By My Powers Combine

Filed Under (Journal) by Casey on 23-04-2010

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At the beginning of this year, I reorganized my accounts in such a way that I wanted to segregate my EAs to my live accounts. In order to monitor my performances especially with Alpari UK I split my $$$ into a few account with Alpari and FXOpen.

It was manageable at that time and seem to be going well but I suddenly realize that by doing so I wasn’t utilizing my margin accordingly OR rather effectively. Especially with my Alpari account. I was pulling only 2% on a 3% – 4% drawdown.

Most traders would say that is good… but somehow or rather I felt that it could be better. Secondly, I have to calculate the drawdown manually which makes the figure above very arbitrarily.

I am not all that great in calculating drawdown… so that figure might either be too high or to low.

I had thought that by segregating my account, I was in more control. But control of what? Managing multiple robots was the key to my objectives and monitoring the bottom line was my goal. And by having a few accounts, I was spread out, consolidating all these accounts using a spreadsheet kind messed up my calculations over the past few months.

At times I feel that I may be focusing too much on ensuring the my spreadsheets makes sense. And honestly… at times it does makes sense…. and at times it doesn’t every time when I close the month to see how I fair.

Depositing and withdrawing, opening and closing accounts really is a bit tricky.

Every traders were advice to keep a journal. For a manual trader it is great to have a journal to identify what when wrong in a trade and what went right with a trade. A journal which would help one improve on their trade.

As an automatic trader, keeping tab on my EA and the bottom line is the my way of ensuring what I had to do and what I am going to do in order to grow my profits while trying not to risk too much.

And my spreadsheet was the way… unfortunately… too many account means too many columns on my spreadsheet which means too complicated when I want to combine to see my account balance at the end of the every month.

So, I feel that it is the right time to change again. This time round, I will need to start re-organizing it in such a way that I am able to monitor my bottomline, my drawdowns, and of course my EA.

This weekend… I hope to start combining my accounts and use that a few tools that will help me get my act together once again.

I believe it’s going to be fun. It’s like running a business. Ever changing and managing to ensure the objective of the company is met… :)

While I will be keepingĀ  few account as it is especially Lovely Megan. I will be thinking of combining my Alpari account and probably take down the old myFXBook chart and set up a new myFXBook chart to follow up with.

Here are the screenshots from my Live Account page. As I will be taking down some charts, I thought of it would be interesting to keep these screenshot as a record for me to look back in the future.

I believe once I have done the consolidating part… Not only will I find control but also a good picture of my total performances.

Note: These screenshots are not linked to myFXBook charts.

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