December 3, 2010
Weekly Trading Update - 29 November - 03 December 2010
We have had snow here in England all week and it's been bitterly cold, so I have needed all of my will power to get up at 6.15 every morning, but it was worth it in the end because the Forex Morning Trade system, which enters a trade on the GBP/USD pair at 6.30 every day (if conditions are met), ended up generating a profit of 80 points this week. The full results are as follows:
Monday: no trade
Tuesday: no trade
Wednesday: 0 (break-even)
Thursday: +40 points
Friday: +40 points
It was a nice return to form for this day trading system as it has had a few lacklustre weeks recently where it has only managed to break-even or make a small profit of 40 points.
We are now entering a time of the year that is notoriously difficult to trade so I think I will trade this system (and my other systems) for one more week before starting my Christmas break.
Elsewhere my 4 hour trading system had a mixed week overall. There was a winning trade on the GBP/USD pair when the EMAs crossed downwards on the 4 hour chart yesterday morning. However after closing half the position for 40 points and moving my stop loss to break-even, the price bounced back again and took out this stop loss.
There was one other trade on the USD/JPY pair on Wednesday afternoon. I really shouldn't have traded this upward EMA crossover because I didn't have a great feeling about it, and this proved to be correct as I ended up cutting my losses at -30 the following day.
So my 4 hour system produced a slight loss in the end, but the Forex Morning Trade system more than made up for this loss. Plus I also had a bumper week trading Barclays, Lloyds and Tesco shares, as well as taking out a short position on Betfair, so if you include share trading profits as well, it has been one of my most profitable weeks for ages.