Here's a little talk I had with the MIG guys today, let me know what you think, especially if you have a real MIG account and was trading GBPJPY last night:
DislikedAhmed: Price descrepancy on GBPJPY?
You are now speaking with Chérif of Support.
Chérif: Hello Mr. Ahmed
Ahmed: I have a question about your quoted prices..
Ahmed: running a demo account at the moment
Chérif: Yes please
Ahmed: Are your real accuonts getting quotes from the same servers?
Ahmed: as the demo accounts I mean?
Ahmed: because yesterday i successfully made a trade that closed at 242.66 GBPJPY
Ahmed: today when I look at the chart
Ahmed: I found that 242.66 was never reached.
Ahmed: Now I know it was reached because the trade was successful..
Ahmed: please explain
Chérif: Yes. The prices are always of the bid on your chart. The decripency you are talking about is related to the spread calculation during the news and the difference between the bid and ask
Ahmed: 40 pips spread?
Chérif: 40 pips spread?
Ahmed: why is the price not shown on the charts
Chérif: The charts show the Bid price
Chérif: so it will not show the ask nor the highs and lows
Chérif: and on a demo account you do not see the market gaps and spikes and wrong quotes.
Ahmed: ok, this is what I was talking about
Chérif: It is a demo to show you how the real one functions and for beginners to learn how to manage calculations for their accounts.
Chérif: Can you please explain what you are talking about?
Ahmed: The ask price is always higher than the bid, so even if the bid reaches 242.66 thus closing my trade, the ask price must have been higher
Ahmed: the only possibility is a misquote
Ahmed: in which case it was a 40 pip misquote
Ahmed: because the price never reached anything above 242.20 according to my charts today
Ahmed: I am not unhappy
Ahmed: in fact my trade closed
Ahmed: I am just wondering what could happen in your real accounts in this situation
Ahmed: say I have a stop placed there and it is triggered
Chérif: I will transfer you to our dealing room Sir
Chérif: I guess it is the best way to talk to a professional trader and my colleague will help clear your inquiry
Chérif: I wish you a goo day
Please hold while being transferred to Altug of Support.
You are now speaking with Altug of Support.
Altug: how can i help you?
Ahmed: Can you see the previous conversation with your colleage?
Altug: let me read sir
Ahmed: take your time
Altug: so you are saying that your buy position was closed with a take profit at a price which you do not see on the gbpjpy chart?
Ahmed: ill give you the demo account details if you like
Altug: it is so strange
Altug: yes, if you can give me i can check sir
Ahmed: magdi hamza
Altug: let mecheck sir
Ahmed: go ahead
Ahmed: I am not accusing you of stop hunting, but others would
Ahmed: it's the last trade in the history
Altug: it is a bit slow the demo manager here
Altug: ok iam in
Ahmed: check the last trade
Altug: your account number is 277549
Altug: ticket: 6588087?
Ahmed: Can you see the TP
Ahmed: it was clearly reached
Altug: i see
Ahmed: so..stop hunting?..misquote..? server error..?
Altug: the price jumpped up 60-70 pips
Altug: and then the chart was corrected
Ahmed: very well
Ahmed: but in a real account if I lost money due to this
Ahmed: what would be your response
Altug: in the real , your take profit and stop loss at this price would not be activated
Altug: on the demo we do not have a control on the prices
Altug: because this is not a correct quote
Altug: the market never gave a price like this
Altug: there was obviously a filter problem on the demo server and it gave a quote like this
Ahmed: so the prices that the client uses on the chart are different from the prices that the client uses to make the trades?
Ahmed: or you mean the demo server uses different quotes from the real server?
Ahmed: this is actually the first question i asked your colleage
Altug: the control i mean
Altug: we are not controlling every order activation on the demo
Altug: that is why your ticket was closed
Ahmed: and on a real server this "control" is automated, or manual?
Altug: we have a manual control on everything
Ahmed: Im sorry I ask, but there will be many hundreds of thousands risked here
Altug: how can this control be automated??
Ahmed: through an algorithm
Altug: the price feeder is a computer program
Altug: the computer thing you know
Altug: on the real if you had a sl or tp, they would not be activated
Ahmed: ok, thanks for your time
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea