General

Another (quick for once) +20 pips from yesterdays range

Filed under General by Jonathan Wakefield

Our trade from last week finally hit our TP level for another + 20 pips

Filed under General by Jonathan Wakefield

Graham has asked me to update this one today as he is on a plane, a nice winner withing 2 and a half hours today so +£300 using the £10 per pip Graham usually quotes. I use ETX and I know Graham uses Capital so he may just want to verify results but I am sure he will get the same

Filed under General by Jonathan Wakefield

Day 1- 10-Feb – Bets: 3  Winning Bets: 2  Profit £9.00
Total – Bets: 3  Winning Bets: 2  Profit £9.00  S/R 66.67%

Filed under General by Arthur

Graham has asked me to start a trial of the payback trader the second offering from Jason Alexander, author of Forex Hijacker. Today I will briefly introduce the system and the trial will officially start next week. I actually purchased the system two months ago but havent done too much with it to date but have had the benefit of two months of daily alerts (which you will get foc when you purchase the manual). The system costs £247 and then the daily alerts are £67 per month if you decide you want to keep them after the 60 days is up. As usual there is a 30 day money back guarantee.

So what is the system all about? Essentially Jason describes the money markets is terms of “money makers” who essentially drive the markets to certain levels to take out stop losses and then reverse the trades in the opposite direction making a killing in the process. He is able to ascertain where these levels are so we can profit of the same moves the “money makers” make. I must say on a separate note that I think £67 is far too steep for the daily alerts especially after spending £247 on the system, I think £30 would be better value but each to their own! Please note you can find these levels on your own after a bit of practice but it is helpful to cross check with the daily alerts to check you are acurate.

The system uses lagging indicators to identify the alert levels but they are not necessarily used during the trade although they can be if you wish so don’t be put off by this. The system concentrates on GBPUSD and EURUSD but i see no reason that it couldn’t be applied to other FX pairs.

One thing I don’t like about Jason’s systems is the fact that he then provides analysis the day after which is akin to “here is what you could have won if you had traded it just like this”. This just doesn’t work as there is a certain amount of interpretation of what to do when an a alert level is hit, e.g if the market is hitting the level from below then it should be a sell and when from above a buy but there are enough cases when this just doens’t happen. A recent addition which is very useful is the inclusion of a beta traders results along with her reasoning for taking trades, i found this very helpful and so will you if you buy the system.

Enough of the bad stuff, this is a sound system with good content and a members area, e-mails are always responded to promptly I just don’t like the fact that Jason then says you could have made 100 pips on this move if you had the guts to stay in it when in reality you would have had to forsake many alert levels in between to achieve this result!

Anyway on to the trial which begins Monday, i think this is a fairly acurate introduction but will add to it if I think I have missed anything, fingers crossed….

Filed under General by Jonathan Wakefield

Boys and girls we have a winner +20 pips from yesterdays trade and the potential for another trade today, back in profit

Filed under General by Jonathan Wakefield

Last Week’s Performance:

January ended with a whimper and unfortunately the heaviest loss the system has experienced.

What are my thoughts on this?

Well firstly, my money is in the system so I am equally upset at the current situation and disappointed with the recent experience. However, I do consider this performance in the context of the past couple of years and looking back at the reward it has brought me and many others I cannot come to the conclusion that it no longer works.

USDJPY has been going through unprecedented narrow ranges and consequently when they break the normal structure and habits, the market can’t be relied upon as healthily as before. As we return to normal conditions – QFX will kick back in and I am confident that this process has begun already.

At the moment the narrow ranges are so tight that any break is viewed with alarm and liquidity is withdrawn causing some overshoots.

On another note todays range has triggered and we are at a small profit at the moment

Fingers crossed

Filed under General by Jonathan Wakefield

UPDATE

Following on from my post earlier today, another strange thing happened.

I e-mailed Capital Spreads expressing my disappointment that they would open a trade that was already 10 pips past my limit order, and then close it immediately at a loss.

This was their reply:

“Dear Mr. Laurie,

Thank you for your email.

We have now re-credited your account to amend this.

We would like to apologise for any inconvenience you may have experienced. Should you require further assistance please do not hesitate to contact our Customer Support team.

Kind Regards

Jonay De La Vega Herrero

Customer Support”

Short and sweet, and no explanation whatsoever but at least I didn’t lose.

Also, having read this mornings weekly eletter from Mark Rose, the author of Time Shift Trader, he actually recommends NOT to trade on NFP days. He made 37 pips himself today as he’s monitoring how the method works on NFP days but past results show an overall loss on these days so it’s best to steer clear.

So having been refunded plus the fact I shouldn’t have traded today anyway, the figures are as follows:

Day 9: +£0

Total: +£900

Filed under General by Graham

28/1 3 bets 3 losers, running total -5 points
29/1 2 winners at 1.8 and 2.1, +1.9 on the day, -3.1 overall
(burton under 2.5 goals, bor draw no bet)
30/1 no bets
31/1 2 bets, 1 winner at 13/8. +0.63 on the day, -2.47 running total
(mk dons over 2.5 goals lost, palace ht score 0-0, won)
1/2 fulham over 2.5 goals, lost, -1, -3.47 running total
2/2 double on besiktas and novarra corners, lost, -1, -4.47 running total
3/2 no bets

Filed under General by Simon