Hello, welcome to the weekly review of The SAS Trading System.
Something I have noticed lately. There seems to be a lot more activity with £/$ on the Asian session. Prior to the natural disaster that befell Japan recently, this pairing, for the most part was traded lightly overnight.
That has changed during the last couple of months, when we have seen a heavier than usual amount of trading on £/$.
This seems to have had an unsettling effect on the European openings. More often than not, there was a good strategy when we could profit from the opening of Frankfurt, an hour before London opened. I haven’t really been able to do that for a while now. Just wondering if that will settle back down once Japan gets back on its feet.
Incidentally, I have been taking a good look at another system Called Forex Trading Made E-z you may want to take a look here.
Let’s take a look at how things have been in the past week, commencing Mon 02 May. We start the week on +190 pips gained from last week. Trading is at £1 per point.
02/05/11,
A.M: GBP/USD: wasn’t happy with the signals, things looking too erratic, left this alone.
EUR/USD: picked up a nice 30 pip gain here. Entered long @ 1.4815 auto closing at 1.4845. There to monitor the trade.
P.M: No further trading today.
Running total for week = +30 pips.
03/05/11,
A.M: GBP/USD: Happy with signals here. Went short @ 1.6600, trade opened after 08:00, auto closing prior to 09:30 @ 1.6525 for a 75 pip gain. There to monitor trade.
EUR/USD: Not too happy with signals here this morning, left alone.
P.M: No further trading today.
Running total for week = +105 pips.
04/05/11,
A.M: EUR/USD: Good signals for long. Enter @ 1.4820. Exit @ 1.4845 +25 pip gain.
GBP/USD: Good signals for long. Enter @ 1.6480. Exit @ 1.6505 +25 pip gain.
P.M: No further trading today. Happy with 50 pips this morning.
I needed to go out this morning, so I had in mind a 25 pip scalp. As it was, I managed to make a trade on both pairs, taking 25 pips on each pair. Once I had set my trades up, I turned the computer off, got ready and went about my business. On my return just prior to lunch, I logged on and discovered that the trades had been completed before I had actually left the house. At that point, I decided that I wouldn’t push my luck; I was happy with the 50 pips and made up my mind to call it a day.
Running total for week = +155 pips.
05/05/11,
A.M: GBP/USD: Good signals for long. Enter @ 1.6520. Exit @ 1.6530 (manual close) +10 pip gain.
EUR/USD: Good signals for long. Enter @ 1.4865. Exit @ 1.4890 +25 pip gain.
P.M: No further trading today. I fancied a fishing session at the beach.
Indicators signalled a climb for both pairs this morning. However, GBP/USD appeared to be hitting strong resistance around 1.6540. With the trade on EUR/USD coming good and reaching the profit target, I decided to close the trade on GBP/USD, happy with 10 pips from that trade to go with the 25 pips from EUR/USD, and a profit total of 35 pips for the day.
Running total for the week = +190 pips.
06/05/11,
A.M: GBP/USD: Signals neutral this morning, candlesticks undecided, no trade.
EUR/USD: As for GBP/USD.
P.M: I do not usually work after 12:00 p.m. on Fridays.
Running total for the week = +190 pips. Cumulative total* = +380 pips
Sat watching these charts for over 2 hours before deciding to call it a day just after 08:00. GBP/USD was looking too erratic, and EUR/USD seemed too flat. I was happy with the 190 pips for the week. I was hoping to break the 200 mark for the week today, but it was not to be.
Here’s hoping next week brings more of the same, or better! Have a good weekend and good fortune on the platform next week, until then, ciao for now.
* Since resumption of this weekly blog, trading week beginning 26 April 2011.
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