Forex statistics with FX Blue.
In this article, I will show you a statistical website for Forex Trading. It is called FX Blue where we follow the Forex statistics of the account. The good thing is that ones your MetaTrader account is linked, all the Forex statistics update automatically.
This is a free lecture from my Top 10 NZDUSD EAs course, And you will learn how I use FX Blue website to analyze the trading results from the Experts I include in this course.
Below you can see an overview of the account and you can follow the performance. But keep in mind that this overview is based on the performance that we have so far. In our case, we have 10 days of trading.
A true monthly return will be available when 1 month passes. Since the example below is just for 10 days, this is not enough to have a reliable monthly return. So the monthly return is based on the performance we have so far. And then we have the Profit factor which is 1.62 in this example.
And what more we have on this FX Blue website is the balance and the equity. As well, we have the returns, total return per day, per week, per month.
One more time, this Forex statistics is based on the performance so far. Other statistics that are available are results in days, weeks, months, which is too early to look at that.
And as well the winners, the losers, all trades and so on. Now, what I look at the most is the strategy.
This is where I see which strategies made profits so far, which strategies made losses. On the left side, we have the magic numbers and then we have the number of trades, the gross profit, the gross loss, the Net profit.
Profit factor is my favourite among all Forex statistics.
The Profit factor is the ratio of the Net profit versus the Net losses. Or in other words, the profit divided by the loss. And this is one of the things I am looking at.
We have the winners, the losers. So we can see how many winning trades, how many losing trades we have for each strategy.
If I scroll more you will see average win, average loss, average trade, best trade, worst trade, longest, shortest trade.
So we can see how many hours these strategies keep the trades open, like the average length for the trades in hours. And then we have the pips.
Also very interesting, we have how many pips we have won and how many pips we have lost. And here are the net pips and totally we have 157.2 pips. And here we have the Pip Profit Factor.
So it’s like the same thing as the Profit Factor we have with the Net profit but here we are in pips.
And if I scroll more you will see how many lots were traded totally.
And in the end, we have an average length of winning trades in hours and an average length of losing trades in hours.
We have the consecutive profit and the consecutive losses, consecutive pips is over here, maximum consecutive winning pips and maximum consecutive losing pips.
The Forex statistics.
So it’s really a lot of statistics that you cannot understand from Meta Trader if you’re looking at the account history.
We have as well the days, the months, the weeks and many more that I really don’t look at. I mean I look at them just to have an idea but I concentrate on the strategy.
So if I use these Forex statistics and arrange the strategies according to the Net profit, I just click on Net profit 2 times and on the top, I will have the strategies that made the most profit.
And in the end, we have these 3 strategies making losses. Actually, this is not a strategy. It says no magic number.
And if you remember at the beginning of the course I opened 1 lot trade to show you how you can check if you have a commission for your broker or not. So I closed it on -6 and I had a commission of 6, totally -12.
So this means that actually the profit from the strategies for these 10 days, it’s not 137.75 but it’s actually 149.75.
Because I have this -12 from that open trade there. And actually I can remove it if I filter the statistics. Let me try to do that.
So if I filter start date let me see when that was today’s the 29th of August, 10 days ago should be right about here on the 19th.
Following the results.
Let me try 21st, I click on filter.
It is removed.
So just the result from this trade is gone and exactly I have 149.75.
So what happened, I was placing the Expert Advisor somewhere on the 19th or on the 20th. I think actually it was on the 20th and then the first trades started to open from 21st. So I will leave it this way in order to remove this trade which is not from our statistics. It’s not what I am looking at.
So in the Top 10 NZDUSD EAs course, I will show you how I follow the results over here, what I’m looking for. And I will give you some ideas about how you can select which strategies to use from these 10 Expert Advisors. Because it really doesn’t mean you have to use all of them.
Of course, you can if you want. But what I normally do when I test Expert Advisors on a Demo account, is I look at their performance and I choose which ones I want to put on my live trading account.
And the best way to do that is to test these on a Demo account and to see which strategies are currently profiting.
Analyzing the results from the Forex strategies.
Because as we said, every strategy has a profitable phase, a losing phase, which is very normal. But the thing is I want to trade the strategies only in their profitable phase.