Previous BLOGs Pip Count : +320
05/13 : GJ LONG @ 201.80 : +220
05/13 : GJ SHORT @ 203.50 : -100
05/13 : GJ LONG @ 204.50 : NT
05/14 : GJ LONG @ 204.60 : CAN
05/14 : GJ LONG @ 204.50 : -50
05/14 : GJ SHORT @ 203.90 : +70
05/15 : GJ LONG @ 203.80 : -100
05/18 : GJ LONG @ 203.00 : CAN
05/18 : GJ SHORT @ 203.75 : +75
05/19 : GJ SHORT @ 203.75 : -75
05/20 : GJ SHORT @ 204.10 : NT
05/20 : GJ SHORT @ 203.15 : -65
05/21 : GJ SHORT @ 203.30 : -180
05/22 : GJ SHORT @ 204.75 : -100
05/23 : GJ LONG @ 205.25 : +125
05/27 : GJ LONG @ 204.75 : +175
05/28 : GJ LONG @ 206.30 : NT
05/28 : GJ LONG @ 206.90 : CAN
05/29 : GJ SHORT @ 207.30 : -115
05/29 : GJ SHORT @ 207.30 : +60
05/30 : GJ LONG @ 208.00 : Active
Final PIP Count ; +260
Est. Return (3.5% risk) ; 9.10%
Est. Return (5.0% risk) ; 13.00%
Friday, May 30, 2008
May 2008 GJ Pip Count
Thursday, May 29, 2008
LIMIT SHORT GJ
LIMIT SHORT GJ @ 208.70
TP 208
SL 209.25
Looking for approx. 70 pips before Moscow open as we are stuck in a range between 208.70 and 208.20. We will move the stop to break even once we are 20 pips in profit.
Possible buys in London up to the 210.50 / 211.00 area
Hello 209.00 We were expecting you...
As I posted on Tuesday I expected to see GJ hit 209 by Friday of this week. I also expected to be on the train when it arrived to the station but due to some mixed daily signals and a few news spikes here and there we were a little late buying our ticket.
I will be looking for SHORTS in Asia, at least that is what it is looking like right now.
More pips to come...
ZuluTrade Tracker Performance
A little information on Zulutrade from their F.A.Q.:
"Zulutrade bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account (from supported brokers) There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market to make a good pick, because hundreds of industry well-known experts from all over the world are doing it for you. All you have to do is pick the experts you like, and Zulutrade will quickly convert their advice into live trades in your trading account directly with the broker. And the best of all, it's completely FREE!"
Today we picked up +228 pips bringing our total pips to +543 pips. We have 1 open trade which is currently -40 pips that is not listed on the above screen shot.
On Friday we will post a screen shot of our LIVE account which is mirroring our Managed Accounts trade for trade.
Our signals can be viewed and subscribed to by clicking here
For more information on Zulutrade you can visit there web site by clicking here
SHORT GJ @ Market
Shorting GJ @ Market (207.30)
It took me a few minutes to get this post up. So for the blog it will be treated as a LIMIT order.
TP 206.00
SL 208.45
Wednesday, May 28, 2008
LIMIT LONG CANCELED
The LIMIT LONG has been CANCELED
Based on price action and momentum readings we will be looking for SHORTS in London.
LIMIT LONG GJ (Expires in 4.5 hours)
I am looking for a tight range buy at approx. 206.90
TP 207.40
SL 206.45
With the current momentums I see on my larger TF's more than likely I will be looking for SHORTS in London. If this LIMIT ORDER isn't filled in the next 4 hours or so it will be CANCELED.
ZuluTrade Tracker Performance
After having some inital problems with Zulutrade's interface and opening several accounts I now have mastered the beast and will begin to upload screen shots on a daily basis.
A little information on Zulutrade from their F.A.Q.:
"Zulutrade bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account (from supported brokers)
There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market to make a good pick, because hundreds of industry well-known experts from all over the world are doing it for you. All you have to do is pick the experts you like, and Zulutrade will quickly convert their advice into live trades in your trading account directly with the broker. And the best of all, it's completely FREE!"
