neil
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Newtron Bomb said:
Not quite...FXCM gaurantee your stops etc...I just spoke to them on "chat"
http://www.fxcm.co.uk/
Forex Trading - December 2003
- Thread starter Newtron Bomb
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Not quite...FXCM gaurantee your stops etc...I just spoke to them on "chat"
http://www.fxcm.co.uk/
darktone
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cmc SB just confirmed that the stop would have fired at the first available price. Only way to control this type of risk is a CRB (controlled risk bet)
i have to admit that im wary of holding over the weekend if i dont have a profit cushion even though 9 times out of time 10 its ok.
i have to admit that im wary of holding over the weekend if i dont have a profit cushion
even though 9 times out of time 10 its ok.
Last edited:
Newtron Bomb
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neil
fair play but i was speaking generally.
snip
it will be relevant to the market and economic conditions.
The weekends event is a one off and therefore will be unusual for it to happen.
Regards
NB
fair play but i was speaking generally.
snip
it will be relevant to the market and economic conditions.
The weekends event is a one off and therefore will be unusual for it to happen.
Regards
NB
Newtron Bomb
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DT
I wouldnt take cmc's word for it. I have seen the price trade 20 pips past my stop order level... no gaps it traded gently down... with no execution.
regards
NB
I wouldnt take cmc's word for it. I have seen the price trade 20 pips past my stop order level... no gaps it traded gently down... with no execution.
regards
NB
Newtron Bomb
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neil
i'm curious now, did you add the condition "in a gap like at todays open?" because if the market doesnt trade at a level how can they execute your order? other than at market, which in a gap like today could have been 100pips away from your stop trigger
Regards
NB
i'm curious now, did you add the condition "in a gap like at todays open?" because if the market doesnt trade at a level how can they execute your order? other than at market, which in a gap like today could have been 100pips away from your stop trigger
Regards
NB
Newtron Bomb
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To clarify the stop order question this is the transcript from fxcm
in short they provide a service to protect against this type of eventuality.
However, no ne else does,so you are back in the chocolate canoe in the fiery rivers of hell with someone else when the **** falls out the market like it did.
FXCM-: Welcome to FXCM's Live Chat feature. You are now chatting with an FXCM representative. How can I help you?
You are now chatting with 'FXCM~'
you: hello, curious about stop orders on a gap like todays open
you: will i get filled a stop price or market which could have been anywhere upto 100pips
you: away
FXCM~: we are the only market maker
FXCM~: that actually guarantees stops, limits and entry orders,
FXCM~: even when the market gaps
you: right
FXCM~: and also executing you at that EXACT level
you: so for example
FXCM~: which is actually pretty unrealistic
you: if my order was with a competitor my statement would be true
FXCM~: well at another market maker your stop or limit simply would not be honored at all
you: i do appreciate the loose term of at my stop order price
FXCM~: if the market gaps it technically never passed through your price
you: thank you this is as i thought
you: you have been very helpful
you: so you and only you will guarentee a stop at best when triggered, but it would be fair to say that competitors do not offer this service
FXCM~: indeed
Conclusion - dont guess and do your homework
neil
we are both correct lol
I hope his clears up the debate
Best wishes
Newtron Bomb
in short they provide a service to protect against this type of eventuality.
However, no ne else does,so you are back in the chocolate canoe in the fiery rivers of hell with someone else when the **** falls out the market like it did.
FXCM-: Welcome to FXCM's Live Chat feature. You are now chatting with an FXCM representative. How can I help you?
You are now chatting with 'FXCM~'
you: hello, curious about stop orders on a gap like todays open
you: will i get filled a stop price or market which could have been anywhere upto 100pips
you: away
FXCM~: we are the only market maker
FXCM~: that actually guarantees stops, limits and entry orders,
FXCM~: even when the market gaps
you: right
FXCM~: and also executing you at that EXACT level
you: so for example
FXCM~: which is actually pretty unrealistic
you: if my order was with a competitor my statement would be true
FXCM~: well at another market maker your stop or limit simply would not be honored at all
you: i do appreciate the loose term of at my stop order price
FXCM~: if the market gaps it technically never passed through your price
you: thank you this is as i thought
you: you have been very helpful
you: so you and only you will guarentee a stop at best when triggered, but it would be fair to say that competitors do not offer this service
FXCM~: indeed
Conclusion - dont guess and do your homework
neil
we are both correct
lol I hope his clears up the debate
Best wishes
Newtron Bomb
NB
Thanks for your help.. I am currently using both FXCM and Oanda's demo platforms and was thinking of going with Oanda because they have no minimum position size, also there spreads are better. But after reading the above I just might change my mind..
