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Weekly update, week 10

March 15th, 2010

This week most of my profits actually come from manual trades, as opposed to automatic ones that usually make up 100% of my trading. I am by no means a manual trader, but I have been making some manual buys in AUDNZD as hedges to my open positions. I still have a few open (that is negative now, but I’ll keep them til we’re at 1.2850, which feels “safe” or hits 1.31 again).

There was no trading on my JadeFX account this week as it has been moved to the new liquidity provider. I’ve gotten a new VPS from Jade, which now sports 2 gig ram instead of 1 gig, and have been demo trading from it during the week. I will keep demo trading only today and start easy with just a few charts live tomorrow.

w1010_alpariuk

Alpari UK live micro account. Trades FAP Turbo, MegaDroid and Green EA (homemade grid trader).

Quite a good week at Alpari UK with losses to speak of by FAP Turbo long term strategy only. I’m actually thinking about canning it, I’m back at break even now. FAP Turbo scalper is making nice trades again, but I still sport the huge SL levels in the default settings, so I won’t increase lot size. Total gain was €29.84.

w1010_forex

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

This account is still in extensive draw down in both AUDNZD and EURCHF, without any hope really to close this in the short term. I feel that AUDNZD probably will range between 1.29-1.31 until NZ raises their interest rate to match the AUD, which could be 6-12 months from now. EURCHF actually looks quite bad now, the euro isn’t doing well, and with the PIGS doing worse and worse this could explode. I have stopped opening of new positions in EURCHF. MegaDroid had quite a slow week at this account with just four trades for a total of 29 pips. Total gain over the week was $78.81.

w1010_cfx

The Collective FX. Trades MegaDroid and Green EA.

Again, a lot of the profit is from manual buy trades in AUDNZD, but some is actually sells by Green as I have extended the trading range to 1.3020 here. MegaDroid was extremely slow on this account with just 1 trade of 10 pips this week. I find it strange that it performs worse than at Forex.com/UK. Total gain was $112.01.

That gives a total gain over the week of $231.70. Not bad, but both my main accounts are still in deep drawdown and could face some serious trouble if AUDNZD breaks the new historical high of 1.3120. Also negative swap is accumulating quickly now that the full grid is traded. But at least it looks a little bit better this week than last. I see a tendency that the market pushes AUDNZD downwards as long as there’s no news released (that favor the AUD). It seems that some people are willing to buy the AUD at this price, but not to hold it. Lets hope I’m right as this would probably mean a trading range of 1.29-1.31 for the coming months.

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