Home > Forex > Weekly update, week 09

Weekly update, week 09

March 8th, 2010

This must have been the hardest week of my brief Forex trading career. As AUDNZD rose well above it’s 10-year high the two biggest accounts below was stretched very thin. The account at CFX was just a few hundred dollars away from getting positions stopped out, luckily my deposit from the week before eventually made it there, in time for the push above 1.31. Because price is above 1.2967 (which I used as trade cutoff) those accounts really haven’t been trading much last week.

w1009_alpariuk

Alpari UK micro account. Trades FAP Turbo, MegaDroid and Green (my own).

Except two stoplosses hit by off hours MD charts this was quite a slow steady week. I don’t know why I still traded those at this accout, I’ve stopped them on all the others. I will here to. It seems that GMT+6 just isn’t working as it did during the Fall 09. I also hit a stoploss on the long term strategy with FAPT in EURUSD, but that strategy still made more than it lost. Seems very nice (using TP40 and SL150-250 depending on market). Total gain was €24.84.

w1009_forex

Forex.com/UK live account. Trades MegaDroid and Green.

As you can see this account is much slower because Green won’t be making new trades til AUDNZD comes back under 1.2967. The profits are mostly due to MegaDroid GMT -1 chart which seems to be the only one except default chart that actually works nowadays. Total gain was $49.77.

w1009_jadefx

JadeFX live account. Trades MegaDroid and Forex Shocker.

I only traded Monday and Tuesday on this account because the change of liquidity provider. Forex Shocker hit a SL in EURUSD unfortunatly so it only made $39.63. I have since gotten a new account and should be getting a new VPS for it today. I’ll setup some new demos and probably start trading JadeFX live again next week. I must say that the new spreads look awesome. It will also be possible to trade 0.05 lots so perhaps we can adjust risktaking a little bit better from now on.

w1009_cfx

The Collective FX. Trades MegaDroid and Green.

The bump is the $2000 needed to cover margin up to AUDNZD 1.32.  The account only made $23.75 during the week, and it is in a heavy drawdown. Last week negative swaps was introduced for AUDNZD, and they are even more expensive than at Forex.com/UK. Not good. I hope that AUDNZD comes back down quickly so I can dismount my AUDNZD trading here.

So, even thou I was really scared that I would loose a lot of the Forex.com/UK and CFX accounts equity with the strengthening AUD it seems to have pulled back into a more safe range around 1.30. Still this range won’t make me money, and swaps are accumulating for all the short positions.

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