Meta-Trader - In Fed we Trust

Welcome back forex fans.

It was a huge week of news developments affecting the markets.

The US mid-term elections came on Tuesday and the Republicans took back the House of Representatives as expected. Score one for big business there.

The big news dropped on Wednesday when the US Fed delivered on weeks of speculation that they would create billions in reserves (with a mere book entry of course) to buy government issued debt. This was a major dollar negative and sent USD tanking versus all the majors.

The last shoe dropped on Friday with Non-Farm Payroll when the US Labor Dept reported that the private sector added 159K jobs in October versus expectations of just under 100K jobs added. They also provided upward revisions on prior month's numbers. This put the USD back on the advance and took back all of the dollars losses after the Fed report.

So what does all this mean for our money? Equites ripped higher inflating my stock portfolio about 2.8% for the week. How did our forex robots perform in this news-driven week?

Megadroid Demo and Megadroid Live picked were basically flat and picked up a pip or 2.

Turning in a nice performance was God's Gift Live which closed out a long EUR/USD trade opened just before last week's close for a 1.48% gain in a few days's time. This was a 148-pip gain and impressive given only 1% of the account was at risk. Later it the week, it went long GBP/USD and this trade closed out at about an 80-pip loss which reduced its gains to about 0.68% for the week. Gains were bigger than losses which is a good thing.

Next up was Atinalla No which took a pasting on the week and lost about -4.7%. I opened another demo account against FXDD trading this system, and it lost -7.8% on the week which was rough. But long term profitable systems have periods of drawdown, so this is well with expectations.

Next up was Atinalla No 3. We re-started this account after some parameter adjustments and it lost about -3% early in the week but closed with an 18-pip winner and went out long GBP/USD with a few pips open profit.

On the development side, funding of my new FXDD live account is nearly complete. I setup a new demo called FXDD Demo Twin Scalpers which trade Megadroid and ScalperX at an 0.05 risk level. This is a conservative setting considering we typically trade Megadroid with an 0.10 risk setting. In any case, it picked up about $18 on a $2000 account which is sufficiently close to my 1% per week mantra.

My review of WA FE is nearly complete and to follow. Have a great weekend.