Automated Trading Update - Week 1
I’ve previously reviewed FXCM’s Forex System Selector, which is an automated forex trading tool. On the surface, it seems ideal - select a model, sit back and let it trade proven models for you. In reality, I’ve had difficulty in obtaining consistent results.
Recently I’ve revisited this, and have used a new feature, portfolio selection. This has some preselected combination of trading systems. This posting is about how the selected portfolio has traded during the first week.
FXCM’s Forex System Selector allows you to specify either a conservative or aggressive risk profile and also specify your account size. As mentioned in the previous posting, this did not appear to make much difference in terms of the smoothness of the equity curves. Nevertheless, I chose a conservative option, called SilverCDelta. It has been trading from October 21 to October 24, and has made 15 trades in that time, with one open position.
The closed trades show a net profit of $451, while the open trade shows a marked to market profit of $1926. The following screenshot shows the closed positions:
FXCM forex system selector closed trades
Unlike previous trials of this software, it hasn’t opened up multiple simultaneous positions. This is a good thing. The last time, some trading systems would open multiple positions within seconds of each other, which would result in significant losses if the trade was unsuccessful.
Also, the trades show an acceptable risk to return profile. There aren’t many large losses, and most trades were closed at a reasonable profit.
To date, the trading has been successful, with total profits of $2,400 for the week. I will continue to monitor performance over time and report on progress.
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