Today was the first day that FXLQ restored the institutional feed on the trading platform. From what Brian McMahon told me, FXLQ has only a few banks making up the feed right now, but will be adding more liquidity providers (banks, etc.) up to January 1st – when the feed will be “complete.” This should narrow spreads overall and give us access to more liquidity when we trade (at least in theory).Brian also said that a system upgrade performed by their tech guys should eliminate the drastic number of rejections we have been experiencing (the dreaded “off quotes” message).
As instructed by FXLQ, we will start day trading again (with limited size). You might see some activity tomorrow. The primary goal is to see if the trade rejections are reduced, even though the liquidity won’t be “optimal” until the 1st.
New Order Entry Program Passes Demo Stage
Nigel and I have been testing the new trading order entry program that was designed for us. It works great on demo mode and passed all my tests.
Even though we will constantly be tweaking it for “perfection” (if such a thing exists!) as we go, we’ll probably start testing it with real funds in the next few weeks (or possibly at the beginning of the new year).
By next week, the forex market activity might diminish significantly – not the ideal environment for successful day trading. This might FORCE all of us to take a vacation until the beginning of the year. We should anyway, right?
