Long EUR/USD, AUD/USD & Short USD/CAD

Closed EUR/USD at 1.4176 for +50 pips

Closed AUD/USD at 0.8105 for +35 pips

Covered USD/CAD at 1.0891 for +75 pips

We bagan trading for the month of June with three winners. +165 pips for the day.

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May 2009 Daily Subscriber Signals +640 pips

+355 pips (Majors), +285 pips (Crosses), Total: +640 pips

Once again, the market sentiment approach was spot on last month. Hence, a very productive month for day trading.

The latest pips count of the system can be found here. Note that my daily forecasts and live signals are delivered via a specially prepared spreadsheet template.

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Hitting A Trading Milestone

As a part-time trader who has an intense longing for success, I hit an important milestone today.

Back in November, I recognised some good trading opportunities. As a result, I started running and managing my two metatrader accounts and also a CFD trading account at the same time.

During the past six months, I funded another metatrader account with profits and had actively traded with those accounts.

Today - my five figure CFD account has just been doubled after a six-month period. I appreciate my past efforts in blogging which, somehow, made me a better trader. Despite my tight schedule nowadays, I recognise the importance of running the blog more often.

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Market Timing, US Dollar And Carry Trades

For the second day in a row, dts was able to make gains with new long positions in the yen-crosses market. I was able to claw back +280 pips in just two days, after the "mini blow-up" incident in late April. Despite positions going haywire that week, my account was well protected at all time, thanks to my strict stop-loss policy. And since I know my system well enough, I am going to up my ante bit by bit from now onwards.

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Hector's New Site LearnForexLive & DVDs Giveaway

Hector has just launched a new site: LearnForexLive, hoping to become the best Forex club around.

In order to celebrate the launch of his new forex trading site: LearnForexLive, Hector is giving away 200 DVDs where he explains in detail one of his best and most profitable trading strategies... absolutely for free! The DVD has over 15 live videos with great Forex material, strategies, etc.

That's right, he has copied a limited 200 DVDs and he want to give you a copy as a complementary. For all Scoutforex readers, make sure you secure your copy right away before he run out of them.

Hurry and here's the link => LearnForexLive. See you guys there.

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US Pending Home Sales Gain, Newstrader Adds +83 pips

I was proved right. The pending home sales came out surprisingly good and many investors took this opportunity to chase the price higher. We positioned the newstrading program rightly to benefit from this news action.

News event: US Pending Home Sales
Long GBP/USD @ 1.4888 for +25 & 58 pips

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April 2009 Daytrading Results

+210 pips (Majors), -60 pips (Crosses). Combined monthly return: +150 pips

I started quite well with the two systems but ended giving back most gains in late April. A "mini blow-up" when trading the yen-crosses had cost me a whopping -435 pips in one week. It was a record nonetheless - the largest losses the system had taken in a single week since the record began.

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Newstrader Could Push Higher in May

The Newstrader win-rate dipped to 55% in April, and gave an overall -53 pips for the month. But I would take these results happily considering it was not a straightforward month for trading the economic news releases.

Due to the strong rally seen in the stock market during April, I noticed that bearish US economic data were not able to make a strong impact on the price movement. Occasionally, European currencies such as the British pound could even make ground against the US dollar despite the improving US economic outlook, benefiting from increasing risk-taking activities.

This is about to change due to the growing uncertainties about the market outlook. Investors hope to gain more clues from the economic releases from now onwards. In that case, it will be easier for the Newstrader to make further progress.

Here comes May and the program so far records a better start to the month. Two trades were taken on Friday with UK Manufacturing PMI yielding +40 pips and US ISM Manufacturing Index +45 pips. I hope I am right.

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A Year of Performance Tracking

It has been more than a year since I first started to measure my daytrading system performance on a monthly basis. Here a couple of charts I put together to see how I have been fairing:

These graphs tell me that I have been doing the right thing all year long by:
1) Generating the right trading ideas at the right time
2) Diversifying my money in two different market places, i.e. Major Pairs and Yen Crosses.

I am able to make steady gains with the two systems, simply by betting against the short-term moves for the US dollar and Japanese Yen day in day out. The combined results say it all. I have made more gains than losses, 10 positive months out of 14, averaging about 310 pips each month.

Worth mentioning, the only one time my system made a triple-digit losses was back in July 2008, that is -140 pips. Others are -50, -70 and -25 pips in May' 08, Nov' 08 and Jan' 09. Also on the plus side, the system is capable of hitting four-digit monthly gains, which so far outstrip the recorded losses by many times. This has already happened twice: +1175 pips in Aug' 08 and just recently +1055 pips in Feb' 09.

Overall, my system did incredibly well even when the market was volatile. I hope my system can continue to make gains for me and you as the economy recovers.

Here are my monthly daytrading reports:
March 2009 Trading Performance
February 2009 Trading Performance
November 2008 Trading Performance
October 2008 Trading Performance
September 2008 Trading Performance
August 2008 Trading Performance
July 2008 Trading Performance
June 2008 Trading Performance
May 2008 Trading Performance
April 2008 Trading Performance
March 2008 Trading Performance
February 2008 Trading Performance

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LOBS Hitting All-Time High

My LOBS continues to make new highs this month. It managed to add 193.7 pips today. The system win-rate has slightly improved to 71.7% on Day 57.


Read my previous log entry on Day 50:

At present, LOBS is my most valuable daytrading strategy. If you run the system as your trading vehicle, be patient and let the story unfold. Don't worry if you see the EA moves lower tomorrow or the next day. The long-term is what counts for you. So far, the system winning rate stands at 70.8% on Day 50.

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