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Week in review and upcoming
Ok well another month in the books with a reasonable gain. 25% give or take a few after 2 months.
As far as trading this week alot will depend on if a deal is reached in Washington on the debt limit. I expect the markets to be volitile until this is solved. In addition it is NFP week which always makes things interesting, add to that the lower liquidity that is always present in August, jaw boning by the Japenese as to the level of the Yen (they just don't seem to get it that the Yen is now a safe haven currency thus the recent strength) and it makes for a dicey situation when investing.
If they get a deal done in Washington it should help the market in regards to direction and offer some good opportunities to get long the Kiwi and Aud at more position friendly levels.
If we do pull a trade please reduce leverage to .05 per thousand dollars. I will be looking at Swiss pairs this week as well as the Kiwi and Aud. EURCHF is in a great down trend and we might be able to get a few pips off some retraces and shorts. I will be looking to get short around 1.1400 provided the system ok's a short at that level The loonie may also present some opportunities.
Have a great week!!!!!!
Thanks
update
Well unfortunately I was not able to take a signal on that EURCHF trade set up I was looking at since I wasnt at my terminal. I hope some of you got into it. In any case we are short EUR right now and I have a target of 1.4000. I have tightened the stop to even. Since that what system calls for (let winners run close the losers ).
You can take half off now if you wish, The moves in EURCHF and EURJPY are sure be classified as disorderly by SNB and BOJ which could spell intevention at this point so caution is advised. The risk reward on this trade is worth it to me as long as we move to even.
Thanks
system stop
We are just above the resitance stop for our stop in case it over shoots
good morning
We have a good week going and good start to the month , we have moved the stop on our Kiwi short to .8736 to lock in 20 pips and moved the target down to .8625 ( support line on our 4 hour chart )
We are currently testing the 4 hour trend line that starts from 7/12 a break should send us lower but this line should put up a fight.
So why not take the profits now. Our trend bands are still signaling further weakness In addition we are risking about 40pips profit ( .8756 to low of .8692 locking for 20 ) to gain 80 thats a 2-1 ratio so good risk reward.
Thanks
out +45 total 190
Ok so for now it looks like that trendline may hold, We closed at for 49 pips as you can see our trend bands have turned up
trend bands + 4 hour trend line take the profit and run
have a good day
The answer is
I have recieved a number of PM's asking why I did not jump on the EURCHF train and take the "easy money " Hopefully yesterdays early asian action and last nights Europe session showed the dangers I feel exist when trying to trade pairs at all time highs or lows.
Simply put there were a number of signals to sell that pair this week after I missed my prefered entry point at 1.1400 on Sunday.
The trades would have been extreemly profitable. There was also a trade signaled last night to go long and then again this morning to go short. I passed on all of them for a number of reason here are a few.
The market was way over sold and the SNB kick to the face inspired short covering is what I would consider an irrational market. Buying into a down trend as strong as that is not safe trading. Blindly following a system with out logic or reason is a sure way to blow up an account The system is the vehicle, the trader drives it. Systems dont fail traders do.
Finally the biggest reason I ignored that and the EURJPY trade and other "easy money pairs " Is because of all the governments involved in the FX markets... 2 of them are notorious for manipulating currencies that they "allow to free float" They are :
Japan and the SNB
One of them finally snapped last night and is now warning they will do it agian if they need to. The BOJ has drawn a line at .7600 but cant raise the support to actually slap around some traders yet. Intervention sucks, threats suck they kill nice trends.
What sucks even more is watching your account loss 40% while you wait to get filled on your stop loss that was over shot It only takes one Bull to start a stampeed and if you are in front of it when it starts your chances of getting out of the way are close to nil if your inside the fence.
Stay out side the fence in the pasture and you are much safer. Thats what I prefer to do, and because of it we had a good week and great gain to start the month. It may not be as sexy or exciting as gaining 800 pips but a profit is a profit.
trading time
The room is open I will be hanging out for most of the day. Hope to see you all there. 
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Greetings,
The fxtradermate signal is now live and I would like to invite you to view our performance and track our results as well as subscribe to our signals.
I am in the process of making the finishing the videos, and website explaining the system we use as well as our trading philosophy. Until that is done I would ask that you check this thread for updates.
The system is based on price action and is TICK based. I use 4 different techniques to trade the market. I primarily trade the majors. The system is traded manually and is not an EA. It is based on my 10 years trading forex.
One of the first things that you will notice when you view my results is that I have more losing trades then winning trades. For some this will scare you off. My first rule of trading is cut the losers and let the winners run. For the most part my losses are reasonable. However I can and will have a number of losing trades in a row for these reasons money management is EXTREMELY IMPORTANT when following my signals or auto trading with me. My suggestions are as follows:
conservative approach .............. .05 per thousand dollars of equity in your account.
aggressive approach ................. .10 per thousand dollars of equity.
All results posted on RAS are using the aggressive approach form a real money account. I feel this will give an accurate accounting of the max drawdowns you may experience following my signals.
If you choose to trade with me you will need to be patient. My approach is a slow and steady wins approach to the market. Just because the market is open 24/6 and it is easy to day trade it doesn't mean that you will have a winning day every day or even a winning month every month. My goals is consistent monthly and yearly profits. I don't chase losses so I can show a gain daily this produces more losses. No system is perfect and no system can produce winners on a daily basis. If a system is turning in consistent losses the system is not designed for the current market conditions and trading should be halted before the amount lost becomes insurmountable. This is my philosophy, and this is how I trade.
If you subscribe to my signals and are able to trade at least .05 per pip you should be able to cover the cost of my signals plus turn a profit on your investment.
Each day around 8:00 eastern I will post the preferred risk per pip amount for the up coming trading day. so please check back daily. In addition I plan to start recording the market 24/6 so that you may see how the system performs day in and day out at any given time thru out a trading week or month. I will of course condense the time (who has time to watch an 8 hour session
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