ExpertAdvisorTrading.com

A great week for my forex trading using PipBoxer. A relatively inactive week with 11 trades closed. I had 9 wins against 2 losses but good profitability with a net profit of $226.29 for the week contributed by 1 long GBPJPY, 1 long EURUSD and 2 short USDCAD. The long GBPJPY almost hit the 574 pip TP with only 50 pips to go. I was tempted to close the trade manually which should have earned me double of the amount I actually earned on this trade.

My account balance now stands at $10,243.83. There are 8 opened trades with some floating profit.

I guess I’m regaining confidence on Pipboxer and have learnt how to live with its ups and downs. I’m enjoying my forex trading more now.

A preset file is a file that contains all the settings used or to be used with an expert advisor. It is very useful to have preset files since they allow us to safeguard our settings and also to be able to change various settings globally in 1 quick by loading different presets we may have saved. So we use preset files (files with an extension .set) to save and restore specific settings for an expert advisor.

You can access these files in the “Presets” folder which is in your “experts” folder.

To access your ea settings (once the ea is up on a chart), you can right click on a chart where you have your expert advisor, click on Expert Advisors and then on ‘Properties’, or simply click on your chart and press F7. You will have access to the expert settings (2nd tab page => Inputs).

On this tab page where you can change your expert’s parameters, you have 2 buttons on the right corner.

Load is used to ‘import’ the settings saved in a preset file, Save is to ‘export’ the current settings and save them to a file so you can ‘Load’ them again at any time. So preset files are not only a way to safeguard some settings you like for an expert, and retrieve them later, but also the quickest way to change settings on multiple charts / pairs since you can load the same or different preset file on each chart.

A bumpy week for my PipBoxer forex trading. Altogether 18 trades were closed with 13 wins against 5 losses and a net loss of $11. Earlier in the week the account balance went up to $10,314 only to make a sharp draw down to $9,852 when NZDUSD and USDJPY hit SLs. It then recovered back above $10,000 toward the end of the week.

My account balance now stands at $10,017.54. There are 2 opened trades with some floating profit.

I followed the policy to manually close or adjust SLs or TPs when I reckon substantial profits can be taken. In retrospect, the policy was not contributing to the profitability as I expected. There were a couple of occasions where I threw away potential gains due to premature profit taking. So this policy will be abandoned. I also went against a warning of the developer of Pipboxer by continue trading NZDUSD which resulted in some losses.

A better week for my PipBoxer forex trading. Altogether 18 trades were closed with 15 wins against 3 losses and a net profit of $70.11. Not as fantastic as some other weeks but enough to bring my account balance back above $10,000. The main problem was the 2 SLs hit by USDJPY which resulted in over $600 loss. I also wish PipBoxer did a better job in closing profit trades. During the week, I saw a short GBPUSD went to over $300 floating profit only to gain me $40 in the end when the pair reversed. With that bad experience, I decided later in the week to manually adjust SLs on a short AUDUSD and a short GBPUSD to secure over $200 profit each.

My account balance now stands at $10,028.54. There are 3 opened trades with some floating loss.

The developer of Pipboxer recognizes the poor performance of USDJPY lately but insists on trading the pair. You can read his post in a forum here. I will follow his guide to stick with the pair and see how it goes. I will from now follow the policy to manually close or adjust SLs or TPs when I reckon substantial profits can be taken. 

The second bad week for my PipBoxer forex trading. Altogether 19 trades were closed with 15 wins against 4 losses. The problem was all losses were straight SLs averaging -$210. I suffered a net loss of $279.27 for the week. My account balance now stands at $9,958.43. Only one opened trades with some floating loss.

To be fair, my server went down for about 15 hours on Wednesday. I don’t know how that affected my trades. It surely prevented me from open some trades and might also affect the money management system. 

Starting next week, I will adopt the new VAR settings suggested by PipBoxer developer. I’ll follow the “high risk” scheme. You can find more details here.

The detailed statement of my Interbank FX account for July ‘07 can be viewed here.

Altogether there were 81 trades closed with a win:loss ratio of 49:32. Not a bad set of numbers to start with. The problem was the SLs on 1 short USDCAD, 3 long USDJPY and 1 USDCHF which occurred on July 26 resulting in a sharp drawdown. Well, I guess this is part of the game of FX we have to live with.

During July I injected $9,000 to my account making the total fund deposited $10,000. I also adjusted VAR for AUDUSD to 3% leaving the rest at 2%.

With $521.46 profit for the month, my account balance now stands at 10 526.89. I did achieve my 5% account balance growth target but not in as a convincing fashion as I would like it to be.