Home > Forex > Weekly update, week 17

Weekly update, week 17

May 3rd, 2010

This is not funny but again my scalpers failed and my manual (and long term) strategies gained. I’m starting to see a pattern…

AUDNZD really is behaving strange I think as it has descended substantially towards the 1.27 level during last week.  gain by it, but I don’t understand the motivation for a 500 pips lower valuation now compared with just three weeks ago. In my view nothing new of worth has come out of either Australia or New Zealand to motivate this huge drop, that doesn’t even seem to be stopped yet. Tonight there is a new RBA meeting and it is expected that they hike the rate by another 0.25%. That should of course send the AUD higher, but who knows right now. Seems that the market isn’t expecting a rate increase (as prices have been falling) but still this is what analyst sentiment is indication. IE, what happens if the rate is untouched? Even more downwards movement? Or is it fully priced in all ready? I have no idea, I just trade my simple system right now. :)

Total gain over the week was $108.20.

w1017_alpariuk

Alpari UK live micro account. Trades FAP Turbo, MegaDroid and Green.

This account had a really bad start with losses by MegaDroid default and -1 charts on Monday and then another MegaDroid default stoploss on Thursday. In total these lost 125 pips, very hard to recover from, but luckily this setup almost managed too. FAP Turbo long term EURUSD again made nice profits taking 40 pips at a time. I’m contemplating in stepping up the lot size for this strategy (currently the minimum 0.01) as it really has proved itself over four months now. Total loss was €35.53.

w1017_forex

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

Just like last week most of the profits are from manual trading in AUDNZD (the strategy I’m trying to implement in my new EA Blue). But, for some reason, MegaDroid actually had a good week on this account taking down $62. It only produced winning trades and completely managed to stay out when it got hit by the stoplosses on the other accounts. Weird, but nice of course. Total gain was $300.48.

jfx_w1017

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

The mayhem on this account continued last week. In just two weeks I’ve gone from $2700 to below $2000 here. Scalping is terrible in the wrong market… Basically all the EAs got stoplosses. MegaDroid hit one (still good compared to Alpari UK), FAP Turbo hit one in EURGBP and Forex Shocker hit five (one in USDCHF, two in EURGBP and two in GBPUSD). I am taking a high risk in this account as it is my main scalping account, so of course it will sting now and then, but it is still really disturbing to see. Total loss was $329.53.

w1017_cfx

The Collective FX live account. Trades MegaDroid, Forex Shocker and Green.

Again the profits are from manual trades in AUDNZD. This account was also hit by the stoplosses by MegaDroid and Forex Shocker, but in a lesser degree than the JFX account and of course since it is traded with much less risk the total amount lost was far less. For example Forex Shocker managed to not take the trades in GBPUSD here that resulted in two stoplosses at JFX. Total gain was $184.51.

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