Trading Account

Trading Account

Monthly Trading Results

Monthly Trading Results

Wednesday, July 15, 2009

Charts and Trades

I just updated the total return chart and added the monthly return as well as the closed trade list. As you can see from the trade list I haven't had a losing trade yet. Then why is the account down .2% this month? Fees. Since I hold positions for days or even weeks, my broker charges the standard "roll rates" for holding the position overnight. These fees have not been offset by closed trades, which is usually the case. Also, this has the potential of being a losing month based on circumstance alone.
I am going on vacation to Mexico this Friday and am not counting on being able to access the trading platform while out of the country due to spotty internet access. Who wants to work on vacation anyway? This wouldn't normally be a problem except that the new NFA First-in First-out rules go into effect on August 1st. After that date I will no longer be able to close an individual position that is profitable, instead the oldest position will be closed first. My plan is to transfer the account to another broker to avoid these issues but I will either have to close out the positions where they are when the transfer is to take place, or leave some money in this account and transfer the balance. Neither option is ideal, but unless the price moves up from today's high that is the decision that I will have to make.

1 comment:

  1. I use this chart tool from my broker ACMs site: http://www.ac-markets.com/forex-news/forex-charts.aspx
    Have a good trip :)

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