Weekly update, Week 18
Boy this was a turbulent week. I’ve come out on top for now in my manual trades and Green really have been helped by the decline in AUDNZD that followed the rate decision from the RBA on Tuesday. The huge drop in EURCHF as SNB stopped selling CHF at a fixed rate sure didn’t thou. Two of my accounts (Alpari UK and Forex.com/UK) is in deep drawdown now with a majority from it in long EURCHF and some is trapped in EURCHF hedges put in too late (IE price have reversed since opened).
Total gain over the week was $2033.47.
Alpari UK live micro account. Trades FAP Turbo, MegaDroid and Green.
According to plan I only traded scalpers on Monday and Tuesday, becuase of the NFP, but unfortunatly on Tuesday MegaDroid default and -1 chart hit one stoploss each here for a €70 hit. That is the first bump in the chart. Most of the action of course came from the huge movements in both AUDNZD and EURCHF. The drawdown from long EURCHF trades is critical now at about €900. I have placed some hedges, but it is tricky to do manually and it is hard to know when to close them, but in this case I had no choice of course. Total gain was €180.29
Forex.com/UK live account. Trades MegaDroid and Green.
This account was hit by the MegaDroid GMT -1 trade, but stayed out of the default trade. Good I guess. Again the account is completely dominated by the movement in AUDNZD and EURCHF. Most of the profits are from closed AUDNZD trades and manual trades. The bump is a closed long AUDNZD hedge trade. I only have about $1500 in free margin thanks to the EURCHF right now. Total gain was $785.55.
JadeFX live account. Trades FAP Turbo, MegaDroid and Forex Shocker.
As I closed down all scalpers after just two days this account didn’t see much trades, but the ones taken was good. I also used reduced risk, after the losses these past weeks, so the actual gain was not too impressive. Still I’m glad to see it avoid any major losses. Total gain was $55.97.
The Collective FX live account. Trades MegaDroid, Forex Shocker, Forex Harvester and Green.
This was my first week trading Forex Harvester, and it did real good. It is quite nice to have a scalper that trades Sunday nights now to give you good news when you wake up Monday morning. Hopefully good news that is. The bump is, again, closed AUDNZD hedges. This account really cashed in on the volatility of the AUDNZD and Green closed 183 trades in total. 70 of them on Friday when the price really jumped around. This account has about $5000 in equity, and is in the best shape out of the three trading Green AUDNZD and EURCHF. Total gain was $966.59.
Hi someguy,
Great overall profits on the accounts for this week.
I wondered whether or not you were interested in possibly selling the EA that you developed - “Green” I believe its called. If you do (or want to be *very* generous and send it free), then send me an email to mucker_shaan@hotmail.com. Don’t worry if you don’t want to sell it or anything.
Today I took a huge loss of 50% of my account by using a free Martingale EA called Blessing 3. It gave good profits a few days ago last week - ~£50 quid profit each day, but then it tanked and gave me a -£200 loss today - halving my account.
I need to find a nice stable EA that just quietly ticks over per day with low profits but low drawdown and stop losses. An EA like this probably doesn’t exist though! I’ve tried 2 Martingale EA’s with price averaging now and both of them have done a lot of harm.
This weekend I’m going to go back to the drawing board with everything. Finalise three or four non-correlated currencies for trading, open forex accounts with minimum spreads, decide on a few robots to concentrate on, and fix some strategies and rules in place.
Anyway - happy trading..
Hi Matt.
I have been thinking about selling EAs when they reach some kind of production level, a level that I think Green has had for quite some time now actually. I had some (2-3 only) mails about buying it just when I started it live. I don’t know how to go about such a thing thou. I’ll start checking possibilities… I am of course interested in making money on it somehow, not just sure about how much to charge or how to handle it. I probably don’t want to sell it for a one time amount, I would prefer a subscription or even a managed service. If I come to a point where I need testers I’ll get back to you
Ouch, 50% hurts. Alot. I’ve actually been there with my JadeFX account running bought scalpers. During September last year it went from a high of $923 to just $207 in two weeks. I was away traveling around China at the time so I didn’t intervene. Stupid of course to leave it trading unsupervised, but I’ve learned from it.
Sounds like an excellent approach to sit down and rethink your overall strategy. Personally I am trying to implement a diverse collection of EAs trading different strategies at multiple brokers. My idea is of course to spread risks, both strategy- and broker wise. I will be using both bought and homemade EAs. Currently the only homemade EA trading live is Green. Hopefully I have soon finished Blue (swingtrader) and Red (scalper) also. Generally my approach in those two projects is to trade rather seldom, only when conditions are right, which is quite hard. Green, as a grid or range trader, trades almost all the time but makes very little in each trade.
Bought products of course can be both good and really bad. Some of them are cheap enough too not write yourself (like MegaDroid), so it will save time and effort. My latest buy, Forex Harvester, seems very nice although I have only traded it for two weeks. But of course you can’t improve on it yourself and you often don’t have a deep insight into the strategy implemented.
Oh this was a long reply.
Happy trading.