THE FOREX DASHBOARD
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How I made 33 % in 1 day using the Forex Dashboard
“ The Forex Dashboard is an amazing tool .I have been trading Forex for over 4 years and for the first time I can make sense of the market and how they move in relation to each other. The Forex Dashboard allows me to cherry pick the most profitable trades with the highest probability of success. I made 33 % on my trading account in 1 day !!! (see attached trading statement) My trading accuracy is now over 75 %. I highly recommend this application to any trader who is looking to increase profitability and consistency”
Hein Van Wyk
The Forex Dashboard has become an essential tool of my trading and since I'm following 10 currency pairs, the Dashboard gives me a glance of all the currencies, strengths and weakness' without having to flip thru charts. The Dashboard keeps me longer in profitable trades and I take profits when the market conditions changes. The Dashboard banks in pips for me over and over again, it well enough pays for itself!
Muhammad Ali, Malaysia.
"The Forex Dashboard is an awesome tool to have in your trading tool box. I use the dashboard to grab consistent pips each week. Stephen nefdt is a very honest and likeable guy who offers a great deal for a great price. "
"The dashboard is by far the best indicator in the Forex market, 2 weeks and 400pips later I'm smiling to the bank, five stars to the folks at Forex Wealth."
New York, NY
Your system is great! The Forex Dashboard helped me gain over 1500 pips the week of 30 March 2009. I more than doubled one account and gained about 12% on another. Thanks for the live trading room; it's helping me refine my entries.
It is amazing how this tool has changed my way of trading. It helps me see the big picture and get in the direction of the trend and avoid a lot of mistakes. Thanks for creating this great tool every trader should have it
Trading Archive - Performance
Not a great day trading. GBPUSD looked set to break higher at london open but then reversed. I sold at the bottom of channel and it reversed again so a real whipsaw.Later on during the day i got direction right and sold usdchf which recovered some of my losses. Total net loss - 57 pips
The Euro took center stage today with the ECB cutting interest rates by 50 Bp. I played the volatility and made some nice profits Total profit + 101 pips
Nice trading day played the correlation between equity markets weakness and the yen crosses. Total profit + 129 pips. (please note on some of the trades taken i use different position sizes so pip count may differ if you just look at the buy and sell price)
hi there another really good trading day. the morning session was showing a very strong pound and weak euro. eu looked like a good bet to go short and it looked like gu was going to sell off as well but pound remained stubborn. I managed to etch out over 100 pips including a nice short on gy for 64 pips. the NY session was extremely frustrating as gu had a major run up over 300 pips and was due a retrace. dollar weakness occurred on the back of a very bad ADP number 200 k worse than expected. Crude oil inventories showed a far higher than expected inventory so oil weakened as well as gold dropped $ 30 so i was really expecting a big move in dollar strength. The move was very dissapointing I kept on shorting eu and gu with not much success. The pound just got stronger and stronger. The end result was a +167 pip gain for the day. (please see the attached log of all trades taken for the session. ignore the gold trade took that trade by mistake but was a minimal loss anyway)
Hi all another profitable day! eur remained extremely weak during the london session but i persisted going long as crude was recovering very nicely and i actually expected quite a big movement from eurusd. The pound remained very strong and i landed up making some pips on GU as well. I traded the NY session but the moves on the news for US ISM non manufacturing were disappointing ,landed up with a small loss. Overall made + 91 pips for the day (please see attached trades)
well welcome all to 2009 I trust you all had a good New Year. we opened with an absolute cracker . It was a slow start the pound was very strong and if you had just trade GBPUSD without looking at the other pairs you would have got burnt quite badly with a long position. The key was the sell off in gold ( $15 initially and then a further $14 later on ) and the strengthening dollar. It was very clear on the dashboard what was happening. i was focusing on the pound and with hindsight should have rather gone for eurusd and usdchf initially. As the usd was strengthening i knew that the pound would reverse against the dollar so i shorted gbpusd and as soon as it retraced i continued shorting it along with the eurusd. Later on after i thought the move had exhausted itself i reversed the trades and went long it worked like a charm. The result a massive + 217 pips profit (please see attached trades)
