Good Morning Journal!
Good Morning Mike.
Long time no see.
I’m good Journal, thanks.
I guess I’ll talk now.
See, I was gonna wait some more time, to see this thing play out. But, the more I see it, and experience it, my new system, the more I’m convinced. This is gonna work. I’m just tired of coming on here and thinking I finally got it.
Look. This is not going to surprise you, from all of what I’ve been coming up with. Well, one aspect of it definitely will. But, from the beginning, and still, I feel it in the core of me.
Yeah, I know Journal. Here we go again.
Well, maybe this will be the absolute last time I change any fundamental parts of this.
This is me…to the T.
Hold on to your pants.
Let’s see. How should I put it. Well, a lot of this has been articulated before. But with one super big twist. Trust me, I have heard of no one who does this. Then again…I’m not just anyone either.
That’s how we like it, Mike.
What do you got?
Plain and simple. My system is the Master Gunners Methodology ( I guess it’s not all that original).
- DAILY TIME FRAMES
I absolutely do not look at anything lower. Or higher also.
- WHEN (IN)
My target area to get in is at my 5/9 crossover place. As close as possible. No more than a day away from it. Sure it’s tricky. But, that’s the plan. You should know that I have worked on that for some time now.
- WHEN (OUT)
Same thing. Crossover.
Now, before I tell you the kicker, you should know by now that my 5/9 ema lines tell me everything I need to know about a trend. When it starts. When it ends. Now. In that context, this is what I realized. That there is no such thing as a RANGING condition.
If something has trended, then consolidates, well, it’s still technically trending, to me. When the lines cross back over, it’s then, that it changes trend. I’m fully aware of the fact that the ranging condition can go on for some time. Then someone would be technically be correct that it’s ranging. But, I will count that as still trending in the way that it was, previously. So, in my book, it will be trending one way or the other. Plain and simple.
But, the thing that extremely impresses me about Master Gunners Methodology is about how there’s diversification involved when you are in multiple pairs. Well, the more and more I thought about it, this is the only thing that makes sense to me. Given the fact that I just mentioned, that the pairs are only trending one way or the other, no other possibility. (Plus, you should know by now that I go one way or the other.)
Yep. I said it.
All 28 pairs. And you know what? IT WORKS. There’s so many benefits to this. Now, tell me, do you thing I will ever be one to say, "Man…I wish I would have picked this pair, cause it’s taking off!" Nope. Cause I will be in it. And the chances are greater that it would have been on the slope of trending that particular way, than the trend for the other way. I know about those consolidating wedge flags. The more tightly they consolidate, the greater the boost will be. Well, ok. I have one day of a cushion to be in on that one.
See, I’m tired of the whole guessing game of who, and when, those pairs that will take off for days at a time. All I need to do is position myself correctly. Which is way more easier to do than by being lucky.
And what keeps me afloat, more than anything, is being diversified. Look. I must keep track of everyone. It pretty much comes down to who I’m heavy with, and who I’m heavy against. But, when you see it across the board, you definitely get the clues when things are beginning to change.
I remember when it started, only last week. First of Oct. The beginning of the last quarter for the year. So, I got this whole quarter to tell me the results. But, and I knew this was going to be the case, it was going to take some time to adjust to where I want to be in with everyone. On the first of the month, I did get in with all 28 pairs. Whoever was trending. Sure, there was a lot who was trending late in their cycles. But, it did give me the sense of diversification. But of course, I had to make changes at the end of a day, throughout the week. My account was not all over the place. And I can tell when I made the proper moves.
I remember being long with the CAD. All seven pairs. Yeah, that was a good run. But, it didn’t last too long. Because they were late in their trend cycle. Ok. So, I switched, going the other way. On some of them. Oh, the CHF. Man, they became real weak. And still. Oh, and the Commodity pairs were strong, at the time. But, we all know how they dove. So, yeah, I just have gone the other way on them.
I guess one point here is that I definitely know the strengths and weaknesses that are present. Across the board. Well, I have to keep track of them all. It’s all symmetry. Someone will be trending 7-0. And it goes down from there. 6-1. 5-2. 4-3. Etc…
Whoever has their 5 ema line above their 9 ema line, is trending high. It’s a no brainer. The strongest currency will be trending high in conjunction to every other currency. Likewise with the weakest currency, trending against. Well, the point here is that I deem this to be the best way to determine what a trend is. Everyone has their own method. And I’m sure there are a thousand different ways to determine what the trend is.
