My experiences with FX Autotrading a live account

F

FX245

Hi,

In the spirit of winning by sharing and learning by sharing I start this thread to publish the experiences & results of trading a live account with FX Auto. Your feedback & input is more then welcome.

Let me start to say that I'm quite new to the complete forex business - I even have very little experience in investing in stocks or other financial instruments ... in fact untill 3/3/7 I didn't even know of the existence of FX. The few savings I have are on a savings account (making an impressive 4% per year), and a bit in some index funds (even loosing money on that over the last 10 years). You can already tell that my financial IQ needs some catching up ... and that's what I'm working on right now.

On 3/3/7 a friend introduced me to the Fx market, and explained the existence of managed accounts, where people could make me + 60% per year - that's a bit more then the 4% I was used to... So he got my attention immediately, and since then I have been reading, learning & studying Fx.

The cut a long story short, after 10 weeks I'm still fascinated by the Fx-opportunities and decided to get my feet wet and try out trading with some real money on a live account. Since I don't have time to spend to much time on trading (although quite some midnight oil has been burned already), I decided to try out automated trading with FX auto.

I plan to share my experiences with fx-auto here on a regular basis, and look forward to your constructive feedback.

Cheers, FX245.
 
On 9APR07 I started playing with a demo account. Look at the portfolio & results in the attached jpg.

Some simple conclusions:
- 4 weeks is to short to judge a signal
- past is not a guarantee for the future
- don't over leverage your account

I based my selection of signals on:
- profit factor
- pips per trade
- start date
- number of trades

So big winners, with a track record:
- Izaklab- AUDJPY
- AIAnalytics-NeuroFX- EURUSD
- GFS-Wizard-GBPJPY
- fxmaster.net- EURUSD
- Ubertrading.com-EURJPY
- Quants-MiniMac-EURJPY
- Quants-Carnival-EURJPY
- HYPER-FX-GBPUSD

... but also with serious drawdowns ....

all in all, an overleveraged and very risky portfolio of signals ....

an interesting learning system ...

later I set up 3 demo systems, and played with different signals & portfolio's .... don't forget to look at the "current open positions per system" ... very interesting to get a good feeling of the different risk levels these different signals come with ...

Start with a demo account - or 3

Cheers, FX245
 

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So last week I started a live account. Filled in the paper work to open an account with FXDD, and all the rest. Faxed it over. and then funded my account $1.000 through paypal and $5.000 through bank wire.

So starting balance is $6.000.

At the same time I continued my research to find the appropriate signals to start trading on ...

That's where our friend Minelli from "Forex Signal Providers - Journal" (http://minnelli.com/forex/) was a good help.
I started to analyse his selection of signals and liked 1 of his 4: Forex Fighter KO GBPUSD - so that's the first signal I added to my signal-portfolio.

See attached the equitycurve for Forex Fighter KO GBPUSD from august2006 till may2007: overall a steady curve with some serious ups and downs, but a solid 80% return in <10 months with a 1:10 leverage (0.1 lot on $1000 demo account).

So that's the first signal.

Cheers, FX245
 

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The second signal I added, was one that I was very happy with during the demo account period: FXmaster.net EURUSD

characteristics:
- Looks like a reliable player. (own forum back active) http://www.fxmaster.net/
- Encountered them in some forex forums.
- Signal provider to fx-auto for more then a year
- Uses a stop loss of -80 pips consistently
- Solid performance of 150% in 15 months on a 1:10 leverage (0.1 lot on a $1000 demo account)

So that's my 2-nd Signal.

Anyone some experience with trading with FXmaster.net ??

Cheers, FX245
 

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The third signal(s) I added to my fx-auto portfolio was Ubertrading.com EURJPY & GBPUSD.

ALthough they hardly have a functional website (http://www.ubertrading.com/), they have some interesting characteristics:
- providing signals to fx-auto for 10 months.
- high winratio
- small loosers
- they take only a couple of trades per month
- the equity curve is good: 200% in 10 months (with 0.1 los on both symbols for a $1000 account - this is a big leverage - watch out they trade up to 6 positions at a time !)

Look at the curve.

What do think ? sensible choice ?

Cheers, FX245
 

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Just that you know - I'm in no way affiliated or related to fx-auto - I'm just a new client of them reporting on the experience & results.

I can be contacted at forex245(at)gmail.com

Cheers, FX245
 
The fourth (and for the moment last) signal I added to my fx-auto portfolio is Quants-MP40 GBPJPY, the second best performing signal on fx-auto of the last 12 months.

Like all Quants signals this one is a more riskier on - possible big drawdowns ...
- this looks like a serious company (with telephone number and skype on the (ugly) website (someone should learn these signal providers to build decent websites ...) http://www.quantsfx.com/ doesn't work in firefox ..
- only active for 4 months on fx-auto
- this signal can take up to 4 positions (so watch your leverage).
- serious spread on the GBPJPY ..
- but still an impressive performance (see attachment) of 200% in 4 months (0.1 lots(possible 4 positions) for $1000)

Would you trade this signal ?

Cheers, FX245

forex245(at)gmail.com
 

Attachments

So here we are ... account funded with $ 6000 and 5 signals selected (all with 0.1 lots):
- ForexFighter-KO - GBPUSD
- fxmaster.net - EURUSD
- Quants-MP40 - GBPJPY
- Ubertrading.com - EURJPY
- Ubertrading.com - GBPUSD

this portfolio has a total leverage of 30.2:1 - that's pretty high ... just removing the 2 Ubertrading signals would bring that down to 10.1:1 - a more reasonable figure ... well ... let's see what happens ...

For the moment I'm using fixed lots, no need to use other money management types ....

So what would have happened if I had auto-traded this portfolio of signals since 1JAN2007 ? ... check out the attached equity curve ... $6000 on 1jan2007 would have been $10.600 according to this simulation ... that's much better then 4% per year on my savings account ... pff

Since 1jan2007 this portfolio would have done 247 trades (80 losers - that's 2/3 winners) and gained 5254 pips .... that about 2,5 trades per day, and on average winning 50 pips per day ...

This all sounds to good to be true ... let's see where this portfolio brings us ... Let's see ... if by 01OCT2007 this account is only close $10.000 it would be a miracle ...

Only time will tell ... I'll keep you posted.

Cheers, FX245

forex245(at)gmail.com
 

Attachments

last post for today is the daily statement of tuesday 15May2007 - see attached.

So far we have

closed trades:
-45 pips - ForexFighter-KO-GBPUSD

open trades:
-42 pips - fxmaster.net-EURUSD
+13 pips - ForexFighter-KO-GBPUSD

balance: 5954 (-0.8%)
equity: 5923

I'll keep you posted .. let me know what you think.

Cheers, FX245

forex245(at)gmail.com
 

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