I have nothing against NZDJPY, but these trades need to close. The oldest trade is only 2 weeks old, but the swap fees are starting to accumulate.
Since I don’t think I have shown this image before, let me explain my understanding of it.
- Every pair “The Fed” is trading has one of this images on the chart. It provides all of the relevant info on this trading account and the active trades with the Forex pair. (NZDJPY)
- I have a “PRO” account. This has nothing to do with my skill level. It is the type of account I have. It effects commissions charged by the broker.
- The “Account Information” section is pretty self-explanatory. The “Account Leverage” is 1:300. As has been mentioned before, US accounts don’t offer this amount of leverage. To operate the bots, a level of 1:200 or higher is needed.
- Under the “Trade Information”, there are some more interesting things. On this pair, the “Next Lots” is telling me the total value in lots of the 19 trades on this pair is 13.89 lots.
- The “Pips to TP” is stating how close the trade is to reaching the calculated “T/P” (Take Profit) point. Only 33.6 Pips…
- For a more seasoned trader, the bottom section likely has more value. I know the drawdown is not excessive, yet you need some drawdown to get profit opportunities. The margin also doesn’t concern me.
Did my analysis of the graphic prove I am not a very smart trader? It certainly gave me doubts! I know what I need to know. Marking up charts and trading manually is not necessary when you can hire a bot!
Considering starting your own bot farm? Don’t worry about brains being a prerequisite. Let me know of questions.
