CorbanFx Weekend Review 5/26-5/30/08

100% Positive

It was a very good week for our system. Not only did we bat 100 but we reached and stayed at a new high to close out the month.

This week in trades:

Monday: Memorial Day No trades
Tuesday: 2 Trades.......+75 pips
Wednesday: 1 Trade.........+108 pips
Thursday: 1 Trade.........+30 pips
Friday: NO TRADE

Results: 4 Trades.........213 pips

Friday 5/30/08 Update

Stayed out!

There were a couple of crossovers today but I decided I was not going to trade any of them. I turned of my alarms and decided to close out the month with what I had. Silly? Maybe. But I don't care. Like I have said before, closing the month on a high has significant impact on the psyche for the following month, and I believe that the possibility of a few more pips is far outweighed by the invigorating knowledge that you achieved a goal. With that in mind I close out the month with a nice return, and go into next month with some room for draw down.

I will talk to you next month....or Monday for that matter.

Thursday 5/29/08 Update

30 more..

OK. The trade I did today started with 40 pips between entry and target as well as stop. It was around 12:30 when I decided that I simply didn't want to wait for 4 to close the trade, so I brought my stop down to 2 pips above my entry and set my target 10 pips away. At 1 pm it hit the 10 pips target and that was that. I will have to see what the end result would have been if I had waited till 4 pm, but, it's the end of the month and I just didn't want to end on a draw down.

Today's trades:

10:30am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9748 with a stop at the most recent swing high at 1.9800. Since I was 48 pips away from the nearest 50 or 00 level (1.9750), I decided to to set my target at that price.

Entry: Short at 1.9748

Stop: 1.9800

Initial Target: 1.9700

12:30 pm EST: It wasn't moving much and we were a little in the money so I decided to cut my risk to a minimum and hope for 10 pip gain.

New stop: 1.9750

New Target: 1.9738

1:00pm EST: Our target was hit. Trade closed.

Results: 1 trade....+10 pips.....3 lots.....+30 pips

Here is my chart.

Talk to you soon.

Wednesday 5/28/08 Update

New High!

Another good day. It seems to me that that last few days of the month always tend to be the ones that give us the nice profits...hmmm...Maybe I should just trade from the 20th to the 30th of every month. In any case, we made out with 108 pips today which put us at a new high in our balance.

Today's Trade:

3:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9786 with a stop at the most recent swing high at 1.9800. Since I was 36 pips away from the nearest 50 or 00 level (1.9750), I decided to to set my target at that price.

Entry: Short at 1.9786
Stop: 1.9800
Initial Target: 1.9750

5:28am EST- My target was hit at this time and I. I should have waited to see if it made a clean break, but I was out and then it kept going down. Oh well. I'll take it.

Results: 1 trade.....+36 pips.....3 lots.....108 pips.

Talk to you soon.

Check out my new charts...I just figured out how to do it with my platform!

Tuesday 5/27/08 Update

Final Push

It was another decent day for the system. We got in on two trades and were positive on both. Both times the news kind of got in the way and specially on the second trade, made me close the trades early, but none the less ended with 75 pip gain. Not bad for a Tuesday after a long weekend.

Today's trades:

12:45am EST- There was a moving average crossover for a long trade. RSI was greater than 50, stochastics were trending up, and MACD was negative and gaining value.. This was a valid entry. The entry was at the close of the candle at 1.9817 with a stop at the most recent swing low at 1.9812. Since I was 33 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9850.

Entry: Long at 1.9817

Stop: 1.9812

Initial Target: 1.9850

1:45am EST- My target wasn't hit by this time and I knew that news was coming out at 2:00am EST, so I closed my trade. I managed to exit out at 1.9837.

9:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value.. This was a valid entry. The entry was at the close of the candle at 1.9755 with a stop at the most recent swing high at 1.9782. Since I was only 5 pips away from the nearest 50 or 00 level (1.9750), I decided to go for the same amount of pips I was risking on the trade, which in this case was 27. This put my initial target at 1.9728.

Entry: Short at 1.9755

Stop: 1.9782

Initial Target: 1.9728

9:45am EST- My target wasn't hit by this time and I knew that news was coming out at 10:00am EST, so I closed my trade. I managed to exit out at 1.9750.

Results: 2 trades.....25 pips.....3 lots.......75 pips.

Today with such tight stops I really should have gone for more lots on each trade. I was only risking 5 pips on the first trade. I could have sold 20 lots and still been within the 2% rule max loss. Had I done that, the return would have been 400 pips!...but I am chicken and would rather err on the side of caution. Oh well...

Here's what it looked like.

Talk to you soon.

CorbanFx Weekend Review 5/19-5/232/08

Going up?

Ok..another week gone and though we didn't trade Friday we were still able to get a few pips for the week.

This week in trades:

Monday: 1 Trade......-168 pips
Tuesday: NO TRADE
Wednesday: 1 Trade......+129 pips
Thursday: 1 Trade......+87 pips
Friday: OFF

Results:

3 Trades........+ 48 pips