This is probably the worst start of a week possible. First FAPT screwed up and left a EURCHF sell position open for 14 hours yesterday, closed with a loss €105 on my Alpari UK account. Luckily Megadroid did well yesterday and recovered most of that loss. Also MD made very nice returns on my Forex.com/UK account.
Well, today is another story… FAPT haven’t made anything basically (well, two orders with €3 profit…) but Megadroid, boy oh boy. It lost me €207 on Alpari UK and $356 (!!!) on Forex.com/UK. It will take weeks of good results to get this back. Crap.
So, other than loosing money it also seems that I lost MD Pro. For some reason I’m not connected to Donnaforex as a affiliate on my FAPT Evolution purchase yesterday (even thou I used her link). So right now it seems I’m not getting MD Pro. I’m talking to ClickBank and Donna. If this doesn’t get settled with me getting MD Pro I’m refunding. So tired of crap like this.
To sum it up. Right now I feel like just running RoboMiner (perhaps on FXCM/UK with their quite nice spreads on AUDNZD) and check in to that account once a month. Don’t even want to see a single $ loss right now. Crap.
Well, at least it did very well on my accounts this evening, night and morning. €18.52 profit at Alpari UK and $36.7 at Forex.com/UK during normal working hours. That doesn’t sound to impressive, but in addition to the automatic chart I run quite a few more as you know by now (using much lower risk settings). So total on Alpari UK was €73.7 and $92.5 on Forex.com/UK. That is almost about 9% profit, in one day.
I also trade in the afternoon with MD. Am I crazy? Well, it seems to work. I run a chart with GMT offset 14 (16 on Alpari UK with it’s GMT+2 timezone). Of course risk setting is low at 0.02.
One thing is still worrisome as MT4 regularly crashes with Forex.com/UK with MD running. I don’t know why, and it only seems to happen to my live account as MD is about to close a order. I’ve of course tried to re-install and talk to support (both at Forex.com/Uk and MD), but no one seems to have any ideas. I’m gonna try switching of the Stealth setting so that MD sets the correct T/P and S/L values. If/when it crashes at least the orders won’t drift off to far.
I am really excited about the new MD Pro that I hopefully have my hands on very soon. It is supposed to trade three pairs and look for scalping opportunities around the clock. Then I perhaps won’t need to run 12 charts of EURUSD anymore 
Update: Got six trades on the GMT 14 chart at Alpari UK and four on Forex.com/UK. All winners 
It seems that the true resistance for brent oil curde was $60. The market tried to push throu twice, but quickly got back over forming a “double bottom”, a pattern associated with a bullish break out. Well it seems the pattern proved correct. The price is right now above $61.50. Very interesting.
Silver is still in a down trend but I expect it to hit restistance soon too, so keep your eyes open.
Update: Seems the market didn’t listen to me (again). The next bar closed at 59,80. Well under the 20-SMA again and testing resistance again. Well see what happens. If it bounces that is a tripple bottom, which is very bullish. If if breaks, who knows where the bottom is. I’ll just wait and see. As of before I hold no positions in Oil at the moment.
Took out detailed reports for the week from my live accounts at Alpari UK (sporting FAP Turbo, MegaDroid and GridBot) and Forex.com/UK (only running MegaDroid). Not as nice as I hoped, with losses yesterday and today.
All in all, Alpari UK finished at a loss of €44.87 and Forex.com/UK at a profit of $66.87. That is basically a break even if you add it up… What a waste 
Alpari UK live account
Forex.com/UK live account
So, MegaDroid did well on both accounts. FAP Turbo did well on Alpari UK. So what is left? Well GridBot didn’t do well… Again it loses me money. I will really stop trading it this time thou. Next week I expect them to release the new version (2.9) and then I’ll test it again.
