Archive

Archive for December, 2010

Is HotForex a new good STP broker to checkout?

December 29th, 2010

A few weeks ago over at Donnas forum a thread discussing HotForex gained momentum. I didn’t think much of it at the time, there are so many brokers out there no one can keep up with all of them. And it is rare that they are anything worth thinking about either. Since then I’ve been checking the thread now and then and it seems people are pleased with their experiences. There are also very favorable reviews at Forex Peace Army, a site that usually is on the negative side (common human behavior to only report negative events of course).

The last thing that really spurred my interest was something I saw just today thou. They are now featured on CashBackForex and give 0.4 pips / lot back. I’ve asked how this applies to the Currenex account type at HotForex but still haven’t gotten an answer, hopefully it is valid regardless of account type (Update: Yes it was). The Currenex account is a ECN with $10 / lot traded ($5 per side) in commission, that with a rebate of 0.4 pips would be $6 / lot. The spreads and execution are supposed to be very good. Minimum deposit is $500 and minimum lot size is 0.1.

In order to get the rebate you have to register at CashBackForex.com of course and follow the instructions posted there. I’m thinking about checking it out.

Difficult November for scalping EAs

December 3rd, 2010

November is over and it is time to look at the performance of my scalper EAs at JadeFX. It was the worst performing month since May this year with “just” 2.88 % gained. There we’re two massive loosing streaks on the 3rd - 5th and the 18th - 19th. In both cases news pushed prices out of the usual channels during the Asian session basically affecting all scalping strategies.

jade_novemberPerformance outside of these dates was good. Risk taken is clearly quite high, but it is intended as a high risk account. I am experimenting with tighter stoplosses and adapted timeout values as a way of reducing the swings.

Most profits (and losses) are made by The Channel Scalper trading EURGBP, but the performance of XBars MA Scalper on GBPUSD this month is notable. It took profit in 9 of 11 trades (82%) and made 99.5 pips in total because of it’s sensible TP vs SL ratio of 1:3.