Day Trading Service: Trading Report Aug' 08 (+760 pips)

Fact 1: Major-Pairs Results +760 pips; Yen-Crosses Results +415 pips; 100-Pip EA Results +2038 pips

August was the month in which the US dollar finally rebounded strongly after long-term periods of underperformance. Simply look at these quotes for the major pairs:

August 1 open / August 29 close / monthly change in term of pips:
GBP/USD (1.9832 / 1.8203 / -1629) ;
EUR/USD (1.5598 / 1.4673 / -925) ;
AUD/USD (0.9412 / 0.8580 / -832);
USD/CHF (1.0474 / 1.1012 /+538);
USD/CAD (1.0229 / 1.0639 /+410);
USD/JPY (107.85 / 108.80 / +95)

We were able to take advantage of the strong market movements and made most of our gains from both the End-of-Session and 100-Pip Systems.


Fact 2: Up Seven Consecutive Months Since Inception & A Record-breaking Profitable Month

August was a record-breaking profitable month for our daily live trading sessions which produced a total of +760 pips for the major pairs. Profits were made from EUR/USD (240 pips), USD/CHF (+180 pips), GBP/USD (+125 pips) and etc. In addition, the 100-pip ea system managed to top that with a combined total pips earned of +2038 . All the latest results and breakdown of trades can be found here.

Fact 3: Individual Performance Overview & EUR/USD as Top Performer

EUR/USD is still the biggest gainer of all since the start, closely followed by USD/CHF and USD/CAD.

Results summary:
EUR/USD +695 pips
USD/CHF +485 pips
USD/CAD+420 pips
GBP/USD +135 pips
AUD/USD +60 pips
USD/JPY +45 pips

Looking at the current and past stats, all results begin to add up and look ever more promising. With the latest addition of 100-pip EA Trading Program, I believe that we are already well-positioned to capitalise on the methods and continue to make gains in the currency markets.

Last but not least, all ScoutForex readers can simply join our growing forex daytrading group today and learn instantly how to build confidence, generate a sense of control and make consistent monthly trading gains with ScoutForex DTS.

Previous Reports:
Day Trading Report Jul' 08
Day Trading Report Jun' 08

Making Pips from News Trading (2) - CAD GDP & US Chicago PMI

I) Long USD/CAD - News event: GDP m/m; Results: +25 & 70 pips


II) Short GBP/USD - News events: Chicago PMI & Revised Uom Consumer Sentiment; Results: +25 & 53 pips


Upcoming news trading events at ScoutForex News Trading Room:

Monday - GBP Manufacturing PMI; Tuesday - AUD Retail Sales & Interest Rate Announcement, CHF CPI & GDP, US ISM Manufacturing PMI; Wednesday - AUD GDP, GBP House Price Index & Services PMI, CAD Interest Rate Announcement; Thursday - AUD Trade Balance, GBP Interest Rate Announcement, US ADP Employment & ISM Non-manufacturing PMI, EUR Press Conference; Friday - CAD Employment Change & Ivey PMI, US Non-farm Payrolls

Related post:
Making Pips from News Trading (1) - ECB Press Conference

A Double Sweet Victory Friday - 100-pip Target Hit for CHF/JPY

Yup, we had another position hitting the maximum profit target of 100 pips, following the earlier success with the EUR/JPY trade. Those trades were opened from yesterday. It's good to see the 100-pip system to make a strong finish for the month.

I welcome all new ScoutForex members this month and am looking forward to a brand new trading month next week.

What Happened to Forex Autopilot in August 08?

Back in April, we all asked the question, "What happened to Forex Autopilot in late April?"

Before that, the Forex Autopilot system appeared to do well by making most of the profits via BUY signals during the strengthening period of the Euro currency. Therefore my other questions were - "Can the FAP ea also make the SELL signals and perform as good when the downtrend has begun?"

According to Marcus & his team, the FAP system is capable of detecting the change in direction based on its inner parameters and therefore it can make SELL signals. So I was convinced.

Now in August, we should raise the question once again "What the heck happened to Forex Autopilot or Euro in August?!" The FAP was found to be in a big drawdown mode as the Euro currency finally lost its ground against the dollar. At present, there is no way for the FAP to crawl back this month as it could post its biggest losses to date.

We could clearly see that the down trend has started...but the FAP was unable to make consistent sell signals. What has gone wrong? Has the FAP failed to detect the change in market direction?

The answer actually lies in the inability of FAP to open an opposing trade to offset a trade that is already running. In August, it was the BUY position which was last opened on the 5th. Since then, then euro had almost tanked 1000 pips. This eventually resulted in an large drawdown.

