Forex

There is evidence that people are still struggling with the scalping method, but I think it is slowly coming together. It certainly isn’t a race, and ForEx does take a while to learn.

I am in hospital for routine check-ups Friday and Monday so I am blogging this week’s data early. I also missed Tuesday as way too much distractions here to trade. Decorating nearly completed, and a new bed Thursday next week then I should be able to concentrate properly.

Week 3

Week 3 total: 123 pips for £1,230 at £10 per pip, or £176 using Roz’s stake plan (40 pips per day, 4% risk and a £1,000 starting balance) . Next week using Roz’s stake plan I will trade at £1.61 per pip.

Overall total: 514 pips for £5,140 at £10 per pip, or £609 using Roz’s stake plan.

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

There have been some slight changes to the way this is traded, with some new indicators. I am still looking at a 40 pip per day target, and the cash-masters standard £10 per pip still applies. However, there is also a change to Roz’s staking method. As I am going for 40 pips per day I am going to use 4% risk. This requires a recalculation of the first weeks profit total which was based on 2% risk as follows:

Week 1 total: 172 pips for £1,720 at £10 per pip, or £172.00 using Roz’s stake plan, 40 pips per day,  4% risk  and a £1,000 starting balance. Week 2 will use £1.17 per pip.

I will also be using 1:1 risk/reward for 1 minute entries and 2:1 for 15 minute entries.

Week 2

Happily able to trade more than I feared

I stopped trading early on Friday as I was struggling a bit with a cluster headache, Roz says she doesn’t trade Friday afternoons, and pip target for the week has been exceeded anyways..

Week 2 total: 219 pips for £2,190 at £10 per pip, or £260.91 using Roz’s stake plan, 40 pips per day, 4% risk and a £1,000 starting balance. Next week using Roz’s stake plan I will trade at £1.43 per pip.

Overall total: 391 pips for £3,910 at £10 per pip, or £432 using Roz’s stake plan.

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.

Your results will be different from mine. I have had an exceptionally good week, many others did not.

Filed under Forex,Spread Betting by Arthur

Update:

Hi Art back now what a nightmare I have had! unfortunately I can’t get a signal where I live Bt been promising from Tuesday…

and

Hello everyone, I am finally back online!
just going to get access to the control for the site so I can add everyone
what a week, BT decided to come back at 3pm today!
Wednesday started no contact yesterday and back at 3pm today, after numerous calls!

 

Filed under Forex,Spread Betting by Arthur

It is deeply frustrating that there has been no service and little communication this week, Apparently Roz has suffered a major internet outage. There was a brief flurry of activity on Wednesday, so I hoped that things were back to normal, but there is still a lack of communication so I suspect not.

Consequentially there won’t be any updates this week.

I will be keeping a close eye on developments, or lack thereof. I do, however, believe that it is too early to draw any conclusions as to efficacy of the service, although it is understandable that some subscribers do have concerns about this. As some subscribers haven’t access to the skype group as yet, I will try to post any updates I receive. The last update in the skype room was on Wednesday and reads as follows:

Firstly apologies for lack of contact, after working till 1am Monday morning I have had some major problems my site admin page went down before I had finished updating site, which no matter what I did I couldn’t get back on, so I decided to get a couple hours sleep and got up at 5am to finish to find I had no Internet connection at all and a very crackly phone line, I really could of cried!

I have spent hours to BT (literally) trying to get sorted, my fix date is today [Wednesday; Art] and I have just seen someone working in a box (which I took some pics off, I will share) so I am pushing to get back on ASAP.

I have only just checked my emails since Sunday night and I obviously have a backlog, mainly trying to find out where I am I,m sure!

Full service will resume as soon as I am back online, I haven’t even looked at a chart this week, I have all ready to go though and we have a trad4xpro channel on join.me, as soon as I am clear I will get the link to everyone and I have a live Alpari MT4 account which I will place the trades on so anyone tuning into the channel will see the exact trade and where the stop and take profit is, obviously I wanted this to start Monday but this is out of my hands.

No one has been authorised to the site yet so if you have put in a request, that is fine as soon as I’m back on I will accept everyone .

