Tuesday October 10th

Hello Forex traders,

I exited out of 1/3 of my position in the GBP/AUD yesterday with about 80 pip winner. As of this writing I still have the other 2/3's of the position still short. And at present that is currently in profit by a little over 200 pips. It is currently at 2.4970 which past first target. I have put in a stop a little above 2.5000 so worst case I will close out the rest of the position with about 170 pips profit. I am still looking for some more downside though.

I hope you were able to trade it as well. I know a lot of forex brokers don't offer the GBP/AUD pair but it is a great pair and used frequently with the LazyTrading.com software. I have found a broker recently that offers it and I was able to use them for this Divergence trade. (Usually I have always had to use BetonMarkets for GBP/AUD trades)

You can find the broker at http://www.SuperMiniForex.com They offer a low $100 minimum deposit and you can deposit by Credit Card which is very nice. I have only used them for about a week now. Their spreads aren't the greatest by any means. I only plan on using them for the GBP/AUD myself. So if you are looking for a good way to trade the GBP/AUD this is a good way to go. Or if you are just looking to start in the Forex market at $100 Minimum with credit card deposit I don't know of another broker that low. You can download their free demo software as well. (You can also find the banner on the top of this blog)

As far as yesterday's trades we didn't have any LazyTrading.com software trades. The market was a bit slower yesterday maybe some people took some time off as it was a Holiday in Canada and the U.S.

I don't show any scheduled news releases coming out today that would move the markets.

As far as Tuesday trading with LazyTrading.com historically 2 good pairs to trade......

GBP/AUD
GBP/YEN


Feel free to contact me with any questions at alleycatnews@alleycatnews.net or on Yahoo messenger at bomsoftware

Have a great trading day
Steve Hoven