My main 4 hour system (see right for more details) didn't find any trades at all this week on the major currency pairs. So it was left to my breakout system to do the business, and luckily there were 3 winning trades in total.

They were all on the GBP/USD pair, as always. The first of these was on Tuesday. The overnight trading range was just over 40 points, so I was looking to go long or short on any breakouts after  More on Weekly Trading Update - 12-16 September 2011

The ROCnROLL indicator is one of the lesser known indicators but it is one of the most useful. It is available if you have access to the ProRealTime or IG Index charts, and you might want to consider adding it to your charts because it is essentially a histogram that tells you the current trend.
 
I have talked about the ROCnROLL indicator before back in 2008, but in simple terms a green bar indicates a bullish trend, a red bar indicates a bearish trend and a blue bar indicates that there is no clear trend at the current time.
 
Therefore if you only trade positions based on  More on Why The ROCnROLL Indicator Can Keep You Out Of Trouble

Well it's been another fairly quiet week but I cannot complain because I had two winning trades out of two. There were no trades using my main 4 hour trading system this week, but the breakout system that I use found two winning trades.

The first of these was on Monday on the GBP/USD pair, which is the only pair that I use when trading this system. I shouldn't really of traded this one because  More on Weekly Trading Update - 05-09 September 2011

Trading price reversals is one of the most popular ways of trading the currency markets because you can potentially make a lot of money if you call them correctly, particularly on the longer time frames.

However a lot of traders rely on basic indicators to try and call the top or bottom of a market, and the fact is that you cannot just go short on a pair when one of the major indicators is indicating it is overbought (or go long when it is indicating it is oversold) and expect to make money. Unfortunately forex trading is not as easy as this, otherwise we would all be insanely wealthy.

More on Price Reversals - Here Are 2 Of The Best Ways To Trade Price Reversals

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.

More on Weekly Trading Update - 29 August - 02 September 2011

I decided not to place any forex trades this week because we are at the height of the holiday season and the markets are just too difficult to trade with such low volume and low volatility. I have still managed to place one trade using my main 4 hour trading system (see right for more details), but that was on the FTSE 100.

I was still looking to go short because the  More on Weekly Trading Update - 22-26 August 2011

Pyramiding is an interesting concept in relation to forex trading because it is the opposite to many of the more conservative trading strategies. Instead of closing part of the position when the first profit target has been reached, you actually open new positions instead, and continue opening new positions if the price of the underlying currency pair moves in your favour.

So you essentially add to winning positions in order to multiply your profits and benefit from the fact that your initial call was correct. It is a  More on Pyramiding - A High Risk High Reward Forex Strategy

August continues to be a frustrating month (which is generally the case most years because everyone's on holiday and the volumes are lower), but at least I managed to make a decent profit this week after the disappointment of last week. I only placed two trades in total. One was a losing breakout trade but the other was a big winner.

Let's talk about the losing trade first of all. I've been trading breakouts a lot in the last few months, but this week there was just the one trading opportunity on the  More on Weekly Trading Update - 15-19 August 2011

The Forex Profit Accelerator Trade Alert Software is a brand new product from Bill Poulos that provides you with 4 profitable trading systems, as well as trade alert software that alerts you to the very latest set-ups for each of these trading strategies.

(Update: The Forex Profit Accelerator software is now live, and you can now buy this software and the accompanying trading systems (or simply find out more information) by clicking here).

It is based on the original Forex Profit Accelerator course, but it now includes this advanced software as well. This will make your life a lot easier because you no longer have to  More on Forex Profit Accelerator Trade Alert Software Review

I always think I'm very fortunate to live in the UK (although it hasn't been too great recently) because it allows me to trade the forex markets at the most profitable times of the day. For me these are the hours between 8.00 (UK time) and around 10.00 or 11.00. When the US markets open at 14.30 (UK time) I have pretty much finished for the day and will probably be paying far more attention to my stocks. So is it worth trading the forex markets after the US markets open?

More on Is It Worth Trading Forex After The US Markets Open?