FX Hoy's account, "FxHoy", was only opened on Friday of last week but we are off to a good start with +315 pips banked, 7 trades executed, and a 100% accuracy rate.
Our signals can be viewed and subscribed to by clicking here
For more information on Zulutrade you can visit there web site by clicking here
New Re-Entry Point for GJ LONG
Due to rally on the Pound Yen (GJ) we have up'ed our LIMIT order to 206.30
Same SL for now though that may change.
Our 2 previous longs were closed for +300 pips, but of coarse once we got out...POP. Oh well, banked pips are banked pips.
Taking Profit and Adding a New Limit Order
Based on price action and the current 1hr, 4hr, and 12hr momentums we are looking to TP on our 2 GJ LONGS at the Daily R1, around 206.50. We will then open new limit orders at 205.90
SL 204.79
TP OPEN
Tuesday, May 27, 2008
Holding Longs
We may have a new trade in London if the GJ falls a bit from it's current position allowing us to re enter near our original entry point. Overall we are LONG biased on this pair till the end of the week. It will be a bumpy ride as daily momentums are mixed but 209 should be an achievable target.
LIMIT LONG GJ (NEW POSITION)
LIMIT LONG GJ @ 204.75
TP OPEN
SL 203.55
We still have our other long open from 205.25. Based on current price action we see GJ heading up toward 209/210 by the end of the week. For this reason we have held the original position and will add another if the level above is touched. News out of the US later this morning could provide a bumpy ride although we don't expect to close this position till later this week.
Sunday, May 25, 2008
TGIM : Thank God It's Monday!!?? But....
After closing out a loosing week I always look forward to Monday, Friday's evil cousin, and seeing as we closed out last week on a sour note this week is no different, BUT.....
As many of you know today is a holiday in the US, Memorial Day (Observed), but it is also a holiday in the UK, Spring Bank Holiday, which means the 2 biggest markets are closed today. So today we will be on the sidelines unless we see a more than favorable setup on the GJ. We still have our long from Friday, which is currently under water by about 90 pips.
Let's see what happens.
Happy holidays to the Yanks and the Brits and TGIM to everyone else.
Friday, May 23, 2008
Truley LIVE Signals
For those who are interested you can now receive truly LIVE signals from FX Hoy by adding us to your Skype Contact List. You can do so by clicking on the Skype Button on the right hand side of our blog. When doing so please include the words "LIVE Signals" in your welcoming message to us. If you forgot to do so you can send us a quick email.
This signals will be sent the moment they are posted here at our blog. We will ONLY send GJ signals via this FREE service. In order to benefit from our overall trading strategies you will need to sign up for ZuluTrader and add FxHoy as your signal provider or open a Managed Account with us. Starting in June we will begin to post weekly screenshots of our MA performance here on our blog and will continue to do as even once our web site is live.
Questions? You can Skype us anytime or send us an email at; fx.hoy.capital.management@gmail.com
Bad week...with a silver lining
We finished this week with -345 pips...
OUCH
Our managed accounts (using diverse strategies and not just focusing on the pound yen) did better, with only a -85 pip loss, however overall it was a loosing week.
Losses will happen, but they won't always happen, and as long as your Money Management is in tact these loosing weeks won't effect your trading.
The silver lining....we are still in the green, albeit by only 15 pips.
More pips to come....
Thursday, May 22, 2008
Looking for LONG Entry on GJ
I am looking for a good level to go LONG on GJ, however I am not comfortable doing so at the current market price.
Somewhere around the Daily 5SMA High looks like a good place; approx. 205.15/25
Stay tuned...
Ouch! SL Hit on both GJ Shorts
We took a hard hit today with both SL's being hit on our GJ Shorts for -100 and -180 respectively.
The good news is we are still positive for the month, albeit by a very small margin.
More pips to come....
