Last week was our first negative week, I believe it was about 1% but I was so busy I didn’t get a chance to record all the numbers.
On a more positive note, this week was another positive week. We made $14.51 this week on our trades and $9.55 on commissions.
Investment: $1700
Current Balance: $1775.87
YTD Gains: 6.51% (includes commissions)
Weeks in market: 9
I need to start out by mentioning that my results are going to be slightly scewed from here on in. I am now earning some commissions on a few accounts I signed up which is going to affect my numbers. I will still outline my weekly returns and the actual rate of return minus my commissions. The commissions are actually only a few dollars a week but just for the sake of being honest with everybody I am going to include them as well.
This week, the actual return rate was 0.33% which is a bit lower than what I’d like to see (my stats show closer to just shy of 0.7% but that is with my commissions as well).
This week we made $5.69 on the two trades that took place and $6.40 commission off some of other accounts that I have opened.
Investment: $1700
Current Balance: $1753.30
YTD Gains: 5.14% (includes commissions)
Weeks in market: 7
This week was an alright week, slightly dissapointing as we didn’t quite hit half a percent return, but still significantly better than any sort of return you’d ever see from the bank. This week’s return was .38% which brings our total gain to $41.22 in 6 weeks and our year to date return return of 4.45%.
Below is this weeks trades
Investment: $1700
Current Balance: $1741.22
YTD Gains: 4.45%
Weeks in market: 6
The $1200 we placed into our account went into the market this week and was used for trading. Thank god as we had a good week. Another solid 1.06% return bringing our total gain to $34.80 in just 5 weeks with a year to date return of 4.07%.
Since we’ve added an additional $1200, our total deposits are now at $1700 and our total balance is now $1734.80
Investment: $1700
Current Balance: $1734.80
YTD Gains: 4.07%
Weeks in market: 5
While last week was our best week of trading, this week was definitely our worst week. While this week had less gain than the previous week, it still managed to make us some gains. This week’s gains were roughly 0.11%. While this is low, it is still a lot better than any sort of term deposit available in today’s market.
The statistics this week are slightly skewed as we deposited an additional $1200 USD into our account as we’ve been very pleased with the results up to this point. The $1200 was not traded last week; however it should be in the market for week 11. The ROI from week 10 were $1.82 bringing our 4 week return on investment $16.45 on a $500 investment. Our total returns so far this year while being in the market for 4 weeks in 3.01%.
Initial Investment: $500 + $1200
Current Balance: $1716.45
YTD Gain: 3.01%
This week was definitely the best week of forex trading we’ve had to date. In our three weeks in the market, this week we had a return of 1.3% bringing our year to date return to $14.64 with a 2.9% increase on our initial investment.
I’m so happy with the results in the first 3 weeks, I’ve decided to invest another $1000. I will be placing this money in my account as soon as possible, but it probably won’t be used for trading for a few weeks
Here is my trading activity for Week 9 of 2006 (click image to see full size version)
Initial Investment: $500
Current Balance: $514.64
YTD Gain: 2.90%
Any questions? Fire me in a comment
Another week and another 0.85% increase on my original deposit. My balance is now $507.95 and I’m up almost $8 in 2 weeks. I’m up a total of 1.58% which isn’t bad considering that a lot of term deposits at financial institutes (banks), are around 1.5% annual return.
Here is my trading activity for Week 8 of 2006 (click image to see full size version)
Initial Investment: $500
Current Balance: $507.95
YTD Gain: 1.58%
That is it until next week!
Well…. First statement came in today. One week of trading and I’m already up over $3 on my $500 investment! Woohoo!
Here is the actual statement below, click the image to see fullscreen:
Initial Investment: $500
Current Balance: $503.67
As of today, February 21st, 2006 my money is now showing in my account and is active. Time to play the waiting game. I believe my first trade is going to go down tomorrow. Hopefully I can get my reports on the same day and won’t have to wait a week to get my next report.
You may be wondering how we intend on landing 1% a week?
First of all, we are using professional traders to manage our forex account. They will day trading for us using a technique called scalping.
Scalping is basically a technique used where you are only in the market for a very short period of time. Just long enough to allow the market to go up a few pips and get back out. When doing this you really need to know the markets being invested in, in our case we will be using two currency sets. US/EUR and US/Jap. Our traders are very familiar with these two currencies and are very good at spotting a trend and can easily capitalize using the scalping technique.
Three sets of trades will be taking place each week, each trade will aim to land about 0.33% return.
If you look at most managed trading accounts they aim for much larger daily margins sometimes aiming as high as 10-12% daily return. Aiming for such large margins tends to also yield much more risk.
Anyways… thats it for today. Hopefully I will have some financial statistics on my next post.
Basically we’ve decided to do a little case study on the Forex market, otherwise known as the FX market or Foreign Exchange. We have taken a small investment of $500 and are planning on tracking our results on here on a weekly basis. Our goal is to get a 1% weekly return on investment. I’ll do my best to also answer any questions anybody has regarding our little forex case study/experiment.
