Much Ado About Nothing

Filed Under (Passing Thoughts) by Casey on 03-08-2009

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It’s already the 3 August 2009. And don’t really know what is happening with this new NFA ruling…

Seems to me it’s nothing more than just silly blah blah here and there. The only thing that was on everyone’s concern was the hedging rule.

Other than that… the limit order or even stop order limit is nothing more than stupid hyped up news. $hit… made me piss my pants for nothing.

Luckily… I was cool enough to wait for the outright news from each broker to come up with their announcment before I took any drastic action.

IBFX apparently was fined $250,000 I think it was for money laundering preventive measures rather than for this new hedging and FIFO ruling…

Whatever it is… IBFX has issued a press release that they comply with FIFO while keeping in tact all MT4 expert adviser’s function.

http://www.ibfx.com/company/newsmedia/pressrelease/2009/09_13.aspx

As for FXDD, I think their application is still under review… so no worries there. All’s well it ends well… I think….

Perfomances As Of End July 09

Filed Under (Performance) by Casey on 03-08-2009

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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

july09

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

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NFA ~ Please Let Me Put a Stop…

Filed Under (Journal) by Casey on 10-07-2009

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Man… if that title ever not sound right this would be it… Just two days ago, I wrote about how NFA new regulation is worrying. I got my worries confirmed.

But this piece of news came from Forex.com here. However… Forex.com confirmed that the no stop loss and limit order will not be affected if you are using their own trading platform FOREXTrader, which means that this no stop order and limit order regulation will effect MT4 platform traders…

While means automatic traders on MT4 is literally fu(ked… with a big capital F followed by you.

Funny though… they say the regulations does not all stop loss and limit order to be placed but yet they say they are complying to the regulations…. Does that makes sense to you?

But I am more concern about FXDD and IBFX then Forex.com…

This is what FXDD have to say on their press release

NFA Regulations

New York, (July 07, 2009)

By now you are probably well aware that NFA has made a new rule that prohibits US Forex Dealer Members from carrying customer accounts with opposing positions in the same account past the end of the trading day (“no –hedging”). The rule also requires all positions to be closed in historical order, otherwise known as ‘first in first out’ (FIFO). There has been wide speculation among user groups what these changes may bring, how they are going to affect the Metatrader platform, how automated trading scripts are going to be affected (Expert Advisors) and what retail trading is going to look like in the future.

The ‘No-Hedging’ rule has been in effect for over a month now and as many of you can attest most of the statements of “doom and gloom” have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers’ fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.

In the wake of all this speculation we at FXDD would like to assure you once again that we will do our best to make sure you can continue trading without having to worry about how things may change for you. We are working with the platform vendors, carefully examining all possible options, and working diligently with NFA on the progress of our membership. Our advice is not to make hasty assumptions based on the loose talk from people who spread rumors. If we are to make any further changes to our platforms we will make sure you are informed well in advance and you are given all possible options to consider. We will also try and keep you updated on a regular basis to let you know what our plans are.

I continue to wait and see….

NFA ~ New Ruling Might be Worrying

Filed Under (Journal) by Casey on 08-07-2009

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Since the first release of new regulations by the NFA on US brokers, I was a bit tad worried about my account with both IBFX and FXDD.

NFANFA is or had released these three new regulations…

* No Hedging
* First In First Out (FIFO)
* Not Allowing Stop Loss or Limit Order

Of all the three rulings release, it is the third rule that really got me really worried. But before I jump the guns… I had to find out what is it all about and what are the implications it will have on me. So I scour the internet and found this site is so far the best informative information about these new rulings.

FXStreet ~ Facing the New NFA Regulation

The articles and comments posted are and I believe to be big whale professional traders. Trading million dollar accounts. I am just an amateur trader.. small time punter, automatically trading the market, toying around with robots, which trade on mini and micro account with small amount of capital..

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Perfomances As Of End June 09

Filed Under (Performance) by Casey on 05-07-2009

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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…

June09

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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Forex Barometer

Filed Under (EA System) by Casey on 24-06-2009

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Before I begin this posts… I would like to offer my heartfelt gratitude and thanks to all those who has supported this site. By way of either donation or supporting/buying the original EA via my affiliate link… If it wasn’t for these kind gestures, I would have been able to write this post…

LTR_bowing_respectfully_bw

I bought into Forex Barometer two weeks ago with the donation and funds that I have gotten via my affiliate link… While it does not cover the whole cost, it does help. So many thanks to your contribution which made this post possible.

Let’s get on with my piece. My creative juice is pretty low at the moment. So I am going to make this as direct as as I can. Read the rest of this entry »

A Quick Wank is a NO-NO!

Filed Under (Journal, Performance) by Casey on 15-06-2009

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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…

Devil 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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Performance as of End May 09

Filed Under (Performance) by Casey on 04-06-2009

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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
Performance End May 09

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Rising Profits

Filed Under (EA System, Performance) by Casey on 19-05-2009

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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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Cyborg EA

Filed Under (EA System, Journal) by Casey on 08-05-2009

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I believe it is time to pay due respect to this EA…

Cyborg EA… what can I say. This is a new EA which has been very profitable for me. I have never given it enough hype eventhough I do mention it on my performance update… Come to think of it I have never tag this EA or have I?

Hmmm…

Anyway… this is an excellent EA. This is one of the EA which was forwarded to me… bless his soul. It is license… so I did my usual decomp magic and start using it.

And to date… or as of this writing… this is the result

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