Day trading results so far this week are slightly negative. “Off quotes” are still coming up quite a bit on the MT4 platform, but at least the rejections are pretty fast.
We are still waiting for FXLQ’s launch of their new MetaTrader day trading system. We were supposed to receive a demo with their new, improved feed last week. We didn’t. We don’t know what’s going on and nobody has contacted us to give us an update. Tic…toc…tic…toc…
We are also in talks with a few other firms that are working on providing Currenex pricing through MT4. One Currenex firm that has very tight spreads and good liquidity told me that their MT4 platform should be ready in March (next month). If this is the case, we will have more options to diversify. Since our platform of choice is MetaTrader, this should be a big plus for the robot program.
I am also in talks with a few talented algorithmic (automated) traders that have all their day trading systems written in MetaTrader language. The ability to access a clean Currenex feed through MT4 will allow us to allocate some funds to them and accept more client capital.
Currenex Trading System Does Not Work
Today we put at end to the live tests with the Currenex Trading System. Even though the platform that was designed for us was pretty good (in theory) for manual scalping, the Currenex data was getting delayed during active forex market periods (like after news releases). For some reason, receiving Currenex pricing data over the internet (even while using DSL or Cable) is problematic.
It seems that we’ve exhausted many scalping options already. Here are the possibilities I see going forward for the DTT robot program:
- FXLQ’s new MT4 system – Hopefully it will allow us to increase the lot size we are trading.
- Strategy Runner plus Currenex – Strategy Runner can connect us to Currenex using Radianz, so it should be a lot faster than going through the regular internet. We might be testing this in a week or so.
- MT4 plus Currenex – This will be huge if any of the firms I’m in talks with pull it off. It might actually be the best scalping solution out of all three – and a sure blessing for automated day trading systems.
We keep pressing forward in our day trading journey!