No Predictions Tonight…

•July 27, 2008 • Leave a Comment

IBFX is still resolving some issues after their server split this weekend, so I won’t be able to make any predictions tonight it looks like. At least I’m able to log into my account again (after waiting 15 minutes in support chat,) but I’m still not getting any historical data from before Friday July 25th (after another 30 minutes in support chat.) Pretty hard to use your indicators when your daily chart consists of ONE LINE : )

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Tutorial – The Lucre Producer© Forex Template

•July 27, 2008 • 2 Comments

I can’t make my predictions yet since IBFX servers are still not up, so I have put together a quick tutorial showing you how to set up your template the same way that I do in MT4. I apologize ahead of time for it’s incredible ghettoness…. this is the combination of using an open-source video capture software on a widescreen monitor while using text-to-speech. You may need to open the video full-screen to see some of the things I am referring to.

If anyone wants my custom MACD indicator I mention/show in the video, you can download it HERE, as an attachment on the third post. Follow the instructions given in that post to install it. That page is also a good overview of my Lucre Producer© system, moreso than I have covered here, with lots of Question & Answers as well.

Once I can log into my account, I will do a tutorial showing how I actually make my predictions step-by-step in realtime. But at this point, it looks like that won’t be until next weekend.

IBFX Servers Down?

•July 27, 2008 • 4 Comments

I’ve been unable to log into my IBFX account for over 24 hours now. I’ve heard rumors from other people that they are doing server maintainence this weekend, but it’s still quite an inconvenience. I’m hoping that they get everything back up overnight so I can do my predictions tomorrow, because I’m currently only seeing data from the last time I logged in (Thursday), and if I try to view charts I hadn’t viewed on Thursday, I get the indefinite “waiting for update” message. It’s a big problem when the majority of your forex work and research occurs on the weekend.

On a more positive note, my blog has a new record for “most views” today with 175. It will also likely surpass the 5,000 views mark within the next 2-3 days.

Week 2 Results – Live Trading

•July 24, 2008 • 2 Comments

Results for this week: +$349.92 (6.7%)
Total Profit (All-Time): +$601.62 (12.1%)

See results for this week HERE
See all-time stats HERE

Comments:
– My only loss this week was selling GBPJPY this morning somewhat hastily. On one hand, I wish that I had held onto it since now that I’m home from work, I would have been in a profit position and my gains would have been another $150 at least. On the other hand, it could have just as easily gone the other way and I would have regretted not selling.

Week 2 – Update 2

•July 22, 2008 • 7 Comments

Closed EURCHF this morning before I went to work, and USDCAD and EURUSD hit their T/P marks while I was at work, bringing my total “locked in” profit this week to about $430 so far… not bad for two days work :P. (Minus my 3 currently remaining trades down about -$180 right now.)

Week 2 – Update 1

•July 21, 2008 • 7 Comments

There was a huge spike this morning across the board against JPY. I checked my account at 7 am and I was down $40. I come back 10 minutes later and I’m down $400! Good 30 pip jump on the JPY pairs… I’m still not sure what caused it.

I closed my trades on USDJPY (@104.90… $85) and USDCHF (@1.0177… $93) tonight, and I also sold EURUSD @ 1.5916 and bought USDCAD @ 1.0008.

Live Trading – Week 2 – July 21 – 25, 2008

•July 20, 2008 • 3 Comments

This week, only 2 of my regular pairs are looking good, so I decided to see if other pairs had any stronger trends… it looks like JPY looks is going to have a very strong week against every currency, so most of my trading this week is there. My goal for this week is $400 profit, although there is the potential that I could make $1,000+ if things go according to plan.

I should also point out that I am essentially “putting all my chips” on the JPY this week, which could either make me rich or ruin me. I feel confident enough that the risk is worth the potential reward. I am also trading 4 pairs with JPY in them, rather than just putting all my money into USDJPY, for example. This should also take away some of the risk, since not all of these pairs will perform exactly the same this week.

I’m so convinced of how JPY will perform this week that I actually made a thread on the babypips.com forum entitled “The Week of The JPY?

But anyway, on to this week’s trades…

All trades this week will be 2.10 lot size, increased due to the gain from last week. This increasing lot size as I continue to make gains is crucial in exponential compounding of my account value.

USDJPY 106.91 – Sell. T/P 104.90
CONFIDENCE: Strong
D- Up
4H- Down
15M- Down

EURJPY 169.37 – Sell. T/P 167.55.
CONFIDENCE: Strong
D – Mixed
4H- Down
15M – Down

AUDJPY 103.92 – Sell. T/P 102.00
CONFIDENCE: Strong
D- Down
4H – Down
15M – Down

GBPJPY 213.30 – Sell. T/P at 211.50 or 210.50. People are saying that as soon as this pair goes down some more, it’s going to hit a lower resistance and then ROCKET up… so I will be on alert for that.
CONFIDENCE: Normal
D- Mixed
4H- Down
15M – Down

USDCHF 1.0222 – Sell. T/P 1.0160 or 1.0058. Temporary, turning up soon.
CONFIDENCE: Weak
D- Up
4H- Down/Continuation
15M- Down

EURCHF 1.6193 – Sell. T/P 1.6090
CONFIDENCE: Normal
D- Mixed
4H- Sell
15M- Sell

Other notes:

EURGBP 0.7925, get ready to buy soon.

Not Currently Trading

EURUSD 1.5837 – Don’t trade
CONFIDENCE: Weak
D- Down
4H- Mixed
15M- Near bottom

USDCAD 1.0055 – Don’t trade
CONFIDENCE: Weak
D- Buy
4H- Mixed
15M- Sell

AUDUSD 0.9701 – Don’t trade. If sold, T/P would be 0.9543
CONFIDENCE: Weak
D- Down
4H- Near bottom
15M- Up

GBPUSD 1.9979 – Don’t trade. If sold, T/P would be 1.9490.
CONFIDENCE: Weak
D- Down
4H- Mixed
15M- Mixed