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The Tlatomi Experience

  • #181
  • Aug 19, 2006 2:32pm Aug 19, 2006 2:32pm
Quoting yacob
Dan,

Be patient relex your mind take a rest for couple of week or month. Investigate why you loss is it because of alot of method? Professional trader only stick to one method! The simple the method is the best!


REMEMBER THIS, EVERY TRADER SHOULD :

1. PATIENT
2. FOCUS
3. DESCIPLINE
4. CONFIDENT




"EMOTIONLESS KEY OF SUCCESS"


I dont have success. 30 pips stop and 10 pips limit? Have You traded this method LIVE? Do You have success?

Thank You,
Dan.
  • #182
  • Aug 19, 2006 5:03pm Aug 19, 2006 5:03pm
Quoting Dan7974
I dont have success. 30 pips stop and 10 pips limit? Have You traded this method LIVE? Do You have success?

Thank You,
Dan.
Dan,

Go back to the H4 time frame and stay there until your account gets back up. Also, I would start to educate yourself on more trading skills and money management. I haven't looked around this forum enough yet but I am sure there are good discussions on money mangement. I have mentioned before that high leverage is a two edge sword. Why do you think brokers will give you as high as 400:1 leverage. They know that will take away your money.

I have been trading over 25 years but only found the Forex 1 1/2 years ago. I have never been in a trading situation where the broker wanted you to lose your money. If you don't know this you better get wise. Most brokers are "bucket shops". They have dealing desk and it is to their advantage that you lose your money. It is not just the spread, "commission", that they are after.

There is a lot of money to be made trading. Do you think it is as easy as following the little bouncing dot. If it is, then every one would be rich. Market forces are at play here and if you are going to be successful at trading the forex your better get good. You are competing against the world, and now your broker.
  • #183
  • Aug 19, 2006 6:24pm Aug 19, 2006 6:24pm
Quoting tortoise
Sorry to imform you but you are talking hypothetical. I have read that theory on many trading manuals and books. It sounds great, makes sense, even logical but it is not real life.

Show me a system that you know what your profit is going to be each time. The market gives you what you get. That's it. I don't know what I will make with each trade. Yes I am taking 10 pips on a M30 but on a H4 I let the market tell me what I should be happy with.

And really the same applies to stops. Picking an arbitrary pip amount for a stop loss is a newbie's mind set. The market has to tell you went to get out.

See you in the real trading world.
Hey tortoise

I've been trading 11 years so I'd like to think Im in the real world! As I said in the post, it wasn't a criticism, but more my observation so Im not sure the rudeness was warranted. If a 3:1 Risk Reward works for you then great, Im happy.

Oh, and by the way..if you study the price action on the pairs you'll know where to place stops and there's nothing arbitary (or newbie) about it.

Good trading to you mon ami.
  • #184
  • Aug 19, 2006 7:12pm Aug 19, 2006 7:12pm
Tortoise, do you want to say that brokers always play against us and it's virtualy impossible to make money on Forex because they'll do everything to make us lose? Sounds scary... Do we learning and trying for nothing?

Also you mentioned that what brokers feed us is not real Forex data. What about live accounts?

Hope it's not that bad...
  • #185
  • Aug 20, 2006 6:15am Aug 20, 2006 6:15am
Quoting tortoise
Overall I do not feel different data sources will affect this method, especially on a H4 TF.
Actually it's exactly the opposite.

The 4hr bars/candles may be completely different because different MT4 brokers use different times for their data feed. Some of them are on EDT, others use GMT, others GMT+1, or GMT+2 and so on. As a result on a 4hr system you get different signals because those bars start and end at a different time. For instance one chart has the 4hr bar from 8 AM to noon GMT, while another one has it from 9 AM to 1 PM GMT. Same thing with dailies. Only the smaller time frames are similar (there can be a small difference of course, but only a few pips).
  • #186
  • Aug 20, 2006 3:09pm Aug 20, 2006 3:09pm
Quoting Zuke
Hey tortoise

I've been trading 11 years so I'd like to think Im in the real world! As I said in the post, it wasn't a criticism, but more my observation so Im not sure the rudeness was warranted. If a 3:1 Risk Reward works for you then great, Im happy.

Oh, and by the way..if you study the price action on the pairs you'll know where to place stops and there's nothing arbitary (or newbie) about it.

Good trading to you mon ami.
Sorry you took this as rudeness. It was not. Reading emails and post like this does not allow you to hear the persons voice inflections and expressions on their face, so my apologies if you felt I was rude.

First I agree with your point where to place a stop. "...if you study the price action on the pairs you'll know where to place stops..." Okay we agree that market tells you so you may not be able to make the trade if that stop is too large or just trade less of a positon. So my point here is that people on this method are looking for how much to risk. That is an individual decision. If market sets the stops then just adjust the size of your trade, not the number of pips.

