The Manchild Journey - Page 2
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Thread: The Manchild Journey

  1. #11
    Well, after sitting on my hands awaiting the GBP/USD to exhaust on down the way and avoiding the entry on it's rise. I finally found my opportunity and sold GBP/USD in 1.9000... and was stopped out in 1.9060 for a 60 pip loss. The Pinocchio pub (on a 4 hr chart) from the European semester got me. It *Nearly * makes me want to play without stops but the moment I do so the market will run for 200 pips. I think I opened my place a few bars too shortly. My 8 interval SMA was pointing down once I entered but not following the close of that bar. I must have waited a couple of pubs. The pair appears to be ready to come back down from it's recent rise but I might be wrong. We are going to see. I will likely attempt the pair again after if it still looks great.


  2. #12
    I offered the EUR/USD in 1.2762 with an initial stop set at 1.2805. I've since moved my stop to 1.2752 - guaranteed 10 pips. 60 or more when the trend persists. I am considering a re-entry of this GBP/USD but I am wondering when I'd be better off opening a different place from the EUR/USD because of a short term correlation between the two pairs. I'll wait a couple of hours to find out what they do and make my decision then.


  3. #13
    I closed my place last night in 1.2725 after my 8 SMA curled upwards and ended up with a 37 pip gain. Regaining a bit more than half of the loss that is previous.

  4. #14
    The day after my loss together with the GBP/USD I did re-enter. I offered at 1.8959. Currently my stop will be set in 1.8820 and will probably go down it a little. If I had not been stopped outside earlier I would be gaining an extra 40 pips but I should never feel awful using a profit. We are going to see what tomorrows news attracts us. I'll probably either be stopped out or be seated on a bigger profit. I guess that is obvious though. I speculate that the price movement on the night will indie what the motion will be after the news. Just my two pennies.

  5. #15
    I was stopped out of my GBP/USD place at 1.8700 for a total of a 258 pip gain (259 - 1 pip rollover.) My record for the month is 4 Wins, 2 Losses and 1 Tie (BE) for a total gain of about 412 pips on most 7 trades. For those who are trying to earn 10 pips per day - My average for the month is between 15 and 20 depending on the number of times you compute.

    Today I need to look to find out what I can do in order to spot more trades in time to perform them. I understand this week alone I missed great deals in USD/JPY, EUR/JPY. It's most definitely a mix of timing and compliments but now I'd rather sit on my hands than loose cash. This was a much needed month of positive classes for me. I still need to keep my assurance in check so it will not become arrogance. For now I will continue to play 1 lot at a time per currency pair and wait patiently until I can set my stops to BE until I start another place at another currency pair... unless I visit an AAA trade prospect. This mindset may also induce me out of correlating trades. This is a good thing.

    Simplicity and Money Management definitely seem to be the way to go. For the most part I'm only using an 8 SMA to time my entries (and in certain cases exits) and I'm largely trading at the direction of the greater trend. I've been dabbling in other indiors... but mainly simply to see.


  6. #16
    I offered GBP/USD 1.8846 and was stopped out in 1.8845 for a whopping 1 PIP profit! I'd still be in if I'd left my initial stop at 1.8900 but when I saw I was up 50 pips this morning I decided to move my stop into a pip under BE. I still want my winning transactions to remain winning or BE because I'm still at a confidence building phase.

    This seems like a very busy day in the market. I'm sure those of you who can trade short time frames are making a killing today. It will be interesting to see what effect Mr. Bernanke's opinions will have on the market today. My gut tells me that the powers that be want the greenback to continue it's power against the sterling but I am not prepared to trust my gut yet.

    Happy Trading,


  7. #17
    I nearly fell off the webpage. After missing the boat several times and not having too long to look closely at the markets I finally entered a position at the AUD/USD and GBP/USD. Both short and stopped out with a reduction. 41 pips to the AUD and 60 for GBP. I know I mentioned I must quit playing the AUD and now I think I mean it... until I have more time to get the rythm down with it.

    Lately I have been wondering if I need to change to a smaller timeframe believing that I would *see* more trades. Although, every time I look at the smaller timeframes it appears like a more spaztic variant of the bigger timeframes without much added benifit. I probably simply need to bring a coin toss and a flat line. If the price is above the line and I get heads - buy, tails - market and vice versa when the price is under the line. Really, I simply need to remain patient.



  8. #18
    Hey Manchild,

    Great information! Thanks for sharing I am convinced that this has taken you hours and hours

    Best of luck,


  9. #19
    Went short GBP/USD in 1.9028. Set initial stop at around 1.9100 (near a prior peak) with an initial TP of 1.8939. I moved my stop at BE following the pair moved to 1.8988 - already a win for my current aim. I could take profit but I'm more interested in following this pair down to determine where it goes. I thought about shorting a different lot around this point but decided not to because that is not on my schedule with this particular trade. I'm now to the Icing. Gradually moving my stops down once I notice significant price fluctuations. As soon as I got within 20 pips of my TP I bumped it to 1.8884 and transferred my stop back again. Irrespective of what happens I'll have a guaranteed profit. If my stop gets triggered. If my TP gets triggered. It's a win/winmore situation for me personally in this stage. I will get out when the market tells me I told it to escape (I'm not sure I understood that.) If I see my MA suggestion another direction I'll probably tighten my stop. Either way, now I'll be guaranteed a 61 pip profit (excluding rollover.) By some combination of skill and chance I picked a winner. I felt quite good about the choice once I got in and felt better when I could assure BE because in that instant I knew that to a extent it was a winner.

    Stage 0: Buy and market all willie nillie.
    Stage 1: Require superior entries and just expect BE on exit.
    Stage 2: Require superior entries and make adequate exits.
    Period 3: Increase lots on great entries improve and scale exits
    Stage 4: Be (not BE) constant in profitability.
    Period 5: Refine, hone and adapt.

    I expect Phases 1 through 4 to just take me 1 month for 70 years to reach... hopefully sooner than later.


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