Good morning Team Rainbow. Apologies about yesterday but first things first; Mrs Rainbow. It is very much back to the case of 2 steps forward and 1 back I am afraid. I feel that I have to restrict my trading to mornings only which, clearly would hamper the current system which is based on 4 hour charts.
I do personally operate another "mornings only" system (I think I mentioned that in an earlier posting) but that cannot be signalled as it is fast and furious for an hour or so. Incidentally, I have noted that the S3 Forex system works on a 15 minute chart basis as well as the 4 hour that it was currently constructed on. Targets and stop losses are much smaller obviously but both work well. On shorter time frames you can trade and retreat after an hour or so, hopefully with your pip target for the day. This enables me to get on and care for Mrs Rainbow for the most of the day.
To give you an idea, I attempt to gain around 40 pips a day overall out of 5 currency pairs and then back to Mrs R. It is like my daily Sudoku respite at present. Yesterday I achieved 20 pips in each of 5 pairs, which totalled 100 pips, a good day. I risk about 1.5% of capital per trade and target 20 pips each time. On £20,000 that is about £300 risk and £200 target at £10 a pip. I feel that on average you would achieve 20 - 40 pips a day. Please bear in mind that I have HAD to operate this way in light of my wife's accident and it currently allows me to trade and look after her.
My thinking at present is to bring both systems together in a seminar and teach the both. This would mean I can keep the business ethic going on one day a month!! I also currently trade for a few "subscribers" on a personal basis and I would be more than happy to continue to do so on the above basis.
Please let me know your thoughts as always.
Today's economics: realistically only the interest rate statements from Bank of England and ECB at midday and 12:45pm respectively. Trichet is speaking at 1:30pm so that might be firework time.
Incidentally no signals at 8am!!
skip to main |
skip to sidebar
GROUP EMAIL AND SMS
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.
Newcomers essential reading
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.
No comments:
Post a Comment