As of 16:30 EST – none of the open trades were closed. I did notice the 2 open trades did have a large lose during the day. However the beauty of this system is my account is proportionally traded with all of their other account at InterbankFx. So any drawdown is minimal. I’m kind of liking the lower risk here.
2 open positions down: -$5.67 EURCHF is -72 pips and USDCAD +3
Balance: $994.06
Equity: $988.90
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)
Equity: $2471.50
Screenshot: http://minnelli.com/forex/fx-auto/
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
Balance: $993.26
Equity: $990.01
Screenshot: http://minnelli.com/forex/fxguru/
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.
Interbankfx (FXGURU)
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.
FXDD (Fx-Auto)
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 wasn’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 couldn’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 didn’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 I’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 I’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 – 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 – bottom line – no avail. Now, I know some people will say you didn’t follow them long enough or you weren’t capitalized properly. Point taken, but again for me they all didn’t work. Whether they sent bad signals or had bad timing at 3:30 in the morning they just didn’t work out.
In 2005 I tried the 5 minute forex system from Beau Diamond – but that was another system that just didn’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 – whatever the term was…
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.
http://www.forextips.com
$299/month
http://www.spotdesk.com
$250/month
http://www.forex-dts.com
FREE if trading with Forex-Ice under $5k – Daily signals
http://www.teamforex.com
$110/month – Daily Signals
http://www.ag-investments.com
FREE – Daily Signals
http://www.i-knowindices.com
$300/month
http://www.acetrader.com
$150/month
http://www.ltgfx.com
$100/month
http://www.kb-advisory.co.nz
$170/month – Longer Term Signals
http://www.fxtarmax.tk
FREE – Longer Term Signals
http://www.TheTradingConsultant.com
Hopefully he will hook the members up with a good fair trial and price.
http://www.thefinancials.com/vortex/Newsletter_CurrencySignals.html
$250/month
