Check out our currency picks...
There are three main sections New Picks, Current Portfolio, and Recently Closed Picks/Historical Performance. When there is a new trade recommendation, it goes into the New Picks. If the the entry price is reached, we move the trade to the Current Portfolio. And when a position is closed out, it is moved to the Recently Closed Picks and Historical Performance.
With the EUR/USD we have two strategies. Based on major support and resistance prices we will trade for big profits. With our new EUR/USD Indicator we will trade for small profits of about one times the current volatility.
Money Management for currencies. Currencies are volatile markets; therefore, we suggest that for a full size contract (100,000 base currency) at least $20,000 account should be used.
Last updated September 13, 2010 4:15 PM: (Currencies are updated by 6:00 PM New York time each day)
| EUR/USD | |||
Based on our analysis the Euro bottomed early June, 2010 and it is doubtful that we will see the lows of June taken out, which means the Euro will continue to gain against the dollar for the next six to twelve months. We will go long when we get a pull back. We want to catch the beginning of the new bull market and ride it out for a big profit. We are long the Euro, please see the table below.
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Our main focus will be on EUR/USD with two or three traders per year in each of the other currencies.
USD/CAD
Canadian dollar is in a side ways market. We are waiting for a trend.
USD/JPY
Japanese Yen we are long, and we are in for a big profit.
GBP/USD
We do not have any trade for this market.
New Picks
(Please check the entry, stop and profit target each day as they may change)
Currencies |
Symbol |
Long Short |
Entry Price |
Profit Target |
Protective Stop |
Daily Volatility for 100k Contract* |
|---|---|---|---|---|---|---|
Euro |
EUR/USD | $1,700 | ||||
British Pound |
GBP/USD | $1,500 | ||||
Japanese Yen |
USD/JPY | $890 | ||||
Canadian Dollar |
USD/CAD | $1,300 |
*A contract that is worth 100,000 dollars, euro, or any other currency can have a big daily range volatility.
You must have adequate account size to withstand the volatility, and the ensuing potential drawdown.
Or, you should consider trading smaller size contracts such as 50k. A full size contract should be traded
using at least $15,000 account, and a half size contract can be traded with a $8,000 account.
Current Portfolio
| Changed From Last Update |
Currencies |
Symbol |
Long Short |
Entry Date |
Entry Price |
Profit Target |
Protective Stop |
|---|---|---|---|---|---|---|---|
Euro |
EUR/USD | Long | 08/24/10 | 1.2673 | 1.3200 | 1.2350 | |
British Pound |
GBP/USD | ||||||
Japanese Yen |
USD/JPY | Long | 09/08/10 | 83.910 | 87.000 | 81.00 | |
Canadian Dollar |
USD/CAD |
Recently Closed Picks and Historical Performance
Currencies |
Symbol |
Long Short |
Entry Date |
Exit Date |
Entry Price |
Exit Price |
Profit/ Loss |
|---|---|---|---|---|---|---|---|
British Pound |
GBP/USD | Short | 07/28/10 | 08/02/10 | 1.5577 | 1.5846 | 1.7% |
British Pound |
GBP/USD | Short | 07/09/10 | 07/27/10 | 1.5169 | 1.5560 | 2.6% |
Japanese Yen |
USD/JPY | Long | 06/28/10 | 07/01/10 | 89.400 | 88.173 | 1.3% |
British Pound |
GBP/USD | Short | 06/24/10 | 06/30/10 | 1.5000 | 1.5200 | 0% |
Canadian Dollar |
USD/CAD | Short | 06/24/10 | 06/29/10 | 1.04300 | 1.04691 | .3% |
