Trade Explanation and Trades for Tonight - July 31 2008

Click on the images below to see the details and then hit the browser back button when done:

The status of my account is shown below and I am leaving my trades open. I have also revised the limit on the USD/CHF (see below). I have shown the rationale for my trades in the charts below.
Overall the US economy has been weak which would have resulted in a weaker dollar but the consequential impact to oil consumption (lower consumption = higher inventory) has sustained the dollar at its current levels. The major FA tomorrow (Non Farm Payroll) will definitely lead to breakouts.
Normally I would have cashed in my trades, but given they are at a loss I am going to leave them open because I am trading in favor of the basic fundamentals and the charts appear to be in my favor as well (I hope I turn out to be correct tomorrow).

Feel free to email me with any questions....

New Trades for Tonight - Wed July 30 2008 at 10:00 PM EST

Today we had a net booked loss of approx 55 pips, with a floating loss of approx 70 pips (USD/JPY is still open). NZD/USD closed at a profit and USD/CHF closed at a loss.

The above are trades for tonight along with my open trade for USD/JPY. I am going to let it ride.

While this month has not been good in the later half, I am going to start posting additional information from next month about the analysis so some of you can get an idea of how I place my trades.

New Trades for Tonight - Tues July 29 2008 10:00 PM EST

Click the image above to see the status of my account including the new trades for tonight. Keep pending trades open and let them ride. The USD/CAD has no limit set as we want to ride this trade for a few days if it goes in the correct direction. I cancelled the GBP/USD as it did not execute.

This has been a poor month so far even though we are slightly up for the month. Very poor compared to my goal of 500 pips.

I am currently working on 3 different systems I am trying in 3 different accounts and hence it has become difficult to keep up and also post details.

I am also trying to hire a web site company to do a website where I can have everything in one website instead of 3 different sites currently.

So bear with me as by the middle of next month I should hopefully have more time on my hands

Trades for Tonight - Monday July 28 2008 - 7:00 PM EST

Click the above image to see the status of my account and the orders for the day. The NZD/USD did not execute and we will continue to place it again.
We are still in the positive for last week and this week and overall 200+ pips for the month.

This week should not have major movements as it is full of Fundamental Announcements and so the movements should primarily be from these unless major world and economic events happen.

If in the morning you are in the profit by over 25 points I would suggest you move your stops to the open price of the trades and let the trades ride out.

Feel free to email me with any questions and also visit my site at www.myforexdna.collectivex.com

Trades for Tonight - Sunday July 27 2008 8:00 PM EST

Last week was a loss leader for me. But we are still 23 points in the plus for last week and overall 223 points for the month. I had to leave on Friday and was forced to close my trades at a loss, but left the USD/CHF trade open and could not close it before the weekend so I am going to let it remain open.

If any of you had not closed their trades Friday you can leave the trades open for tonight.

The following is the trading position for my account:

Please place trades per my account summary below:

Trades for Tonight - Thursday July 24, 2008 - 8:40 PM EST

Click on the image below and then hit the browser back button when done:




The above is the status of my account and the orders for tonight. I am going to let the AUD/USD and the EUR/USD continue to run.

We are in the plus overall today, though the day was a whipping on prices.

The additional trades for tonight are:

USD/CHF:
Sell: 1.0345
Stop: 1.0465
Limit: 1.0225

NZD/USD:
Sell: 0.7380
Stop: 0.7455
Limit: 0.7320

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.If any of your trades do not execute in the morning just cancel them.

I would suggest you close out all your trades Friday evening before close of trading day or during the day.

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for Tonight - Wed July 23, 2008 - 7:50 PM EST

Made up significant lost ground today. Made over 135 pips (lost 120 pips on the USD/JPY, made 90 pips on the NZD/USD and 66 pips on the EUR/USD) Closed the EUR/USD for a profit of 66 pips. Hence up for the day by approx USD 128 after the rollover fee. See summary below:

The orders for tonight are as under : (click on image below and then hit the browser back button when done):

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.
If any of your trades do not execute in the morning just cancel them. I would suggest you close out all your trades Friday evening before close of trading day or during the day.

The new trades for tonight are :
EUR/USD:
Sell: 1.56650
Stop: 1.58150
Limit: 1.55150

AUD/USD:
Sell: 0.95900
Stop: 0.96900
Limit: 0.94900

I would have recommended the NZD/USD as well, however my prices have already been breached.

