I hope you’re well and the markets are behaving themselves for you.
I’m in a little pain this morning so apologies if today’s email meanders a little. I had to have some work done on my front teeth after being a little clumsy next to a fussball table.
Rather embarrassing, especially as no alcohol was involved!
On to this week’s missive…
Summer is officially here. It’s Wimbledon Fortnight and a plucky Brit is playing heart stopping five setters. Volume on financial markets tend to start to dry up in July and pick up again as the holidays come to an end in August. Not that the FTSE is listening, rocking down around 2.5% this morning!
The sun is shining, but it is all doom and gloom on global stock markets at the moment. Banks are lining up with their bleak predictions for the future. Who’s to say they are right or wrong? The housing market is certainly looking shaky, but these are the same banks that failed to predict themselves out of the mess they’re in now. If you fancy a bit of light hearted, jolly reading you can read a summary of the RBS comment to clients here: http://tinyurl.com/4q8edr.
Here’s a summary of the Barclays comment to clients here: http://tinyurl.com/3tjerw.
And finally, Share Hunter, the Spread Betting tips service reviewed in a previous edition of What Really Profits have some even scarier predictions. I asked them to put it on a special website so Market Maven readers could have a read.
Rather bold predictions, but it does make you think!
With What Really Profits on its summer recess this month, I’ve got some time to reflect on the editions gone by and make a serious dent in the backlog of trading systems to test. I also want your input…
Let me know what you think about these trading systems
Top of this list is Concept FX (www.conceptfx.co.uk)
I’m amazed by the number of members who’ve asked me for feedback on this – they must be doing a huge marketing push. Despite my badgering I’m yet to gain access to a review copy of this software, but I’ve not given up and I’ll let you know how I get on. Anyone who has any experience of this service please do let me know.
On Thursday I’m off to a trading seminar hosted by Click-Events and Alan Rich. Alan will be teaching us how to swing trade UK stocks and use his colour bar software. I’ve had my eye on these seminars for a while and will report back soon.
A member has been kind enough to keep me updated on the system he is trialling. Here’s his feedback:
“I promised to keep you updated about a system called the 10-minute-forex-wealth-builder. This week I banked 300+ pips with it shorting the USD/JPY and GBP/JPY. It takes approx 3 minutes per day to follow as it using daily bars.”
I’m hoping to get a copy of the system soon so I’ll update you all as well.
FX Official had a breakeven month on his headline picks, but the commentary on the whole isn’t too bad. As the member who put me on to it says, he calls the moves reasonably well but when he does get it right he can be a tad early.
FX53 has been going great guns still and Kevin is looking to add a signal service for some of his trades. UFXP continues to impress me and you can read more about that in my trading update.
Feedback, feedback, feedback
So here’s the full shebang, all the info I’ve reviewed to date. So please do get in touch if you’ve any feedback, positive, or negative on the following:
Baby Pips
Ed Ponsi
FX Educator
Click Events Forex pack
CANSLIM
Stock Traders Almanac
eSignal charting software
Sierra Chart charting software
The Way to Trade Book by John Piper
Illuminate Trader
Lunch Time Trader
Market Stars
Trading Pivot Points
Trend Signal
Invivo Analytics
News trading strategy
Trade With Pros
City Beaters
Investing in gold coins
Fat Prophets
Market Matrix
Elliot Wave
Alan Farley Swing Trading Course
Able Trend/ Able Sys
Spread betting company review
Vince Stanzione
Share Hunter
Stock Reflex
Analyst Online
Managed Forex Accounts
INO TV
Kirk Report
3 Ducks Trading Method
Wealth Lab
Sharescope Trading Software
FX53_Auto trading packages
Amin Sadak
Investment Clubs & Signet
The Wizard
Online trading Rooms
The False Break Trading Strategy
I look forward to hearing from you!
My trades
A tricky week on the forex markets, but thanks to my added filters on TUFXP I manage to finish in the black for the last 7 days on my intraday trades. A 40 pipper on the JPY/ USD certainly helped things.
Many members have asked me about these filters and a few more have discussed the way they have been making the system their own. I’m reliably informed that an online webinar is on the pipeline to help members discuss things like this. I’ll keep you posted I know more.
As mentioned last week, I’m enjoying the long term picks from the wizard. I’m about break even over the last 7 days with some good trades on the EUR/ USD and GBP/ USD offsetting some rather experimental trades on the lesser currencies such as the New Zealand Dollar. I’m long oil from $135, the congested action and refusal to dip below $130 was too much of an opportunity for me to miss. I’ve pushed my stop up to break even and my target is $150 dollars. A free trade at the moment with some good looking upside. TradeWithPros.com have continued to impress me with their picks, especially the call to get back into Oil ETFs on a dip. Great timing.
This week’s hot trading buttons
Despite a shortened trading week with Independence Day on Friday the 4th of July, it is a very busy week ahead. Currency markets will be eyeing Thursday’s ECB interest rate decision and accompanying statement. The European Central Bank is expected to raise rates by a quarter of a percent to 4.25%. With this starting to be priced in already, market participants will be more interested in the prospects of a string of inflation fighting rate rises from the ECB.
Thursday also sees the all-important US Non Farm Payroll data brought forward a day because of the holiday on Friday. This more than anything could have the greatest impact on currency and equity markets for the new month of July. The UK certainly doesn’t escape without any top tier data with two lots of house price announcements. The Nationwide have already released their bad news and I expect nothing but the same from the Halifax House Price index is tentatively planned for Thursday.
Trading wisdom
“Remember your goal is to trade well, not to trade often.” Alexander Elder