Man, I even remember Clint giving a big speech on Master Gunners thread about how important it is to find your way of determining what the trend is. This is mine. And I trust it. I trust this more than I trust anything else. Have for quite some time now.
- POSITION SIZING
Well, Master Gunner used a very good way. He went with whatever account size you have, you went with that amount of a lot size. Example, if you had, say, $300,000 of an account balance. You went in with 300,000 units. If you have a $1000.00 account balance, well then, you go in with 1,000 units.
I remember it was only a couple hours before the opening bell, Sunday 5pm here. Oct 1st. I took the dog for a walk. Was alone. And it hit me pretty hard that I shouldn’t go in with that much. There is a reason (talk about that in a little bit). But, I decided to go only half of that. That would’ve been way too much for me to handle. In regards to the whole account amount, I think it’s good. That’s the dollar amount to the unit amount. But, I have something else to worry about. And I know that I made a good move, by only going in with half of the amount of my account dollars for the units to get in with, on each pair.
Look. I don’t want to be on here all day. I’m gonna have to make this short. But, since I found out that my unemployment decision very well could take very so much longer, like to the end of the year, I made a big move. Since, I’ve been getting paid, from them, ever since July 1st, and know that I will have to pay them back if they decline it, that I was not going to let that money just collect in my bank account. See, one hand doesn’t know what the other is doing. The system gives it to you before the final decision gets made.
Well, I put that money to good use. I put it into my trading account. $4,500. So far. But, don’t forget that I already had $500. in my trading account. Basically, I’m playing with 5k now. But the thing is, I can’t lose more than my original 500. Cause, if by chance they want their money back, I need to be prepared to dish it out. Well, I’m not getting any younger, waiting around for them to decide. The last call I made to them, the lady said it could take a very long time. They have to deal with everybody in the state.
Well, talked to Trish about it, and she agrees that I should do what I want to do. And that’s the reason why I’m not going in with a size that matches my account balance. Sure, 500 dollars is nothing when you have a balance of 5k. And plus, I’m just not going to risk a whole lot. If this system is going to work, I need to experience it first.
Let’s see. I only have numbers for the first week, and consequently, for the month.
How’s 4.4% increase sound?
Pretty dog-gone good to me.
Man, I couldn’t imagine what it would be like if I went in with whole units for account dollars. But look, I’m in 28 pairs. One pair would be 5,000 units. That’s around 44 cents a pip. So that will be around $12.32 for every one pip, for all of the pips, in every pair, that takes place. I don’t know, for some reason, I think that’s a little too high for me. Given the fact that I can’t go below 4,500 threshold on my account balance. You know?
By the way, I plan on subsidizing my account, from everything I get from them. I think I counted that it should come out to around 8k, by the end of the year.
But, it is leverage for me to use, to boost up my account, till the end of the year. And if they come knocking, well, then I’ll take it out. And we’ll see how I look at years end. Then again, if they accept it, well then, I’m in absolute great shape! Cause it will be all my money. All of it.
Trish says that she can take us to the end of the year. But, not after that. So, it will be interesting to see how I look at the end.
Ok Journal. I’m done talking.
Well, one more thing.
I have decided that my only course of action, is to get my own business. I have decided that I don’t want to work for anyone, anymore. So, all my efforts will go to that. Somehow, someway, that is what I’m shooting for. Naturally, it’s this business, that I’ve been working on. Just today, I signed up for a day long class, next week. Downtown Pgh. It’s this program that helps veterans. Called Boots for Business. Basically, it’s a program to help veterans, in regards to starting your own business. Many resources. This is an introduction to entrepreneurship. Well, we all know what I have in mind. I will have to see what kind of help I can get from this.
I kind of feel bad that I served so long ago, and not really in wartime. I mean, who am I? No one special. But, technically, yeah, 6yr veteran. So, I do qualify. But, I do have it in mind that before the year ends, I want an official business. Like, registered and legit. On the books. This is what I want. I just hope that it will become a legitimate one. See, making money is one thing. Making a business is another. I want a business. I’m tired of the master/slave relationship. Reminds me of the profile that I set up for me, on their website. On the ‘More about yourself’ part, I put…I want to control my own destiny. I want my own business.