I would highly recommend if your trades have not executed by morning please cancel them.
If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Feds to increase interest rates ??

I am amazed and cannot believe they are actually considering this. This could only benefit the big interests.

It was amazing they sent out the stimulus package thinking they could make people spend and boost the economy. How much more ridiculous can we get !!

I would rather cut the rate a full point (1%) for 6 months. This will do the following:

1. Allow people who are in bad mortgages but still in good shape to refinance into a more stable mortgage
2. Allow the banks to rebalance their mortgage portfolio whereby we do not have to bail out the financial institutions (when these folks make a loss, its greed gone rampant and stupidity at its height, after all these are the guys who are full of analysts and they are the market makers, Shows how much they can manage their own money much less ours)
3. Provide respite to homeowners and give them relief in terms of their monthly mortgage payments and hence allow them to retain homeownership
4. Inflation will not go rampant as most folks will now be cautious about just spending away (and if they are stupid enough to do that, well it will stimulate the economy without us having to hand them a check)
5. It will stimulate employment as someone has to process all these loans
6. It will stablize the housing sector

When the dust settles, we can look at other options, but bail outs and increasing interest rates is not the first choice.

The inflation numbes can be cooked any which way but the major contributor is the price of oil, not out of control spending by the common citizens.

I hope they start taking some serious steps that make sense instead of politicizing the situation.

God bless America and lets hope we do the right thing this time around.

Please respond with your views

Trades for Tonight - Tues July 22, 2008 - 8:10 PM EST

Wow, quite a horrible two days. We lost all our earnings of last week in an attempt to tweak my stops. Also I misread the market, like I had mentioned I should have placed a sell order for the EUR/USD once the market bounced up as all the classic signs of reversal existed. Any way no excuses, we live and learn. We are still up approx 200+ pips for the month including the floating loss of approx 90 pips on the open USD/JPY trade.

The following are the orders for tonight:

Also I am going to leave the USD/JPY and the NZD/USD trades open.

New trades:

GBP/USD:

Sell: 1.9880

Stop: 2.0010

Limit:1.9750

EUR/USD:

Sell: 1.5750

Stop: 1.5900

Limit: 1.5600

I would highly recommend if your trades have not executed by morning please cancel them.

If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com

Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Answer to question

I was asked by ForexTime at http://www.myforexdna.collectivex.com/
"Doc Fx, Why was it that you had buy and sell for EUR/USD for Sunday trade."

Click the image below to see details and then hit the browser back button when done



As you can see the classic conundrum for any forex investor is getting multiple signals and the difficulty in knowing where the market will go next.

While the economic fundamentals in the long term continue to be bearish for the USD, the temporary relief in Oil prices could make it rebound. However the fall of the financial markets make it weaker.
Setting aside fundamentals, the charts depict resistance around 1.6000 tested twice and could potentially be tested a third time.
Further as can be seen there is a sideways channel between 1.6000 and 1.5300 now since mid March 2008. There is also an upward channel formed since June 2008 and an ascending triangle (continuation patterns). However there is also an evening star formation where the Doji is depicted at resistance level leading to a classic indication of a reversal.
Hence both a buy and a sell trade to hedge and cash in on either scenario no matter which direction the market goes. My sense is the price may hit the upper channel and the tip of the triangle and may bounce back down and reverse in the near term, but I could be wrong.

Hope this clarifies the trades.

Great question.

My trade signals for the day are in the previous post below.

Trades for Tonight : Monday July 21, 2008 at 7:00 PM EST

Today I lost 45 pips on the EUR/USD trade because I had moved the stop loss up from its original position. I am trying variations and tweaking my method, to see if we can lower our risk exposure. However it did not work today. The price movement hit revised stop loss and then reversed and for those that had the original stop loss in place would have made approx 30-35 pips by the end of the day. Further I forgot in my rush to close the NZD/USD trade in the morning as it had not yet executed and it got executed later during the day. I am in the negative at the moment on that trade, but my analysis shows the trade is still valid and hence I will keep it open.

