No didnt mean anything is be th last person that condescends someone else’s trading lol. Maybe when I’m a bad A myself :-D. I just knew the dollar did well and you put a sad face lol.
Hmm don’t be in a hurry to open those trades though or there will be more pain. Focus on only taking the trades where your bias is strongest and the runners will naturally build up over time. That’s what I’m attempting to do in my spin-off thread.
Hi All, here’s my update:
The two trades I opened yesterday, now closed, reviewing pa. I know I’m chicken, but I don’t mind some drawdown initially but those pin bars look a little aggressive for me. I am a firm believer in cutting your losses short and let the winners roll!
No trades look enticing enough for me today though.
I’ve included a portfolio increase/decrease which will show the true gains/losses as I progress.
USD/CAD has shot too far north for my liking, awaiting retracement before I bite!
Like you I have set stop orders:
GBP/USD 1.5343
GBP/CHF 1.4202
Good Luck bud.
Hey what do you mean, coming over here polluting the place with your ICT COT muck!!. This is a respectable establishment lol.
Just kidding, welcome, look forward to your input.
I think the market is becoming increasingly aggressive in stop-hunting these days, probably due to the increasing popularity of forex among retail traders and the use of stops.
anyway here’s my portfolio 
Ok guys here’s my way of going about this and thoughts.
Awesome idea very newbie friendly. Trading long term and having that outlook greatly increases your chance of success in my limited 7 months of experience opinion. Not only will this swing the probabilities in your favor in position trades, it will also help your day trading. If you’re short the EUR/USD thats gonna stick in your mind a little when you go to take your day trades. It’s also a lot less stressful for me. Don’t have to pay as much attention to the charts and little swings and dips don’t get your heart racing as much. MG99 thank you for posting this thread and methodology my only complaint is it should be in the newbie island :D. I was looking and thinking about long term trading a little before you posted as well as my overall forex strategy. But I was looking to swing for the fences instead of trying for base hits. Now I think I’ll combine your money management plan and goal of being in the market on as many pairs as you can with my entry criteria. A match made in heaven. Four base hits is a run afterall.
The Plan.
Bias:
[ul]
[li]COT Report
[/li][/ul]
[ul]
[li]Market Structure/Market Flow
[/li][/ul]
[ul]
[li]Seasonal Tendencies
[/li][/ul]
[ul]
[li]Support and Resistance
[/li][/ul]
The main thing I will be looking at is COT and MS/MF
Entry:
[ul]
[li]If my bias is bullish I will enter long when a new swing low is formed
[/li][/ul]
[ul]
[li]If my bias is bearish I will enter short when a new swing high is formed
[/li][/ul]
EXIT:
[ul]
[li]I will close partial position at certain support or resistance levels I see as significant.
[/li][/ul]
[ul]
[li]I will exit the trade completely when if I either get stopped out or reverse my bias.
[/li][/ul]
Money Management:
[ul]
[li]Each position will be entered with the number of units equaling the actual equity in my account(unrealized gains or losses are not counted)
[/li][/ul]
[ul]
[li]SL will be set to the previous swing counter to my bias. Ie if I’m long SL will be set to the swing low before entry.
[/li][/ul]
Currency Bias:
AUD: Short
EUR: Short
GBP: Short
USD: Long
JPY: ???
CAD: Short
CHF: Short
NZD: Long
Right now I’m only trading /USD pairs. I’m looking into trading the crosses but I’m not sure how to fit COT into that yet. I’m thinking of only trading crosses that are opposite’s like NZD is long and AUD is short. So that would be ok to trade. But I’ll have to look into it more.
The Yen is a tricky one right now. I’m very scared to trade it right now. It looks bearish but it’s out of sync with the COT and I’m late to the party which isnt bad but after that roaring fall everyone and their mom, neighbor, and dog are licking their lips. So in my opinion it’s better to stay out if you aren’t already in until things are more clear.
Here is a trade I took earlier today. Short the AUD/USD.
http://img.photobucket.com/albums/v290/j4r3n/audusdtrade219_zps9f50a17c.jpg
Also looking back at this trade I’m thinking about looking for an entry when the Intermediate Term Swings are broken.
