Alan"s Money Blog

Jun 29, 2007

FXDD Auto: Update on my trades

Well, bad news, I just lost -120 pips :( . The trade was opened by EspritFX EUR/JPY. I have decided to remove them from my portfolio. I am getting tired of their negative performance. What makes it worse is that they opened the trade in a clear uptrend. My guess is that this is a mechanical trading system. It was trying to initiate a sell to possibly profit from the potential downswing (the EUR/JPY is at an all time high), but clearly it was a stupid trade which resulted in a loss of 120 pips!! Not cool for my account.

I have replaced EspritFX EUR/JPY with ATRChannel GBP/USD

That's all for now. I'll keep you guys posted.

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