Second part of the ratio is the profit. Like I said in my post, most times the market gives me what I get and I am happy with that.

Do you set a limit on how much you will make? There are ways to project expected market movements, like Fib nos. and pivots. I find don't find it necessary to do the math. I have just learn to know when I am wrong and get out. Here is my clue, I'm losing money!!!
  • #187
  • Aug 20, 2006 3:18pm Aug 20, 2006 3:18pm
Quoting JBB
Tortoise, do you want to say that brokers always play against us and it's virtualy impossible to make money on Forex because they'll do everything to make us lose? Sounds scary... Do we learning and trying for nothing?

Also you mentioned that what brokers feed us is not real Forex data. What about live accounts?

Hope it's not that bad...
Most people lose there money when trading. I have heard as high as 90%. That doesn't scare me because there are plenty of other occupations that the odds of being successful are just as low.

As I am typing this post there is an ad on the left side of my browser of a broker that says, "No Dealing Desk". Do you know what that means? If not, go read about Forex brokers.
  • #188
  • Aug 20, 2006 3:28pm Aug 20, 2006 3:28pm
Quoting LazyPawn
Actually it's exactly the opposite.

The 4hr bars/candles may be completely different because different MT4 brokers use different times for their data feed. Some of them are on EDT, others use GMT, others GMT+1, or GMT+2 and so on. As a result on a 4hr system you get different signals because those bars start and end at a different time. For instance one chart has the 4hr bar from 8 AM to noon GMT, while another one has it from 9 AM to 1 PM GMT. Same thing with dailies. Only the smaller time frames are similar (there can be a small difference of course, but only a few pips).
Good point on the H4 time frame. I didn't thiink of that. I just saw the bars looked different and the dot was at a different place on two different MT4 charts from different sources. However I will say that I have had 3 different chart programs up at the same time. All have different data sources and all look different. It is more that a few pips but I will not begrudge the point.

Just wanted to point out to the forum that if one person sees a trade signal on one bar and the other person doesn't then check your source of data.
  • #189
  • Aug 20, 2006 3:38pm Aug 20, 2006 3:38pm
Quoting Dan7974
This was a whipsaw.

Sorry...not yet....the market almost closed Your postion. There was 1 pips left to go !!!

Attached a chart .
No Dan my position is still in place and stop loss was not hit, i think i will left trade opened until a new cross 5-9 will pop up. Actually i'm -16 pips float.
  • #190
  • Aug 20, 2006 4:28pm Aug 20, 2006 4:28pm
Dan

What currency are you trading?

Tom
  • #191
  • Aug 20, 2006 4:46pm Aug 20, 2006 4:46pm
Quoting tomhen
Dan

What currency are you trading?

Tom
GBP/USD
  • #192
  • Aug 20, 2006 7:16pm Aug 20, 2006 7:16pm
Can anyone tell me how to put NonLagMaV4,shi_silvertrendsig, and fx sniper ergodiccci trigger indicators on the Metatrader 4 platform. Please keep in mind that I'm not real computer savey. Thank you.
  • #193
  • Aug 20, 2006 8:46pm Aug 20, 2006 8:46pm
Quoting Toothman
Can anyone tell me how to put NonLagMaV4,shi_silvertrendsig, and fx sniper ergodiccci trigger indicators on the Metatrader 4 platform. Please keep in mind that I'm not real computer savey. Thank you.
Most of your beginning questions on how to trade this system are already answered in this forum. I will direct you to the posts to get your answer.

For this question Read #92 Page 7 in the Tlatomi Method
  • #194
  • Aug 21, 2006 6:02am Aug 21, 2006 6:02am
Quoting tortoise
Sorry you took this as rudeness. It was not. Reading emails and post like this does not allow you to hear the persons voice inflections and expressions on their face, so my apologies if you felt I was rude.

First I agree with your point where to place a stop. "...if you study the price action on the pairs you'll know where to place stops..." Okay we agree that market tells you so you may not be able to make the trade if that stop is too large or just trade less of a positon. So my point here is that people on this method are looking for how much to risk. That is an individual decision. If market sets the stops then just adjust the size of your trade, not the number of pips.

Second part of the ratio is the profit. Like I said in my post, most times the market gives me what I get and I am happy with that.

