Update: Nov 30 2008

Folks I am currently working on a project outside of the Forex world which will take up most of my time. I plan on completing this by end of December. So while it pains me to postpone my gains on Forex, I do want to get this other project under my belt.
I will therefore not be trading during the month of December 2008 but will be back Jan 2009.

Good Luck trading, feel free to drop questions or emails as I will be checking them.
We'll get back to trading in January.....Have a safe holiday season and wish you a Merry Christmas and a Happy New Year in advance

Forex Trades for Tues Nov 4, 2008 - 9:25 pm EST

As at the time of this writing I still have my AUD/USD buy trade open from last week. While at the end of Friday it was approx 180 pips in the plus today it was over 550 pips in the positive. At the moment it is still about 450+ pips in the positive and I am going to let it ride for some more time.

My trailing stop placed at 100 pips is now at 0.6600 while I purchased the pair at 0.6450 so I am guaranteed a profit of 150 pips even if the market reverses at the moment.

Currently on the hourly charts the pair is retracing a bit but a new low has not been created and neither has it breached the 50 SMA nor the long term support line. I am anticipating it to continue to rise further till about 100% of the earlier Fibonacci. The price did touch the 0.7000 mark and has retraced from there.

For tonight I am not placing any additional trades but will wait for the right opportunity. I am already up more than 200+ pips for the month and it is still the first week of November.

Please do visit my website www.myforexdna.com should you be interested in forex education and putting a game plan for your own trading pursuits.

1177 pips for October 2008

My trades netted approx 1177 pips in profits for the month of Oct 2008 .... not bad, beat my target of 500 pips a month.
I did not close the AUD/USD trade Friday but let it remain open. I have moved the stop to capture a 50 pip profit.
It was open for a 180 pip profit as there was considerable retracement on the currency pair.

However today morning it is back up at approx 315 pips in profits and I am going to let it run for a while to check where it ends up. I may close it later depending upon market conditions.

No trades for last night or today morning, but will probably have some trades or analysis for you tonight.

Please do visit www.myforexdna.com to put a game plan around your trading and get some education.

Forex Trades for Tonight - Wed Oct 29 2008

Based on last night's trades the results :

EUR/USD and USD/JPY both lost
One trade for AUD/USD closed for profit and the other is still open

Net loss of 155 and open trade of 400+ pips hence net open profit of approx 250+ pips for one day....

Watch video for analysis and remarks including trailing stops, limits for the open trade...

Trades for Tonight - Oct 28 2008 11:20 PM EST

Have 3 orders tonight
AUD/USD
EUR/USD
USD/JPY

Please watch the video to see details of orders and the analysis of the orders.

Trades for Tonight - Monday Oct 27, 2008 9:55 PM EST

see the video to watch the analysis. No trades tonight, however may place a trade for the USD/JPY based on the break out if it occurs tomorrow morning. Watch video to see details




or click the link here

http://www.youtube.com/watch?v=tuF7ExoNmw8

Update - Sunday Oct 26 2008

Folks,
I have now updated my website www.myforexdna.com to reflect videos on Fibonacci Trading Step - By - Step ... videos are at www.myforexdna.com/FibonacciTrading.html

No trades for tonight as I did not get the time to do my analysis as I was busy updating the website.

Based on price action last week, I do not think I would have placed any trade tonight anyway.

Till tomorrow have a great day and do watch the videos and look forward to more of them.