29th April ...

Hi,

As part of my risk management, I would not normally place Income Generator trades on a Thursday evening, as they are quite risky until day 3 ... and since tomorrow is "Will and Kate" day in the UK, and it's a public holiday I am rather thankful that the trades I placed last night did not trigger. Add into the mix that Monday is  a public holiday too, and I am rather pleased that all my open trades have now closed ... (mostly against the "Take Profit" values I set, but once against the "Stop Loss" which was still, by that point, in profit :)

Taking this all into consideration, there are no trades placed this evening, and I will not be trading in the morning either.

Have a wonderful weekend ... I'll be back next on Monday evening.

Cheers,

Nick

28th April ...

Hello and Welcome :)

Looking for some Income Generators tonight I found only a few possibilities:

Short on USD/JPY, EUR/USD and GBP/USD ... in addition, Klaus, a friend of mine trading the same strategy in Hamburg saw a trade setup on the EUR/AUD.

In the end I decided not to enter the trade on the USD/JPY because it was right on the edge of the criteria, and also to skip the GBP/AUD since the entry point would be only 50 pips from a previous level of support, and so the risk of the price retracing and stopping me out is too great.

That left only the EUR/AUD and the EUR/NZD and I placed both trades ... you can see that I placed the trades sometime after midnight, and so today's bar is already forming (both in the opposite direction from the entry points) ...

Short on EUR/AUD

Short on EUR/NZD

I'm expecting this price to pull back a bit further yet before it continues its decent.

This looks ready to go ... but it may take another day or so ...

Due to the lateness of the hour, I know I won't be up for the London session. So these will be my only trades for today.

So until tomorrow ...

Cheers,

Nick

Starting over ...

Okay ... so my last "attempt" at a blog was an utter failure ... well it doesn't help that I didn't get past the first post.

So ... What happened?? (with the Forex Trading, not the blog)

The answer quite simply is ... I did! ... I tried, day in - day out, to trade forex using the method taught by Sid and Kris, and after several months did not have a single positive week.

I want to make one thing clear here ... I blame me for that failure, not the ForexTrainingWorks training or system ... their style of trading simply did not suit my personality and I still have the utmost respect for Sid and Kris. They have helped many people to develop a successful forex trading business and I was honoured to have made their acquaintance.

Now ... What next?

I have now turned back to the organisation whose training helped me trade stocks successfully before my decision to "do Forex" ... Knowledge To Action (founded by Greg Secker) are based in London, and now run training seminars around the globe. Last year they released their Ulimate Forex Profits course on DVD, and I took the opportunity then to find out more.

Now for about the last 2 months, I have been trading their Income Generator(c) strategy successfully on a Demo account, and am seeing around 10% "profit" per month. I also went "in-house" to do the training course at their "Centre of Trading Excellence", and found the experience well worth the money.

Now, I am starting afresh ... and will post in the morning the UFP Income Generator(c) trades I placed the evening before ... and and Forex Pivot(c) or Forex Sniper(c) trades I made in the London opening session.

I'll try and post some screen shots from MT4 of the trades ... and I'd welcome feedback from anyone who chooses to give it :)

Cheers,

Nick