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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!

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4 Comments:

At 6:26 PM, Blogger Acasa Ltd. said...

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.

 
At 6:57 AM, Blogger Lack said...

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

 
At 5:45 AM, Anonymous Justin said...

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.

 
At 9:15 AM, Blogger The Riverman said...

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.

 

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