TradeProfits

Short Entry on GBP/JPY

Posted on 14. Jul, 2009 by Jakob.

Some days ago we had a hard fall on the GBP/JPY, as stops were taken out. Since then it has tested the Fibonacci resistance just around 151.837. Currently the pair is trading just above this spot just around 152.075 which I where I am going to enter on a short trade with a stop loss at 153.652 and my TP target being open for now. I will enter this trade with 1% of my balance on my stop loss of 157 pips. Let’s see how things play out.  Read more... (89 words, 1 image, estimated 21 secs reading time)

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FAP Turbo Evolution is out

Posted on 14. Jul, 2009 by Jakob.

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Get Trader Outlook from Bob Laccino on Discount

Posted on 14. Jul, 2009 by Jakob.

That right. I have made an arrangement with the people from Trader Outlook, so you can get Trader Outlook from Bob Laccino at a discounted rate. An email was sent out to all my newsletter subscribers this morning, about this offer. To take advantage of this, all you have to do is sign up for my newsletter before Friday midnight this week, and you will be able to get the same offer. Furthermore, by signing up you will start receiving emails with my personal trade recommendations, and future discounted offers. If you have no idea what Trader Outlook is, you should take a look at this post.

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FAP Turbo Evolution – FAP Turbo Swiss?

Posted on 13. Jul, 2009 by Jakob.

A few days ago, I wrote about the new FAP Turbo Swiss, which is to be released any moment now. Since then, there has been a lot of buzz around this expert advisor. First of all, it seems like they have decided to change the name from FAP Turbo Swiss to FAP Turbo Evolution. The design of the sales page has changed, and you can now seem some performance results over there. Check it out here. Now as I wrote in my last post, there is a good reason to keep an eye open for the FAP Turbo Evolution, as these guys has shown their worth before. If the results posted on the page are real, then this EA looks nothing less than amazing. If you don’t believe the hype, why don’t you attend the free webinar they are hosting today? They will answer any question out there, about the FAP Turbo Evolution. Furthermore, attending this FAP Turbo Evolution webinar will give you a chance to win the FAP Turbo Evolution. I will be there to see what this is all about. Most interesting will probably be which price they have decided to charge for the FAP Turbo Evolution. Until then, check out some of the details of the FAP Turbo Evolution.

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Trader Outlook by Bob Laccino

Posted on 10. Jul, 2009 by Jakob.

Every day we see new guru’s who claim they can help everyone else to become profitable forex traders. New services are starting every day, new expert advisors are being developed, new brokers, new ways to scam people, etc. Well today I received an email about a new service from a guy called Bob Laccino, and somehow this seems a bit more promising than all the other offers out there. First of all, I would like to mention that I have not tried this service as of yet, but I plan on it, and I will write a post about it. But let’s look into it. What is Trader Outlook all about, and why do I think this might be different? Well the typical sales letter is there, and it looks very similar to all the others. Bob Laccino is a professional forex trader with 15 years of experience, starting his career in Chicago. According to the sales letter and the videos, he has done over 500 guest analyst spots on financial news networks like CNBC, Bloomberg, CNN, Wall Street Journal, Financial Times, etc.  Read more... (682 words, estimated 2:44 mins reading time)

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ForexPeaceArmy starts testing Forex Signal & Managed Accounts

Posted on 10. Jul, 2009 by Jakob.

ForexPeaceArmy has been running their testing of different Expert Advisors for some time now and more EA’s are added every week. This feature is great and I am sure this is helping a lot of people to decide if they should buy a certain EA or not. I find the testing over at ForexPeaceArmy to be reliable, updated, accurate and objective. Because of this, it was great news when I got an email from ForexPeaceArmy telling me they are adding two more topics to the testing section; namely Forex signals and managed accounts. Although there might be coming more EA’s out, than new Forex signal providers and companies offering managed accounts, this is still a huge topic with a lot of services to be reviewed! Obviously there are certain limitations to the testing of Forex signals, as the guys from ForexPeaceArmy cannot spend every night sitting in front of their laptop waiting in a chat room for trades to be called out (if this was the case with a particular signal provider), but I am sure they will do their very best to test as many as possible. Currently they are testing two different forex signal providers and one managed account. The tests of the forex signal providers are currently showing negative results, and no results for the managed account at this moment. Go over and check it out!

