TOP 10 ROBOTS / OANDA DEMO ACCT
Hi Guys!
This weekend I am showing the results of the Top 10 APP Robots using FXblue. In this first graphic I show a nice Floating profit of $1096. Notice also the Equity is $100,201.96 which encludes the sum of the Balance and the Floating profit for a very small profit. Although the Equity shows a small profit the Weekly Return, Monthly Return, and Profit Factor are all negative. This is because of the Floating Profit. If the open trades, creating the Floating Profit, would have been closed at the end of trading yesterday (Friday) the Weekly Return would have shown a positive 0.2% return and the Monthly Return would have been 0.3%. Not very impressive but it shows the account is making progress.
This final graphic shows the cumulative profit and loss of each of the currency pairs as a balance line. Note USDJPY shows a steady upward balance line. The red line EURJPY has been pointing in a downward direction over the last three days. Since this currency pair was still pointing down going into the close on Friday I have no confidence it will turn upward next week. For this reason I will replace this currency pair. The other two pairs have been flat for the last two days following a slight downward trend. This could be a sign they are about to turn upward so I will keep them in the portfolio. If they continue to move downward in the first few days of next week I may go ahead and replace them as well. I will have to wait and see!
As we go into the final three weeks of the year the performance of currency pairs may not perform well as the big speculative traders close out their losing trades for tax purposes. As a result we could see losses in our accounts, hopefully not! However, the good news is that in early January we could start seeing some nice profits in our accounts as the big speculative traders take the funds generated by closing out losing trades in December start to reinvest those funds into new positions.
I am still in the process of shaping this account into a profitable portfolio so I can use it in a live trading account. Trading is a process!
Alan,