SL Change / 2nd Entry
GJ SL from previous Short now 205.10
New Short Limit @ 204.75
SL 205.75
TP 202.00
Wednesday, May 21, 2008
LIMIT Short GJ
LIMIT Short GJ @ 203.50
TP 202.00
SL 204.50
This pair has been in a tight 200 pip range for the past few days. A break of the 202.50 area could push us into the mid 201's or lower. Though this range has been hard to trade on the 4hr and higher TF's it has been a great few days for scalping. Unfortunately it is impossible to post scalps on this blog. We may start to Zulutrade some scalps if it is possible.
LIMIT Short GJ : Time Sensative
LIMIT SHORT GJ @ 204.10
This signal will "expire" at 9:45 AM EST (GMT -5)
If any changes are made they will be posted here...
TP 202.10
SL 205.30
SL Hit on GJ Short
SL Hit on GJ Short @ 203.80 -65 pips
There is a possibility we may re activate the original Short LIMIT from 204.10
Tuesday, May 20, 2008
SHORT GJ @ Market
SHORT GJ @ 203.15 (Market price 5:51AM GMT)
TP 202.00
SL 203.80
LIMIT Short has been canceled....for now
LIMIT Short GJ
After EUR news pushed the GJ up through London and New York, hitting our stops, it seems shorts are back on.
LIMIT Short GJ @ 204.10
TP 202.10
SL 205.30
We may close this trade early or move the entry point, however more than likely the entry will remain the same though it may take up until Moscow/Frankfurt to be hit.
Monday, May 19, 2008
Deja Vu : LIMIT Short GJ
Here we go....again......
Basically we are looking at the same setup as yesterday, we have set a Limit SHORT @ 203.75, anticipating that the price will retest the range highs from earlier today (NY) and then attempt to break the 203.10 Daily S1 barrier. If we see consolidation around this level we will TP early...hint, hint....
SL 204.50
TP 201.75
GJ Short Closed
TP taken at 203.00 +75 pips
Price has not been able to establish itself on any of the larger TFs below the daily S1 and a retrace is once again in the cards.
Sunday, May 18, 2008
LIMIT Short GJ / LIMIT Long Canceled
LIMIT SHORT GJ @ 203.75
SL 204.50
TP 201.75
The previous LIMIT Long has been canceled. We mistakenly made the call using indicators from another pair. 3 out of 4 of our short term strategies have pointed south since late Friday. We may see a small spike up to the 204 area but the short term trend (and the overall medium term trend) is down.
LIMIT Long GJ
LIMIT LONG GJ @ 203.00
Price may not fall to 203, if not we will look for buys in the 203.25 area. Daily momentums are extremely bullish and a push above 205 looks to be in the cards. Monday early Asia is always a tough time to trade as there is little volume in the market, that's the reason we are not long @ market.
SL 202.25
TP 205.00
Friday, May 16, 2008
Freaky Friday closes the week +210 pips
Not the best way to end the week, with a loss, but we still managed to close out with 210 pips.
For those of you wondering what percentage return is gained on a 210 pip trading week, here is a quick pip/percentage ratio calculation based on OUR money management guidelines;
3.5% Risk per trade (Meaning that a 100 pip lose equals 3.5% of your balance) equals 0.035% per pip, so;
210 pips X 0.035% = 7.35%
More pips to come, stay tuned.
Thursday, May 15, 2008
GJ Short Closed +70 Pips
GJ Short Closed at 203.20 +70 Pips
Reasoning; Our trading day ends around the NY open and if trades are in profit we normally will close them rather than leaving them open.
Wednesday, May 14, 2008
Quick Note on Forex Signals...
The signals we post here on our blog are not the only trades we take on our Managed Accounts and inside our ZuluTrade Account. During certain times of the day we may sometimes be in and out of smaller scalp like trades frequently and with the fast execution needed we cannot post these trades here or add them to our ZT back office. The majority of trades posted will be LIMIT orders on the GBPJPY with the occasional EURUSD or USDJPY trade.
LIMIT SELL GJ / SL Change on GJ LONG
LIMIT SELL GJ @ 203.90
SL 204.90
TP 202.90
----
New SL on GJ LONG at 203.90
It appears this may change direction and we don't want to be stuck in a loosing trade.
