December 16, 2008

The Ultimate Forex Predictor

Tuesday 16th December

I finally managed to get in on a trade today around noon. However, as the market had been jumping up and down all morning giving plenty of false signals (none of which qualified under my method thankfully), and seeing as a few minutes before I was lined up for a sell trade that didn’t qualify, I decided to move my stop to break even pretty much immediately. The trade progressed to about 15 pips profit at which point I moved my stop, and then it plummeted back down stopping me out of the trade in two minutes flat. I definitely made the right decision as the trade would have been a maximum loss:

 
I’ve just read my e-mails and so thanks to those of you that told me about the update in the members area. I can’t bear to watch Kieths daily videos… very bad of me I know, but I feel like I’ve had a frontal lobotomy by the time I get to the end (hope he doesn’t read this!). Anyway, apparanty Kieth has advised not trading GBPUSD currently as all the focus appears to be on the EURUSD. Also, there’s a new data feed replacing Tullet which is apparantly faster. I watched the video and it does indeed seem to be vastly superior, practically matching the price in IG Index in less than a second, and updating itself every second too. This is great news as it’ll mean from now on we shouldn’t have the problem of a trade getting opened in IG without it qualifying in Tess.

I think with this new feed it is now worthwhile abandoning using both the Barclays and the Tullet feeds. From tomorrow I will be trading GBPUSD still because I want to see how it performs over a whole year, but using the new FXCM feed, and seeing as I’m not using Barclays now, I’ll also run a set of charts for EURUSD as that is apparantly where the action is.

Filed under Forex,Spread Betting by Graham

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