Morning all.
The GBP/AUD short we had open has just closed at a 586 pip profit [some of you may have got more pips if you got in late].
Stay tuned.
Hi Moto,
Will you be posting intraday signals as well?
Hi canialegui,
I do trade short-term as well [I have a 15 minute scalp/intraday system and the daily system], but im not going to post up the short-term signals at the moment as they are not as straight forward.
But thats not to say I wont in the near future.
Thanks.
Morning.
Our AUD/CAD position closed very early this morning, giving us a healthy 302 pips profit.
Stay tuned.
No more trades??? 
[B][U]Why Forex?[/U][/B]
There really are so many benefits and advantages of trading forex. Below are just a few reasons why so many people choose FX:
[U]No commissions;[/U]
No clearing fees, no exchange fees, no government fees, no brokerage fees.
[U]Tax benefits;[/U]
Depending on the country, FX gains maybe tax free.
[U]No middlemen;[/U]
Spot currency trading cuts out the middlemen, allowing you to trade directly with the market.
[U]Low transaction costs;[/U]
The retail transaction cost (the bid/ask spread) is typically less than 0.1% under normal market conditions. At larger dealers, the spread could be as low as 0.07%. Of course this depends on your leverage and all will be explained later.
[U]A 24-hour market;[/U]
There is no waiting for the opening bell. From the Monday morning opening in Australia to the afternoon close in New York, the forex market never sleeps. This is awesome for those who want to trade on a part-time basis, because you can choose when you want to trade: morning, noon, night, during breakfast, or in your sleep.
[U]No one can corner the market;[/U]
The FX market is so big and has so many participants that no single entity can control the price action for any extended period of time.
[U]Leverage;[/U]
In forex trading, a small deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum.
[U]High Liquidity;[/U]
Because the forex market is so enormous, it is also extremely liquid.
[U]Low Barriers to Entry;[/U]
Online forex brokers offer “mini” and “micro” trading accounts, which can be set up with minimal funds.
Hello everyone,
There wont be anymore ‘new’ trades from now on. There are still 7 positions that some of you may have open and I will still give running management for those.
I will be posting up a blog/analysis from now on.
So you will still be able to get a free education from a professional but there wont be anymore free trade signals posted on here.
Kind regards
BLOG;
The EUR/GBP has been in a distribution type range since around the 16th of may. This is the outcome following a continuation lower in its long term trend.
The last continuation in long term trend, the fall in price from around 8500 to the lower of this year 7950 was approx 550 pips in length, a nice distance on the EUR/GBP considering the pip value.
The previous trend continuation was from around 8800 down to 8250 around how many pips? oh what a surprise about 550 pips.
The EUR/GBP has really been going down since the economic crisis began in late 2008 and in this time is been reasonably predictable in the way its moved, discounting the odd bit of random volatility.
The current price action is around 8050 and currently appearing to retrace/correct its last major long term move [the drop from 8500 to 7950] to find dynamic support somewhere between 8250 and 8000, quite possibly somewhere in the middle.
It is also worth considering that the price is currently sitting on months of support [previous price action] from early to mid 08 [pre crash] and that could cause a considerable correction higher if is strongly respected.
Once this has happened and the last major move has been corrected it is reasonably likely that unless there is some magical euro zone cure that the EUR/GBP will then continue its long term trend [since 08] and push lower possibly into the 77’s. [even lower if the 08 support mentioned above is broken easily 7500??]
Hi Motormadj,
What trading system are you using? I have just started reading lot of blogs, books and doing temp account with Tradestation. Will you able to guide me? I am very much impress with your system. I don’t know what it is but results are unbelivable… Thank you.
Forgive me for my english.
Bomi:59:
Hi Bomi,
My trading system is based purely on technical analysis [ mostly dynamic support and resistance ].
Your doing all the right things, educating your self and practising is the foundation of becoming successful at fx.
If you genuinely want to learn how to trade profitably, theres no substitute for hard work, its take a lot of time and effort but if you stick at it, it will happen.
Email me at; <[email protected]> if you want to talk more.
Kind Regards,
I have replied to your email Bomi.
So has anyone subscribed to westfx.co.uk? recommendations?
Motormadj- can you offer a trial service or monthly payments? to hand over 1000 pound is quite steep. Do you have an independant website tracking your trades so we can see p/l, drawdowns, etc…
Hi Marjab,
No trial period as they can be easily abused, ie people rejoining with different details etc.
There is the full money back guarantee though.
With regard to the membership cost its placed competitively in the market place and will more than pay for itself. However, If the trades aren’t profitable [very unlikely] then you get your membership fee back, guaranteed.
The performance so far this year has been posted up on this thread, so all members and potential members can see that they have been profitable.
To give added reassurance the website is currently having its performance verified by an independent accountant and will show confirmation of this within the next week hopefully.
Kind regards.
What about some quick stats?
RR, P/L, Drawdown, etc…
Why wont you publish these numbers?
The performance is partly down to the member.
For example if the member chooses to expose more than 3% per trade [proper risk management is recommended] then gains will obviously be greater on profitable trades.
The raw number here on the thread are clear to see, they have never been edited or touched in anyway after the original posting.
The 7 current open positions are at the moment of writing this 1,379 pips in profit.
All 7 are in profit, the highest pip gain is currently 396 pips profit, the lowest gain is currently 10 pips.
There are NO large open lossing trades or hidden trades.
All the information above is correct at the time of writing.
Regards.
Quickly going back to the membership cost, if you and Bomi for example joined together, then you would both get 25% off, so almost £500 off.
I subscribe to a service which costs $2200 a month,
they trade news, give perfect daily key levels, and have live trading rooms a few times a day. They charge a monthly fee of about 185 a month. This is easier then the whole year up front to a young service such as yours.
If you dont mind me asking, which service is that? and does it actually make you money?
I understand why you may prefer to pay montly but I only accept annual payments.
Regards.
i cannot email you, can you email me.