Good morning Team Rainbow. Everyone OK this morning? The euro indeed found its Nikes and just did it. Our EURUSD has made 1st target for 30 pips so make sure your stop loss on the 2nd half is at entry (1.4623).
The yen carry trade has POWERED up without stopping overnight. An amazing rally. Since yesterday, for example, the EURJPY has risen 270 pips without a 30 pip pullback. That is rare in anyone's book. The good days are here again!! Or so they think. The S&P500 US index rose over 40 points yesterday, again rare. It certainly looks a strong enough turnaround to be genuine and to have found it's feet.
Interestingly, 2 out of our 3 trades yesterday, fell at least 50 pips before turning around to give us profit. Volatile times.
Today's economics: Bank of England inflation report at 10:30am, US PPI (inflation) and retail sales at 1:30pm, Uncle Ben Bernanke is talking at 2:10pm and Kiwi retail sales at 9:45pm.
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If you wish to join me at Team Rainbow and join my online conference room just visit www.rainbowtraders.co.uk and follow the instructions. Any problems just email me at SJGrinter@aol.com and I'll sort it.
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RESULTS - FEBRUARY 2008
839 PIPS PROFIT (£6,073)
RESULTS - JANUARY 2008
870 PIPS PROFIT (£7,300)
Total return of based on a £20,000 capital account and risk of 1.5% per trade.
Total return of based on a £20,000 capital account and risk of 1.5% per trade.
About Me
- S3
- My name is Simon Grinter. I have been searching for the holy grail - a consistent second income from trading the forex markets. After many years of development, I now solely operate two morning systems, which achieve in excess of a 10% return per month. I teach my methods at seminars held periodically in London. They are fully guaranteed.
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