Good morning!
Or whatever your particular case maybe (high noon, evening, the dead of night...)
Glad you could join us. Not much really to comment on, just ploughing along, taking trades
as they come. You win some, you loss some but the important thing is to keep on trading.
We do not participate in any Forex chat rooms or boards, but on occasion this author reads
some comments posted by other traders. Last week there was a complaining post on one
exchange. Person who posted it said that he had been trading for about 3 months, placed
maybe 150 trades and tried "every system available". After this exhausting trial he feels
nothing really works. I was very tempted to post a reply but gave up.
In our view here at Spectrum Forex LLC., 150 trades is barely a meaningful sample for one
system or method yet along "every one". To become good or at least proficient one must devote
a lot of time and trades. This is not different than any other profession, the longer you do something,
the better you should become. Please draw your own conclusion.
Anyways, here is what happened with our Systems last week.
System 1 produced 97 pips making it 130 pips for the month of July. Go here to view trade by trade.
System 2 gained 109 pips which brought it monthly total to +17 pips. To see all the details follow this link.
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Discretionary trades.
Look at our trades is a little unnerving this week . Our EUR-CHF trade came within 15 or so pips of meeting our target and reversed! Ouch! Despite this setback we are still 70 pips in profit. After some deliberation we decided to let it run. Our target remains 1.5800. |
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| Traget remains 1.5800. |
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| Next is USD-CAD. This trade also came close to our target of 1.1500. If you recall we have to long trades in place here, one was opened at 1.1060 and the other at 1.1290. Both of these trades are in positive territory. One is showing a gain of about 250 pips while second is about 25 pips in black. Primary target remains 1.1500. |
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| Target is still 1.1500. |
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Next week trade.
We decided to present a trade of likely shorter duration here. The opportunity is presented on 1 H charts so, if executed , trade should come a quick resolution. The currency is GBP-USD. We have a standing order to BUY 1.8685 with a target 1.8750. We wouldn't be surprised if this trade is in and out even before London open. Take a look. |
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| Target 1.8750. |
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| I you have any comments as to the format of our "Weekly comments" section or maybe a suggestion or a special request, drop as a line and we'd try to accommodate any reasonable ideas. In the meantime have a great week and see you next weekend! |
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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