I’ve had a few e-mails from readers asking about my results with Earlybird and why I seem to get trades when there aren’t any logged on the website. Basically there is a core system here where you look for a very specific signal to trade, and this is all I have been using to identify and enter a trade. I have kept it as simple as possible because this way I can see how well it performs at it’s most basic level and also I know that anyone using the same signal would get the same trades. I have also gone for a set profit target of 10 pips and a set stop loss of 15. However, in the manual it is a bit more flexible… you are able to choose which profit limit’s and stops you want (to a max of 15 pips) and therefore different people would get different results depending on what they have decided to go for. Also, I set my trade to close automatically whenever either the limit or stop is reached but again, in the manual it is more flexible in that you can watch the trade and go for more pips if the trade looks good and close a losing trade early if the signals suggest it’s going to reverse on you. In fact it gives specific examples of what to look for which suggests an imminent change in direction and suggests closing a trade to minimise losses should these signals present themselves. It also gives examples of localised highs and lows and suggests not trading or pulling out of a trade if it approaches one of these points. However, I have taken the view that some people will want to quickly identify a trade, open it and leave it to run without needing to watch it and so thats what I’ve been doing and logging the results accordingly.

So onto today…

Buy  (£52) Stop -£780
Sell (£52) Buy  +£520
Days Profit: -£260

Bank £2445

Total Profit: £445