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Zulu/Saxo: I Won the Lottery

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Today I [finally] got SaxoTrader platform activated. I still received nothing from customer support to my e-mail, but called technical support and he was very efficient — the access problem was solved and key activated withing, literally, seconds.

On first log-on I was surprised to discover a ton of residual open positions. The positions were not visible on zulutrade log. I should admit that I made quite a number of manual trades of various sizes through zulutrade and this may have somehow derailed the system. The positions were profitable and I felt as if I’ve won a vacation in Miami. But the very fact of gross position mismatch between zulutrade log and broker account is alarming …

Once I closed all the residual open positions, I had a bit of more user experience of struggling with a really “sticky” long USD/CAD position. It was closed by the signal vendor, but it was displayed as open in Zulutrade log. The broker account was short. I clicked on “Close” — the trade added more short position in Saxo acc, but remained open in zulu. I clicked on “Close All Trades” in zulu — again, this added one more position to saxo and still remains open in Zulu. I squared the position in Saxo account and contacted Zulu with a request to remove the trade from the log. They said that the trades in the log will sync with trades in broker account and I only need to wait. Ultimately, it synced indeed.

The conclusions are: (1) Zulu to Saxo interface is unreliable and regular manual position checking is mandatory, (2) do not place manual trades through Zulu as this may somehow derail position match, (3) Saxo records closing trade as new trade rather than a trade to offset a previous position. As a result, a lengthy trade log gets created in the broker account and it needs to be cleaned manually.


Written by A.S.

November 6, 2009 at 8:48 pm

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