Week of July 23rd, 2007
First off, I can't believe the response we had for our launch
of FX Nation Live this week (http://getresponse.com/t/9136020/577168/184560569/).
The first day (Tuesday) we had over 1000 members sign up and
the server crashed 2 hours after launch from all the traffic.
(we have fixed this, lol). I just want to say thanks to everyone
for making this such a huge success. I know FX Nation Live is the
premiere Forex site out there finally meeting the needs of all
individual traders by leveling the playing field and providing
institutional level tools never before available (unless you
worked on a dealing desk). The response has been overwhelming.
The managed account trading has resumed at FXLQ. We took some
small profits of around .5% this week while we hold the core
position.
Here is a recap of the Daily Video Commentary which you can
get for free each day on FX Nation Live:
Well, our patience this week paid off with a nice profit in
the USD/JPY this morning. We haven't had an executed trade all
week, although, several times our indicators kept us out of
trouble by negating trades at levels we wanted to enter at.
We were looking to go short on the USD/JPY at 119.10-30. It
hit this level right around midnight with very little buying
on the way up and we went short at 119.18. Our profit target
was 118.50 which it hit about 2 hours later. +68 pips.
Then, it spiked back up to 119.28 around 4:45 AM EST and was
showing buy/sell divergence at that point. Price made a new
high at 119.28 with a buy pressure of 91 but not even an hour
earlier, price had a swing high at 119.08 with buy pressure
at 95. So price had increased by 20 pips, but buy pressure
could not make a new high. We went short again at 119.23 and
closed the position at 118.68 after price made a new low, but
sell pressure did not make a new low. So, divergence got us
in and divergence got us out. +55 pips.
TOTAL PROFIT +123 Pips
EUR/USD-The selling was too strong going into the 1.3700 area,
however we did go long at the monthly pivot of 1.3640 and are
still open on that position.
GBP/USD-The selling was too strong into the 1.20400 level, so
we passed on this trade
USD/CHF-The buying was too strong into the 1.2080-1.2100 area
so we passed on this trade
This is a good lesson on how professional traders make money
consistently. Sit on your hands and stay out of trouble and
then when all conditions are perfect, pounce on the profit!!!
Sometimes, it's not exciting, but if you want excitment, go
to Vegas.
If you want to learn how to trade like this, check out:
http://getresponse.com/t/9136020/577168/184560569/
I look forward to chatting with you next week. -DC Bonta
Economic Calendar
Jul 31 10:00 AM Consumer Confidence
Aug 3 8:30 AM Nonfarm Payrolls
If you would like more information on trading with our auto
trade program, please call 888-882-2338 24/7 or visit http://getresponse.com/t/9136021/577168/184560569/
Weekly Trade Idea
This Week
The EUR/USD has corrected back down to the monthly R1 pivot
point at 1.3640. This could be a good area to go long up to
1.3742 which is the R2 pivot.
Last Week
If you would like more information on our trading please visit:
http://getresponse.com/t/9136020/577168/184560569/
Strategy of the week
Disclaimer: The information and opinions in this report are
for general information use only and are not intended as an
offer or solicitation with respect to the purchase or sale
of any currency. All opinions and information contained in
this report are subject to change without notice. This report
has been prepared without regard to the specific investment
objectives, financial situation and needs of any particular
recipient. While the information contained herein was obtained
from sources believed to be reliable, author does not guarantee
its accuracy or completeness, nor does author assume any
liability for any direct, indirect or consequential loss that
may result from the reliance by any person upon any such
information or opinions.
1StockTradingandInvesting
www.1stocktradingandinvestingsecrets.com
New York
NY 10005
United States
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