Thursday, 22 November 2007

Good morning Team Rainbow. I hope everyone is OK out there. My wife seems a little better and so, fingers crossed, I may be able to post a little more next week.

In answer to one or two questions. My system is the same but new rules mean the price at which you enter the trade will be entered via stops/limits which will be some distance from the market price. If that price is hit, then the trade is live and pans out as normal. The other change will be that I close trades well before the 90 pip stop is hit if certain indicators are reversing. This would usually be accompanied with a new level to enter a trade in the opposite direction. That way, we should improve our risk reward ratio considerably.

Signals will still be given at 8am, 12 and 4pm (but not this week). Should my wife's recovery slow then I will obviously pull back from the signals etc again.

Once again, thank you for all your kind words. Please understand that I cannot reply to them all personally at present but they are much appreciated.

Today's economics: America is closed and Trichet is speaking at 4:30pm.

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