well today was an incredibly frustrating day but very profitable. I started by going short on GY but the overall picture looked like it was reaching big support levels so i closed for a small loss. I then decided to go long on a reversal of GY that too faked me out for another loss. I was so focused on the pound that i didnt see the EURUSD plummeting through resistance on the back of a spike down on gold. By he time i got in on EY and EU the move looked like it had exhausted itself. I persevered and carried on selling EU as it retraced higher.GOLD continued to get weaker so i was hoping for a reversal. Eventually it turned and i landed making a very nice profit + 254 pips in total (please see my live trades attached with times and prices. I have blocked out the position size as i dont want traders to follow my position sizing etc Money Management is according to what you have in your own account and how you manage your own risk) Please see attached screen shots of GOLD and EURUSD and how they correlated as well as the trades i took. To enlarge just click on the picture
The key was the sudden spike up in Gold thats what triggered the sell off on USD. It was a clear signal and the people in the chat room made some nice profits on the back of this.
Today was a very mixed session no clear trades, but the pound looked weak so i waited for a break of support and went short on GBPUSD AND GBPJPY. Unfortunately this trade wasnt going my way i landed up takeing a loss of -38 pips on GBPUSD and GBPJPY -12. EURYEN then looked like reversing so i went short and made +28 pips. The UK claimant count came in really bad and the pound weakened substantially i went short on GBPUSD on a break of support, the price retraced and i went short again took profits at +27 and +51 pips .My total nett profit for the day + 56 pips.
I have attached a chart of how the pound weakened even further on the back of the bad news out of UK. A trade on GBPCHF would have yielded a possible 526 pips. (see attached screenshots - click on to enlarge)
Today i started off by going long with 1/3 of a position on GBPJPY. i didnt have a clear picture so i was more cautious the market seemed quite strong and the pound looked like a good option so i went long before the london open. The pound then reversed quite sharply so i took a loss. markets remained strong so i waited for a bottom and then went long again on GBPJPY for another 2/3 of my position. Anyway i landed up with + 5 pip gain. Other members in the room made over 30 pips. Later on in the day there was a really nice move in gold please see attached screenshots (click on image to enlarge). Gold is correlated to the Swiis Franc ie safe haven status so what you see is USD weaken and CHF strengthen the EUR is also very closely correlated to CHF. Anyway a nice trade setup for around 70 pips on USDCHF. I took some tardes later on GBPUSD and GBPJPY with nice profit but im only going to include the scalp trades for performance purposes going forward. The reason being i want to show you that you can make money trading forex on 1 hour a day.
Hi all well today i started the live trading room it started off really well. as i mentioned this is primarily a scalping room for now. The forex dashboard can be used for day trading with larger take profit targets but for purposes of demonstration im concentrating on scalping. The great thing with these trades we are normally done in under an hour. The first two trades had really nice profit please see the setup on forex dashboard i went long on GBPUSD (+ 40 pips)and GBPJPY (+58 pips) we were finished in 10 minutes of trading.
My firts trade this morning was a short GBPJPY based on price action on the open. The GBPUSD sold off heavily after that. I decided to go long on GBPJPY as i saw the markets strengthening and i was expecting a reversal. It wasnt the best trade as the market continued to sell off. The dashboard was inidicating a sell on GBPJPY and GBPUSD but there was conflict on the stock markets. Anyway i should have stayed out. I held the trade into the BOE interest rate decision. It came out at 1 % so under expectations. GBP strengthened on the back of this so i made a nice profit. Anyway in hindsight wasnt the best decision to go long i was lucky it worked for me. Nevertheless i made a profit of +210 pips.
