i have been running this expert advisor or auto trading robot on my forex demo account over the past one month

so far, it is showing promising signs, you may review the performance in the following link (updated very 5 minutes)

http://www.mojostock.com/metatrader4stats-mojotrader.php

over the past one month, this account is up >30%, from starting capital of USD3000 to currently more than USD4000

you can see some of the latest performance in the attached chart but to review all the historical performance, you may click the link above.

rooney

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it was a tougher day to trade as market was a bit choppy

by the time the mojo technical indicators flashed a sell signal around 1.6405 for gbpusd, the pair had already slided down quite a fair bit right before that. so i decided to short on smaller position at 1.6407.

10 minutes into the trade, the pair held up pretty well and eurusd started to rebound strongly (bear in mind eurusd has a positive correlation to gbpusd) so i decided to close my short position for gbpusd around 1.6399 and 1.6404 for a small profit of USD25.

thank god i did cos 10 minutes after i closed my short position, the gbpusd shot up like a rocket.

better have a small profit rather than a loss.

check point : up 0.3% for the 1st day of the month

November month performance was fantastic as the portfolio was up 48.58%, way above my target of 10% per month

Let’s see how the portfolio does in December.

rooney

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Glad to start the week on the right footing

Mojo technical signals flashed a short signal for GBPUSD around 1.6540 level today so i entered short position at 1.6539 (slower by 1 pip which cost me USD10 bucks man hehe)

anyway, pleased with the outcome as the pair struggled for about 10minutes before sliding down rapidly…..i am usually not very patient when it comes to trading forex so i prefer to trade shorter time frame. so far, i am quite comfortable with the mojo combo signals using 5minute chart.

as i rode the downward momentum, i started taking partial profits along the way and closed all positions within an hour for USD232 profit.

check point for today : up 3.2% for the day, up 48.6% for the month

see attached file for trades entered today

cheers

rooney

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Forex Trading Blog - up 4.7% for the day, up 43.9% for the month

Dear mojo friends

Would like to share my personal forex trading experience with those who are interested in forex trading in addition to stock trading.

I have started a live demo account with usd5000 capital and let’s see how far this demo account can grow to over time…..

or it may go the other way and go bust overtime.

So far this month has been a good month with accumulated profit to date for november at usd2197.34

(up 43.9% from usd5000 initial capital in october)…..definitely no complains bout that

Today’s trade was great as you can see in the attached file below.
I shorted gbpusd at 1.6673 today and gradually closed out all positions with a nice profit of usd325 for the day(up 4.7% for the day).

Will continue to update my trading performance when ever I have the time.

Mojo论坛的朋友们，

我希望在这里和大家分享我个人的外汇交易表现。

我已经开了一个新的模拟户口，本金为美金５０００。

看看我能够把本金提升到什么水平，当然我也有可能把所有钱亏掉。

从１１月初到目前为檢，我对整体表现相当满意，累积收入为美金２１９４

（较１０月份本金５０００元成 长了４３。９％）

在附件大家可以看到今天的表现不错，我在１．６６７３价位卖空gbpusd，之后陆续套利，

今天总收入为美金３２５(单天成长４．７％)。

我一旦有时间会继续向大家报告未来的外汇交易表现。

rooney

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Some of my friends asked me what i think of Singapore listed S chips, I shall do a brief writeup about my personal views :

Many of the S chips listed in Singapore are now trading at low PE (share price to EPS ratio) or near cash per share because :
1. Despite some signs that the global financial crisis may be over, recent reported financial results remain weak (eg profit continue to decline or margins have not recovered)

2. Confidence were badly shaken due to the accounting scandals or corporate governance issues affecting some S chips

Let’s look at the above 2 points separately.

Point 1 - this is a more general reason which can affect all companies, not just S-chips, so all we have to do is do more homework and analyze the financial results of the companies, and look for signs of recovery.  One of the early signals which I use sometimes is look for “sequential” earnings recovery, rather than year-on-year recovery.  Sequential means comparing the latest net profit (eg 3Q09) to that 3 months ago (eg 2Q09) and if you see the company profit improving due to better operating performance (rather than forex gains or unusual items like writebacks) than this is the first thing that will get my attention.

