Fxcm

Jun 3, 2009
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0
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#7
Well lets face it how could we get it wrong!!!
Its easy to get paranoid but at the risk of annoying some of the other contributers unless you have the mind of a rocket scientist and a phenominal memory as well as an ability to read very fast you are likely to get it wrong sometimes

I daren't mention RANDOM right now
 

nunrgguy

Well-known member
Aug 10, 2004
655
118
53
#8
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::mad::mad::mad::mad::mad::mad::mad::mad::mad:
 
Jun 3, 2009
23
0
11
#9
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
 

alexander

Active member
Mar 19, 2005
353
35
38
#10
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.
 
Jan 19, 2011
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#12
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..
 
Jun 3, 2009
23
0
11
#13
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
 

nunrgguy

Well-known member
Aug 10, 2004
655
118
53
#14
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
 
Jun 3, 2009
23
0
11
#15
It's terrible, they must make....HUNDREDS of pounds with their dishonesty
Thanks for telling me that. I always use my tried and tested indicators and system anyway and just refer to that to see if they agree. I'll be a bit wary of their predictions though
 

Jason Rogers

Well-known member
Jun 17, 2009
2,766
92
58
www.fxcm.com
#16
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.
Hi nunrgguy,

NFP is typically one of the most volatile economic events of the month. It's not uncommon to see the market move 10, 20, 30, 40+ pips per tick when the news is released, therefore trading this number can be very risky. Below is an example of the EUR/USD tick chart from the most recent NFP release on January 7th during which time EUR/USD moved up 50 pips within seconds.


I can understand the attraction to trading this type of event since the market can move a large distance in a short amount of time; however, the reason it's moving so quickly is because the market is gapping. There is less liquidity in the market which causes more volatile price movements. If you have a market order or stop loss order at a specific price but that price is not available, then the order will be filled at the next best available price. Slippage is the first thing discussed on the execution page of our website http://www.fxcm.co.uk/trading-execution-risks.jsp .

The spreads you see with our NDD forex execution are made up of the best bid/ask price being quoted by the banks streaming prices onto the platform. FXCM is not controlling the spreads, but rather the spread is being determined by the best pricing available. So you see a true reflection of pricing in the market.

While your balance could end up in a deficit if the price closing you out at 0 is not available, it is FXCM's policy to credit accounts to a zero balance when deficit balances occur as a result of trading.

Please let me know if you have any questions.

Jason
FXCM
 
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