TMM journal

[Bettina]

Hi Nitin,

just a guess : Multiply the Max and MinZL values by 100 ! Yen currencies have only 2 digits.
Bettina

Correction : For Yen quoted currency pairs 1 pip is 0,01 Yen ( some brokers might have 3 digits )

[tmmbabs]

Hi TMM,

Interesting to see you are having success on 5 min just trading the dots - Would you mind sharing your method please.

Thanks
Ian

I dont have any method of my own trading the dot, rather than the one immy use, all i do is trade the dot in the direction of the purple line not to trade against it, sometimes i break these rule, but i pay the price more than the reward, trading is simple but the hard part is the discipline to stick to plan and rule... hope this help.

[Nitin]

Hi Nitin,

just a guess : Multiply the Max and MinZL values by 100 ! Yen currencies have only 2 digits.
Bettina

Oh lol how I forget this ) thanks Betina

And yes Steve I'll try to adjust settings according to E/J, Thank you so much for great help

Regards

Nitin

[tmmbabs]

Second thought from a friend of mine and a good trader:-
1. Focus on a single pair. If a trader can not have consistent success trading a single pair, he/she will not have consistent success trading multiple pairs. Do not divide your focus and attention. ** I trade More than one pair so this will be optional or for newbies or is a wise advice****
2. Look to make only 50 pips per week. It is a fair, reasonable and easily achievable target. This takes pressure off of feeling the need to get in every move and getting upset over missing a move. Most traders, particularly beginners try to make a lot of pips. The focus is too much on making huge pip gains, either in a single trade or over many smaller ones. Overtrading causes mistakes and the need to make more and more. I've done 50 pips this week and I am done for the week. I reached my goal and I am done. If I happen to see a really good setup, I may go ahead and take it, but I am under no pressure to take any further trades. This 50 pips per week is quite powerful if used.
3. Don't get pip greedy. Focus on consistency. When you can consistently gain 50 or more pips every week, or nearly every week, you will have a steady, consistent and reliable income. Being consistent means your account will steadily grow and you will know or have a good idea of what you will be making every week in advance. I trade AIMS market conditions and so have far more opportunities. This allows me to be consistent and this keeps drawdowns to a minimum.
4. Apply solid and sound money management. Money management is far too often ignored by beginning traders. Even having the best trading system there is will eventually cause one to fail if one does not practice good money management. MM is a major factor to success. No one and I mean NO ONE has become a trading success, being able to live off one's trading without it.

[immy]

Second thought from a friend of mine and a good trader:-
1. Focus on a single pair. If a trader can not have consistent success trading a single pair, he/she will not have consistent success trading multiple pairs. Do not divide your focus and attention. ** I trade More than one pair so this will be optional or for newbies or is a wise advice****
2. Look to make only 50 pips per week. It is a fair, reasonable and easily achievable target. This takes pressure off of feeling the need to get in every move and getting upset over missing a move. Most traders, particularly beginners try to make a lot of pips. The focus is too much on making huge pip gains, either in a single trade or over many smaller ones. Overtrading causes mistakes and the need to make more and more. I've done 50 pips this week and I am done for the week. I reached my goal and I am done. If I happen to see a really good setup, I may go ahead and take it, but I am under no pressure to take any further trades. This 50 pips per week is quite powerful if used.
3. Don't get pip greedy. Focus on consistency. When you can consistently gain 50 or more pips every week, or nearly every week, you will have a steady, consistent and reliable income. Being consistent means your account will steadily grow and you will know or have a good idea of what you will be making every week in advance. I trade AIMS market conditions and so have far more opportunities. This allows me to be consistent and this keeps drawdowns to a minimum.
4. Apply solid and sound money management. Money management is far too often ignored by beginning traders. Even having the best trading system there is will eventually cause one to fail if one does not practice good money management. MM is a major factor to success. No one and I mean NO ONE has become a trading success, being able to live off one's trading without it.

Thats a very good plan and solid advice! Thanks Tmm! (hug)

[tmmbabs]

Am still alive and trading still goes on as usual, just that Trading is a boring job and i love my life outside Forex. here is my latest trade, same same, alligator asleep aim box less than 15pips, pending set and boom here we goooooooo....

[immy]

Am still alive and trading still goes on as usual, just that Trading is a boring job and i love my life outside Forex. here is my latest trade, same same, alligator asleep aim box less than 15pips, pending set and boom here we goooooooo....

TMM

You've been following this approach since 2010 and your charts still look exactly the same as they did in 2010/11. Thats the key to success. Consistency. Nice simply clean charts... love it

Well done my friend.

cheers

[tmmbabs]

Brick layers.... Enjoying the waves \:D/

[tmmbabs]

Outcome

[tmmbabs]

GU Trade