Hi, Sorry for my slight disappearence but my home laptop Windows Vista decided to bust up. Anyway…so lets s start…

Trading Week 10th – 14th August: Winning Week
This was a great week for IVYBot. 7 trades, 7 winning trades.
Profit of $54.04 with 0.1 lots default settings.

One thing to note here is that IVYBot left a trade open on Friday which I didn’t like.

Trading Week 17th – 21th August: Confusing Week
Well I was waiting for a loss trade to calculate the stop loss IVYBot is doing by default, and finally we got one, more than one

I had one trade that I am sure of, with a loss of -$171.39, with 0.1 lots. My demo account is $1000, so basically 17.14% loss. NO GOOD. Your risk per trade must always be 2%-5% per trade – NO MORE, in fact recommended is 2%, but 17.14% loss is very bad, extremely bad.

It is a proven fact that even if your account falls by 50%, it will be very difficult to recover. With 17.14% risk, with 4 – 5 successive bad trades, then we can simply close everything down. And hey I am not an expert trader far for it, but I do trade and money management is the most important thing in Forex. Risk more than 5% per trade, keep waiting for your bad trade to become good, and you are wiped out in a day or two.

Anyway back to IVYBot, I still can’t understand why it is risking all that amount, for just 8pip profit!

There were some more good trades along the week, but is useless to talk about them with that -$171.39 loss since the profit is negligible.

And yes I have 3 yes 3 open trades by Friday with total loss between them of around $150. I bet this will end up with $500 compound loss.

Yes Monday morning I stopped IVYBot from my Live account since I knew something is wrong – thank God.

Action Plan for next week.
I will create a new demo account $1000, will set a stop loss of 5% per trade, that is 50 pips and see how it will go. This is how I was thought to trade Forex, and it is the only way that works, so if IVYBot do not like the stop loss than he may simply f**** off.

I will test with 70 pips as well although I am not very keen on this, but will do.

And apologies for not cooperating lately.

PS: Forex Decimator did some good trades, but eventually I got confused since with that demo account I am testing some expensive services (but are extremely reliable) and I got confused which trades were of Forex Decimator robot. hehe now I have separated everything.

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