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June 23rd, 2005
Gold prices have moved
a little higher since my update earlier this week. My thoughts on Gold
haven't changed though. In looking at the charts, it looks like a nice
breakout but we will have to wait and see a little bit. I would for
sure like to see it remain above $430 an ounce. On the weekly chart
I would like to see a close above $446. At this point, due to the nice
run up, it isn't something I would be interested in trading at this
point but maybe sometime in the future newsletters.
I DO NOT HAVE A CURRENT POSITION IN GOLD AND DON'T PLAN TO BASED ON THIS INFORMATION.
ALWAYS LOG INTO EGOLD VIA https://www.e-gold.com ,bookmark it, and use your bookmark to go to the site rather than via any e-mail or link online.
PLEASE USE YOUR HEAD WHEN IT COMES TO E-MAIL. Egold/Paypal will NEVER e-mail you asking you to log in, so when you get an e-mail like that DELETE IT.
You can always find the current issue of Alley Cat News on the website under Newsletter.
I will be leaving this section to the http://www.christian-finances.net site which is now open.
It deals with a lot of $$$ issues like Mortgages, Taxes, Gas Prices, Everyday Expenses, Home Businesses, Making $$$ this week, Wasting $$$, and much much more. So check out the website if you want more information on $$$ ideas.
There is a lot more information on the New site so even if you went to the finances.alleycatnews.net site previously, the New site has MUCH more content so Check it out.
Betonmarkets Guru Service
The Betonmarkets (BOM) Guru service has performed very well in May. In June I have only had a few trades due to the fact that I was on Vacation for 2 weeks.
The price of 30 days of Guru selections is just $1. However, starting Friday, the price goes up to $20. Risking just $10 a bet on the Star 1 trades would have produced over a $150 profit for May.
If you want to try out the Betonmarkets Guru Service, this is your last chance at the $1 price.
I have setup a webpage that explains more about Betonmarkets, my type of trading, when the trades take place, and other important information.
Whether you are currently a subscriber to the Betonmarkets Guru Service or you are interested in trying it out, the site will answer your questions and give you additional tips.
To go to my Betonmarkets Guru Service page just go to:
$300 Forex Challenge
In the May 27th edition of the Alley Cat Newsletter which can be found at http://www.alleycatnews.net/news/05-27-05.html , I had an article that asked if it is possible to turn a $300 monthly income into a $4000 monthly income.
I won't rehash the whole article as you can read it for yourself but the jist of it was "If a person were to produce 100 pips of profit a month trading the forex market for about 2 years, they could turn that $300 one time investment into $4000 a month income."
Well, since I wrote the article I figured I might as well put it into practice. So starting in July, I am going to try to turn a $300 forex trading account into $4,000 a month income (putting my money where my money is). I will post updates each month on the progress etc.. (I am starting the first of July as June is almost complete and I was on vacation for 2 weeks)
I will use the same strategies that I laid out in the article as far as Money management etc..
I will ONLY use my Simpleforex.com trading system and the strategies it talks about in its ebook. And I will only trade during the chat room hours which are from 6.30am-10.30am EST. (10.30am-2.30pm GMT). So those in the chat room will see the trades that I am placing for this challenge.
I won't trade $$$ for people but if you would like to watch the challenge in real time in the chat room, you can do so by purchasing the Simple Forex System. We are raising the price as of the end of this weekend and we do have a 90 day money back guarantee on the product. To check it out go to http://www.simpleforex.com
Forex System Update
The New Forex Website is now available at
The price of the Simple Forex system is currently $99. This includes 3 months of Chat Room support and a 90 day Money back guarantee. I want you to be satisfied with the trading system or if not, get your money back.
June 26th is the last day for the discounted price of the Simple Forex System. After that date it will go up to $199. It is well worth that price with the Chat room support and the system itself. So if you want to get in at the discounted rate do so by June 26th.
I don't have a recent chart for you this week due to the fact that I was on vacation for 2 weeks and didn't do any trading.
What I will talk about though is risk/reward and give you a break down of the trades I did in May. I won't go into why I trade the way I do with risk/reward as it's a long story over a time span of many years but I will try and make things short and sweet.
I believe in cutting your losses and letting your profits run. Sure you've heard that before but it is really true. I don't worry about my winning % on trading the forex. What I look at is the end result (How many PIPS (points) I made for the month). You can't cash in your winning % at the bank!
I guess the real question is" What would you rather have... a trading system that wins 70% of the time and averages 50 pips a month or one that wins 50% of the time and averages 100 pips a month?"
