Frequently Asked Questions

General

Do you have a downloadable PDF manual for product XYZ?

Unfortunately we do not offer any offline manuals at this stage. All the necessary information required should be found on the product’s specific page on this site. This ensures the content is always up-to-date should there be any announcements or updates.

If you do have any questions regarding a specific product and you cannot find the answers on the product’s site, please ask us via the Contact page and we will get back to you as soon as possible. We will also update our site accordingly to help future users who may ask the same question.

Will product XYZ always work for future releases of Trading Station?

This one we cannot answer and depends on FXCM unfortunately. We are not affiliated with FXCM so we cannot answer this on their behalf. However, we can say it is not the best practice in the field of Software Development to make a breaking change that is not backward compatible and it would be of poor choice of FXCM to do so, although it is a possibility.

If this was to happen, not only work MooMooForex’s products be impacted, but all indicators and strategies would be impacted. MooMooForex will strive to update their products as quickly as possible if such as situation does arise.

Will I be notified of future updates, found bugs, or any other announcements?

For purchases done via MooMooForex.com, clients will be notified accordingly if there are any critical announcements. However, for purchases done via FXCM Apps, we are not able to contact these clients as FXCM does not release client information.

To deal with this, we will soon be setting up a subscription based system where clients can sign up for updates. Stay tuned for this update.

Can you please explain to me in detail the logic in product XYZ?

MooMooForex is sorry but we are not able to release the intellectual property of any specific product. However, many of our products are the culmination of our research that has been made available in our Research blog. Perhaps if you search there you may be able to find out more.

MooMooForex strongly recommends using any purchased products in a DEMO environment until you are completely comfortable with how they work before running them in a LIVE environment. Additionally, all of our strategies are fully back testable in FXCM’s Strategy Backtester which allows you to test any number of scenarios and witness how the strategy behaves.

If after all this you still have concerns or questions, please use the Contact link and reach out to us.

What does Print Debug do?

Many of our products have a parameter called Print Debug which is used to print additional diagnostic information to the Event-Log. This can be useful in debugging any possible issues, or just understanding what is going on.

To find out how to view the Event-Log, please see the FAQ How do I view the debug logs?

Do you have a demo or trial version of product XYZ?

Unfortunately we do not offer trial or demo versions of our products but we try as hard as possible to ensure our product pages contain all the information you need to make an informative decision. If you feel the product information page for a particular product is missing something, please use the Contact us link and ask us for the information you require.

Can you customize product XYZ for me please?

Sure. MooMooForex will gladly accept and has extensive experience in custom developments for our clients. Whether it is an entirely new product, or a customization of an existing product, we can do it. Please see the Customization and Testimonials page for more information.

Trading Station

Where is the DailyFX Trading Station Back Testing and Optimization FAQ?
How do I load my custom strategy onto the Trading Station II platform?

FXCM already have answered this on their FAQ on the DailyFX Forum. Please see the following link: http://www.dailyfx.com/forex_forum/fxcm-trading-station-ii-marketscope-charts/449967-trading-station-back-testing-optimization-faq.html#post978201

How do I configure and activate an automated strategy?

FXCM already have answered this on their FAQ on the DailyFX Forum. Please see the following link: http://www.dailyfx.com/forex_forum/fxcm-trading-station-ii-marketscope-charts/449967-trading-station-back-testing-optimization-faq.html#post978203

How do I backtest a strategy?

Please see the FXCM website on the following link for more information regarding Strategy Backtesting: http://www.fxcm.com/products/trading-station/desktop/strategy-backtesting/

How do I optimize a strategy?

Please see the FXCM website on the following link for more information regarding Strategy Optimization: http://www.fxcm.com/products/trading-station/desktop/strategy-optimization/

Troubleshooting

How do I view the debug logs?

The Events-Log tab can be viewed via the Alerts and Trading Automation -> Show Events menu in MarketScope or under Charts in Trading Station. The screenshot below shows you the menu and in the background the Events-Log window with some diagnostic information.

If for some reason you have a problem and wish to contact us about it, please try to save the Events information as we may need it.

FXCM Show Events Log

What does this error mean? Market is closed. Any trading functionality is not available.

The error “Market is closed. Any trading functionality is not available” indicates the strategy tried to trade while the market was closed.

This can happen because strategies can be in running even when the market is closed. This is quite normal for a strategy to be running right through the weekend and this is not a problem as typically a strategy only actions on price updates. However, FXCM sometimes update market data while the market is still non-tradeable. This is very common in the hour or so before market opens each week.

The following is taken from FXCM’s Trading Execution Risks document.

PRICES UPDATING BEFORE THE OPEN

Shortly prior to the open, the Trading Desk refreshes rates to reflect current market pricing in preparation for the open. At this time, trades and orders held over the weekend are subject to execution. Quotes during this time are not executable for new market orders. After the open, traders may place new trades, and cancel or modify existing orders.

If the prices start updating while the market is still closed, a running strategy will see market updates and if the conditions are favorable, try to trade resulting in the above mentioned error.

If the strategy has handled this scenario properly, it should not negatively impact the strategy. It is also possible to develop countermeasures to avoid this scenario completely but according to FXCM there is no full-proof way to do this. For more information, see the following link on DailyFX: http://www.dailyfx.com/forex_forum/signal-strategy-fxcm-marketscope/622674-non-tradable-hours.html

What does this error mean? The value entered is either too far away from the market price or contains an invalid character.

The error “The value entered is either too far away from the market price or contains an invalid character” means your strategy tried to place an Entry Order with an invalid price, i.e. probably inside or on the wrong side of the market. Entry Orders must be placed on the correct side of the price depending on their Stop/Limit Entry order type, and cannot be placed at the current price.

