Forex Signal Providers – Journal

Rick had a great idea when he asked if I take PayPal donations, because from his standpoint I probably saved him a $1000, by not investing in the Steinitz EA.

I do okay for myself with my day job, but according to Steinitz my net worth is only $750 and I’m bitc*ing over losing $850 of a $1000 investment in the Steinitz EA. This just came out of right field as I was offering to test 2.4 when it was ready. So I’m begging everyone to give me money since I can’t afford to feed my family or pay the mortgage now

Actually I do keep my forex money segregated, so sure if you or anyone wants to throw a few bucks at me I will reinvest it back into Forex – which in turn will keep my site running strong as I try new providers and strategies.

I also promise my contributors I will not use real money on the Steinitz EA 2.4 until the stop losses have been proven to work and the hedging strategies get worked out. I will keep you all posted with my LIVE statement updates once that starts…

Thanks in advance…if folks actually start contributing I will move the money back into to play.

Minnelli

Metatrader Expert Advisor: Steinitz HAS MTF EA v2.2 (ForexRobotTrader) – Thursday, July 19 we closed 3 more trades and our equity by another $19…As I stated yesterday I will stick with 2.31 – I have not started fully testing it yet. I may just stick with 2.2 until they come out with the next release. I’m not totally sure yet, but I do like the partial profit idea if it is working correctly. I have started to look at varying pairs and possibly not trading the JPY crosses, or maybe trade a little less in the these crosses. Today I did add nzdusd and audnzd.

So I am trading 15 pairs now: AUDCAD | AUDNZD | AUDUSD | CHFJPY | EURCHF | EURGBP | EURJPY | EURUSD | GBPCHF | GBPJPY| GBPUSD | NZDUSD | USDCAD | USDCHF | USDJPY

All .02 lots except for I just increased these 5 lower risk pairs to .03 lots: AUDUSD | EURCHF |  EURGBP | EURUSD | USDCHF

I still have my LIVE updating statement which will update every 5 minutes at: http://minnelli.com/forex/mystatement1.htm

Closed Trades:
Today: 3    for +$18.84
Week:  13  for +$71.88

Open Trades: 
9 Trades Open for -$52.81

Summary:
Balance: $1250.52
Equity: $1197.71 – about a dollar drop.

Weekly Summary
Date From – To = End Equity/Start Equity(Pct) | Trades Balance +/- Profit
July 8 – July 13 = $1127.33/1054.69 (6.8%) | 16 Trades $1178.64 +103.71
July 1 – July 6 = $1054.69 /1006.33 (4.8%)  | 17 Trades $1074.93 +68.60
*June 25 – June 29 = $1006.33/1000 (.6%) | 21 Trades -16 win 5 loss closed all trades in Ver 1.1
*starting balance on June 25 was $1000

Settings: Default Settings TF 1/6 | Lots=.02 and .03 on low risk | MM=false | Mini=false | Micro=true
15 pairs: AUDCAD | AUDNZD | AUDUSD | CHFJPY | EURCHF | EURGBP | EURJPY | EURUSD | GBPCHF | GBPJPY| GBPUSD | NZDUSD | USDCAD | USDCHF | USDJPY

FX GURU – As of Thursday, July 12 I have had enough. I have been in 3 losing positions for almost 2 months (May 17, 18 and 23rd). I am nearly 500 pips down each trade. I have sent InterbankFX my revocation of Limited Power of Attorney and Trading Authorization to remove FX GURU (Veselin Spasov) from trading my account and close all open positions. As of 5PM my account was not fully closed out but I did speak with an excellent lady in customer service about taking care of my trades and my account. She was even kind enough to call me back on my cell phone to help me close the trades sooner than waiting for my paperwork to clear. I hopefully will get my final statement tomorrow.

I have had no problems with FX Guru other than they let my losing trades run for almost two months. Folks have asked me if the performance on there site was accurate and I have said it is, but they don’t show all the pairs traded, and I haven’t seen anything about 1500 pips in USDCAD loses. If you want to try them out be cautious. I should have seen some of the smaller trades in the beginning let the loses run until they came back. That should have been the sign on the wall. However, I plowed forward praying it would come back. Now I am thankful I didn’t need to invest $10K, but rather I only lost about $250 in total. I will have the exact numbers later. Edited – exact loss was $243.84 on a $1000 account in less than 3 months.

