The EA Rollercoaster

Two days ago my account was up 40%, today it is only 6% up.   There were 3 trades that the robot opened with the same currency and for some reason didn't automatically close out at break even.  Lets have a look:

 

 

 

You can see the 3 entries with the vertical lines and Ellipses on this hourly chart.  30 hours later there was plenty of opportunity to adjust the trade manually, close 1 trade in profit an 2 trades in the negative with a small loss.

 

Ultimately it's my fault.  My trading was going so well that I just set and forget and didn't bother to review open trades on my demo account and kept busy enjoying Europe while focusing on profits in my real account.

 

The challenge I'm having now is monitoring my real account and demo account.   It's easy to get overwhelmed and to get lazy. 

 

All in all still in the positive overall, a little disgruntled, but it's a good wake up call to stop spending time with hobby traders and focusing on trading on my own, streamlining my trading with both accounts.

 

All you can do when that happens is chalk it up as experience and learn from it.  For me it's a matter of figuring out an easier way to monitor multiple accounts and writing some safeguards for number of lots opened for one currency.

Managed Account Update

Here I am in my home town of Vienna Austria (Europe) , that's right, Europe, no Kangaroos in Austria, surfing the net and I thought I'd give an update on my managed forex account.

It has been a good month.  I'm back home and considering relocating.  I'm eating great meals, drinking amazing coffee, and enjoying lots of great Gelato and Sweets.  Trading is going well now that I'm rewriting a lot of Metatrader functionality and adding new functionality with custom indicators and expert advisors, allowing me to fine tune my Managed Forex Account.

As you may know, my managed account was off to a rocky start as it was unattended.  That's the thing about these Expert Advisors and Too Good To Be True Robots, they work for a short time and then they bomb.  Why?  Because you need human interaction.  Thanks to my custom Metatrader code I now spend about 20 minutes a day, an hour max and do a daily review of the charts and then for the most part "Set and Forget". Although when I do check the charts I'm typically exiting a trade early, in the positive of course, and missing out on a few extra pips.  But that's how it goes.

In any event, it has been about 3 weeks since my last update and I'm up 40% this month thus far.  The latest up-to-date numbers are below.

Walk The Walk

A couple of months ago I set up a Managed Account and shared my results on MyFxBook.   It has been up and down.  That's the real world for you.  

The real deal is that you can't just walk away from a managed service.  And you gotta be careful with anyone offering a pie in the sky real service with results too good to be true.  "Past Performance is not indicative of future results."

If you have a closer look at my results you'll find that some strategies and currencies performed better than others.  One strategy in particular has been constantly making gains.  Others have not.   Not a problem.   I have updated the Managed EA and will review again in a month.

This is the real world.   When you get knocked down, you get back up.  And you learn from experience.   All that matters are the results.

Managed Accounts

Those of you following my blog know I'm not a fan of managed accounts.  At least not anyone else's. haha.    Seriously though, I find managed accounts for the most part are pie in the sky.   I believe in semi-automated trading. 

For the last year I have been experimenting with a managed account and have had great positive results.

I finally had a chance to open an account at MyFxBook, and quite frankly love their Android App. 

Have a look at https://www.myfxbook.com/portfolio/forex-taurus-managed-1/1245795 and take a look at my managed account for yourself.

*** UPDATE JUNE 29 2015***

The first couple months were up and down.  Not exactly a home run start, however it's the real deal.
If you have a closer look you'll find that some strategies and currencies performed better than others.  One strategy in particular has been constantly making gains.  Others have not.  Not a problem.   I have updated the Managed EA and will review again in a month.