This is my log for the Watanabe Forex Test Project.
I am excited to start Watanabe Forex Test with help of FPA and several EAs' creators. Here I am going to introduce how I picked these EAs and selected the brokers. Really hope in this traders community I will gain more and more knowledge, learn more and more forex trading technology. Traders' advices and suggestions on the project are always welcome to post for me
There is Chinese saying that path to happiness or success is always full of turns and twists. It didn't occur to me until after I selected the EAs.
The first I selected for Watanabe Forex Test is Your Personal Manage. It had tremendous growth with very little drawdown until I started trading with it. I had two accounts in different risk management settings, one was with 1% risk setting, one was with 10% risk setting. The 1% risk didn't lose as much. I hope both accounts will become profitable again soon. Second is Forex Flow. It had very stable growth with almost no drawdown until I started using it. The next day it had its first major loss. I began to understand life couldn't be like a straight line. The third is Magic Champ II. It had long trading duration and steady growth trend and kept that growth trend even after I selected it. So far it is making money.
As for the brokers, FX Open was the first broker I knew about when I started this project. I opened YMP and Magic-Champ II accounts with FXOpen. IBFX Australia seemed to have smaller spread on the pairs I intended to trade with Forex Flow. It was reasonable to open the Forex Flow account with IBFX.
I am willing to explore more products and brokers to make me Mrs Li better than Mrs Watanabe.
Results 1 to 10 of 54
04-25-2012, 01:13 AM #1
Mrs Li's Watanabe Test Forex Project Log
04-25-2012, 01:18 AM #2
All active Watanabe Forex Test Project accounts can be seen here...
Watanabe Forex Test Project | Building a real Mrs. Watanabe
There are statistics for the whole project as well as statistics and links for each test account.
04-25-2012, 03:15 AM #3
Add one more account.
I am new to FPA and i am suggesting that Ms. Li open a demo account with ATC Brokerage and educate herself at Babypips.com using one of their mechanical systems and compare her results with the's. I found both of these by utilizing the Search on FPA (looking for high rated free training and a dependable fast Broker.) Not a bad find for my first day on FPA.
04-25-2012, 03:18 AM #4
Mrs Wantabe project : Million dollar Pips
Can you also please test Million dollar pips- I bought it two months ago, installed it on my VPS and it has yet to do first trade- contacted the vendor - who said I should be patient.
Your "tracking" shows it is still tops- but can you vouch for results?
04-25-2012, 04:38 PM #5
04-25-2012, 08:12 PM #6
04-25-2012, 08:16 PM #7
04-25-2012, 09:50 PM #8
Mrs. Li wants to find out if she can make money using EAs before finishing reading everything in Sive's Forex Military School.
The Million Dollar Pips account at the FPA is on demo. The trade information you see in the FPA test is pulled directly from the broker's server, so it is accurate.
MDP is one of the EAs that Mrs. Li asked me to contact the seller about. MDP agreed to participate. It needs tight spreads and a broker that permits . Getting that at a broker which also does trades at the 1 cent per pip level isn't easy. If a suitable broker can be found, Mrs. Li plans to add it. As soon as she picks out some more EAs that look interesting to her, I'll be contacting those companies.
There is one other seller that has already agreed and sent an . As soon as Mrs. Li gets the account funded for it at the recommended broker, that one will be added to the Watanabe tests.
04-26-2012, 08:49 PM #9
Would like to share some experiences in the path of funding the accounts with our community. After having opened account with FXOpen broker, I needed to fund my accounts. Skimming through the deposit methods on FXOpen site, I thought Money Bookers would be the easiest way to go. I was happy that it only took me a few mins to register on MoneyBookers.com. So far, things seemed to go as expected. Then life drama began. What I needed to do is to transfer money from my bank or my credit card to my moneybookers account. Considering the handling fee of transaction, direct bank transfer seemed to be the better option. I clicked bank transfer option on moneybookers.com, a warning popped up saying moneybookers receives only deposit in EUR and I got the bank details of Moneybookers popped up. I went to my Chinese bank to try to make the transfer. However only then I learned that Inside of China, Chinese banks don't allow Chinese citizens to transfer foreign currencies to recipients other than to their own accounts at another bank or to immediate relatives. My bank would let me send Chinese RMB, but MB said that their bank account in China would only accept Euros. No other choice than to make the deposit via credit card. I followed through the procedure of making transfer via credit card. However I could never get through the step of redirecting from my bank webpage to moneybookers webpage. Tried to contact moneybookers, was told that my bank rejected the process. I then asked moneybookers for the error report they got from my bank in order for me to check with my bank. And that was the moment moneybookers somehow decided to ignore my request and answered some prior questions had I asked about making deposit via bank transfer. I filed more issue tickets regarding the error report from my bank without any luck of hearing back from them. Finally I was tired and went to a friend in USA for help. He encountered different problems and couldn't make a credit card deposit into his money bookers account either. Until then the Moneybookers incident wasted over 2 weeks of time. I finally had to give up using it. I went straight to fund my FXOpen accounts via my credit card and paid higher fees. I use only bank transfers inside China all the time. I don't know why Moneybookers Chinese bank account can't accept RMB and then convert it to Euros.
I am not sure if other people who have encountered these difficulties with Moneybookers.com or not. I can tell you, I am REALLY very disappointed at Moneybookers.com. Online payment is supposed to convenient for people instead giving so many headaches.
05-09-2012, 02:39 AM #10
Please come here and take a look. I've added another test with help of ForexEnvy. This test is very interesting. The results seem to be bouncing up and down. It was making profits at first then slacked down some but managed to close at profit. The floating profit/loss varies a lot. I will be watching closely.
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