FX GURU experiment is over!!!!

Closed Trades:
All were closed 3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
-$90.71
-$85.38
-$143.25
-$311.13 — Total Loss

Open Trades:
Never again

Summary:
Balance: $756.16
Equity: $756.16
Trades: 38
Wins: 31
Losses: 7
Biggest Win: $7.60
Biggest Loss: $143.25 on July 12th when I closed my accounts

*starting balance on April 29 was $1000 and ended on July 12 with only $756.16 ($243.84 loss)

FX GURU – As of Wednesday, July 11 we we still have the USDCAD trades are still hurting us bigtime. 2 positions almost down 500 pips each and the third is down around 400. I always though you were suppose to let the winners run and close the losers. These trades were open May 17, 18 and 23rd.

Closed Trades:
None

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
-$254.17

Summary:
Balance: $1067.29
Equity: $813.12
Trades: 35
Wins: 31
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – NOW over $280 drawdown!!!
*starting balance on April 29 was $1000

FX GURU – As of Tuesday, July 10 we we still have the USDCAD trades are still hurting us bigtime. 2 positions almost down 500 pips each and the third is down around 400. I always though you were suppose to let the winners run and close the losers. These trades were open May 17, 18 and 23rd.

Closed Trades:
None

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
-$254.33

Summary:
Balance: $1067.29
Equity: $812.96
Trades: 35
Wins: 31
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – NOW over $280 drawdown!!!
*starting balance on April 29 was $1000

FX GURU – As of Monday, July 9 we we still have the USDCAD trades are still hurting us bigtime. 2 positions almost down 500 pips each and the third is down around 400. I always though you were suppose to let the winners run and close the losers. These trades were open May 17, 18 and 23rd.

Closed Trades:
None

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
-$280.77

Summary:
Balance: $1067.29
Equity: $786.52
Trades: 35
Wins: 31
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – NOW over $280 drawdown!!!
*starting balance on April 29 was $1000

FX GURU – As of Friday, July 6 we closed a small winning trade but the USDCAD trades are still hurting us bigtime. 2 positions almost down 500 pips each and the third is down around 400. I always though you were suppose to let the winners run and close the losers. These trades were open May 17, 18 and 23rd.

Closed Trades:
+$2.15

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
and 1 more trade
-$286.64

Summary:
Balance: $1067.29
Equity: $780.65
Trades: 35
Wins: 31
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – NOW over $280 drawdown!!!
*starting balance on April 29 was $1000

FX GURU – As of Thursday, July 5 we closed a small winning trade but the USDCAD trades are still hurting us.

Closed Trades:
+$6.54

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
and 1 more trade
-$244.24

Summary:
Balance: $1065.14
Equity: $820.90
Trades: 34
Wins: 30
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – saw over $250 drawdown
*starting balance on April 29 was $1000

FX GURU – As of Tuesday, July 3 we closed nothing today and the open trades came back $40.

Closed Trades:
None

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
and 2 more new trades
-$218.43

Summary:
Balance: $1058.60
Equity: $800.53
Trades: 33
Wins: 29
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – saw over $250 drawdown
*starting balance on April 29 was $1000

FX GURU – As of Monday, July 2 we closed a profitable trade but the USDCAD still feel apart. We are down over $250 right now with open trades. I hope things get better, but this is real life, not just a dream and numbers on a web site.

Closed Trades:
1 +$7.13

Open Trades:
3 open – All LONG USDCAD (1.0985, 1.0953, 1.0871)
and 2 more new trades
-$258.07

Summary:
Balance: $1058.60
Equity: $800.53
Trades: 33
Wins: 29
Losses: 4
Biggest Win: $7.60
Biggest Loss: $1.50 but 3 open trades – saw over $250 drawdown
*starting balance on April 29 was $1000