 | Welcome back!
Here, at Spectrum Forex LLC., we are flooded with all kinds of promotional advertising from forex brokers, charting services and purveyors of other trading products. We are using 3 different brokers for our trading and every one of them has something better and worse then the competition.
We have been trading Forex markets for number of years and went through a number of other brokers, some of which are no longer in business. Retail Forex industry has changed dramatically over last 5-7 years, and for the better. Increased competition narrowed the spreads for most in not all trading instruments. The majors, which only 3 years ago traded at 5 pips spreads, now can be routinely seen at 2-3 pips spreads. The difference is even more dramatic in a little less popular pairs. AUD-USD spreads dropped from 5 to even 2 pips, same with EUR-CHF and EUR-GBP, which can be bought/ sold at as little as 1-2 pips! That makes these instruments a viable alternative to the "majors'. Speculators favorites, GBP-JPY and GBP-CHF has seen cost of trading drop from 10-12 pips to 6-7 pips.
Trading platforms have also improved vastly over last few years, every brokerage continually adding new bells and whistles. Most importantly, though, the companies themselves have become more stable, more responsive to customers and less likely to default. With the rising popularity of more and more currency pairs, we think that industry has a bright future and is worth investing even by those who currently don't trade it.
Improvement in trading environment doesn't necessarily translate into profits. Some would argue that with increased efficiency, it's HARDER to make profits. We don't believe in that but everybody is entitled to own opinion.
Our full results pages have been updated, complete with performance graphs. They can be viewed by following the link below, next to last week's results. |
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Here are the results we achieved last week:
- Rainbow made 0 pips in closed trades;
- Daily Pound earned 29 pips;
- Daily Euro made 39 pips for the week;
Follow the link on the right to view details |
Last week's results.
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| Last week we proposed a trade in EUR-GBP. Our set up was to go long at 0.6817 with a target of 0.6860. This trade was canceled as the prices moved in opposite direction, never reaching our entry. |
| This one here is a trade we featured on 06.03.2007. We went short EUR-USD at 1.3380 with a target of 1.3300. This trade was closed few days ago after reaching it's target, for a gain of 80 pips. |
We are taking a closer look at EUR-AUD. We have featured it before with good results. Our set up is to go LONG at 1.5980 with a target of 1.6080, or 100 pips.
We wish everybody great trading and see you next week! |  |
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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