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FXCM Discussion

  • #161
  • Jul 28, 2007 9:39am Jul 28, 2007 9:39am
The only reports I bother to read on dailyfxcm are the ones by Jamie Saettele.
A while back he predicted the USD/CAD move from 116xx to 105xx.

Afew weeks ago he predicted the G/J move from (then) 249xx to 243xx.
The man is aa master of the Elliot Wave Theory
  • #162
  • Jul 31, 2007 1:40pm Jul 31, 2007 1:40pm
Quoting Mysticdiver
The only reports I bother to read on dailyfxcm are the ones by Jamie Saettele.
A while back he predicted the USD/CAD move from 116xx to 105xx.

Afew weeks ago he predicted the G/J move from (then) 249xx to 243xx.
The man is aa master of the Elliot Wave Theory
Yeah, Jamie Saettle is a pretty good analyst. I was told by one of my trading buddies that you can talk directly to him on the DailyFX site, they have a forum or something.
  • #163
  • Edited 11:02am Aug 3, 2007 10:03am | Edited 11:02am
[quote=Thebigmo;117905]I downloaded metatrader from spot trader(coefx.com), its pretty good, does not fail on me. I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT). Another transaction stopped me at 149.98, also Eur/Jpy yet it never reached that from the chart. The most it reached after i started my transaction was 149.97.
-----------------------------------------------------
I am new to this.
I have a related question-- I have both Meta trader and a FXCM account. How do I trade FXCM using my Meta Trader platform? It seems that TheBigMo is doing just that.
Thanks in advance!!!
  • #164
  • Aug 3, 2007 4:16pm Aug 3, 2007 4:16pm
I've read this whole thread carefully and have concluded that most of you that have a problem with FXCM are conspiracy theorists! Please don't take offence but why would a company such as FXCM chase the stops on some $500 mini account? When I first started trading I attributed most of my losses to my broker (FXCM) but in actual fact I got it wrong.I don't trade the news but can see how this type of trading could cause problems due to the rapid reaction of price to news events, so I presume you equipment needs to be state of the art to trade like this.No body has mentioned one problem that caused me a lot of grief early on and that is what price your charts display i.e buy or sell price.If you haven't worked this one out then what you expect to see on your charts and what actually happens are often quite different.I have no affiliation with FXCM, in fact I'm a private trader in NZ and have found all my dealings with FXCM to be just fine.It's often difficult to be objective about one's own lack of ability or ineptitude and I was as guilty of this, as most are, when I first started trading.
  • #165
  • Aug 4, 2007 5:26am Aug 4, 2007 5:26am
Stop hunting on a demo? We've reached a whole new level of conspiracy. Maybe they're running out of fake money for the demo accounts. Also you put a link on your post which I think you meant coesfx instead of coefx. Didn't they go bankrupt?

[quote=zhanglini;1522878]
Quoting Thebigmo
I downloaded metatrader from spot trader(coefx.com), its pretty good, does not fail on me. I am using FXCM demo. Yesterday i started a transaction on the eur/jpy. Ihad the stop loss at 149.99. Now the chart never made it to 149.99 but the FXCM chose to stop me at 149.99. I even downloaded some free FXCM charts from their website to see if the chart they have indicated the price touched 149.99 after i started my transaction. It did not. I staeted my transaction exactly 5 pm US central time(9pm GMT). Another transaction stopped me at 149.98, also Eur/Jpy yet it never reached that from the chart. The most it reached after i started my transaction was 149.97.
-----------------------------------------------------
I am new to this.
I have a related question-- I have both Meta trader and a FXCM account. How do I trade FXCM using my Meta Trader platform? It seems that TheBigMo is doing just that.
Thanks in advance!!!
  • #166
  • Aug 5, 2007 3:41am Aug 5, 2007 3:41am
Quoting edge540
I've read this whole thread carefully and have concluded that most of you that have a problem with FXCM are conspiracy theorists! Please don't take offence but why would a company such as FXCM chase the stops on some $500 mini account? When I first started trading I attributed most of my losses to my broker (FXCM) but in actual fact I got it wrong.I don't trade the news but can see how this type of trading could cause problems due to the rapid reaction of price to news events, so I presume you equipment needs to be state of the art to trade like this.No body has mentioned one problem that caused me a lot of grief early on and that is what price your charts display i.e buy or sell price.If you haven't worked this one out then what you expect to see on your charts and what actually happens are often quite different.I have no affiliation with FXCM, in fact I'm a private trader in NZ and have found all my dealings with FXCM to be just fine.It's often difficult to be objective about one's own lack of ability or ineptitude and I was as guilty of this, as most are, when I first started trading.
I wholly agree with the fact that many cannot differentiate between lack on trading competence and the brokers' shortcomings. But I admit this was my problem in the beginning. When I overcame the first problem, the second took alot of my profits due to spreads. I don't trade news but imagine having a trader having to set a 10-20 pip stop to 13-23 pip for EURUSD when a non-dealing desk can set it to 11-22. Those small differences can add up quickly when as your number of trades accumulate. I'm just saying there are better brokers out there and getting the right and reliable broker is half the battle.
  • #167
  • Aug 15, 2007 4:46pm Aug 15, 2007 4:46pm
I wanted to get people's take on FXCM's update on their Tradestation. I think they have changed more than just the single click.
For me, I havent been filled on an order since the upgrade. I trade fast moving markets. Their excuse is that the market is moving too fast or that the liquidity is eaten up before I can get in. By all means Im not complaining. I just want to see what everyone's thoughts and/or experiences were with their new upgrade.

Does anyone know what really happens on the back end? Personally, I think they have a new way of setting certain amounts of liquidity at prices to help eleviate filling orders with the fast market traders.