Cheers Snip
Thanks for your help.. I am currently using both FXCM and Oanda's demo platforms and was thinking of going with Oanda because they have no minimum position size, also there spreads are better. But after reading the above I just might change my mind..
Cheers Snip
darktone
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NB RE cmc stops etc
Sure i can imagine it can happen. No smoke without fire as they say . I guess the point could be argued with them, a friend of mine has just got money back from IG when their platform froze as he was bailing flat. After a bit of "It must be your end its not our fault" from IG he told them "well everything else was working at the time (charts etc)! If your dont close me at X price ill close my acc and go back to fins"!
They closed him at the price he wanted .
To much of this platform freezing goes on at critical times imho., hard to believe its 'all coincidence
Sure i can imagine it can happen. No smoke without fire as they say
. I guess the point could be argued with them, a friend of mine has just got money back from IG when their platform froze as he was bailing flat. After a bit of "It must be your end its not our fault" from IG he told them "well everything else was working at the time (charts etc)! If your dont close me at X price ill close my acc and go back to fins"! They closed him at the price he wanted
.To much of this platform freezing goes on at critical times imho., hard to believe its 'all coincidence
Zenda
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FX Thoughts for the Day - 16/12/03
> Morning Edition
> 1200 IST or 0625 GMT
>
> Euro @ 1.2335/40....Targets 1.2375-1.2400
> R: 1.2357 / 1.2375 / 1.2425-35
> S: 1.2300 / 1.2261-52 / 1.2234-20
> Strong upmove in the US session. Assumption of profit-taking correction proved wrong. Target of 1.2375 and 1.2400 seems feasible for the day. Supports as above. Yet, there's a sense of foreboding that a medium term top should be forming soon. The way the market played out in the 27-May to 16-June period this year (it stalled after hitting 1.1935) may give an idea of how things might turn out this time.
>
>
>
> $-Yen @ 107.71/6...Sideways?
> ----------------------------------
> R: 107.87 / 107.98-108.00 / 108.15
> S: 107.64-54 / 107.30-25 / 106.90-85
> The Yen has been more stable. Expect Support above 107, near 107.30. Chances of small rally towards 108.15-25 looks possible. Bearish only on break of establisghed low of 106.73. Sideways between 107.50-108.50 for now.
>
>
>
> Euro-Yen @ 132.92/7....Holding Long
> --------------------------------------------
> R: 133.50 / 134.3 / 135.18
> S: 132.25 / 132.13-03 / 131.81 / 131.68
> 200-day MA Support now at 131.81. The market has consolidated near it over the last 4 days and now seems likely to move up further towards 135.
>
> Our earlier Long (131.25) was squared at 131.70 in yesterday's early morning trade. We've gone Long again at 133.00 today. Forecasting 135 is easy. Trading for it is more difficult when stupid volatility takes you out of a good position.
>
> Holding:
> EUR 20K Long at 133.00, SL 132.00, TP open
>
>
>
> $-Swiss @ 1.2591/6...Can fall to 1.25
> ----------------------------------------
> R: 1.2630 / 1.2654 / 1.2662-69 / 1.2680
> S: 1.2588-78 / 1.2550 / 1.2500
> According to the 4-hour Chart, we should either see a sharp fall towards 1.2550-30 or a sharp rise towards 1.2650 during the European session. A 30-50 point follow-through in the direction of the move may also take place. The downside looks more probable than the upside.
>
> Order:
> Sell $25K at 1.2570, SL 1.2615, TP 1.2510
>
>
>
> Cable @ 1.7459/64....Staying out
> ---------------------------------
> R: 1.7470 / 1.7497 / 1.7512
> S: 1.7453 / 1.7442-39 / 1.7417
> Not advisable to take fresh Longs. Looks like the oxygen is getting thin now. Levels above 1.7550 may be difficult to achieve and sustain. At the same time, see decent Support for the day near 1.7420-15. Buying on a dip towards 1.7350 (if seen) might be good. Not now. Can we sell? No. Staying out.
>
> Happy Trading!
