Home > Forex > Another terrible week, week 03

Another terrible week, week 03

January 24th, 2010

Like I predicted in a blog posting in the beginning of the week (”To scalp or not to scalp…“) it was just a matter of time before FAPT USDCHF, the latest and greatest pair with that particular EA, blows up. It happened just one day later. There was a jump in price when the results from the election in Massachusetts was revealed. I must admit that I wasn’t enough informed about this event (I’m a Swede and it really haven’t gotten any coverage here), had I known I probably wouldn’t have traded the USD pairs that night. But that’s scalping for you…

w1003_alpariuk

Alpari UK live micro account. Uses FAP Turbo and MegaDroid.

As you can see there was sharp losses taken after the election result was released. FAPT hit a stoploss of 82 pips in USDCHF and MegaDroid hit a 42 pip one. All in all it really took a good bite out of the account. I’ve greatly reduced the lotsize of all FAPT pairs after this. I can’t continue trading with these high stoploss levels (in relation to TP levels). I leave MD with the same settings, I can stomach a 42 pip loss now and then, it is much more solid. Total loss for the week was €56.

w1003_forex

Forex.com/UK live account. Uses RoboMiner and MegaDroid.

Quite a slow week at this account as both AUDNZD and EURCHF keep going to their extremes, letting RoboMiner just close a few trades. The bump downwards in the graph was a MegaDroid chart that hit the same SL as mentioned above. All in all MD made $42.30 thou, so I can’t complain. The account is really getting stretched thin on free margin, it’s hovering around the $1000 level now. I will be forced to add funds to it if it doesn’t reverse soon. I really want at least $1000 free so MD can make trades with reasonable lot sizes. Total gain over the week was $78.

w1003_jadefx

JadeFX live account. Uses FAP Turbo, MegaDroid and Forex Shocker.

About the same performance as the Alpari UK account, but because I use higher risk here it took the FAPT USDCHF stoploss even harder. At 0.2 lots it lost $158 in that one trade. I completely stopped FAPT after this. MegaDroid and Forex Shocker will trade this account on their own for the time being, even thou they also took one stoploss each. Total loss was $124.

So, this is life with the scalpers. I’m currently basically shelving FAP Turbo now (just trading 0.01 lots on the Alpari UK account) trying to figure out what settings might be all right to run. If any that is. Total loss over all the accounts this week was $124.

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