My experiences with FX Autotrading a live account

Quote from igor00:

Hi,

I am too close ATR_Channel gbp/usd at 112 pips. On other cases i close better. In this beginning of auto trading we all we begin to get experince of trade, chose system, manual close, belive of this, then get drawdown... The first my step will be choose system by this drawdows and profit, so i loss about 300 pips on ForexGear usd/jpy, and on other systems, but i have 0.2 lot at ATR_channel gbp/usd and still balance about zero loss (but may be will get profit, then ATR_Channel will get loss)

The system of FX245 is may be one of the best, that we can use on FXDD_Auto.
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I Igor,

Thanks for your input & comments !

Why don't you start yourself a thread with your trading journal ? Would be very interested to follow your adventures in more detail...

Only time will tell which approach/portfolio is the best ..

You are right that auto-trading is a great way to learn how the forex market works ... interesting journey ..

Cheers.
 
Quote from FX245:
HI Igor,

Why don't you start yourself a thread with your trading journal ? Would be very interested to follow your adventures in more detail...
More...

It is good for me right now, if i don't hurd to you. And if i have something to say, i can say. You leadership at right moment is good, becouse you choose right system and don't change you opinion. At my blog it will be like monolog of my mistakes.

Quote from FX245:

You are right that auto-trading is a great way to learn how the forex market works ... interesting journey ..

Cheers.
More...

For me it is expiriece with different systems, not learning, but the better learning of couse is learn at worked systems.
 
fx-auto makes a good point about not matching performance by manually closing trades. However, it is what I needed to do to make me feel comfortable. Which is important in trading. You have to be happy with your choices.

But now that I have a cushion I think I will let the trades roll a little more. In fact, I watched the atr trades yesterday and they kept moving their stops more and more profitable. In fact on the USDCHF I think the stop was moved up to around +50 before they closed it out themselves at +79. It did give me that warm fuzzy feeling that they weren't going to let the trade go completely south. It appeared to have good stop management.

But let's see how I feel after losing 3-4 in a row :)

Minnelli
 
Hi,
You have made the 3 most crucial decisions that is why your account is in postive balance:
1. Restricted / Limited Strategy Flipping
2. Conservative Leverage.
3. Risk Averse Portfolio - (i.e not all strategy in same pair)

The worst thing you can do now is become overconfident, double your lot size and lose all your gains.
Play the patient game and you will stand a much higher success rate.
 
daily statement of 05JUN2007 - see attached.

We had a negative day today: -49

3 closed trades:
-86 fxmaster.net EURUSD
+79 pips Quants-MP40 GBPJPY
-44 ForexFighter-KO GBPUSD

No open trades
starting balance: 6000 (14MAY2007)
current balance: 6231(+3.9%)
current equity: 6231 (+3.9%)

still feeling confident.
 

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today looks like it will be a good day - more later..

since I'm a visual person, I like to look at equity graphs, since they show me how bumpy/save the ride has been so far...

see attached.

I'm enjoying the ride :cool:
 

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daily statement of 06JUN2007 - see attached.

We had a very good day today: +105

2 closed trades:
+56 +51 Quants-MP40 GBPJPY

No open trades
starting balance: 6000 (14MAY2007)
current balance: 6337(+5.6% - new high)
current equity: 6337 (+5.6%)

Quants-MP40 GBPJPY has been the best performing signal so far: + $351

fxmaster.net is the only signal in my prtfolio with a negative result so far: - $235

excellent week so far.
 

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My experiences with fx-auto so far have been very positive - I'm learning a lot by live auto-trading, by keeping this thread going and by receiving so much interesting feedback & input - very encouraging.

If there is one thing I would like to suggest that fx-auto could do to dramatically increase the value of their services, then it would be to provide much more information & statistics on the different signals.

I just spend the best part of my evening doing an xls-analysis of just 1 of my signals: ATRChannel_GBPUSD. - See attached.

In this analysis you'll find the following simple statistics:
-total number of trades
-start date
-end date
-number of trading days
-average number of trades per day
-number of profitable trades
-number of loosing trades
-win %
-win/loss ratio
-Average trade length (days)
-average number of trades open at any -time
-max positions advertised
-Total Commission
-Total Net profit
-biggest winning trade
-biggest loosing trade
-average net per trade
-average net per winning trade
-average net per loosing trade

plus a visual analysis of the cumulative results & the individual trades...

This kind of analysis allows me to decide which are the best signals to add/keep in my portfolio ...

In fact, what I'm looking for is the stats like C2 provides them here http://www.collective2.com/cgi-perl/systems.mpl?want=publicdetails&systemid=24212883
they have very details stats here (overkill): http://www.collective2.com/cgi-perl/systems.mpl?want=stats&systemid=24212883
all explained in this 51 pages pdf : http://www.collective2.com/c2StatsGuide.pdf

I did try out C2 with a demo account, but their system is for me just to complicated and their website very complex ... I like the "KISS U" principle: Keep It Simple, Sophisticated & Uniform .. Fx-auto is today Simple & Uniform (commission is always 1 pip), and adding some good usefull stats would make it also more sophisticated ...

just my 2 pence...

Cheers.
 

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In case you haven't noticed yet .. I like charts & stats ... that's probably one of the things that attracts me to fx and auto-trading (the possibility to make a excellent $ roi plays a small role as well ):)

attached you'll find the overview of my first 16 trading days on fx-auto ... in there you will also find an estimation of the compound annual return, both in percentages & in $'s. If I average the projected annual returns of the last 8 days (the first days don't say much ...) then my forecasted return after 12 months is somewhere between 36% & 42%, that means that my initial investment of $6000 would have grown to somewhere between $8000 & $8500... that's 10 times what I would get on my savings account .... :D

Now I have a question ... what percentage of your savings would you invest in high-risk investments like the fx? what is the general rule here ?
 

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New kid on the block (new signal on fx-auto) that I'm following to possibly add to my portfolio:

Team Aphid Bird

http://teamaphid.com/home.html http://teamaphid.com/TAB_results.html
http://www.collective2.com/cgi-perl/systems.mpl?want=publicdetails
their (verified since jan2007 on C2) track record looks impressive.

they took a bit of a false start on fx-auto : http://www.fx-performance.com/Default.aspx?p=1&t=1&paging=1:0:0&sorting=2:1&filter=Team-Aphid
Team Aphid was formed in 2004 by a group of passionate traders from the ForexFactory Forums: http://www.forexfactory.com/showthread.php?t=12808

I just don't understand why so many signal providers don't give basic contact information on their website like address, telephone, email, name of principals, ... What are they all hiding for ??? why do people in the fx world behave so secretly and hide behind (ugly) websites & anonymous forum discussions ?? Why is this ?
 

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