ExpertAdvisorTrading.com

It’s been a while since my last post about PipBoxer.  Well, I did give another try on the EA when I got the new version 2.0.6 in October 2007. My conclusion is PipBoxer failed to produce my expected results. My account balance was slashed by a third during this one and a half month period. So I decided to demote PipBoxer that is to trade it with only 2 pairs AUDUSD and GPBJPY and on my very small live account. I don’t expect a miracle here. Just to see how this EA will do over a longer run.

I just let my support period end without renewing. What’s the point of paying for “supports” for this still doubtful product.  

Drawdown continued into this week with my PipBoxer fx trading. 18 trades were closed with 9 wins and 9 losses and a net loss of $32.95. The account balance was at $8,163.01. Some open position loss remained.

I decided to switch off PipBoxer for the time being. I will wait for the new updated of the EA reportedly to be released shortly. I can’t help but be a little sceptical of PipBoxer although I will give the new version a try once it is released.

A dismal week for my forex trading using PipBoxer with a loss of $321.95 for the week. There were 18 trades closed with 11 wins against 7 losses. A SL on USDJPY almost accounted for the whole loss of the week. My account balance dip below $9,000 to $8,769.25. There are 6 opened trades with substantial floating profit.

I feel I urgently need to see some recovery or I will need to seriously reconsider PipBoxer as my FX trading tool.

A disappointing month for my PipBoxer FX trading with $1,225.9 loss for the month bringing my account balance down to $9 091.20.

There were 69 trades closed with a win:loss ratio of 50:19. The detailed statement of my Interbank FX account for August ‘07 can be viewed here.

There were quite a few trades that looked promising in the beginning but ended up at outright SLs. That prompted me to start adopting some manual interventions which turned out rather negative to the overall profitability.  Toward the end of the month, I adjusted the number of maximum open trades up from 10 to 15 to remove any restriction to Pipboxer maneuvering. I have yet to see the effect of this adjustment.

I’m disheartened a bit but will continue to let Pipboxer trade for a few more months.

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 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.

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.