My Path To Financial Freedom

Hey Vantage,

yea im hoping for some good UK news, im going to move my stoploss to 10pips beneath the current price a minute before the news comes out, unless its close enough to my -60pip stop already.. lets hope not

How have your trades been going.. trend manager is just not working too well in the current market conditions.

I am reallly looking hard at the other strategy i mentioned, it really is like nothing ive come accross before. It consists of data, but the problem is im not sure what the most profitable way to use the data is yet, i have been trying lots of different ways to use it like lot sizes entries exits etc. I could definately use some help with it because it really has shown some spectacular results already.
If you are interested which u hopefully are send me at [email protected] and we can work on this together, 2 minds are always better than 1!!

What a question, sure.

Yeah trend manager is exactly what it says so if the particular currency is going sideways or erractic then its a problem.

It looks like the steep trendline is holding from 30 min chart so maybe the big dogs expect UK positive news???

The only problem I see with a 10 pip stop prior to news is if its big, bad and going against you price will gap down and you could get filled 20, 30 pips down.

Lets see I'm not in though but considering a straddle about 20 pips either side of price just before it breaks. If its positive one way or the other you're fine, its when things get choppy you get stopped out quickly.

Forgot to mention I've been recording my ventures into the forex world on www.forexfactory.com/showthread.php?t=25984 please drop in every now and then.

moved stop loss to 2.0034, 10 pips below current price level a minute before news came out
Lot1: -25pips
Lot2: -25pips
Lot3: -25pips

Cumm. Pip Earnings: -254pips

i have made some adjustments to my strategy to suit times like these where price action seems to be bouncing up and down/all over the place... which seem to be more often then not recently

Trend manager will not be my only entry strategy now, i will be using information to help guide me into better entries and exits, but still use trend manager to determine strengths of the trends, etc and possibly some signals

Looking foward to it.
Cheers all the best.

Buy GBP/USD @ 2.0010
SL: 1.9947
Target: Lot1: 50pips, Lot2: 100pips, Lot3: 100pips

Trade is lookin pretty bad pretty fast

I actually was really close to selling at 2.0050, but i didnt because i was waiting for it to get closer to the 2.0060 level first... that would of been a nice trade.. o well

there is strong support at the 1.9950-60 level so hopefully my trade wont hit its stop..


lookin at the trade after i went into it, i really dont know why i did..
there was a long term trendline break on the 4 hr chart, Trend manager gave me a sell signal around the 1.9980 something level, price bounced off a sell trendline right before the dip ... i need to catch up on lost sleep, rest is probably the only way to fix this bad streak

Even through all these losses, I was able to stick to my strategy and keep my initial stop losses where they were and not come out early from my trades when price was not going in the right direction... this may have burned me more, but I feel that i am still on the right track because i havent let my emotions get in the way of my trades, which is one of the most important factors involved in trading. So I can comfortably say it has been my indicators that are off NOT ME

Through these losses i feel like i have made some success!

Hit stop loss

Lot1: -60pips
Lot2: -60pips
Lot3: -60pips

Cumm. Pip Earnings: -434pips

Of course the one time i dont take the trend manager signal it actually works..

on to the next trade i guess

price bounced off major support line at around 1.9870 which was very close to the information for a heavy bid area..

i chose not to trade because im trying to stick with my original system using trend manager

the info for heavy offer level at 1.9945-50 hit resisted price perfectly on target

since the chart is kinda hard read, the white horizontal line on the right is the London open at 3am est. time.

the blues are heavy bid levels and the reds are heavy offers

Bid/offer levels very interesting, can you post levels earlier to be able to take advantage in live trades???? What time are they available if you can get before London open would be a great add to any system.

yea what ill do is try to post them as soon as i set up my charts, the information video comes out at 3am, sometimes up to 10 mins after, ill try to get it on here ASAP

just days like today, i have to wake up at 8am for my 9am class, dont finish till 2 30pm so i need a good amount of rest its hard waking up every half hour when my signals go off then trying to go to a full day of classes especially while trying to go to the gym everyday
IM MOVING BACK TO LONDON lol so i can trade during the day in my classes

good setup just hit

4 levels of resistance at 2.000
1. 2.000 is a very significant level
2. the support trendline that began 4/16/07 that was breached yesterday has now turned into support perfectly at 2.000
3. the highest heavy offer level of today is 2.0000-2.0010 (predicted high basically)
4. Fib. 50% level perfectly at 2.0000!!

GDP news coming out in an hour
Id definitely be closing all my lots if i went in at 1.9875

i just have to post.. looking at this setup for the could have been trade, i dont think trading gets more picture perfect than this...

news came out GBP positive

price went up, but seeing strong resistance at about 2.0040 from:
1. 61.8% fib line
2. support trendline starting 4/13/07 that was recently breached, now has becomes support
3. resistance trendline starting 4/17/07

when u mentioned that the video comes out at 3 a.m. it confirmed my suscpicion that u are listening to rob and felixs videos. (am i correct?) do u subscribe to any of the paid services? if so, which ones and what are your experiances?

yes it is rob and felix, i dont pay for any of their services although they do seem to bring in a good amount of profit.. i dont agree with paying for signals and all ive heard about trading news is brokers screwing you

But their videos are great info

im actually going to be changing my strategy accordingly to the videos for the next couple weeks, i have backtested my strategy using the info and it has shown to be very profitable

We'll be seeing you just after 9am then!!!
Cheers.

looks like his site is having some issues..

i have been trying to watch the videos for the past like week to do more backtesting and they are not working, only the ones far back

now the one just came out about 10 mins ago for todays levels and its not working also, i emailed felix, hopefully they can fix this soon

Dear Brxxt, sorry for my bad english (but I'm Italian). I suggest you (like said on the site where you donloaded trend manager) that you'll use trend manager as an helping signal and not only rely completely on it to enter. You have to couple it with another trading system (I suggest to use it with a simple trading system like emas crossover and simply a pair of indicators like RSI and macd). Regarding simple trading system I think that one of the best is Bagovino's one. You can find it simply searching on the forum.
Then you couple for example Bagovino method with trend manager.
I think this is the best way to use it.
Sorry for my intrusion in this thread. I hope it could be helpfull because of I appreciate the fact that you write an interesting trading diary and especially because of you share with us your learnings on the path to financial freedom.