Fxcm

This is a discussion on Fxcm within the First Steps forums, part of the Reception category; LOOK I was just about to go long during NFP GBPUSD as they recommend on FPA. As soon as a ...

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Old Jan 19, 2011, 10:53am   #8
 
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Re: Fxcm

LOOK

I was just about to go long during NFP GBPUSD as they recommend on FPA. As soon as a clicked on the buy button price moved in my favour. Before I knew it those b@stards at FXCM had widened the spread to 6 and price gapped over my 5 pip stop. Price moved so fast down that it wiped out my whole £50 account and left me owing a further $20.

THOSE THEIVING B@ASTARDS: mad:
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Old Jan 19, 2011, 12:34pm   #9
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Re: Fxcm

JtheD started this thread I think its always a risky business trading these siglas.
Capital took 21 pips off me this morning at 9.30 in spite of a ten pip stop and limit.
The fact that the market only appeared to go down makes me think any of the brokers can do anything they want and get away with it at spikes.
Perhaps I give in too easily but I think they are best avoided
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Old Jan 19, 2011, 12:58pm   #10
 
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Re: Fxcm

Five pips is nothing for currencies. It is within random volatility. Up to maybe 20 pips it is random. If you want to make money with currencies the only way to beat the banks is by trend following.
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Old Jan 19, 2011, 1:05pm   #11
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Re: Fxcm

JtheD started this thread Good strategy and so totally agree. Very important with currency to give it plenty of room to breathe
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Old Jan 19, 2011, 1:27pm   #12
 
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Re: Fxcm

I have used FXCM for a few years. Generally good but the slippage and some movements makes you wonder if the software is clever enough to just trigger your stop before going in the direction of the trade you just had open. To be honest I am sure that this is just standard and it is just difficult to deal with the fact that you over leveraged and made a bad call etc..
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Old Jan 19, 2011, 4:19pm   #13
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Re: Fxcm

JtheD started this thread
Quote:
Originally Posted by scottyw View Post
I have used FXCM for a few years. Generally good but the slippage and some movements makes you wonder if the software is clever enough to just trigger your stop before going in the direction of the trade you just had open. To be honest I am sure that this is just standard and it is just difficult to deal with the fact that you over leveraged and made a bad call etc..
Yes it looks like a good platform nad the Daily FX link for instant up to date info is excellent. As you say trading a spike is always going to be a risky business. I think an OCO order abou 10 or even 20 pips from the starting point in either dierction is not a bad idea
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Old Jan 19, 2011, 4:47pm   #14
 
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Re: Fxcm

Quote:
Originally Posted by JtheD View Post
Yes it looks like a good platform nad the Daily FX link for instant up to date info is excellent. As you say trading a spike is always going to be a risky business. I think an OCO order abou 10 or even 20 pips from the starting point in either dierction is not a bad idea
It's terrible, they must make....HUNDREDS of pounds with their dishonesty
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