Out with the OLD in with the NEW

We are officially saying goodbye to the GJ Trade Tracker on this, the last trading day of August, in order to focus directly on our OANDA managed account program. Once our web site is up and running we will roll out a new, better structured, more interactive FREE signal service. We plan on having this operational by December of this year.

If you were receiving our signals via Skype please don't delete us from your contact list as on occassion when we spot a good swing signal for the pound yen we will pass it on even though the "service" has been discontinued.

GJ Trade Tracker August Results

August 2008

08/04 : GJ SHORT @ 212.60 : CAN
08/05 : GJ LONG @ 210.85 : +90
08/05 : GJ LONG @ 211.00 : +75
08/05 : GJ SHORT @ 211.50 : +150
08/06 : GJ SHORT @ 213.50 : +350
08/11 : GJ LONG @ 209.85 : -50
08/12 : GJ LONG @ 209.50 : -350
08/12 : GJ LONG @ 207.00 : -100
08/12 : GJ SHORT @ 206.00 : +50
08/13 : GJ LONG @ 205.50 : +100
08/13 : GJ SHORT @ 204.00 : +200
08/18 : GJ SHORT @ 207.00 : CAN


Current PIP Count* ; +510

Possible Return* ; 17.85%

YTD PIP Count**; 1705 Pips

YTD Possible Return**; 59.675%

(YTD = From May - Aug 2008**)
*Updated Daily
**Tallied at month's end and based on 3.5% risk

Almost.....

Our web site SHOULD be ready to launch next week, well in all honesty it SHOULD have been launched months ago but finding a web designer who could understand our "design ideas" and actually turn them into what we thought was something worthwhile turned out to be very difficult.

The site will give detailed instructions on how to open a managed account with us through OANDA, which seems daunting at first but actually isn't all that bad in the end, as well as more information on our company, our strategies, and over time will become as interactive as possible with videos, chart screen shots, etc.

Coming soon.....

Out of GJ SHORT for 200 pips

Well, that's enough waiting for me...

We have closed out our GJ SHORT @ 202 for 200 pips.

The fall may still happen and if it does we will ride it's coattails.

Stay tuned....

Off to the races....

Our OANDA invitation links are now posted on the upper right hand corner of this blog under the FHCM Services heading.

Note that there are 2 links; 1 for accounts under $5,000 USD and 1 for accounts over $5,000 USD

If you haven't yet opened your FXTrade account you will be directed to do so after clicking on the link, if you have and your account is funded it will lead you through the steps to allocate funds to our Managed Fund, the Fx Hoy AM Fund.

Once your account is setup please get in contact with me so we can sign the LPOA (limited power of attorney) and Fx Hoy's external fee agreement and contract.

Waiting for the fall...

The new weekly momentum is showing a fall, a pretty deep fall, a fall that should bring us some good pips. We currently have our SHORT from 204 still open and I have added a LO SHORT from 207.00 to the party.

SL and TP OPEN at this point...

LONG Closed for 100 pips

We have closed our HEDGE LONG @ 206.50 just shy of the 1hr 100SMA.

I have not added an additional SHORT yet, but will if I see a reversal.

Bearish Continuation expected today

I expect to see new lows today with a bearish extension possibly down into the low 200's. I am still holding the HEDGE long from 205.50 and I will add another LONG position once I see a strong rejection. Keep in mind this pair could fall 1000 pips before that happens, either way we will collect pips on the way down and on the way back up.

Stay tuned...

HEDGE SHORT

I opened a hedge short approx. 1hr ago @ 204.00, however I was having trouble logging into blogger. Skype users where notified of the trade.

Some changes ahead

Toward the end of this month we will be making a few changes that will allow us to focus on our core business, our managed accounts.

The FREE Signal Service will continue via Skype, however the trades will not be posted on the blog. Honestly, the time it takes for me to post these trades on occasion can cause bad entries or exits on our live trades. If you wish to continue to receive our signals just add us on Skype and send us a short email.

We will also no longer be submitting trades via FXtraderlink on a regular basis. The reasoning is basically the same as above, but more than that the only reason we started to submit trades via this web site was to give smaller investors the chance to trade our signals. With the move to Oanda we can now trade smaller accounts which pretty much does away with the only other reason to send trades through their platform. This decision is made easier by the fact that our account at FXtraderlink was quite new and we only had demo subscribers.

Our new web site should also be ready in the coming 2 weeks. The site will be much more interactive and contain much more information on our managed account services and promotions we will be running for our clients.

If you are interested in opening a managed account at Oanda we are accepting accounts as low as $250 U.S.D. for the first 60 days or so. Our invitation link should be ready in the next day or so and once it is it will be posted here on our blog.

....and sometimes...well who knows....

LONG LO @ 205.50

This is a SWING trade targeting the GJ's favorite retracement level the 1hr 100sma.

SL OPEN as of right now...

