I hope you forgive the rather short Market Maven alert this week.
I’ve been a little distracted after my return from my hols in Italy on Sunday night so I’m am still catching up with my emails and getting back into my market groove.
I got engaged whilst in Italy and have been fielding calls/emails from well wishers, not to mention excited phone calls from my new fiancé about plans for the ring/ venue etc.
I proposed with a family heirloom as a ring rather than picking one out myself. Mrs Market maven to be doesn’t wear any rings, so I couldn’t even begin to guess the size or type she’d want. The plan was to pick one she’d like together.
Last night we went out for dinner with friends who are already engaged and I must admit I’m baffled as to how any chap is supposed to pick out a ring without some huge hints from their good lady.
We’re going ring shopping on Sunday and I’m already bewildered by all the things to consider like clasp type, diamond carrot and clarity. If you got there under your own steam, hats off to you.
No date set yet. A few things up in the air like a growing plan to work from Canada for a year. Thanks to the wonders of modern technology, I should be able to trade and access the same things I do back home.
So exciting times here, but enough about me… Let’s look at a few new trading systems already reviewed and a plea for those that need to be reviewed.
Back to trading systems
The latest edition of What Really Profits will be hitting your doormats this weekend. I’ve written a review of Forex Megadroid, which includes some key questions you need to ask whenever dealing with an auto trading program like this. I also go through some of the best auto trading systems available at the excellent www.collective2.com.
As well as this I’ve quick reviews of Markets Mastered, Forex trades live, an final update on LS trader and a full review of the highly recommended Ten Kei trading system from Wilson P. There’s a great guest article on trading using support & resistance lines from Mark Sturdy of Seven days ahead. The edition finishes off with details of a mini system I’ve developed for you. This pattern doesn’t appear much, but when it does, it’s incredibly consistent.
I’ve a small favour to ask you
Summer is here – the Ashes are round the corner and a plucky Brit will once again try to win Wimbledon (might even do it this year!). It sadly means that WRP will enter its summer recess and the next edition will be until August. However I shall still be still be trading away and testing systems that you want me to look at.
July will be a great time for me to get stuck into some new systems, which is where you come in.
A few months back I asked you to email me with a list of systems / services that had caught your eye or products you use that you’ve got some feedback on. This was a tremendous help and through your emails I founds some real gems like http://blackdogprogram.com.
So once more, if you could get in touch and let me know the systems/programs/tipsters/seminars/courses etc that you think I should look at, I’ll be very grateful. If you have any experience to share, so much the better.
As a quick heads up, I’m currently tracking Forex Trade Alert from Tom Tragett, EOD Trading signals, systems from pipsqueak and a bunch of new systems that WRP tesers are trialling.
Looking forward to hearing from you!
Things are finally getting interesting after yesterday’s sell off. Typically it happened at a time when I wasn’t back into the groove after a few days away from my screens, so I had no trades open, but at least we’re getting some meaningful action now. Tempted by a bit of a long trade on the S&P 500, my instinct still tells me that the medium term outlook is uncertain, but in the short term there could be a quick bounce.
Just feeling my way back into my forex trades today and yesterday. I had some good moves before going away, but I’m keeping it small while I catch up with my reading and charting.
This week’s hot trading buttons
This week’s economic data due to be released includes more housing data from US, along with the final reading of the US GDP numbers. While many analysts are expecting an increase of new home sales, it could be argued that they are being overly optimistic. Over the last few weeks the 10 year bonds have been increasing in price, which has a negative effect on the price of mortgage rates, and many believe these numbers will come out worse than expected. There aren’t expected to be any surprises when it comes to the US GDP numbers; however nothing is guaranteed. Should the numbers come out worse than expected, oil prices which have priced in a bottom and a recovery, will be sold off heavily, and might end up in the 60 dollar per barrel area.
“It is difficult to imagine a sustained, vigorous bull market when the financial system and housing are not inspiring investor confidence.” Brett Steenbarger