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GoMarkets EA Portfolio Update

October 20th, 2011

As you may recall I entered the MyFXBook trading contest at GoMarkets that ran during September. It didn’t go very well, I lost 13%. I blamed the high spreads at GoMarkets partly (for my scalpers), but mostly the extreme turbulence we saw during the second half of the month. When the contest was over I started a new demo with GoMarkets in the same terminal, IE with the same settings. I choose a $5000 account this time thou, it is more realistic for me. Then I forgot about it, it is on a VPS over at SWVPS that I don’t use much anymore, but have payed for a year in advance.

I checked in yesterday. The account has exploded to about $11200, which equates to about 124% gained in 14 days. At first I thought that I had mistakenly started a $10000 demo, but after checking the trading history I can just say that the EAs in the account has made a great job during these weeks. The performance is not possible in a live account thou, because I forgot to adjust the lotsize of one of the EAs. It still used fixed 1.10 lots for trades, this number was based on the $50000 account size of the contest account. IE I have been taking 10 times the risk in this demo. The interesting thing is the gained pips thou, and in that respect this strategy (a midterm intraweek EURUSD strategy) have been doing very well with 6 trades resulting in 542 pips. I have corrected it to take 2% risk now, which is more realistic for a live trading environment.

All the other EAs have been doing great also, including my main scalper. I really can’t wait to get my money from JadeFX now so I can start a live account at Pepperstone (via cashbackforex of course for the kickback) and really get into this again.

Here’s the account (demo at GoMarkets): http://www.myfxbook.com/members/someguy/ea-portfolio-gomarkets/179700