Nardino's journal

What's cooking, diallist? hope it's been well with your trades. Just got back from a little trip away from base but I can assure you that the tutorial is still on. So far the number of response is short of the cut-off mark 20. Nice to know that you're still keenly interested. Remember, it is He that gives power to get wealth.

Prosperous trades all year round. I'll be posting my trades for today on the site later in the day.. Please keep commenting and sharing your thoughs as well. I have a lot to learn from you too because we're students of life.

Hope you were still around to take the ride, Ian. My set limit @262% of the Fib channel checked in some pips for me. I took my position @7613 and moved my stop to 7625 when the breakout began. I set my limit @1.7655 for auto-pilot. Guess what it ttok me out and I'm done for today. Here's the final words from the market. Hope your one went well too.

Hi Benny
No I didn't get in on that one though your entry and exit were spot on, good stuff..

I tend to be a 'one trade a day' man at the moment and sometimes not even that. That's generally because the lowest time frame I tend to trade is 60min. I have been testing 15 & 30 min charts over the last month or so with ok results but is one of the reasons for watching your thread with interest. You seem to be using lower time frames with great success.

Anyway reckon it could be a volatile day today for cable. BOE interest rate decision followed shortly by US trade balance. Whichever way it goes I'll be looking follow the action..
Ian

Have you played EUR/USD and GBP/USD in the last four weeks?

I am not sure how many did actually cash in on this opportunity when I first blogged this longterm trend setups three weeks ago, (morning of April 27th to be precise on my blog). But those who have played have reaped significant rewards. There have been series of gratitude e-mails. How did you do with the EUR/USD and Cable? I usually do not trade on the longer term trend but could not resist this one. So I played it with low stake, $10. So far, it has raked in this amount of pips, (almost 900 if position were to closed today @1.2928).

04-16-06 ~ 05-01-06 **** Long Ext 1.2654 - 1.2182 - 472 pips
05-04-06 ~ 05-08-06 **** Long Ext 1.2748 - 1.2612 - 136
05-08-06 ~ 05-10-06 **** Long Ext 1.2790 - 1.2700 - 90
05-11-06 ~ 05-15-06 **** Long Open pos? - 1.2740 - ??

Interesting bit was that these were low risks trades.

I have not had time to put up posts due to work loads.

Benny..

The cable was very choppy this morning. As I had anticipated this morning, it finally dribbled to the 38.2% but I couldn't bear the long. As highlighted in my blogging this morning, it was one of those days where anyone could lose money even the most experienced of traders because of the tiny range.

I managed to gain +12 pips but it could have gone awfully wrong. I took my pos. @ 1.8842 and it touched on the 8805 but didn't take it. Only to see the market take back 25pips. I eventually got off at 1.8830 for lack of wind to run the sail. The last hour has now experienced my initially target level of 1.8785 (Fibo-38.2%).

My consolation for today was the initial +32pips from GBP/JPY otherwise the day could have been awash.

The EURO-zone reports were good but failed to spark the market, let's hope the Bernanke testimony, most importantly his Q&A before congress would do it.

Happy Trading.

Benny..

The BoE Govnr. admits to knowing about the Northern Rock crises since August but prevented from taking action by Governments' legislation. This news came to light from his testimony to the House of Commons Committee this afternoon.

The question is; Is Northern Rock really out of the woods yet? Does the guarantee given by thr Prime Minister really hold any ground? What could prevent this situation from occuring in the future to other banks? Do we still have the faith in the banks' credibility?

Who do you think should bear the brunts of it all? It is very unlikely in my opinion that the bank, NR would survive this. Do share your thoughts too.