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Does anyone know anything about a broker called Interbank FX ?

  • #21
  • Feb 10, 2005 10:00am Feb 10, 2005 10:00am
Autofx - I know your post was just 4 days ago, but how's it been going with Interbank FX? The info on their website is impressive.


Quoting autofx
I have started demo trading with InterbankFX and am quite impressed.

They support automatic trading quite nicely. They have a canned MACD
strategy that works well. I attached it to 15-minute and 30-minute GBPUSD
charts and saw good results. I changed the default 40-pip TakeProfit
parameter to 135 pips. Much better! Only a few exits actually grab the
135 pips, with the rest taken on intelligently filtered MACD crossovers.
The strategy uses NO STOPS. You could program them in without too much
trouble if it would make you feel better.

Their servers seem very stable and I won't be surprised to see myself going
live with them in a couple of months, using them for exclusively automatic
trading.
  • #22
  • Feb 10, 2005 12:04pm Feb 10, 2005 12:04pm
John,

Quite well! I've seen five or six trades execute automatically, two of which
I closed manually. My demo account is up $1200 -- only a couple of losing
trades, and small losses at that, despite NO STOPS. I've yet to see any kind
of connection outage. Their charts behave in some annoying ways, though.
There was a huge spike earlier in the week, and since the app fits all the bars
on the window, the rest of the bars are scrunched down so as to be
unreadable.

Overall, it looks viable.

I was also looking at CMS Forex's web page yesterday. I see they've
enhanced their user's guide. I've seen that some people who trade with them
are reporting better stability. CMS has a more mature product than
InterbankFX.

I think both are more forward-looking and fair brokers than
some of the bigger guys.
Bob/autofx
  • #23
  • Feb 10, 2005 12:22pm Feb 10, 2005 12:22pm
Thanks autofx - this is interesting.

About the chart problem - http://www.fxtrek.com/ has the same problem. I am most comfortable with their charts but this is one thing I don't like about them.
  • #24
  • Feb 10, 2005 5:02pm Feb 10, 2005 5:02pm
John,

I'm willing to overlook that. But it is annoying.

Anyway, my demo account is up $2,200 since last Tuesday, and this is
trading with one standard lot. I closed a couple of trades manually but for
the most part it's been automatic trading.
Bob/autofx
  • #25
  • Edited Feb 12, 2005 1:43pm Feb 11, 2005 4:27pm | Edited Feb 12, 2005 1:43pm
Here is a trading record from automatic trading I've been letting run on an
InterbankFX demo account.

It was very easy to set up. It's the "canned" MACD strategy with the
TakeProfit setting at 135. I attached this to the following charts: 15-min
GBPUSD, 30-min GBPUSD and 60-min USDCHF.

This strategy is quite similar to my System 1. My entry criteria are simpler,
and I exit unconditionally at certain times of day, and I don't open any
trades on Sundays. Also, I use stops whereas the InterbankFX strategy does
not.

Below is a link to the MQL code for the strategy I'm trying out. As comments
inside the code, I show the currency pairs, timeframes, stops and take-profit
limits I'm using.

http://members.cox.net/autofx/Resour...MACDSample.mql
Bob/autofx
  • #26
  • Feb 12, 2005 8:52pm Feb 12, 2005 8:52pm
Autofx - how do I make this work? I checked the box that allows it to make trades. So as long as I have the trading station up and running and the little smilie face is on the screen it will make trades?

Quote
It was very easy to set up. It's the "canned" MACD strategy with the
TakeProfit setting at 135. I attached this to the following charts: 15-min
GBPUSD, 30-min GBPUSD and 60-min USDCHF.

If you have this on the 15 and 30 minute GBP/USD chart does that mean it will trade against each of those charts, affectively double-trading the currency?
  • #27
  • Feb 12, 2005 9:16pm Feb 12, 2005 9:16pm
Yes John. And the positions can be in opposite directions, as they say they
support hedging. However, I have not yet seen this in my demo trading so
far. But I'll try to keep everyone up-to-date on these things.
Bob/autofx
  • #28
  • Feb 14, 2005 7:52am Feb 14, 2005 7:52am
Quoting autofx
Yes John. And the positions can be in opposite directions, as they say they
support hedging. However, I have not yet seen this in my demo trading so
far. But I'll try to keep everyone up-to-date on these things.
Autofx - I setup my trading station yesterday and it has been running all day and all night (EST). This is a demo account. I attached the MCAD expert to the GBP 15 and 30 min chart. I have the smilie face. I don't see any trades in the trade list. I do see entries in the journal list though. Things like "Expert 'MCAD Sample': buy 1.00 GBPUSD at 1.8665 [slippage 3], sl: 1.8465 tp: 1.8800.

I thought this would enter the trades automatically for me. Can you explain this one to me? Thanks.
  • #29
  • Feb 14, 2005 2:57pm Feb 14, 2005 2:57pm
John,

Did you click the "Trade" tab at the bottom? This shows the open trades.

You will need to be patient, as this strategy is quite selective in where it
enters. It appears to pick some nice high-probability setups.

