[dpaterso]

Well - I just hope everybody appreciates this:

My 27 positions / 27 pairs that I have open at one broker - which were showing a nett profit of $3947.70 yesterday - are now showing a nett profit of $1169.33 as I type - and - I even watched the profit dwindle to somewhere around $500 today!!!

BUT!!! BUT!!! BUT!!!

As a show of good faith - and in keeping with my own advice - and to save face - I HAVE NOT CLOSED A SINGLE POSITION MANUALLY - AND WILL ALLOW EACH POSITION TO RUN TO ITS LOGICAL CONCLUSION BASED ON THE INDICATOR!!!

No - seriously - my first inclination is obviously to bale out - especially on the positions that are showing a decent profit - and there are quite a few (about five are around the $200 mark and there are quite a few more around the $100 mark) - but - I am tired of looking at historical data and saying to myself 'how come I got out here and did not let the trade run' and 'why did I not wait - just look at what I could have made' or 'now look - I closed the position and took a loss - and now look where the price is'. I have made THOSE statements many many more times in the last six or seven months than I have made statements like 'wow - I'm glad I got out when I did'! Get the picture?

So far - I think that because of what happened to the JPY and AUD since last Thursday - I got a false sense of security i.e. the initial immediate profits I made using this indicator this time round were inflated. Having said that - I do believe that although the profits to be made are not as great as they could have been i.e. not maximised - there will nevertheless be profits on most of the positions at the end of the day.

Of course - when things start going against you - you start flipping between different charts and different time frames and different indicators mainly I suppose to reassure yourself. One thing I did seem to see though - was that it certainly does appear that you could make more on smaller time frames - like 4, 2, and 1 hours - there just seems to be more movement and this, of course, goes against everything I have said here. On the other hand - having said that - all of my open positions have manged to 'ride out' every single bit of news data that has come out so far - and - just to give you an example - I'm pretty sure that when the BOE announces its interest rate position tomorrow (or the next day - can't think right now) - my positions will be able to take the spike - that's the difference - in my opinion anyway.

Put it this way - if this indicator does nothing else for you - it sure will teach you self control and patience!!!

Edit: the main 'problem children' seem to be AUD, CAD, NZD and ZAR. Why? My 'educated' guess is because - at the moment - Crude Oil is above $78 a barrel and Gold has been trying to get some direction the whole day. I reckon Oil is nearly at its top - and when that comes down - so will Gold - and I'll be a happy camper!!!

Regards,

Dale.