Dividend Received

Filed Under (Performance) by Casey on 16-07-2010

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I thought that I would want to separate this with my monthly update. The closing and posting of my monthly update is mainly due to my forex rebate.

And as always, I promote CashBackForex. One of the many ways to receive my monthly ‘Dividend’ from forex. Now who says forex is dull.

Forex Rebate needs to be looked at separately when I put my EA to work. If my EA works well… I get dividend from it’s effort. When it does not do well, the effort from my robots will help compensate these times of need.

It’s a strategy that needs to be looked at as a whole, and much have been said in my report about this strategy. Like any company that looks at their dividend receive from stocks holdings. I look at forex rebate as dividend received and consolidate it to my total profits from Forex.

Now let me once again update to you the interesting impact on forex rebates.

Here is my FXOpen account taking into consideration of my rebates Read the rest of this entry »

Monthly Update ~ May 2010

Filed Under (Journal, Performance) by Casey on 08-06-2010

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Ok… Finally got my rebate in to close my month of May 2010.

Well… I still got hit in my Alpari… still my rebate keeps rocking it up.

I guess by now I should say… one should ignore my GoMarket account for the time being. Well.. for reason that I have already clearly mention in my previous post.

So… if I were to only look at my Alpari and FXOpen account. Taking into account only rebate from these account…

It will be as such…

Alpari May 2010

FXOpen May 2010

I must say I was not happy with my Alpari account and corrective action has been taken. So.. .I can only say that every little rebate helps.

Oh…. and of the main contributor to my down side of Forex Bling… which I have taken out of my account. It seems that it does not ‘Bling’ for me any longer. Sigghh… NEXT….

As for my FXOpen account…. My Lovely Megan seems to be making strands. Lovely 10% gain this month. But… I try not to speak too soon. Things could happen. And I hope that all the backtesting results proved that this strategy will hold for as long as it can.

So for the month of May… I am somewhat please. My aim for June will be to see if there is any other strategy I can employ to help recoup or rebuild my ailing Alpari account

Total Rebate Report

Filed Under (Journal) by Casey on 25-05-2010

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So far, there has not been any validation about the forex rebate strategy that I have posted about two months back. http://bestforexea.com/2010/03/casey-rebate-strategy/. All I have is just some small bits and pieces of details with regards to this strategy.

I had got an email feedback a few weeks ago that question the validity of my strategy. In summary he said that this strategy was not a valid strategy.

He wrote:
Your “rebate strategy” is not a valid strategy because you will never get a rebate that is greater than the Ask-Bid spread cost. Brokers are not stupid. You do not have an edge; only a discount per trade (which is still better than nothing).

Also, you need to make sure that you are not disadvantaged in any way because of being enrolled in a rebate program (or using an Introducing Broker). e.g. make sure that your Ask-Bid spreads are the same as non-rebate clients.

I did not reply his email because there does not seem to be any detail verification that what I was doing make sense. I believe what he meant in the first paragraph was regards to arbitraging the price. The edge that I was talking about was not that the rebate will give make it profitable because the spread can never be zero.

And I have to admit that I only did two to three post with regards to Forex Rebate. There wasn’t much detail with regard to the advantage of having Forex Rebate as part of ones trading strategy.

Hence, over the past few weeks, I have been busy writing up a report. A report to explain in detail what I did and the theory behind this strategy.

This strategy is not meant to make money independently. I believe it is meant to probably enhance ones trading bottomline.

If one were to see my live account, I have inserted a column and row which include my total rebate. From that table, one can see how it either improves my return or reduces my losses. However, that table does not include my detail transaction and how these rebate actually assisted me in improving my each of my forex account.

Well, after much thought and four months of actual results. I would like to release this report for all my viewers to download and read.

To download, please visit this page here. TOTAL FOREX REBATE STRATEGY REPORT

Once you have downloaded and read the report.  Your feedback on this report is very much appreciated.

Casey Rebate Strategy

Filed Under (Journal) by Casey on 30-03-2010

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Seeing how I have gotten my rebate for my months activity I though I will share this with you. I previously wrote about forex rebates (Rocking Rebate) and pointed out with obvious fact that rebate improves my profits.

Now I want to show you how by simply just creating some turnover on an account with small drawdowns and with a help of forex rebates, one can still come out profitable.

I will call this ‘Casey Rebate Strategy’. Since no one has ever documented this strategy. I believe I have right to claim this as my strategy. Until and unless someone points out to me that this strategy has been around for ages… I am claiming this to be mine… :)

I have already posted two very scalpy strategy on my FXOpen account. One is my Silly Scalper where I put 6 EA trading on only EURCHF and my Royal Rumble where I put 3 EA trading on 4 currency pair EURGBP, GBPCHF, USDCHF, USDCAD.

Read the rest of this entry »

Rocking Rebate

Filed Under (Performance) by Casey on 01-03-2010

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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)

What’s Up?

Filed Under (Journal) by Casey on 01-12-2009

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It has been awhile…

Over the past few weeks, I have achieved two milestones. One major and the other minor. One personal and the other business. One is going to be a hands full while the other is going to be pocket full (hopefully…)

Over the past few weeks I had been on the low radar screen. Anxiously awaiting for the day to come. And that day came to me on the 23 November 2009.

On that day, I became a Daddy again… :)

I had to welcome a 3.55kg bundle of joy into this world. And it was better than winning a lottery… having said that, winning a lottery would be a wonderful bonus.

Note: The image beside is not my kid… had to keep my private photos and business photo separate if you know what I mean…

Anyway, this was one great milestone for me this year. The more the reason I have to try to be successful in my journey into the forex world.

It was very unsettling for me, and this has made me ignore my trading or my EA at in the works. I have also been ignoring a lot of my emails which I really need to reply if not people would think that I am just a stuck up ar$ehole…

I hope those that have written to me will understand and I hope to reply all my emails as soon as I can.

Now… my second milestone was getting myself involve with forex rebates. I should have done this a long time ago. But…….. as they say, better late then never.

I had previously registered with CashBackForex.com a few weeks ago but never did anything about it until recently. I thought ‘Damn! Since I have already open a few accounts, I don’t intend to open another account with another broker’

However my thoughts were misplaced. It was misplace because I never took the time read or browse the site. Now even though I already have an Alpari account, I could actually register my account with CashBackForex.com. And this was done with a simple filling of a form and informing alpari about this.

Because of this transition, I had to close all my position and then close my MT4 platform until all the necessary transfer were done.

And this was completed just middle of last week.

So now… all I have to do is start changing diapers, continue with my EA trading and see how much rebate I can make from my trading account… :)