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Forex i007: Broker Comparison 1

Published on May 3, 2012, by in Update.

What broker is performing the best?

It’s a question that I get a lot and it’s quite hard to say one is better than another because what happens today may not be true tomorrow. The most frustrating thing about rating brokers is that their trading conditions change over time. What works today, may not work tomorrow. From my experience, I’ve seen good brokers go bad. Just remember that most brokers are not a True ECN Straight Through Processing exchange and as a result, brokers have a reason to short change you. From slippage, execution delays, server outages, and spread increases these tactics whether you like or not earns a significant bonus for the brokerage.

What I’ve done today is compared several popular FX brokerages that trade the signals from Forex i007. The statistics are only taken from yesterday’s performance but it still is enough to see the difference among the brokers. I’ve put in account the GMT offset from each brokers server and selected a 29 hour trading window which took place from GMT+0 May 2nd,2012 00:00 til May 3rd, 2012 05:00

    Forex i007 Broker Comparison

  • IBFX – Master Account – 41 trades – 307.7 pips no commission
  • Pepperstone Razor – 41 trades – 387.5 pips – commission($7rt)
  • Hotforex STP – 41 trades – 377 pips – commission($10rt)
  • Pepperstone Std – 41 trades – 362.4 pips no commission
  • Finfx Pro – 37 trades – 324 pips – commission($7rt)
  • ATC – 37 trades – 310.6 pips – commission($8rt)
  • ThinkForex – 40 trades – 299 pips no commission
  • ILQ – 37 trades – 284 pips no commission
  • PFG – 39 trades – 207.5 pips no commission

After considering commission fees, Pepperstone Standard account actually outperformed all the other brokers by a long shot. Through the last several months Pepperstone has been the most inconsistent broker because of the server outages, but yesterday must have been a solid connection and every signal was a success. Also when doing the GMT time adjustments and checking all the comments/magic numbers, I could have made a few mistakes. Overall its still interesting to see the comparison at the end of the day. In the past Thinkforex normally outperformed most brokers after considering the commission cost. Today, Thinkforex scored higher than most ECN + commission brokers besides pepperstone. ILQ and PFG are at the bottom where PFG high spreads caused over a 100 pip difference from the broker leaders.

I’ll try to do this every month since brokers often change! Thanks for reading.



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Forex i007 – April Performance

Published on May 3, 2012, by in Trading Session, Update.

9.9% Gain


100% Return on Investment in 6 months

    Market Condition Starting From Beginning of Month

  • Tight range with High of 1.3375
  • 5 day sell off after break out of range finding support at 1.3030
  • 5 day range with resistance at 1.3150, after 3 tests price breaks out to 1.3200
  • After high of 1.3200, finds supply zone and reverses to new low at 1.2995
  • Double bottom at 1.2995 with surge of buyers at demand zone, rallying 150 pips in London/US session to old resistance at 1.3150
  • Range bound while testing 1.3080- before retesting highs at 1.3200
  • A break of 1.3200 resulted in a 100 pip sell off before finding solid support at 1.3120
  • Bullish channel is formed near end of month, breaks range bound and finds resistance at 1.3250
  • Strategy – Range Bound –
  • Comment – Started with Break out to short side( Sell), then Buy positions entered after the 100 pip sell off. Buy positions were premature and resulted in a 10% drawdown most of the month eliminating new entries. We were left with half of the normal trading volume after most strategies were turned off after the 10% drawdown. Once the bullish channel formed, our drawdown reduced, strategies became active, and we closed all the positions out at profit to end the month near a 10% gain.

Learn more about Forex i007



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Hotforex no longer accepts US Citizens

Published on May 2, 2012, by in Update.

All open positions will be closed on June 5th and funds will be sent back via the method of payment.

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Forex i007 – March Performance

Published on April 1, 2012, by in Trading Session, Update.

6% Gain

From our March Outlook we’re right on track, just like we said.

    Market Condition Starting From Beginning of Month

  • Within High of 1.3385 and Low of 1.3000
  • 7 day selloff to low of 1.3000 with two retracements
  • At Low with 300 pip rally lasting several days with pullback to 1.3190
  • After pullback to 1.3190 , found support and rallied 150 pips in 8 hours
  • High of 1.3385 with 150 range, not retesting high
  • Support at 1.3250 with bullish move to 1.3375 ends the month
  • Strategy – Range Bound – Sell the Highs, and Buy the Lows with focus on BUY Trend
  • Comment – We started the month with a big loss and made several adjustments to stabilize the system to recover from the previous loss. Adjustments proved to be a success as losses were recovered and we ended the month in profit of 6%. The market offered many opportunities allowing us to choose our entry and exit which enabled us to close down the system before Friday, Two weeks in a Row. Our Goal was simply to recover the previous loss and end the month at a breakeven. We were rewarded with over 500 trades in March with 1400+ pips in profit. In all we made over 3000+ pips in March as we had to recover a 1600 pip loss in the first week

500+ trades in March



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Forex i007 – March Outlook

Published on March 3, 2012, by in Trading Session, Update.

