I made a series of trades with the new Forex system that I am trading…

The red and blue arrows on the charts are the automatic alerts which signal a long or short entry. I don’t enter all of them due to my timing (it really depends what is forming and if I am about to actually take the trades).

Anyway, first off is NZD/USD:

Then, USD/JPY

And then GBP/JPY

And finally, GBP/USD

So, in total I did quite well with +114 profit.

Tags: day trading, daytrade, foreign exchange, forex, forex system, Forex trading, make me some money, nzdjpy

My trading of late hasn’t been very good and I’ve lost focus hence the lack in the number of emails.. anyway, I spent time away to think through and go back to the basics.

Trading the DOW is definately a way to lose money.. the DOW is just a basket of 30 stocks and is easily manipulated… quite frequently when you see a move beyond a level, you expect it to move beyond but no, more often than not, the market will just reverse and do the opposite.. the big boys are obviously aware of the smaller players in the market and know what they are looking for and hence seek to do things to ensure that we lose as much as possible and fill their coffers.

I am going to try and concentrate on trading the Forex markets and am using the Metatrader software. The Metatrader is free and you can easily sign up with a broker for a demo account to test. There are a host of free indicators and also free systems which can automate your trading decisions.. I like to be in control however and prefer to manually trade the markets.

Anyway, there is a system which I have been following for a while now and yesterday there were two entries which I could have taken. Actually, I took the first trade which was a long at 1.8523 on the GBPUSD. However, this soon hit my stoploss and by then I was already in bed. Shortly afterwards, there was a short entry which I could have taken if I was still awake.. it was a short at around 1.8514 and it would have allowed us to close at 1.8373 for a profit of about 140 pips!

I will be watching this trading system closely to see how it performs and will keep you informed. This trading system is meant to be good for GBPUSD and EURUSD markets. People also trade the USDJPY with it.

Tags: daytrading, expert advisors, foreign exchange, forex, free trading, gbpusd, interbank fx, make me some money, makemesomemoney, metatrader, spreadbet, Spreadbetting, Trading, trading system, trading the gbpusd

The short entry was a good one.. however, in light of the strong uptrend I wanted to get out as soon as it hit any resistance and I got out at the round number 11600. The stochastics were also way into oversold territory so I got out and grabbed a measly 10 points.

The market however, fell further and is currently at 11583… trust my luck!! The hardest thing I think about trading is knowing when to get out..  I think it’s much more difficult than entering.

The other day, I gave up over 120 points on the GBPJPY forex pair which was also disappointing.

As I write, the Dow Jones has fallen further.. it’s now at 11577

Tags: day trading, daytrader, daytrading, dow, dow jones, scalping, short, shorting, Spreadbetting, supertrend indicator, Trading