The Forex Portfolio - How to Gain Consistent Profits by Staying in the Market 24/7

Ok NZDCAD is hitting an, albeit, imaginary resistance line (.8500 and top of channel)…but heck it’s like 170+ pips!..and not just it but the other one is @ +150! I’m think I’m going to hyperventilate! You’ve probably seen this a lot and even though it’s not saying it’s reversing, it seems to be due for some kind of retrace …hard to hold out!

I read some book that Dale once recommended. I think it was by the guy that created the RSI.

From a psychological standpoint, I’ve read countless books on the topic to further my career path. Nothing specific to Forex.

I don’t trade that unfortunately. Don’t even have the feed on my demo, and I don’t think.

I prefer to keep my risk spread out across the market and not centered on one pair. The inherent nature of hedging when the market turns and compounding when it’s in your favor disappears if you speculate and concentrate more risk on one pair.

Early on. I recall pulling out of a yen trade when it was 300 pips profit. It went on another 200 pips without me and I pulled out what was left of my hair in frustration.

For me, from a psychological standpoint, I would rather wait for the move to complete and pull out to late than to pull out too early and watch price keep rolling without me.

My largest close this year is a tad over 980 pips. No way I could have ever gotten there if I pulled out too soon.

Focus on your overall equity and view all your trades as a whole. Yes, the decisions made must be individual, but when you focus on a larger picture you are less emotional about the individual pairs. I don’t notice when a pair backs down too much. I just see my equity move up and down. I however as long as it’s more than my net balance I know I’ll be okay in the long run. Thus far this year, and we are close to 100 trades now, my equity has not fell lower than my account balance.

That is how you maintain consistent profitability.

Hello MG, I’ve been reading your thread and was wondering;

Suppose I was looking at NZD/USD tonight for the first time and saw it was say a bullish candle sitting high above everything after a long bullish run. would you consider placing a long at the break of the candle or would you wait for any kind of pull-back to get in?

Sorry if this has been covered, but I havn’t seen it.

I would wait for an opportunity to increase my potential, so I would wait for a retrace.

I’ve been using freestockcharts dot com, and really like the layout, however, I can’t see all 28 pairs on that one.

I surmise you’re primarily a mobile trader, and saw you use tradeinterceptor on your phone(which I’ve started playing with also).

Is that what you’d use also for trading from your PC? I prefer trading from there.

Hey gang,

I haven’t had a chance to read any posts since last night; wanted to do a quick analysis and post results before running off to an appointment – and will get myself up-to-date with the thread this evening.

Here are my present results (Longs and Shorts) employing the [B]MasterGunner99 Methodology®[/B] (MG99M) with a $20,000 initial balance Demo Account beginning Sun 2/10 (I even did the math this time; although it looks more complicated than simply subtracting entry from current price … on my platform, TradeStation, this is the easiest way – by starting with each pair’s current $ position and then deducing the # of pips):

AUDNZD (Short) +$178 / $1.70/micro-lot-pip /2-micro-lots = +006 pips
AUDUSD (Long ) +$030 / $2.40/micro-lot-pip /2-micro-lots = +006 pips
EURGBP (Short) -$032 / $3.10/micro-lot-pip /2-micro-lots = -005 pips
EURNZD (Short) +$330 / $1.53/micro-lot-pip /2-micro-lots = +108 pips
GBPAUD (Short) +$412 / $1.04/micro-lot-pip /2-micro-lots = +198 pips
GBPCAD (Short) +$270 / $1.80/micro-lot-pip /2-micro-lots = +075 pips
GBPCHF (Short) +$004 / $0.43/micro-lot-pip /2-micro-lots = +005 pips
GBPNZD (Short) +$820 / $0.85/micro-lot-pip /2-micro-lots = +482 pips
GBPUSD (Short) +$052 / $1.20/micro-lot-pip /2-micro-lots = +022 pips
NZDCAD (Long ) +$172 / $2.00/micro-lot-pip /2-micro-lots = +043 pips
NZDUSD (Long ) +$152 / $2.80/micro-lot-pip /2-micro-lots = +027 pips

Approx. New Equity = $2460; Approx. # of open pips = +967; # of closed pips = -100

Today, 2/14, went Long (22,460 units) NZDCHF @ 0.7858

[I don’t understand why the pairs with USD counter-currencies aren’t $2.00/pip given that their initial position sizes were 20,000 units each – is it some rollover rate factor? Notice that NZDCAD is $2.00/pip, which makes sense given the virtual parity between the USD and CAD …]

Since the beginning of this year, I’ve traded solely on my phone. Yesterday, I was at the car dealer. They were checking on a leaky tire I had. 4pm rolled along and I grabbed a pen and a Sports Illiustrated and wrote down my orders on the back page over some advertisement. Then entered them on Oanda’s mobile app.

Not the classiest way to trade, but I’ll take it!

Nice, guess I’ll adjust and go mobile myself. Trading on the run is certainly a big plus to doing what you want in life - that’s the point of trading, right?

Sstrnod, you’re doing awesome, now don’t change anything lol!

I got in the green yesterday and am looking forward to staying there as well.

Nice work. Can’t wait for more people to start embracing this and showing their results.

Thanks for the tip on NZDCHF. I went long as well. I overlooked it on my analysis by mistake. I scroll to fast sometimes.

That is looking to be a strong bull run. Let’s see how the week ends up.

I got you beat me little in pips. Up 1422 pips in open trades. My equity is back on the rise. My balance took a 5% hit for the week. Sitting at 39.33% for the year.

Nice! Great start.

I’ll be sure to post exit strategies for sure this weekend.

Good observation, Pippatron. I was aware of the GBP weakness helping me out, but missed the NZD strength – which certainly explains why the GBPNZD short makes up about 1/3 of my positive pips/equity.

I wasn’t sure how to answer your question – so I’m glad MasterGunner did. What he said makes sense to me.

LOL. Yeah, the daily BabyPips newsletter I get seems near-rapturous when reporting that some member has “bagged” a whole 30 or 40 pips …


Beautiful, fortnight. Congratulations!

Thanks. This is a completely new perspective for me, like being a “portfolio manager” and primarily focusing on the bottom line – or, in our case, the open equity. And congratulations on your performance, and many thanks for your efforts in this thread!

Yeah, that NZDCHF is encountering a little resistance right now – at the same level as the prior swing high – but I believe it’s rather unlikely to be held and get pushed back so far like it did then (with six pin-bars throughout an eight-day period).

Looking forward to your insights into managing trade exits; have an enjoyable weekend regardless, and don’t forget to keep up the (new weekly?) tradition of posting a celebratory “MasterGunner was here (with some beautiful thing)” photo from your mobile … :wink:

Hi All,

Just getting in the flow of all this, here’s one of my watch lists. AUD/CAD Short

Just waiting for price to give me a clue as to whether it is a short or not. Am I on the right path or just kidding myself?

Well waiting for price to show you which way it’s going is on the right path. For me actually I’m long so I hope it wont…lol, but only because I saw a couple of other AUD pairs that gave me more reason to go long. However one reason not to go short is that you’ll pay interest and if you hold few days, that can start costing. I don’t know if that matters to MG or not.