As of 16:38 EST we had 3 closed trades and 2 open trades.
The Profit Club: GBPUSD 0 pips
ForexFighter-KO : GBPUSD – 37 pips
ATR Channel: -74 pips
Today: – 111 (-114 with commission)
Open positions: 2 different Long GBPUSB with ATR Channel -31 pips
Balance: $2502.50 (-$60)
As of 16:30 EST – they have successfully closed 2 trades:
USDCAD: .2 lots +29 pips +$5.18
EURUSD: .08 lots +14 pips +$1.12
2 open positions down: -$3.25
Ok with fx-auto I have selected 3 systems to run. I have limited the selection to only GBPUSD for right now.
System 1: ATRChannel – http://forexfiesta.com/systems_trend.htm
System 2: ForexFighterKO – http://www.forexfighter.com/
System 3: TheProfitClub – http://www.profits-club.com/?a=cust&page=performance
Friday the auto trading system started me out great. The ATRChannel system produced 2 early morning buy signals one at 1.9939 and the other at 1.9946. Both trades were up about 70-80 pips (sorry can’t watch all day), but finally closed out around lunchtime with a +26 and +30 profit. Now with fx-auto they charge a 1 pip commission so my net +54 – not a bad start. No other systems triggered, but ForexFighterKO did have open orders pending – the market never made it to the stops.
Equity = $2618.50
.1 lots of EURUSD netted 12 pips for $2.40 gain
Balance = $987.31 (with swaps etc…)
2 open positions down -$2.96
Equity = $984.35
At some point I will work out a nice format to publish this data. But for right now, lets live with it this way.
FXGURU.net requested I use Interbankfx as the broker. The setup was pretty simple, the standard issues with forgetting to send this or that form, but pretty painless. I funded this account with $985 because they had a credit card processing fee of $15 for a deposit between $500-1000.
This also was pretty simple but because I didn’t fill out the fx-auto power of attorney form they opened a standard forex account. It did take them about a day to fix the issue and get me the correct logon and password for the fx-auto platform. Because I has a demo account rolling I noticed the systems I wanted to trade were all up. The one day delay lost me 150 plus pips, but who is to say I would have really picked those systems in my real account. I was just happy to see the demo working. In this account I funded it with $2500 and they gave a nice 2.5% BONUS, so my starting capital here is $2562.50.
Earlier last week, around April 16, 2007 I started to review some trading strategies over on the Moneytec forum. I was trying to find an old system I placed up there a few years ago. However, they have cut some of the old posts out and I wasnâ€™t able to find it. So I made my way to the ForexFactory to poke around. I started reading posts about hedging and carry trades (lower risk stuff), but couldnâ€™t find anything interesting that would allow me to do my normal job and forget about the trades. I was looking for a simple system to maybe run once a night and forget about it. What I discovered I needed was a money manager – someone who didnâ€™t charge an arm and a leg and who would allow for LOW minimum account balance.
Here is what I came up with:
These guys allow a minimum of $500 and do charge an incentive fee of 20% and $1 per round turn on the trades. Veselin Spasov is the head manager and I think they have 4-5 guys on staff, but Iâ€™m not 100% sure. I will let you know who this goes.
http://www.fx-performance.com/ or http://www.fx-auto.com/
I opened and account with them because I could see validated trading results. They have like 50 systems you can trade automatically through FXDD. The system is called FX-AUTO. I will let you know what systems Iâ€™m using and the results. The minimum amount to start is $2500 – they do charge $1 per round turn on trades, but you do NOT have to pay $100s in monthly subscription signal fees. They do have a demo which I would recommend downloading and testing it out for yourself.
In a nutshell â€“ I graduated college as a double major with a BS in both Finance and Economics. I worked for Merrill Lynch, Citicorp/Citibank and a few other local banks as a broker. I finally got out of sales and migrated to a financial analyst for a few years until I finally found my way to the promised land of Information Technology. I went to graduate school work for a large company followed by a start-up then some government work after the .com bust and am currently at another start-up. Bottom line, I have no time to focus on trading or making it a living.
Ok a few years back (2003-2004) I tested a bunch of signal providers to â€“ bottom line â€“ no avail. Now, I know some people will say you didnâ€™t follow them long enough or you werenâ€™t capitalized properly. Point taken, but again for me they all didnâ€™t work. Whether they sent bad signals or had bad timing at 3:30 in the morning they just didnâ€™t work out.
In 2005 I tried the 5 minute forex system from Beau Diamond – but that was another system that just didnâ€™t work. Since that time many folks have had complaints about the system and he his no longer around to post the pivot point or trigger value â€“ whatever the term wasâ€¦
After that, I played around with my own system for a few months with Oanda. No matter how simple or complex I made the systems they all started out working but in the end just failed to work.
I will try and continue to update this blog and let you know how my new attempt at forex is coming along.
Back in 2003 and 2004 I tried a few forex signal providers which I have posted information below. Many of them are no longer in business and I feel most were just scams. However, now in 2007, I got the itch again and needed to jump in with both feet. I will update my journal/blog with my experiences and post my actual real money results.
Here is the old information – basically left here for the search engines…
NOTE – I have stopped updating this site!!!
Every provider I tried and every trader I traded with LOST me money. I blew out two trading account in a matter of 6 months. I know I’m being negative here, but the facts are the facts.
All I can say is good luck, I’ll keep this site up as a reference.
Good Luck Trading !!!
Here are some sites I have found for FOREX signals. Note I’m not recommending anybody and I think the prices are correct. I will work on setting up a table and actual try and get some independent results.
Click on the menu for details about each Forex Signal Provider.
FREE if trading with Forex-Ice under $5k – Daily signals
$110/month – Daily Signals
FREE – Daily Signals
$170/month – Longer Term Signals
FREE – Longer Term Signals
Hopefully he will hook the members up with a good fair trial and price.