June 2012

Main Account (Trading the Markets for Maximum Profit)

Week 3: 41.80 pips for £ 418.00
Overall:  146.60 pips for £ 1466.00

Secondary Account (MM2)

Week 3: 97.00 pips for £ 970.00
Overall:  133.00 pips for £ 1330.00

Usual caveats apply:

Trading ForEx is discretionary; I’ll see trades other people won’t and miss trades that they take. We all read the market differently; therefore your results will be different from mine. Further, I am experienced trader with over 4 years’ experience. Although I try my best not to colour my trials with this experience it is impossible to remove it completely.

Filed under Forex,Spread Betting by Arthur

Markets Mastered (Trading With A Day Job) update

I have been looking at Trading With A Day Job again. I am happy to report this excellent system is still performing and doing rather well. The beauty of this system is that it is evening trading, so ideal for those who want to break in to ForEx but still have a 9 to 5.

I would recommend that beginners look at the BabyPips tutorials (http://www.babypips.com/school/); this is free and provides an excellent understanding of ForEx. You need a solid foundation before progressing on to a system like this.

This system still merits its approved rating but I reiterate the caution given by Jonathan in the original review; “A word of caution however, please do not think you can pick this up over night and make instant profits, it will take a few weeks to get your head around it and then a few more before you stop referring to the manual. I strongly recommend paper-trading until you are comfortable with the system. But once you are you will be very happy, from my results, I would suggest you can make a £1000 a month without too much of a problem”.

You can get Markets Mastered here:

http://www.cash-master.com/marketsmastered.php

Filed under Forex,Spread Betting by Arthur

Please note the Caveats below as I have added a new one this week. I have been allowing some trades to wander in to the Asian session. This is not a good idea as the spreads widen and there is more chance of being stopped out. Therefore trades will be closed at 9 p.m. London Time from now on and the profit/loss taken.

This has been another tough week trading wise, until Friday where the Euro Summit removed some of the anxiety in the markets, for now at least.

Week 5: £ -0.20
Overall:  £ 5489.02

148 trades with an average Stop of 23.1 pips.
Strike Rates of 58.8% for Target1, 33.1% for Target2, and 12.8% for Target3.
Using 1:1 risk/reward at £10 per pip has an overall profit of £5,406.00

Using 1:1 risk reward, risking 1% of bank per trade and a starting bank of £100 (10p minimum lotsize and lots rounded down to 10p multiples) the bank now stands at £134.27.

Caveats:
I am using the Alpari spread betting metatrader. Your results may (will) differ from mine as you will get better or worse prices than mine.

Secondly, I simply cannot take a trade where the fast MA is below the slow MA for a buy, and vice versa for a sell. I know it’s not in the rules this way but this personal foible is the way I am operating this.

Thirdly, the manual says the MAs have to have sufficient separation, I have interpreted this as 2 or more pips.

I am using a trading window of 8 am to 4-30 pm, London time. I am ignoring signals outside of this window.

I am using a 3 target strategy for a third of stake at each target as follows: Take Profit (TP) 1 risk/reward of 1:1, TP2 using 1:2 and TP3 using 1:3.

To set tops, I am using Bill Williams’ fractals to identify swing high and lows.

I am using a maximum stop loss of 50 pips.

As of week 5, trades are closed at 9 p.m. London time and whatever profit or loss these trades are in is taken.

Summary by Pair:

Some pairs are performing better than others. Here is a summary:

Filed under Forex,Spread Betting by Arthur