Problem with Esignal and FXCM

[skyline18]

Hi,

I am currently trading with a demo account through FXCM using eSignals charts and placing orders through eSignal. I am having a few problems though.

When ever my take profits or stop losses are hit an oposite postion opens to the trade that is trying to be closed.

Eg. If a long trade hits its take profit (or stop loss) a short postion will be opened at that price insted of the trade being closed.

I'm looking to open a "real" account with FXCM next month and would like to know if this problem can be solved for obvious reasons.

Also will I be able to intergrate FXCM with eSignal 11 soon?

[eSignal_AveryH]

Skyline18,

We're working on a new release of the FXCM plug in that will better handle hedging.

The default behavior for most broker APIs would be if a person is holding a long position a sell order would close that position our. With FXCM this logic is not used and so we're working on reconfiguring the Bridge to add the functionality to use Buy and Sell to Close flatten positions.

A new plug-in should be available for eSIgnal10.6 just about the time FXCM plugin releases the eSignal 11.2.

[skyline18]

Thanks AveryH

Any word about the release date of the new plugin for FXCM?

[eSignal_AveryH]

We're continuing to try and work with FXCM to resolve this. As of now we don't have a solution at hand.

AveryH
eSignal Support

[tbfx]

AveryH,

I am experiencing similar problem regarding closing positions and just came across this thread. Could you please advise if this problem has been resolved in the last 5 years.

[eSignal_AveryH]

Hi tbfx,

Yes, we've updated the FXCM plug-in that allow users to properly close out of positions, however you have to be sure to use the correct functions on accounts that have hedging enabled. The new plug-in is available in the eSignal 12.1.3798 build.

AveryH
eSignal Support

[tbfx]

Thanks AveryH,

I've downloaded eSignal 12.1.3798 build. My account seems to have hedging enabled, and it also seems I'm not using the correct functions: I'm trying to close positions using the buyMarket() / sellMarket() functions, but this only opens a hedged position instead of closing the positions. Could you please advise which function I should be using to close out positions.

Kind regards,
tbfx

[tbfx]

I've tried using the closePosition() function and this seems to be working.