EUR CAD

The EURCAD cross is in a downtrend but has found some support as you can see. XTL is still bearish but we do have some buyers bars. Further strength could see price reaching the next resistance line on the chart at 14600.

I spoke to our resident dentist Soodi this morning and unfortunately I cannot give him all your emails asking questions regarding the strategy as he wont have the time to answer them but what he has told me is when he was testing the strategy he started with a pot of £50 in the account and was trading 50p a pip which had then risen to over £600 with no losses. Now that is amazing but what I will say is no strategy is 100% consistently right and although it works extremely well there is a degree of luck involved for not having any losses so you should not expect the same results as our Dentist friend.

On another note, hoorah to Turkey Catcher who was on his way to work to hand in his resignation this morning. He decided catching turkeys is no longer his passion but trading is the way forward.

To answer a question from Peter of Melbourne, you are right I do know the traders of WT but I am sorry although I have the software I don't really need to use it and so cannot recommend it which is why I have not organized a discount with them and put a link on my website. However, the software packages I do use I do have links on my website for them and with good discounts.

On the topic of software packages, there is an abundance of software available for trading, some cheap, some very expensive, some good and a lot of them not so good. Tomorrow I will give my thoughts on trading software.

All the best for today guys.