Good Scalps and More Upsides Friday !

European Session

No. of signal recommendations: 3

End-of-session results: EUR/JPY (+20 pips), AUD/JPY (0 pips) and CHF/JPY (0 pips)

Max potential: Over 20 pips


100-pip Dynamic System

Dynamic entries: 3

Current risks: Zero risk x 2, 40

End-of-the-day profits: +80, +80, +20

I liked what I saw on my charts. I was holding the remaining half-sized positions due to their upside potentials. I was proved right later.

Here are the related charts: Closing-In on 100-pip Target

Hence, a good end to the week as the yen-cross pairs were obviously the better setups for this week ! Hope you did well too.

>> Click Here for My Live Forex Trading Sessions Next Week

Dollar Surges Ahead Thursday

European Session

No. of signal recommendations: 5

End-of-session results: EUR/USD (-10 pips), AUD/USD (-10 pips) , USD/CHF (-25 pips), USD/CAD (-5 pip) and CHF/JPY (-20 pips)

Max potential: Over 50 pips

Late Session

No. of signal recommendations: 1

End-of-session results: EUR/JPY (+5 pips)

Max potential: Over 30 pips

Most of the positions ended in the slight negative territory. Despite having some initial profits, it was not a difficult choice to give in as the dollar showed relentless strength.

US Durable Goods Orders Stronger Wednesday

US Session

No. of signal recommendations: 4
End-of-session results: GBP/USD (0 pips), EUR/USD (-25 pips) , AUD/USD (+15 pips) and USD/CHF (-20 pip)
Own P/L: +31 and +32 pips

100-pip Dynamic System

No. of improved entries: 3
Running risks: Zero risk, 42, 46
Potential profits: +70, +10, +20

It was a rough session since the durable good news came out not in tune with our sentiment indicator.

Meanwhile, those dynamic entries had paid off well, benefiting from the price reversal momentum.

100-pip Target Hit - EUR/JPY

The late session signal (last Friday) with EUR/JPY has finally yielded the 100-pip target.

However, on this occasion, I only took several 20+ pips for this trade idea.

Full of Action and Winning Start Tuesday

European Session

No. of signal recommendations: 5

End-of-session results: GBP/USD (-20 pips), EUR/USD (+15 pips) , AUD/USD (+25 pips) USD/CHF (+5 pip) and USD/CAD (+30 pips)

Maximum potential: Over 120 pips !

Own P/L: 87 pips

US and Late Session
No Trade

>> Click Here for My Forex Trading Sessions

I was able to book some quick profits from the 4 opened positions (out of 5) in the European Session. 20 - 40 pips are usually reasonable with the early-hour positions. Moreover, the success rate seems to improve when dealing with the major currency pairs.

Public Holiday Monday

US markets will be closed on Monday in observance of Memorial Day, while UK markets will be closed for the Spring Bank holiday.

We'll enjoy the day off as well. Hope you have a great long weekend.

Meanwhile, my day trading service and forex trading will resume on Tuesday.

As my Service Subscriber, you will have immediate access to my:

# Special Day Trading Template for Monitoring Trading Opportunities on 10 Currency Pairs
# Latest Technical Market Sentiment Data of US Dollar and Japanese Yen
# Daily Trading Bias and Live Update on Key Economic News Releases
# Up to 5 Trade Ideas Covering London, New York and Late Trading Sessions Every Day
# Full Details about my Day Trading Approach

New Trade Ideas and Back to Normality Friday

European Session

No. of signal recommendations: 2

End-of-session results: EUR/USD (+15 pips) and USD/CAD (0 pip)

Maximum potential: Over 35 pips

Own P/L: 4 x 24 pips !


Late Session

No. of signal recommendations: 1

End-of-session results: EUR/JPY (-5 pips)

Maximum potential: 5 pips


100-pip Dynamic Stops

No. of improved entries: 3

Running risks: Zero risk, 10, 69

Potential profits: +70(open), +20 (out), +10 (open)


>> Click Here for My Forex Trading Sessions

The system was inactive in the early part of the week due the current market conditions. Based on yesterday and today's market actions, I could sense that the system was slowly returning to normality. I hope to see more new trade ideas being generated via this approach next week.

