Yesterday we started testing the live executions on our new, customized trading platform (“Currenex Trading System“).
The executions (entry and exit orders) occur on one click; which is much faster than the multiple clicking that’s required when day trading on the MetaTrader (MT4) platform. Unfortunately, we missed the action yesterday morning (London Time) due to an incorrect setting at the Currenex broker, but we were able to “fire away” a few test trades later on during the day, on a quieter market period and the executions were relatively fast. We need more testing on a faster moving market, so tomorrow and Friday might be good days to continue our tests.
Trading at FXLQ
As you know, FXLQ has been working on an improved MT4 system where a larger number of banks will provide liquidity. This system (I was told yesterday) probably won’t be ready until the end of this month.
Nevertheless, I was informed that they had added new liquidity providers to the existing MT4 system and that they had fixed something on their end that would allow us to continue trading until the new system was ready. Apparently, there was a problem on their end that kept generating a “no connection” message on our end when orders were placed.
The market today did not react much to the US PPI figures at 8:30 AM EST and it flatlined for much of the European and beginning of the US trading sessions (Click on the image below to see a larger view of this.). A few trades were still executed at FXLQ, even though the same old “off quotes” rejections abound. We’ll be going back and forth between the Currenex Trading System and the MetaTrader platform moving forward.
