Saturday, April 23, 2011

Back After Huge Losses

Ever since the Middle East unrest, I've been losing money non-stop to the point that my big test account dropped from over $11k to a bit over $3.2k.  I am back to rebuilding it in a hurry.  My goal is to recover the almost 63.37% I lost and make a profit before the year is over.  As I write this, the account is at $3,662.92, with an additional $109.03 in open trades.  To recover the money lost and get back to breakeven, I need to make 273% profits.  Nice challenge!

I will be using a mix of expert advisors and manual trading.  I will also be testing a bunch of other indicators, advisors and strategies in other demo accounts.  If they prove profitable, I'll look to incorporating them into the live account.

A full statement of the account can be found in this link.  It shows every single deposit, trade, etc.  You can also filter the results by week and other time frames.  For example, if you click on "stats", it will show you that we are averaging -4.1% weekly return and a -16.2% monthly return since we started this on November 2010.  Total failure!  However, if you filter it by week, you will see that we did 11.7% profit this week. Let's see if we can repeat that performance a few more times...  like 27 more times.

That's it for tonight.  I'll update you all next week.  Hopefully, it will be good news.

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