Updates

Update 23rd January 2016

Markets closed positively this week for the first time in 2016. While this is encouraging, it is too early to celebrate as oil price issues are still very fragile and any crashes in oil at the moment will crash the markets.
Etoro:

95% of the damage done this year has been reversed. Another week like this and we can start to recover from Decembers losses as well. For the first time in 2016, Ican say we had a good week.

Hotforex:

We have been doing well here as well. The account is back in profit both equity wise and balance wise. Despite a few withdrawals by quitters, which effected our free margins, the account did well. 

I really hope this continues

12 Comments

  1. Unfortunately for some of us the damage is not reversed. There was a time when I and some other mates like me could not add more funds so to avoid hitting the SL on entire portfolio, I had to close the GBPJPY, USDJPY, USDCHF trades manually while deep in loss on (19/01/2016) ETORO.
    I was only able to keep the GBPCHF trade.
    Although I have lost almost 75% of my equity for good, I still hope with the remaining 25% we can do some good trading and earn back the losses in a few months. I have not given up. We come with all the risks in mind. Considering how the market has been the last few weeks, I am still lucky to be able to have the 25%.
    Cheers!

    1. I know the feeling. That is exactly what happened to me on Saxo. It also annoys me to see this happened to you knowing that 24 hours later the usdchf and usdjpy close at a 50% and 20% profit respectively. These daily 300 pip volatility movements were not good for any of us. Let us hope the next few weeks do not bring a return of the panic. But this is the risk we take. Trying to get 4 figure returns a year involves being risky, we are aiming for 2000% a year not 2% afterall.

  2. Good work as always. lets hope oil don’t get crazy and have a great week
    P.D. i hope this week i get a payment and with that i join on HotForex 🙂

  3. It’s been a good relief this week. Had to push my funds to etoro to save the account so no HF for me now.
    Keeping up the faith.
    Have a great weekend!

  4. Sadly even though I added funds the copy SL on eToro blew and the last few k of my original investment pot with it, frustrating as I got whipped out by a gnats whisker, 1more day and I would have been ok, just bad luck I guess. Am still with you on HF and have recopied on ET but with most of my equity blown it’s with peanuts!!

    All the best Mo, wishing us all good fortune over the months ahead!

  5. Hi Mo,

    Hope your having a good weekend and some well deserved time off. I’m hoping to eventually join you on HF, but as I’m sure you understand cash flow is a bit of a problem at the moment. So maybe in the future. I know your planning to close etoro when your trades are finished. I was just wondering though, are you planning to make any new etoro trades until these 2 come good (providing the right opportunity comes along) or are any new trades just coming on HF?

    1. If an opportunity comes along (e.g. Usdjpy falls to 117 again or usdchf falls to 0.99 then definitely will go for it. Would be foolish not to, but that said when I see he situation as better, I will be withdrawing my 99% of my balance from there. HF is just so much better a platform in terms of no ripoff withdrawal fees, much better spreads and no reliability issues (i.e. It doesnt randomly shut down with no explinatikn when the market is favouring the traders and not the market makers…)

      1. Hi Mo. Im planning to join you asap on HF. I was just checking the withdrawal options… Its always easy to deposit but I see that there you can withdraw to your card only the sum of your deposit. Which of the online payment options are the best while why cant use paypal? Thank you and enjoy rest of the weekend 🙂

  6. Hi Mo! We are with You and the desire for a relayable market …
    I agree with You, that WE should not be sure of the turn-around.
    The Cliff Fundamentals are telling the opposite! I went long on GBP/JPY – so most of this community know what’s going to happen ?
    Hope this information is not illegal, as it’s literally an insider Information…

    Looking forward to seeing profits in the next week,
    Thomas

  7. Will you shutting down etoro altogether Mo I am on hot forex too but can’t really understand it as I’m used to etoro set up does the trades on hotforex only get updated daily and the profits etc??

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