Hi Readers,

As I am still working, I will most likely not be able to trade this setup. However, if price breaks below the first breakout of the trend, 1st profit level is 82.00 and 2nd would be 81.50.

Stop loss would be determined by how much the price reverses after the breakout. Gd luck for all who are able to trade this setup...

Jon

Citibank on Insider Trading

Hi,

Do you know all C-level officers buying their company stocks have to file with SEC within 48hours? Fortunately, they do...

However, you will likely to see share price going up after some time. Even years...

Just last week, I spotted high volume insider trading on Citibank. Hmm... at this moment in time, if some directors are buying so many shares at $1.25, means that we might expect some good news soon. When I saw this, I immediately bought some at $1. I did not buy much knowing that Citibank is still in a bad shape.

Within days of buying, Citi's CEO announce that Citibank was back in profit and share price is now trading at $1.78. A good 78% gain, not bad for a couple of days work... :)

NZDCHF Breakout

Dear Readers,

Updating on my NZDCHF which ended up in a lost of $830. A lesson learned to today is to take some profit and move my stop loss lower which I did none this time round....

Jon

Breakout Trading

Dear Readers,

I started using Hector's method 2 months ago on demo and have already made >100% on my demo account from a 10K account trading 1 lot per trade.

I started my live account of $580 this month and already making 12% profit. Considering that volume is thin since last week, I think its a good start. Once I feel more comfortable I will increase my account to $2K. I hope to be able to make an average of 10% a month. If I am able to compound 10% a month on a $2K, I will be able to to trade for a living in 3 yrs time... Fingers crossed...

Well without further a do let me post my first trade online. I made a pending order which wasn't triggered, so no profit today...

On my demo a sell trade was triggered on NZDCHF, as you can see we like to follow the major trend . Ok folks, I will update again the status of the trade in a couple of days time...

Happy Trading!

Jon

Opening Post

Hi,

When I was much younger, we do not hear of retrenchment. There were pension schemes whereby people can work in a company for live and still get paid when they retire.

These days, everyone is worried about when they might lose their job. We are right now in the middle(I do sincerely hope so) of a recession as I am writing this.

I have attended options courses, bought forex courses. Lost ~$10K in them until I came across this Forex system.... As of right now, I am having better success with this system on demo and on live account. Also I would like to share with all my readers another wonderful system, "Rule#1 Investing" by Phil Town. For those who would like to invest in stock market, this is a book you wouldn't want to miss!!!

I will be uploading my forex trades on the blog as I trade. Comments or criticism are welcome and I hope we can all learn and excel together.

I take this opportunity to wish you all a Merry X'Mas and a rewarding 2009!!!

Jon...