Items Tagged With kathy lien

The Lien Schlossberg forex trading signal service hasn't worked out well so far.  It isn't so much the losses they have incurred as much as the inability to act in an expedient manner to execute a trade based on their signal.  Here are a couple of reasons why it hasn't worked out for me:

1. I lost a little bit of confidence in them last week.  They made a couple of trades last week that I felt were impulse based on previous losses.  This is strictly my opinion because there is no way I could actually prove this.  I could be totally off base.  They did state in a weekly recap email that they made "boneheaded" calls.
2. As I've stated before, their trade calls have to be followed very closely.  When I get a text message or email from them, I must execute the trade right then and there.  They have sent out trade calls during many different times so I've had to be on my toes.  I can't always be in front of a computer with my trade platform open though so this has not been easy.  For instance, yesterday I was in a USD/CAD trade that had a set profit target and stop loss.  They jumped in at 7:15 am to tell me to get out of the trade.  I couldn't because I was in transit.  Instead of making a tiny profit, I lost 4 pips.  This is totally acceptable to me considering the ever changing market conditions so this is not a knock on them.  This is more a question of whether these type of trade calls fit my schedule. 
3. I haven't received the trade calls via text message because they failed to be delivered.  I don't have real-time access to my email all of the time but I do to my phone.   They finally stated after I had asked them a couple of times that Verizon was failing to deliver some of their text messages due to overload.  It seems like they may have addressed this issue.  I'll have to wait and see.

Trading Forex this month has proved difficult.  The last couple of months of 2006 was smooth sailing compared to the first 17 days of January.  Similar to yesterday, I've had a couple of losses that have dropped my monthly tally to -76.  http://www.forexproject.com/My_Forex_Goal/

I've lost a couple of trades on my own today and Lien Schlossberg had a losing call today also.  I've lost 110 pips using their service this month.  On a side note, I received an email from them yesterday asking me to confirm that I wasn't giving away their signals on this site while a trade was still open.  Supposedly, a visitor to this site sent them an email saying that I may have been.  I've never posted anything in real-time stating any of their trade specifics so I don't know what they're worried about.  

This is sort of unrelated (or is it) to the email I was talking about above but I'll continue voicing my opinions and critiques with integrity.  I'm sure I'll continue to get emails from people once in a while who aren't happy with them.  I don't usually mention these emails because it's better to just address it with them directly and then let it go.  There should be an understanding that this site expresses my opinions and my opinion only.  If someone isn't happy with my take, they are certainly welcome to comment.  I don't censor comments and never will.  

I am alive and watching the market somewhat.  I am watching what unfolds at midnight EST when the Bank of Japan announces whether they are increasing interest rates or not.  If they do, it would mark the first time in six years.  Supposedly, they are expected to raise rates by at least 25 basis points.  According to Kathy Lien, even if BoJ does raise rates, it doesn't necessarily mean bullish times for the Yen.  According to her, there are 3 possible scenarios that can happen tonight:

1. Leave interest rates alone which would clearly be Yen bearish.  LONG USD/JPY
2. Raise rates 25 basis points and signal that in the upcoming months more rate increases are expected.  This is clearly Yen bullish. SHORT USD/JPY
3. Raise rates 25 basis points and indicate that just because they are raising rates now doesn't mean they will continue to raise rates.  This is a highly likely scenario and one which doesn't give a clear directional signal.

I don't know what I will do if anything to trade this pair tonight.  The pair is trading right now at its highest since the end of June at 115.87.

If you want to follow the Bank of Japans decision, go to http://www.boj.or.jp/en/theme/seisaku/kettei/index.htm  

It's been quite a rough patch in the non-trading world the last couple of weeks and to top it off, I started this week on the OUT SICK list.  I'm still in bad shape so I really haven't performed any website updates over the past couple of days.  I finally got my trading history for the month up to date at http://www.forexproject.com/My_Trade_History/

I am at -31 pips for the month of January with 1 day left.   I have no one but myself to blame for this but the service provided by Lien Schlossberg has not helped.  I am down -118 pips using the service this month.  When I started using it, I was hoping to diversify a bit since I have mainly been trading only the GBP/USD.  

On the other hand, my H-system trades have performed well, +377 pips for January.  http://www.forexproject.com/H_Trading_System/

The other losses that I've incurred have been due to my discretionary trades.   

I'll get back to everyone later when I feel a little better.  Good trading.... 

Some of you have told me to lose the signals I get from Lien and Schlossberg.  I'm going to stick with them for now for two reasons:

1. Because I said I would stick with them through the end of February
2. It makes for a nice experiment which is what this site is all about

There is no doubt I'm in a slump, down 186 pips this month.  I'm still not too concerned that my streak of consecutive winning months will end.  I feel like I might be able to turn this around before the end of the month.  

To put this in perspective though, based on my performance over the previous three months, I've pretty much broke even.   So after hours upon hours of studying and trading over the last 90 days, I don't have much to show for it.  What keeps me going is the fact that I've only been trading for a year and a half and the simple fact is, I've been profitable over the last 8 months.  My winnings haven't pushed me over the poverty level but like I said, I still have a lot of experience to gain.  

This month and next month will tell more of the story though and I consider this string of losing as the true test.  If I can fight my way out of this I'll have a world of confidence and hope. 

Don't be surprised if the posting is thin this week.  I've got a lot of non-trading things going on right now.

I received a Lien Schlossberg signal this afternoon so it turned out that my trading was not over for the week.  The first lot has already closed out for a profit so I'll add an additional 14 pips to my total.  The second lot is up 20 pips right now.  The trade is a USD/CAD short.  

This week, they've had 3 trade calls.  All 3 have hit their modest first profit target.  It remains to be seen if this trade will be the first to have the second profit target hit.