Archive for July, 2009
Latest trade for 100 pips of profit – July month up with 459 pips
Posted on 28. Jul, 2009 by Jakob.
Post nr. 100! July 27th I posted a message on Twitter to short EUR/USD at 1.4260, risking 1% on a 100 pip stop loss, and with an open take profit level. 2 minutes ago I posted a message to close the trade as it is now trading a 1.4160. It might be able to go further down, maybe all the way to 1.4000 before going back up, but as the push down was driven down by the news, I think it is a better idea to take profits quickly. After all, the trend is bullish, so I think this was a good exit. I might be looking into a long position, if and when it reaches 1.4100, but that all depends on a lot of different aspects. All the details of this trade (and all the other ones I have taken) have been posted here on TradeProfits, Twitter or by email to my newsletter subscribers. So far this brings me up to a total of 459 pips of profit or 5.59% for this month. All of which have been free for all readers, followers and subscribers.
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Preview of Ivybot
Posted on 28. Jul, 2009 by Jakob.
Not long ago we had the new FAP Turbo Evolution released, and now we are moving on for the next one, Ivybot. Apparently the creators of Ivybot had a webinar last night where people could get some more information about this new EA. I have been to some of these pre-release webinars and in my opinion, this is nothing but a sales pitch! They will go on for hours, about why you should get exactly this EA and not the other one. But if anybody did attend the webinar, and they had something truly breathtaking to share, please drop a comment. If you want to see the webinar, you still have the chance, as they recorded it and put it up on the sales page. Grab the webinar here. The Ivybot is to be released today around 9 AM EST, July 28th. What I have read about it so far, is that the mechanisms of the Ivybot is somewhat similar to the FAP Turbo, where as the Ivybot will work with four different pairs, and the FAP Turbo is only meant to be used on one pair. The price should be in the range of $150. I will wait and see what other people are saying before I jump in. What are your thoughts on the Ivybot?
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Latest trade call for 100 pips
Posted on 24. Jul, 2009 by Jakob.
A few days back on July 21st when Ben Bernanke started his speech, I entered on a short trade on the EUR/USD just around 1.4250 with a stop loss of 50 pips, and no fixed take profit level. I closed it yesterday, at 1.4150 for a profit of 100 pips. I took the trade with one % of my account balance on a 50 pips stop loss, which gives me a return of 2% for this trade. All the details of this trade was posted on twitter, and you should have been able to get almost the same entry as me, although my first twitter message came a minute or two too late. You would maybe have gotten a worse entry of 10 pips or so. The reason for using Twitter for this particular trade was that it was not properly planed. So I did not have the time to write a blog post.
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4Xproject Webinar
Posted on 23. Jul, 2009 by Jakob.
The guys over at 4Xproject are doing a great job keeping their blog updated. This is probably one of the best blogs out there on automated trading. They are reviewing every possible new EA, and gives detailed explanations about them. This morning I just got an email from them, about a webinar which they are hosting today. I plan on participating. The will cover the following topics; how to evaluate an automated trading system, how to identify scam and how to understand back tested results. My guess is that you will be allowed to ask questions as well, and they will probably do their very best to give you the right answer. It is free, so why not join in.
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Forex on the Go 2.0 with iPhone
Posted on 22. Jul, 2009 by Jakob.
Some time ago, I wrote a short post about the iPhone app. Forex on the Go. Yesterday I got an email from the creators telling me about version 2.0 which has just been released in a light version. With the new Forex on the Go 2.0 you will be able to log onto your MetaTrader platform anywhere and place, close, and modify live trades from anywhere as long as you have a connection. Everything looks smooth, and it seems to be working just as it should. Take a look at the video below, to see how it works.
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TradeProfits on KillerStartUps and FeedTheBull
Posted on 20. Jul, 2009 by Jakob.
A few days ago I saw a spike in the traffic to tradeprofits.net, just to realize that I have been reviewd over at killerstartups. They have a close to 18.000 RSS subscribers, so it is no wonder I got a lot more traffic than what I am used to. Because of this, TradeProfits have been pushed up over at FeedTheBull’s top sites. This site is updated every day, and currently I am having spot nr. 7. It’s nice to see things improving.
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Details about eariler trades
Posted on 17. Jul, 2009 by Jakob.
As I was at work when I wrote the last post, it was a bit short without much information. I simply had to write that I was closing all the open trades as we didn’t see the move down I expected. Furthermore, we had upcoming news which could make our trades go against us. So I got out in time and in profit. Let’s have a look. First we had two open trades, which was taken July 15th, namely: GBP/JPY where we went short at 154.76. We closed this trade today at 152.62 for a profit of 214 pips. I also went short on EUR/USD at 1.4111 and closed it today at 1.4079 for a profit of 32 pips. Then July 16th I took some additional trades, namely: A Short trade on GBP/USD at 1.6400 which also was closed today at 1.6290 for a profit of 110 pips. I also went Short on AUD/USD at 0.8000 and closed it today at the exact same level, which gave me 0 pips. Lastly I took another Short trade on EUR/JPY at 132.50 and closed it today at 131.89 for a profit of 61 pips. These trades results in a total of 417 pips of profit.
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Closing trades
Posted on 17. Jul, 2009 by Jakob.
I am closing all trades in profit now. Look like we might get a push back up, so I want to be on the safe side. I will give a more detailed update when I am off from work.
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Trade update and more trades
Posted on 16. Jul, 2009 by Jakob.
Alright we are currently short on EUR/USD and GBP/JPY and it is looking good so far. I will enter the following trade: Short GBP/USD at 1.6400 with a stop loss of 100 pips. Short AUD/USD at 0.8000 with a stop loss of 100 pips. Short EUR/JPY at 132.50 with a stop loss of 100 pips. All take profits are open, and I am risking 1% on each trade. Let’s see how things play out.
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Update on yesterday’s trade and new entry
Posted on 15. Jul, 2009 by Jakob.
So the trade I took yester did continue up after some consolidation and hit my stop loss, which resulted in a loss of 1%. It has just gone up to the 61.8 Fibonacci retracement level, and is now slowing down the strong move up, it has experienced today. I will enter on another trade on the same pair, GBP/JPY, once again short at 154.76 with a stop loss of 100 pips and an open take profit. I will also enter on a short trade on the EUR/USD at 1.4111 with a stop loss of 100 pips and an open take profit. I will enter both trades with 1% of my balance. Let’s see how things work out.
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