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/