One Aussie Trade Thursday

US Hours

No. of signal recommendations: 1

End-of-session results: AUD/USD (-20 pips)

Maximum potential: 5 pips

This was on the back of my mind today. For this market sentiment approach, I liked having more signals in a session instead of one out of the 5 -6 major currency pairs being monitored. I liked to see more more price correlation among those pairs.

Price Continuation and Sentiment Data Wednesday

Wednesday
No trade

US Dollar Sentiment Score:
80% (bearish)

Yen Sentiment Sentiment Score:
52%: (neutral)

Another sell-off day for the dollar as the Euro vaulted to a one-month high against the dollar. Despite being bearish on the dollar, there was no setup via the signal software today. Looking forward for tomorrow action instead.

Safe Trading and No Automated Setup Tuesday

As mentioned in the yesterday's posting, the US dollar was at a major crossroads. We had actually turned bearish and were right for not participating. There was a late surge for the US dollar during the New York hours.

Only in today, it did a surprise U- turn move, by sending the Euro to hit a 3-week high. Since we're back to the neutral stance, there was no trade setup. We shall remain in the wait and see mode for now. I'm really keen to get back into action.

On the other note, the FAPS has been caught out once again, this time in a short mode ! We'll see if it could make an escape once again. Another rough month for this ea, I suppose?

>> Click Here for My Next Forex Trading Sessions

Turned Bearish on the US Dollar Monday

We just turned bearish on the US dollar from a bullish stance, but I didn't pick up any entry signals in both London and US pre-opening sessions. Thus, we will stay on the sideline at the moment till we gauge further the market technical outlook by the end of the day.

Here is another good reason to take a pause:

There were mixed signals on the dollar outlook as indicated by the Trend Scores.

The following major pairs have been out of sync for quite some time. The US dollar is clearly at crossroads.

Trend Score for EUR/USD: (+75) Uptrend
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend.

Trend Score for GBP/USD: (-75) Downtrend
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term downtrend.

>> Click Here for Upcoming Live Forex Trading Sessions

Fine-Tuning Your Forex Killer Signal Entry and Exit (2)

Earlier, I have suggested a possible way to get better entry points for the chosen forex killer signals. I have been practising it for a few weeks now and it's time to find out how good is the method.

• How to Make 100 pips in One Single Forex Trade

I have performed an analysis of my last week trades to look at their end results.

Here are a few noteworthy observations:

1) Our system generated 13 signals. Based on the new entry criterion, 11 of them (85%) scored at least 10 pips or more; 10 of them (77%) scored at least 20 pips or more; and 8 of them (62%) scored at least 30 pips or more.

2) Only 2 out of 13 (15%) scored less than 10 pips and at the end resulted in a loss of no more than 40 pips based on the use of dynamic stop.

3) 5 of 13 (38%) went on to score more than 50 pips and 2 of them (15%) hit 100-pip target.

So what are the best exit levels for these positions and for this fine-tuning strategy? The above analysis can help put things into perspective.

Based on these results alone, I will suggest booking 20 -30 pips immediately for this type of improved condition entries, simply due to their high success rate.

You can even book half the profit and leave the remaining half open instead, knowing that there is a 50% chance it will hit 50 pips and a long shot of 20% it will hit the high target of 100 pips.

Please take note that the calculated odds may improve depending on the market conditions. For example, there were some really strong results in the early part of May.

Last but not least, always remember to set your stop to limit your risk at all time.

Business as Usual for Forex Autopilot

We had a lot of discussions (see here and here) about the operation of forex autopilot.

Last month April, we had our first negative return month of the year. Hence, this month should be an interesting month to follow up. Until yesterday, only 3 trades has been closed out in May. Today, I just saw the 4th trade being closed out for a profit after recovering from an early drawdown.

It is not difficult to understand the autopilot EA trading concept.

Basically, the more closed trades you have, the more profits you make.

The monthly P/L can be simply calculated using this formula:

(n-1) x (tp) - (dd)

n being the total of open trades in a month. tp is the take profit level (20 pips in this case). Due to a monthly reset, dd being the final p/l of the last open trade of the month, which is usually a drawdown.

Let's hope it is business as usual for this autopilot ea from now on, at least for this May.

