The good news: a seven trade winning streak. The bad news: the last two don't count.
As if to prove that nothing can ever go completely right in forex, I woke up today to find that my trading system made its seventh winning trade in a row - definitely a new record for real trade predictions, not just theoretical ones in my historical backtests. The problem was, I couldn't make this trade, just as I couldn't make the sixth winning trade last Friday (as I mentioned in my previous rant). The reason being my trading platform FX Engines was still down, and still is last I checked. While I've had a lot of good things to say about FX Engines in the past, this is approaching an unacceptable level of downtime during live trading hours. I can certainly sympathize when a server goes down, which they inevitably do - in fact, I've worked at a dotcom start-up where screwy servers gave me a couple extra weeks paid vacation. But can you imagine what would happen if a big player like Charles Schwab or E-Trade (or Oanda, or GFT, or you name it) went down for two trading days, three if you count the Asian trading session on Sunday? Even if you're a small player, you're going to need the uptime and reliability of a big player if you want to compete.
Anyway, I just had to vent a little because it's kind of a bummer to see a nice run of trades killed off because of technical difficulties, which of course never seem to crop up during a losing streak. That's the last I'll say about it, I promise. Well, unless it happens again.
Happy glitch-free trading!
Labels: Errors, FX Engines, Risks
4 Comments:
Go on you for the win streak.
I must say, I would not be so calm as you appear if I were in your shoes. Needless to say, lots of others are, but I would be more than a little concerned.
I would be looking around for a new trade home! I am one of those small players, but, I would have no faith in a forex company with that kind of downtime. Backups should have backups.
Hopefully, their system will come back online very soon and your system will remain in the positive.
Best.
Hi,
Wow, seven winning trade is something I can only dream about.
Care to share which indicators you use. I'm currently using EMA 6 and 13 for short term trand, and EMA 89 abd 144 for longer term trend.
CY Lack
Still a novice in this game, but I do got the odd 1 winning trade streak! I've book marked your blog, and hope to pick up some valuable tips.
Thanks for the comments - I'm now trading with FXCM's TradeStation and everything's going smoothly so far. To answer the question about indicators I use, I have a layered system of signals that includes moving averages, moving medians, changes in slope, price breakouts, Bollinger Bands and various others all glued together in Excel with AND/OR logic functions. But the most important signals are probably the meta-signals which measure my system's recent trading performance and turn it on or off based on whether it's doing well or badly.
Post a Comment
<< Home