Loss since start -£125 (-909 pips)
Finally a week of decent profits, it could have been much better but to finish the week with a profit of 652 pips I am happy. The week started very well following the BOJ intervention and holding 5 USD/JPN long positions over the weekend, at one point I was up 1200 pips however this was lost over the remainder of the week mainly on the EUR/USD pairing which was up and down like a toilet seat all week.
The above image shows signal provider profits for the week. Ignoring Manual trading Richter was the most profitable signal provider, followed by climber SB and Forex Cruise Control. I have dropped SakoFX and Timo, these SP's have engaged in crazy trading on the EUR/USD pair during the week and are too risky to follow. FORABCD also had a very bad week.
It is becoming clear that there are very few signal providers who are both profitable and consistent over a sustained period. The number is fewer once stop losses are applied. A good signal provider will wait and make few trades during periods of extreme volatility as was the case last week, the SP's who are in it for short term gains and maximum commissions will go chasing and double down on bad trades. As it stands the only two signal providers I have confidence in are Forex Cruise control and ClimberSB.
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