FXEngine Seizes

After 30 trades and 9 weeks of automated trading via FXEngines, I am abandoning ship.  It isn't because I've lost money because believe it or not, I'm up 49 pips.  The primary reason is because I just don't see how this system of trading will benefit me in the future. 

First, I just do not want to be reliant on anyone but myself when trading.  This method of trading put a little bit of discretion in your hands but not enough for me to feel like "I" had a good trade when the trade made money. 

Secondly, initially I thought that automated trading may be a good way of supplementing my discretionary trading income in the future.  I just don't feel that it can.  The trades that were profitable were mostly the medium volatility news trades that slowly moved in your favor.  This could have just as easily done manually.  The trades that this system is advertised to catch were just not possible.  This could very well be that FXCM is the broker and the limitation is with them.

This was certainly an experience, one that was educational.  How? It really shows that if you remain disciplined and consistent, you can come out on top or at least even.  Like I said, I'm ending my relationship with FXEngines with a 49 pip profit.  In all, I made 30 trades.  12 were winners, and 18 were losers.  The key here was also money management and the tighter stops.

To see the weekly results, go to http://www.forexproject.com/FX_Engine_Performance/

To see each trade by week, go to http://www.forexproject.com/Forex_Engine_Trades/  

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