Hi, this is from my chat with support:
David:
I have been using the scripting to automate trades with FXCM. I was wondering if there is documentation specific to the options available with FXCM. I am familiar with all the easylanguage documentation, but have found the at times FXCM thinks I am starting a hedge trade when in fact i am trying to close a position. Thanks.
TS SUPPORT:
You are right
TS SUPPORT:
At the moment, FXCM executes all the signals using hedging.
TS SUPPORT:
We are going to develop a workaround for this problem within a next few months.
TS SUPPORT:
Meanwhile,
TS SUPPORT:
what you could do is contact FXCM
TS SUPPORT:
And tell them that you want the hedging option turned off.
David:
ok. i never use it anyway.
TS SUPPORT:
They will ask you to fill out a form after which the hedging option will be turned off.
TS SUPPORT:
In future, with the workaround I mentioned,
TS SUPPORT:
the signals will be interpreted correctly no matter whether the hedging option is turned on or not
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David:
and commands specific to setting / changing the stop specific to a trade, rather than creating a new trade?
David:
if the stop is being set / changed *after* the original trade is made?
TS SUPPORT:
One moment please
TS SUPPORT:
In the current version of MCFX, stop and limit orders are calculated locally on the computer and then sent as the market order as soon as the conditions are met. We are now working on implementing real limit and stop orders which will be sent to the broker in advance. This feature will be added in Q1 2008
David:
despite all the issues you guys have, i have to say i am pretty happy with your system thus far. was with fxtrek for a few years and their software is clunky. I am glad I moved. I have been working on automating the strategies I currently do manually (so i can get some sleep). Thus the reason for my question.
TS SUPPORT:
Thank you, David
David:
At present if the hedging was turned off, the way you described stops and limits could be used to exit positions?
TS SUPPORT:
That's right
David:
ok, i am just asking them to do that.
TS SUPPORT:
Ok, let me know how it goes.
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David:
all good. for demo accounts with FXCM, you just have to chat with their tech support to turn off hedging. may i post this to the forums for others to see?
I am using a demo for automating some of my trades until I trust it enough with my live account.