Happy April fools day!
Welcome!We don't think it's a holiday but what the heck. Before we know it March is over and with it first quarter of the year. After the beating our Systems received in February it was good to watch them start recovering. We close first quarter of 2006 in good order, even better spirits and performance positive. That is not something every market participant can claim.
Enough of that.System 1 made 100 pips last week, 145 pips in March and 170 pips year to date. For complete results go here.
System 2 was +26 pips for week, +115 pips for month and +117 pips for the year. To view details follow this link. |
Discretionary trades.
First of all let's take a look at our "usual" position. The old stand by, AUD-JPY after being a loser for some time is just about break even. Since we are bullish this pair we continue holding it, looking for about 200 pips gain.
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| About break even. |
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Here is trade we entered during the week. We went long NZD-USD at 0.6000. Our target here is 0.6200. This is however a situation that merits farther look. We believe that this is pretty much bottom for this pair long term, for the next 6 months or year.
That said, these kind long term bottom/tops can take weeks to develop. Here is what we are doing. Our short term target is 0.6200 and if reached we will close most of the position but continue holding a little bit for additional 500-700 pips. Definitely for people with a lot of patience. |
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| Target 0.6200. |
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Next week's trade.
Here is a situation in USD-JPY. We have a standing BUY order at 118.30. We are looking for a target of 119.00. With any luck this trade maybe triggered and done Sunday afternoon. Please note, should the price dip under 117.10 before our order is executed, we will cancel our BUY order. |
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| Target 119.00 |
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| With that we'd like to wish everybody good trading in new week, month and quarter! |
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 . |
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