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Weekly update, week 12

March 29th, 2010

Another interesting week. It is really addicting to watch the charts and account statements nowadays. EURCHF is still plummeting as a result of worries for the PIGS debt situation, and it will probably take a while to restore faith here. Especially since a lot of the debt had been hidden by sneaky bankers (in both the EU and the US). Makes us wonder if really everything is on the table now. But eventually there will be a resolution to the debt crisis, even if it means that some of the PIGS is forced out of the Euro.

AUDNZD seems to have recovered a bit (trading below 1.2850 right now), but I fear it is just temporarily since there really haven’t been any news out of NZ that is supporting a higher valuation of the NZD vs the strong AUD. I still fully expect the pair to trade in the upper range until the rate difference is reduced or even zero (right now the difference is 1.5%).

Other than the AUDNZD and EURCHF I’ve been manually trading a bit in EURCAD this week. The EUR is weak and the CAD is steaming which makes it quite easy to spot the trend. Check the accounts below.

w1012_alpariuk

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

Because of the EURCHF making a new historical low I’ve been adding funds to this account last week, two deposits of €200 each. That’s the big jumps in the graph. Other than that it was a good week up until the last trade Friday morning when MegaDroid took a SL of 97 (!!) pips. I don’t understand that it let it go so far, usually MD has a SL of about 35 pips, which is much more reasonable. Strange also that this was the only account that took the trade, which lost €67. Even with it the account made a nice €77.18 over the week.

w1012_forex

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

This account is still quite strained margin wise, so I added $500 to relieve it a little during the week. Most of the profits taken have been manual short positions closed in EURCHF (used as hedges for the long positions taken by Green). I also took some losses when closing manual long positions in AUDNZD. MegaDroid traded very slowly again on this account but at least managed to score $37.30. Total gain over the week was $143.76.

jfx_w1012

JadeFX live account. Trades Forex Shocker and MegaDroid.

This was the second week live with Jade FX with its new liquidity provider. I upped the lot sizes a little during the week, and it went very well. If it wasn’t Easter holiday this week I would up the lot sizes and add more charts, but because of the holiday I will wait another week. It seems the change of liquidity really have worked out great, also the new VPS is much better I think. It has twice the RAM and also I think it has much better CPU (it’s quad core now and probably faster too). Forex Shocker is doing very well, GBPUSD really shined this week, but since I only traded it with 0.05 lots it didn’t make too much money. MegaDroid also did very well when it traded with two full TP trades (10 pips each). Total gain was $57.57.

w1012_cfx

The Collective FX. Trades MegaDroid and Green.

The losses this week is closed long positions in AUDNZD, total of $166. With AUDNZD under 1.29 this account ins’t as strained anymore (but it’s no doubt in my mind that it will come back to 1.30-ish soon again, so I’m watching it of course). I made some quick dollars in EURCAD on friday, wish I had more time to actually trade that pair. It is very trendy and still volatile right now. MegaDroid only traded twice and for just 6.4 pips profit. It really doesn’t do very well at CFX. Don’t know why because the spread is reasonable in MD’s trading window. Total loss over the week was $54.67.

So, in total that is a gain over the week of $250.85. As I said above, this week is a holiday trading week and as such I will limit my scalping EAs. I will probably let them trade just Monday and Tuesday. Then I will only start them next Tuesday again. The Holidays can be terrible for scalpers.

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