....and sometimes trend is NOT your friend...

Though most trades are still looking for the floor to fall out from underneath GJ I see some strong indications that a reversal is in the making. The bears are still out in force so it may be limited, but in this market "limited" could be 300 to 400 pips.

Stay tuned....

Trend is your friend.....

LONGS have been closed....for a loss....

SHORT @ 206.00 for a possible 193 test later this month

Building LONGS

I am going to add a second LONG position @ 207.00

I was going to reverse my position this morning and go SHORT but I decided to hold it as a swing trade back up to the 212/214 region gaining some swap along the way.

I don't have a hard SL on this trade but if I see a strong bearish continuation or we push through the 206 level I may decide to close this trade.

...I got my rabbit's foot this time...

Re-loading LONG @ 209.50

SL is OPEN at this point and my TP is about 200 pips up. The same basic techies that made me take the last long are still valid, however after a push to break the lows and a reversal bar on the hourly charts I am looking for that weekly bullish momentum to push us up through triple interest Wednesday if not sooner. Overall bias is still bearish however, so watch out....

You gotta ask yourself, 'Do you feel lucky punk?'

Taking a risky long off the weekly GANN bounce @ 209.85

SL 209.35

TP OPEN

Up or Down?

Sideways...

As of right now I am flat of GJ. I am going to be watching price action for a bit to see if the daily bearish momentum or the weekly bullish momentum will win out.

On another note we should have our Oanda FXManager Invitation link by tomorrow.

Out of SHORTS, looking to go LONG

SHORTS closed @210.00

Looking to go LONG, stay tuned...

Meet the new kid on the block...

We are in the process of moving some of our older managed account clients over to Oanda. As mentioned in a previous post we have been beta testing their FXManager Platform for a little over two months and we are now a few days from going LIVE.

Opening an Account at Oanda and allocating funds can be a bit complicated at first so here is a quick how to guide to help you get started. (Taken from http://fxtrade.oanda.com)

How do I get started?

All of the following steps must be completed before you can allocate funds to your investment manager.

1. Accept your manager's invitation to join FXManager.

Your investment manager will send an email inviting you to join FXManager:

1. Click on the URL provided in your manager's email, or copy and paste the URL into your Web browser.
2. Follow the instructions to register and log in to FXManager.
3. You should be able to see your managed account listed in the FXManager interface.

Find out more about:

• The responsibilities for managers, clients, and OANDA

• System requirements and the requirements for managers and clients

2. Activate your FXTrade account.

As part of the FXManager registration process, you are asked to create an FXTrade account (if you don't have one already).

1. You will be sent an email to activate your FXTrade account. Click on the URL provided in the email, or copy and paste the URL into your Web browser.
2. Follow the instructions to set up and activate your account.
3. Follow the signup instructions to send your identification to OANDA. This step is required to activate your account.

3. Place funds in your FXTrade account.

OANDA must receive funds before you can allocate them to your manager. Funding options include wire, check, money order, or PayPal.

For details, go to deposit funds.

4. Provide a completed POA.

OANDA must receive a completed Power of Attorney (POA) from you or your investment manager. Link to POA form.

You will not be able to allocate your funds until this document is processed by OANDA. You and your investment manager will receive an email letting you know when this process is complete.

Note: OANDA is not responsible for any other legal forms required by the country in which you reside. See Relationship of Parties.

How do I allocate my funds?

After OANDA receives the POA and your funds are placed in your FXTrade account (see above), you can allocate your funds to your investment manager.

1. Using the Cash Management System, transfer funds from your principal FXTrade account to the "MA Unalloc bal" sub-account.
   
   
2. Log in to FXManager.
   
   
3. Next, you need to allocate the funds. In FXManager, select Account > Allocate Funds.
   
   
4. Specify the source account. (If you have more than one Unallocated account, make sure you select the right one.)
   
   
5. Type in the fund amount you want to allocate to your investment manager. (You can use an amount up to the funds available in the unallocated balance account.)
   
   
6. Click Submit.
   
   Your allocation request appears in the Allocations table. Your manager must accept this request before the account balance will change in your Accounts Summary.
   
   Tip: If you don’t see fund allocations or other changes you’ve made, try disconnecting and reconnecting. Click on the Connected icon in the lower left corner, then click on it again.

How do I see what's happening to my funds?

The tables in the lower panel of the FXManager window let you track what's happening to your allocated funds, including:

Allocations — money you've allocated to the fund

Open Positions — currently open positions

Transactions — a list of all transactions that have occurred in your account (buys, sells, fees, and so on)

Fees — a list of all the fees that have been charged

Activity — a list of actions made by you and your investment manager to your account (fees, fund allocations, and so on)

For more information, see the user manual.

How do I get my funds back?

Note: Your Investment Manager must approve your de-allocation request before the funds are returned.

1. Select Account > Allocate Funds.
   
   (If you have more than one source account, make sure you select the right one.)
   