Point 2 -  i personally think that the entire S-chips sector have been “over-punished” by the actions of a few bad apples.  Bear in mind that be it accounting scandals or frauds or corporate governance issues, all these happen to all stock markets, even in Hong Kong and US stock markets.  But the interesting part is how the people “react” to it when it happens.

In Hong Kong, when you see certain negative news about the market, the press will just report it (usually in smaller column) and move on.   Hong Kong press seldom devote a large section of the newspaper to play up the issue.  In Singapore, I saw the press devoting half a page to highlight certain things and continue to highlight these issues for many days.  Doing it and over-doing it is a fine line…….. to me hong kong press just do it but singapore press may have over-done it.

If the press over-report certain negative aspects, then it will hit the core of investor confidence, that they will think ALL S-chips are bad and this will bring down the valuations of ALL S-chips.

In Hong Kong and even US, we have seen the press reporting certain fraud cases but they do not over-report it and quickly move on to other matters. Investors take these incidence as part and parcel of the stock market, fraud are things that have happened and will continue to happen in the financial markets.  One should not react as though it is incomprehensible that fraud can happen to listed companies in Singapore.  This is one of the possible reasons why the PE of china companies in hong kong has recovered much “faster” compared to those China companies PE in Singapore.  I use the word “faster” because HK listed china companies PE are usually higher than S-chips.

What’s done is done, so what to expect next for Singapore S-chips…..

If you look at the PE S-chips are at now ie trading 3 to 5x pe, these valuations to me are pre-ipo valuations and we know that pre-ipo valuations means High risk High returns.

These means “some” of the s-chips may yet blow up due to the high risk associated with but “some” who survive will give high returns later from the low valuation they are at now.  One good example would be an S-chip called Sinotel. The lowest price was around 7c (when EPS was about 10c) this means the stock was trading below 1x PE haha, we can laugh now in hind-sight.  But when smart money realize the rediculous under-valuation, the stock price start to recover and recently went to as high as 70c (10 bagger is the high return some pre-ipo projects may give).

So when we look at S-chips now, we should adopt they way PE (private equity) fund invest in pre-ipo project…..they expect high risks and high returns, so they DIVERSIFY.

PE fund usually try to go in at 2-4x pe before ipo and wait to make few baggers when the ipo goes through.

But if the ipo is stucked or failed, their money may go up in smoke.

So they usually try to spread their money evenly in a few projects such that as long as some make it, they will still make money at the end of the day.

In summary, look at s-chips as pre-ipo projects (high risk high return), and learn to diversify when you put money in s-chips with the expectation that some may still blow up in your face

Before I sign off, let’s not forget the quietly growing number of I-chips (Singapore listed Indonesia Owned) listed in Singapore share market and the “thrill” that they are giving us now………hmm sounds familiar eh

Happy Trading

Rooney

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For STI, the near term support is 2701. If price close below 2701 then short term correction would have set in and the next support level could be 65 simple moving average line around 2614.  Using longer time frame indicators such as 30 days MACD and 65 days stochastics, the medium and longer term signals for STI currently still points to uptrend.

For Dow Jones, the near term support is 9992. Both short term indicators for dow jones such as stochastics and w% have reached overbought zones and crossing down indicating possible short term correction.  Take note if dow jones close below 9992 in the next few days.  Near term support is around 9514 level using 65SMA.

For shortists, it’s time to watch out for those support levels when they are broken.

happy trading

rooney 

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many of them looks good in back testing but NOT in live trading, including megadriod or fap turbo which i have tried in live trading…..they may be many reasons to that but as long as it does not make money it is no good to me, period.

but all is not lost, i recently came across 2 expert advisors (EA) which seem to work well in LIVE trading mode, yes live. and in fact, i know someone who is using this successfully over the past 3 months.

here is the link to the live demo account using the EA :

http://www.mojostock.com/metatrader4stats-iwinfxtrader.php

we shall continue to monitor and see if it can be consistent at least over the next six months

so far, the return per month is not very high, around 2-3% per month, but hey, one should not be complaining since he does not have to do anything while the robot trades forex for him and more importantly, it ends up with NET PROFIT at the end of the month over the past 3 months. we still have to monitor it a while longer and see when during losing months, how bad can it be ie how big is the draw down.

cheers

rooney 

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Trading Course for Forex and Stocks

With so many trading courses available in the market these days, I do not blame you if you told me you may have a hard time deciding which courses to go for (assuming that you have decided to pay for any of them).