In other word, the FAP program could only recognise one open trade in one chart and will refuse to open a second trade or counter trade. Other keen FAP user was spot on to suggest opening two separate charts and setting up two FAP programs so that on one chart it only enters short positions, and on the other it only enters longs. (This could be achieved by using the magic number feature.)

I am not sure this is the long-term answer for FAP. But if the sell mode could be initiated for this month, it would obviously make some sound profits, instead of the hefty losses (see report). The Forex Autopilot program definitely requires some sort of right human intervention and its autopilot mode couldn't keep us long in the game.

Another Chart for 100-pip EA System

August has been an extraordinary month for the forex market as the US dollar finally rebounded strongly after long-term periods of underperformance. Meanwhile, Scoutforex day trading members enjoys one-month long of amazing return.

• Track Record for 100-pip System
  

Check out the following chart which shows the latest GBP/USD trade entry and the successfully targeted 40 & 100-pip profits.


We should accept these extraordinary gains calmly and continue to practise our trading routine consistently.

We Did It Again with EUR/JPY Trade Monday

Day trading room - US Trading Session
No. of signal recommendations: 1
End-of-session results: EUR/JPY (-15 pips)

100-pip EA Program
No. of auto-entries: 1
Final exits: +40 & 93 pips

We made one last EUR/JPY trade in the Friday session to end last week's trading. The final trade was exited with profits this morning (+40 & 29 pips).

Meanwhile, I had another similar setup this Monday afternoon (i.e. US trading session) and it went right again. Both the intermediate and final targets (i.e. 100 pips) were hit as the yen-crosses were heavily sold-off once again!

The 'automated setups' were pretty good recently and didn't disappoint. We had some early wins to kick start this week trading. Here is the chart....

100-pip EA Daytrading Program Started Well This Week

Mid-week update: +339 pips
Wins: 10
Losses: 2 (with reasonable SL)
Screenshot attached:

>> Enter ScoutForex Day Trading Room for All the Latest Results

Forex News Traders Wanted !

After successfully starting my day trading group in February, I am going to invite you to join my forex news trading club soon.

I am reasonably satisfied with my day trading routine at this stage as my system was blessed with strong results recently. I even managed to automate part of my trade routine to make my job easier and more productive.

But I still want to develop and achieve more in this forex trading arena. I do know that trading the forex news events can be an exciting and rewarding endeavor.

Here is a recent successful news trades which I executed and had time to blog about:
Making Pips from News Trading - ECB Press Conference

Literally, there are hundreds of economic news data being released in the forex market every month. Many of the major announcements are capable of moving the underlying currency pairs by 30 to 100 pips immediately after the news releases. In some cases, market also tends to move ahead of the news.

If one to trade the forex news successfully, it needs to be done in a controlled and discipline manner. Because the manual side of the news trading is tiring and demanding, one may not have the energy or time or speed to trade at the maximum potential.

Trading purely on the news releases is harder than it seems, but the task can be made easier with the use of right technical indicators and automated trading program which can help forex news trader to react accordingly. The aim is to extract fast profits from the volatile movements arising from the news releases.

The potential gains are there for us to realise. You are welcome to join my program when my news trading room opens.

>> ScoutForex News Trading Room

ScoutForex Day Trading Room & 100-pip EA Trading Program

• Setting up and running a forex day trading group help ensure that I wake up everyday with the proper level of motivation to achieve a productive and successful trading day.


• Recently, I have further devised a 100-pip expert advisor system to be used along side the existing "forex killer" day trading program. New joining members now have the option to automate their trade execution routines.


• 100-pip gain per trade is a "massive target" for any day trading system. Here at Scoutforex.com, you will learn how to generate high-target trade setups based upon the forex killer software program and unique market sentiment data.


• Joining my trading room can be an effective way to improve your day trading results systematically. If you are interested to find out more about my live forex setups, day trading approach and the system track record, more details can be found here via this link:
  ScoutForex Day Trading Room.
  
  

Here We Go Again... Long the US Dollar - part2 ! Thursday

Originally posted on my day trading blog:

European Session
No. of signal recommendations: 5
End-of-session results: EUR/USD (-15 pips), USD/CHF (+10 pips), AUD/USD (-40 pips), EUR/JPY (-55 pips) and CHF/JPY (-30 pips)

US Session
No. of signal recommendations: 2
End-of-session results: USD/CAD (+10 pips) and AUD/JPY (+55 pip)

100-pip System
Dynamic entries:5
EUR/USD +100 Target Hit !
USD/CHF +100 Target Hit !
AUD/USD +70
AUD/JPY +40
USD/CAD +40

The system picked up five 100-pip signals today. More importantly, it hinted the right market direction and I had a rewarding day in the forex market. Hope you did well with the issued signals too.

