Weekly Trading Update - 29 November - 03 December 2010

We have had snow here in England all week and it's been bitterly cold, so I have needed all of my will power to get up at 6.15 every morning, but it was worth it in the end because the Forex Morning Trade system, which enters a trade on the GBP/USD pair at 6.30 every day (if conditions are met), ended up generating a profit of 80 points this week. The full results are as follows:

Monday: no trade
Tuesday: no trade
Wednesday: 0 (break-even)
Thursday: +40 points
Friday: +40 points

It was a nice return to form for this day trading system as it has had a few lacklustre weeks recently where it has only managed to break-even or make a small profit of 40 points.

We are now entering a time of the year that is notoriously difficult to trade so I think I will trade this system (and my other systems) for one more week before starting my Christmas break.

Anyway if you would like to check out the Forex Morning Trade system for yourself, you can do so by visiting the official website, or by reading my full Forex Morning Trade review.

Elsewhere my 4 hour trading system had a mixed week overall. There was a winning trade on the GBP/USD pair when the EMAs crossed downwards on the 4 hour chart yesterday morning. However after closing half the position for 40 points and moving my stop loss to break-even, the price bounced back again and took out this stop loss.

There was one other trade on the USD/JPY pair on Wednesday afternoon. I really shouldn't have traded this upward EMA crossover because I didn't have a great feeling about it, and this proved to be correct as I ended up cutting my losses at -30 the following day.

So my 4 hour system produced a slight loss in the end, but the Forex Morning Trade system more than made up for this loss. Plus I also had a bumper week trading Barclays, Lloyds and Tesco shares, as well as taking out a short position on Betfair, so if you include share trading profits as well, it has been one of my most profitable weeks for ages.