Before you decide to fork out a few thousand dollars for any trading couses, I think it is only fair that you do some research or review.  There are a few basic things to consider and help you decide which one to go for :

1. Try to find out about the course content and see if the course content is suitable relative to your current knowledge eg if you are completely new to forex or stock trading, then it is best that you pay a few hundred dollars to attend a basic course or spend some money on books before paying a few thousand dollars to attend an advance class. Unless the course is spreaded over few days covering basic to advance knowledge.

2. Try to get feedback from people who has attended the course, either through the internet or better still from someone you know.

3. Specifically for forex trading course, do they have any live demo account to show?

It is very easy for someone to show you a static chart and just say buy low and sell high.  But to show live demo trading is a bold and honest move.  I personally think this is one of the most effective way to evaluate if the course is good enough……no non-sense, let the results speak for itself !! Even though demo trade is not using real money but the trading is based on real live data.

4. Do they offer after sales service such as online Q&A session review or hand-holding trading live sessions together?

One particular course that I know of that has all of the above ie. suitable for beginners, has positive feedbacks, has live demo account plus after sales service such as msn contacts for Q&A is called SGI High Power Trading Course for Stocks and Forex.  Yes this is a two in one course where the strategies can be used for stock market and forex market.

This course is currently available only in Singapore but will soon be launched in Malaysia due to growing interests.  

I think in the market now there are very few courses that “dare” to show live demo trading account to prove whether what they teach actually works or not? In fact, some of the so called trainers DO NOT trade at all so what they teach is complete theory only.

So if you are seriously considering paying for a trading course in Singapore or Malaysia, check out  SGI High Power Trading Course……and of course, check out the live demo account first until you are completely satisfied with what you see!! If you have any questions about the course, let me know.

May the pips be with you

Cheers,

rooney

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Review of beta test results for auto trading robot (or expert advisor) Fapturbo Evolution

The Fap Turbo team invited four well known forex traders in the forex forum and forex trading community to test out the improved version of the automated forex trading system.

All of them used LIVE money to open an account with Swissbroker Dukascopy (FapTurbo Evolution can only be used on Dukascopy platform at the moment).

The Four Independent Traders invited by the Fapturbo Evolution creators are :

1.Chuck from a well-know forex trading forum, forexpeacearmy with over 20 years of forex experience

2.Donna, a female forex trader and well respected fapturbo community member

3. Avi, head developer of forex courses on the website, forex-trading-machine.com

4. Zeno, an independent Forex systems tester from 4xproject.com

Each of them are given a REAL money account to trade to test out the profitability of Fap Turbo Evolution.

And here are the results :

Trading results for ZENO (4xproject.com)

Deposited USD 10,000 on 10.06.2009

Balance as at 10.07.2009 USD 11,784  (+11.7%)

Report: http://fapturboevolution.com/zeno/zeno.htm

Trading results for AVI (forex-trading-machine.com)

Deposited USD 30,000 on 12.06.09

Balance as at 10.07.2009 USD 37,127  (+23%)

Report: http://fapturboevolution.com/avi/avi.htm

Trading results for DONNA (Donnaforex.com)

Deposited USD 10,000 on 4.06.2009
Balance as at 10.07.2009 USD 13,441.87 (+34%)

Statement Report : http://fapturboevolution.com/donna/donna.htm

Trading results for CHUCK (Forexpeacearmy.com)

Deposited USD 15,000 on 05.06.09
Balance as at 10.07.2009 USD 19,735.85 (+29%)

Statement Report : http://fapturboevolution.com/fpa/fpa2.htm

FAPTURBO EVOLUTION DEVELOPERS ACCOUNT

Deposited USD 90,000 on 15.06.2009  (several smaller deposits have been made up to 90k)
Balance as aat 10.07.2009 :  USD 117,369   (+30%)

Statement Report : http://fapturboevolution.com/steve/steve.htm

Conclusion on the results :

The results look pretty impressive because all accounts are profitable.