From:
Kshitij Consultancy Service
> Morning Edition
> 1200 IST or 0625 GMT
>
> Euro @ 1.2335/40....Targets 1.2375-1.2400
> R: 1.2357 / 1.2375 / 1.2425-35
> S: 1.2300 / 1.2261-52 / 1.2234-20
> Strong upmove in the US session. Assumption of profit-taking correction proved wrong. Target of 1.2375 and 1.2400 seems feasible for the day. Supports as above. Yet, there's a sense of foreboding that a medium term top should be forming soon. The way the market played out in the 27-May to 16-June period this year (it stalled after hitting 1.1935) may give an idea of how things might turn out this time.
>
>
>
> $-Yen @ 107.71/6...Sideways?
> ----------------------------------
> R: 107.87 / 107.98-108.00 / 108.15
> S: 107.64-54 / 107.30-25 / 106.90-85
> The Yen has been more stable. Expect Support above 107, near 107.30. Chances of small rally towards 108.15-25 looks possible. Bearish only on break of establisghed low of 106.73. Sideways between 107.50-108.50 for now.
>
>
>
> Euro-Yen @ 132.92/7....Holding Long
> --------------------------------------------
> R: 133.50 / 134.3 / 135.18
> S: 132.25 / 132.13-03 / 131.81 / 131.68
> 200-day MA Support now at 131.81. The market has consolidated near it over the last 4 days and now seems likely to move up further towards 135.
>
> Our earlier Long (131.25) was squared at 131.70 in yesterday's early morning trade. We've gone Long again at 133.00 today. Forecasting 135 is easy. Trading for it is more difficult when stupid volatility takes you out of a good position.
>
> Holding:
> EUR 20K Long at 133.00, SL 132.00, TP open
>
>
>
> $-Swiss @ 1.2591/6...Can fall to 1.25
> ----------------------------------------
> R: 1.2630 / 1.2654 / 1.2662-69 / 1.2680
> S: 1.2588-78 / 1.2550 / 1.2500
> According to the 4-hour Chart, we should either see a sharp fall towards 1.2550-30 or a sharp rise towards 1.2650 during the European session. A 30-50 point follow-through in the direction of the move may also take place. The downside looks more probable than the upside.
>
> Order:
> Sell $25K at 1.2570, SL 1.2615, TP 1.2510
>
>
>
> Cable @ 1.7459/64....Staying out
> ---------------------------------
> R: 1.7470 / 1.7497 / 1.7512
> S: 1.7453 / 1.7442-39 / 1.7417
> Not advisable to take fresh Longs. Looks like the oxygen is getting thin now. Levels above 1.7550 may be difficult to achieve and sustain. At the same time, see decent Support for the day near 1.7420-15. Buying on a dip towards 1.7350 (if seen) might be good. Not now. Can we sell? No. Staying out.
>
> Happy Trading!
From:
Kshitij Consultancy Service
Newtron Bomb
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Neil
If you have faith in what you do consistently over a long period of time you should do well given that you have all the elements of a winning strat.
MACD is a good tool if you know how to use it as is cci rsi and all the other tools of the trade.
Understand one tool well enough to use proficiently learn its strengths and weakness etc etc.
Changing from one tool to the next as soon as it fails wont help your trading both physically and mentally.
Stay with a few things that you are happy with or you like and do them well.
Happy trading
Newtron Bomb
If you have faith in what you do consistently over a long period of time you should do well given that you have all the elements of a winning strat.
MACD is a good tool if you know how to use it as is cci rsi and all the other tools of the trade.
Understand one tool well enough to use proficiently learn its strengths and weakness etc etc.
Changing from one tool to the next as soon as it fails wont help your trading both physically and mentally.
Stay with a few things that you are happy with or you like and do them well.
Happy trading
Newtron Bomb
Newtron Bomb
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i think then you have answered your own question about its usefulness
personally i dont trade them but i have followed them in the past to see what all the commotion was about
Horses for course i suppose
sorry its not much help to you
NB
personally i dont trade them but i have followed them in the past to see what all the commotion was about
Horses for course i suppose
sorry its not much help to you
NB
neil
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Futures or Spot
More posts by "Market Surfer" as he explores forex trading.
He is an experienced trader, albeit not in forex.
http://www.elitetrader.com/vb/showthread.php?s=&postid=391371#post391371
Maybe worth following his exploration.
More posts by "Market Surfer" as he explores forex trading.
He is an experienced trader, albeit not in forex.
http://www.elitetrader.com/vb/showthread.php?s=&postid=391371#post391371
Maybe worth following his exploration.