Updates: ForexAutoPilot EA May' 08 Performance (+31 pips)

New Member Testimonial: From Donald

I just received this e-mail today:

Hi

I have been using your trading system for one week. I am paper trading. I also made ten trades, nine of those trades were profit and one loss. I hope to continue with successful trades. I will start trading for real in the near future. Starting with .10 instead of 1.00 , until I get comfortable in making money.

Regards
Donald

My reply:

Great to hear that. And I agree with you, to take things slowly.

Lloyd

See also:
New Member Testimonial: From Zeljko

Back To Work And Dollar Retreats Friday

European Session
No. of signal recommendations: 2
End-of-session results: GBP/USD (-10 pips) and EUR/USD (0 pips)
Maximum potential: 20 pips

US Session
No trade

I had two dynamic stop signals. No results yet by the end of the session. Let's see what do they bring in later.

Update: Dynamic stops in place with 41, 31 but were out after the lower-than-expected US sentiment. There were +30 and +25 pips initially on these positions after opening.

100-pip Target Hit - GBP/JPY

The yesterday's late session signal gave us the dynamic entry on the GBP/JPY. It was the second 100-pip signal of this week !

There will be no more update/results for today as the trading conditions have not been met.

Busy and Fast Action Wednesday

European Session
No. of signal recommendations: 4
End-of-session results: USD/CAD (-10 pips), EUR/JPY (-10 pips), AUD/JPY (+20 pips) and CHF/JPY (0 pips)
Maximum potential: over 80 pips

We had our first major signal (USD/CAD) of the week ! The position immediately yielded +30 pips after entry but retreated towards the end of the session. Besides that, there were also many good scalps with the yen-crosses pairs.

EUR/JPY 100-pip Target Hit and Similar Setup Tuesday

European Session
No. of signal recommendations: 1
End-of-session results: CHF/JPY (+55 pips)
Dynamic entry: Yes
Maximum potential: Over 60 pips

The improved signal entry on EUR/JPY has hit the final target of 100 pip overnight :) Meanwhile, we had another good entry this morning too , currently sitting at +50 pips.

Late Session
No. of signal recommendations: 3
End-of-session results: GBP/JPY (-70 pips SL), EUR/JPY (-50 pips), AUD/JPY (-35 pips)
Dynamic entry: Yes, waiting x 2
Maximum potential: 30 pips

We had almost the same setting as yesterday ! I entered one signal so far and was patiently waiting in the post-session hours. I didn't want to miss out the similar setup which gave me +100-pip with EUR/JPY this morning.

Profitable Start with Yen Crosses Monday

US Session
No. of signal recommendations: 2
End-of-session results: AUD/JPY (+50 pips) and CHF/JPY (+5 pips)
Maximum potential: Over 70 pips

A rest day for the majors, hence I waited patiently for the setups on the crosses this morning. I picked up two signals and it was a good return in the US session.

Late Session
No. of signal recommendations: 2
End-of-session results: EUR/JPY (-70 pips SL) and GBP/JPY (+25 pips)
Maximum potential: Over 50 pips

I didn't enter with these first conditional signals by the FK, but again waited for the better entry point as mentioned here. It really saved me a fortune today especially when dealing with the volatile pairs.

100-pip Dynamic Stops
No. of signal entries: 3
Running risks: Zero risk, 31, 70
Max profits: +50

Euro In Play & Wild Ride Crosses Friday

US Session
No. of signal recommendations: 1
End-of-session results: EUR/USD (+10 pips)
Maximum potential: 25 pips

Late Session
No. of signal recommendations: 1
End-of-session results: CHF/JPY (+5 pips)
Maximum potential: 15 pips

100-pip Dynamic Stops System
No. of improved signal entries: 2
Running risks: Zero risk, 35
Max profits: +30, 0
Target hit:

>> Click Here for Upcoming Live Forex Trading Sessions

We entered near the day high on EUR/USD and there were some nice profits to be booked throughout the session (10 - 25 pips). The downward move was surprisingly slow and mild despite the "in tune" US trade balance report.

The remaining position was also a zero-risk trade by setting a parachute stop loss at 30 pips. Since this euro trade went my way 30 pips in the post-session hours, the parachute stop loss was triggered. If the price comes back to my entry, I will get out flat.

Again, the late hours action was slow again. May be we had enough of the wild actions seen in the yen crosses during the last 2-3 days.

