A mixed week for me this week. I made some good profits overall but my shorter term 5 minute strategy that I've been using to trade the opening hour of the London session, ie 8.00-9.00 UK time, failed me this week and resulted in a loss of 17 points after 4 trades.

I will still persevere with this system, however, as it's been profitable overall in the few weeks that I've been experimenting with it, and if it does turn out to be a profitable system then I will provide full details through my new newsletter which I've recently added to the site. You can join by simply filling in the short form on the right.

My main forex trading strategy, which you can also get full details of by subscribing to my newsletter, continues to yield excellent profits. It didn't present any opportunities on the GBP/USD pair this week but it threw up two good entries on the EUR/USD and the USD/JPY pairs.

They both happened early Wednesday morning, which thankfully I was up in time to catch.

The first was an opportunity to go long on the USD/JPY. I was only looking for long positions on this pair as we are still in a bullish trend on the daily charts, and after the EMA crossover upwards on the 4 hour chart, I managed to enter at just under 105.00.

The price subsequently rose nicely and I closed half my position at 105.45 and let the other half run, which unfortunately was stopped out later in the day at my adjusted break-even point of 105.00.

My other entry came when the EMA's crossed downwards on the 4 hour chart of the EUR/USD, which has recently turned bearish on the daily chart, therefore I'm now currently only looking for short positions.

I entered into a short position at 1.5500 and closed half at 1.5446 and let the other half run, which turned out to the correct strategy this time as it plunged nicely and I managed to close this portion at 1.5398. I could have got another 100 points if I'd held on but one of my trading philosophies is that I never beat myself up for closing early or missing out on a good trading opportunity.

Overall it was a pretty good week despite the 5 minute strategy not going to plan.