Meta-Trader - 3 Drunks in a Bar

Welcome back Meta-Traders.

It was risk-on this week as equities had their best week since July of 2009 with S&P rising 6% this past week and rising 11% since the plunge lower back on October 3rd. In the past 2 weeks, we plunged to a new low, then turned around and raced right back up to the top of the range. Equities are trading more like futures being priced for both disaster, then recovery, almost by the day. This market is behavior is downright manic.

All this jubilation in equities took USD lower against all pairs with the DXY dropping about 5% on the week and pushing EUR/USD right back to resistance at 1.38.

For me, the highlight of the week was an interview on Bloomberg Radio with Andy Brough from Schroder's Investment Management. "You look at the Euro, your look at the Dollar, the look at Sterling, its a bit like 3 drunks in a bar, propping each other up .. at different times one feels better than the other." You can hear the entire interview here.

As for equities, I didn't make any trades this past week, but it was good to see nearly 10% of my account value - which had recently evaporated - come back almost as fast as it left.

As for Automated Currency Trading, it was a postive week on balance.

Atinalla FE gained about 3% for the week. It would have done better, except it got stuck in a FIFO trading violation where it tried to open and close a new position while it had one open already:

05:58:46 ATINALLA_FE EURUSDFXF,H1: Alert: Cross above CCI threshold detected
05:58:46 ATINALLA_FE EURUSDFXF,H1: open #14568118 buy 0.03 EURUSDFXF at 1.3797 ok
05:58:46 ATINALLA_FE EURUSDFXF,H1: modify #14568118 buy 0.03 EURUSDFXF at 1.3797 sl: 1.3674 tp: 1.3922 ok
06:58:42 ATINALLA_FE EURUSDFXF,H1: Alert: Long entry RSI cross detected
06:58:42 ATINALLA_FE EURUSDFXF,H1: open #14568246 buy 0.03 EURUSDFXF at 1.3773 sl: 1.3674 tp: 1.3922 ok
06:58:42 ATINALLA_FE EURUSDFXF,H1: modify #14568246 buy 0.03 EURUSDFXF at 1.3773 sl: 1.3677 tp: 1.3867 ok
08:58:43 ATINALLA_FE EURUSDFXF,H1: handleBuyTrade: instrument: EURUSDFXF ticket: 14568246
08:58:43 stdlib EURUSDFXF,H1: loaded successfully
08:58:43 ATINALLA_FE EURUSDFXF,H1: Error info: 150 description: prohibited by FIFO rules
08:58:43 ATINALLA_FE EURUSDFXF,H1: Alert: RSI Cross to exit long detected

To unlock this condition, I had to close the first existing open position first at a loss. This is what happens when you trade a non-NFA compliant system on an NFA compliant broker. Thanks alot for that one, Dodd-Frank!

Atipaq full Portfolio have a few losers, but went into the weekend with about 2.5% in unrealized gains.

Megadroid Live and my own EA FX-Regression tacked on some gains as well.

On the development side, i'm hard at work on re-balancing my Forex Portfolios for 2011. It seems that only FXDD will be offering a deposit bonus, so that's where the funding will come in.

I'm also making progress on more FX-Regression improvements, and hope to be ready to share those before 2011 is out.

That's all, enjoy your weekend!