FX Update – End of Week 2

After a tumultuous trading week which saw me gain 80% at one point in time, and losing up to 30% in another, I (luckily) ended the week in the green. A series of ill-timed and ill-decision trades took a dampener on my profits.

And so I decided to do something about it.

I set up totally new accounts for trading, now that my IFX and Alpari accounts are up. They will revolve on 2 different risk profiles, one aggressive account in USD and a conservative account in SGD. To fund the US account, I will withdraw my Oanda account balance next month.

And so next week begins with:

Aggressive USD – USD3750

Conservative SGD – SGD3418.21

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It was quite a bad week for forex on Week 4, with my SGD account up 13% (only) and my USD account yoyo-ing up and down but eventually heading into the week in the red. However, there are still floating positions which are currently heavily in the black.

Week 3

Aggressive USD – USD5136.07

Conservative SGD – SGD6260.02

Week 4

Aggressive USD – USD4802.66

Conservative SGD – SGD7068.22

Total account equity stands at SGD11558.07. An amazing figure when all of it is profits from my initial risk capital of 3.5k a month back.

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Here’s my money management plan going forward.

Conservative SGD position size is 15x account equity, with a view to reduce it to 10x when it hits $15k

Aggressive USD position size is 30x account equity, with a view to reducing it to 20x when it hits 12k

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