Thread: Journal - London Forex Open

Fantastic. Thanks for your help.

Below are our trades for the month of June:

MAIN SYSTEM (We trade the Conservative strategy)

7-Jun-10 Short -120
8-Jun-10 Short +120
9-Jun-10 Long -120
11-Jun-10 Long -120
17-Jun-10 Short -120
22-Jun-10 Short -20
25-Jun-10 Short +60
30-Jun-10 Short +60
1-Jul-10 Short -120
2-Jul-10 Long -120

Profit/Loss = -500 pips

With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, May P&L = -12.5%

"ADVANCED" (FALSE BREAKOUT) SYSTEM

2-Jun-10 Short +125
10-Jun-10 Short 0
18-Jun-10 Short +55
23-Jun-10 Short -45
24-Jun-10 Long 0

Profit/Loss = +135 pips

A profit of 9% this month for the Advanced strategy based on a Fixed Stop loss of 45 pips and 3% risk per trade.

In total, a small loss of 3.5% for London Forex Open this month, our first ever loss with this system. After an excellent return of almost 25% last month this is a small set back to say the least.

As always, any others with experience of this system, your input is welcomed. You are also free to join in our Live trading room where we and other members openly discuss and trade London Forex Open every morning - here.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Below are our trades for the month of July:

MAIN SYSTEM (We trade the Conservative strategy)

7-Jul-10 Short -120
9-Jul-10 Long -120
15-Jul-10 Long +120
16-Jul-10 Long -120
21-Jul-10 Long -120
27-Jul-10 Short -20

Profit/Loss = -380 pips

With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, July P&L = -9% (ish)

"ADVANCED" (FALSE BREAKOUT) SYSTEM

13-Jul-10 Short -45
19-Jul-10 Short +125
22-Jul-10 Short -45
23-Jul-10 Short -64
29-Jul-10 Short 0

Profit/Loss = -29 pips

A loss of 2% (ish) based on a Fixed Stop loss of 45 pips and 3% risk per trade.

In total, after our first losing month last month (-3.5%) we have hit two in a row - A combined -11% for London Forex Open this month, our worst ever months performance with this system.

Regardless of these set-backs we are still up over 30% this year and are hopeful of a return to profitability, sooner rather than later.

As always, any others with experience of this system, your input is welcomed. You are also free to join in our Live trading room where we and other members openly discuss and trade London Forex Open every morning - here.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

My results mirror yours exactly except on 23rd July I experienced significant slippage on close - £69.10, not £45. Were you trading on Igindex? If so, I will query my trade.

Also - and its my own fault, I could not trade on one day of the month - you guessed right 15th July - +£120 Memo to self, make more effort next time.

Absolutely correct - You know what, we did not correctly check our records (statement - going rather off just being taken out) - We did suffer slippage that day out at 15386 so 19 points - Rather significant - We have accordingly updated our results.

We much appreciate you taking the time to point that out to us and we apologise for the original error in our reporting - We so much enjoy the honesty, quality and attention to detail of our members - Thanks again!

p.s. - We have also sent an email to LFO as they have not reflected this in their results and as far as we are aware they use IG Index for their trading too

-253 for July for me on this one. I missed a juicy +125 Adv plus one weeks trading due to holidays. Just as well I took the holiday I think. Will continue with this until the end of September just to see if its just the holiday season affecting the effectiveness of this system

Below are our trades for the month of August:

MAIN SYSTEM (We trade the Conservative strategy)

2-Aug-10 Long 120
6-Aug-10 Long -120
9-Aug-10 Short +120
13-Aug-10 Long -20
17-Aug-10 Short -120
19-Aug-10 Short -147
20-Aug-10 Short +120
24-Aug-10 Short -120
25-Aug-10 Short -120
26-Aug-10 Long -120
27-Aug-10 Short -120

Profit/Loss = -527 pips

With an average stop loss of 120 (3 lots x 40 pips) and 3% risk per trade, August P&L = -13%

"ADVANCED" (FALSE BREAKOUT) SYSTEM

3-Aug-10 Short 0
4-Aug-10 Long 0

Profit/Loss = 0 pips

Break-even for the month.

This is a terrible trading month for London Forex Open and quite a large losing streak, it means we are suffering an almost 30% drawdown on account since May, just 3 months.

We now stand at around 15% up on the year from over 45% in May. Here's to hoping for some return to profitability with the end of the Summer holiday season upon us.

As always, any others with experience of this system, your input is welcomed. You are also free to join in our Live trading room where we and other members openly discuss and trade London Forex Open every morning - here.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.