The SAS Trader : Weekly Review.

Hello, welcome to this weeks’ review of The SAS Trading System.

This week I was feeling confident enough to warrant increasing my staking to £2 per pip. Financially it was a good job I did, as pips wise; it’s been a quiet week. If I had really tried, i.e. spent a little more time at the screen, I could well have taken it over the 100 pip mark, and that doesn’t include Wednesday, when I had to be out and missed out on plenty of decent trading opportunities.

Generally the system is holding out well. There have been occasions when I have gone by instinct, rather than with the system. That’s the way I have always been though, sometimes it pays off and sometimes it doesn’t. It’s just me being over analytical; I have lost out and gained in equal measure.

I have managed to limit my interfering, I don’t think I’ll be able to cut it out completely though. I reckon that it is just in my nature to analyse. I have recognised when I over interfere though, and that has reflected in maintaining an income and a trading account.

The SAS Forex Trading System is now available to purchase. It is available in limited numbers at this low price. Take a look here.

 

Let’s take a look at how things have been in the past week, commencing Mon 16 May. We start the week on +525 pips gained from previous 3 weeks. Trading is at £2 per point.

16/05/11,

A.M:      GBP/USD: A pretty slow start to the week here. I wasn’t 100% confident, even though indicators were signalling a climb, the pair stuck pretty much to just below the DPP for the most part. I decided to leave this and possibly look in again when the US market opened.

 EUR/USD: Similar set up to GBP/USD initially, however, the price movement seemed to be more positive than GBP/USD. I set up a long trade, entering @ 1.4120 just after 08:00. That auto completed @ 1.4145 between 08:30 – 45 for a 25 pip gain.

P.M:      No further trading done.

Running total for week = 25 pips.

17/05/11,

A.M:      GBP/USD: Signals’ indicating a climb this morning, price was initially just above the DPP. I waited for a while, eventually going long @ 1.6215 at around 07:15. I kept the stop loss tight @ 1.6200 & set a profit limit @ 1.6250, but would have been happy to get out @ 1.6235. As it was, the trade auto closed @ 1.6250 for a 35 pip gain at around 08:40. With economic data to be released at 09:30, I left this pair.

 EUR/USD: Sig’s pretty much similar to GBP/USD this morning, but the price seemed more reluctant to pull away from the DPP of 1.4149, which it was initially trading at just above. Once I placed a trade on GBP, I left this alone. After the GBP trade ended profitably, I looked in here again. I spotted a potential change in the dynamics of the indicators, and this seemed to be confirmed with a look on M5 chart. I pre-empted a potential move down in price and opened a short trade once the price moved below the DPP, opening @1.4147, again, keeping the stop tight at 15 pips. For a while, it did look as though I had made a good decision, but the price reversed back up from 1.4134, taking me out of the trade with a 15 pip loss. Not all doom and gloom though, still 20 pips up on the morning trades.

P.M:      No further trading today. I did look back in for a while between 12:30-13:00 but wasn’t really inspired. There was a potential for a continuation down for GBP/USD, but that would’ve meant pre-empting a little too soon. Already had fingers burned doing that this morning, so protect the account and be happy with 20 pips it was.

Running total for week = +45 pips.

18/05/11,

A.M:      EUR/USD: No trade on here.

               GBP/USD: Price was trading above DPP, and indicators pointing to a long trade. I needed to be out early this morning, so I set a long order to open @ 1.6290, just above the previous high. As usual, I set profit limit for 25 pips because I wouldn’t be there to monitor the trade. I kept the stop at 20 pips. On my return mid afternoon, I discovered that the trade had not been triggered. Annoyingly though, I also missed out on a potential 75+ pip trade, on just this pair.

P.M:      No further trading. No gains today, but more importantly, no losses.

Running total for week =  +45 pips.

19/05/11,

A.M:      GBP/USD: Indicators initially signalling a climb here this morning. However, the price was below the DPP and the candlesticks were red, so I waited a while. Just prior to 07:00, I set an order to open short @ 1.6145 because the indicator dynamics looked to be changing. From 07:00 there was another turnaround with the price climbing. Obviously the short trade had not triggered, so my instinct was to sit and wait to see if the price would break through the DPP. By 08:15 I felt it would not get through as the candlestick body closed below the MA’s. I decided to stay with the short trade, moving the entry point up to 1.6160. I set the stop to 1.6185, which was just above both the last high point and the DPP, and my profit limit was set @ 1.6130. This was achieved at around 08:40, giving a neat 30 pip gain.

                EUR/USD: Stayed with GBP/USD this morning. Had I traded this, I could also have made 30 pips here. Never mind.

P.M:      Didn’t trade this pm. Once this morning’s trade was in the bag, I took myself off for a spot of fishing.