LIMIT LONG GJ
LIMIT LONG GBPJPY @ 204.25 / 204.50 (Price jumped up and may not make it to 204.25)
SL 203.25 (203.50)
TP 205.25 (205.50)
Does ZuluTrade Every Update their Site?
Our ZuluTrade Tracker hasn't updated in over 2 days. Emails to their customer service department have gone unanswered and their never seems to be anyone on the other side of the phone when we call. Hmm?
At any rate our account is currently +183 Pips, though it should be higher, the problem is I mistakenly opened multiple lots on a few trades because they never showed up inside our account.
If someone would like to volunteer and open a demo account with ZT it would help us see if these same issues happen on the user's end as well. If you want to be our guinea pig please contact me at; fxhoy@yahoo.com
Tuesday, May 13, 2008
Is a Forex Managed Account the right Investment choice for me?
The above question is a good one, mainly because Managed Forex Accounts are NOT right for every investor.
Off-exchange foreign currency trading on margin carries a high level of risk. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose.
This statement is not meant to scare you, however it is meant to open your eyes. If you do a search online you will find thousands of web sites telling you how "easy" it is to trade currencies, and how many millions of dollars the advertisers have made following some "easy" system they spent years perfecting, and how this system can be yours for only a few measly bucks.
Point blank; The forex market is one of the most UNPREDICTABLE markets to trade in the world. There is no "holy grail" system which will make you a master trader overnight. I personally have been trading forex full time for a little over 2 years.....after 5 unprofitable years of trying to trade full time. Five years of great, fantastic, AMAZING, months only to be followed by terrible, horrendous, UNBELIEVABLE loosing months. I paid 10's of 1,000's of dollars to 'gurus' and ran through over 75k in "blown" accounts along the way. I was caught up with all the hype on how easy forex trading was and how anyone could do it. I remember opening my first demo account and tripling my monopoly money in 36 hours; then opening my first LIVE account, doubling the money in 2 days, and then loosing it all one week later.
After so many years of trial and error I finally decided to create my own strategy and follow my own trade "signals" rather than someone else's. I am continually learning and continually trying to make myself a better trader. Each day in this market can teach you a years worth of knowledge if you are humble and smart enough to pay attention.
One thing I can say is above all else MONEY MANAGEMENT is the key. A not so great strategy with superb MM can still produce profit, however a winning strategy with poor MM and you WILL loose your shirt.
Since mid 2006 I have been averaging a 15.7% Monthly NET return for my clients by sticking to very strict trade guidelines and an even stricter money management plan. Now past returns are in no way indicative of possible future returns, and as with ALL investments losses are a fact of life, however if you think you have the risk tolerance and are looking for some portfolio diversification in something that is not effected by the failing economy a forex managed account with FX Hoy Capital Management may be right for you.
GBPJPY Short Triggered
Our GBPJPY LIMIT Short Signal has been triggered at 203.50
TP has been set to OPEN as we analyze our charts
SL 204.50
LIMIT Long has been canceled...
LIMIT Short GPBJPY / LIMIT Long GBPJPY
SHORT GJ @ 203.50
If Triggered
TP OPEN
SL 204.40
-----
LONG GJ @ 204.50
If Triggered
TP 205.50
SL 203.50
Zulutrader Newbies
I am a Zulutrader newbie so please give me a few more days to get used to placing trades on there back office. I have already mistakenly taken more than one position on a trade, not closed a trade even though I thought I did, and entered an incorrect SL and TP.
We currently have 1 demo subscriber so no "real" harm (pun intended) has been caused. Just an FYI...
Monday, May 12, 2008
The trader becomes a blogger...
I have never "blogged" before so please bare with me as I get my feet wet with this new (well new to me) technology.
My main goal with this blog is to help novice traders on their way to becoming veteran traders.
This blog will be mostly used to post LIVE trading signals and the occasional market analysis. I welcome any and all comments and any and all questions that other bloggers may have in relation to this blog or trading in the currency markets.
Please stay tuned for the launch of our (FX Hoy) web site where we will be offering Managed Account Services, FREE AutoTrading, and broker rebates for those non-novice FX'ers among the crowd.
