Day 15

Thursday, August 2 Account Balance: $1,148.56

Today's Trades:

5500 USD/JPY long@ 119.159
5500 AUD/JPY short@ 102.185
5500 USD/CHF short@ 1.20376

Results Today:

Closed Trades:

AUD/JPY short: stopped out for 23.4 pip loss
EUR/USD long: Take Profit of 50.1 pips

Open Trades:

EUR/GBP long: -4.2 pips
USD/JPY long: +10.1 pips
USD/CHF short: +6.9 pips

Total for day:
pip profit: 26.7
$ profit: $11.70
% profit: 1.02%

Projections on open trades: (Note has no bearing on the system whatsoever, I just want to hone my technical skills in case the Propooko system fails, though it appears to be solid)

Looking at the 1 hour charts, here are things as I see them going into the night:

EUR/GBP long: RSI 54.28 and headed up, indicates a moderate upward trend
Stochastic: 77.86 headed up, indicates good volume of buyers vs sellers but warns that this pair is becoming overbought, trend may soon reverse.
CCI: 87.51 and still inching up, indicating a strengthening upward trend,
Pair has recently broken through 34 day ema, which verifies a moderate upward trend that may continue for another day, and perhaps bring this pair up to 20 pip profit where I will change SL to +5 and thus gurantee a win.

USD/CHF short:RSI is 42.84 and not moving up or down, stochastic 10.87 and looking as if it will swing upwards, indicating this pair overbought and will soon rise, CCI -90.46 and starting to climb, indicating this pair will soon reverse and thus bad news for the shorted position.

I can only hope that it dosn't rise 30 pips or more and stop out, but rather move against me a bit, and then start a prolonged trend in my favor, like EUR/GBP did last night. Unfortunately I can't touch this pair unless they get to 20 pip profit or higher, at which manual trailing stop loss rules go into effect.

USD/JPY long:

RSI 57.08, not moving up or down, stochastic at 65.77 and headed down, CCI 70.99 and headed up slightly.

Overall trend is long, so this trade is looking good in terms of its chances at taking profit.

So overall of the trades I still have open it looks like there is a good chance that 1 will TP, 1 may reach 20 pip profit and become a guranteed if not smaller profit, and 1 may stop out.

So based on how the 1 hour charts look I project an additional 30 pip profit on top of the additional 26 that executed today.

This should put the Propooko system at about $1,173.00 by the end of week 3, a new record and thus a great place to end the week.

Of course tomorrow morning around 9-10 Eastern, I will have to make 3 new trades, which may all stop loss, which would be a set back, especially if my projections turn out dead wrong.

Or I could experience a hat trick and see 3 TP on top of TP from all my current positions which would put the system at $1,280.00, 28% profit in 3 weeks.

Well, here's hopeing for a good, profitable and record breaking end to week 3.

And please don't forget to take part in the poll, its the only way I can get some idea how many people are reading this blog.

Good Night and Good Luck to all Forex Traders.