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.