Hi There, today i took only 1 scalp on the GBPUSD at the open of the london session for +15 pips. GBPUSD then continued to sell off for 237 pips. Even though I only took 15 pips you could have easily have held the trade with the help of the Forex Dashboard. It all depends on what type of trading you are doing that day and how much time you have available. I put together a video which i have posted titled A scalping method using the forex dashboard if you want to see how i traded this session live this morning.
Hi all, wow what a morning lots of pips to be made. Unfortunately my focus was not on trading i have been working on getting the forex dashboard up and running. What i want to show u is how accurately the Dashboard predicted this drop. As i mentioned in my video the 1st 2 hours of the open of any market are crucial. when i opened my dashboard i could see pound was weak and yen fairly strong then the london market opened and sold off almost immediately the yen strengthened and the pound got even weaker. Price broke the pink resistance line and sold off on the next bar as the london market opened . GBPJPY dropped over 300 pips in 1.5 hours. These are the type of trades that you want to take.Using the dashboard gave a perfect setup with stock markets down resuling in the corresponding movements in currencies. A few of these a month is all you need to hit 1000 + pips per month.
I havent been trading much lately due to most of my time being committed to getting the forex dashboard up and running. However i took a trade on the 24 Nov. I only scalped this trade for 26 pips on EURJPY but as you can see from attached screen shots it was a perfect setup for a nice breakout trade worth over 400 pips once it broke the resistance level of 121.44. The Fx Dashboard indicated it precisely ie stock market was up heavily thereby weakening the Yen and Eur was beginning to strengthen nicely. (click on screen shots to enlarge)
8:18 am CAT big market selloff on the back of FOMC minutes and the downgrade on US growth outlook. I expect market selloff to continue today. as per attached snapshot see how markets are selling off and how strong the yen is giving you a clear indication that carry trades could sell off ie short GBPJPY or EURJPY. As you can see GY did in fact sell off on the 20 Nov. was up and down but the direction was down as was indicated on the Fx Dashboard
Today saw some high volatility and whipsaws so not an easy day of trading. The dashboard judged the strength of the pound perfectly but i traded against it looking for a retrace.The pound did weaken but the better currency to go short on would have been the euro. Nevertheless i took 13 trades some up some down at the end of the day i made a nett profit of + 22 pips.
A pefect example of a correlation trade was at 16:00 when Gold shot up by $ 26 the Eur then strengthened accordingly. Normally you wouldn't understand why the Eur was gaining strength but with the dashboard it was clear. As the stock markets sold off at 17:30 the yen then strengthened alerting you to a good short opportunity on the EurJpy. These are just a few examples of how the forex dashboard can be used with a high degree of success.The dashboard does not show you the immediate reversal as the price moves lower or higher it alerts you to when prices are about to break out of ranges and when there is a significant shift in strengths and weaknesses in the currencies. ie the market noise is filtered out to a large extent so you can focus on the high probability trades.
The total nett gain on my trading from the 29 October till 19 November is currently at + 1273 pips
Hi there, havent been trading much the last 2 days instead i have been working on a scalping method which can be used quite effectively with the forex dashboard. Just today i have made +88 pips 6trades 6 wins. EURYEN +21 pips in 10 min, AUDJPY +13 pips in 34 min, AUDUSD + 10 pips in 29 min, EURUSD +12 pipsin 3min, EURYEN +17 in 9 min, correlation trade (GBPUSD and EURUSD) +15 in 55 min. Please see attached screenshot of trades.
The Development of the Forex Dashboard is going well i have attached asneak preview of some of the interface and what it may look like for the initial currency views.