Time for a update since the release date of the new creation from FAP Turbo team is approaching, fast. It was called FAP Turbo Swiss the last time I wrote about it, now it is renamed FAP Turbo Evolution. It will be limited to 2000 copies. And it will be released on July 14th at 9am EST (that is 15:00 GMT I think…). The broker is still DukasCopy in Switzerland, which is currently accepting accounts with minimum of $10000 (or equivalent, say €7300 if you prefer the EUR). The price of the software is $599.
So, I will try to get a copy. It is four times the price of the most expensive EA I have bought and the deposit requirement is 7 times what I have put up yet, so it is quite a step up for my Forex “operation”. Hopefully it will meet my expectations…
As a side note I yesterday recieved a email from the MegaDroid team stating that everyone who use their link to buy FAPT Evolution will be getting a new EA from them, for free. It is a new version of the MegaDroid called MegaDroid PRO, and get this, it trades three currencies 24/5! I don’t know if I am more excited about that piece of news or the FAPT Evolution even! MegaDroid is a very stable performer, and I would love to be able to trade it on more than EURUSD. Also, because I currently am trading it 12 hours a day myself by tricking it, I know it can be profitable during more than the dead hours between NY close and Tokyo open. I don’t know if MD Pro is using MT4 or JFOREX platform thou… Would love it even more if it also ran JFOREX at DukasCopy.
Oh, and I almost forgot. There is a war going on between some sites online that offer rebates on the Dukascopy commissions. The top offer right now (and possibly this is where the limit is) is 40% back. Wow, that is quite a lot. Cashbackforex.com is currently “only” offering 35%, but their reputation perhaps make up the 5% they keep. I actually think so, and probably will sign with them.
Just a small update on the Gold, Silver and Oil sectors.
Gold Daily chart with 20-SMA.
Silver Daily chart with 20-SMA.
Brent (Oil) Daily chart with 20-SMA.
So, where do you think these commodities are heading? Yeah I think so too. You don’t even have to use any special indicators for this one. It is however interesting to spot support levels. I am guesstimating support for gold at $870, it held up there in April. For silver I am seeing $12 as S1 and crude is first $58 and second $50 if it breaks.
So what can stop this downward trend? Well rapport season starts now and there is the G8 meeting starting today. OPEC has stated that they think $70-$80 is ‘fair’ for crude, and I guess they will cut production if we stay at levels downwards of $60. As for silver it is highly connected to the recession and the bear market rally we have been experiencing. I don’t see it recovering. Gold is harder to predict, as it is very closely tied with the USD (which I have been shorting for ever now, but has been getting stronger…).
Found a very interesting piece by J.S Kim on a leaked trading software developed by Goldman Sachs. It can evidently be used to manipulate markets and make GS millions a year (according to the DA investigating the case). Kim speculates that GS is using it in the crude oil sector. And possibly also in stock markets, remember the low volume bear market rally as of late?
Read up here: http://seekingalpha.com/article/147260-goldman-sachs-thoughts-on-the-developing-stolen-trade-secrets-scandal
So, wouldn’t you like that EA? Unfortunately it probably is useless if you aren’t hooked up to COMEX directly and isn’t in possession of the kind of money GS is. But I bet that there are many financial institutions that are interested in getting the software now…
Update: Tyler Durden also covers the story: http://seekingalpha.com/article/147104-is-a-case-of-quant-trading-sabotage-about-to-destroy-goldman-sachs
I started thinking about a web application today that would publish the spreads of the top MetaTrader 4 brokers both in real time and with historical data. My idea was to open accounts at the interesting ones and run a small EA that recorded every tick to a database for further analysis by the web application. So I did a google search of course. It has been done before, partly.
Check it out, it is quite nice: http://www.onestepremoved.com/spreads.html
If I were to go ahead with my application anyhow it would include more bells and whistles. Most notably it would have spread history. I really would like to see the average spread over a definable time (like the Asian session) and a histogram of the distribution and so on. It would also be nice to see the rollover costs on the pair (some brokers take much more in swaps to be able to afford lower spreads). Also I would like to see some other brokers, like Forex.com/UK and CMSFX. But this one will do for now
Well, I don’t know about you, but I’m constantly looking for new robots to make me money. Lately this have reversed a little (since FD2 burned me), but there are two EAs I am considering to buy right now, besides the not yet released FAP Turbo Swiss (should be out by July 14th). They are RoboMiner and Joury EA.
