Friday, July 10, 2009

Friday 10th July

Last night’s trade closed out at 6 pips profit.

A loser on USDJPY this morning costing 14 pips:

And we lost one pip on GBPJPY:

But we won 30 pips on EURJPY:

And we won 8 pips on EURGBP:

And another 47 pips on EURUSD:

Then a loser on cable costing 33 pips:

And another loser on EURJPY costing 67 pips:

And another costing 12 pips:

So 42 pips down on the day but we’re still left with 715 pips profit on the week which is a fantastic start. To answer a few questions I’ve received this week I can say that this is just as easy to operate as Tufxp, it does indeed run in the background in the same way and at the same time as tufxp, and it gives an audio alert when a trade is lining up too and since the sound is different to the tufxp one you immediately know which chart to look at.

Advantages are that you only need to look at one chart per currency pair and you are told exactly where to enter as opposed to my tufxp method where you have to use three charts and only go in if it qualifies on two.

Disadvantages are that you have to use a trailing stop (although thinking about it I suppose if you wanted you could opt for scalping manually), and the stops tend to be larger meaning larger losses on losing trades if you are betting to level stakes. Ian actually recommends risking the same amount on each trade so that you would alter the pip level depending on the size of the stop. On the plus side though, using the trailing stop and seeing as this system seems to identify breakout patterns, winning trades can be significant.

Filed under Forex,Spread Betting by Graham

Friday 10th July

A winner on cable this morning:

Filed under Forex,Spread Betting by Graham