Way back on July 15th Alpari UK announced on their website that they:
Will launch two advanced trading platforms by the end of August, offering high-speed and direct access to the international currency market for Alpari clients and other institutional and retail customers. Powered by trading technology provider Currenex®, Alpari Direct Pro will be offered to institutional clients while Alpari Direct will be offered to retail customers.
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MetaQuotes announced today on the MQL4 forum that the long awaited MetaTrader 5 client terminal will finally be available for testing by the general public in the very near future. According to the announcement:
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In our previous live test results for June and July the Forex MegaDroid MetaTrader 4 expert advisor did at least manage to make a profit. Sadly the "robot" seems to have lost it's way over the summer holiday season. In our live account at Alpari UK it lost money. In percentage terms it lost a lot of money!
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The Forex MegaDroid team seemed to think that the NFA's new FIFO regulations were going to cause their creation some problems. On July 5th they sent an email to their customers promising that:
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At long last August 2nd has been and gone, and the dust has settled slightly. We'll cover what still works and what doesn't in a forthcoming post, but for today we're going to concentrate on who said what, and when. We'll do that by working our way down the list of retail forex brokers included in the CFTC report on the financial strength of Futures Commission Merchants. For some reason it seems the better capitalised a broker is the less it has to say about the FIFO fiasco!
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As our regular readers will know we've been having a few problems getting consistent results from our Forex MegaDroid backtests. We've also had a major problem with our forward tests. The robot hasn't traded for weeks! However last night the Droid leapt back into action with avengeance! Please bear with us while we explain what our various virtual private servers discovered for us while we slept.
More on The Forex MegaDroid Forward Testing Fantasia – Variation 1
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Here are our first set of Forex MegaDroid live test results, which cover the month of June 2009. Here at the Trading Gurus we recommend forward testing any new forex trading system on a demo account for at least three months before even thinking of trying it using real money on a live account. However our loyal readers have been asking to see some live results. After 2 months testing on a demo account with no major disasters for the MegaDroid we decided to start live testing using a modest initial deposit of $500. On an account that supports micro-lots this is sufficiently large to allow the Droid's money management system to start trading with more than the bare minimum position size. It is also a reasonable sum of money for someone new to forex trading to be prepared to lose. As you have hopefully realised by now, newcomers to forex trading do have an unfortunate tendency to lose money.
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I logged into our virtual private server this morning, excited at the prospect of writing about our first month's live Forex MegaDroid testing using real money. That will now have to wait for a while, because I discovered something even more interesting. The Forex MegaDroid robot had completely stopped working, and not for the first time!
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In the second of our series of interviews with senior figures from the Forex industry, I spoke earlier today with Marc Prosser, Chief Marketing Officer of Forex Capital Markets. I started off asking the question on everyone's lips these days about the new "hedging" ban. We then talked about the relative merits of "straight through processing" versus "dealing desk" business models, and then briefly touched on the regulatory aspects of transatlantic transfers of client cash.
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As you know, I was idly perusing the Boston Technologies website the other day when I happened across their very own MetaTrader robot, which seems to have developed an unfortunate habit of losing money rather than making it hand over fist.
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