The following is the summary of my account position as of tonight: (click on the image to see details and then hit the browser back button when done):


Further details are available at www.myforexdna.com

The following are the trades for tonight and in addition please carry the NZD/USD trade from yesterday: (click on the image to see details and then hit the browser back button when done):

The trades for tonight:

USD/JPY:

Sell: 106.30

Stop: 107.50

Limit: 105.10

EUR/USD:

Buy: 1.5935

Stop: 1.5785

Limit: 1.6085

NZD/USD (yesterday's trade):

Sell: 0.7595

Stop: 0.7685

Limit: 0.7505

I would highly recommend if your trades have not executed by morning please cancel them.
If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for Tonight - Sunday July 20, 2008 - 9:30 PM EST

The orders placed for tonight are shown below: (click on the image below to see the details and then hit the browser back button when done)

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.

If any of your trades do not execute in the morning just cancel them. I would suggest you close out all your trades Friday evening before close of trading day or during the day.

The new trades for tonight are :

EUR/USD:

Sell: 1.5800

Stop: 1.5950

Limit: 1.5500

EUR/USD:

Buy: 1.5890

Stop: 1.5740

Limit: 1.6040

NZD/USD:

Sell: 0.7595

Stop: 0.7685

Limit: 0.7505

AUD/USD:

Sell: 0.9695

Stop: 0.9795

Limit: 0.7505

I would highly recommend if your trades have not executed by morning please cancel them.

If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

280+ pips for the week, 480+ pips for July 2008 month to date

Today the market was a bit listless and currencies were primarily ranging. None of our orders were executed by morning so I ended up cancelling the orders.

But what a week it has been. We are now up 280+ points for the week and 480+ points up for the month of July 2008 so far.

I shall post new signals Sunday evening / night.

Have a good and safe weekend and enjoy the summer.

Trades for Tonight - Thursday July 17, 2008 - 8:00 PM EST

Wow !! The USD/JPY executed and completed at the full 80 pips profit. I cancelled the other two trades in the morning since they had not yet executed. We are now 480+ pips for the month. We have nearly achieved our target of 500 pips for the month and we are only slightly over half a month into the month !!

But what swings the currency had.
First the economic data and then it turned out that Oil futures are being traded by Mexico to hold prices at today's levels indicate maybe the Oil prices have peaked further weakend the Oil and strengthened the USD. See the article on CNN Money ( http://money.cnn.com/2008/07/17/news/international/mexico_hedging/index.htm?postversion=2008071717 )

The state of my profit position for today is shown below: (click the image below to see details and then hit the back button on the browser when done)

The orders placed for tonight are shown below: (click the image below to see details and then hit the back button on the browser when done)

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. This will show the results for the new practise account that I have opened during the month. The site is still under construction but the main points are now available.

If any of your trades do not execute in the morning just cancel them. I would suggest you close out all your trades Friday evening before close of trading day or during the day.

The new trades for tonight are :

USD/CAD:

Buy: 1.0085

Stop: 0.9985

Limit: 1.0185

USD/CHF:

Buy: 1.0265

Stop: 1.0170

Limit: 1.0385

NZD/USD:

Sell: 0.7580

Stop: 0.7650

Limit: 0.7490

I would highly recommend if your trades have not executed by morning please cancel them.

If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose or move your stop to equal the opening price and let the trades ride. This way you are in a no loss situation.

I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trading Signals for Tonight - Wed July 16, 2008 8:30 PM EST

The USD did have a correction and Oil sank again for the 2nd consecutive day. It was a good thing I did not place trades yesterday. Further with discussions between US and Iran it is unsure what effect will be reflected on the USD and Oil prices. There is a certain amount of uncertainty and likely hood that there may be a bit of a whiplash in the market tomorrow.

The order placed are shown below: (click on the image below to see the details)

I have fixed my website http://www.myforexdna.com/ where you can see the details of my brokerage account and I will post the trades as they show on my brokerage account there shortly tonight. The site is still under construction but the main points are now available.

If any of your trades do not execute in the morning just cancel them. I would suggest you close out all your trades Friday evening before close of trading day or during the day.

The new trades for tonight are :

USD/JPY:
Buy: 105.25
Stop: 104.45
Limit: 106.05

EUR/USD:
Sell: 1.5795
Stop: 1.5860
Limit: 1.5700

NZD/USD:
Buy: 0.7735
Stop: 0.7680
Limit: 0.7820

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for Tonight - July 15, 2008 - 9:40 PM EST

The above is a snap shot of my new practise account (since the last one expired). Made 200+ pips today !!
Total for the month = 400+ pips and for year to date (since June 2008) = 700+ pips.

