As we have moved forward with the test and design of a new computerized auto trader, it has become apparent that it would be most effective to program and run the system in Metatrader. I have spent the last 5 days researching in depth the dozens of Metatrader brokers in the industry. I am weighing various factors in deciding which broker to switch to.
Strength of the company. Because Forex is largely unregulated, the risk of losing some or all of our capital because of a broker going under is a real threat. And while it does not happen often, we still want to choose a company with strong financial backing, a good history under it's belt, and located in a country that can help us in the event something were to go wrong.
Liquidity. The number and strength of the liquidity sources a broker uses will determine the amount of buying power we as a trader will have at any given price. In order to be sure that we will not experience excessive slippage, we will look for a broker with several large liquidity sources.
Must have access to the Metatrader software. Metatrader is a commonly used trading/charting software in the Forex world. It is simple and reliable. Up until this point, we have used Metatrader for charting but placed our system trading orders through the MB/Dukascopy platform. The move to Metatrader for order entry will make the transition to an automatic trader smoother, faster, and most reliable.
Narrow Spreads. We have been spoiled by the tightest spreads in the industry offered by both MB Trading and Dukascopy. We are unlikely to find as good of spreads with a Metatrader broker as we have had. However, the tighter the spreads, the more money the system is able to make.
Must have access to the 16 pairs we will be trading. Obviously, the broker must have the ability to trade the 16 pairs we will be trading on the upgraded Intraday.
I have identified the following companies as potential broker choices.
1 - Tradeview Forex
2 - FXCM (Metatrader through API)
3 - Interbank FX
4 - Aleccoh FX
5 - Oanda (Metatrader through API)
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Steps to Trading Your Money Live.
*** We are not currently accepting new accounts to trade.
1) Watch the Managed Account Intro and Trading System Overview Video.
2) Watch the Demo Account Trade Live.
3) Review the New System Setting's 6 month Backtest.
4) Download, read, understand, sign, and email back the Tradewinds Risk Disclosure and Managed Account Agreement. Email a signed copy to your Tradewinds Representative.
5) Open an account at Varengold Bank FX.
6) Fund your account with a minimum $55,000 deposit (see Varengold Bank FX representative for funding details +49.40.66.86.49.0)
7) Notify your Tradewinds representative once you have received confirmation from Varengold that your account is set up and funded.
* For questions talk to your Tradewinds Representative or email us at: tradewindscurrency@gmail.com
Quick Links:
i) Varengold Online Application
ii) Limited Third Party Management Mandate
iii) Pay Agent Instructions
iv) Account Setup Walk Through Guide
1) Watch the Managed Account Intro and Trading System Overview Video.
2) Watch the Demo Account Trade Live.
3) Review the New System Setting's 6 month Backtest.
4) Download, read, understand, sign, and email back the Tradewinds Risk Disclosure and Managed Account Agreement. Email a signed copy to your Tradewinds Representative.
5) Open an account at Varengold Bank FX.
6) Fund your account with a minimum $55,000 deposit (see Varengold Bank FX representative for funding details +49.40.66.86.49.0)
7) Notify your Tradewinds representative once you have received confirmation from Varengold that your account is set up and funded.
* For questions talk to your Tradewinds Representative or email us at: tradewindscurrency@gmail.com
Quick Links:
i) Varengold Online Application
ii) Limited Third Party Management Mandate
iii) Pay Agent Instructions
iv) Account Setup Walk Through Guide
New Reader Orientation
Welcome to the Tradewinds Currency Trade Blog. In this forum you will find a day-by-day play-by-play of our trading activities. You will find commentary on the market and how it may affect our system. And we will post monthly and quarterly performance reports. While we do not disclose the trading rules we follow we have included several posts that should orient you on our strategies, our philosophies, and the risk involved in Forex trading.
- Risk Disclosure
- Past/Hypothetical Performance Alerts
- Why we started the fund/our risk appetite.
- What is a trading system?
This blog is written by Lead Trader, Spencer Burton.
- Risk Disclosure
- Past/Hypothetical Performance Alerts
- Why we started the fund/our risk appetite.
- What is a trading system?
This blog is written by Lead Trader, Spencer Burton.
Blog Archive
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2008
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April
(33)
- Back Testing the first half of April 2008
- Hypothetical Results Update
- What to do with the Pesky U.S. Economy.
- Hypothetical Results for Week of April 21st - Apri...
- Complete list of 16
- Recommended Broker Change
- Latest Test Update
- Hypothetical Results - April 18th, 2008
- Hypothetical Performance - April 17th, 2008
- Testing Update
- Hypothetical Performance - April 16th, 2008
- Trading placed on 45 day hold (April 16th - May 31st)
- About Daily Testing Results
- About the "Recommended Changes" to the Trading System
- Daily Wrapup - April 14th, 2008
- Daily Outlook - April 14th, 2008
- Daily Wrapup - April 11th, 2008
- Daily Outlook - April 11th, 2008
- Technical Difficulties
- Daily Wrapup - April 9th, 2008
- Daily Outlook - April 9th, 2008
- Daily Wrapup - April 8th, 2008
- Daily Outlook - April 8th, 2008
- Daily Wrapup - April 7th, 2008
- Daily Outlook - April 7th, 2008
- Daily Wrapup - April 4th, 2008
- Daily Outlook - April 4th, 2008
- Daily Wrapup - April 3rd, 2008
- Daily Outlook - April 3rd, 2008
- 1st Quarter 2008 Report
- March 2008 Report
- Daily Outlook - April 1st, 2008
- Daily Outlook - April 1st, 2008
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April
(33)
PERFORMANCE REPORTS
January 2008
February 2008
March 2008
1st Quarter 2008 Report
April Hypothetical 2008
May Hypothetical 2008
June Hypothetical 2008
2nd Quarter 2008 Report
July 2008
August 2008
September 2008
3rd Quarter 2008 Report
October 2008
November 2008
December 2008
4th Quarter 2008 Report
2008 Summary Report
February 2008
March 2008
1st Quarter 2008 Report
April Hypothetical 2008
May Hypothetical 2008
June Hypothetical 2008
2nd Quarter 2008 Report
July 2008
August 2008
September 2008
3rd Quarter 2008 Report
October 2008
November 2008
December 2008
4th Quarter 2008 Report
2008 Summary Report
Risk Disclosure
U.S. Government Required Disclosure: Commodity Futures Trading Commission, Forex,
Initial Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to participate in the foreign currency markets. Don't trade with money you cant afford to lose. This is not a solicitation nor an offer to Buy/Sell futures or options. WE DO NOT TRADE FUTURES OR OPTIONS. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed. The past performance of any trading system or methodology is not necessarily indicative of future results.
Risk Warning! Trading foreign exchange includes the use of margin and carries with it a high Initial level of risk which may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose nor should you ever invest borrowed funds. You should be aware of all the risks associated with foreign exchange trading, and seek advice from independent financial, tax and legal advisors if you have any doubts.
Initial Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to participate in the foreign currency markets. Don't trade with money you cant afford to lose. This is not a solicitation nor an offer to Buy/Sell futures or options. WE DO NOT TRADE FUTURES OR OPTIONS. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed. The past performance of any trading system or methodology is not necessarily indicative of future results.
Risk Warning! Trading foreign exchange includes the use of margin and carries with it a high Initial level of risk which may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose nor should you ever invest borrowed funds. You should be aware of all the risks associated with foreign exchange trading, and seek advice from independent financial, tax and legal advisors if you have any doubts.