Would it be too much trouble to pay me back my $20,000, my sexy darling?

The Market is my beautiful friend. She loves me and wants to take care of me. She borrowed $20,000AUD of me and now she is paying it back. Which is very nice of her cause that $20,000 was all I had! I have had a nice break from the market while I was busy trying to deal with all the problems my loan to the market caused me. I scraped together $700 and traded again for the first time in 6 months. I spent 18 months of lurking and studying the threads here. She has started paying me back much quicker than I had anticipated and I am sorry for doubting she would ever pay me anything at all!

EDIT:Since starting this journal over two years ago I have lost another 10K totaling 30K in losses to recover before I can call myself profitable. I stopped losing money a year ago and have finally stated to achieve consistent gains after four years of struggle and pain.

EDIT 27th July 2010
To save you reading the whole thread, I have collated the educational posts on my trading techniques

I analyze from top down using trendlines, fibs, previous swing points and round numbers to determine support/ resistance. I use candlestick patterns and some chart patterns. I keep a close watch on retail positioning as a contrarian indicator. I read quite a bit of news

I have two main trading styles - multiple time frame and single time frame set ups.

1. trade bounces of higher time frame S/R on lower time frame

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2. Single time frame S/R, chart patterns and candlestick
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This whole page shows how a combination of both types being used at once
http://www.forexfactory.com/showthre...=50502&page=23
Also I read a lot of news and I have been known to trade releases. Im not so interested in doing this these days
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Unfortunately there is another category of trades, revenge, boredom, impatient, hopefull and just plain senseless. These haven't helped my cause. Removing the stop to hope a loser will come back has been the account killer every time. Psychology is the most important factor

Do not make your journey in Forex a love story. Currencies do not love anyone nor hate anyone. Do not be thankfull to a pair nor angry.

Be glad you are making money

And there's no reason why you can't use Oanda as your broker, who offers micro accounts, so you can do MM the right way.

Wise words about emotion and trading - I just wanted to make my story more entertaining to read for anyone who was interested. I took the trouble to look at your stochs guide as I use them along the same lines and spud and teb. Ive added your 20 and 50 stochs for single time frame trading - Thanks

I am really familiar with my current platform and charting package but I was considering oanda for the reason you said and also I believe they have exceptionally tight spreads. Ill look into it again. it would be a good idea at least until I have the funds to trade a mini lot and would help me protect my gains to date

great job with the recovery, which magic trick did you use ?

the closest thing I have to a magic trick is belief in myself
the rest has been days and weeks of studying charts,systems,a couple of paid courses and untold hours spent studying threads here on ff, over the last three years. flushing $20.000 down the toilet was also an excellent lesson

I use mtf stochastics that I learnt from spudfyre and teb. I trade mainly trade cable on the hourly chart. I wait for stochs to go oversold or overbought against the 4hr time frame trend . I have small targets usually only 20 pips even if my stop is larger as this gives me a statistcle edge if the timing isnt as good as it could have been. The main difference between me and the other guys is I wait for a break in the direction I want before I enter. This avoids early entry before the retracement has finished running its course. I would love to post a chart but when I click the insert icon it asks me for a url address of where my pic is and I have no idea what this refers to as the charts are in my documents. If any one could explain how I go about including charts in my post that would be great

Hello M.A.C.Doug ,


Let me assist you with that . U glance through the attachments first. About the url which you are speaking of is nothing to do with what you are trying to do. That url refers to , if that pic which you are refering to is on a web site.

Since you said that pic is inside a folder/document in your pc, kindly refer below.(if only one pic to attach).

Step by step guide.
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1. Click once "Manage Attachments".

2. Under "Upload File from your Computer" , next to the empty column, click once "Browse".

3. Look for the pic which you want to attach. Upon finding it, click the pic twice. Then you will be brought back to the "Manage Attachments" window. Click "Upload" just next to it. Choose the one near the root file.There are 3 "upload". Don't be wrong.

4. Wait till it finish uploading. After that, scroll down the "Manage Attachments" window. At the bottom of it click once "Close this window".

5.Click "Preview Post". If everything are in order, then, click "Submit Reply".

That be all..

Sweet, thanks VennD
Here is a trade I took during the London session using the boxingislife sexy stochastic indicator. I do not use the 5/8 cross in that system but I wait for a line break as shown in the chart below. It is just another way of multiple time frame stochastic trading but I really like this indicator because you only need one chart to trade it. Thanks melpheous for putting me onto the sexy stochastics thread.

1. longer term stochs (bottom of chart) show strength is with the bulls by all three stochs above there signal lines
2. 533 stoch dips and then turns back up (middle indicator window black and white line)
3. 3 pip break of the trend line triggers my entry
4. 30 pip target set 3 pips below R1 pivot resistance. Stop was placed just below the previous swing low for a 2/3 risk reward on the trade

this trade was as safe as houses and had recent fundamental support also

flushing 20 000 into toilet ?

doesnt that have double edge ? because when someone lose money on his trade to you, it could also mean the same to you... a toilet

.....

