of course we want to show transparently and openly our results of the fully automated solutions (which we use).
Fully automatic trading does not mean - press the button and rest. It is important to do essential things like fundamental data, risk sentiment, market analysis etc. and then adjust the software to minimize the risk. In general, any software should be tested on demo accounts before using it with real money!
Division - FOREX | GOLD | SP500
What a bloodbath this week. Due to the recent lockdowns, all indices and gold went downhill massively. Which is negative for my SP500 and Gold settings (both are optimized for long). But of course this is a good thing - I've seen if my basic considerations fit.
In general, it was a week of challenges - difficult markets. With the FX account I had MyFXbook problems and changed the password. Stupid only if you don't do that on the Metatrader and wonder why no trades work out. What a pity - this has cost me certainly 0.5% profit with the FX account....
No trades were closed on the Gold Account. With a drawdown of 2.5%, however, this still looks absolutely within the limits and I expect gold prices to rise with the US economic stimulus package at the latest.
On SP500 account the drawdown displayed is not correct. The account is currently at 11% drawdown. I have set first small hedges to be on the safe side in case of possible gaps on the weekend. Otherwise : Of course the drawdown is now over 10% for the first time, but I'll take that into account for the week. It is important that the account is not in danger.
Gridmaster Forex: +1,09 % | Max DD 2,49 %,
Gridmaster Gold: no trades - currently about 2.5% drawdown
Gridmaster SP500: +1,40% | Max DD 12,00%
There will be no trading until after the US elections.
My conclusion of the week:
I wish you maximum success in the new trading week!
Michael – Team PimpyourTrading