Development

  • Margin Allocation – We allow new signals up to a certain margin level based on 50:1 leverage as this is the leverage limit for US Brokers. Once the margin level is reached new signals are prevented.
  • New Signal Allocation – Each strategy has their own signal and if there’s enough margin the signal enters. Each strategy is limited to number of allowed open positions. If the last signal is at a loss, another position is not allowed to open at the next signal. However, if the last position is in profit, another position is allowed to enter.
  • Lot Allocation – A Trending strategy enters a 0.01 lot , a ranging strategy enters a 0.02 lot, and a scalping strategy enters a 0.02 – 0.03 lot. Manual intervention enters a 0.1 lot.

Stoploss

Forex i007 isn’t a system where a tight stoploss is implemented. The success of this system comes from position management and diversification. Within the last two weeks, we’ve had a surge of momentum in a relatively short period of time. Over 250 pips Up within 48 hours, and another 300 pips Down within less than 48 hours. These large moves against our system shouldn’t have been enough to trigger our equity protection as our approach to position management enables us to manage large moves like these.

Dynamic Lotsize

In February we’ve updated our scalping logic and increased the position size without making the proper adjustment as a whole to follow our position management agenda. Over the weekend, we’ve changed order management to prevent our scalping system from engaging rapid entries and reduced the dynamic lotsize.

Directional

Forex i007 is also a directional system because of the US non hedging regulations. Therefore, if our ranging or scalping system is Selling, a Buy signal from any logic can not enter. As a result, one system enters the first position and the other trading systems are forced to follow this direction. In recent months, ( December + January) I used iDRAW ( a Trendline strategy based on manual technical analysis) as the first signal which chose the direction for the other systems. Therefore, I controlled the actual Support/ Resistance/Pivotal levels manually and the EA’s would trade within these boundaries.

Support/Resistance

Unfortunately, in February I did not intervene in any way and I let the EA’s choose the direction, S/R levels, etc all on its own. However, after the two recent losses and observing the current momentum I’ll need to resort back to my original plan of basing the direction on my Technical Analysis. Since I didn’t determine the Support and Resistance levels last week, Forex i007 was Short on EURUSD to about 1.3364 and once all the positions closed out at profit, the next signal was a Long signal which then controlled all the other strategies to only take a BUY Signal despite the lower highs.

Technical Analysis

I’ve made the necessary changes to get Forex i007 back on track and I’ll continue to use iDRAW for the long term technical analysis like as before. I’ve also included a Monthly chart of January and February trading activity, therefore you can see how Forex i007 is trading as a whole.

January

February

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Forex i007 – February Performance

Published on March 2, 2012, by in Trading Session, Update.

12% Gain

    Market Condition Starting From Beginning of Month

  • Within High of 1.3217 and Low of 1.3030
  • Double Bottom at 1.3030 with 200 pip rally to break new high
  • High of 1.3287 before 70 pip pullback to retest at 1.3217
  • New High of 1.3322 with significant pullback and retest of 1.2977 – 3 smaller retracements within pullback
  • Two Bullish Daily Bars with Market Gap Higher to 1.3236
  • 100 pip range with high of 1.3290 and low of 1.3180 for next 3 Daily Bars
  • 150 Daily Rally breaking previous high of 1.3320 followed by 130 pip rally to High of 1.3483
  • 120 pullback with Double Top at 1.3480 before 5 Bearish H4 Bars and retest of 1.3222
  • Strategy – Range Bound – Sell the Highs, and Buy the Lows.
  • Comment – Most of our Monthly profits were eaten up near the end of the month. Our system entered a high quantity of Sell positions that continued to build up during a slow non- volatile 100 pip range over a course of several days. When the next directional momentum moved against our sell positions, our trades were closed within our Equity Protection. Unfortunately, positions were closed at 1.3464 ( High 1.3485) while holding the positions over the weekend wasn’t an option with the G20 Meeting taking place.

Forex i007 Performance

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Forex i007 – January Performance

Published on March 2, 2012, by in Trading Session, Update.

28% Monthly Gain

    Market Condition starting from Beginning of Month

  • Largest Directional Move without retracement – 400 pips – 1.3060 to 1.2670
  • Double Bottom at 1.2666 with 200 Pip retracement to 1.2880
  • Recent Bottom of 1.2624 on Jan 13th, 2012 with 250 Pip Daily Bearish Bar
  • After Bottom, 5 Day Bullish Retacement with a 1 Day PullBack ( Friday ) With Market opening Gap to the Lower side and retest of 1.2880.
  • 180 Pips rally to 1.3050 with 100 pip pullback on H4 Bar
  • 150 pip rally to 1.3180 with 100 pip pullback on 2 H4 Bars
  • 180 Range with High at 1.3220 and Low at 1.3040
  • 400 Pips Range on EURUSD
  • Strategy – Follow Short Term Retracement until proven otherwise ( Resistance) Then Sell the Pullback.

forex i007 Performance

February

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Copy Me: FXjunction

Published on February 1, 2012, by in Update.

