As last week, I will not be doing too much talking in the trading room whilst trading. I will comment as and when I can. Due to the hazardous nature of summer trading, I will restrict trading to inside bars only for this week. Please bear in mind that many seasoned traders do not trade at all during August as markets are notoriously unpredictable.

STATE OF PLAY (Target/stop loss 20/30 on GBPUSD & EURJPY, 40/60 on GBPJPY for system II; capital £20,000, 1.5% risk per trade)

System I signals (renamed from system II)- price action
No live trades today.
August cumulative 69 pip loss (£-345).

Inside Bars (1% risk per trade)
CLOSED - EURJPY - sell @ 162.34, 48 pip loss
CLOSED - EURJPY - buy @ 162.82, 21 pip loss
CLOSED - EURJPY - sell @ 162.61, 13 pip loss (unbelievable whipsaws!)
August cumulative 22 pip loss (£-254)

Swiss Army Knife special (1% risk per trade; place stops at 7am)
Monitoring only - 1/8 break even, 4/8 1% win, 5/8 break even, 6/8 break even, 7/8 1% win, 8/8 break even, 11/8 break even, 12/8 break even, 13/8 break even, 14/8 1% win
August cumulative 0 pip loss (£0)

Weekly Break Out (1% risk per trade GBPJPY)
Monitoring only - 4/8 closed - sold @ 212.00, 100 pip profit (£165), 11/8 sold @ 210.76, 118 pip profit (£200)
August cumulative 0 pip profit (£0)

Wednesday Special (1% risk per trade GBPJPY)
Monitoring only - 6/8 1% win, 13/8 1% loss
August cumulative 0 pip profit (£0)

August total cumulative 91 pip loss or £-599 (-3.0%)