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  • #4,781
  • May 20, 2014 4:24am May 20, 2014 4:24am
Quoting Jason Rogers
{quote}. As an alternative, have you considered switching from One-Click trading to Double-Click trading?
Good suggestion thanks I'll give it a try!
Full-time trader and loving it!
  • #4,782
  • May 20, 2014 7:49pm May 20, 2014 7:49pm
Below are the Memorial Day trading hours for CFDs on Monday, May 26th. All times listed are in GMT.

Forex trading hours remain unchanged, opening on Sunday between 21:00 and 21:15 GMT and closing on Friday at 20:55 GMT.


http://i.imgur.com/1A8Ybii.png



For the holiday schedule for rollover interest (AKA swaps) visit the DailyFX Rollover Calendar.

* While the Australian Securities Exchange (ASX) does not list May 26th as a holiday, they tend to close early on US holidays. That means there's a strong possiblity that AUS200 trading will close early for Memorial Day.
  • #4,783
  • May 22, 2014 7:36pm May 22, 2014 7:36pm
Will you guys ever implement a way to create a trade explorer on this site with an FXCM account not using MT4? Or is there a way to use MT4 just so we can open a trade explorer here on forex factory?(but not trade through it)?
  • #4,784
  • May 23, 2014 8:47am May 23, 2014 8:47am
So is my friend Wolf_Wicked the only person on forex factory who can only get trade explorer data from the beginning of the month ? Is this correct?


Still
like totally failure brah
  • #4,785
  • May 23, 2014 2:09pm May 23, 2014 2:09pm
Quoting Rizmeister
Will you guys ever implement a way to create a trade explorer on this site with an FXCM account not using MT4? Or is there a way to use MT4 just so we can open a trade explorer here on forex factory?(but not trade through it)?
Quoting simonb
So is my friend Wolf_Wicked the only person on forex factory who can only get trade explorer data from the beginning of the month ? Is this correct? Still
At the present time, in order to use Trade Explorer, an FXCM client must have an MT4 account. (Note that MT4 account holders with FXCM are able to use their login details to access Trading Station and place trades from that platform if they prefer.) However, we’re currently working with Forex Factory on an integration that will allow all our clients access to Trade Explorer including non-MT4 account holders.

During this process, the trade history you see on Trade Explorer (if you are already linked to it using an MT4 account) will be limited to the past month. When the integration is complete, you will be able to access your full trade history as will all other FXCM clients whether they use Trading Station, Mirror Trader, NinjaTrader or ZuluTrade. I'll post updates in this thread as I get more information regarding dates.
  • #4,786
  • May 23, 2014 5:57pm May 23, 2014 5:57pm
Quoting Jason Rogers
{quote} {quote} At the present time, in order to use Trade Explorer, an FXCM client must have an MT4 account. (Note that MT4 account holders with FXCM are able to use their login details to access Trading Station and place trades from that platform if they prefer.) However, we’re currently working with Forex Factory on an integration that will allow all our clients access to Trade Explorer including non-MT4 account holders. During this process, the trade history you see on Trade Explorer (if you are already linked to it using an MT4 account) will...
Excellent, thanks Jason, all he wanted to know.
like totally failure brah
  • #4,787
  • May 23, 2014 9:00pm May 23, 2014 9:00pm
For those with a current BASIC FXCM account, are you pleased with their execution, service, spreads, overall as a broker? Considering switching brokers and looking at FXCM. Any feedback would be great!
Damn The Torpedoes, Full Speed Ahead!
  • #4,788
  • May 24, 2014 5:39am May 24, 2014 5:39am
Thank you Jason Rogers ! I try with this way early, but the fault still exists. I have already put it back to the old version.
  • #4,789
  • May 24, 2014 2:50pm May 24, 2014 2:50pm
This is my opinion:

What is your trading method? Scalper, swing, or longterm trader?

Your cost of operating should be your first consideration and although there is very little cost in regard to opening a retail account, it is a cost you will burden always. This does not seem significant at this point but when one assess their costs over 1, 2, 3 or 10 years (in my case it is longer) the cost becomes more significant.

The next consideration is only for 10K plus deposits, dependent upon the number of lots traded daily, account size, amount of risk, personally, I would seek out an STP exchange and negotiate your cost schedule.

Regarding success probability factor, If you deposited 1K into account, is the 1K closer to ZERO, 2K (25%), 3K (50%), 4 (75%)....These statistics are in regard to failure ratio. Any traders likelihood of failure, which should be the first consideration when entering forex, it is encoded within human DNA to resist the thought of failure and attempt to succeed regardless of what can be loss during the effort.

My thoughts regarding retail trading, 90%(I think it is higher) fail in their effort. These are stats supported by FXCM research, now, besides the negative side of trading.

