lower TF 15 30 1H
Thanks for your comments. Yep it's always nice when a pair trend for a week and repeat almost the same move every day
I tend to look long term for profitability as I treat trading as a business and a business needs to show a profit at the end of each year but yes I am profitable on a monthly basis (some months better than others).
Your 150 pips a week is a very good start. Don't get disheartened when you hit a bad patch as it happens to everybody. Just stick with your chosen method that has worked in the past, be patient and stay focused. The last few weeks have been tricky due to the Brexit vote.
As for advice I would suggest sticking with major pairs, I trade EU, GU, UJ, UC, AU, EJ, NU and EA which gives plenty of good quality trades a week. Also don't be tempted to over trade. I have a rule of no more than 3 trades a day and no more than 5 trades running at any one time which forces me to only look at quality trades. Learn to see how price move between points and use those points and PA at possible entry and exits.
I've been trading the Synergy method rules, which eelfranz adapted into the TMS, for about 5 years and can say that it and TMS work providing you stick with the rules and learn the basics.
Hope this helps and post some charts and you'll get plenty of friendly and helpful comments from people.
Thanks for your advise.
Here is it:
Rest in peace Heather
I'm trying to download the templates & indicators, but keep getting an error message " windows cannot open this file ". does any-one know how to solve this
Another way is to search FF for these indicators, GL
I have decided to write a post here even though the great trader has left this great community.
I just want to thanks her for her effort in helping others and the way of her approach in forex has really helped me.
I have found my success in swing trading after studying many great traders in TMS especially lastingwell method.
As long as the trader is patience and strictly stick to the game plan, her method is profitable just like davit method.
Until now, i am still using her method in my 4hr and daily swing trade.
Once again, thank you lastingwell.
A year has gone by (May 2nd) so quickly since Heather (Lastingwell) passed away.
With her passing we lost one of the best traders, and certainly the best Trading Made Simple trader on the forum.
Heather was a good person who was honest and cared for others and helped others much more than just with her postings here, but her postings were clear and easy to read and implement, with no ego, gimmicks and no 'big fish in a small pond' syndrome.
I know from speaking to her daughter what a generous person she was, and that she will be, and is, greatly missed.
It was a privilege knowing, trading and working with you Heather...you are not forgotton.....RIP
I have given a lot of thought where to post my trades and with Realjumper's encouragementI have decided to post here. Lastingwell's (Heather's) posts have helped me a lot with trading and only when I ignore the lessons she taught do I lose, like this morning. Ignoring the H4 should not be done Obviously, a lot of others have helped, namely Realjumper, Likica and lots of others that just trade, without the bull****.
The reason I want to post here is because Heather's way of trading TMS to be the most successful of anything I have tried. I don't think there is anything I can add to Heather's original posts, but to just tell you I am trading this on a very small account to show how it can be built up and that you don't need to have $10,000 per currency pair!! as I read on FF this morning. That is ridiculous. Everything is relative, so if you have a small account and want to build it up, it can be done just trading smaller. If I can do it, anyone can. As I am in the UK I only have a maximum leverage allowed of 1:30 which is pretty small leverage, and it can still be done. Just a note on currency pairs. With fxpro I can really only trade their Forex majors because the minors have less leverage allowed. Not sure why, but all AUD pairs and NZD pairs are classed as minors even AUD/USD and NZD/USD so I won't be trading those.
I want to post here because we need to bring this thread back to life, so that hopefully it can help others to trade more simply.
Hi there lisat. I'm very happy to see you posting here in Heathers thread where the focus is upon trading without the ego and arrogance of many other threads on a similar theme. Absolutely a small account can grow into a very large account. A $10k / currency type account is fantasy island stuff for most people here at FF, and while that size account would of course be nice, it is meaningless in that if you're a bad trader you will lose, no matter the size of the account. Similarly, if you're a good trader who can stick to the rules of the system employed, you will prosper...it's that simple. Others can demo trade and talk like a hero and still others can state 'I shorted here at xxxx.xx', but it's all talk. As far as I'm aware, talk doesn't compound to a large account of real profits.
So you have my support and respect lisat, more power to you and I will help out wherever I can. I'm going to be away for a day or two as a family medical event has taken place at 4am this morning, and so I am at about 34 hours of no sleep.....which is not conducive to good trading! But I wish you and other participants here the very best of luck...leave any ego and arrogance at the door, and respect both Heather and lisat.
As soon as I think I can do without some of Lastingwell's things on my chart, I lose Never mind, it keeps teaching me lessons. If I put in a trade according to my rules and it loses I don't mind. I get disappointed with myself when I put in a trade and its not within the rules I've set, then its just plain silly. Still I'm sure we've all been there.
The 2 trades taken this morning are both in the rules, so we will see how they go. I am following behind the previous bearish candle so at least I shouldn't get caught out too much.
Today's trades. I am going to post all of my trades from now on, on this thread, to try to keep myself accountable to me. If I'm too embarrased to put the trade on here, then it probably shouldn't be traded....thats the theory anyway
I get distracted too easily by new indicators and systems etc so it will also help to keep me focused and rely on what I know works rather than thinking there is something better out there.
The Ecad was a pending order because I wanted to see it go through the support line I have.
You're quite right....we do all take silly trades from time to time. Some people won't admit it, but it's a fact none-the-less! For me, I try my best to not enter until all my criteria has been met in full. The thinking being that if I go with an entry that's close to meeting my criteria, but not quite perfect, then what's the point in setting entry criteria in the first place?!?! But even worse, if I DO enter outside my criteria AND the trade works out well, then I will be liable to break my own rules again. That's when the whole system comes unraveled and a string of losses occur. But, if I stick to my rules 100%, for sure some decent trades (that didn't meet my entry criteria) will pass me by, but I (now) smile and say to myself 'those pips weren't for me anyway, those pips belong to someone else.' If I wait for my criteria to be met 100%, there is a very high probability that the trade will work out for me.
So it's a matter of being patient and having the discipline to not enter until the entry criteria is met 100% Sometimes I may sit out a whole session or even a whole day....but so be it. By sitting out the session (or day) I lost nothing from my account!!
I don't think the temptation to enter out of frustration when the criteria is 'near enough' will ever go away entirely, but it does feel good to sit out a 'near enough' trade and then watch it crash and burn without taking any of my money!!
Finally, the way I trade is unique to me. I can watch others trade and check out their systems etc, But I'm not tempted to change what I do because what I do works....and if it isn't broken, don't fix it!!
I think you're on the right road and that you'll make the right decisions as long as you do what works for you. Never mind what anyone else says or does!1
© Forex Factory