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/