This business requires you to know your cost of operation regardless of being a retail trader. My target trading cost = 8% of of net gain, this pass Friday the markets were in flux, I violated this rule unintentionally, trading costs were 30% which happens rarely but my gains were significant enough, again,
these types of incidences are rare for me.


Just a thought, be careful and happy trading...


Informative Links:

http://www.investopedia.com/terms/s/...processing.asp

http://www.tradeforextrading.com/ind...-forex-brokers
Gregory D. Alexandr
  • #4,790
  • May 24, 2014 11:50pm May 24, 2014 11:50pm
Hello All,

I'm not sure if this question has already been asked as I have not yet read my way through the 240 current posts but I have a question regarding the spread that is shown within MT4 Strategy tester.

Using EURUSD as an example, if I open Strategy Tester and click on Symbol Properties, the spread for EURUSD is shown as 38. In reality as FXCM uses fractional pips the true spread is 3.8

Q1 Is there a way to adjust this in MT4 so that 3.8 is correctly shown as the spread in Strategy Tester when the currency pair is to either 3 or 5 decimal places (ie using fractional pips)?

Q2 If answer to Q1 is No, do I have to make adjustments to my strategy to cater for this? eg. If I wanted to use a 15 pip stop and 45 pip Target exit, I should change the stop figure to 150pips & Target figure to 450pips, etc?

If anyone can offer any advice on this that would be great as I'm concerned that this will affect my strategy results if I get it wrong.


On a seperate note, I have read that it can be beneficial to have two copies of MT4 installed on your PC. One is constantly connected to your broker and used for live trading, whilst the other can be disconnected (and used as a standalone terminal) in order to keep the spreads constant. Apparently the benefit is that with the disconnected copy the spreads remain constant so each time the strategy is backtested the results should be the same (and not changed as a result of the ever changing spread). This then makes it more reliable when comparing different backtest reports.

Q. Does anyone currently do this and if so, how do you successfully install 2 copies on the same machine without causing any issues or overriding the first copy?

Thanks in advance,

Chorlton
  • #4,791
  • May 25, 2014 2:08am May 25, 2014 2:08am
"Instant execution and execution on request sometimes make a good indication that your brokerage act as your opponent."

dirty broker


i thought we had direct market access ? all the advertisements saying this shit.. it's not direct.. the prices are set by the broker
  • #4,792
  • May 25, 2014 6:50am May 25, 2014 6:50am
Here is Final Q1 2014 US Retail Forex Profitability Report. FXCM profitability is 33.0%.
Attached Image
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  • #4,793
  • May 26, 2014 11:20am May 26, 2014 11:20am
Quoting lghr
Thank you Jason Rogers ! I try with this way early, but the fault still exists. I have already put it back to the old version.
Hi Lghr,

In that case, please contact our live customer support team anytime 24 hours a day and ask to speak with a Level 2 technical specialist regarding the problems you've been having with MT4 build since the recent updates from MetaQuotes. We can walk you through some steps to troubleshoot this in real time.
  • #4,794
  • May 26, 2014 12:17pm May 26, 2014 12:17pm
Quoting Chorlton
Hello All, I'm not sure if this question has already been asked as I have not yet read my way through the 240 current posts but I have a question regarding the spread that is shown within MT4 Strategy tester. Using EURUSD as an example, if I open Strategy Tester and click on Symbol Properties, the spread for EURUSD is shown as 38. In reality as FXCM uses fractional pips the true spread is 3.8 Q1 Is there a way to adjust this in MT4 so that 3.8 is correctly shown as the spread in Strategy Tester when the currency pair is to either 3 or 5 decimal...
Hi Chorlton,

Here are some resources you might find helpful:

  1. http://forum.mql4.com/47406#621634
  2. http://bit.ly/1ki2Uf0
  3. http://forum.mql4.com/51126

PS: That EUR/USD spread you saw seems wide. It's possible you were looking at this during the weekend when only indicative rates are shown. Live executable rates are available when the trading desk is open from Sunday 5:15pm to Friday 4:55pm New York Time.

  • #4,795
  • May 26, 2014 6:06pm May 26, 2014 6:06pm
Quoting allisonmagic
"Instant execution and execution on request sometimes make a good indication that your brokerage act as your opponent." dirty broker i thought we had direct market access ? all the advertisements saying this shit.. it's not direct.. the prices are set by the broker
FXCM offers traders the choice between two types of forex execution: No Dealing Desk (NDD) and dealing desk.

On our NDD model, client orders are offset one-for-one with 10+ liquidity providers, whichever one happens to be quoting the best bid/offer (BBO) at the time in question. For our profit, we simply add a fixed pip markup to the BBO which acts as a commission. That means we make our money from client trading volume, not client losses.

With FXCM MetaTrader 4, all orders execute using instant execution. This MT4 execution type enables the maximum deviation ("max deviation") feature.

