Forex Signal Mentor

Hi all,

Day 1 - 12th October 2009 and I've just purchased the forex signal mentor videos from Loz. Currently downloading them and there are plenty of them to download.

Right - my reason for getting onboard with Forex is not to make millions upon millions of dollars (which would be nice, and that's for the long term ) but to make enough money from the Forex trading platform that I can comfortably pay for a lavish wedding I have planned for next summer 2010.

So I am publically announcing that I am going to stick with this for as long as it takes (hopefully not too long and definately before next July!) till I can start making some serious money on the Forex system, with Loz's help of course. I hope this will show the others out there who are not too sure about forex, that this "ForexSignalMentor" product is all you need to start winning on currency exchange.


I also feel it is just to mention that I have absolutely NO experience in Foreign exchange only when I go on holidays of course, but no FOREX experience whatsoever.


So, this is Day1 and I hope to update this page regularly. Maybe day by day or each week, but if it's working for me then I want to let you know!

To your (and my) success

Kevin

Day 1 - Looking at 3 blind mice.

At first viewing of this video it started to put a few things in perspective for me.

I was able to follow Loz's advice and look back throughout the timeline and spot where "3bm" was in effect, and to see what trends were appearing.

On my first attempt at a Buy Stop the trend dipped, then rose to 11 profit, then dipped again. I immediately skyped Loz to see what I did wrong, and it turns out my "3bm" candles are way too short to be of any significance.

So, lesson 1 there tells me that a) look for similar sized BEAR candles followed by a confirmation of a BULL candle.

The red arrow in my diagram shows the 3bm indicator I chose. These are too small.



Loz, anything I missed?

Other members - did you find anything else to share?

Thanks,

Kevin

A confirming Bull candle must past the high of the last Bear candle

So from looking at the screenshot above, would that BULL be classed as above, or do I need to look at the MUCH SMALLER candle in between the bear and bull?

I just realised - the question I asked was pointless as the bear candles were useless in this exercise.

Ok, so I've been practicing what I've learnt in the first two videos, namely video number 7 and video 8 and whilst I am not using real money, I have actually been making good gains.

So far today I have put up an extra 1000 "dollars" into my virtual account from looking at these two techniques.

I've mainly been working on a fast game, i.e. working on a 1minute scale and watching how it goes, but switch between one minute and 30 mins.

I've made sure most importantly that I am putting in my stop losses. loz makes clear how important this is, and forgetting to put a stop in might just wipe out any "real" money profits I could have had there. Practicing on the demo account really is helping me build up my knowledge and hone in on my skills.
Even now I am tempted to jump in with real money seeing as I believe I am making already. But I must hold back - learn first and then the money will come... Learn first and then the money will come...

Day 3

Ok only been up a half hour but immediately logged into the FX platform to see if there was anything happening.

Straight away I spotted two opportunities both with Hammers on the up for usdchf and usdcad pairs.

As I'm only trading a dummy account with 100 "dollars" I made a virtual profit of 9.13 and 1.16 in 13 mins.

BTW In my previous posts I had a 1000 dollar dummy account but then decided to change it to a much more realistic value of 100 dollars... and because of that I opened another new account for 100 dollars. This is a dummy account and not real money.

Let's see what else happens today.

Day 4

Didnt spend a lot of time on the charts today unforunately. Meetings etc kept me away from the charts. But that didnt stop me trading.

Early morning started off with a usdchf buy when I spotted a trend had formed - and as predicted it played out just like reading from a script!

A series of successful buy and sell trades ensued for a number of hours throughout today and I am proud to say that I had successfully closed 12 profitable trades in a row.

I'm still on the demo account, but I'm thinking of it like real money.


http://digg.com/u1EKIY

Monday 19th October 2009

Today I experimented a little bit with the pending orders option on Metatrader platform. Unfortunately I dont fully understand it and have made a couple of bad trades. Oh well. It's a demo account so not real money, but I sure as heck am dissapointed now. It feels like real money as I nurtured the 100 demo dollars up to 323 and now its down to 286...

Hi Kevin
Great journal. Good info regarding the small 3BM not working out. I noticed that Loz pointed this out in a live trade vid.
Keep it up mate!!