December 10, 2010

Weekly Trading Update - 06-10 December 2010

This will definitely be the last week I trade forex until after Christmas, although I will still continue to trade shares as we nearly always get a nice Christmas rally. It's been a pretty average week overall. My 4 hour trading system (see right for more details) posted a slight loss overall, but the Forex Morning Trade system finished 40 points in profit thanks to a nice trade earlier today. The full results from this day trading system are as follows:

Monday: no trade
Tuesday: +40 points
Wednesday: 0 (break-even)
Thursday: -40 points
Friday: +40 points

It could have been an excellent week because the price came very close to reaching it's 40 point target on Wednesday as well, but sadly it just failed to do so and came back to break-even. Overall though this system continues to keep on building profits slowly and steadily, and still hasn't had a losing week so far.

If you would like to check out the Forex Morning Trade system for yourself, you can do so by visiting the official website, or by reading my full Forex Morning Trade review.

As I say, my 4 hour trading system had a losing week this week. I was looking to go short on both the GBP/USD and EUR/USD pairs as the Supertrend indicator is now red for both of these pairs on the daily chart. However despite a few good signals, they just didn't want to play ball.

The EUR/USD pair did at least generate two winning trades where I managed to close half the position for 50 points, but on both occasions the price came back to take me out at break-even.

The downward EMA crossovers on the GBP/USD were not as successful, however, as I posted losses of 35 and 40 points on the two positions that I opened. In fact the price never even got close to my initial 50 point target on either occasion.

So all in all I finished the week slightly ahead, but it was a fairly modest profit.
 
2010 has been a very profitable year overall, though, and I shall be back and raring to go in the new year. In the meantime I will continue to write a few blog posts and stay in touch with my email subscribers up until the end of the year, so I won't be leaving you just yet.

 

 

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5 Comments on Weekly Trading Update - 06-10 December 2010 »

December 11, 2010

Hector @ 9:09 pm:

What was the total of pips that you had this year?

December 13, 2010

Trevor @ 4:14 am:

Have you considered offering a subscription service via SMS which would combine the best of all your systems in real time?

December 20, 2010

James Woolley @ 11:32 am:

Hector, I have no idea what my total pips profit is because I prefer to count in money rather than pips. It's been a pretty good year though.

Trevor, I do occasionally think about doing this, but then I quickly dismiss the idea because I enjoy the freedom of working for myself and going on holiday whenever I want.

January 3, 2011

forex @ 11:29 am:

I think subscription services through SMS will help you in providing real time signals

James Marchant @ 7:29 pm:

Greetings,

I'm new to Forex trading and I'm really struggling trying to the find the right time period that works for me. I was playing around with a micro-account with the 5-Minute window, but it seems like so much noise. I switched to 15 Minutes recently and I have a little luck, but nothing consisten. I've tried the "Tunnels of 5" method and just plain reading the candles.

Any pointers on other strategies would be appreciated. I was reading this article about spread betting, but it seems like I would be back to a smaller trading window.

http://forex-spread-betting-tips.blogspot.com/

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