The maximum deviation feature was designed to control slippage - both negative and positive - in the following way. When creating an order, a number is specified in tenths of a pip (≥0) in the max deviation field. This number is the maximum amount of slippage the order can receive. If the market price moves beyond this amount while the order is executing, the order will cancel automatically. This is how the maximum deviation feature was designed to function.

FXCM trading policy allows for unlimited positive slippage on all order types. Therefore, FXCM has developed a way to override the restriction that the maximum deviation feature places on positive slippage. All orders placed on the FXCM MetaTrader 4 platform fill with the greatest amount of positive slippage possible.

In the event that an order fills with positive slippage beyond the maximum deviation, the platform logs a message in the "Journal" tab. The message has the following format: $ {Amount} - Positive Slippage - {Order Number}. $ {Amount} is the positive slippage the order received beyond the maximum deviation.

If the market price moves negatively beyond the maximum deviation, the order cancels automatically. When this occurs, an "Off Quotes" message is displayed. This is a standard MetaTrader 4 message notifying the user that an order canceled because the market price deviated beyond the order setting.

Please note: dependent upon market conditions, a lower maximum deviation amount can increase the likelihood that an order will be rejected due to the market price moving outside of the maximum deviation.
  • #4,796
  • May 26, 2014 6:26pm May 26, 2014 6:26pm
Quoting DizzleFX
For those with a current BASIC FXCM account, are you pleased with their execution, service, spreads, overall as a broker? Considering switching brokers and looking at FXCM. Any feedback would be great!
Hi Dizzle,

The execution and spread options (NDD and DD) available for basic accounts are identical to the premium account offerings. The different services available to each account type are outlined below.

http://i.imgur.com/RfIgmTD.png

click to enlarge

  • #4,797
  • May 26, 2014 6:39pm May 26, 2014 6:39pm
Quoting galexandr
Regarding success probability factor, If you deposited 1K into account, is the 1K closer to ZERO, 2K (25%), 3K (50%), 4 (75%)....These statistics are in regard to failure ratio. Any traders likelihood of failure, which should be the first consideration when entering forex, it is encoded within human DNA to resist the thought of failure and attempt to succeed regardless of what can be loss during the effort. My thoughts regarding retail trading, 90%(I think it is higher) fail in their effort. These are stats supported by FXCM research, now, besides...
Quoting shahidfx
Here is Final Q1 2014 US Retail Forex Profitability Report. FXCM profitability is 33.0%. {image}

You both make good points!

While Q1 stats for 2014 show that 33.0% of FXCM clients were profitable (an increase I attribute to lower volatility), there is big difference in the performance of those who start with less than $1000 equity (20.91% profitable) and those who start with at least $5000 (37.37% profitable).

http://media.dailyfx.com/illustratio..._Picture_3.png


I mentioned this in an earlier discussion about trader profitability with data compiled by DailyFX research from over 10,000 FXCM client accounts: "Traders with at least $5,000 of capital tend to use more conservative amounts of leverage. Traders should look to use an effective leverage of 10-to-1 or less."

http://media.dailyfx.com/illustratio..._Picture_4.png


The same study showed that FXCM client accounts with a balance of $10,000 or more had a profitability rate of 44.09% which is right in line with the two brokers in the table posted by Shahidfx that have a 10k minimum for all their accounts.
  • #4,798
  • May 26, 2014 6:57pm May 26, 2014 6:57pm
Quoting Jason Rogers
{quote} Hi Dizzle, The execution and spread options (NDD and DD) available for basic accounts are identical to the premium account offerings. The different services available to each account type are outlined below. {image} click to enlarge
Thanks for the response Jason. I literally just open a demo FXCM MT4 account about 10 minutes ago to play around with and to look at spreads throughout the different times of day/news events. Are the spreads on the demo account spot on with what a live account would see? Thanks
Damn The Torpedoes, Full Speed Ahead!
  • #4,799
  • May 27, 2014 2:13am May 27, 2014 2:13am
Very frustrating start today. Could not place any trades on UK100 until 08:09 BST from the open at 08:00. Not because price was moving too fast, it was steady. Just nothing happening when TS2 Sell button clicked - no response indicating delay, just as if wasn't even connected. Other traders tell me same problem.
Cost me quite a lot in missed profit.
Full-time trader and loving it!
  • #4,800
  • May 27, 2014 7:07am May 27, 2014 7:07am
Quoting Jason Rogers
{quote} Hi Chorlton, Here are some resources you might find helpful: http://forum.mql4.com/47406#621634 http://bit.ly/1ki2Uf0 http://forum.mql4.com/51126 PS: That EUR/USD spread you saw seems wide. It's possible you were looking at this during the weekend when only indicative rates are shown. Live executable rates are available when the trading desk is open from Sunday 5:15pm to Friday 4:55pm New York Time.
Thanks Jason... I'll take a look at those links..
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