Hi there, took a short GBPJPY trade just before london session opened for a 90 pip loss. 12.20 pm CAT i then saw a really good setup for a long on EURJPY (see attached screenshot) took half profits for 35 pips and the 2nd half for 24 pips. Total nett pips for today -31 pips. So the last few days have been negative but could have been a lot worse, overall i am still way ahead. I will post a summary of all trades later this week. As i was saying earlier there isn't a system out there with no losses if you find one keep it to yourself. my system has losses but they are limited and the overall gains are more than the losses. At the end of the day thats what counts. A quick observation markets have definitely regained some normality so don't expect the huge runs of hundreds of pips best to bank the pips when you see good profit.A quick calculation reveals i am 1282 pips up since 29 October 2008 (9 trading days). 4.15 pm CAT just went short on GBPJPY at 155.64 appears that equities want to sell off and GBPJPY sitting at key support. 5.30 pm CAT took profit for 102 pips on half ,then a further 22 pips for 1/4 and last 1/4 for 8 pips. total pips 81. Total nett profit for the day is 50 pips. not bad as i started with a negative 90 pips . Please note all these trades are live as i take them using my technical analysis tools and the forex dashboard for confirmation. Anyway thats me for the day cheers till tomorrow. 6.08 pm added another screen shot (top) you can see clearly here how all the equity markets are selling off and the effect it has on the yen strength.
11.30 am CAT well even with the great volatility i still only manged to lose around 50 pips yesterday where there were literally hundreds of pip moves on the interest rate announcements in England and Europe. Today is Non Farm Payroll jobs losses expected to be at -200k unemployment to widen to 6.3% so not a pretty picture.My prediction is the USD will weaken further today and as per my forex dashboard we can see that the USD is very weak . A very basic trade is to look for the weakest and strongest currencies and trade them. I am currently long EURUSD at 1.2799 and EURYEN at 124.82. currently up 53 pips in total .Stocks are up so that will also weaken the YEN. anyway thats my outlook for today if i see any major moves ill either get out or reverse my positions. 12.10 CAT i have included a screenshot of the trade i took currently up 59 pips this can change in a heartbeat but im leaving the trade as is until the outlook changes . NFP came out at -240 k unemployment deteriorated. This was a real whipsaw very hard to trade i closed my first 2 trades for - 143 pips. then i went short on euryen and lost another -113 pips. i then went long on gbpjpy and eurjpy for a profit of 108 pips and 79 pips. The end result was i was down -69 pips. It was a terrible day to trade i was happy with a small loss of only 69 pips considering the whipsaws.
11.00 am CAT. yen looking weaker today pound strong. equities are up. decided to go long EURYEN at 126.90 and GBPYEN at 156.40. BOE announce interest rate at 2 pm CAT and ECB at 2.45 pm CAT. so that will defintely move the market.This is probably a risky trade but indication is its in the correct direction. stop loss at 154.70 GBPJPY and EURJPY at 125.15 stop loss. This could be a really good trade or my stop could get hit quickly main thing dont overleverage your position.12.40 pm CAT decided to reverse position on euryen anf gbpjpy stocks sold off heavily so decided to close positions took a 48 piploss on EY and 52 pips on GY. im now short EY from 126.31 and GY from 155.79. 2 pm wow 1.5 % cut from BOE big selloff on pound the EUR will selloff most likely as well. so GY and EY short was a good option. ive gone short GBPUSD and short additional unit on GY and EY. This is a big move 1.5 % is massive we will see big selloff on pound and im sure the eur will have a similar move when they announce their rate.Huge retrace on pound but im sticking with the GBPUSD short. If pound goes above 1.6020 i will close all positions and take quite a hefty loss.2.45 pm 0.5 % cut from ECB so market dissapointed some selloff on euro and EY. got stopped out on GBPUSD and decided to keep my other positions based on levels of resistance. Interest rates are the most difficult thing to trade you can either make money or get burnt massively. the key is adhere to money management always so when u take a loss it doesnt blow your account the converse also applies you dont have those massive gains. 3.05 pm im out on everything with a smallish loss in the region of around - 50 pips which im very glad with as i was down over 600 pips at one stage. very strange price action i wont be trading the trichet speech. lessons learnt only trade what you see not what you think and never never overleverage yourself.
