Automated Trading – Week 3 – more trades
This is an update of trades made during the third week of my evaluation of FXCM’s Forex System Selector. For new readers (welcome!), this is a web based automated trading tool that allows the user to select one or more trading systems (from a large number of available systems), and have them automatically traded against an account.
The trades occur automatically with no input required (besides initially choosing the systems). So there is no more time spent watching the fluctuations into the night, and there is no emotion involved in the trades (since they use predefined trading algorithms)
This is running against a one month demo account, which is funded with $100,000. To date, there have been some wins and losses. The system has made some more trades in the last 24 hours, so this is an update.
In summary, the combination of the selected models has made a profit of $239, on the demo account. As detailed previously, some of the trades appear to have been doubled up. Without these apparent errors, the profit would be around $1,100, which is quite good for three weeks.
Here is the detail of the trades to date:
I selected ten models for my demo of the system. My criteria was low drawdowns and a smooth equity curve because my experience of these systems to date has been a string of losses. Out of these, five models have traded over the last three weeks. If I run this demo for another month, I would like to refine my model selection criteria. When I selected these models, my main focus was on avoiding losing money rather than finding the balance between equity curve smoothness and profits.
If you have used the Forex System Selector yourself, the readers of this blog would be interested in your experiences with this product. In the meantime, I’ll continue to monitor trading performance.
