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Sunday 07.22.2007.
 
Spectrum forex trading bookstore

Hello again!
We hope that everybody is enjoying summer and those of you on vacations, have fun!
There is no rush, Forex markets will still be here when you come back, as well as money making opportunities. Same goes for losses, but we try to keep those to the minimum.
We'd like to thank our readers as well as casual visitors to this site. Number of visitors to our website more than doubled from just 2 months ago. We hope that everybody who comes here finds something of interest. If there is something you'd like us to add to our website, additional content or information category, please let us know at
administration@spectrumforex.com , or even call us at 1-425-967-3340. All your comments, observations and even criticism is always welcome, as it plays a large part in our web site's continued improvement.
It was because of reader's comments we added the "
Bookstore" section to our website. There has been a lot of requests about some educational material, especially covering our successful "Rainbow" service. Guess what? Over next few weeks we will be releasing an e-book covering in depth one of the strategies we use for "Rainbow" trading. Now, at this point we do not foresee us becoming an all out educational web site, we prefer to focus on trading side of the business, but we see what happens. If there is enough interest, we just might expand our horizons.
Speaking of trading, last week was rather strange. Most of currencies were locked, and still are, in tight ranges. That resulted adversely on our 2 mechanical systems. While both of them finished the week positive, there was not much gain. Especially "Daily Euro", which with lack of any decisive moves in EUR-USD finished the week basically break even. We think that will change next week. "Rainbow", despite a couple of losses early in the week, reported good gains, due to a strong JPY moves on Friday. There were, however, fewer trades that we had experienced in recent weeks. Summer effect? Results are posted below, follow the link provided to see all trades.

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Here are the results we achieved last week:
- Rainbow  made 315 pips in closed trades;
- Daily Pound gained 49 pips
;
- Daily Euro earned 2 pips for the week;
Follow the link on the right to view details


Last week's results.
Last week's review.
Here is our trade from last update. Turned out to be one of the most unfortunate trades we had taken lately. Our GBP-JPY SELL order was filled to the pip, and then prices reversed sharply. Turned out, our entry price was the lowest price recorded on the platform we use. Happens.We took 141 pips loss and then moved on.
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In the previous trade we were not as much looking for weakness in GBP as much as strength in JPY. To illustrate it, we went LONG GBP-CHF at about the same time with dramatically different results. This turned out to be a good trade, about covering our GBP-JPY losses. We netted 137 pips here.
The strength in JPY finally materialized on Friday and we were ready to capitalize on that. You can see the snapshots of remaining trades from last week here.
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Next week's trade.
 
For next week we take a look at USD-CHF. Looks like a bottom is forming here so we are placing a buy order at 1.2075 with a target of 1.2180 or about 100 pips. Please note we are using intermediate term chart, so if the trade is executed we think it might last maybe even 2 weeks. Of course, we hope it comes to a speedier conclusion.
We wish everybody great trading week!
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Once again we must stress that the trades highlighted here are only a small sample of our trades. If you have any comments or would like to obtain more information please contact us at info@spectrumforex.com .

Risk disclaimer:
Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our website shall be deemed a solicitation or an offer to Buy/Sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.

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