A Simple Forex Trading System – And It Actually Works
Good morning Brendon,
Another week starts off with bright clear and sunny skies here in paradise – the Gold Coast in SE Queensland.
I will be travelling to the Sunshine Coast tomorrow for business meetings so the update will be late, perhaps done and posted by midday local time, if all goes well.
Due to technical reasons the latest FX Update will be delayed until later in the day.
Cheers
David
Hey Bren,
Here is the latest FX Update – Click here
OK and the latest P&L since 1 Sept 09 – Click here
A very volatile day yesterday easily leading potentially to your stops being hit and being taken out of a newly entered trade. Often after a good and profitable run it is good to step aside, rest and let the markets sort themselves out and sort out the next move, rather than staying in and getting beaten by the volatility. All good in hindsight!
Let’s see what happens over the next few trading days.
Have a good weekend
Cheers
David
G’Day Bren,
Here is the latest FX Update – Click here
Here is the the P&L since the beginning of October 09 – Click here we are +716pts
And here are the new trades for the day – Click here
As you can see the system has decided that the trend is over for a lot of the pairs, if you look at a chart this is very apparent, so let’s see how the new directios and signals go
That’s all for now
Cheers
David
G’Day Bren,
Our profit from last week is taking a bit of a hammering after the good run we have had over the past few weeks.
Here is the latest FX Update – Click here.
The P&L since 1 Sept 09 is still in +ve territory – Click here
There is a trade for the day – Click here
Keep the faith
Cheers
David
G’Day Bren,
Here is the latest FX Update – Click here
Here is the grim news that the P&L since 1 Sept 09 has taken a turn for the worse – Click here
There are also a couple of new positions to enter today – Click here
The currency pairs have all had a good run in the directions predicted – they are now taking a breather and some are correcting and retracing beware that this is the time when a lot of profit is lost, we are down around 800pts compared to the peak of 2200pts late last week. This is the nature of the beast we are dealing with.
Have a great day
David
Hi Bren,
A late update due to business commitments and travel this morning, I got caught out by the change of time in the UK, which now means our updates are done at 10:00am Brisbane time AEST.
OK here is the latest FXUpdate – Click here
And the detrimental effect this has had on the P&L since 1 Sept 09 – Click here
Also there is one trade to Open today – Click here
Well that’s about it for today, more tomorrow.
Cheers
David
G’Day Bren,
Do you realise that I have been updating this blog for just over 6 months – time flies! There have been some good months and some not so good, a bit of analysis wouldn’t go amiss, to try and make sense of how effective the signals are.
We should get together and do review of the performance of the indicators and write a few tips for the people who follow the blog, what do you reckon? A project for the next few weeks perhaps.
OK so on to today’s FXUpdate – Click here
The P&L since 1 Sept 09 at +2197pts – Click here
To help judge the profitability here is a P&L since 1 April 09 at +3052pts – Click here
And from the beginning of the year 09 at + 7570pts – Click here
So we can say that the system works, yes it does, but you need to be able to withstand a succession of losing months, not only financially but more importantly mentally, but in the long term as you see you do come out in front.
On that bombshell – as Jeremy Clarkson says, see you next week.
Have a good weekend
Cheers
David
Hi Bren,
How are you going? I was clearing out my email Inbox and came across this email entitled “Monkey Business” I thought you might enjoy it.
Monkey Business
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $5 each. The villagers seeing that there were many monkeys around, went out to the forest and started catching them. The man bought thousands at $5 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $10. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer increased to $15 each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it.
The man now announced that he would buy monkeys at $50. However, since he had to go to the city on some business, his assistant would now buy on his behalf. In the man’s absence, the assistant told the villagers. ‘Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $45 and when the man returns from the city, you can sell them to him for $50 each.’
The villagers rounded up with all their savings and bought all the monkeys. Then they never again saw the man nor his assistant, only monkeys everywhere!
Now you have an understanding of how the stock market works……
Now on to the FXUpdate – Click here
Finally the P&L since 1 Sept 09 – Click here
That’s all for today, last update of the week tomorrow, have a good day
Cheers
David
Hi Bren,
Back on the Gold Coast after a great week in Bali, what an interesting place. We travelled around a fair bit and saw a lot of the South part of the island, nice people, good food, Bintang beer and great weather, what more do we need.
OK, back into the FXUpdates – Click here for the latest table.
The P&L since 1 Sepember 09 is at +1377pts – Click here for table
That’s all for the moment
Cheers
David
G’Day Bren,
Here is my last Update for the week, I may be able to get tomorrow and Monday, it will all depend on the availability of internet access – fingers crossed!
OK here is the latest FX Update – Click here
The P&L since 1 Sept 09 is at – Click here
Well that is about it for now, hopefully tomorrow!
Cheers
David
