I had an e-mail Saturday night from a reader asking me if something was wrong with IG Index as his account was showing £9000 profit on some LS Trader trades. I checked mine to find one particular trade which I’m in at only 40p a pip was showing a profit of £2,610 which is 6525 pips profit. Of course, this is a mistake because the entire currency would have had to crash overnight to do something like this, and a quick check of the chart in Tufxp confirmed the mistake. I can imagine a few people getting excited over this only to have their hopes dashed, especially anyone trading at a high level.
Last week we exited the British Pound/USD and previous subscribers exited the 5 year T note. The British pound exited with a loss but the 5 year T note brought in a total profit of 500 points.
This week there were three new trades, one of which I haven’t managed to get in on yet as everytime I check, the market is closed. I’ll try it again in the morning.
This trading method really is a slow burner and won’t be for everyone because the profit takes weeks or months to realise, instead of hours or minutes with day trading, but I like it. It’s a good job they send an e-mail out once a week otherwise I’d forget I was actually doing anything with it.
Monday 9th February
For the next two weeks I am going to be following another trading method that was revealed to me by the reader I mentioned last Friday. He has asked me to keep the method under wraps for now whilst they tweak a few things with it, which is fine, so I’ll be posting the trades from my own method by looking at the charts at the end of the trading day.
I’ve now had a few e-mails from different readers who have come up with their own successful trading methods and most have agreed to share it here although some have asked that I don’t post the methods until they have been tested for a bit longer.
When I post a new method, I’ll copy it to the ‘My Tufxp Method’ page at the top of the blog for quick reference.
My first day with the new method was very encouraging making 152 pips profit in one trade. Only one chart required too which makes the screen a lot less busy and easy to read.
On to my method and I’m reverting back to the tried and tested 35 pip stop as the 10 pip seems a bit too tight. Looking back there looks to be about 60 pips on the GBPUSD:
And a break even around 1pm:
On the EURUSD the was at least 10 pips on this trade depending how close you trailed the stop:
And on the EURGBP there was 40 pips here:
A good day for my method and the new one.