Posts Tagged ‘ forex trading ’

Explosive end

Wow, wow, wow! What a finish to the year. Today has been exceptional and I’m all done for the year now. TUFXP has been in stunning form the last week or so and I totally didn’t do it justice yesterday. There were two EURJPY trades open and I entered late and adjusted my profit target by an extra 5 pips. What happens next? It passes the original scalp target and misses mine by 1.1 pips. I didn’t even have a chance to move my stop-loss to breakeven as I left the trades running after I’d finished for the day. So instead of a +50 result I was -50! A massive 100 pips difference. I broke my own rules of chasing the market and being greedy by going for extra pips and I should of stuck to my game plan. So a disappointing result yesterday but boy oh boy has it been put behind me today.

There was a false breakout on my strategy on GU but it quickly became apparent it was likely to break to the long side also. I decided to enter early and managed to turn a normal 30 pip win into a 60 pip win. The London open at 8:00 AM was superb and sent GU flying. I also had a TUFXP win using one of my strategies and it scalped easily. Some people are adverse to opening several positions in one direction but as long as sufficient money management is used, I will always follow my instincts and any potential trade that becomes available.

The guy who’ll be testing my e-book methods has been in touch and he’ll be blogging all results as of January as we both agree, it would be crazy and unprofessional to start any attempt at breakouts from next week onwards until the New Year. I’ll be back trading as of January 4th 2010. You can find out all about my e-book here and this is where all results will be recorded. There’s been much discussion on Forexfactory regarding how I was ‘harvesting’ for customers when in fact I never once made a pitch for sales or even mentioned I had an e-book. People are accusing me of selling something that is freely available when they haven’t even looked at the depth of it or the actual methods. It’s highly annoying but I’ll leave them to it and let the test results speak for themselves. I was planning on making an end of year post today but I think I’ll save that for over the weekend.

Once again, thanks for reading and Happy Christmas.