All trades were in the positive today.

I think the market will do a minor correction tomorrow and hence I will stay out of the market for tonight. Hence no signals today.

I am in the process of creating a website where you can actually download my brokerage account to see the details of my trading activity which corresponds to all the signals that I post on this blog. Go to www.myforexdna.com

For free systems or discussions go to www.myforexdna.collectivex.com

I am in the process of hiring a web developer to have an integrated site up and running shortly which will eliminate the need to go to different places.

I am also looking at trading non USD currency pairs. I will do so starting next month. This will be the first time I shall be doing this so bear with me initially.

I have also started a discussion post on www.myforexdna.collectivex.com to help in transition from practise to live trading and how I would go about doing this. Slowly and conservatively to ensure we do not mess it up.

Feel free to email me with any questions at docfx@myforexdna.com

200+ pips for the day, 400+ pips for July month to date

Wow, the dollar has taken a beating in the European session !!
I closed my trades for the USD/CAD and USD / CHF prematurely booking the profits while the EUR/USD ran it course for the full 80 pips.

I shall post the details later in the evening.

Accordingly we are up approx 700+ pips between June and July 2008 to date so far.

Trades for Tonight - July 14, 2008 - 10:40 PM EST

My practise account expired and hence the amount will be reset to begin at USD 5000/- and I shall post the balances tomorrow based on the trading results.

If any of your trades do not execute in the morning just cancel them.I would suggest you close out all your trades.

The new trades for tonight are :

EUR/USD:
Buyl: 1.5940
Stop: 1.5870
Limit: 1.6020

USD/CHF:
Sell: 1.0130
Stop: 1.0250
Limit: 1.0010

USD/CAD:
Sell: 1.0040
Stop: 1.0130
Limit: 0.9950

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades BEFORE MIDNIGHT EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for Tonight - July 13, 2008 - 8:10 PM EST

While I am still bearish on the dollar, there should be a short term correction in the market after Friday's huge losses for the dollar. Given banks failing and oil prices out of control, the govt should be intervening making the market a bit unpredictable.
Given Sunday the US markets are closed I am going to refrain from trading till tomorrow when I shall post more signals.
I do see on the charts a slight correction in favor of the dollar and am going to try and scalp a few pips.
So until tomorrow no trading....

Up 201+ pips so far for the month of July 2008

Folks, unfortunately my practise account expired and hence do not have a report from the brokerage account itself.
However what a great day for profits.
I lost 120 pips on the USD/JPY trade as the dollar weakened due to Oil prices, but gained on both USD/CHF and the EUR/USD trades.
Made 120 pips on the EUR/USD trade and
made 100 pips on the USD/CHF trade

Hence the net result was

USD / JPY = -120
USD / CHF = +100
EUR / USD = +120
GBP / USD = -54

Net profit = +46

Add that to the earlier profit of 155 pips during July gives us a total approx 155 + 46 = 201 pips.

Add that to the June profits of 324 pips = 324 + 201 = 525 pips for the months of June and July to date.

I will have to open a new practise account later tonight and will post my trades and analysis later during the day.

Feel free to email me or visit http://www.myforexdna.collectivex.com/ for a discussion.

The USD/JPY trade is still open for the last two days. I am totally about 60 pips in the negative. I am going to let the trade run.

The fluid situation with Iran firing the missles for the 2nd straight day is causing the market to be ranging with uncertainty hanging inspite of better than expected unemployment data.

If any of your trades do not execute in the morning just cancel them.I would suggest you close out all your trades Friday evening before close of trading day or during the day.The above is a snapshot of my practise account as of tonight. From time to time I shall upload the status of my account balance. Unfortunately I am not able to upload pdf files on this blog else I could have posted the details of the transactions.

The new trades for tonight are :

Please note tonight I have a buy and a sell signal for the EUR/USD.

EUR/USD:
Buy: 1.5810
Stop: 1.5740
Limit: 1/5920

EUR/USD:
Sell: 1.5740
Stop: 1.5820
Limit: 1.5620

USD/CHF:

Sell: 1.0250

Stop: 1.0325

Limit: 1.0150

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades BEFORE MIDNIGHT EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.
I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Trades for tonight - July 8, 2008 6:55 PM EST

I am in the negative today by about 75 pips. The Iran missile firing is primarily attributed to the market reversals and the weaking of the dollar due to the effect on price of oil.