Next week, I am going to re-launch my day trading service with a cool "100-pip system" expert advisor program along side the existing "forex killer" day trading room. New joining members will then have the option to automate their 100-pip system trade execution routines.

From HectorTrader: EUR/US...High-Probability Forex Trade

This post was brought to you by Hector of 3SMA Forex Trading Course.

• Analysing the 3SMA Trend Following System Trade Entries

Some few days ago I was mentioning the breakout of the upward range we had seen on EURUSD from the low 1.50′ies to 1.6000. Indeed, EURUSD upon having formed a double top at 1.6000, broke the upward channel bottom to the downside.

At that time I mentioned that those who like to trade within ranges could have a very good short opportunity by selling the EURUSD after the first pullback to retest breakout levels. Also, the logical target would be the range bottom in the low 1.50′ies…

Well, the pullback did happen, it did retest breakout levels (see picture below), and from there it dropped almost 500 pips within the last few days. Very nice high-probability trade setup, isn’t it?

As I always say, price action trading is nothing but buying support and selling resistance, especially if it’s aided by a solid breakout. EURUSD has just proven, once again, that this simple-yet-effective technique is all a trader needs to be successful.


-HECTOR-
------------------------------------------------------------------------------------

p.s. At this point of re-posting, further breakout of the Range Bottom channel has caused the Euro to drop another 500 points to 1.48xx below the 1.5300 buying support

Making Pips from News Trading (1) - ECB Press Conference

I am still excited about trading the forex news events.

There are many factors to consider when trading the economic news releases - part number crunching, part guesswork, part experience. Especially in the forex market, the more you know, the less chance you will mess up.

Lately, I have given it lots of thought and really wanted to automate my news trade entering technique. Using an expert advisor program, I am able to adjust and adapt my entry criterions when dealing with the different types of forex events.

My news trading method is currently in the final phase of testing and it is going to be tested fully via backtesting and forward testing. Hopefully from now on, I will be sharing my experience on how to trade the forex news successfully.

When everything is automated, I'll be relying on its "discipline" to help me make a lot more pips for my trading accounts. Today, the news trading program has been put into good use. As a good example, I give you the price action from the ECB press conference following Trichet remarks after leaving the Euro rate on hold .

Screenshot attached below:

Day Trading Service: Trading Report Jul' 08 (+105 pips)

Fact 1: Major-Pairs Results +105 pips; Yen-crosses Results -245 pips; 2 x 100-pip Results

July was a choppy month where the US dollar finally gained ground. We were able the trade with the underlying market technical sentiment at times and made conservative gains with the major pairs.


Fact 2: Up Six Consecutive Months Since Inception For the End-of-Session System (Major Pairs)

July was another profitable month which produced +105 pips, thus yielding a good total of 1080 pips since the launch of the service. Profits were made from the big four i.e. GBP/USD (+60 pips) , USD/CHF (+55 pips), USD/CAD (+45 pips) and EUR/USD(+30 pips). Unlike last month, yen-crosses pairs were the under performers this month due to price stalling and choppy actions.

Fact 3: Individual Performance Overview

July has confirmed that EUR/USD is still the biggest gainer of all since the start, while the AUD/USD is the only one with negative pips.

Results summary:
EUR/USD +425 pips
USD/CHF +305 pips
USD/CAD+295 pips
USD/JPY +45 pips
GBP/USD +10 pips
AUD/USD -30 pips

New Expert Advisor Programs

Looking at the current and past stats of our day trading system, it can be seen that our unique trade entry system was well capable of generating the right sort of signals especially during active market conditions.

Besides the start-of-session entry strategy based on the issued signals, many have requested for possible automation program to help enter and fine-tune the issued signals for fast scalping purpose as well as setting up the 100-pip target trade.

I am happy to automate my trade entry technique and I'll looking to lprovide those expert advisor (both fast-pip & 100-pip) programs along side the existing day trading signals before the end of this month.

Last but not least, you can simply join my live forex trading sessions today and learn how to build confidence, generate a sense of control and make consistent monthly gains with Scout-Forex DTS.

Previous Reports:
Day Trading Report Jun' 08
Day Trading Report May' 08