Tuesday, June 30, 2009

10% Account Growth in 40 minutes? Yup.

Ok, so its easy to do when you've got a 90.00 account I suppose, and you don't have to factor in the psychology of a 90,000 account, but still... growth is growth. Not to mention I reigned in my sizing to 2,000 rather than 3,000. So the profits are even smaller. I haven't posted in awhile since my last price action presentation and I wanted to share what i've been up to. I've been working feverishly on perfecting my price action indicator "Synergy". I've also been working on improving a couple of the setups to make them even higher odds, primarily focused on taking trades that can achieve a 2X target rather than just getting to par. The best part is I think I came up with some really cool stuff.

And I should get this out in the open right now - I am planning on launching a web site offering my indicator and method for sale within a few months. I know, i'm a douchebag right? The simple fact is this - I posted my webinar content a couple different places and got swamped with emails and messages wanting to know where they could get the indicator from and more information on the approach. I feel that there is a market for it, and i'm not going to charge what I feel is an outrageous price, but a reasonable amount even a cheap ass like myself has paid for other indicators before. I see no reason why I should feel guilty about trying to make a little profit off the work i've put into it. And before you honest and trustworthy followers mutiny on me - massive discounts if not outright giveaways to all of you who have been posting comments on this blog all along. You guys are the reason i'm still around and I see no reason why that shouldn't be rewarded with everything I have to give.

But lets get another thing crystal clear - I am a trader first and foremost now and always. My primary goal has been and continues to be becoming a consistently profitable trader. I can make exponentially more trading than I can selling a few indicators a month and I recognize this. Furthermore, i've no aspirations of helping others learn to trade if I myself am useless at it. But this has only forced me to step up my game even more. Yesterday I made a paltry 1.5% on my account - BUT it was growth via textbook trade setups. Today i'm up 10% so far. What I have spoken about before is becoming all the more apparent - this stuff works with my application and i've only just begun. Its too soon to pop champagne but i'm happy with what i'm seeing thus far. But enough boring life aspirations...

Three simple setups today, two winners, one par, +52 pips. The first was a GBP short off my new IB Fakeout Trend signal for +22, and then a long in the GBP off a Synergy setup on the double bottom it formed. The last was a inside bar reversal short in the EUR that got taken out at par. Simple.

*Edit* - Make that 15% by lunchtime!!! the GBP is being too easy this morning!!! Pinbar S at prior highs. Simple +20 pips. Net +73 thus far today.


Richard said...

Good job! You're validating the people's negative perception of indicators for sale by calling yourself a douchebag, though. Don't be ashamed of having a marketable product. What kind of trader would you be if you passed up a chance to make an easy, honest profit?

Be prepared to hear the word 'snake oil' a lot, but then laugh all the way to the bank. That's what I do.

How cool would it be if you could make enough off of your indicator sales to build up a solid FX trading stake, and then trade it til you're freaking rich? Good luck.

Matt said...

Thanks Richard - Apparently you're Richard from EOT? Lol... I never put that together.

Props to you folks - a real class act as far as i'm concerned. The best "indicators" out there. No snake oil in your stuff.

Richard said...

Yep, that's me.

Well, we try to do the best we can without becoming a big company. I don't want to ever hire a receptionist!