On the other hand, I was able to take a wild ride on the yen-crosses markets last night - simply go short when the market is trending down (as mentioned in the bonus strategy). Those positions produced over 200 pips overnight.

It was doable. I picked up my confirmations from the following trend check analysis and acted without the help of forex killer as signal entry:
Japanese Yen Market Sentiment - 80% Bullish
Smart Scan GBP/JPY Trend Score: - 65 (Downtrend)

Choppy Action and No Trade Thursday

Thursday
N0 trade

>> Click Here for Upcoming Live Forex Trading Sessions

Market movements in the last few trading sessions seemed pretty erratic and tough to follow. There were simply non-tradable market conditions according to my system diagnosis. I felt pretty good already by being able to follow my own game plan - patiently waiting for the right setups. I am also optimistic about the system potential in generating steady profits over the long haul.

Dollar Rebounds and Trend Resumes Wednesday

Majors
No. of signal recommendations: 1
End-of-session results: USD/CAD (+35 pips)
Maximum potential: 40 pips

Crosses
No. of signal recommendations: 2
End-of-session results: GBP/JPY (-5 pips) & EUR/JPY (-45 pips)
Maximum potential: 40 pips

>> Click Here For My Live Forex Trading Sessions

A straightforward win on the Loonie position this morning. It's good to have an easy ride on the majors.

On the other note, I slightly misplaced my EUR/USD and USD/CHF stops yesterday by a margin of 5 - 10 pips before the dollar quickly rebounded. Those positions were unfairly stopped out. As a result, I reentered my positions with tight stops around those levels and I reset my new 100-pip targets.

Both positions hit their targets in less than 12 hours overnight, and I only gained back what I lost plus 20 pips more. As the dollar continued to surge ahead today, the earlier losing trades could have become zero-risk trade, plus hitting the original 100-pip targets. What an amazing twist and turn plot.

Steady Start and Dollar Retreats Tuesday

European Session
No. of signal recommendations: 1
End-of-session results: USD/CAD (+10 pips)
Maximum potential: 20 pips

US Session
No. of signal recommendations: 2
End-of-session results: EUR/USD (-40 pips) and USD/CHF (-40 pips)
Maximum potential: 10 pips

100-pip Dynamic Stops System
No. of signal entries: 3
Running risks: 26 , 73 , 81
Max profits: +20, +5, +10
Target hits: 0
Own p/l: -26, 73, -83, +100 (hit), +99 (hit)

>> Click Here For My Live Forex Trading Sessions

A bad US session where the US dollar was sold off broadly in every major markets. Prices were further pushed down to breach the key resistance and support of 1.5590 (for eur/usd) and 1.0430 (usd/chf) briefly in the post-session hours. I was expecting these levels to hold ! I had reentered some small positions here near these key levels and with tight stops to catch the final price reversal.

Tricky Action and Lack Conviction Monday

European & Late Session
No trade

US Session
No. of signal recommendations: 2
End-of-session results: GBP/JPY(+10 pips) and AUD/USD (-25 pips)
Maximum potential: 20 pips

>> Click Here For My Live Forex Trading Sessions

A choppy day after Friday's non-farm payrolls report. Dollar bulls seemed to lack buying conviction despite the better-than-expected ISM number. Lack of market participants as well may be because it's a public holiday in UK today. Perhaps I should have spent the day outdoor too :)

Members Feedback & Review

Lloyd - "Check out how I beat the market, even on a down day."

Here are some members feedback I received so far:

Zeljko -"I think this is the one of the few rare blogs about FK and forex trading which can really be useful for all forex traders, and especially for us beginners."

Zeljko-"I made calculation following your FK day trading advice, got the tradable signal, fall asleep, and this morning, I had 70 pips more on my acc."

Marcel - "You have the right technical solution for all."

Stan -"I think you have some specific instructions somewhere on Forex Killer strategies that actually teach a person how to use it."

Eddie - "I am enjoying the market sentiment (approach)."

Lawrence -"I used the graph you directed me to to see the sentiment of the market and had a good day today. Made almost 60 pips !"


(FYI, I am currently giving away my additional bonus strategy to new day trading members.)

Ken -"Great scalping strategy, Lloyd. I tried it and it worked."

