PipBoxer July 2-6, ‘07 Weekly Results
Saturday, 7th July, 2007
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.