UPDATE

Hi

I've been a little slow the last 2 days with a little stomach flu caught from the grand kids. 

But here is the thing that's cramping me at the moment.  The plan was to start the regular trading room this week but I've been having to scramble at the last minute to find a new screensharing host that will fit what I need.

I was using DimDim.com as most of you know.  Well they were just bought out this week by salesforce.com and I am setting up someone else.

Trades:

For those on the trade alert list I executed 4 trades in Gbp/usd on a scale in play based on the daily and 4hr chart.  3 trades closed profitable and one still open. If you have been following the trades you must wonder why I would stay in that trade.  First the 3 profitable trades provide cushion for the longer term trade.  When I enter a trade it is more like a military campaign.  I may make multiple trades in the same pair but each trade may have a different signal and/or time frame. But I don't want to get too complicated but when you do this you are looking at the profit or loss of the total of the trades in that one pair.  In this case the campaign consisted of 3 smaller time frame signal and 1 longer time frame signal.  What is the rule that says you must take the same approach on every trade made on a particular pair....

Well, the 4hr trend was never broken.  The market tested trend support to the very last pip.  I did not want to go into the details of the trade until I closed out or the end of the week.  I will be sending out video on the trade so that you can see how I judged the trend on this one.  Judging the trend on this one was very tricky unless you have lots of experience with judging the trend.  Since this one lasted longer term I did not want to tip my hand.  Trend support is 1.5433.  We never got a close below that level so, even though the 1hr trend was down, as I said in the trade video this is a daily/4hr trade and as such, 24 to 72 hours is typical for trade resolution and the range of stop 75 to 150 pips...

If you haven't noticed I will call a trade and then talk you through the rational of the trade while the trade is still live and I do it publically many times.  Now consider that this is like a football coach calling a play, then putting the play up on the internet for everyone to see before running the play.  Do you think the other team could be tipped off to the play and set defenses against it....

Anyway, I will post the trading room details over the weekend.  the schedule will be 3 live sessions per week per posted schedule.

Cheers, Jerry

forextradingmajic.com

jerryjstew@yahoo.com