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

Well, the US market is closed today and I’m still on the live account.. phew! As there’s not much trading, I thought I’d spend some time doing research. As you know, I also look at Forex and I found a forum with a whole heap of free trading systems:

http://forexfactory.com/forumdisplay.php?f=71

In addition,  a lot of people use the Metatrader platform which is great in that you can add what are called Expert Advisors which are essentially automated trading systems.. they open and close positions for you automatically… you do need to keep the platform open though for it to do this. I wrote a post about this yonks ago, the post is here (if you’re interested)

http://makemesomemoney.co.uk/2007/08/24/make-money-while-you-sleep-with-automated-trading-part-2/ 

Also, as mentioned in the post there are some available to buy which plugin to Metatrader, these include:

Prophet1 Expert Advisor - claims to generate over 90% profitable trades
KISSfutures - claims to average +176 pips per month with little drawdown
Forex Ghost – claims to be 96% accurate

Tags: daytrade, expert advisor, forex, forex ghost, free, free trading, freebie, kissfutures, metatrader, money, pips, profit, prophet1, quant, Trading, trading system, trading systems