I did jump the guna bit and I’m in the EUR/USD short and USD/CAD long(both in profit). This was before I sat down to write this out and I just wanted to get in lol(I’m bad about that). I have had some counter plan thoughts. Such as entering on when the swing is confirmed looks like you would suffer some draw down as it retraces. We’ll see.
This shouldn’t take long at all to determine bias and entries. Depending on how many pairs I trade. I’m thinking maybe an hour on the weekends determining bias, and a few minutes at the end of the day to see if a swing has been made.
Anyway guys there you go. Ill keep you updated on the trades as I take them.
A quick up-date on my demo portfolio. I’m down from 23 to 22 positions, closed my AUD/CAD short for a 50 pip loss. We had a daily close above the previous week’s high so I kicked it out.
Here’s this morning’s approximate pip count as of 6:00am EST.
+1730 pips -620 pips for a net of 1110 pips. At 25 cents per pip (2500 units) it works out to a 05.5% gain on the 5K account. (maybe I should have stuck with the original position size of 50 cents per pip?)
I’m getting my teeth kicked with all my NZD trades, around 475 of the 620 pip loss is NZD related. :56:
At this point I don’t know how to describe what I’m witnessing with such a diversified portfolio other than to say it’s like WOW 3-D versus blah 2-D.
Here are the positions
AUDCAD – sell closed –50 pips
AUDCHF - sell
AUDJPY - sell
AUDNZD - sell
AUDUSD - sell
CADJPY - sell
CHFJPY - sell
EURAUD - sell
EURCAD - sell
EURGBP - sell
EURJPY - sell
EURNZD - sell
EURUSD - sell
GBPAUD - sell
GBPCAD - sell
GBPJPY - wait
GBPNZD - sell
GBPUSD - sell
NZDCHF - buy
NZDJPY - buy
NZDUSD - buy
USDCAD - buy
USDCHF - buy
USDJPY – buy
Yeah I got beat up on NZD as well. It’ll happen. We are holding out for the trends and hedging the bumps along the way.
Hi D-pip,
it’s funny how most of your biases are opposite to mine with yours being based off the weekly and mine off the daily TF.
I can see most weekly price is at reasonable retracement areas, which corresponds with the daily moves in the opposite way. Of course as time goes by and the weekly TF comes through, the daily will catch up at some point. Maybe we should be basing ours on the weekly also. Just a thought.
That’s funny, I was in the head this morning taking a dump thinking maybe I should switch from the weeklies to the dailies.
Ahhh, where all great thinking is done… Haha! Who needs an office when we all know we do our real work on the toilet?!
Hmm, you guys are getting pretty impressive results doing this 
I’m going to run some analysis shortly looking at trades that immediately reversed and seeing if there is anything that stands out to optimize the placing of a stop loss.
hey guys,
just want to say great thread MG !!! love how it sets you away from the screen not worrying to predict every little move keeping it simple and naked !!!
i have been following it for a while and decided to join and follow you,contribute and ask questions!!
keep it up guys,and good trading
With all the craziness going on, I stopped out on some trades yesterday, and only have one open. As things are a little wonky and unintuitive for my style today, I’ve decided the best thing to do right now is not trade till things straighten out.
Not trading when you’re unsure is still a position! I’m a newb, but it makes sense that “trading just to trade” can be the death of many a trader’s account and psyche.
This is a trend following system. When there is no defined trend and things are choppy, it can get a bit goofy. But the pairs will generally hedge each other off from significant loss. When a strong trend is on the rise, you’ll already be in a position to take advantage of it while the losers continue to fall off.
Dumps or timeframes? ha.
