way of doing so.

If you follow what I will teach you, try the methodology out on demo first before committing real money in a live account, gain confidence and understanding in the setups and you are patient and disciplined, you will make good money with this method.

The method I am going to show you is based on price action. It uses the price, fibonacci levels, three moving averages, the concepts of support and resistance and trend lines. From time to time it uses an indicator. It is not complicated to follow but it will take you time and effort to learn how to trade it for consistent profit.

We will take things very slowly because I want to make sure that everyone fully understands the concepts as we go along. Having said that, I expect those reading this to have at least a basic knowledge of the elements I have listed above. If you do not, go away and read up on them. You will find a huge amount of free information on them.

The method I will show you is not a system with a rigid set of entry and exit rules. It is not going to tell you that when X happens, do Y. It is a method of trading based on high probability setups.

It can be applied on any timeframe but I use it to make money on the hourly and daily timeframe because this is what I am comfortable with. Therefore these are the only timeframes we will work with here.

I work full time but I have access to my broker at work so I can check the charts every hour for setups. If you are not in a position to do this, then you will need to concentrate on the daily timeframe. Both timeframes work very well.

I want to concentrate on one market. The methods work across every market but I think it will confuse people if many traders are asking questions of different setups in different markets. Also, many traders don't have access to some markets or the margin requirements to trade them are too high. As a result I am going to post a poll and over the process of a few weeks we will eliminate which market we are going to trade going forward.

While the market is being decided, are there any questions?

Tom

Great post and thread Tom,

Sorry for any confusion earlier it was in no way an attack on you, method or thread td that made great demands on you and your time.

I would have liked you to concentrate on one or two markets td and list all trade setups but except that to much was going on an a daily basis to make that a practical option.

latter you old cherry picker

 

[trader_dante]

I would have liked you to concentrate on one or two markets td and list all trade setups...

YOU AND MY PROP FIRM BOTH.

 

[zishor]

Heya all

First of all: Thank you T_D for this thread!

I must admit that I am not through the total tutorial (only page 31) but I think I have the very basics. I won't ask silly questions till I am through so don't worry.

Just wanted to ask if there is a good setup at the moment on the AUDUSD: The last hour seems to be a nice pinbar. We have confluence with the 61,8% fib from the last high and the pivot level at 0,944.

Stop would be 0,9429 (red line) entry at 0,9454 (light blue line).

Now my worries: I usually look for a minimum of 2 risk / reward in each trade. The first bigger overhead resistane is at 0,9475 which is about 1 R. The next one is the longer term 0,954 (which I am not sure if this is an alltimehigh). I don't dare aiming for the 0,954 level ... so my question: would you have taken this trade?


Best regards and keep this nice work on! Moving on to page 32

 

[zishor]

Little update: Took this trade on paper. Almost 0,5 R profit at the moment. Trailing Stop below the "breakout" candle.

Damn this pin bar trading works excellent. Need to "reread" the chapters of greed ^^

 

[zishor]

Last post before I quit spamming: One thing I was not that comfortable with was the exit. My plan now is to sell half of the position at my 1 R level, trail stop to entry level and let the rest do what market wants to do with it.

 

[MrGecko]

zishor, check out the R:R_Determination intro I wrote a few weeks ago; the bit of most relevance here is that it isn't always the most efficient exit strategy to "take 1/2 profits and move stop to BE".

http://www.trade2win.com/boards/first-steps/30825-mrgecko-s-briefcase.html