Running total for the week =  +75 pips.

20/05/11,

A.M:      GBP/USD: No trade on here

               EUR/USD:    ---DITTO----

P.M:      I do not usually work after completing morning trades on Fridays. It’s fun time from then on.

Running total for the week = +75 pips.

Cumulative total* = +600 pips.

Here’s hoping next week brings more of the same, or better! Have a good weekend and good fortune on the trading platform next week, until then, ciao for now.

* Since resumption of this weekly blog, trading week beginning 26 April 2011.

The SAS Trader : Weekly Review.

Hello, welcome to this weeks’ review of The SAS Trading System.

It’s been a while since GBP/USD has had an extended run on a downturn, over a year in fact when you look at the weekly chart. Could this be the beginning of a better run for the Dollar against the Pound. To confirm that as the case, I would be looking for the price to break below 1.6000.

Not that that really affects me anyway. As a scalper looking to take an average 25/30 pips per trade, all I need to see is movement, and there has been plenty of that recently. You may notice that I missed out on phenomenal profits on Wednesday. I could have actually broken my record of 177 pips in a day by a long way here. A combination of giving in too soon (my lack of patience setting in again), and having to be out for the opening of the US market getting the better of me here. Not to worry though, I’m sure there will be many other days like that to come.

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 09 May. We start the week on +380 pips gained from previous 2 weeks. Trading is at £1 per point.

09/05/11,

A.M:      GBP/USD: Day off.

  EUR/USD: Day off.

P.M:      Day off

Running total for week = 0 pips.

10/05/11,

A.M:      GBP/USD: Initially unsure @ 06:45, indicators pointing to a short trade. Pair trading just above DPP for a while. Decided to follow signals and set order to open @ 1.6360 just after 08:15, looking to bag 30 pips, the limit was set to 1.6330. Happily, this came off almost instantly. I had been checking EUR/USD chart, and when I looked back at GBP/USD chart 5 min’s later, the trade was done and dusted. I was fortunate here, however, as the price hit a low of 1.6325 before rebounding and climbing to hit what would’ve been my stop loss at 1.6385.

  EUR/USD: As with above here. Although the signals showed a reverse of early fall by 08:00 on M5 chart, that hadn’t yet happened on M15. I felt that it may still come down, as the price had been way below the DPP. I decided to set a short order to open @ 1.4300, looking to 1.4270 as my target, 1.4325 was my stop loss. Once again, good fortune stepped in to help me out here. The price hit a low of 1.4303 (3 pips short of tripping my trade) before turning back up, making a good 70 pip gain. I cancelled my order once the price broke 1.4330.

P.M:      No further trading today. Gone fishing sign went up.

Running total for week = +30 pips.

11/05/11,

A.M:      EUR/USD: No trade here. Signals were indicating a short position, but I decided to just stick with GBP/USD.

               GBP/USD: Signals were indicating a short trade, and price was below DPP. I decided to wait a while at first as Frankfurt was just opening, and candlesticks were going in opposite direction. I eventually set an order to open short @ 1.6360, this was triggered after 07:45 and fell as low as 1.6353 before another rebound took it into negative territory. I did have a chance to close out positively around 08:20, but waited to see which way it was going to go. By 09:00 the MA dynamics had changed and I slunk out with my tail between my legs, closing out manually @ 1.6380 and 20 pips down. It could have been worse though, as the price well and truly broke through the point I had my stop loss set @ 1.6395, so I actually saved myself 15 pips. I knew I was beaten today and called it a day. The annoying thing was, if I had gone with EUR/USD too, I would have made 25 pips and that would have left me 5 pips to the good. Ah well, you win some, you lose some, but we’re still in positive territory for the week.

P.M:      No further trading today, had to be out for an appointment.

               

Running total for week =  +10 pips.

12/05/11,

A.M:      GBP/USD: Indicator dynamics were changing over to indicate a short trade as I logged on. I set an order to open @ 1.6340, which auto closed @ 1.6310 for a 30 pip gain prior to 08:00. I didn’t need to be anywhere this morning, so I sat & waited for financial data release @ 09:30, which wasn’t too good for the £. I entered a short trade @ 1.6295 just after 09:30, no limit set on it. I was hoping for at least another 30 pips. But over 1 hour later, there wasn’t much difference. I had decided that I was going fishing again a little earlier, so I closed the trade with an 8 pip profit, 38 pips to the good so far.

                EUR/USD: Indicator dynamics were changing here too, but it didn’t seem as certain as GBP/USD, so I sat on this one while GBP was running. At 09:30 I had a look at M5 chart and decided that it would be ok to enter a short trade here too. I entered @ 1.4190, but impatience, and the urge to go fishing was too strong. I closed out here @ 1.4165 with a 25 pip gain. Yes, I could have set a limit and let it play out making a 50 pip gain, but there’ll be other occasions I can do that. This morning then, between both pairs I have made 63 pips. Come on – you have to be happy with that huh.