It is worth mentioning that fap turbo evolution actually works across multiple pairs of currencies so it is able to scalp few trades a day and still bring in net profit most of the time.

Some traders may agree that scalping is a mentally taxing game if you do it manually since you have to sit there day in day out and look for small profits.  In the long run, it may wear you down mentally.  With fap turbo evolution, even a newbie is able to scalp with help of the robot….that leaves us free time to do the things that we enjoy.

rooney

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Reviewing the latest forex auto trading robot - Fap Turbo Evolution

I have started to take a keen interest in auto trading robot (or expert advisors or EA as they are so-called) for the forex market over the past few months.  So when I goggled for review sites for EA, one of the most frequently mentioned EA or auto trading robots is called fap turbo evolution (which is supposed to be the improved version of fap turbo).

Some of the reviews related to the original fap turbo were that the robot was very effective initially but overtime, its performance has started to slip.  Part of the reasons for the deteriorating performance for the original fap turbo is that because the robot was so good at scalping for profits, some forex brokers resorted to unfair tactics such as tampering with the robot’s functionality, widening the currency spreads or increasing slippage in order to reduce the robot’s efficiency.  Some forex brokers do that because they trade against clients, which means that if you make money they lose money!!  As such, some forex brokers even ban clients who use good auto trading robots on their platforms.

Because of the deteriorating performance of fap turbo lately, another new trading robot called Forex Megadroid has jumped to prominence…….I just bought a copy of Forex Megadroid few days ago and started to test it in live account.  So far 2 winnings and 1 losing trade…….will talk about Forex Megadroid some other time.

Now, back to fap turbo evolution……

Over the past few months, the fap turbo team has been working hard to launch a new version that may help retail forex traders to stand a better chance in trading against unscrupulous forex traders (or bucket shops as they are called).

The end result is Fap Turbo Evolution………

Unlike the original FAP Turbo, the new and improved Fap Turbo Evolution is NOT meant for the Metatrader 4 (MT4) trading platform that many forex brokers are using but instead has been written specifically for a new platform at Dukascopy (Swiss broker) that has lower spreads, thus making it much more profitable for the trader as the broker takes less “commission” than competitive brokers offering larger spreads.

For those who may have this question in their mind “ Is Fap Turbo Evolution A Scam ?”

The answer is not likely, since it has been tested extensively with proven live results.  So far, Fap Turbo Evolution has been tested by several independent forex traders and all of them have reported impressive results starting with USD10,000 live accounts.  More on their trading results later on.

Like the original edition, FAP Turbo Evolution is a scalping EA or trading robot. It is designed to take small profits from the market on a consistent and daily basis.  This FAP Turbo Evolution is designed to spot specific times during the Asian session (early morning hours between 5am and 8am Hong Kong time) where volatility is low and very good risk/reward opportunities occur.  Fap Turbo Evolution mainly trades 3 major currency pairs: USD/CAD, EUR/GBP and EUR/CHF with consistent and profitable performances.

One possible downside to using Fap Turbo Evolution at the moment is that it is for serious traders only because :

a.you need a minimum USD10,000 to open an account with Dukascopy

b.you must be earning USD100,000 per annum

c.you must have a networth of USD10,000

The buzz regarding this new wealth generator has been impressive and it’s estimated that more than 100,000 traders will visit the new Fap Turbo Evolution website once it goes live. Unfortunately, they have decided to release just 2,000 copies and then they may not sell anymore. 

In fact, if you visit the website now www.fapturboevolution.com , it says “Sorry guys, we have sold almost all 2000 licenses and the doors are now closed because we need to see how the brokerage can deal with the signups and the workload to get each and every user setup.”

Do not fret if you cannot get your hands on Fap Turbo Evolution (costing about USD599), you can still opt for the original cheper version Fap Turbo (costing about USD100) which is still able to rake in profits, but make sure you do some research and get the right forex brokers to put your EA to work…..because forex brokers can make a difference to your end results, especially for scalping strategies which are dependent on stable and tight spreads.

Happy trading!

rooney

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