Review of our operations for the past week

As we do every weekend, the following is our review of our operations for the past week at www.dailymarketadvice.com as well as a look at our results for 2010 thus far.

First of all, as you are probably already aware, we haven’t employed our stock trading techniques since mid-November, when the US markets began a lull that stopped only this past week when the S&P went below 1125 points.  We could not execute our stock trading techniques during this period because there was little volume in the market and the majority of price movement was generated outside of market hours.  Both of these factors made it difficult for our techniques have an acceptable success rate.

We begin by reviewing the results for our Forex techniques for this past week as well as for 2010 to date.

With regards to the European Morning Technique Gbp/Usd, we executed 5 operations (3 with a profit and 2 with losses) for a total profit of +11 pips.

For the European Morning Eur/Jpy Technique, we executed only one operation with a loss of -40 pips.  As you know, according to the technique, when the range at the time of entry is greater than 100 pips, we won’t operate.  This is precisely the reason we only generated one trade. As it turns out, the fact that we only made one trade in a week for this technique was quite exceptional.  We

reviewed our historical data and found that what occurred this week had not  happened since last September and, in fact, we had not had a losing trade for this technique since the past December 23^rd.

In the case of the USA Morning Technique, this week we executed only 2 operations for a loss of -20 pips.

To summarize, this week we recorded a loss of -49 pips for the sum of our Forex operations and it is our worst one-week result for our techniques since the first week of November, 2009, where we recorded the following results.

But, as we always say, we are in this game for the long haul and, therefore, one must look at our numbers over a period of three months and not over one week to judge the effectiveness of our techniques.  

For the European Morning Technique, we have realized 21 operations this month:  14 positives and 7 negative for a total of +188 pips.

 For the USA Morning Technique, we have realized 9 operations this month: 6 positive and 3 negative for a total of +120 pips.

Thus, for these first three weeks of January, we have executed 30 operations; 20 positive and 10 negative for a total of +308 pips with a 66.66% success rate, which is slightly below our goal of 70%.

Taking a look at our MiniSP Futures techniques, we see that the results for this past week were spectacular.

As we have explained on many occasions, since the middle of December the S&P has been absolutely stagnant, with daily ranges that, in many cases, were smaller than 5-6 points.  In addition, when the index did rise it would do so outside of trading hours, when we cannot apply our techniques.

However, as we indicated last weekend, since last Friday we have begun to see strong sales in the S&P as well as appealing price variations and, as we expected, our techniques have begun to again give us attractive outcomes.

Here is a summary of our MiniSP operations for the current month of January.

As you can see, up until this past Friday, we had executed only 5 operations for a gain of 16.50 points ($825 for each contract).  But, since then, we have realized 10 operations, each of them positive for a total gain of 34.5 points ($1,725 earned for the week).

Therefore, for these first three weeks of January, our techniques have given us 20 positive and 0 negative operations, a perfect 100% record, and a total of 51 points gains which is the equivalent of $2,550 for each MiniSp contract.

For the next week, we expect MiniSP futures to continue their roll and that Forex trading will repeat their positive performance of the first two weeks of the year.

Have a great weekend.