I didn't place any forex trades last week due to the quiet markets, and I decided to the same this week as well. However I think I will probably start trading again next week now that August is over and the holiday season is coming to an end. (UPDATE: I've just realised that there is a bank holiday in the US on Monday, so maybe I will hold off a little longer).

Luckily it's still been a very profitable week because the long position in BP that I mentioned in my last trading update hit my 20 point profit target when the UK market resumed trading on Tuesday.

On the same day I also opened a big long position on Tesco at 360p because it was trading at a ridiculously low level, and managed to bank a 20 point profit when it hit 380p yesterday.

As regards current positions, I have started scaling into a long position on BP at 376p, but ideally I want it to fall even lower, along with the wider market, because I think the FTSE is too high right now. I just wish I had some spare cash lying around so I could buy some more for my long term portfolio, but unfortunately I'm pretty much fully invested right now.

Anyway that's about all I have to say this week. Hopefully the forex markets will liven up next week and I can start making some money again. Although I have to admit that I have always found share trading and investing so much more exciting. Forex trading feels more like a job to me.