My Path To Financial Freedom

I have opened up my live account and will be posting my trades on this thread for it.

I may continue to use my demo account to demo long term trades just to keep on experimenting/learning.
If i do i will post them on my journal that has been going for a couple months now:
http://www.forexfactory.com/showthre...=12084&page=10

Journey begins here!

Buy GBP/USD @ 1.9757
SL: 1.9697
Target: Lot1: 50pips, Lot2: 100pips

I originally had 3 lots, but my internet has been going insane all day so in the midst of it one of my lots was closed.. there was no loss or profit on this tho..

Good luck going live, David and I wish you the best, we'll be watching.

You posted a question on your demo thread about what to do if your system says enter a trade and you are approaching some key levels which made you back off. Of course take care but if your system says take a trade then take it, thats why you have a system to follow its rules. You may of course need to protect yourself, perhaps a smaller stop or moving your stop to breakeven much quicker. In the end price ran and showed a nice profit!!

Best of luck from here.

Hi again, looking at the stop for the last trade aren't you selling?

My trend manager is still showing a buy on 4 hr chart and a sell on 1 hr. Are you still using the same system as per your original thread?

Hey Vantage,


Thanks for that, i needed a good reminder of what has truely been making me consistent profits. Even tho the market is always changing, i cannot digress from my strategy too far or it will hurt me.


I am only using the 4hr, do not go below unless im looking for somehting that looks like macD/RSI divergence on the 4hr but clearer on the 1hr. Too much noise for me, esp. for an indicator like trend manager. Looking at the 1hr w/ trend manager seems like it will get you in the trend early IF THERE IS A TREND, but at times when the market isnt moving fast or just sideways it looks like it will trap you in buys and sells that arnt "real" where you will be losing lots of small trades which will add up fast. I would rather stick to the 4hr and let myself miss out on the first say 20pips of the trend rather than battle through w/ sells and buys every hour. Plus the 4hr lets me wait for my alerts so i dont have to watch the screen all day.. even tho id have no problem doing that

So stop for the buy should be 9707 not 9807?

ahhh, your a genius

.. good way to start off the thread haha

correction made

Don't stress it, if your live trades are anything remotely close to the results on your demo thread I and many others will let you off with this typo slip.

Lets hope the UK trade numbers at 4.30 are in your favour, does this not worry you trading what could be important UK news which can upset any system?

Cheers

generally I will only completely avoid news releases if their are multiple. If their is just one coming out it depends on where my position is (if im positive, negative, how far pos., how far neg., close to target, trendline,etc.)

I try not to avoid the news completely as that is what moves the market the most

say if at 4:29 i was within 20pips of my target at +100pips profit then i would just come out, depending on how strong the news would be, etc.

Basically i use a great deal of discretion when news releases come into play.

Many traders like to avoid the gamble completely while others love it, its a question of how how risk averse/loving one is.

Moved stop to break even at 4:28am since news was comin out at 4:30am and at that time i was only about 7pips in profit so it was worth the risk of losing those 7pips on each lot.

News came out GBP negative so i was stopped out...

All in all i felt like i traded this perfectly, did exactly what my strategy tells me to do, followed the rules, used good discretion on the news release.

It was a nice feeling to see the market down 30pips and not have the emotion of fear that makes me want to close out early and take the loss! Because of this i was able to reach +30pips profit at one point after it was down 30pips (even though i didnt capture any of it).

my trend manager gave a sell on the 4 hr pound a few hours before the news came out. did yours not?

my internet has been going in and out, im on wireless

been through 3 routers this week!!!
(linksys is by far the best)

I think it has something to do w/ the virus scanning stuff on one of the computers on our home network.
Im going to call linksys today to see if they can figure it out.

It was probably a good thing since the short looked like it went the wrong way.. guess i got lucky this time.

I will probably invest in an ethernet cable long enough to reach upstairs cuz this can get dangerous when im in a trade

hey brxxt, i've been looking at trend manager strategy for about 5 months and it always looked great on backtest but never had the chance to forward live test it extensively, thats why i was so glad to see someone doing a journal with this as thier entries, and i always checked you out everytime u placed a trade and your trades always matched up with mine so thats great, u have given me a solid 3 months of proven results. my question to u is have u ever considered trading this on more than the pound? it looks great and alot of other pairs 4hour charts

Best of luck to you!

Hey,
I would love to try out another currency, but the way i trade is w/ 3 lots to lock in profits and keep my profits running. The essence of the indicator "Trend Manager" is just that.. to manage the trend, determine which way the trend is going, so i like to get in the trend and ride it to squeeze the most pips out of it.
I will only consider using it for another currency once i am able to use 3 lots on each currency (6 lots open at 1 time), while only risking a max of 3% of my full acct equity.
I currently dont have the funding, hopefully someday.

Lot1: +50pips

moved stoploss on lot2 and 3 to breakeven

Can you give your opening prices for the last trade as it looked like you had closed all positions just before yesterdays news.

In general I can't help think that cable is struggling to get above these levels - 1.9860+. I missed the bounce after the news from 1.9740, works rears its ugly head again. Hopefully we'll have a drop to give another buy chance - not thats what you want right now.

decided to close lots2 and 3 out:

Lot2: +88pips
Lot3: +85pips

Cumm. Pip Earnings: +223pips

Ticket#(S#) Currency Buy/Sell Units Open Close Currency P/L ConvRate Comm Rollover P/L OpenTime OpenDate CloseTime CloseDate Reason PL,


1184643 (0) GBPUSD Buy .1000 1.9783 1.9833 50.00 USD 1 .00 -.45 USD 49.55 USD 14:01:17 04/12/2007 21:31:41 04/12/2007 Asking


1184643 (1) GBPUSD Buy .1000 1.9783 1.9871 88.00 USD 1 .00 -.45 USD 87.55 USD 14:01:17 04/12/2007 07:29:30 04/13/2007 Asking


1184643 (2) GBPUSD Buy .1000 1.9783 1.9868 85.00 USD 1 .00 -.45 USD 84.55 USD 14:01:17 04/12/2007 07:32:56 04/13/2007 Asking