Well it's been quite an eventful week this week. It wasn't ideal trading conditions for my main 4 hour method because the GBP/USD and EUR/USD are both trading at very high levels at the moment, but I did manage to squeeze out some modest profits this week. I actually fared much better trading the very simple method that I picked up from the Forex Nitty Gritty course, but more on that later.

First let me tell you about my trades for the week using my core strategy. There were no trades on the USD/JPY pair but the GBP/USD and EUR/USD pairs, which are both in strong uptrends, did trigger a few long positions.

On the GBP/USD pair I jumped on board at 1.5220 when the EMAs crossed upwards (well actually they didn't quite cross but the shorter term EMA (5) bounced upwards which was good enough for me) on the 4 hour chart on Tuesday. I closed half the position for 50 points and let the other half run looking for a big upwards move to at least 1.54 but unfortunately after moving my stop loss to break-even I was automatically stopped out at this level, which was annoying because I was about 130 points up at one point.

The other upwards crossover on the GBP/USD pair occurred on Thursday and I went long at 1.5195 this time around. I just about managed to bank a profit of 50 points with half of my position once more but I was again stopped out at break-even with the other half.

The final position was on the EUR/USD pair, also on Thursday. I went long at 1.3620 but this one struggled to reach my initial 50 point target and as it was getting very late I decided to move my stop loss up to break-even and let it run overnight setting a modest target of 80 points. As it turned out the target was irrelevant as I was automatically stopped out at break-even.

So the results from my main trading system were not exactly overwhelming this week, but the good thing about my system is that even when trades don't turn out as well as expected, they will nearly always go up about 50 points (or 40 points on the USD/JPY pair) so that I can bank a decent profit with half the position.

Now as promised I want to tell you about my results using the Forex Nitty Gritty course (see my last blog post for more details). The course itself is very good but I have to say that the trading method is also very effective.

I've been using the method on the 15 minute charts and I've had 4 winners out of 4 so far over the last three days. It is a very simple method but it does seem to deliver consistent profits. Just this afternoon it triggered a short trade on the USD/JPY pair at 95.32. I set my profit target and stop loss and came back a few hours later to find that I was 25 points better off.

And these winning trades keep on coming. Providing the currency pair is trending upwards or downwards you do tend to get several trading opportunities a day. I personally like to wait for the very best set-ups (and only trade between 08.00 and 16.00 UK time) and by doing this it's very easy to rack up one or two 15-25 point gains per day.

I'm already looking forward to next week when I shall be able to test it out over the whole week, but I'm pretty sure I shall be using this system quite a lot in the future.

If you haven't already done so, you can read my full review of the Forex Nitty Gritty course by clicking here.

Have a great weekend.