Loss since starting £138
Well finally I have ended the week with a profit of £39 and my overall loss is now £138. Still well behind but finally I am moving in the right direction.
The week started off well with steady gains been made by a number of signal providers then on Friday things went horribly wrong. The Bank of England surprised the market by announcing more QE than was predicted and a number of SP's jumped on the sell GBP v USD trade, which seemed pretty logical to me. What happened next was quite inexplicable, the GBP after dropping to 1.53 started to rise and it kept rising. I found myself well underwater on a number of positions and when the GBP/USD hit 1.562 I was in danger of my account blowing out completely. So I broke one of my rules and started to trade manually, doubling up on the sell GBP/USD trades once it hit 1.56, fortunately the market came back as expected and I finished the week on a high.
The following screenshot tells shows signal provider gains/losses for the week ended Saturday 8 October 11.
I have decided to drop fx178, a good provider but too risky for me. I don't have the capital to endure some of the losses on open positions.ccc12345678 has a couple of 100+pip open positions at the end week which will turn around his performance. The stand out performers for the week were Climber SB and FORABCD. I am happy with the trading styles of these 2 signal providers.
The following screenshot shows signal provider profits since starting. It is a depressing graphic, I think I need a drink.
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