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TMS for M30 charts

  • Post #9,361
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  • Edited Oct 23, 2015 12:03am Oct 22, 2015 11:41pm | Edited Oct 23, 2015 12:03am
Quoting birdnest
Just a really random question, how long do you guys take to be recover your losses and on a profitable track? I am on the 3rd year but still not much improvement. I feel demoralized.
Hi Bird
Just about everyone goes through this stage.Important factor is consciously be aware what does not work for you.
Be diligent working on yourself.Major factor of all retail trader's losses occur inability to take small losses then those mushrooming to become account killing losses..
This is mainly due to ego overriding the market.Your Ego does not want to admit being wrong hence the losses.
Its funny because we are in essence none linear market that anything, anytime can happen therefore your ego should be least important.
This is more true when you ride a motorcycle on the streets which I do daily.Cars trucks all capable of killing you hence riding defensively is most important.I look at the drivers eyes not the cars to make sure they see me before I make a turn...
Trading is same we are insignificant as far as moving the price therefore trading defensively requires understanding system rules and your personality how you fit in it.Not every system is suitable for you.You must decide if you are a swing trader,scalper or position trader.Each of these requires certain understanding what constitutes PA
For a scalper -10pip DD is huge but for a position trader its nothing at all.So before I can answer to your question you must analyze to yourself what kind of trader you are.Be honest to yourself and don't beat yourself.My number #1 rule to myself is forgiveness.Forgive yourself for the mistakes,cleanse your mind and attack the challenges head on.
Read this book.This will open your mind.

regards
below small sample of the book I uploaded.You take what you can.Book is brilliant
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Attached File(s)
File Type: pdf Davit's Philosophy.pdf   484 KB | 642 downloads
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} Hi Bird Just about everyone goes through this stage.Important factor is consciously be aware what does not work for you. Be diligent working on yourself.Major factor of all retail trader's losses occur inability to take small losses then those mushrooming to become account killing losses.. This is mainly due to ego overriding the market.Your Ego does not want to admit being wrong hence the losses. Its funny because we are in essence none linear market that anything, anytime can happen therefore your ego should be least important. This is...
Hi Davit,

Thanks for your prompt response. I am a position trader because I have a day job and can only analyse charts at specific times. I have been profitable sometimes but not all. Overall, I made a loss of 30% in my account and started on a small trading account again but still losing. I am not afraid to admit this, because I am trying to overcome every single ego and pride I had to want to make this work. It is a business.

I will read the file. But overall, I really hope one day, I can make pips consistently and earn 30% of my annual income. But at the bottom line, profits/fast money is not what I am interested in, but the challenge of the entirety of this whole journey because forex is something everyone thinks it is an easy hit but there is more art than it seems. Learning this skill is something more than just money, its the emotional and discipline aspect that I want to train as well.

Cheers
Birdy
Congratulations on your new new thread. I have subscribed.
Quoting birdnest
{quote} Hi Davit, Thanks for your prompt response. I am a position trader because I have a day job and can only analyse charts at specific times. I have been profitable sometimes but not all. Overall, I made a loss of 30% in my account and started on a small trading account again but still losing. I am not afraid to admit this, because I am trying to overcome every single ego and pride I had to want to make this work. It is a business. I will read the file. But overall, I really hope one day, I can make pips consistently and earn 30% of my annual...
We are kind of similar. I have 2 kids mortgage and full time job.I think of myself as position trader as well.
This system is solid.Has good logical rules.Just follow and you will gain your confidence.
30% annual is very doable. You can easily do it provided proper self controls are in place.
Regards
In trading, you have to be defensive and aggressive at the same time
Quoting Davit
{quote} We are kind of similar. I have 2 kids mortgage and full time job.I think of myself as position trader as well. This system is solid.Has good logical rules.Just follow and you will gain your confidence. 30% annual is very doable. You can easily do it provided proper self controls are in place.My goals are little more aggressive.More like 500% annually. Regards
Thanks Davit! Continue to strive in your goals toO!

I believe we will all be able to succeed in our dreams one day and able to help others to achieve theirs as well.
Quoting birdnest
{quote} Thanks Davit! Continue to strive in your goals toO! I believe we will all be able to succeed in our dreams one day and able to help others to achieve theirs as well.
In trading, you have to be defensive and aggressive at the same time
Quoting longbk
{quote} Hi Likica, how to set SL in this case coz if set 50 pips SL we get SL before TP
I moved my SL to 15pips away from the high of those 2 pin bars then moved them down as trades in progress.
Appreciation is the key to wealth and happiness
Birdnest and Davit, thanks for sharing your stories and experience.
Appreciation is the key to wealth and happiness
Quoting likica
{quote} EU daily @support, expecting a retrace.... {image}
gr8 analysis LK ... EU trade all finished - 3K pips in bag - took 7D1 to complete - best yet - all PT hit but i took a few early when lost confidence got to stop that - all MM is in R:R - BE play and locking in some pips [still tinking about this ]

a huge thnx to Davit and Subrina - i learnt a lot from these guys
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Quoting likica
There were many and I got in this GN, spotting the right PA with TDI stepping lower... {image}
huge pips LK - GN hey
I would like to thank LK for creating this wonderful thread, and all the big contributors here.

May I ask how do you choose which pairs you monitor daily? Im having a hard time checking every 30mins almost all major pairs. Thats why I am missing the big ones, ended up not trading at all.

Also, I would like to know what is BE and MM. I heard about those abb a lot here. I have to say I am a big of of griffinsoul also. Thanks for developing the angleator. Where can i check the significance of the symbols included in the angleator, like the circle and squares below?

Looking forward to join you all as I start with tms30 journey.
USD-CAD with divergence, 50 pips TP with a little patience
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What do you think about AUD/CAD for a retrace? H1 pin + R.
Quoting KzX
What do you think about AUD/CAD for a retrace? H1 pin + R.
There might be a retrace but how deep to justify putting on a trade? The H1 green box may stop the retrace dead on its track. Trading is just a game of probabilities.
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Trading can't be taught but it can be learned
Quoting pulubi28
I would like to thank LK for creating this wonderful thread, and all the big contributors here. May I ask how do you choose which pairs you monitor daily? Im having a hard time checking every 30mins almost all major pairs. Thats why I am missing the big ones, ended up not trading at all. Also, I would like to know what is BE and MM. I heard about those abb a lot here. I have to say I am a big of of griffinsoul also. Thanks for developing the angleator. Where can i check the significance of the symbols included in the angleator, like the circle and...
Welcome pulubi28, BE = breakeven, move Stoploss to zero once a trade has moved in your favor so you don't suffer a loss. Depending on the context, MM = Money management. It could also mean market maker or market manipulators which are big banks and big institutions.
Trading can't be taught but it can be learned
Quoting Pipsninja
{quote} There might be a retrace but how deep to justify putting on a trade? The H1 green box may stop the retrace dead on its track. Trading is just a game of probabilities. {image}
TP1 486, TP2 450. I have two sell limits set, one 50% of h1, second above.

[Edit] That H1 looks a bit different on my chart.
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Quoting KzX
{quote} TP1 486, TP2 450. I have two sell limits set, one 50% of h1, second above. [Edit] That H1 looks a bit different on my chart. {image}
My posted chart was with synergy APB candles, H1 candles can't differ by too much from a broker to another but H4 yes. Here is my chart with regular candles.
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Trading can't be taught but it can be learned
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Quoting longbk
USD-CAD with divergence, 50 pips TP with a little patience {image}
nice trading Long
Appreciation is the key to wealth and happiness
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