The GBP /USD trade did not execute and hence I cancelled the order in the morning. I let the USD/JPY run and will let it run for the night.

I do not have signals tonight as I have not had the time to finish my analysis and I am spending the night with family.

Will be back late night and might post additional trades else tomorrow I will post more.

TRADES FOR TONIGHT - JULY 8, 2008 - 9:25 PM EST

The above is a snapshot of my account balance as of tonight after today's loss.

Lost approx 52 pips today on the USD/CHF trade. Closed the trade in the morning for a loss at approx 8:30 am. The weaking of the Oil continued to make the dollar stronger today. Of course as mentioned I cancelled the remaining trades as they had not executed by morning.

If any of your trades do not execute in the morning just cancel them.I would suggest you close out all your trades Friday evening before close of trading day or during the day.The above is a snapshot of my practise account as of tonight. From time to time I shall upload the status of my account balance. Unfortunately I am not able to upload pdf files on this blog else I could have posted the details of the transactions.

The new trades for tonight are :

USD/JPY:

Buy: 107.60

Stop: 106.55

Limit: 108.80

GBP/USD:

Sell: 1.9660

Stop: 1.9740

Limit: 1.9530

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades BEFORE MIDNIGHT EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.

I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

TRADES FOR TONIGHT - JULY 7, 2008 AT 9:40 PM EST

I have already posted the status of my practise account earlier today (see my previous post).

The market was volatile today due to the Iran situation and oil fell approx $5 per barrel thereby leading to a stronger dollar. Our trades were mostly favorable and I closed the GBP/USD and the USD/JPY in the morning prematurely. I am up about 155 pips for month to date.

If any of your trades do not execute in the morning just cancel them.I would suggest you close out all your trades Friday evening before close of trading day or during the day.
From time to time I shall upload the status of my account balance. Unfortunately I am not able to upload pdf files on this blog else I could have posted the details of the transactions.

The new trades for tonight are :
EUR/USD:
Buy: 1.5760
Stop: 1.5610
Limit: 1.5910

USD/CHF:
Sell: 1.0220
Stop: 1.0340
Limit: 1.0100

USD/CAD:
Sell: 1.0145
Stop: 1.0235
Limit: 1.0055

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer, please close your trades else around 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades BEFORE MIDNIGHT EST but after 10:00 pm EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/

Up 155+ pips for the day - July 6, 2008 - 7:20 AM EST

I closed my trades today morning around 7:15 am since I will not be able to access my computer and since I am happy with the amount of profits for the day. I placed my trades last night and they executed a bit earlier than expected but the results have been very satisifactory. Further I am not sure if my current practise account will be deactivated tonight or not and I will have to open another account in which case I would have lost trail of my trades as I did not get a chance to place my trades thru another broker last night.

I will post new signals tonight again.

Feel free to post questions or email me at myforexdna@yahoo.com

Trades Signals for Tonight - July 6, 2008 at 9:45 PM EST

The market has been slow and consolidating given the US holidays. Not much action but I think the following trades will be good. Further my demo account may get deactivated tomorrow and I may have to open a new one since 30 days will be up tomorrow. If that happens I will still try to let you know how the trades went based on price movements. I will also try to place the same trades thru a different broker.

If any of your trades do not execute in the morning just cancel them.I would suggest you close out all your trades Friday evening before close of trading day or during the day.The above is a snapshot of my practise account as of tonight. From time to time I shall upload the status of my account balance. Unfortunately I am not able to upload pdf files on this blog else I could have posted the details of the transactions.
The new trades for tonight are :
GBP/USD:
Sell: 1.9790
Stop: 1.9860
Limit: 1.9660

USD/JPY:
Buy: 107.05
Stop: 106.50
Limit: 108.15

I would highly recommend if your trades have not executed by morning please cancel them.If in the morning your trades are in the positive and you happen to be in front of your computer around 11:30 am feel free to close them if you so choose. I trade 1 lot at a time for the moment, unless I specify otherwise. Please place the trades BEFORE MIDNIGHT EST but after 11:00 pm EST provided the prices have not been breached already.Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/