Weekly Review 06/12/2010

Greetings everyone,

As we do every week, we are going to review our tWrades over the last week and we will start our weekly review with Forex trading.

FOREX

Trades this past week:

Results by technique:

European	US	Discretional
43	64	-40
50	-62
-40	-62
2	-47
40	60
36	55
-40
91	8	-40

This past week, the behavior of the pound improved a lot, the European morning technique again began to show profits and we have left our minimum level behind.  Over the last weeks, we have been commenting how we found ourselves with flat results, where our techniques have, for some time, been bouncing between maximums and minimums. If you remember, we sent out a chart two weeks ago and we commented that we should stop trading our technique, even though we were near our maximum Drawdown, because we had not broken any negative historical mark and we saw from the behavior of the pair that a rebound was to be expected and we would once again obtain profits.

And, that is precisely what happened.  This is the evolution of our trades since then. 

And this last week:

EU
GBP/USD	43	50	2	40	36	171

As you can see, we continue to be flat.  Now we have left minimums behind and, most likely we will go towards maximums and try to break them so that the pair again achieves a monthly average of between 400 and 1.000 Pips, as it had until the beginning of this year.

For the other pairs, there was no important news.  We made a discretional trade for the CAD/JPY because of its good risk/reward ratio - 40 Stop / 90 Target – and high success rate based on extreme differences.  The USA morning Eur/Jpy and the Cad also didn’t present any important change.  They each are accumulating slow gains within these lethargic conditions that we hope are about to change.

FX 2010 Summary

EUR		US
GBP/USD	EUR/JPY	GBP/USD	EUR/JPY	CAD/JPY	OTHERS	DISCRETIONAL
-54	185	-207	385	91	60	50

FUTURES & STOCKS

Now we will review futures and stocks.  This week, we gained 3.25 points in the Sp, the equivalent of $162.50 per contract, but we are not content with this as the Sp has been really difficult to operate and we must not force operations and only make trades which are obvious.

 Now let’s review our Last Wave technique. Two weeks ago, when we were still in the testing phase, here were our numbers:

Aone +4.74

Sgy +4

Ire +15.42%

Jns +4.21%

Usu +4%

Csr +1.23%

Ttmi +1.41%

Total gain of +35.01% for 7 trades.

Last week, we started trading for real and we had these results:

DAY	STOCK	TYPE	ENTRY PRICE	SALE PRICE	B/P	TYPE
06/01/2010	MMR	SHORT	9,73	10,02	-3,00%	21
06/01/2010	IVN	SHORT	13,52	13,93	-3,00%	21
06/02/2010	USU	LONG	5,63	5,79	2,84%	21

And this week, we only made three trades of which Tso remains open with a 1% gain.

06/08/2010	PIR	SHORT	7,09	6,81	4,00%	21
06/09/2010	DHI	SHORT	10,64	10,96	-3,00%	21

As you can see, these results are not similar to those we had two weeks before.  The problem we experienced for losing trades has always happened on the day after making the trade.

As usual, we hope you have a great weekend.