Week of August 6th, 2007
August Daily Video Trade Results MTD: 8/10 +243 Pips
Hopefully this weekend (if everything goes smooth)we will be
permanently moved to our new dedicated server and we will no
longer have any speed or downtime issues with the site. These
are good problems to have because they are due to demand, but
we are trying to quickly work through these growing pains until
we are a well oiled machine.
The managed accounts took a realized profit of another 2% this
week bringing the total realized profit on closed positions to
over 4% while the core position is still down 10%.
Here is a recap of the Daily Video Commentary which you can
get for free each day on FX Nation Live:
We didn't score as high this week as we did during the Non-Farm
payroll last week, but we nailed 6 out of 7 trades for a profit
of 189 pips. Not bad. In August so far, we are 8 for 10 (80%)
for a total profit of 243 pips. Here were the trades from this
week:
8/7/2007 USD/CHF Short 1.1971 1.1911 60 pip gain
8/8/2007 USD/CHF Short 1.1995 1.1971 24 pip gain
8/8/2007 USD/JPY Short 119.83 119.5 33 pip gain
8/9/2007 GBP/USD Long 2.032 - (20) pip loss
8/9/2007 USD/JPY Short 119.71 119.41 119.12 119 53 pip gain Equivalent to 53 pip gain on 3 lots, scaling out 1 lot at each P/T
8/10/2007 USD/CHF Short 1.1994 1.1971 1.1958 19 pip gain Equivalent to a 19 pip gain on 3 lots, scaling out 1 lot at each P/T
8/10/2007 EUR/USD Long 1.3649 1.3671 1.3688 20 pip gain Equivalent to a 20 pip gain on 3 lots, scaling out 1 lot at each P/T
TOTAL PROFIT +189 Pips
*On trades with multiple profit targets, we are moving our stop
to the entry price once the first profit target is hit.
All of these trade set ups were available to FX Nation Live
members well in advance of the market moves via video and our
community blog. It's not surprising FX Nation Live is the #1
Forex website out there, not only do we provide profitable trade
set ups, but it's all FREE!!! Tune in for the next free video
at:
http://www.fxnationlive.com/members/blog/
I look forward to chatting with you next week. -DC Bonta
Economic Calendar
Aug 13 8:30 AM Retail Sales Aug 13 8:30 AM
Aug 14 8:30 AM PPI
Aug 14 8:30 AM Trade Balance Jun - -$61.0B -$61.0B -$60.0B -
Aug 15 8:30 AM CPI
Weekly Trade Idea
This Week
The EUR/USD came right to our price zone at 1.3625-50 with a
low of 1.3642 before bouncing higher to a high of 1.3705. That
was a 63 pip gain. I still think price is going to have a tough
time breaking through the 1.3625-50 area because we have several
support levels in that zone. There is a .382 fib on the daily
chart at 1.3627 and S2 on the 60M chart is at 1.3628. There
is the main pivot on the daily chart at 1.3654 and a S1 pivot
on the 60m chart at 1.3645. That is a lot of resistance to
get through on a pair that is in a longer term uptrend. P/T's
will be 1.3671 (MP on 60M), 1.3688 (R1 on 60M) and 1.3715
(.382 fib and R2 on the 60M)
Last Week
The EUR/USD went only 30 pips below the level we were looking
at to go long as it hit a low of 1.3610 this week. It hit our
profit target level of 1.3742. We are looking for price to
retrace back to 1.3625-50 before possibly taking another
long position.
If you would like more information on our trading please visit:
http://www.fxnationlive.com
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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