Do you set a limit on how much you will make? There are ways to project expected market movements, like Fib nos. and pivots. I find don't find it necessary to do the math. I have just learn to know when I am wrong and get out. Here is my clue, I'm losing money!!!
Hey tortoise..as you said..posting words makes the inflections difficult to read, so lets just put it down to misunderstanding. I agree with everything you said, however my original point was that Dan was taking his profit after 10 pips and not allowing them to run. He was also risking 3x more than his TP and hence putting pressure on himself by needing to have a high win ratio. It goes without saying that if he had 2 losers in a row, he'd have to have 6 straight winners just to break even..a recipe for blowing out an account! I mainly trade Cable and the 100+ daily range (which occurs over 75% of the time) provides for 1:2 or 1:3 Risk:Reward Trades. when I place a trade, Im looking at where I will put my stop (beyond the lows of the previous bars, pivots, Fibs, Vegas etc) and where I am likely to start to scale out (again, Fibs, pivots, Donchian cHannels, MTF or whatever). I then do a quick R:R calculation to see if there's at least a probability of 1:2 trade. If not, I'll stand aside and wait for what I believe will be a more profitable trade. So, my original point was that rather than Dan taking 10 pips..he should scale out his trades use Fibs, PP etc in order to maximise his winners.
  • #195
  • Aug 21, 2006 7:02am Aug 21, 2006 7:02am
Quoting Zuke
.... my original point was that Dan was taking his profit after 10 pips and not allowing them to run. He was also risking 3x more than his TP and hence putting pressure on himself by needing to have a high win ratio. It goes without saying that if he had 2 losers in a row, he'd have to have 6 straight winners just to break even..a recipe for blowing out an account!

... a quick R:R calculation to see if there's at least a probability of 1:2 trade. If not, I'll stand aside and wait for what I believe will be a more profitable trade. ...
This system has had good contributions to the method. Anyone can see many profitable trades on the charts. Your point here is well taken. A good system will not be profitable unless there is a good plan for money management.

What are your thoughts on size of trade with relation to your account size? I have read people on this forum putting their max lots on there trades. This is also a recipe for blowing out an account.
  • #196
  • Aug 21, 2006 9:06am Aug 21, 2006 9:06am
ok... can anyone here change the code in the fx sniper to do this:

when the indictor lines slope changes to < (a certain amount) color the lines a different color.

i.e. when the blue line flattens out before heading and crossing over the signal line, color it a different color.

kinda of like a neutral zone.

i think this would help to identify tops and bottoms.
  • #197
  • Aug 21, 2006 4:17pm Aug 21, 2006 4:17pm
Quoting HAGeek
ok... can anyone here change the code in the fx sniper to do this:

when the indictor lines slope changes to < (a certain amount) color the lines a different color.

i.e. when the blue line flattens out before heading and crossing over the signal line, color it a different color.

kinda of like a neutral zone.

I think this would help to identify tops and bottoms.
I may be speaking in ignorance, but I am sure the FX_Sniper came from a list of indicators for MT4. There is a zip file your can download with about 450 of these custom indicators. Not sure if anyone here does that kind of code writing except for modifying the properties.

Look at Post #2. The cross is pretty clear and you are really waiting for the MA cross with the arrow to initiate the trade. I use the CCI to show a better set up, i.e above 200 or below -200. Of course I want to see a cross after the dot and before or on the MA cross.
  • #198
  • Aug 21, 2006 8:05pm Aug 21, 2006 8:05pm
Quoting tortoise
I may be speaking in ignorance, but I am sure the FX_Sniper came from a list of indicators for MT4. There is a zip file your can download with about 450 of these custom indicators. Not sure if anyone here does that kind of code writing except for modifying the properties.

Look at Post #2. The cross is pretty clear and you are really waiting for the MA cross with the arrow to initiate the trade. I use the CCI to show a better set up, i.e above 200 or below -200. Of course I want to see a cross after the dot and before or on the MA cross.
Do YOU take profit at 10 pips for this method on M30? Or do You take more? Thanks !!!

Thank You,
Dan.
  • #199
  • Aug 21, 2006 9:11pm Aug 21, 2006 9:11pm
Quoting Dan7974
Do YOU take profit at 10 pips for this method on M30? Or do You take more? Thanks !!!

Thank You,
Dan.
Dan,

Read what Zuke says iin Post #194. Unless you get very skillful at reading market conditions and knowing when is a good time to trade the M30 I would stay away from M30 time frame. Your timing has to be perfect to limit your risk to what you are making. I would trade higher time frames. Even H1 is better. Use other analysis to select the good trades and let questionable ones go.
  • #200
  • Aug 21, 2006 9:36pm Aug 21, 2006 9:36pm
Quoting tortoise
Dan,

Read what Zuke says iin Post #194. Unless you get very skillful at reading market conditions and knowing when is a good time to trade the M30 I would stay away from M30 time frame. Your timing has to be perfect to limit your risk to what you are making. I would trade higher time frames. Even H1 is better. Use other analysis to select the good trades and let questionable ones go.
Yes....but....when do YOU ( personally ) take profit on M30, H1, and H4? Thanks soo much !!!

~Thank You~
~Dan~
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