It is 1.00am NY time Friday August 28 and the market is at 1.4360
After my previous trade was closed on the 50% Fib line, I stated that I was waiting for the bounce back up to the Resistance Line at 1.4350 so that I could SELL it again.
The market rose as high as 1.4405 and then started falling back.
I sold at 1.4365 which was 15 pips better than my original target.
I am now letting the trade play itself out, but I am desperately trying to get more than 46 pips so as to get the Fund to over 2000 pips.
On that note , today is the 1 year anniversary of the Fund's very first trade. You may recall that the Fund was officially launched on August 8 2008. By sheer good luck (LOL), that was the exact same day that the Great Financial Crisis and the explosion in volatility started. How lucky am I ??!! But the first trade was on August 28, 2008
In a time of the absolute worst possible trading conditions for Trend Trading, we have earned 1,954 pips and a return of 40% using a super conservative risk of just 2% capital risk on any one trade. (If we had used 5%, we would have doubled our money…). I am hoping that todays trade will get me over the 2000 pip line which will give us even better numbers.
More importantly, we have been through the worst of it…In the last two months we only had ONE losing trade…. and our A-H trade got it all back plus more
The performance of the Jackson Fortress Fund blog can be seen here:http://www.jacksonfortressmembers.blogspot.com/
User ID......... jacksonfortressaccess
Password.......jacksonfortress
Since the Fund's trades are the same as MY trades and are the same trades that I send out to each of you, this is also summary of the exact trades that I have sent out to members over the last 12 months
NOTE: The percentage returns of the Fund and my own personal accounts are to be treated as Private and Confidential. I do not want my personal income details and the Funds returns posted on FF (or any Forum) where they can be trashed by ignorant trolls. That stuff is then kept in the public domain forever, even if what they say is absolute rubbish,and will have an impact on the future growth of the Fund. I expect each member to be responsible regarding this information and sensitive to the immaturity of some forum participants.
Edit 3.00am NY time Market is at 1.4334 I am content to let my short from 1.4365 play itself out. It had a big run up yesterday afternoon NY time on the back of a very successful (well bought) $28 Billion auction of 7 year T-Bills. (look out, China is back in buying up USD assets again). Because today is Friday, I will be closing my position today. My initial target is that the market is heading to the previous low of the low 1.4200's but I want to be out so I will be targetting 1.4250 as a nice exit today. I will SMS my target as we get closer, as I might try to squeeze some extra pips out of this move
Edit 8.00am NY time Market is at 1.4370. The European session has taken the market up from its lows of 1.4324. I am continuing to let the trade play itself out.
Now might be a good time for me to repeat my warning that that I say every couple of months:
I am not a signal service...My trades are not a recommendation. They are simply to allow you to see WHEN and WHAT I am trading and WHY.
I don't ask people to follow only my trades. My trades are simply MY trades,... some of the group trade my trades PLUS their own
My positions are to find a good medium term target, place the order, place a Stop Loss and then let the trade play itself out. IF you are uncomfortable with anything in ANY of my trades, feel free to use your own discetion
Edit 12.10pm NY time. Market is at 1.4353 I suspect that this market is going to be sent down in the thin US afternoon session and early next week. I am therefore going to do something very unusual...I am going to keep my positions open over the weekend and look at the market again next week.
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