The Manchild Journey
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Thread: The Manchild Journey

  1. #1
    Initial place. I have been a long time lurker here, learning and borrowing* egies, theories and egies. I have to say that this site has undoubtedly been the best find for me accompanied by downloading and playing with Metatrader (hence accepting that there's something of significance in MS Windows.) If you haven't read it yet, loe The 5 Steps to becoming a trader posted by Diallist. It is very telling and can get you outside measures 1 and 2 more quickly. I would like to think I'm at Step 3 but I'm only going to take Step 2. I have been noodling around with Forex for approximately 2 decades largely unsuccessfully (7 years in the stock market with largely wins in the last 4 decades.) I have had my initial *aware * successes in forex using variants on MuddBuddha's Simple Forex System and variants on my understanding of Vegas' methodologies. I could use some decent ranging market perspectives to chew on. Right now I have little interest in brief timeframe trading - maybe when I could quit my day job and do whatever* fulltime. My preference would be to have the ability to get into a trade and sit on it for a day or longer - which can be my source of fruion in a ranging market.

    Anyway, my aim with this journal would be to post my successes and failures. Possibly discuss trading styles and methods (I'm absolutely open to ideas.) Perhaps post a fun anecdote here and there. I'll probably post some of my transactions after the fact because it would be preferable to learn my trade has been good/bad after I'm out so my choice will not become contaminated midstream. Right now I'm mostly concerned with choosing good deals with the goal of break-even. I'll be concerned about optimizing exits after obtaining *BE* with solid entries for awhile. I really don't want to be concerned about how much money or how many pips I profit. That's part of what got me into trouble previously (greed.) The icing will be grabbing a major advantage. Win or loose, the speedy action in forex has matured my perspective in the stock market.

    Anyone is welcome to post here with another thing: keep it polite, keep it honest and be considerate. I'll attempt to do the same. I have enough time and don't yet have the time management abilities to perform otherwise. Also, there's no such thing as on-topic or off-topic here.

    That's all for now. Thank you, fantastic luck and have fun.

    Manchild

  2. #2
    I went USD/JPY in 116.09. Set my initial stop at 115.65, TP in 116.99. I moved my stop to BE.

    I still have my GBP/USD position open but I am already ensured a win so I am fine with using the excess leverage on a new loion. I've since moved my stop to 1.8889 along with my TP into 1.8795.

    Love,
    Manchild

  3. #3
    Quote Originally Posted by ;
    Went short GBP/USD at 1.9028.
    Well, I got stopped out at 1.8849 for a 179 pip profit (minus the 0.5 pip rollover)! It seems like it just barely hit my stop at that. Must have been my broker searching stops : My MA suggests I must still be in play but I will worry about that some other day - probably once I play with enough lots to scale out. The perfect exit within this play would have been at 1.8792 for an extra 57 pips however as we all know, perfect exits and entries are uncommon.

    Overall, I don't have anything to whine about. I attained 179 more pips than that I set out to and all is good. I am still in my USD/JPY trade and patiently waiting for my next sign.

    179 pips
    -0.5 pips (collection plate for your forex gods)
    staged total: 178.5 pips

    Love,
    Manchild

  4. #4
    Quote Originally Posted by ;
    I moved long USD/JPY in 116.09.
    I was stopped out in 116.41 from 116.09 (and 4.1 pip rollover) to get a 32 pip gain. I am glad to have a couple of decent wins to take the sting out of prospective losses... they will come...
    32 pips
    4.1 pips (rollover... that I may have to loose the collection plate analogy They gave me it, I swear!)
    36.1 pip gain

    running total 213.6 pips (just about 2000-3000 pips to go before total BE...)

    Enjoy!

    Manchild

  5. #5
    I was going to ask about this mornings BOE Interest Rate Statement but policy has been started on a different thread. It is almost as if everybody was extremely disappointed that the expectations have been fulfilled. I am posting the connection more as a reminder to myself to consult Google about exactly what a bearish/bullish Gartley is. Additionally, I thought others can get something out of it. If nothing else there'll be a higher likelihood of a meaningful discussion regarding todays BOE Interest Rate Statement on the other thread.

