This article is an update of progress with the second month of testing of FXCM’s Forex System Selector.  In previous articles, I’ve gone through the selection process for choosing some trading models, but this article is about how the selected models are trading to date.

The current trading balance is $100,964.  This compares with the opening balance in the demo account of $100,000.  On the face of it, this is an excellent result, but this does not take into account the open positions.  Marked to market, the open positions show a loss of just under $800.

I again reiterate my comment about some of the models being able to open multiple positions in the same currency pair.  This is currently the case.  The combination of models that comprise this system appears to have a longer term focus, so the position may turn around, but one model currently has four open positions.  Each of these is down about 153 points.

I have not found a way of preventing this risky and annoying behaviour, but it makes the equity curve a lot bumpier than it needs to be.  In effect, it overrides the selected risk settings.  I’ll continue to monitor the performance of this trading system.  Overall, I am quite happy with the risk profile except for this one system opening multiple simultaneous position.

If you’ve traded with or trialled FXCM’s Forex System Selector, please share your comments and experiences.

Tags: Automated Trading, forex system selector, Forex Trading, FXCM

This entry was posted on Wednesday, May 21st, 2008 at 12:32 pm and is filed under Automated Trading. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.