I believe InterbankFX allows only one trade to be on at a time when trading
with Experts. Maybe there's some way to override this, whether it be via
MQL code or some option on their trading app. I'm still not thorougly familiar
with their platform. And I'm no MQL wizard, but I've learned enough to modify
a couple of strategies to add/delete features as I saw fit.
Bob/autofx
  • #30
  • Feb 14, 2005 6:59pm Feb 14, 2005 6:59pm
Thanks AutoFX. The Trades tab does not show any trades. I'm leaving it running 24 hours a day and waiting to see what happens. Again, this is a demo account.

There is a line in the Expert code that says "If TotalTrades<1 then". This looks like the place that the trades are limited to 1 at a time.
  • #31
  • Feb 14, 2005 11:50pm Feb 14, 2005 11:50pm
autofx,

When have you set up to exit unconditionally and also what is your criteria for a stop? Trailing, higher highs/lows, etc..

Thanks
  • #32
  • Feb 15, 2005 1:48pm Feb 15, 2005 1:48pm
John,

Actually I think you're right -- one trade at a time. Note that the conditions
over the last couple of days have been poor for triggering trades on this
strategy. It's quite selective and waits for higher-probability setups.

nuc,

No unconditional exits on this thing. No trailing stops. Quite simple
in-and-out based on static stops, limits, and "major" MACD crosses.
Bob/autofx
  • #33
  • Feb 15, 2005 9:48pm Feb 15, 2005 9:48pm
Autofx,

So the system has the stops, protective and profit. already programmed? So basically startup the expert advisor and just let it run?

Thanks

Also, no trades yet since I put it on the charts last night. It should be interesting to watch. I also liked how on your last two trades you were putting on trades with 90 lots

Too bad it wasn't real $$$$
  • #34
  • Feb 16, 2005 10:49am Feb 16, 2005 10:49am
nuc,

That is correct.

A MoneyTec member posted this AlwaysInPlay script. I cleaned it up a little.
The backtesting results on InterbankFX are just nuts, and people are
wondering why they can't get the same results in forward testing.

It is because the backtest assumes all entry orders are placed and filled.
In reality, some are not even placed, much less filled.

While a trade trigger's criteria are valid, the script tries to place an entry
order, but many errors are seen in the journal while this is being attempted.
This has stopped many people cold, thinking there is something wrong with
the script. This is simply the little script working hard to get you in at a good
exchange rate! The action has to move to the right side of the order, a
certain distance away, for the order to get placed. Once placed, the orders
are usually filled.

To increase the odds of getting into trades, I opened multiple 4-hour charts,
all on unique currency pairs, and attached the script to each one.

Sweet!!!

For those who desire something a little more middle-of-the-road, they can
try attaching my version of MACDSample to the 15-min and 30-min GBPUSD charts.

This is a very simple script that trades a very straightforward strategy.
A couple of comments inside the script will remind you what currency pairs,
timeframes and stop/limit levels to try. I have backtested and forward
tested this, and have been pleased. The first few trades of my
demo trading record were per this strategy.

Good luck!
Bob/autofx
  • #35
  • Feb 16, 2005 1:43pm Feb 16, 2005 1:43pm
Quoting autofx
I believe InterbankFX allows only one trade to be on at a time when trading
with Experts.
This is wrong. It's all controllable with the scripts. I'm still no MQL expert!
Bob/autofx
  • #36
  • Feb 16, 2005 7:39pm Feb 16, 2005 7:39pm
Statement00

Statement01

Statement02
Bob/autofx
  • #37
  • Feb 17, 2005 7:18pm Feb 17, 2005 7:18pm
Quoting autofx
Statement00

Statement01

Statement02
I setup the AlwaysIn expert on 3 charts last night. All charts are 4 hour charts. It is showing lots of activity in my Journal, but it only made one single trade in the 24 hours it's been running.

Lost $70.
Lost about $2500 with the MCAD sample.
All demo money though.
Not having much luck with these experts.
  • #38
  • Feb 18, 2005 5:21pm Feb 18, 2005 5:21pm
Can anybody remind me how to attach a script in Metatrader. What directory and so forth? Thanks in advance.
Don Life is expensive, but includes a free trip around the sun.
  • #39
  • Feb 19, 2005 12:42pm Feb 19, 2005 12:42pm
Quoting traderone
Can anybody remind me how to attach a script in Metatrader. What directory and so forth? Thanks in advance.

First copy the expert to the MT directory

C:\Program Files\MetaTrader\experts

or where you have installed MT.

Then in MT go to view and click on navigator.

You will see a directory tree.
Select your expert under expert advisors.

Double click on it and it will attach it to the chart that is the focus.

A confirmation box -click yes

Then the expert properties. Make sure to check enable live trading to get the smiley face.

smiley face = on
frowning face = off


HTH
Forex Trading: The hardest way to make easy money.
  • #40
  • Edited 3:18pm Feb 19, 2005 2:00pm | Edited 3:18pm
Quoting John
I setup the AlwaysIn expert on 3 charts last night. All charts are 4 hour charts. It is showing lots of activity in my Journal, but it only made one single trade in the 24 hours it's been running.

Lost $70.
Lost about $2500 with the MCAD sample.
All demo money though.
Not having much luck with these experts.
John,

How long have you run them?

MACDSample has been updated.
Bob/autofx
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