Meta-Trader - Slow and Steady

Welcome back Meta-Traders.

It was a fine week in the land of the Forex Robots. Much time was spent digesting the new rules which affect US-based traders starting after the close of business next Friday October 15th.

Here's how I'm going to be affected:

1) My 2 live Forex.com accounts will be moved back to the US. Forex.com has provided a link to their new, US-compliant Metatrader.

2) My brand new live account with IamFX will be closed and transferred over to CMS Forex under the new rules.

I'm still debating whether I should take the CMS Forex Transfer or just close the account and get my money back.

Its probably a good thing that i'm being forced to comply with the new rules so I don't have any ongoing regulatory risk on my path to wealth building in Forex. I don't expect the new rules will have any negative affect on my systems, although I'm still evaluating the Q-Diamond's. Now onto the week's results.

The Megadroid twins had a fine week with Megadroid Demo picking up about 1% and sister Megadroid Live picking up about 2% for the week. The Megadroid equity curve is a thing of beauty (see above) and is now up 28.4% on the year. This system has had 21 consecutive profitable trades with a 94% winning rate and a profit factor of 2.73. This robot has a pretty good chance of meeting my 30% to 60% yearly profitability goal by year end. I'm overdue for some drawdown, so we'll see how it works out.

Atinalla #1 had a pretty good week with a huge 170 pip winner, then gave back about half over the remaining 2 days. Even so, this system is up an impressive 11% since starting it back on 7/29/2010. Unfortunately, this system is not compliant with the new NFA rules, and Daniel Fernandez over at Asirikuy has already provided some alternatives. I'll do some work on that over the weekend have have the first week's results on the new system for next week's post.

The Q-Diamond twins had a solid week also with Q-Aussie picking up about 1.8% for the week and Q-Diamond EUR/USD picking up just over 2% for the week. I'm getting to know these systems better, and i'm still not %100 clear on whether they will be affected by the no-hedging rules.

I have an interresting story to tell about my first week live trading with the scalpers on my new IamFX account. Unfortunately, i'm out of time, so check back later in the weekend for that.

Get out and make it a great day!