21st February

Hi John

Thank you for your support this week and your Skype calls. It’s so good to have someone who knows his stuff to talk to and get encouragement and when I mess up get told off :-)

This has been quite a week. Very exciting. As you know I went back on to demo to test a new system a few weeks back that I feel works for me. This Monday I went back live. I made consistent wins when I followed the system.I had no losses and my daily target was 10+ pips a day. Never did the tradeg o more than 6 against me.

Usually I was instantly in profit especially when trading the euro with its 2 pip spread. Cable took 4 pips to get into profit due to its spread. I joined up with a trading group on Skype. I met them on the Forexfactory forum and was invited to join their group. They have traders from Californiato Hong Kong and I felt privileged to be invited. They trade together but each one enters on his own and does his own thing.

The leader of the group has been a serious full time trader for quite a few years making a small fortune. He obviously has a large bank and trades big money with very wide stops. He looked at my system and made some comments which were very positive. As I’m new he’s taken an interest in my progress as well.

Yesterday they asked me to join them in going long on the Euro. We worked out a good entry and stop and profit taking and away we went. All went well I thought. My signals had told me to enter at 2591 but they said to enter at 2635 after it broke resistance. We worked on the 1h chart but the lower time frames didn’t agree. I thought what the heck I’ll go with them as they know what they are doing. It went to 2635 and they entered automatically as they had set an order. The stop was 2595. A bit too big for my liking but Iwent with it on the larger time frame to give the currency space to breathe.The euro was going to rocket right?

Personally I felt that to enter you need a new candle to break 2935 for proper confirmation. I didn’t like wheret he previous candle ended and to me that wasn’t confirmation especially on my system. The trade went against me and took me out at my stop.

All myprofits of the week went with it. They kept saying stay in this will turn and they widened their stops by a further 30 pips. I had committed to 50 togive it room to breathe and refused widen it. 7 hours later the trade went the way it should and I was right that I needed a clear cut entry over 2635 or better 2650 and set an order with a tiny stop as by then the trade was on its way. I learned a lot by this. Stick to what you know. The markets are random as you keep saying and nobody really knows exactly what will happen.

You havetaught me well and everything I have learned since the courses has been tof ine tune the way I now trade. The euro messed about over quite a range. A beautiful range on a much smaller time frame to go short and long and make good pips. Probably more pips than the final run up and not wasting 7 hours to get there. If your system works despite what the ‘experts’ say follow your system. I had quite a few chuckles reading the forums as some would go long at the same point where others went short. What does that tell you?

So I ended the week down due to the last trade yesterday but am still veryhappy because I proved to myself I am confident in the trades I am now enter using my system. I can place smaller stops even on larger time frames if the entry is correct and feel confident that it will work and if not I’ve not lost much.

Your results of 75% wins since the beginning of this year is the target I want to reach. You do what you teach. That’s awesome. I’ve told many aboutyour courses I am going to increase my £ per pip next week and work my way up. You are right trading smaller time frames on smaller amounts won’t feed my family BUT I had to become confident of my system before increasing my stake and now I feel I can do it.

My system works well on small and large time frames. A great week and I’m taking the weekend off and doing little. May be someback testing on larger time frames to work out stop sizes. Can’t wait for our trip to France on Thursday and to spend time with you and learn even more. I had a terrible blow to my confidence since middle of December with one loss after another and couldn’t work out what time frame works for me. To be honest I still don’t know. I would rather a longer time frame but I find now that the time frame isn’t really the issue. It’s to find a system that works for me and to understand why I enter and exit trades and to stick with my plan. Previously every trade felt a bit like Russian roulette now I don’t feel that way anymore. I also need the gym now for cardio workouts as the trading isn’t giving them to me anymore :-) Have a super weekend and chat tomorrow Desiree