Tag Archives: free forex signals
Chat Room at TradeProfits
Posted on 26. Jan, 2010 by Jakob.
Yesterday I launched a new chat room here on TradeProfits, as attempt to improve my signal service. I sent a short email to all my subscribers, telling them about the room. The response was amazing, and although there are some small issues with the room, it seems to be working pretty good. The main reason for the new chat room, is both to share my signals and hopefully have some interesting discussions about forex trading, but also to get to know my readers better. If this chat room will be a success, I will probably change to a “better” one in the future. But this way, I can get an idea, if people like it or not. I have been talking to some of my readers and it has been really interesting! As for now, the room is password protected, since I still need to test how things work. One problem is, that I will not be in the room at all times, and obviously people would like to be informed about this. I plan on adding a calendar, so you can see when I will be in the room. I have been posting my trades on twitter today, and I will do so for the rest of the week, but my plan is, to move this into the chat room. If you would like access to the room, and help me test it, simply send me an email, and I will reply with the password. Any feedback is highly appreciated.
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Sean Joins TradeProfits Forex Signals
Posted on 13. Jan, 2010 by Jakob.
As I mentioned some time ago, I have been planning on bringing in a couple of guys to help me post forex signals. Today I am finally able to announce that one of my close friends, Sean will start posting forex signals for TradeProfits. In the beginning he will take the same approach as I have done, by posting the trades through twitter. Sean has a better educational background from a financial perspective than I do, and I am sure he can contribute with some winning trades. In order to give you guys a better understanding of Sean and his approach to forex trading, I made a short interview with him, posted below. All the trades Sean will enter will be posted in real time on twitter and the results will be posted here in TradeProfits (Trades (Sean)). Follow Sean on Twitter here. Be sure to subscribe to our newsletter and get more information about upcoming changes to our signals.
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December and 2009 in Review
Posted on 05. Jan, 2010 by Jakob.
After the first losing month in 2008 (November), December turned out to be a lot better. I had a total of 11 trades during the month of December. 2 of the 11 trades went in to a loss, 4 of them were winners and the remaining 5 trades were closed out at break even. In total I had a return of 20.52% return to my account balance for December, which makes it the best month of 2009. In spite of the large return, my risk management was controlled in the same manner as the previous months.
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Sive Morten – Update on the Forex Market
Posted on 29. Dec, 2009 by Jakob.
Sive Morten has just posted his weekly outlook, and as always he shares some interesting thought on the overall market, and specific details about the EUR/USD. Basically he argues that the short term Dollar strength remains intact, while from a long term perspective we might see a bearish trend for the Dollar. In my opinion I think we need to see the EUR/USD retrace a bit, before it will continue its bearish move. Currently the EUR/USD is trading at 1.4416. I entered a long trade on EUR/USD at 1.4341 so I am currently up about 75 pips (all details for this trade were shared on Twitter). I have moved my stop loss to break even, and I expect to see it retrace up to around 1.4541, and if that resistance level is broken then maybe all the way up to 1.4710. I might move my stop loss accordingly, if the pair keeps moving higher, and look to take profit if we come close to 1.4541. If this level is reached I might look for a possible short trade, or wait for it to break the current low of 1.4216. As always, be careful in these days, as low liquidity can result in large spikes within seconds. Check out Sive Morten’s weekly update here.
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Forex Peace Army – Signal Change & Updates
Posted on 16. Dec, 2009 by Jakob.
Forex Peace Army used to send forex signals out to their subscribers, one email per day, with trade recommendations for the upcoming day. However, a while ago, they changed this, and instead of one email, they started to send several emails, regarding the upcoming news events, and how to trade them. In the new way of delivering signals there is a stronger focus on news trading, and less on the overall market movement and correlation with the major indexes. Apparently not everyone enjoyed this new approach (including me), so the guys from Forex Peace Army sent out an email asking their members to vote for their favorite method. You can see the results here; it seems like we might go back to the old way again. In addition to the new daily signals which are made by Felix, you can still see the daily signal recommendation from Sir Pipsalot here, and the weekly outlook from Sive Morten here.
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November in Review
Posted on 07. Dec, 2009 by Jakob.
Here is to the first month with a negative result since I started posting my trades back in June 2009. Things did not go well at all, and I gave back a lot of the profit made in the last couple of month. I had a total of 12 trades, whereas 10 of them ended in a loss, 1 in profit, and the last trade was closed in a small profit but I counted that as break even, due to spreads. Basically I ended the month with a loss of 9.94%; a really bad result compared to the other months so far. What really affected the results this month was my attempt to short EUR/USD, several times. This pair has basically been consolidating within a rather large range the entire month and I simply did not wait for clear enough signals. I will do my very best to change this, for future signals. However, we did make everything back, plus more, in the first days of December; I traded the Non Farm Payroll, and this resulted in a total of 16.4% return on account balance. However, there is definitely room for improvement. More planning and sticking to it, and trend following, should do a lot. Let’s see how things play out in the last month of the year.
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October in Review
Posted on 31. Oct, 2009 by Jakob.
I actually started this month, believing that I wouldn’t be taking a lot of trades, and yet it turned out to be the month with the most trades, so far. However, as you all probably know (or should know), more trades does not necessarily imply more profits. I had a total of 18 trades, all posted on twitter in real time. These 18 trades resulted in +186 pips, and a 3.61% return on my account balance for October and a total of 14.66% since the end of June (See past performance here). Not amazing, but definitely better than last month. Of those 18 trades, 8 of them were closed out at break even. The main reason for this was my attempts to short the EUR/USD several times, when it reached 1.5000. Several of these trades were in profit close to 100 pips, but got stopped out at break even, anyway. I kept looking for a strong reversal, or at least a stronger retracement, around the 1.5000. There was a small break of this resistance level for about 60 pips, and then we had a beautiful reversal, with a drop of more than 200 pips in one day, and all the way down to 1.4717 where it’s currently trading. The remaining 10 trades were equally divided into 5 winning trades and 5 loosing trades. The average return in percentage on the winning trades was 1.62% and -0.9% for the loosing trades. Now there is definitely room for improvements. Looking back, I could easily have moved my stop loss to some 20 – 30 pips profit on the trades that got stopped out at break even. If I had chosen to take profit of 30 pips on 5 trades, rather than letting them hit break even, I would have had a much better percentage of winning trades, and my risk/reward ratio would still be intact. I might change my strategy slightly in the upcoming month to see if this will work in practice.
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Latest two trades for 357 Pips profit
Posted on 10. Aug, 2009 by Jakob.
August was going good and I was up around 1.8% a few days ago. Last friday, we had the NFP and a lot of action. Some pairs, specially the EUR/USD, had been trading in a range for some days, and it was obvious that the NFP would push it out of this channel, either up or down. I had already entered a short position on the EUR/USD before the NFP, as I actually though we would have seen the pair go down a bit. However, nothing happend, and I had to wait for the NFP. A few minutes after the NFP release, I went long on USD/JPY, and I stayed in the EUR/USD trade. I closed the trades last night, for a total profit of 357 pips, or 3.57% or my total balance. That brings me up to a total of 5.37% for August, or 537 pips. All trades was posted in real time on Twitter, and you should have been able to follow. I am still working on a better solution to get my signals out. But if you want to be sure not to miss anything, be sure to sign up for my RSS feed, and my newsletter, and I will let you know when I am about to make some changes.
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