Appealing on price quote - anyone has good experience with it?

[dberliner]

Hello,

I was holding a short position on EUR/JPY before the Non-farm Payrolls announcement today at 1:30 GMT. My Capital Spreads low on the chart showed 121.96.

I've checked with various other brokers and Forex packages and the low shows 121.91. As you probably understand, that lower low would have been good enough for my exit order.

I'm not saying that CS is specifically targeting my limit orders, but that is quite suspicious that almost all other vendors have lower prices.

First, I'd like to know what your 3-4 minutes post NFP report low is, for comparison sake, if you don't mind.

Secondly, I'd like to know if any of you have any experience - good or bad - with trying to appeal to these companies on such cases.. I can show them, of course, the evidence from the other chart providers. I'm just wondering if I even should take the time to bother.


Thanks,

Dana Berliner

 

[DionysusToast]

I wouldn't - it's a bucket shop. Read the small print.

 

[Paulie_5]

My low : 121.87 (IG Index)

 

[Black Swan]

Hello,

I was holding a short position on EUR/JPY before the Non-farm Payrolls announcement today at 1:30 GMT. My Capital Spreads low on the chart showed 121.96.

I've checked with various other brokers and Forex packages and the low shows 121.91. As you probably understand, that lower low would have been good enough for my exit order.

I'm not saying that CS is specifically targeting my limit orders, but that is quite suspicious that almost all other vendors have lower prices.

First, I'd like to know what your 3-4 minutes post NFP report low is, for comparison sake, if you don't mind.

Secondly, I'd like to know if any of you have any experience - good or bad - with trying to appeal to these companies on such cases.. I can show them, of course, the evidence from the other chart providers. I'm just wondering if I even should take the time to bother.


Thanks,

Dana Berliner

You should know by now that all chart prices are indicative only....or does your paranoia not extend further than your 0.05 missed winner?...:whistling. BTW, IG shows 121.88, I was long, got stopped out, went back in short at 122.50 ...
You have to take on board that there were more spikes than a Vlad the Impailer dinner party at 1:30...

 

[GammaJammer]

FWIW from interbank pricing..... 121.75 printed once on EBS but that was definitely definitely a mis-hit. Market was nowhere near at the time. There were a total of three prints only below 122.00 immediately after NFP. They were the aforementioned miss hit at 75, once at 82 and once at 99. As eurjpy is essentially half it's own liquidity and half derived from usdjpy / eurusd pricing realistically you need proper time and sales data in all three in order to construct an accurate picture. Will take a look Monday if I have time. Suggest you check your leg prices and do the same as a starting point.

Hope that helps

GJ

 

[foredog]

If i'm not mistaken then there was over 100pt range in about a minute. If Capital Spreads did not fill you at the low of the day then I'm sure it was on purpose as they really can't spare the extra few £££ and not because they probably had hundreds of orders going off in many markets at the same time and were probably filling some people at 122.01 when price was 122.51 by the time they saw the order and wondering how the hell they've lost £££££ in a few seconds. I believe the old term was FAST MARKET and if this was declare then market makers did not have to quote firm prices.

It is really annoying when this happens to you, but shoot happens, thats the nature of the market and it's not a one way street it happens to the market maker as well and sometimes with 5 or 6 trades at once...you can be sitting there and price gaps down X points and you sell Y amount to 5 clients and by the time you go to click and cover it the price is already 10pts against you.......what do you do, cut £2000 instantly or wait and see if it comes back. Never nice whichever side you are.

 

[ccclarette658]

Hello,

I was holding a short position on EUR/JPY before the Non-farm Payrolls announcement today at 1:30 GMT. My Capital Spreads low on the chart showed 121.96.

I've checked with various other brokers and Forex packages and the low shows 121.91. As you probably understand, that lower low would have been good enough for my exit order.

I'm not saying that CS is specifically targeting my limit orders, but that is quite suspicious that almost all other vendors have lower prices.

First, I'd like to know what your 3-4 minutes post NFP report low is, for comparison sake, if you don't mind.

Secondly, I'd like to know if any of you have any experience - good or bad - with trying to appeal to these companies on such cases.. I can show them, of course, the evidence from the other chart providers. I'm just wondering if I even should take the time to bother.


Thanks,

Dana Berliner

There is no appeal.

What you experience is a direct result of not taking the time to understand how the markets work, in what venue you are trading, and what factors affect the likelihood of getting your trade filled. It is not cured by complaining to bookmakers.

This is a profession for responsible adults, not a silly little game which anyone can play just because they happen to have a computer and an account, or for spread betters playing £2 a point.

You are trading an OTC derivative against one counterparty who make a market, choosing the price at which they will deal, subject only to the very broad regulatory restriction that the price must relate to the underlying market on which it is based. In a fast market where quotes from different liquidity providers vary and no volume is published you will find it very difficult to "prove" anything.

If you traded on an exchange would you call operations to complain that your order was not filled, and as "proof" for your "appeal" cite the fact that a handful of contracts traded at your price?

You appear not to understand any of this yet you are trading when you ought to be learning. Dereliction. You will get exactly what you deserve.

 

[foredog]

Yay Socrates or his spawn Newtrader survive!!!!

 

[Black Swan]

Oh, and my Alpari account/meta trader chart shows/was quoting 122.886.... So,did you freeze, stamp your 'ickle feet, pick up the phone and annoy the 5hit out of CS, or did you grow a pair and carry on trading, bank loads of pips and laugh off your small inconvenience now lost in the hazy memory of all your successes today...?