It's great to say that I have this high winning rate but that doesn't pay the bills. The end result is what makes you $$$.
I only trade with my Simpleforex system during chat room hours. (6.30-10.30am EST). There are many reasons why I do that but one of the main ones is so the subscribers can see the exact trades I do by coming into the chat room. I am not interested in showing 200 pips profit with my subscribers only getting 50 pips. I wanted everything to be transparent. Of course the Simpleforex system signals trades at different times of the day (The forex market is open 24 hours a day but I only trade 4 of those hours. Of course people can trade and do well trading other times of the day. I just prefer to trade when everyone can see the exact trades. So even if you can't trade during the chat room hours, it is still a good system to use).
With me trading only during the chat room hours, I can show the subscribers what I am doing and they can follow along and see the trades I am doing. So our end results could be the same.
So that all being said, I took 14 trades for the month of May via the chat room (Using the simpleforex system and trendline trades that are laid out in the Simpleforex system). Out of those 14 trades I made, I had 175 pips of profit (A pip is what many think of as a point. For example if the yen went from 107.51 to 107.52, that is 1 pip). A pip in general is worth about $10 per full contract/lot and $1 per mini contract/lot.
So based on those figures, if I made 175 pips x 1 full contract, that would be a $1750 profit. On a mini contract the profit would be $175.
So how many trades out of those 14 needed to be profitable do you think it would take for me to make 175 pips for the month? Well if I won 10 of those 14 trades that would be 71% winning rate. If I won 8 of the trades that would be only a 57% winning rate. Do you think I could make 175 pips off of only winning 57% of my trades?
Well actually my winning rate was WORSE than that! I only won 6 of the 14 trades; that is a 42% winning rate but I still made over 175 pips for the month (My goal each month is to make 100-200 pips).
How can a person make that many pips by only winning 42% of their trades? By cutting their losses and letting their profits RUN!
My average loss was 11.5 pips per losing trade (The max I lost on one trade was 18 pips).
My average win was a whooping 44 pips profit per winning trade!
That is almost 4 times as big for winning trades as I had for losing trades.
My biggest winning trade was over 110 pips! That trade itself wiped out ALL the losers for the month.
My point is that winning % in forex trading has little to do with profit. I believe in good risk/reward.
Say you are betting your friend on a flip of a coin- Heads or Tails. You can play the game 2 different ways. The first way is you are "Guaranteed" to win 70% of the flips and for every time you win your friend gives you a $1. For every time he wins you give him a $1.
The second way is that you're "Guaranteed" to win 50% of the time; however, when you win your friend will give you $2 and when he wins he will only get $1.
In the first way you have a high winning % but the risk (Your $1) is the same as your reward ($1). So if you flipped the coin 10 times and you win 7 times and lose 3 times, you would net $4 in winnings.
In the second way you have a much lower winning % but your reward for every win is $2 and your risk is only $1. You flip the coin 10 times and you only win 5 times but you get $2 for each win or $10. You lose 5 times ($5) so your net result is $5 of winnings.
So even though you had a much lower winning rate you still made more money!
Obviously the coin flipping %'s are just an example. I don't guarantee anything with my system except for the fact that if you're not satisfied, you will get your purchase price back. But hopefully that shows you the point that % rates in trading don't always mean everything.
(Of course it's different when talking about Betonmarkets trading as that type of trading is either a 100% win or 100% loss. There is no in-between).
So if you are interested in checking out the Simple Forex System which offers 90 day Chat room support and a 90 day Money Back Guarantee, then check out our site. Next week the price goes up.
Available for purchase via E-gold and PayPal. Email me for details.
OTHER NEWS YOU CAN USE!!!
* The Betonmarkets Guru Service at http://www.alleycatnews.net/guru
and the Simple Forex System at http://www.simpleforex.com
Prices goes up this week so get in at the discounted rate.
* http://www.christian-finances.net is a new website. It's all about finances. If you are looking for good information on your $$$, this is the place to go. Also if you have ever gotten a forwarded email in your life, check out the Forwarded Email Section.
* There has been some more grumbling from the Pips program as far as getting cash out. I have heard from others that they are able to spend their pips $$$ on other merchants and are able to get some value out of their account that way. It sounds pretty hit and miss at this point. Time will tell how things go with Pips.
* Sign up for our Free Trading Newsletter at
* My contact information is always at the bottom of each Newsletter.
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THE NEXT NEWSLETTER WILL NEXT WEEK IN EARLY JULY 2005!
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