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Trading Made Simple

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about EU 4h tf.. now we must care... price hitted support line.. so it can bounce.. im in.. and took 30pip profit. i dont want to risk.. :]
I am in short the eur/gbp H1 @ .8561 and naturally it has stayed at a slight minus since 06:32 CT. Just one micro though so I won't get burned if it doesn't turn around. p.

edit: in hindsight I should have used a sell stop order at .8555, just below some one hour support fractals.
Quoting amiralifx
sell eu h4

Attachment 830818
sl= 0
Quoting amiralifx
sl= 0
sl=+37
Closed half of the position at +96 pips, the rest set to BE and trailing stop of 15 pips.
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Quoting amiralifx
sell eu h4

Attachment 830818

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+70
`My 1st day of real money trading resulted in minus $8.00; I can live with that for now but I won't for long. None of the 3 prs had any volitility at all, just sat there. eub/gbp, usd/jpy, & usd/cad. Someone mentioned using stop style orders to make sure a pair goes in a certain direction and I am adding that to the arsenal so I can end trades in the positive.
Quoting amiralifx
Attachment 831204

+70
I was on that trade, but my Stop Loss was 35 and I was SL out with little profit. Good job.
Quoting piprac
`My 1st day of real money trading resulted in minus $8.00; I can live with that for now but I won't for long. .
Hey Piprac, lets rather talk pips, or %, as we are not all trading with the same capital base on our LIVE accounts. $8 for someone trading full lots - ie $10 a pip is not much, but for someone trading micro lots of $0.10 a pip, its 80 pips or so.

For the record, I also had a tough week last week, minus 92 pips (-4,3%), but have put in a good showing so far this week Plus 73 pips... I am up 244 pips for the month, 9,3% which beats the bank by some margin....lol
"It always seems impossible until it is done" Nelson Mandela
Quoting Britpip7
Anyone have any thoughts / opinions on this topic?

Consider the possibility that you have been trading TMS successfully for several months and that you have been achieving a consistent monthly trading accuracy of over 70%.

Your pips win to loss ratio is 3 to 1

At what point would you consider risking a higher amount (% of your account balance) in your trading?

a) Never

b) May consider the occassional trade to test the theory for a really good entry position

c) Full steam ahead - rewrite the MM plan and go for it
Howdy mate
Ok here is a good way to do it if you are concerned about how......lets say you start off with a $10,000. SO with that I will risk 1 full lot on a trade....I dont go on percentages I go an monetry value....once my account hits 15,000 I am then happy to risk 1.5 lots and so on...if I get a few trades in a row wrong and my balance decreases below that 5 grand threshold step, I decrease my lot size until I recover....as in if it goes back under 15grand I go back to 1 lot. I couldnt care less about % figures.
THis for me is stress free and you become casually accustomed to the larger amounts you trade. IT also give you a fixed target to aim for and also a fixed figure with which to decrease risk during a bad run for recovery.
That my way anyway.
Posted my first live trade last night and took 51 pips on the aud/usd sell. Currently in this trade on the 1hr chart. Just getting my feet wet here. So far I like this system.
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Looks like a possible long?
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Quoting FXSurf
Looks like a possible long?
I am keeping out of this one as we are in a big downtrend right now.

Graham
has been ranging for the past 4 to 5 hours. im using 15min chart and 1 hr chart.

TMS method is hard to trade choppy markets. Add in ur own indicators to protect urself as much as possible.
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Quoting firsttimer
has been ranging for the past 4 to 5 hours. im using 15min chart and 1 hr chart.

TMS method is hard to trade choppy markets. Add in ur own indicators to protect urself as much as possible.
Hello Firsttimer, can you indicate what indicators you use?
Thanks

vcary
Right you are. Too strong of a downtrend to support the long. Lost -30.
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And that's one hell of an ugly morning on the 15m...
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Quoting vcary
Hello Firsttimer, can you indicate what indicators you use?
Thanks

vcary
trendlines aka chart patterns are my best friends.
"TMS method is hard to trade choppy markets."

in choppy trade we can too earn pips.. (i trade 4h tf)
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NaNo29