I went short on the GBPJPY at 14973 as it was bouncing off the resistance as you can see on the chart below. There seems to be  resistance around the level where the price action was and as the price action looked to fall, I felt this was a good entry. The market has found some strength all of a sudden however so we will have to wait and see what happens. I have my stop at 15024 with a first target (if things go my way) at 14900 or so…

Tags: forex blog, forex trader, Forex trading, geppy trading, shorting the gbpjpy, Spreadbetting

Well, I’m still running the demo account on the FXCM System Selector.. the date is 2nd March 19:30 GMT and the portfolio is now running at just under $97,000 which is a 3% loss so far.

There are a couple of running trades still which are showing a cumulative profit of $1711.73. I’m short on both GBPUSD and GBPJPY on the Trend Escape trading system.

It still early days so let’s see how it goes..

Tags: forex system, forex system review, forex trader, fxcm, fxcm system selector, trading system, trend escape