   
2. Click the Deallocate button.
   
   
3. Specify the target account. (If you have more than one FXManager account, make sure you select the right one.)
   
   
4. Type in the fund amount you want back (up to the funds available).
   
   
5. Click Submit.
   
   
6. After your investment manager approves your request and your funds are back in your FXTrade account, request a withdrawal from OANDA.

Our SHORTS are now Swim trunks....

Our SHORT is currently underwater but I am adding an additional position at 213.50. Money management is KEY when trading on larger TFs. I may decide to place a HEDGE LONG is I get a good long signal, shorting again from the top.

SL and TP OPEN

Managed Accounts moving to Oanda

Our short lived idea to open a pool for smaller investors has been thrown out. We thought we had a good grasp of the legalities after chatting with a few corporate attorneys with experience in this type of operation but it seems we were in over our heads. Our posting of this offering on this blog violated one or more of the exemption clauses stated by the NFA. Rather than attempt to rectify this we are going to discontinue the idea.

Every cloud has a silver lining however; We have decided to send all new managed account clients to Oanda. We originally posted during our early testing of the FXTrade platform that we where unaware that they did not allow hedging, which caused some concern as we occasionally use this tactic in a ranging market. This issue has been resolved as we have simply adjusted ourtrading strategies accordingly to not involve hedging. Our returns on the FXTrade demo have been inline with those on our other managed accounts so we are ready to go live.

The good thing about Oanda is accounts can be opened with as little as $1.00. (Though our minimum will be approx $1,000 USD) This will allow us to serve smaller investors as was our goal with the pool, and not fall into any pitfalls due to regulations and different countries laws regarding pooled investments.

We are in the process of getting the live accounts setup and we will make an announcement once we can being accepting live accounts.

Get those bermudas back out of the closet...

Based on the new 1HR candle, the extreme OB levels, the bearish momentum, and the curling down of the 1HR Stochs I have placed a SHORT on the GJ @ Market 211.50.

My initial target is yesterdays lows. If we break that level then the lower 210's come into play. My SL is open at the moment, no hard SL on these type of trades.

Stay tuned...

Banking profits on GJ LONGS

I have closed both GJ LONGS @ Market 211.75 for 90 and 75 pips respectively.

I though this retrace/bounce would be a bit more powerful however I am seeing some signs of a bearish reversal.

More trades to come...

New Target on GJ LONGS

I am going to set the TP on both LONGS to 212.80 which coincides with the Daily R1 and with the 1hr 100sma current sitting just above 213 it should be more or less in that price range once we make are way up there.

As always these levels can change so keep an eye open for updates.

Adding 2nd LONG

I am adding an additional LONG position at the 1hr 5sma Low @ Market 211.00 (The actual 5sma low is at 210.97)

The price may go as low as 210.70 however I will not be adding any more positions.

TP and SL are tentatively OPEN. This position may be held a few days for some positive SWAP. (For once!!)

LONG GJ @ Market

LONG GJ @ market 210.85 after a bounce off the Monthly 5 SMA Low.

Our SL will be approx. 209.90 and our TP will be placed around 213.50, these levels may change over the next 24 to 48 hours depending on price action.

More pips to come...

LO Canceled

Our LIMIT ORDER from 212.60has been canceled.

A new trade will be posted shortly.

LO Entry Change

I am going to adjust our limit order entry to 212.80 as the daily S2 does not what to give way.

-----

Based on the new daily pivots I will enter short on a failure at 212.60

Monday in Aisa means it's time to trade...

I have set a LO on GJ to go SHORT @ 212.90 with a target of the 209/210 area. The SL on the trade is tentatively set around 213.50, though I would want to see a 30min candle close above this level to close the trade.

GJ Trade Tracker July Results

July 2008

07/02 : GJ SHORT @ 210.77 : CAN
07/08 : GJ SHORT @ 210.50 : -100
07/08 : GJ SHORT @ 211.75 : +75
07/15 : GJ SHORT @ 209.90 : +125
07/16 : GJ SHORT @ 210.20 : +/- 0
07/17 : GJ LONG @ 210.20 : +80
07/21 : GJ LONG @ 213.00 : +65
07/21 : GJ SHORT @ 213.95 : -50
07/21 : GJ SHORT @ 213.20 : -80
07/22 : GJ LONG @ 214.00 : -35
07/22 : GJ LONG @ 214.00 : +90
07/22 : GJ SHORT @ 214.90 : +10
07/22 : GJ LONG @ 214.80 : +70
07/22 : GJ SHORT @ 215.50 : +150
07/23 : GJ SHORT @ 213.80 : +150
07/25 : GJ SHORT @ 214.50 : +100


Current PIP Count* ;+650

" Return* (3.5% risk) ; 22.75%

YTD Return (3.5% risk) ; 41.825%

(YTD = From May 2008**)
*Updated Daily
**Tallied at month's end