Following are DEMO Trading results thus far, beginning Feb 10 – using my own interpretation/understanding of the [B]MasterGunner99 Methodology®[/B] (MG99M) – with an initial Account balance = $20,000:
[U]CLOSED Trades (04):[/U]
AUDUSD (Short 20,000 @ 1.0248) -0100 pips {01 days -> Feb 13}
AUDUSD (_Long 20,000 @ 1.0348) -0121 pips {08 days -> Feb 21}
NZDUSD (_Long 20,000 @ 0.8438) -0121 pips {08 days -> Feb 21}
EURGBP (_Long 20,000 @ 0.8631) +0031 pips {08 days -> Feb 21}
CLOSED Equity = $19,400; Total -0311 pips
[U]OPEN Trades (14):[/U]
GBPUSD (Short 20,000 @ 1.5521) +0271 pips {07 days, StopLoss}
USDCAD (_Long 21,900 @ 1.0186) -0002 pips {00 days}
EURCHF (_Long 21,100 @ 1.2337) -0059 pips {02 days, StopLoss}
EURCAD (_Long 22,100 @ 1.3569) -0136 pips {01 days, StopLoss}
EURNZD (Short 20,000 @ 1.5886) +0075 pips {07 days, StopLoss}
GBPAUD (Short 20,000 @ 1.5154) +0273 pips {08 days, StopLoss}
GBPCHF (Short 20,000 @ 1.4279) +0082 pips {08 days, StopLoss}
GBPCAD (Short 20,000 @ 1.5648) +0115 pips {08 days, StopLoss}
GBPNZD (Short 20,000 @ 1.8685) +0402 pips {09 days, StopLoss}
AUDCAD (_Long 21,100 @ 1.0418) +0018 pips {02 days}
AUDNZD (Short 20,000 @ 1.2271) -0012 pips {09 days, StopLoss}
CADCHF (Short 21,100 @ 0.9117) -0021 pips {02 days}
NZDCHF (_Long 22,460 @ 0.7858) -0096 pips {06 days, StopLoss}
NZDCAD (_Long 20,000 @ 0.8434) +0059 pips {09 days, StopLoss}
OPEN Equity = $ 1,600; Total +0969 pips
_Total Equity = $21,000 (105% of account)
[U]Existing GTC StopLoss orders outstanding:[/U]
GBPUSD (__Buy 20,000 @ 1.5286) [StopLoss] {01 days}
EURCHF (_Sell 21,100 @ 1.2259) [StopLoss] {00 days}
EURCAD (_Sell 22,100 @ 1.3408) [StopLoss] {00 days}
EURNZD (__Buy 20,000 @ 1.5937) [StopLoss] {01 days}
GBPAUD (__Buy 20,000 @ 1.4922) [StopLoss] {01 days}
GBPCHF (__Buy 20,000 @ 1.4243) [StopLoss] {00 days}
GBPCAD (__Buy 20,000 @ 1.5574) [StopLoss] {00 days}
GBPNZD (__Buy 20,000 @ 1.8345) [StopLoss] {01 days}
AUDNZD (__Buy 20,000 @ 1.2305) [StopLoss] {01 days}
NZDCHF (_Sell 22,460 @ 0.7722) [StopLoss] {01 days}
NZDCAD (_Sell 20,000 @ 0.8466) [StopLoss] {01 days}
[U]STOP DAY orders placed in Feb 22 session:[/U]
None
OK so test run the system for the first time today, and I can honestly say that my eyes have been opened! Why the bejeezuz was I trading only a few of the main pairs? and one at a time? today I took my first shots with multiple trades - up to 10 at the same time at one point. Got 150 pips out of eur/jpy, got 60 pips out of eur/usd; 30 out of usd/chf! and cut off the bad trades as the day progressed, was fairly brutal with that - didn’t tolerate any slackers! Used various position sizes which on reflection perhaps not the best idea. It’s probably better to put the same on each trade as you never know which one is gonna give you the big hauls I would think.
This system seems to have many advantages over one-trade-at-a-time: Less pressure to get it right with a single solitary trade, much more economical use of time and money - it’s in the bank, might as well put it to work! faster profits! It’s much more fun and easy to trade like this it seems, but it’s early days yet, but so far so good - almost too good to be true - I’m worried!
Absolutely top stuff - I’ve never had 8 trades on at the same time all going in the right direction!!
I swear to the Gods I will never ever try to pick tops and bottoms ever again! Why did I ever do that?
I raise my glass to you MG99!
Cheers!
:39: