I have been running a demo account on Tradency (Alphari Systematic) for a couple of days. The platform made some trades that make me think twice before considering going live with Tradency. I limited myself with a 1000 € demo account. Maybe small but i want to see what would happen. I added the following strategies.
Maybe a lot but i changed the position size to 10.000 for all strategies and i have spread the risk over 4 different pairs. First thing i noticed that i didn't ask and i don't like. Look at the trades Velociscalper made.
Well i added the Velociraptor to my strategies so it could trade 10.000 euro (= 1 mini lot). But i see it has opened 2 sell orders of each 10.000 € and the second order was opened 3 seconds after the first one! It made profit on both trades. Yes that is good i agree...but how many trades can this strategy open like this. And as a trader on a live account i ask myself : "what is the use of opening a second position 3 seconds later?" I can't find any setting that can avoid this in the platform. So what is the use of telling the platform to trade mini lots if it can open as many mini lots as it wants??????
Second example and more severe. I also added Tactico. Look at the trades it made. 2 of them are still open.
Same problem. It opened 2 X a mini lot. And lets look on the chart how it trades!!!
Well i have my doubts of going short on that spot but maybe i am wrong. Above chart is the 1 hour chart. First of all it opened 2 mini lots. One mini lots was opened 1 min after the first! So again what is the use of adding a strategy with a mini lot if it can open as many as it wants! And why open a second mini lot 1 min later? If you know the strategy behind that well let me know. In the strategy description the don't talk about opening more than 1 mini lot.
Well the trade went in the wrong way. I am not surprised of course. But what i can't understand is that it doesn't seem to care about that. The positions are still open. The moment i am writing this the 2 mini lots have a negative P/L (profit/loss) of -350 euro !! (-5115 pips in loss)
So conclusion. Watch out it is not because you specified the position size in Tradency it can't take bigger positions. Well not in 1 trade of course. It is clever enough to open the second one a few seconds later!
Well if you ever decide to trade live with Tradency....trade safe! :-(
You can control Max Positions. In your PORTFOLIO select the Money Management TOOL (wrench) and set the MAX POS.
ReplyDeleteI'm looking at it right now and dont find this MAX POS you're talking about. Where is it?
ReplyDeleteThe "max positions" is made available by some tradency versions (e.g. that provided by FXCM) but not others (e.g. that provided by Alpari).
ReplyDelete