Him -"Following your method, I managed to nail 30 pips last nite (or morning US time) trading GBP/USD."

Day Trading Service: 12-Week Performance Review

A brief recap. Below are the live day trading results since the launch back in February:

Week 1: +105 pips
Week 2: +25 pips
Week 3: +235 pips
Week 4: +210 pips
Week 5: +225 pips
Week 6: -10 pips
Week 7: -60 pips
Week 8: +210 pips
Week 9: -30 pips
Week 10: -40 pips
Week 11: -55 pips
Week 12: +225 pips

The system winning rates is around 65%. The total pips by the end of week 12 is +1040 pips. The system recorded three consecutive winning months (Feb -Apr): +365, +455, +45 pips so far -thus averaging +288 pips per month.

By the end of week 12, we had 7 winning weeks totalling +1235 pips and averaging +176 pips per week. 5 losing weeks totalling -195 pips and averaging only -39 pips per week. Based on these figures, the reward-to-risk ratio is a healthy (at least) 4.5 to 1 on the weekly basis. This will hold true as long as we can keep the average winning pips and simply have more positive weeks.

Once I have more statistics, perhaps I can perform a simple projection on the system earning potential. My system uses automated trade setups based on fixed entry and exit rules.

For your information, I have already running an additional system utilising the same trade setups from late April, which is aimed at finding better trade entries and exits. I will run a separate performance review for those trade setups too.

All of my trade setups can be found on the member site. I appreciate your kind and positive comments which help to keep me motivated all this long.

Non-Farm Payrolls Friday and 5 x 100-pip Gains !

European and US Sessions
No Trade

>> Click Here For My Live Forex Trading Sessions

It was a no-signal, hence non-action day. After using the FK signal software for many months and by following the charts all these times, you're sort of getting familiar with the software tool and almost know when the actions are due.

Today, I was following the charts and hoping to get a signal confirmation on the GBP/USD market before the job report. But I was disappointed for not getting one. I had an insight but decided not to outsmart the system which so far worked well for us. Thus, it was an action-less day.

Nonetheless, I was still holding the last zero-risk position from yesterday and the USD/CHF also hit the final target of 100 pips after the "in-tune" job report. Making it 5 out of 5 signals and hence already 500 pips for the taking just two days into May ! I am quite pleased with my decision to go live with the dynamic stops system despite the increased work load.

Profitable trading and have a great weekend.

100-pip Target Hit - USD/CHF and 5 x 100-pip Gains

Making it 5 out of 5 since May 1st ?!! I'm over the moon. Not bad for holding this zero-risk trade overnight. And of course, the gain was realised by the help of a better-than-expected Non-farm Payrolls job report.

A Fresh Month and Strong Start (+175 pips) Thursday

European Session
No. of signal recommendations: 2
End-of-session results: GBP/USD (+30 pips) and USD/JPY (+35 pips)
Maximum potential: Over 105 pips !

Hello May ! We started off the month with some fresh wins on the majors. They were straightforward signals on the hourly time frame. Hence, some good profits by the end of the session. In addition, I am going to trail these signals in post-session hours and aim to get them to hit my targets.

US Session
No. of signal recommendations: 2
End-of-session results: USD/CHF (+30 pips) and USD/CAD(+80pips)
Maximum potential: Over 100 pips !

More wins in the afternoon ! It turned out to be a very bright day for the system. Apparently, it made more gains in one day (+175 pips) than the last whole month (+45 pips). This is why i never missed a trading day so far since the start ;-)

Late Sessions
No. of signal recommendations: 1
End-of-session results: GBP/JPY(+35 pips)
Maximum potential: Over 70 pips !

As promised, the Trading Report for April is ready for viewing.

>> Click Here For My Live Forex Trading Sessions (Non-farm Payrolls Day Tomorrow)

100-pip Dynamic Stops System
No. of signal entries: 5
Running risks: zero-risk (x5)
Max profits: +100-pip (x4) , +50
Target hits: 4

In addition, we also saw the trailing stop system hit the 100-pip target for the GBP/USD in less than 7 hours and another 100-pip for USD/CAD in less than 4 hours - a record time ! The GBP/JPY trade also hit the final target in late hours. Definitely the best one-day results so far.