If any one trading forex is not in any rebate program then you might not know what you are missing…

It took me one year of ignorant trading to realize how some small things will give you an edge when it comes to bottom line profits. It was pretty tedious to set up at first for me. And I started to get this going since the end of last year when I was trying to organize my account but I guess those efforts were not wasted…

I got my rebate from CashbackForex last week and I was like woo… It really helped me improve my profits for the month of February. (Will leave my February performance in another posts)

Last month I manage to get $43.93 in rebate for both my Alpari and FXOpen account which added about 0.73% to my profits.

Ok… so it’s peanuts. Still every cent counts!!!

But let’s take a closer look and see how I manage for each broker

Broker ————- Profit —————– Balance —–Rebate ————-Total Profits
Alpari ————- 98.14 (2.26%) —— 4,349.63 —– 17.34 (0.40%) — 115.48 (2.65%)
FXOpen ———– 91.76 (5.24%) —— 1,750.83 —– 26.59 (1.52%) — 118.35 (6.75%)

My FXOpen account seems to be glowing compared to my Alpari account and I can’t seem to do anything to it… but let’s just see how it will work out in time.

Looking at it in more depth, most of the rebates were coming from my scalping strategies. Just to give to you an idea… My silly scalper account made about 38 bucks on a 100 bucks account and my rebate was like adding another 10 bucks to it… almost 50% profit on a 100 bucks account…

Hmm………………. Interesting………….. mighty interesting………..

(Note: Alpari recently account that because their spread getting tighter, rebates cashback for Alpari has been reduced from 0.7 to 0.1 pips per round turn.. $hit!!! Still any rebate is better than no rebate at all)

So… what else can I say… I have still not successfully claimed my place in the automatic forex world. It is sad… really sad. But I can not give up.

After my ranting a few days ago. This is my forex position at the end of July 09

What was filled with hope ended with dismay… Four months of continuous lost. Not good… not good at all…

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It’s the time of the month again where I review my month end performances. But this time round I think I need to really look into this much more deeper. As June closes, it means half of the year has gone. So how did I fair? After numerous thoughts, and action change and philosophical ideals, did my performances changed?

Let’s have a look…

Last month I came out slightly better… and it seems that I am slowly moving out of the rut from a month end total lost of $417 in April to -$65 in May and profit of $20.90 in June 09. Just to note… I have to deduct $100 because I added another $100 into my FXDD account to start trading Forex Barometer.

Overall my last half month was a failure. I have taken myself back $225 from my objective to recoup my initial capital. I am really hoping to break even by the end of this year, which is my target and goal for 2009.

And once that is done, my target is to recoup my initial investments on buying all these forex EA by mid 2010. Subsequently start profiting after mid 2010.

Bold? I don’t know… but at least it’s a goal.

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It’s confession time. At times I like to have a quick wank at forex. It is becoming too often and very scary and I believe I need to see a doctor about it…

You see… last thurday I thought I could get away with a quick shot on profit with Cyborg EA. I mean… hey I seem to be getting quite a good winning streak on my IBFX account with Cyborg. So… why not…

The uttering of these two word ‘Why Not’ drew the devil inside of me. On top of that my chinese blood in me just had to scream ‘Punt! Punt! Punt! Punt!’

Gawd dang!! I am just sooooo weak…

I said to myself JUST one or two punt for that day. My luck could not be that bad right? I mean looking at how well Cyborg has been performing

So there I was… ok… maybe it wasn’t me. But somehow something happened and I move my risk level to 5% from my current 1% of my trading balance with Cyborg… ON ALL THREE CURRENCY PAIR!!

As the day have it… two trades were triggered at 0.56 lots on a $600 account balance going on a Martingale strategy on the first degree going up to 4.72 to the fourth degree!!

Who says this is not crazy risk, please raise up your hand?

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I was really procrastinating doing this update. I am so ashamed and do not want to accept the fact that May 09 was not as profitable as I wanted it to be.

Plainly… it was again due to stupidity. Sighh…. oh well… it needs to be done so that I can review previous month and correct it again this month.

Here is my result for end May 09

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It’s time to post something about this EA. I have not only demo tested this EA but have also put it live. So it’s worth to write something about it.

Gawd dang!! This is one good EA!!

I think I shall let these images do the talking… and me adding some comments here and there…

Now this image is a demo test on Alpari. I initially tested USDCAD and BLOODY HELL!!! Don’t you think this should go live?!? Well, my thoughts exactly… this went live of course..

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This deserve some attention… Forex Rising.

I have been demoing Forex Rising for quite a while now…. Ok it was just two weeks. The concept of forex rising still took to me, and thought I would try it on other pair. Everyone knows that EURGBP are very common. So common that spread are usually widen during asian hour. Have you ever notice FAPTurbo is getting very few trades on EURGBP?

Anyhuuu…. Because the concept of Forex Rising was so interesting.. I took it a step further to test it on two very or use to be popular currency pair. EURUSD and GBPUSD. Change the settings a bit… and what do you know.. I believe I found the perfect harmony.

This test was done, between 30 April 2009 to 19 May 2009 @ 0.1 lots. Apparently it only works well on my FXDD demo account. Tested on IBFX and it was shit! Going to retest this on Alpari and FXOpen, when I have enough computer resources to do so.

This test has made me $132.16. Sighh… if only it was real money.

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I started a new page title Demo Account and changed my Performance page title to Live Account.

This I hope would keep me more organize and more focus on testing some new and exotic EAs. Last month if it was ever a lesson learned is to keep things easy, focus and consistent. I am not sure if this will achieve it, but one things for sure. I can monitor it and keep myself accountable for all testing records that I put on my blog.

This I hope also will keep me from being too impulsive and start putting onto my Live account without clear reason to do so. Just because one EA starts to show good profit for a week does not mean that it should be straight away profitable when it is live.

Another thing is also to ensure the settings I am using on the demo will also be consistent when I put it live. Tweak only on demo and once I am satisfied, I will confirm the settings.

Pheww… I think I got everything settled for the time month.Well, except for FXOpen. I am still trying to confirm what EA I should put it in to test.

When I open an account with FXOpen, it was meant to reflect Alpari UK because of the fix spread. Just wanted to see if FXOpen can produce a better result. But…. unfortunately, I had to be dumb enough to opt for a standard account instead of a micro account which put a wrench into my plans for FXOpen this month.

So I shall take it easy with FXOpen… Sort out one thing at a time.

Again… hoping this will pan out well this month.

I really hesitated doing this performance review of my last months trading activity. Embarrassing… but it has to be done. The only way for me to move forward. With my game plan drafted. Now I need to start managing my robots properly.

Ha… it’s nice being the boss. I can kick and screw the EA if they are not performing for me

But I think I will treat these robot trading like soldiers. Beef them up during demo testing and then send them to war on my live account.

Ok… enough day dreaming. It’s time to count the casualties.

As of End March 08 this is my standing…

So sad… Took out my last two months profit Ouch!! 413.07

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Ok… it took some time but I have some results of comparison between these two EA.

As reported in my previous post, Reverse the Reverse and Dumb Way to Reverse . REMExpert could be an improvement to FAPTurbo after discovering that REMExpert build itself from FAPTurbo.

My live demo test started on the 16 April 2009 till to date 29 April 2009. And the summary result goes like this

REMExpert manage to pull in 253.4 pips with 36 trades taken while FAPTurbo manage to pull in 156.3pips with 27 trades taken.

Differences of 97.1pips at a trade differences of 9 trades.

Please note, in order to make as accurate as possible, I did not trade the extra currency pair which REMExpert can take.

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