Sunday, January 25, 2009

FxMarkets alone would have given better results

I currently have max trades set to one, but have three providers to choose from; FxMarkets, Scalpers Group and GBP$. I therefore dont get all the first trades of any, since I might be in a trade whilst the other is placing a new one.

Last week I posted about my next step; to change max trades to 2 but to remove all but one GBPJPY trader and add for example Aradi forex.

I therfore began to analyze which provider I should keep. Currently I have three; FxMarkets, Scalpers Group and GBP$. I therefore manually calculated which trades since 01.01.09 I would have caught if I had used only one provider. As I anticipated, GBP$ lost with only 256 pips, second came Scalpers group with 491 and the winner was FxMarkets with 837 pips.

What suprised me is that with my combination of three providers I only made 755 pips (besides the unfair loosing trade), which means I would have been better off having chosen only FxMarkets. I thought perhaps since I had my loosing trade open almost a week it dragged my pips down; I thereore looked again with trades only since 13.01.09 and the reults are as follows; GBP$ 75 pips, Scalpers group 354 pips, FxMarkets 662 pips and myself I made 644 pips.

I must keep an eye on this, but it might be worth scrapping my three providers and keeping only FxMarkets. and certainly if I want to add another (non GBPJPY) provider and change settings to 2 trades.

But who should I choose? GuruFx is already Characterized as risky and the DD of Aradi forex has grown to over 380 pips on a trade, besides he has now 316 pips DD but I didnt check to see if it is one or more trades.

2 comments:

  1. Hello! How is it going now, I hope everything is fine, please keep posting!

    Scott

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  2. I hope you didn't stick with FXMarkets....they just lost 40,000 pips!...totally wiping out months of profits in only a few days!...the trader got greedy and overtraded much to the demise of 900 traders who trusted him. Very sad.

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