Well it had to happen sooner or later. After banging on about the fact that the Forex Morning Trade system still hasn't had a losing week since I first started using it in September, it has finally ended the week in the red. It wasn't exactly a disastrous week though. It still only lost 40 points overall, as you can see below, which is peanuts compared to the profits it has brought in over the last 6 months or so.

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

As it turned out, I didn't do too well trading my 4 hour system either. There was one set-up on the GBP/USD pair that looked a possibility, but in the end I rightly decided against going long because I was put off by the long crossover candle. I did however go short on the USD/JPY pair on Monday afternoon at 82.10. This wasn't one of my greatest decisions because it never looked like going my way, and I ended up being stopped out for a loss of 30 points.

It looks as if there could be another downward EMA crossover on the 4 hour chart later today, but I'm not going to take a position because I don't like trading on Fridays for a start, and it also wouldn't feel right trading the yen after what happened in Japan earlier today.

Anyway the week wasn't a complete write-off because there was a nice breakout trade on the GBP/USD on Monday morning which yielded around 30 points or so if I remember correctly. However overall I still finished down for the week, but these things happen and it wasn't exactly a huge loss in the grand scheme of things.

The only positive thing to come out of this week is that the stock market fell nicely and I have managed to pick up some shares in Lloyds and Tesco for my long term share portfolio, and take a few long positions in my short term spread betting account as well. I shall buy some more if they fall much further, and I am also keeping an eye on Rio Tinto and BP as they are both starting to look very cheap as well.

Anyway that's about it for another week. Have a great weekend.