TradeProfits

Update on current trades

Posted on 22. Sep, 2009 by Jakob.

Some days ago I wrote a post about a possible short EUR/USD trade. You can check it out here. However, things turned out a bit different than expected, and I actually took a long trade on USD/JPY instead of a short EUR/USD, due to different aspects; specially because both the EUR and USD was strong and the JPY was week. The trade was good for about 50 pips. Stop loss was moved to break even, and the pair turned around and hit my stop loss. So this was 0 pip trade. Next off we started to see EUR getting weaker, and EUR/USD started to drop. Even though I wanted to enter a trade around 1.4750 – 1.4800 as mentioned in my last post, I changed my mind and took a short trade. This one got stopped out for – 100 pips or – 1%. The USD/JPY kept going down and I put a “buy limit” in at the neatest support level, in the expectation that it would go back up. The trade was triggered, and stayed around this level before it finally broke through the support level. The trade is still open and is currently about -50 pips (-0.5%). As the EUR/USD rallied back up, and got close to 1.4800 I took another short trade, as this was the starting point, where I actually wanted to enter. This trade is also open, and is currently trading just around break even.  Read more... (289 words, estimated 1:09 mins reading time)

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First day with FxBossTrading

Posted on 22. Sep, 2009 by Jakob.

Yesterday was my first day with FxBossTrading (Read the preview here). Yesterday I got an email, close to midnight (GMT) with a Sell stop order on GBP/JPY at 148.75 and a stop loss at 149.75 (100 pips). There is nothing about any TP level, so my guess is that I will get an email whenever they exit the trade. Furthermore, there is no information about risk/reward, so you will have to work on your own money management, when trading these signals. However, from their website, it seems like they host a webinar every now and then, which is probably a good place to get more information about such aspects.  Read more... (139 words, estimated 33 secs reading time)

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Preview of FxBossTrading

Posted on 21. Sep, 2009 by Jakob.

Actually I wanted to do a review of Tom Strignano’s FX Signal before this one, but sometimes things don’t always go as planned. So the review of Tom Strignano’s FX Signals will be posted in a week or two. Now back to FxBossTrading.  Read more... (363 words, estimated 1:27 mins reading time)

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Forex On Twitter – 4xTwits.com

Posted on 21. Sep, 2009 by Jakob.

Today when I was looking at Google Analytics, I realized that I had some traffic coming from a website called 4xtwits.com. I went to check it out, and it is a rather cool page. You have probably heard about stocktwits.com which is a website which interacts with twitter, but with a specific focus on stock trading. Obviously there is a market for the same page, just with a focus on forex. And that is exactly what 4xTwits is. There seems to be a lot of activity with people posting forex related messages. It seems to be a good place to get knowledge about important aspects in the market. However, you need to be critical, as people will post trades in opposite directions every minute. Check it out. It’s pretty cool.

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Possible EUR/USD trade

Posted on 21. Sep, 2009 by Jakob.

This is an update to my last post about the EUR/USD, which you can read here. As mentioned, I am looking for a short entry on the EUR/USD, and things start to look better. However, nothing is certain. If I do take the trade I will post it on twitter and send it out to my newsletter subscribers.  Read more... (486 words, estimated 1:57 mins reading time)

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Preview of Tom Strignano’s FX Signal

Posted on 16. Sep, 2009 by Jakob.

Back in March 2009 I reviewed Tom Strignano’s eBook, Forex Confidante which you can read here. Overall the book was rather good, and way better than the majority of other forex books on the market. Tom Strignano claims to be an ex-bank dealer, positioned as Chief Dealer, who started his career at Deutsche Bank. This obviously gives him a hell of a lot more credibility than so called forex gurus with no real life experience. Now he is back with a new offer; a forex signal service called Tom Strignano’s FX Signal, and it is a rather expensive one, I might add. He has three different offers, where the main difference is the number of pairs which you will get signals for. The prices starts at $297 per month for two currency pairs, the next offer is four pairs for $397 and the last one is ten pairs for $497. Now the “smart” trader will soon realize that it should be advantageous to go with the last offer; most bang for your bucks.  Read more... (477 words, estimated 1:54 mins reading time)

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Forex Brokers – Another ”100 list” hists the road

Posted on 16. Sep, 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... (268 words, estimated 1:04 mins reading time)

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EUR/USD close to 1.4700

Posted on 16. Sep, 2009 by Jakob.

Click at the picture below, to see the chart of the EUR/USD. The pair is currently trading at 1.4662. Last time the pair traded at this level was in the middle of December 2008.

 Read more... (182 words, 1 image, estimated 44 secs reading time)

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And the winners are…

Posted on 13. Sep, 2009 by Jakob.

Friday September 11th, the contest ended, and I had a lot of submissions. I guess a lot of people would like to know more about Trader Outlook. I have picked three winners out of all my newsletter subscribers. Here goes:

- Eric Beeson
- Pam Morris
- Geoff Arial  Read more... (91 words, estimated 22 secs reading time)

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Dead Internet Connection

Posted on 13. Sep, 2009 by Jakob.

Sorry guys. I know I promised to post the results last Friday. However, I lost my internet connection and I have no idea what´s wrong. On monday the owner will be back, and hopefully I will get my internet connection back. Right now I only got 5 minutes at a net cafe. Results will be posted as soon as I am back online.

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