I will finally get trading soon and get everyone to the same point, I did ask Dave to put a message out in the Skype room but I know some of you are not in the room yet, again I will get everyone in the room once I am back online, hopefully very soon.

Regards,
Roz 

There is an object lesson to us all in all of this, whether trading ForEx or betting in sports markets. What would YOU do if your internet or power went down or your computer failed?

Once you have made a little profit: a backup laptop with an internet dongle, battery fully charged is probably enough. Remember you’ll have to check that it works from time-to-time. Also have the trading desk phone number of you broker/Betfair/bookie handy, so you can close any trades/bets if needs must. Remember to back up regularly and often and synchronise with the backup laptop.

Filed under Forex,Spread Betting by Arthur

I started recording last Friday (2 Dec). Here are the results for the first week:

I stopped trading early on 2 Dec as it was Non-Farm Payroll (NFP); a very volatile day. I also stopped early on Thursday as a news item made it all but impossible to trade the afternoon.

Week 1 total: 172 pips for £1,720 at £10 per pip, or £86.00 using Roz’s stake plan and a £1,000 starting balance.

Undecided how much further I will trade December. It is highly likely that I will suspend trading until early January. I might just trade for a few more days though if I like the look of the charts.

Filed under Forex,Spread Betting by Arthur

Since tomorrow is an NFP day and that is a no-trade day for us, I can bring this 12 week test to a close on a positive note. We started the trial very successfully, quickly notching up over 100 pips in the first month, before gently slumping back into negative territory. However, we were never very far behind and I always felt that a couple of good days would bring us back into at least a small profit.

I’m pleased to say that we have achieved that in this last three days, with a net gain of 39pips, which puts us 36pips ahead overall. Using a stake per pip of £10, this would obviously yield £360, less the three month’s subscriptions, so the service is in profit, albeit a small one considering the level of investment. Still, the daily risk is kept low, with the stop loss never exceeding 30pips and more usually around 20.

So, not madly exciting but a reasonable prospect of profit over time. There’s no work involved in it, the texts arrive every morning between 7.30 and 9.30 without fail, you simply set up the orders as advised and leave them to fill or expire. If you have any questions, Arik, the provider, answers them quickly. It can be used on any platform and requires no great learning curve. You could even operate it by telephone.

For a simple and easy way to trade the Forex and FTSE markets, with small risks and little stress (all the decisions are made for you), this is a very acceptable means. It never sank more than a few pips into loss in the 12 weeks and is quite capable of 100 pips in a good month.Therefore, I’m awarding it a Passed rating.

You can join Financial Texts here:

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

Filed under Forex,Spread Betting by Terry Shepherd

Quick Trade FX review

I have just finished digesting Aaron Clarke’s “Quick Trade FX”. The actually strategy is encompassed in half a page of the manual which ticks off my first rule K.I.S.S Keep It Simple Stupid. The other thing I like is that it is a set and forget strategy using two price points at 7am, great if you need to go off to work for the day. The manual contains a lot of padding with how to open accounts and make trades but don’t let that put you off. The strategy itself works and would be a particularly good starting point for new traders. Why? Because you only trade USD/JPY, a currency pair that is a lot less volatile than the traditional GBP/USD and EUR/USD pairings that most of the other systems out there utilise.

Without giving too much away, Aaron supplies a spreadsheet with the manual and all you need to do is enter a high price and a low price over a period of 9 hours. I am not going to give away the exact timings as that would not be fair to the author. Please note this is an easy calculation and you do not need the spreadsheet, however, it is useful just to check your figures against his for the first few trades.

One thing that may put people off is the risk to reward ratio which is 2:1 against. E.g. 20 pips target profit with a 45 pip stop loss. However, the lack of volatility in this pair means it is very unlikely you would get stopped out, especially as Aaron recommends you close any positions at 10pm each evening.

I have back tested the strategy and have shown the results below including today’ results:

November 2011

10th = +20

11th = +4

14th +20

15th no trade

16th no trade

17th no trade

18th +20

21st no trade

22nd no trade

23rd -9

24th no trade

25th +8

28th -11

29th +20
Total 72 pips or £720 to £10 levels

I will now start a daily blog of the trades so we can see whether this promising start continues.

Full details here:

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

Filed under Forex,Spread Betting by Jonathan Wakefield