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The first bad week for my PipBoxer forex trading. Altogether 24 trades were closed with 12 wins against 12 losses. I suffered a net loss of $829.93.

PipBoxer seemed to get bullish signals on most USD pairs an entered long USD trades early in the week. That’s where the disaster came from. On Thursday USD collapsed across the board taking most USD pairs to outright SLs. The 3 long USDJPY, 1 long USDCAD and 1 long USDCHF hit SLs. There were encouraging recoveries on Friday with a long USDCAD and a short NZDUSD hit TPs.

Not too bad to end the week with the late recoveries especially when the 8 opened trades are also showing a $202 floating profit. My account balance now stands at $10,237.70.

I don’t think this sharp drawdown indicate fundamental problems of PipBoxer. It’s one of those days in forex when things aren’t work the way you like. There’s still a fair chance for me to wrap July with the 5% equity growth target even though only 2 days trading left for the month.

Quite a hectic week with 21 trades closed by PipBoxer. A good 14:7 win:loss and a handsome net profit of $866.81for the week.

I’m not going to get into details here but just to say I’m totally satisfied with the performance of PipBoxer. The bot made good enters and has a very efficient Money Management system. Just one observation here. As mentioned before, I trade all 11 currency pairs and the diversification seemed to play a role here. EURCAD hit outright SL only to be made up and surpassed by outright TP in GBPUSD and USDJPY. 

At the end of the week, there remained 8 open positions with floating loss of $122. Given the past experience with PipBoxer, frankly I’m not too worried.

So my target of at least 5% growth per month has already been over-achieved. My account balance increased to $11,068 from $10,201 a week ago. May be I can start to be more aggressive.

This week 16 trades were closed by PipBoxer with a win:loss of 7:9 but still a net profit of $95.96. This was achieved because the profit trades averaged $51 while loss trades -$29.

The week started with a floating loss of $127 from open positions carried from the week before. It struggled in the beginning of the week but from the middle of the week loss positions started to get worked out. In fact, most of the trades were closed with the adjusted SLs or TPs. Only 2 trades (USDCHF, USDCAD) hit unadjusted TPs outright and one (EURUSD) hit unadjusted SL with roughly 200 pips gain and loss.  So PipBoxer built-in Money Management is playing a significant role here.

At the end of the week, there remained 7 open positions but this time with floating profit of $51. My account balance stands at $10201 againt $10105 a week before.

Somewhat similar results as a week earlier. Assuming this roughly 1% per week growth rate of account balance is achieved by the system consistently, my equity can be doubled in 70 weeks. Right now I trade all the 11 currency pairs with the same 2% VAR setting. I will evaluate performance of each pair after a period of time and may adjust VAR up or down for the pair. My target is to achieve at least 5% growth per month.

Here is a weekly summary of the results of my forex trading using PipBoxer.

This week 10 trades were closed by PipBoxer with 8 wins against 2 losses and a net profit of $99.43. Seven trades hit TP (take profit) and three hit SL (stop loss). You may wonder why I had 8 wins with 7 TPs. What happened was 2 SLs were actually profitable while 1 TP was a loss. Profitable SL or losing TP may sound illogical but this is precisely the beauty of PipBoxer. With the built in Money Management, SLs and TPs are dynamically adjusted to ensure profitable trades or to minimize loss. You can see the log of what exactly PipBoxer has done by clicking on the tab labeled “Expert” at the bottom of your MT4 trading platform.

I need to clarify here that during the course of last week, I adjusted the VAR from 1% to 2% and added $9,000 to my account making the total fund invested $10,000. I already mentioned the reasons why I need to do that in my last post. Together with previous profit, my account balance now stands at $10,104.86. Note that $19.5 was deducted by the broker’s bank as a money transfer fee.

Apart from the VAR adjustment and fund deposit, there was no intervention on my part to this automated fx trading system whatsoever. I only need to make sure the PC runs uninterrupted and the Internet connection is always up. The rest is PipBoxer’s job.

Ten trades remain open with some floating loss. I have witnessed how PipBoxer managed to turn losing trades into profit overall and expect similar results next week.