Home > Forex > Account update week 31

Account update week 31

August 3rd, 2009

Haha, this is getting comic. So I won’t even say anything about it…

w931_alpariuk

Alpari UK live account

… well. Just that the last trade of the week, FAPT in USDCAD, lost €87. That was not a good feeling for a otherwise positive week (note that the €100 jump early in the week is the cashback I made in June that I deposited in the account). I will be evaluating FAPTs settings for this coming week. Donna announced Saturday that she will stop trading FAPT at Alpari UK after two months of not so good results, and since I am at Alpari UK I’m of course a bit worried. I will not stop trading there this week thou, but I will probably stop trading after 23 GMT on both EURCHF and USDCAD.

As for MegaDroid on Alpari UK nothing special has happened really. I turned down risk for the week early on and it haven’t traded quite as much after that.

w931_forex

Forex.com/UK live account

As for the account on Forex.com/UK I stopped MD completely before last week because of all the crashes. I then bought and started trading RoboMiner (II). I also enabled MD Pro with very low risk settings. Nothing spectacular on the account yet, but I almost made the $40 monthly fee of RoboMiner in the first two days. This Friday I also added another $500 (that’s the big jump in the graph above) and upped the lot sizes to 0.04 AUDNZD and 0.03 EURCHF. Hopefully this setup can make some steady progress.

As for brokers I am reviewing quite a few ECNs to take over my FAPT trading (and MD/ MD Pro with it). The favorites right now, in terms of performance on the demo trading, is JadeFX and TheCollectiveFX. Both have excellent spreads and data streams. I don’t know about the other important aspects thou (like support and not trying to rob you). FXCBS is also a real contender, however it hasn’t performed as nice in demo for me, but a lot of people are really pleased with them live. Cashbackforex.com is offering 15% back on the commissions there. The other ones I’m trying is ATC, Broco and GoMarkets.

Oh, perhaps I should say something about FAPT Evo also. I’ve been demo trading it for three weeks now, and I am very interested in starting it live. Last week it made 13% with Donnas High risk settings (that isn’t even that high risk I think). Dukascopy is a real hassle to sign up with thou with lots of paper work. Not like your average MT4 broker…

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  1. Luis Fernandes
    August 6th, 2009 at 00:16 | #1

    Hi Johan. A lot of guys must be writing you concerning this but I´ll try anyway. Do you know how can i get my hands on a FAP Turbo Evolution copy?
    I´m willing to pay well.

    Thnx.

    Cheers

    Luis

  2. August 6th, 2009 at 07:52 | #2

    @Luis Fernandes
    Hello Luis. I had a extra copy, but returned it some time ago. Should have kept it and made a profit on it instead ;)

    I don’t know of a way to get it right now, but it is still my understanding that the developers will sell another 700 copies at some time in the future. They only sold about 1300 of the stated 2000 before closing the shop last time.

    You can of course also check on eBay and such, but I would be very careful there not to get scammed.

  3. Pablo Perez
    August 6th, 2009 at 17:35 | #3

    Hi

    I have been running both MD Pro FAP Turbo and the Steinitz HAS MTF
    I use a broker from Cyprus called TADA FX or Tadawulfx. They are pretty good. Reasonable spreads. Since turning up FAP Turbo and MD Risk Ratios and Lot sizes it seems to be producing more trades and few losses. MD trades but is like a slow man walking to china. It should allow you to up the number of trades. The Steinitz HAS MTF it has skyrocketed my accounts.

    In relation to brokers here is my advice. I have been trading the markets for 20 years and all of it offshore. Get a brokers account outside of your own country and watch the difference. Also try and pick a smaller brokerage firm, and one that all the masses don’t get onto. Every talks about Alphari FXCM FXCBS and the like. And guess what, they will all welcome the mugs with open arms. There could also be to many of these robots operating on the system at once. They all produce different buy and sell signals at different times. Hence why people can not understand why my friends made a profit and my one did not. There is a mathamatical algorithim inside each bot, that is different, a random sequence that stops the all the bots buying at once. This is so as not to overload the servers. Well if every man and his dog goes off to the same broker etc, then you are going to run into problems with the bots all trying to compete with one another. This could well be the cause and it could also be your brokers playing with the system.
    Again hence why I sort out a small out of the way place with a good strong system in place, and they welcome bots and scalpers, I have the email to say this as well. I am not a broker or IB for this company.

    The other thing I notice about all these EA bots is they get in to a trend, and can not see the trend changing and have the ability to react to it. MD claim it does this. And it does, it simply does not trade in changed conditions. MD missed every trading opportunity to go long on the recent EU rise. ??????????? HMMM

    Be great if some one new how to write a bot like this that could read changed market sentiment as it is happening, but then i guess you would need to have a name like Merlin the Magician I guess

    Hasta Luego
    Pablo

  4. August 7th, 2009 at 09:09 | #4

    @Pablo Perez
    Good to hear that you are pleased with TadawulFX Pablo, I have never tried them myself. There are so many it is impossible to test all of them :)

    I’ve found that both FAPT and MD trades more often at ECN brokers (guess it’s because of the general lower spread and better data stream, it is getting ticks more often and prices are more volatile), so I am mainly looking for that kind of broker. I’m thinking of going with JadeFX, but I would like to find some review of it first. It is not so good to find a broker that makes your EAs profitable just to be denied withdraws in the end… JadeFX charges 5 USD/lot in commision where as FXCBS charges 8USD/lot (but it is possible to get 15% of that back, so 0.68USD/lot).

    As for MD not trading with the trend, it isn’t a trend follower. It trades only during 22-24GMT when markets generally is quiet (compared to London/New York session) and tries to grab a few pips here and there. But I find that it is very competent in what it does. MD is my favorite scalper.

  5. September 8th, 2009 at 10:41 | #5

    @admin
    Hi, Johan,

    Pablo is right about big companies - I have ran FAPTURBO on Alpari Uk account and after the FIFO rule gone out, many traders transfered their accounts to Alpari Uk, therefore now I frequently get requotes. As in beginning there were no requotes. So it is better to have an account at smaller and not so known broker, as there may not be so many traders using the same EA.

    Regarding TadawulFX - they offer low spread of 3 pips on EURCHF and EURGBP, so it is good to trade on them these two pairs(personally I traded only EURCHF and USDCAD, cause EURGBP usually made losers). Besides, soon I will be offering rebates on TadawulFX and other brokers, so you can contact me at my site http://forextradingchoice.com.

    About JadeFX and FXCBS - be aware that they are not regulated, so it is your own risk to deposit your money. Carefully search for testimonials on them. I did a quick search about FXCBS and here is one review http://www.fapturboexpertguide.com/blog/fxcbs-broker-is-this-a-joke/

  6. September 8th, 2009 at 15:20 | #6

    @Robertas Jackus
    Hi. Yeah, I’ve heard some horror stories about FXCBS recently also. I am live with JadeFX since 3.5 weeks now, and so far it is a great ride, but sure, they are not regulated.

    Personally I’m looking to open an account at GoMarketsAUS now that Casbackforex offer kickback for them. I’ve never heard anything negative about them.

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