10:22 am CAT Hi All, I have decided to go short on EURYEN at 127.48 looks like markets are quite weak and seem to be selling off .I am currently uploading a new video on site re : metatrader indicators and forex dashboard trading strategy.12 PM CAT yen continues to strengthen i have taken some profits half position for 123 pips moving stop loss to break even so a free trade cant lose.stop loss taken out but made +61 pips for the day . no more trades for the rest of the day.
11.55 am CAT. hi there not much trading going on today i think its best to stay out for now as the US elections are on today as well as the ECB and BOE announcing rate decision on Thursday. There is speculation that BOE may cut as much as 1 % which seems very possible considering Australia cut their rate by 0.75 %. presently you can see the GBPUSD under pressure so there may be a further selloff but id rather stay out for today. I will be posting a look back on the results i have had since i started posting on this site. as far as the web based version of the forex dashboard is concerned my programmer is currently busy converting the Excel application , its going well but will still be a while before we have a beta version. 12.24 pm CAT wow i was just alerted for a trade massive selloff on yen ive gone long EURYEN at 126.49 amazing how quickly things change. if i see a good move and my signals are in line i take it. 12.30 Just took profits on half position for 44 pips stop loss at 125.90. 2.30 pm CAT well the market has continued with yen weakness and equities gaining momentum i have updated the forex dashboard pic and you can clearly see that stocks are on the up yen selling off and all other currencies gaining on them currently up 100 pips on the 2nd half of EURJPY position. please note all the trades are live you are receiving the delayed trade but i am taking all these trades live as we speak. please see attached summary of all live trades taken from the 29-10 to 4-11 for a total of 1371 pips !I ordinarily dont like posting results because then people get all excited and overleverage trades etc - sure way of blowing your account. what im trying to demonstrate is how effective the forex dashboard is. Thats not to say there wont be losses but it is an effective tool that can greatly assist you in making trading decisions. 7 pm CAT well EURJPY has gone ballistic up 437 pips but sadly i closed out my second half for a mere 39 pips so a total of 83 pips. should have been 263 pips but hey a profit is a profit. The main thing is the Forex Dashboard chose the direction correctly once again so another good day. + 127 pips in total
Hi all its currently 9:00 am CAT , i decided to place a further trade on friday 31-10 on CADJPY long currently up 147 pips. please note all the trades i have called are live as you can see on my live trade account that i publish. Its very easy to look back on trading opportunities and say i should have got in there but what i am demonstrating to you is how powerful the forex dashboard is and how it can assist you in making your trading decisions. Note i say assist you nothing is for certain especially in the forex market. so anybody looking for a sure thing forget it it doesnt exist i only trade what i see i cant predict the future anybody telling otherwise be very wary of. so what do i see for today the yen is very weak its selling off against all currencies so i am already in on CADYEN at 81.78 the pound is looking good for a long im going long GBPJPY at 162.80 london market is opening in 1 hr lets see what happens. my stop loss is at 160.80 . Those of you looking for more information on my indicators i trade with email me and ill send you them for free. im going to redo the current indicator video as its not that clear. 10:40 am CAT stopped out on GBPJPY for 200 pip loss and closed CADJPY 62 pip gain so taken a loss but thats forex its never one way traffic if you think it is well you may as well put your money in the bank because losses are part of trading. the most important thing is to protect your capital by not risking more than 1 to 3 percent of your capital in total. my bias is still long on the pound with a weaker yen so im not going short until a short signal is given and confirmed on the forex dashboard. 3.30 pm CAT picture has changed quite dramatically yen now very strong decided to short on EURYEN AT 126.26. decided to close EURYEN out at 4:11 pm CAT for half position 75 pips and at 4:21 pm closed the last half for 58 pips. Total nett -80 pips for the day market seems to be entering a sideways movement now so waiting for a solid breakout and direction possibly look at scalping opportunities. please see my live trading transactions above for the day (click on image to enlarge)
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