README Documentation (updated often): https://bit.ly/41FPceY
In the last video, we have talked about how to enable advanced statistics on FXblue. This is a free web service where you can connect your account and also see the details for other accounts. In my case, this is the account that is used for the trading experiment that we are doing in 2024. We have some statistics here. Currently, we have a closed profit of $157. The last update is from five minutes ago. Here are some more details like the total return, the monthly return, and some calculated stuff. But basically, the more interesting part is: you have some averages and some details about the currency pairs that you are using. Right now, we are only using the Euro-US dollar chart, but you could add different charts for different currency pairs and see all the results here. I have other accounts where I trade up to 22 charts at the same time, and that has some advantages and some disadvantages. A good thing is that when we see the Euro-US dollar drop and when we run into a drawdown, we could hedge that with a different currency pair, and that might lead to more stability. The bad thing is that the more currency pairs you have, the less number of positions you can have for each currency pair because your broker has a limit to the max number of positions that you are allowed to open.
So it might be a better idea to trade one currency pair for each trading server in your server farm, but that is more advanced stuff. When you click on orders here, you can see that we currently have no open orders. On the main page, you can pick one of the reports that they offer. Here we have Floating Profit and Loss or the Equity Report. You can see the equity is also up to $157, so no open losses. Stuff like daily profit, weekly or monthly profit will be calculated here. If you scroll down, you will see the risk. Currently, the risk of ruin is zero because we have no open losses. The system has been online for nine days, but actually, I started to use it this week because the MetaQuotes demo account was not supported for the advanced statistics. And FXblue has a list of brokers here, but MetaQuotes is not included for any reason, so I switched to a Robo Forex account. Anyhow, these statistics here will become very important for you in a few weeks. And if you prefer, here is an option to also download this as a comma-separated file that you can analyze with Excel or any other spreadsheet application.
So that’s it for now. I say thank you for watching, and I will see you in the next video.