If you want something done right, do it yourself

Last friday I was worried about 6 microlots of eur/usd that were opened against the trend.

Then monday morning it  was almost on par.
I did not miss the chance and I immediately changed the take profit values for the three positions. Even if I could end at +48 pips (about 7 euros), I saw that the situation was like in a rollercoaster; so I preferred to be safer than sorry and put crescent values, closing at 35 pips (about 5 euro).


If I didn’t close that position by myself, the signal would have close them at 7 pips each. Risking 80 euros to gain 5, is priceless…

ZuluTrade changes the Signal Provider’s compensation procedure

I just got an email from ZuluTrade: with immediate effect (but it is legal to unilaterally change the contract without notice?) Signal providers will get the money from the commission only if at the end of the month have a positive balance.
In theory this should discourage the bad SP, but in practice this will hit those “loser” SP with badly programmed expert advisor.
For example, I follow a SP with a win percentage of 7%. Just tell ZuluTrade to do the opposite, and that 7% of victory, is transformed into a stunning 93%!
Will they continue to send the signals without a financial incentive?
I doubt it…

What is the rollover

The other day I was worried about what would happen to hold a position open over the weekend.
I worried for nothing: on Monday, at the re-opening of the market, it was successful.
Since I wasn’t 100% sure that the broker didn’t take any commission, I went to see the statement.

AAAFX has a complicated formula to calculate the commission:

Swap = [lot size * (buying rate – selling rate)] / (365 * price)

What do this means? That for the weekend they took away 0.04 pips, not so much.

A position left open over the weekend

I noticed that a position between Yen and Pounds was left open. It was midnight, both the London and Tokyo market were closed. This position will be left open for the weekend, since it is not possible to close it: the market is closed. (Makes sense: who will buy the currency?)

Now there is a 14 pip gain, that means 1,31 euro, what will happen on monday? Usually, in the demo account that I managed for about two months, I saw that on monday morning the market is unstable, goes up and down like on a rollercoaster, not very funny.

Moreover, has been invested a microlot, that means 1000 pounds, but using a 100:1 leverage. That means that the broker used 10 pounds to buy 1000 pounds. To keep,  the position on hold for two weeks, the broker will pretend some commission?

I’ll discover that on monday.

The loss was largely recovered

I am at the end of the first week of the experiment.
The results were a little different from those I had obtained in simulation, as it had not been taken into account service fees and delays in order execution. In fact it is said that a few milliseconds will cost up to 100 million a year to a professional broker.

Here’s the chart for this week, also visible on my profile: