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BlueMental trader's profile

Lance
BlueMental

Info

Name Lance

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.

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.

Motto:
"Whatever you focus your attention on, your consciousness becomes." - Lex Lungold.

Experience 1-3 years

Location za

Vouchers 0

Registered Nov 18 2009 at 16:45

Blocked users 0
The user hasn't posted yet.

Chart

Systems by BlueMental

Name Gain Drawdown Pips Trading Leverage Type
Contest - BlueMental -82.59% 82.59% -320.9 - 1:200 Demo
Contest - BlueMental -58.99% 60.49% -200.1 - 1:100 Demo
Contest - BlueMental -99.90% 99.91% -750.5 - 1:400 Demo

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