February 18, 2011

Weekly Trading Update - 14-18 February 2011

After I had my first losing week of the year last week, I am pleased to say that I was back in profit this week. It wasn't a massive profit by any means but it was good enough. My main 4 hour system found one really good trading opportunity, whilst the Forex Morning Trade system produced the goods yet again with an overall profit of 40 points. I started trading this system back in September and incredibly I still haven't had a single losing week. The full results for this week are as follows:

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

(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 regards my 4 hour system, I thought I was going to be able to go long on both the GBP/USD and EUR/USD pairs once the EMAs crossed upwards on the 4 hour chart. However the crossover candle on the GBP/USD pair was very long and there was no subsequent pull-back once it closed, so there was no value in going long there.

Luckily there was a slight pull-back on the EUR/USD pair and I managed to get a decent long position at 1.3555. I normally look to close half the position for 50 points and let the other half run. However because I had to leave this one to run overnight, I decided to set my target price at 50 points and my stop loss at -40 points. The net result was that I woke up the next morning to find that this 50 point target was triggered overnight.

So overall it wasn't a bad week at all. It was a decent enough profit in the end. On the shares front I'm loaded up with Tesco shares at the moment (in my ISA, ordinary share trading account and spread betting account) and they are all nicely in profit now the price is back above 400p. I also have a few positions in Unilever, but I'm still waiting for these to go higher.

Anyway I will speak to you again next week. Have a great weekend.

 

 

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3 Comments on Weekly Trading Update - 14-18 February 2011 »

February 18, 2011

lazo @ 12:54 pm:

We expect in the coming hours possible test at 1.3570 / 80 rebound and appreciation of the dollar to 1.3500 / 10. Quotes are between 12 and 24 periods MA lodging neutral signal. The last crossing of both moving averages is signal for Long. MACD indicator is the zero line and made neutral signal. Stochastic indicator signal for possible downgrade. Overall, the technical indicators submit mixed signals.

Friday is shaping up to be poor in publications such as a more significant impact we expect to have data on retail sales from the UK and the consumer price index in Canada. The meeting of G-20 countries conducted in Paris will probably be the focus of investors, but we expect and the statements of Ben Bernanke - Fed chairman, and Marvin King - Chairman of the ATSB to affect the mood of market participants.

nick forex @ 11:08 pm:

That's a great track record. All the best for the following trading week.

February 20, 2011

Mercury363 @ 5:09 pm:

Finding a great forex system that is reliable and consistent is one of the hardest (and most frustrating!) things in the world to do. I had gone through dozens of them before finding one which finally worked for me. All the best with the trading!

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