I haven’t looked into all the details, but it looks like another Open Book Copier like Etoro.

Fxjuntion adds widgets so now we can flaunt our verified gains online. Their widgets are nice looking. My widgets are recently hooked up to my automated signal service from Forex i007 EA

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EESFX Promotes Managed Accounts

Published on January 20, 2012, by in Update.

ELITE E SERVICES FX SYSTEMS

Their www.FXV1.Com system -

www.CurrencyBear.Com system http://www.mt4i.com/users/cbportfolio-
http://www.mt4i.com/users/cb2
CTA

Best VPS for Algorithmic Trading at US + UK Brokers


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Casey Stubbs Promotes Trader’s Contest with $25 entry Fee

Published on January 15, 2012, by in Update.

Umm ok. All for a chance at $2500 account at ILQ. Did you know that Myfxbook is promoting another trading contest with a a grand total of $4000 and by the way it’s free.. Sign up here!

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Plimus Drops Forex Vendors

Published on January 11, 2012, by in Update.

Wow. What a shock. First Click Bank enforces a new standard and now Plimus decides to dump Forex vendors completely. What does this mean for all the Commercial vendors? And, what is the next solution for easy payment processing? Look no further than Click2Sell. I’ve been using Click2Sell for almost a year now and I’m satisfied with their customer service, payment processing, and their affiliate network. How did I hear about this? The vendors of Million Dollar Pips are releasing another Bot this month and I just received a news letter with their new affiliate details at Click2Sell since Plimus is no longer interested in Forex vendors ( probably because of the high rate of returns). How will the FX Community react to this change? Leave your comments below.



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Welcome to Pipinvestment

Published on December 10, 2011, by in Update.

It’s December and the currency markets are slowly going into a tight consolidation. Most Currencies will stall from here as the holiday’s ahead have most people packing their bags and taking the next 3 weeks off. Surprisingly those are the benefits of being a Forex trader, long term investor, and banker. Furthermore, this is also a perfect time to take a break from trading and wrap up some projects.

What we’ve accomplished in 2011

  1. iDRAW EA – Semi automated Trend Line Trading made simple
  2. Discipline Trader EA - Free Risk Management software for Metatrader 4
  3. 9 Months of profitable trading from April 2011 to Dec2011
  4. A completely painless signal service
  5. Access to Spreads on EURUSD as low as 0.6 w/comm. $2.50 STD Lot RT @ ILQ
  6. Many Forex scams uncovered
  7. Members can now download our iDRAW_Free_version and Discipline Trader EA from our website
  8. We suggested one Commercial EA that is still profitable and going strong
  9. You can follow us on Youtube and now our live trades on Twitter
  10. Website is functional and easier to navigate
  11. We finally started a news letter service – sign up today
  12. Launch of our Services – Check this out –

What can you expect in 2012

  1. iDRAW 1.5 EA
  2. Discipline Trader 1.2 EA
  3. Our latest EA – i007
  4. Automated Signal Service
  5. Managed Account Reviews and Listing Board
  6. More scam busting/warning
  7. And, another years worth of profitable Forex trading
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© Important Disclaimer: Pipinvestment provides a technical and support service. We are not registered or licensed trading advisors. We do not make trading suggestions to our visitors to buy or sell any particular Forex currency, security or any financial instrument. The expert advisors we provide are solely software algorithms used as an automated strategy that operates independently. Expert Advisors provide trading signals on their discretion and nothing more. Trading Is Risky: Possible Loss of Funds. Never trade with funds that you cannot afford to lose. All trading investments (Forex, stocks, options, futures, etc.) are risky. Never trade with borrowed funds or your life savings. Use only risk capital and always start with a risk-free DEMO account before using any real funds to trade. U.S. Government Required Disclaimer: Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS SITE, SUPPORT AND TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex market. Don't trade with money you can't afford to lose. This web site is neither a solicitation nor an offer to trade forex. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this site. The past performance of any trading system or methodology is not necessarily indicative of future results. Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency. Moreover, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and your position will be liquidated and you will be responsible for any resulting losses. Investors are recommended to lower exposure to risk by employing risk-reducing strategies such as 'stop-loss' or 'limit' orders. Pipinvestment will not be held responsible for the reliability or accuracy of the information available on this site. The content provided is put forward in good faith and believed to be accurate, however, there are no explicit or implicit warranties of accuracy or timeliness made by Pipinvestment.
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