Week of August 20th, 2007
August Daily Video Trade Results MTD: 11/17 (65%) +334 Pips
The managed accounts are rallying as the realized profits
are now at 10% for the month and the unrealized core position
is down about 13%.
Here is a recap of the Daily Video Commentary which you can
get for free each day on FX Nation Live:
Thanks for your patience during the server move. It was succesful
and we are now running very smoothly on a dedicated server so
we have the capability to hold as many concurrent users as we need.
This was an important step in our growth since we are now over 3,000
members after the first month and growing rapidly!
We didn't have many trades this week, 2 to be exact and we went
1 for 2 for a 42 pip gain. We actually had several trade set
ups negated before entry because of strong market movements
around our price levels. Sometimes it's just as good staying
out of trouble as it is having a winning trade. Here were the
trades:
8/22/2007 EUR/USD Long 1.3467 1.3507 1.3550 62 pip gain Equivalent to a 62 pip gain on 3 lots, scaling out 1.5 lot at each P/T
8/23/2007 EUR/USD Short 1.355 - (20) pip loss
TOTAL PROFIT +42 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 28 10:00 AM Consumer Confidence
Weekly Trade Idea
This Week
EUR/USD went up this week despite the 10 SMA crossing below the
50 SMA, which should be very bearish. Now, the problem is where
will the major resistance be? Price is currently above the
main monthly pivot and R1 is a long way away. Perhaps it will
re-test the highs at 1.3850 once again before heading lower.
Last Week
The markets changed directions this week as the EUR/USD fell
through support for 4 consecutive negative days before finding
some support at a low of 1.3361 and bouncing up to 1.3547.
Major resistance should be in the 1.3625 (.382 fib on the daily
chart) to 1.3650 (main monthly pivot) if you are looking for
additional short positions.
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
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