I have run RoboMiner in a Alpari US demo for 6 weeks and at one point I really didn’t think it was working out for along time. It constantly had 10-12 trailing orders with quite large losses accumulated (at one point more than 25% of the account). But the market have reversed and RoboMiner have had a serious payday. During June (in the demo account) it made 38 trades in AUDNZD with profit and had one lingering with a running loss of €20. The total profit was around €800, or close to 15%. RoboMiner is a grid trader and it opens orders without stop loss. This can seem scary, but the thing is that the pair it trades, AUDNZD, is very range bound. The economies of Australia and New Zeeland are both very commodity heavy and they usually follow the same economic swings. This makes there currencies very nice to trade with a grid system (I’ve been trading it with GridBot EA also). The down side is the spread, at Alpari UK it is 20 pips. There are other brokers with lower, but I haven’t found anything lower than 14 pips. A very nice thing is that you can demo RoboMiner (and its bigger brother GT-Shadow) for free. The price is a whopping $495, but you can subscribe to it for $40 a month if you want. I’m considering the subscription. As for broker I think I’m going with Alpari UK because of the 1:500 leverge, with just 1:100 the margin is perhaps a bit to tight to fully trade this EA.
Joury EA is a quite different being than the slow and careful RoboMiner. I haven’t demo traded it but I have gotten input from people who do and who also trade it live. It is a completely mad system that takes many small positions, sometimes hedges them when the free margin is small and sometimes even re-hedge the hedge (like I said crazy). But it seems to work out. The gains are small but quite even. It can trade many pairs but the ones most profitable are GBPJPY, GBPUSD and CADUSD as I understand it. The cost is $197 and it is not a ClickBank product. This is actually why I haven’t bought it yet, I really enjoy the possibility to demo trade during the refund period and have the possibility to return the product if it doesn’t perform well.
I’ve finally opened and funded an account at Forex.com/UK, I will trade it parallel with my Alpari UK account as before. I will start out with just MegaDroid on it, but will get another license for GridBot eventually (when they release the hedging function). Forex.com/UK has somewhat higher spreads at EURUSD than Alpari UK (2-3 vs fixed 1.8), but Alpari UK is going to start offering floating spreads soon (perhaps July). I think this will mean higher spreads for EURUSD, but perhaps lower for GBPJPY, AUDNZD and the likes that now have quite high fixed spreads. Forex.com/UK is offering better spreads almost all the time in GridBots main pairs.
It is still my strategy to have 3-4 live accounts running at the same time, as a way to hopefully diversify enough to eliminate broker manipulation. I am currently running demo at FXCM/UK (I have applied for a live account there also, but haven’t funded it yet). FXCM/UK offers floating spreads with 5 decimals, but for some reason I don’t get my EAs (FAPT, MD and GD) to trade very well there (on the demo). Don’t know why. The spreads are low during the day, but about the same as Forex.com/UK during the Asian session.
I have a demo at MB Trading that is doing great with FAP Turbo (even in GBPCHF) but they’re still in Beta and isn’t accepting new live customers right now. They take commission, but the spreads are amazing.
I am also looking at FxOpen and FXDD, will start demos there soon. I think that FxOpen is more like Forex.com/UK and FXDD more like Alpari UK. Of course I wouldn’t open accounts without the cashback offered by cashbackforex.com, that’s like throwing money away.
On the FAPT Swiss side I’ve found a new website offering 33.33% rebate on commissions, but it isn’t as well known as cashbackforex.com so I don’t know if I’ll sign there yet. Cashbackforex is huge and old in the game, the chance they close down and stop paying you is minimal. The new site there’s no telling with of course. So I still recommend to sign with the 30% cashback. But sure, 11% more in the pocket is real money…
