I’m sorry that it has been over a week since my last post! I have been going to therapy to help me to cope with this past Monday’s performance! I encouraged everyone to NOT trade during the holidays, but I guess the Forex still wanted to party.
I have also been increasingly frustrated with the spreads recently. On Thursday Fap Turbo went short on a currency, and as you may know you pay the spread when you buy…not when you sell. Anyhow, Fap Turbo must have seen favorable spreads and sold the currency…then the spreads widened to about 22 pips! Fap Turbo pulled a gain of…I don’t know…18 pips or so, but I still lost money because of the spreads!
This past week wasn’t all bad though…I did make some good trades, and I am happy about that. In fact, I decided to record on of my live trades…that’s the video above…and I’m the handsome guy…thank you very much! Anyhow…I am very hopeful that the spreads will go back to normal this coming week.
[[Side Note: How about that Non-Farm Payroll thing! 632,000 people lost their jobs in December! Crazy times]]
The Bots Are Back In Town
The internet has been buzzing about the NEW forex robot that just came out…and guess what!! IT’S FREE! Wooohoooo! It’s called Forex Auto Scalper and it promises great gains.
I have been testing it on a $50,000 demo account (it’s nice to dream!) and it has made 3 trades. Two of the trades were for about 6% each! The main issue that I have at the moment is that it opened a trade BEFORE close on friday and is still open and in drawdown…i guess you get what you pay for!
Seriously, this looks like it does have some potential. I know some people tested it right as it came out and were miffed that it had losses…well, I think EVERYTHING had losses during the holidays, so it will be nice to see how it performs as things get back to normal…whatever normal is!
That’s right folks. Last week my live forex account had gained 10.4% and now it is down to 3.5%!
OK, I guess I am not really telling you the WHOLE story. Yes, my account was up last week 10.4% from $500 USD to $551.94. However, I decided to throw an extra $1,000 USD into the account today bringing my total to $1,551.94. So my total gain is still $51.94…but my percentage of gain is now 3.5%!
OK, please stop rolling your eyes at me!
Last week my live account did very well, so I decided to add a little more money into it. I am still using IBFX for my broker and have been having good success with them. I am currently trading these three currency pairs:
GBP/CHF. Gained $17.69
EUR/GBP. Gained $17.52
EUR/CHF. Gained $15.18
So, as you can see, GBP/CHF was the winner by a very slim amount. All of these pairs are running with FAP turbo money management set to “false.” Many people have been having success with it set to “true” but with my small $500 account it was only bringing returns of less than a dollar a day.
Oh yeah….one more thing. The VPS (Virtual Private Server) that I have been telling you about, ForexAlive, will be launching in the next couple of days, so if you are interested in it, go ahead and get your name on the list, because the spots are limited.
I haven’t checked my demo account in a few days. The last time I had checked it I was up from $3,000 USD to over $4,500 USD! WooHoo! I only wish that I could spend that virtual money! When I checked it again I was dismayed to see the account down to $3,500…what gives?? Well, I am glad you asked…
The silent and deadly EUR/USD long-term-monster had struck again! I tried to snap a picture of this fabled beast, but it came out blurry. I have posted results that show that the long-term-monster should be left alone…but I was lured by it’s sweet blue eyes…and then it struck. Two losing trades of $500 each. I guess it’s a good thing it was only a demo!
The Live Account
So, how is my live account going? Just fine, thank you!
I put $500 in last week and started trading. I changed my strategy a few times and by the end of the week I was up 1.5% or…$7.50. I changed my strategy again over the weekend and now I am up another $7.50 but after only one night of trading. I think I am going to leave the settings here for a while.
All in all, 3% in a week’s time isn’t too shabby…still not enough though to convince my wife to let me have more funds to play with. But, that should come soon enough.
The Upcoming Guide
Someone tracked me down last week and asked if I would put together a short guide to help people set up FAP Turbo. It seems that some people have better things to do than pour over my blog and the forum! So, I am not making any promises, but I did start to outline the steps to set everything up. I will try to make it as straight-forward as possible, so whomever would decide to purchase this guide would not have to go through all of the trial and error that the rest of us experienced.
If anyone else is interested in such a guide please let me know, because I certainly am not going to put the effort into it if no one cares
Anyhow…I am very hopeful that the spreads will go back to normal this coming week.
