FXengines

New comment
 

Hi,

Is anyone here using the FXengines website to place their trades?

I am a little wary about their research. A few years ago they published a paper on how pairs moved that they have since retracted. They are now sending these emails categorizing US news events with a "Star" based rating. I have started following their research here but I am doubting their research here too.

For example, they categorized today's (8/17/06) 8:30 am (NY Time) as a 5 star event, while it was categorized as possibly non volatile both at forexfactory and fxcm sites. The news did not provide much of a move.

If you have any comments on this item, please post them.

Thanks.

 

Well I have been demoing them --

and so far they have lost me lots of pips

Today at fomc I decided to try manually trading euro with it -- opened fine, then came fomc release and I tried to close with 3 pips profit. It spun and spun and spun saying executing -- and finally closed with 53 pip loss

Meanwhile it tried to open a long (as engine rules) once euro started out long -- but never got the order through.

I personally cant see them doing much business -- certainly not from me

 

FXengines have been experimenting with a lot of models for the last few years. However, they haven't stuck to any one model and that is perhaps indicative of something. Now they are into news trading and that too using FXCM!!!! You got a taste of how they operate today.

Any comments on their star based ranking system of the news events?

 

A Day Late & A Dollar Short

FX Engines is all about auto-trading the news. Great concept, but everything I read in various forums suggests that retail brokers, including the Big O, are making this increasingly difficult to do.

After about a month of demo-trades with FX Engines, I'm so far in the hole they'll never climb out. I now only check their results for entertainment value.

They're trying to do something that can no longer be done!

 

I also briefly tried out FXengines for a few weeks, for many reasons besides the fact that it wasn't profitable didn't like it. Moved on..

New comment