Day Trading & Forex Forum

Dave1971

Has anyone else had any communication from fxmaster this week? I know 3 or 4 days without a signal is not particularly unusual but Ivorm's post has me a little concerned?

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An open mind is always better than an open mouth...

Edster

I'm interested to know if anyone is using this system to spread bet and what effect it's having on the total pips.
Also, do you have to put your trades on 'out of hours' (for UK) and if so what spread bet companies offer this.

Cheers,

Edster

Tabasco

I got 2 signals on USD/JPY and GBP/USD today

Dave1971

I spread bet it through capital spreads. Due to the way signals are sent I normally place an order at the entry level, and so far have had no problem getting them filled. Sometimes there can be a delay of a day or two before an entry target is hit, occasionally it gets cancelled without being hit. i.e the latest trades on cable and USD/JPY came through at 6.40pm last night but the entry levels have not been hit yet.

Undoubtedly spreadbetting this service will erode the net profits but on the historic performance quoted I am willing to keep it with SB for the time being , I may move to DA if and when the service proves its consitency. (i.e. to me in the form of actual growth in my trading bank.)

Dave

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An open mind is always better than an open mouth...

Edster

OK, thanks for the reply Dave.
Do CS trade all 4 that FXMaster send signals for? What are the spreads like?

Cheers,

Edster

Dave1971

I use the rolling daily trades which are 4pips for GBP/USD & USD/JPY, 5 for USD/CHF and 3 for EUR/USD. They do however make a cash debit to your account for every daily rollover, which on longer trades would be expensive but, these trades rarely run more than a few days.

Dave

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An open mind is always better than an open mouth...

Dave1971

I have just had my first bad experience on this, albeit it is down to me using Capital Spreads not a problem with fxmaster.

A new trade was notified yesterday to buy EUR/USD @ 1.3215, my order with CS was duly placed. It got filled at 20.51 according to the confirmation e-mail. CS put their automatic 160pip stop on the trade, but by the time I went online to amend it down to fxmaster's 80pips about 20mins later, it was out of hours and CS would not allow me to amend it.

By the time I logged on this morning I found that CS's auto stop had been hit before I got chance to amend it, at 1.3055 at 9.02am, so a nice 160pip loss

On a seperate note they just missed a very good trade this week. They put out a sell signal on Cable at 1.8950, which didn't get hit although it reached 1.8932, and has been as low as 1.8636 this morning.

Hopefully this will both be proven to be exceptional occurances !

Dave

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An open mind is always better than an open mouth...

Edster

Yeah Dave. That's the only problem with CS. No 24 hour trading. Can't you set your stop to 80 pips when you place the buy order or can you only amend it once it's been filled?
If this is a problem, what other companies do people use?

Edster