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Name:
Lance
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Bio:
I am a technically oriented person. Not technical in the chart way (well that too) but technical in the engineering/tradesman type of way.
I started out as a fitter and turner, then I moved on to tool & die making. I made blow moulding tools, injection moulding tools and mostly metal pressing tools.
Then I moved on from that from repairing and enhancing my own machinery, into designing and manufacturing machines.
What kind of machines, people like to ask. Simple. If you can imagine it, I can make it. I have made machines that pack, machines that cut, machines that polish, machines that thread... etc. I have also made and invented unique tools, for example a self adjusting high torque shifting spanner to cageless CV joints to High Pressure Valves.
And how did I get into Forex.
Well it is (as are all things really) quite a long story, but it all started somewhere around 1987 when a sales rep arrived trying to sell a system he had that dealt with trading on the stock exchange.
It was interesting to me, and I bought the package and after learning what I could from it, never looked at it again.
Then came the WWW... then came MT4 and the rest is history.
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Trading Style:
My trading style is I am pretty certain totally unique. In a very strange kind of way, the fact that I will try anything and everything several times to make sure I extracted every ounce of info, knowledge and use out of it makes me having no set style my style.
I care not if I make 4 pips from a quick scalp or hit a retrace after a News spike. Or even better, when the ( what I like to call Clone Pairs and Mirror Pairs ) diverge, then I hit the retrace on their cross currencies.
My favourite one is GbpUsd. How I found this idea was by accident. I was in a long position (before I knew about News) with AudUsd, and suddenly it dropped like a stone.
So my usual response was to hedge with GbpUsd since it usually moves more pips than AudUsd and I could hedge to at least break even or make a small loss.
Strangely enough I ended up in DEEP trouble.
Gbp (for some reason the Gremlins did) was going opposite to AudUsd! instead of same direction as usually happens. My clone became a mirror!
So I desperately searched through as many other pairs as quickly as I could to find one that was moving more pips than GbpUsd or else I was going to lose bigtime. That was when I saw GbpAud was moving WAY out of proportion compared to anything else. It was moving about 20 pips to 1 pip of AudUsd and 3 pips of GbpUsd.
So I cut my losses on the AudUsd, and plowed it into GbpAud, recovering about 60% of what I lost on AudUsd AND more importantly, stopping the margin call from hitting GbpUsd.
Then I caught GbpAud back on the retrace and actually made a small profit on what at the time appeared to be a no win situation.
So now everytime there is News, I always hope that the correlated pairs diverge.
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Motto:
""Whatever you focus your attention on, your consciousness becomes." - Lex Lungold."
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Experience:
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1-3 Years
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| Registered: |
Nov 18 2009 at 16:45 |
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