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Forex Brokers Ranking

Posted on 10. Jul, 2009 by Jakob.

I recently stumbled upon a rather new site called 100 Forex Brokers. The design of the page is in many ways similar to the other top 100 financial sites, namely: Top 100 Forex, Top 100 Finance and Top 100 Investment. In spite of a somewhat lacking design, the page has some cool features. As you can tell from the name, this is a page about Forex brokers; Different brokers have been reviewed and rated, but more important is the front page, where there are several different listings such as:  Read more... (228 words, estimated 55 secs reading time)

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Free fall on GBP/JPY yesterday

Posted on 09. Jul, 2009 by Jakob.

If you guys were trading yesterday I am sure you have noticed a huge drop, specially in the GBP/JPY area. Just around London close yesterday, the GBP/JPY pair was moving around the 150.00 to 151.00 area. As we have seen before close to a year ago, the 150.00 area apparently has a great psychological effect as a support level (as well as resistance when broken). When the pair is moving down towards the 150 level, people have seen the before mentioned support effect, hence this level will contain a high amount of buy orders. When, for some reason, this pair keeps going down through these orders, and through the 150 support area, all these buy orders will be hit and then stopped out, as they will often tend to place stops just below the support level. Movements and breaks of support and resistance levels happens every day, but the 150 area of the GBP/JPY is heavier that many of these daily ones we often see. So yesterday when we had the break, we saw the pair go into a free fall from 150 and about 300 pips down within a very short timeframe (Click on the picture below). What will happen next? If wish I could tell. My guess is that it will go back up to around 151.30 and then back down again, a least for some time. What is your bet?  Read more... (234 words, 1 image, estimated 56 secs reading time)

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New features at Umoo

Posted on 04. Jul, 2009 by Jakob.

Umoo is a great place to begin your stock trading learning curve. You can join for free, practice and win real money. I have written about them before here. Umoo have recently added several new features which you might want to check out. First of all, they are adding another market to their offerings, namely the Singapore Stock Exchange (SGX), with real time market data. SGX should be launched in this month, and I am looking forward to try it out; more market hours and tournaments. Another addition to Umoo is the Daily Drawl; That is a daily give away of a free ticket to the next ‘Joyous Monday’ event with a $1,000 Guaranteed prize pool. And like everyone else, Umoo has joined in on the Twitter bandwagon, so you can follow them in real time to keep yourself informed. Lastly, Umoo is hosting a free stock trading webinar, so you can get a good start to your forex trading. Check it out here.

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FAP Turbo Swiss

Posted on 02. Jul, 2009 by Jakob.

The highly popular Expert Advisor, FAP Turbo is coming out in a new version called FAP Turbo Swiss. It is to be released July 14th; The information about FAP Turbo Swiss is still very limited but from what I have heard, they have made some changes some of the problematic aspects associated with FAP Turbo. Although FAP Turbo did show good results, it depended a lot on which settings were used, as well as which broker the EA was applied to. Obviously this created some constraints for the users. All this should be changed with the new Swiss edition. Apparently it will only be able to trade one pair, with specific settings, and there is only one broker to use (Rumor about dukascopy), and cannot be used along with MetaTrader 4. This is both good and bad, as traders often tend to use one broker, hence it might be necessary for them to open a new account with another broker in order to use FAP Turbo Swiss. However, it eliminates the frustrations of choice, both in terms of broker choice and settings. The price for FAP Turbo Swiss is still unknown, so I can’t say anything about that. My guess is that is that it will be prices close to the price of the original FAP Turbo, but who knows. I will be interesting to get more information about this, and I am sure we will in the upcoming days. The FAP Turbo has been the most talked about and best rated EA for a long period now. These guys seem to know what they are doing, so this could turn out to be a good choice. What is your thoughts on the FAP Turbo Swiss? I will write some updates on the FAP Turbo Swiss when I get more information.

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