The most typical cause for this error is when the propose entry price is too close to the market and the market moved/slipped in the instant the order was placed causing the proposed entry price to become invalid.

What does this error mean? The quoted price has expired and can no longer be hit.

The error “The quoted price has expired and can no longer be hit” typically means that the last received price is no longer tradeable.

There are two possible reasons that we are aware of for this:

1) The price expires and becomes stale. The dealer panel in FXCM Trading Station should show grayed out pricing in this scenario.

Essentially, prices for certain instruments are only “valid” for a certain amount of time. Prices are more likely to go stale when the market is not very liquid and the prices do not change often. The following is taken from FXCM’s Trading Execution Risks document:

GREYED OUT PRICING

Greyed out pricing is a condition that occurs when FXCM’s Trading Desk or liquidity provider that supplies pricing to FXCM is not actively making a market for particular instruments and liquidity therefore decreases. FXCM does not intentionally “grey out” prices; however at times, a severe increase in the difference of the spread may occur due to an announcement that has a dramatic effect on the market that limits liquidity. Such greying out of prices or increased spreads may result in margin calls on a traders account. When an order is placed on an instrument affected by greyed out prices, the P/L will temporarily flash to zero until the pair has a tradable price and the system can calculate the P/L balance.

Unfortunately there is nothing that could and one simply must wait until the prices turn active again.

2) Related to the above, some instruments such as CFDs have a Daily Break that restricts trading. The following is taken from the FXCM CFD Metals site:

GOLD (XAU/USD) AND SILVER (XAG/USD) TRADING HOURS

Gold and Silver trading will commence on Sunday at 22.00 GMT. Furthermore, there will be a daily break in gold and silver trading at 21.00 GMT and trading in Gold and Silver will resume at 22.00 GMT. During the break, you will not be able to place market orders, and limit/stops cannot be placed and/or amended. Full details of Gold and Silver trading can be found in the CFD Product Guide.

In this scenario, if a strategy attempts to trade during the daily break, the above mentioned error will be returned.

Help! I setup my strategy before I went to bed and the next day I turned on my computer to find no trades! What happened?

For a strategy to trade, the following four things are required:

1) FXCM Trading Station must be running.
2) You must be logged into your account in FXCM Trading Station.
3) The market has to be open, i.e., no stale/grayed out pricing.
4) The strategy has to be in running state.

If you power down your machine then Trading Station will stop running and so will your strategy.

If you log out of Trading Station then your strategy will stop running.

I cannot leave my computer running all the time. What should I do?

If you maintain an account balance of at least $5000, FXCM can provide you with a Virtual Private Server (VPS) free of charge. You can setup your VPS with Trading Station and your strategies remotely and have them running all the time.

For more information, please see the following link: http://www.fxcmapps.com/vps-signup/

What if Trading Station crashes or the VPS restarts?

For a strategy to be running correctly, the following four things are required:

1) FXCM Trading Station must be running.
2) You must be logged into your account in FXCM Trading Station.
3) The market has to be open, i.e., no stale/grayed out pricing.
4) The strategy has to be in running state.

That means if Trading Station crashes, we need it to restart, login, and ensure strategies are always running. Additionally, if the VPS restarts, we need it to restart Trading Station, login, and ensure strategies are always running.

How do I make Trading Station automatically login for me?

Automatic login is possible with Trading Station via the command parameters. Therefore, one can create a batch (.bat) file to run Trading Station and automatically login by following these steps:

1. Go to start > programs > notepad > copy and paste this into the document:

C:
cd “C:\Program Files (x86)\CandleWorks\FXTS2”
start FXTSpp UserName:XXXX Password:XXX Profile:XXXX

* Remove the ‘start’ if you would like the batch file process to hang around.

2. Type in your username, password and profile (Real or Demo) where you see the XXXX place holders.

Please make sure you keep the spaces between the username, password and profile.

3. Click file, then save as. Choose “all files” under the save as type option. Name the file and enter .bat after the file name (i.e. FILENAME.bat).

4. Save the file on your desktop or another location if you prefer.

Now you will be able to double click on the .bat file on your desktop to automatically log into your account.

How do I ensure Trading Station is always running?

This is a tricky and will require some third party software. However, chances are the provider of your VPS already has such software.

For example, BeeksVPS have a tool called POM that can be used to ensure a particular process (such as your special auto-login batch file) is always running. When the process is no longer running (for whatever reason, whether it crashed or you closed it), POM will restart it. For more information on POM, please see Beeks Support.

If you do not have access to such a third party tool, then at least you can ensure Trading Station is running whenever the VPS restarts by putting your specially crafted auto-login batch file in the start-up. See the following link for more information: http://windows.microsoft.com/en-us/windows/run-program-automatically-windows-starts#1TC=windows-7

Okay TS2 automatically logs in for me, but how do I ensure the strategies are running?

Trading Station 2 can be configured to automatically start/resume strategies upon start up. To do this, access the MarketScope 2.0 -> Strategies Options and enable “Start strategies after login“. The screenshot below should help you find that.

FXCM Strategies Auto Start

What about weekend maintenance and all that?

Unfortunately, despite setting up all of the above, there can be times such as weekend maintenance when FXCM’s servers are taken offline. This usually results in our connection being lost and our account being logged out. The main challenge with this is we have no way of knowing this has taken place, and we will not automatically try to login again.

FXCM Weekend Maintenance

Even if one was to detect this and try to login again immediately, it would fail as the servers are undergoing maintenance.

An ideal solution would be for FXCM Trading Station 2 itself to automatically poll the server and auto-login, but alas we do not have that benefit.

An alternative solution would be to schedule a process to terminate Trading Station one hour before market open, allowing it to automatically restart and login. Alternatively still, you could actually login to your VPS at least once a week at this time to check the server health and login to Trading Station.