March 25, 2011
Weekly Trading Update - 21-25 March 2011
My main 4 hour system has been a bit quiet this week. There were no decent set-ups across the major currency pairs at all. There was an upward EMA crossover on the EUR/USD pair yesterday afternoon, but I didn't feel comfortable going long at these kind of levels because there was a lot of bearish divergence on a few of the indicators.
Not to worry though because the Forex Morning Trade system had one of it's best ever weeks this week. There were 4 winning trades out of 5 and it was very unlucky not to have been 5 out of 5. In total I banked 160 points (minus the spreads), as you can see below:
Monday: -40 points
Tuesday: +40 points
Wednesday: 0 (break-even)
Thursday: +40 points
Friday: +40 points
If you haven't already bought this system, I highly recommend you do so. I've been trading this system since September and during that time it's only had one losing week and has generated a 5-figure profit (£ not $). It really was the best $97 I ever spent.
Here's the link if you want to find out more:
It was quite fortunate that this system produced a bumper profit this week because I couldn't find too many other trading opportunities.
I've been dabbling a lot with early morning breakout trades just recently and these are working out pretty well on the whole. I think I made about 45 points profit after deducting the losses from the one losing trade that occurred, but the stakes were relatively small. I'm still trying to perfect a system, particularly with regards to exit points, but I'm sure I will get there eventually.
One other highlight of the week was being able to buy yet more shares and open a few more long positions in Tesco, and then seeing them surge from around 365p to more than 390p in a couple of days. I banked quite a lot of profit yesterday on some of my short term positions, but would love to see another fall so I can pick up some more, particularly as it goes ex-dividend next month. Elsewhere after banking profits in Unilever and Barclays recently, my only other interest is in Lloyds, but this has hardly moved all week.
Overall though it's been a hugely profitable week on all fronts. I just hope it continues for the rest of the year.