QuickTradeFX by Aaron Clarke (Agora)

[StevieP]

I asked why no trade was reported for 5th December when the range was 18 pips, this was the reply;

“I follow a 20 pip minimum rule on o/n ranges.The 15 pip rule in the manual is an absolute no go area that I had to introduce as people were trading on any range. Having had the system running with a number of users I am aware that not everybody has the patience to sit through periods of no trades on the 20 pip rule”.

I have asked why he uses a different figure to the one in the manual without letting users know but not had a reply yet! I had a winning trade on Friday 16th as the 15 pips was just about met on Shortspreads but was surprised to see that the weekly update also records a win despite the comment above!

[Reviewteam]

What !!!!!

We are using the 15 PIP rule as it's what's stated in the manual and we have heard nothing to the contrary.

We also have the following requests to support outstanding having requested answers at least 3 times over as many weeks (we made the assumptions in brackets) - Support is poor we agree:

- Can we use Smart Live Markets? (We have)

- Please can you send actual trade results for the last 3 months, Entries, Stops and Exits? (We have assumed we cannot have these)

- You don't mention Risk per trade in the manual - we assume 2% is acceptable? (We have)

- When are open trades which do not hit Stop or Target closed manually - We read it as 22:00 GMT the following day - What about on a Friday? (We close at 22:00 GMT the next day, 22:00 GMT same day on Friday)
- We assume that both trades can be triggered in one day, e.g. the Long can get triggered and win and then continue upwards to trigger the sell order? (We leave both orders in place until cancellation time specified in the manual)

It is a shame that support is so poor and vague - However, it is somewhat reassuring to know it is not just us.

[zorba_g]

RT - in the weekly updates, one of the questions was addressed:

Both trades triggering: basically he said that the results don't change much between treating the trades as independent or 'OCO' (one cancels other). Which is weird but at least answered.

I find it odd that you haven't had a results spreadsheet from support as it's normally run 'in house' by Agora and doesn't require proper thinking. Please do let us know when they do finally cough up!

Z

[StevieP]

Hi Review Team,

I'm also still using the 15 pips.

Yes as the trades are separate it is possible for both trades to be triggered and this has apparently happened several times over the testing periods with both winning or a win and a loss but never with both trades losing.

Originally I was mistakenly placing the trades as OCO (I didn't think the manual was very clear on this point) Aaron has since said that looking back over the long term it wouldn't have made a significent difference to the performance

Trades that haven't been triggered should be closed at the end of the day but any open trades can be left until 22.00 the following day at the latest. I was originally unsure if you had an open trade from the previous day whether or not you would still place new trades the following day (assuming not, I wasn't doing) - again It took a few emails without getting a clear answer to this. I was left assuming from the published results that you do in fact place new trades as well.

Although it hasn't happened to me I've come across another user who then had the problem of trades placed on consecutive days overlapping in different directions with the latter one to be triggered canceling the first if it was still open (hope that makes sense). We've had no clear answer regarding how to avoid this so any help would be greatly appreciated.

Apparently your own preferred trading platform is fine although as always we have to accept that there will be the odd discrepency when things get close to targets, stops etc.

As far as I know the risk isn't advised so is up to the individual.

StevieP

[Reviewteam]

Thanks for the posts guys.

Z - We have again requested official results.

StevieP - Agreed, the manual is not specific enough so we decided against OCO and chose the approach as per previous. Regarding the "issue" - This will be the case if your broker does not support "hedging", meaning you can be both long and short the same instrument at the same time.

[StevieP]

RT

Thanks for the tip on hedging, I'll contact my broker and ask - surprised the manual doesn't cover this as with the system as it is this could happen quite often.

Cheers

StevieP

[Reviewteam]

You are welcome ... And, agreed.

[Reviewteam]

We have just posted our Quick Trade FX Review.