Shutting Down A Bot

While I have left the door open to use the Octane bot in the future, I won’t be doing that for a while. Once I decided to close the bot down, what did it look like?

First, after giving customer service every chance to fix the problem, I received this response, “There is nothing else we can do unfortunately.” Once I received this reply, I had three choices. (The 3rd choice was one I included.)

  1. Shut down all of the trades that preceded April 23rd. Then, let Octane handle the rest of them
  2. I would monitor the trades before April 23rd myself. I would need to shut them down when they were profitable, and then Octane monitored the rest.
  3. Stop trading on the bot and shut down all of the trades. Then, move my money to a place where it could be managed by a bot I trusted.

After all of the frustration I experienced, the 3rd option was the only one I could tolerate. If EFX makes upgrades, I might reconsider down the road. This is what the rest of the process looked like:

  1. Turn off “auto trading.” Shut down all of the trades. To make myself feel better, I shut down the profitable trades before closing the ones responsible for the drawdown. This gave me a brief euphoria before the trade closures dug into principle.
  2. Log into my broker and move the money from one account to another.
  3. Once the money arrived in The Fed/Gold Digger’s account, I logged in to my VPS and went through every Forex pair these two bots traded. I changed the lot sizes to reflect the additional funds I transferred into the account.

Moving funds and eating drawdown losses does not help me reach my goals. Early next month, I will release a post detailing what practices I will implement to prevent another “April.”

Questions? Always welcome!

About Andy G

Semi-retired dad of 4 biological kids and many others kids. Eyes on eternity while enjoying the blessings this life has available.
This entry was posted in algorithmic trading, drawdown, Gold Digger, Octane, The Fed and tagged , , . Bookmark the permalink.

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