Hello FPA Member Bond,
As a long-time fellow FXCM client both thru ATC Brokers IB and more recently directly, I can concur with you that since making its transition to a tight spread plus commission model in September 2014, FXCM has suddenly and consistently become quite deficient in providing open, continuous, and liquid markets during fast markets, like those that often surround news events. They have even apologized publicly for client lockouts during such.
.
I am not referring to my Keltner Pro results, because I have been dormant in testing this EA lately, due to external circumstances. However, in my manual trading I have experienced exactly the same situation.
I intend to follow-up on this issue with them and you, which appears unique to FXCM, even though they are large and liquid.
In my opinion this is shameful and worthy of further investigation.
.
I can assure you that those anomalies are particular to FXCM, and can not be placed on the shoulders of Keltner Pro itself.
We all know that live trading is much more difficult than theoretical models suggest, and that is why one must always use prudent risk and do due diligence on the liquidity providers with which we choose to associate.
Remember, the Forex markets are roughly in the same condition of the stock markets in the early 1900s. No central clearing, little or no regulation, bucket shops, and outright frauds.
.
For the unfamiliar I strongly recommend reading a sweet little book written a century ago: Reminiscences of a Stock Operator. Google it.
Once you sit for 3 hours on a toilet and read this, your universe will surely change, as did mine 30 years ago.
.
Despite that, a Drawdown of 5% used as the reason to pull the plug on this EA is not really appropriate, regardless of any poor broker execution.
You must carefully size your trading to accommodate your comfort level with the worst case scenario plus room for errors, to properly assess any model.
In my opinion this model is one of the very few likely to succeed unassisted in the long run, if operated on a fair trading platform.
.
Stay tuned,
AI