P.M:      No further trading today.

Running total for the week =  +73 pips.

13/05/11,

A.M:      GBP/USD: Pre-empted the signals here, although the price was below DPP, I entered a long trade around 06:35 @1.6260, looking for 30 pips. Twice it touched 25 pips before falling back. On the second occasion of it falling back, I decided to quit, getting out just after 08:00 @ 1.6262 for a 2 pip gain. Should really have taken the 20/25 pips, but there you go. Had I been going out somewhere, the target would have been hit.

                EUR/USD: Pre-empted the sig’s again here. This one worked out for me. Price was trading above DPP, and there had been some good economic data coming out of Europe which helped it along. I entered long around 06:50 @1.4235, again looking for 30 pips, and that was auto completed by 07:05. As I had bombed out on GBP/USD, and this pair appeared to be on a run, I couldn’t resist getting another trade on. Everything was still looking right, so I entered a long trade @ 1.4260, letting that one run to 1.4300, closing that out just prior to 08:45 with 40 pips in the bag. That done it for me, I didn’t wish to tempt fate, and I was 72 pips to the good for the day. Let’s not be greedy huh!

P.M:      I do not usually work after completing morning trades on Fridays. It’s fun time from then on.

Running total for the week = +145 pips.

Cumulative total* = +525 pips.

Here’s hoping next week brings more of the same, or better! Have a good weekend and good fortune on the trading platform next week, until then, ciao for now.

                * Since resumption of this weekly blog, trading week beginning 26 April 2011.

The SAS Trader : Weekly Review.

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.

The SAS Trader : Weekly Review.

Hello, welcome to the weekly review of The SAS Trading System.

I have recently taken a much needed break, and I feel 100% better for it. During my time out, I decided to include EUR/USD to the armoury.  I felt that relying on just GBP/USD was limiting my profit potential; but more importantly, forcing me into making bad judgements, thus bad trades in pursuit of profits. I felt that I had to trade, that if I didn’t trade I was being lazy.

I realised after a short time of reviewing the recent past, my problem was desperation.  I was trading stupidly, and breaking every rule I had laid down for myself, but I had handicapped myself by only working GBP/USD. Even when it was clear there was no real trading opportunity, I placed a trade in hope.

All that has changed now, I now have a sensible head on. If there is no trade with GBP/USD, I look at EUR/USD, and if that isn’t looking too good, I turn off the computer and walk away. Of course, there will be opportunities to trade the two pairs, but to be honest, as long as I end up being able to pay myself a living wage and leave some money to grow the account at the end of each week, I’m happy.

Let’s take a look at how things have been in the past week, commencing Mon 25 April. Trading is at £1 per point.

25/04/11,
A.M:   GBP/USD: wasn’t happy with the signals, decided to leave for now.
           EUR/USD: picked up a nice 25 pip gain here. Entered long @ 1.4570 auto closing at 1.4595.         P.M:    No further trading today.


Running total for week = 25 pips.


26/04/11,
A.M:   GBP/USD: wasn’t initially happy with signals, but anticipated a change and entered long trade @ 1.6480. Closed with a 25 pip gain @1.6505.
           EUR/USD: came good for me again, & once again I anticipated the move. Took a 30 pip profit here. Entered long @ 1.4535, closed @ 1.4565.


P.M:    GBP/USD: picked up the reverse movement from earlier. Entered short @ 1.6480 (again) just after 12:15. Auto closed @1.6450 between 14:00 – 14:15 for an extra 30 pips, making 85 pips gained today.


Running total for week =110 pips.


27/04/11,
A.M:   EUR/USD: No Trade
           GBP/USD: Signals turning & pointing to a short. Set order to open @ 1.6485 with a 50 pip profit limit. Auto closed @ 1.6435 between 09:00 – 09:15. + 50 pips.


P.M:   No further trading today.


Running total for week = 160 pips.


28/04/11,
A.M:   GBP/USD: Mixed signals at 06:45 this morning. There was advance warning of a change on the 5 min chart, but waited for further confirmation on M15. 07:45, set order to open short, entering @1.6690. Just after 10:00, I foolishly moved my stop loss in to 1.6660, thinking it would fall further. It did fall further, but only after posting a mini rebound which took me out of the trade. However, I was still 30 pips to the good.
            EUR/USD: Wasn’t too confident with this pair today. No trade here.


P.M:   No further trading today.


Running total for the week = 190 pips.


29/04/11,
Day off. Suffering with a hangover, so a lie in was very much in order.


Here’s hoping next week brings more of the same, or better!