Your absolutely right. Thanks for reminding me of that fact. Also its much more difficult to retrieve money after its been flushed so I think I'll stick with my original metaphor of a loan. Thanks for the laugh Syafi

.. money lost is just part of the trading...

lets make profit..... . I wish you great success

M A C Doug,

so you also going for breakouts ?

i do that as i'm not skilled enough to predict prices so i try to trade breaks on 1hr charts.

so you use stochastics to help confirm breakouts ?

Thankyou for posting
Its more like the break confirming the stochs as the stoch turns first and then the break occurs. You will notice on the previous chart that price had not actually broken out as price was still below the previous swing high. So I used the predictive power of MTF stochastics but waited for a "line break" to insure the downtrend was finished.
A "break out" of the previous swing high would have also worked but the stop loss is much greater because you still need the stop below the swing low to give the trade a chance.
A simple line break, not even a tom demark trendline, is enough of a break to ensure a very good win/loss ratio on your trades provided your not too greedy and happy with a 1:1 risk reward. Many of my trades have a risk reward ratio of less than that so I get pretty excited when a reward better than 1x the risk is offered as was the case with that trade. That is the main trade trade I look for but that is not all I do.
I am an opportunistic trader and try to trade any opportunity I am able to recognize as a high probaility. I say try because sometimes I falter because of fear which is exactly what happened tonight and this one got away Here is a what I considered to be an extremely high probability Long trade but with a higher risk to reward ratio.

Here is the information that was available to me
1 Expected trading range for GBP today is between the M1 support and the M3 resistance pivot levels
2. Price tests M1 the expected low for the day
3. the low is rejected and a hammer forms on the hourly chart to reveal a reversal is likely.
4. Enter on open of the next candle, do not fear or hesitate!
5. Stop placed below the M1 support pivot risking 47 pips (a tighter stop below the S2 pivot would have been acceptable)
6. Target placed conservatively 5 pips below the central pivot for a 30 pip reward.
Price cannot be predicted. This is nothing more than an educated guess which in my experience has a higher probability of success than failure. Price can and will go wherever it wants to
The risk is 1.5 times my reward a big no-no according to all the trading guides but this is cable on forex . If you chase 3 times your risk as recommended you will lose to many times to be successful, period. I prefer to win the trade. I was going to pretend I actually took this trade but I corrected myself and told the truth to let you see that I still make mistakes and have to constantly deal with both fear and greed (and ego). This is more helpful than lying to you to make me look better. I would have scrapped the whole post but it took to long to do so I fessed up instead.I promise to always be truthfull

The truth shall set u free! - Heres a trade I took for real a little later in the session and was rewarded 20 pips for my efforts

price fails to make a new high despite a convincing hammer earlier in the session. The sexy stoch indicator signals a second time to short cable after its failure to break and hold above the central pivot. Not often the market gives you a second chance at the same levels. This trade had fundamental support after a shocker house price survey number. Entered at 2.0388 and closed out 3 pips above the S1 support for another 20 pips

Good to see your name up in lights Doug, and great to see you are getting your money back.

Thanks for reading my thread and the kind words of encouragement. My account is at $1403 after this last trade today so I have doubled my money. I risked 25 pips to get 25 pips on this trade. Each pip was worth $1.30 to me so I was risking 2.4% of my total equity. My risk, as predicted, is now in the zone of proper risk management trading 1 mini lot
I got a long signal on the 15 min, only a couple of hours after my short trade, in my prefered direction this time, as the retail sales number was released. The number was pretty good but traders sold dollars anyway and handed me 25 pips! - Thanks to boxingislife sexy stoch indicator and self belief Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1192194080

The whole thing it so find a strategy that suits you and obviously you are following the same path as i did when i read Boxingislife strategy.

That is also why i spent so much time on his thread and made a pdf for it...

Long life to the sexystochs

Thankyou for finding me and bringing me in Melpheos

I took this trade at 6.00am NY time(8pm my time)thursday.The trade is supported by the rejection of the lows after the central pivot is tested during a retracement. A hammer forms above the central pivot. This is the sort of strong technical support for the sexy stoch indicator signal that I require to take a position.The trade moved against me quite aggressively but the analysis was good and a second hammer formed as price closed back above the central pivot. My target was consevative, it did not require price to breakout of the channel it was in increasing my odds of success. This is how I increase my odds and win most trades. Ive added 10% to my account far this month. I am at $1450 - only $18,550 to go my sexy darling. I will explain why 20 - 30 pip trades are worth much more than 200 - 300 pip trades and much quicker and easier to get if anyone doesent understand the money management principle behind it - just ask me