Fixed Odds Trading Strategy

We’ve seen a lot of data this week and the £ is struggling against most major currencies, except the US$.

The constant fears of recession and the lingering fallout from the sub prime credit crunch in the US means that their economy is in a worse state than the UK. Hence the £ holding it’s value against the US$.

We had a low no touch win on the 27th at 12%. This is the level that we also set for the 30 day trade. One week in and the £ is 8 cents away from the level that I set. So all of you brave enough to buy the trade could be looking at a nice 55-65% gain, but 3 weeks is a long time in forex, so keep your eye on the value of the £.

When a currency is range bound, as in the £$, it can become a bit lethargic watching the charts. But also, there lies the profits for us fixed odds traders. With relatively minor adjustments we can keep using a barrier range trade at 7-10 day intervals. In between I keep looking for the opportunity to place a no touch trade.

I see no real reason to jump around in the markets trying to keep up with all of the data when one currency pair provides excellent trading opportunities.

If you do that and get bored – then just count your profits and relax.

Graham

Profit Vortex