    Thank you,

    Manchild

    https://www.nigeriaforextrading.com/...scillator.html

  6. #6
    Evidence it is indeed *possible* to make substantial gains by holding on your trades that are trending. I understand there is a lesson in my last GBP/USD trade. Probably several. The most obvious lesson is driving the tendency to it's conclusion. The trick* is determining when the trend has actually finished. IF, IF, IF. If I was in this trade I would be up an extra 200 pips (at the moment the price will be around 1.8650 give or accept ) There was a time when I would have been angry over not getting them and that I may again in the future when I believe I understand what I am doing. At this time I am seeing in amazement at what the price is doing and looking ahead to some unknown point in the future when I can grab another trade very similar to the one and ride it even further . I've got just a little time to contemplate if I should have done something different with my own stop. I am likely to say that my stop was fairly placed though. Hindsight tells me this is a good example of why it's beneficial to trade multiple lots and scale outside. ing in profits with one lot and feeding your curiosity (and hopefully lining your pocket book) together with the remainder. I really do get the impression though that I need to change my approach to my initial stops. Currently I am placing them previous highs or lows. That place my initial stop with the GBP/USD with a possible loss of over 70 pips. At least I am beginning to learn to move my ceases to BE after I am in positive territory.

    There is much to learn.

    Manchild

  7. #7
    I had been considering a re-entry on GBP/USD. In part because in the past I've avoided entering trends midstream and occasionally that just seems silly. The trend looks strong BUT... I've been doodling with Fibonacci retracements and this pair seems to be at one of them thar lines (the 23.6 level.) Interestingly , I noticed whatnigeriaforextradingindies as a High Impact news event tomorrow regarding the GBP. Is there correlation between that news event and the flatness of the pair right now? The alleged Fib level and the flatness of the pair? All three? None of the above? I have not analyzed a correlation with major news events and Fib retracements. I've only begun writing a script to place lines at NFP events and will probably do the same for other High Impact events. I forecast the GBP will proceed again following tomorrows Consumer Price Index announcement. I also predict it will go up or down. Regardless, I'll sit out of that pair until following the announcement and determine what to do tomorrow. I am going to hypothesize that following it moves it will keep moving until a few hours before Friday's CPI report. Do you think I will construct some random set of lines to forecast where it will melt?

    Please note that this speculation is only for my entertainment. I really don't understand what I am doing and my crystal ball is still on back order. Be sure though that when I am right I'll run out and buy myself a lottery ticket.

    Manchild

  8. #8
    Bought AUD/USD in 0.7532 stopped out in 0.7495 -.5 pip rollover.
    Well, Can't win them all. I entered this afternoon and had been stopped out for a 37.5 pip reduction (after rollover) negating a little bit greater than my JPY profit. I can not appear to find the Aussie dollar to work for me.

    To stick another Almost doesn't count in my hat - the bend in my 4 Hour 8 EMA made me perk up a bit last night using the GBP/USD but that I stayed out because of my doubt with the pair. Ironically, I believe I was also somewhat uncertain using the AUD. Anyway, I'm eagerly observing the GBP to see how things unfold.

    Good fortune,

    Manchild

  9. #9
    Sold EUR/JPY in 149.58 with an initial stop at 149.91. Have moved my stop to BE. I wonder if the GBP has flattened out for the next few days. Time will tell.

    Manchild

  10. #10
    Quote Originally Posted by ;
    Sold EUR/JPY at 149.58 with an initial stop at 149.91. Have moved my stop.
    Technically I gained.7 pips but for all intents and purposes I am calling it break . I got gouged on the rollover going short on the EUR/JPY to the tune of 5.3 pips. This may explain why the currency pair was driving up for the past several years. I'd guess it will keep doing so until Japan starts to ch up on interest rates.

    Manchild

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