Your thoughts are appreciated.
  • #168
  • Aug 16, 2007 9:52am Aug 16, 2007 9:52am
It's the same with me during volatile news events. after this update they no longer fills my market order within a predefined 'market range'.
  • #169
  • Aug 17, 2007 10:59am Aug 17, 2007 10:59am
Yeah, I think they have now put limitations on orders during volitile times. It was probably an important upgrade for them as to prevent a certain # of people that did make money, to not make any more money (like me).

Quoting Saurabh_g
It's the same with me during volatile news events. after this update they no longer fills my market order within a predefined 'market range'.
  • #170
  • Oct 9, 2007 6:41pm Oct 9, 2007 6:41pm
Hi Folks
Could you do me a huge favour and confirm if netdania uses fxcm as a source. Im trying to find out what source netdania use
Thanks
  • #171
  • Oct 10, 2007 7:23am Oct 10, 2007 7:23am
Find yourself a broker with a decent reputation
  • #172
  • Oct 12, 2007 4:17am Oct 12, 2007 4:17am
Does anybody have any experience with PropFX's Tradestation 2.0?
  • #173
  • Oct 12, 2007 6:07am Oct 12, 2007 6:07am
At this time , Fri Oct 12th 11:00 GMT, all sites of FXCM are unreachable, including trading servers. This is second instance this week.

Does anybody else facing same prob?
  • #174
  • Oct 12, 2007 6:14am Oct 12, 2007 6:14am
Quoting SA_Node
At this time , Fri Oct 12th 11:00 GMT, all sites of FXCM are unreachable, including trading servers. This is second instance this week.

Does anybody else facing same prob?
I just opened my FXCM platform and it is working fine.
maybe you have internet connection problem.
  • #175
  • Oct 12, 2007 6:19am Oct 12, 2007 6:19am
Thanks for your reply. i'll check my net connection.
  • #176
  • Oct 15, 2007 2:54pm Oct 15, 2007 2:54pm
Quoting edge540
I've read this whole thread carefully and have concluded that most of you that have a problem with FXCM are conspiracy theorists! Please don't take offence but why would a company such as FXCM chase the stops on some $500 mini account? When I first started trading I attributed most of my losses to my broker (FXCM) but in actual fact I got it wrong.I don't trade the news but can see how this type of trading could cause problems due to the rapid reaction of price to news events, so I presume you equipment needs to be state of the art to trade like this.No body has mentioned one problem that caused me a lot of grief early on and that is what price your charts display i.e buy or sell price.If you haven't worked this one out then what you expect to see on your charts and what actually happens are often quite different.I have no affiliation with FXCM, in fact I'm a private trader in NZ and have found all my dealings with FXCM to be just fine.It's often difficult to be objective about one's own lack of ability or ineptitude and I was as guilty of this, as most are, when I first started trading.
What you are saying is often true. 90% of the people losing do try to blame the broker, and not their own bad trading. Reality check time is needed for some.
  • #177
  • Edited 3:24pm Oct 15, 2007 3:20pm | Edited 3:24pm
Quoting edge540
I've read this whole thread carefully and have concluded that most of you that have a problem with FXCM are conspiracy theorists! Please don't take offence but why would a company such as FXCM chase the stops on some $500 mini account? When I first started trading I attributed most of my losses to my broker (FXCM) but in actual fact I got it wrong.I don't trade the news but can see how this type of trading could cause problems due to the rapid reaction of price to news events, so I presume you equipment needs to be state of the art to trade like this.No body has mentioned one problem that caused me a lot of grief early on and that is what price your charts display i.e buy or sell price.If you haven't worked this one out then what you expect to see on your charts and what actually happens are often quite different.I have no affiliation with FXCM, in fact I'm a private trader in NZ and have found all my dealings with FXCM to be just fine.It's often difficult to be objective about one's own lack of ability or ineptitude and I was as guilty of this, as most are, when I first started trading.

I have been a customer of FXCM in the past and I found them to be an excellent and reputable BROKER.

But in reference to the above, in general, stop hunting is not based on one $500 mini account but the brokers ability to see ALL the stops. (Made up numbers coming in this example) If 75% of their customers have stops around a certain price (or a pip or so away) a computer can see this adjust price through the stops then quickly switch back to market values. They do not go stop hunting on indiviual trades but on groups of stops, if your $500 mini account happens to be one of them then you get stopped out with everyone else there. I really do not know the logic used by brokers for stop hunting, but even the simple example I just stated could feasibly bring in alot of profits and prevent a lot of loss for the brokers.
As far as I know, broker sdo not stop hunt. I think they do, but i do not know it for sure. I accept it as a part of doing business with retail brokers ( I have a broker account and an ECN account for different reasons/ trading methods).

I agree in the fact that some traders like to balme stop hunting as to why there trades do not work out. As to what percent it actually is I have no way of knowing.

--Mark
EllisEdi Moving on to my next trade ...
  • #178
  • Oct 15, 2007 4:10pm Oct 15, 2007 4:10pm
just get a ECN broker, i don't really see a reason for using a bucketshop any longer. Interactive Brokers, MBTrading, Various Currenex brokers, all seem like a great alternative...
  • #179
  • Dec 4, 2007 12:04am Dec 4, 2007 12:04am
i saw in the fxcm web site that beginning of 2008 they will offer also MT4 platform.
They found this way to have again the dealing desk
  • #180
  • Dec 4, 2007 12:39am Dec 4, 2007 12:39am
Quoting gioviforex
i saw in the fxcm web site that beginning of 2008 they will offer also MT4 platform.
They found this way to have again the dealing desk
That will be very nice because i'm a fan of MT4. I can't wait for them to start it.
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