Alan"s Money Blog

May 30, 2007

Update on my adventures with FXDD Auto

Well folks here is what happened. I got greedy and overloaded my account with too many signal providers and the inevitable happened - one signal provider had a rough day and pounded my account into the ground with negative pips. I started with $490 USD and now I am down to $246. I did a few manual trades and gained roughly +70 pips on the GBP/JPY pair, but still the losses were greater than my gains. I've learned my lesson the hard way and from now on I'll stick to just a few profitable (as far as my research can tell) signal providers.

I'll keep you all updated as my adventures continue. Wish me luck :)

Take care everyone!

2 comments:

Brad said...

I have the demo set to $5000 equity and a full lot per trade, to simulate a $500 live account using minilots... and it's fast becoming obvious that we cant afford to trade more than 1 or 2 signals simulataneously and keep the account safe from margin calls starting with just $500.

Alan V said...

I fully agree with you! I found myself in the same predicament when I lost about $200 from my initial deposit because I had too many signal providers. Also, let's face it, the majority of the signal providers I've found to be big losers! Note that I have a REAL account not a demo account. Now I am back in the game and using only 2 signal providers. I guess I should update my readers on FXDD Auto. I'll do it when I get the chance. Thanks for your comment Brand!