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Getting Around your broker

  • #41
  • Sep 17, 2006 9:34pm Sep 17, 2006 9:34pm
First of all, sorry for my English, it is not my mother language.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>

I started straddling the news around two month and a half ago with FXCM. I made money and I had no problems with stops and limits. But now I see that they don’t let me trade any <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">US</st1lace></st1:country-region> announcement because they freeze the platform around 5 o 15 minutes before the release, and sometimes the execution is not as fast as it was at first when I started to trade. So I’m thinking about to focus my trade in the minor news, (<st1lace w:st="on"><st1:country-region w:st="on">UK</st1:country-region></st1lace>, CAD and some AUS) when the platform is ok to do that. <o></o>

As you said; when you start to make money they change the originals condition that let you trade profitably. But I wondered why they do that? <o></o>

I calculate that if you risk 5 per cent of you equity in each trade and you get only 15 pips per week you can make around 30 per cent monthly. The big question for me is; It is possible due to the limitations of the frozen platform?<o></o>

<o> </o>

I’ll appreciate any piece of advice from you.<o></o>
  • #42
  • Sep 17, 2006 10:00pm Sep 17, 2006 10:00pm
Quoting arielforexfactory
First of all, sorry for my English, it is not my mother language.<o></o>

I started straddling the news around two month and a half ago with FXCM. I made money and I had no problems with stops and limits. But now I see that they don’t let me trade any <st1:country-region w:st="on"><st1lace w:st="on">US</st1lace></st1:country-region> announcement because they freeze the platform around 5 o 15 minutes before the release, and sometimes the execution is not as fast as it was at first when I started to trade. So I’m thinking about to focus my trade in the minor news, (<st1lace w:st="on"><st1:country-region w:st="on">UK</st1:country-region></st1lace>, CAD and some AUS) when the platform is ok to do that. <o></o>

As you said; when you start to make money they change the originals condition that let you trade profitably. But I wondered why they do that? <o></o>

I calculate that if you risk 5 per cent of you equity in each trade and you get only 15 pips per week you can make around 30 per cent monthly. The big question for me is; It is possible due to the limitations of the frozen platform?<o></o>

<o></o>

I’ll appreciate any piece of advice from you.<o></o>

I had a lengthly conversation with FXCM regarding this matter and here is their OFFICIAL statement on it.

If you are consistently trading as stated above, it would raise some red flags on their end; once they noticed you doing just that, your account will be placed in Manual Execution.

There is no way out of this. Once in Manual Execution, your account will remain in that group until yoiu closed it.

Recommendation: Ask you brother, sister, father, mother to open an account and use that to trade with FXCM. Rinse repeat.

PS. I felt sorry closing my FXCM account last month. I thought that the new broker I got would be better than FXCM. I was wrong. All the profit I made from FXCM were STOLEN by this new broker with their HIDDEN RULES. FXCM is not as bad as other people think. At least I never experiencing FXCM crashing even on big time news NFP... The only bad thing with FXCM is that if you keep straddling the news, they will put your account in manual execution.
  • #43
  • Sep 17, 2006 10:19pm Sep 17, 2006 10:19pm
Quoting BurgerKing
I had a lengthly conversation with FXCM regarding this matter and here is their OFFICIAL statement on it.

If you are consistently trading as stated above, it would raise some red flags on their end; once they noticed you doing just that, your account will be placed in Manual Execution.

There is no way out of this. Once in Manual Execution, your account will remain in that group until yoiu closed it.

Recommendation: Ask you brother, sister, father, mother to open an account and use that to trade with FXCM. Rinse repeat.

PS. I felt sorry closing my FXCM account last month. I thought that the new broker I got would be better than FXCM. I was wrong. All the profit I made from FXCM were STOLEN by this new broker with their HIDDEN RULES. FXCM is not as bad as other people think. At least I never experiencing FXCM crashing even on big time news NFP... The only bad thing with FXCM is that if you keep straddling the news, they will put your account in manual execution.

I have a question; If you open a new account and you mix your trading style (sometimes news straddling and sometimes another like Vegas, or whatever) Do they put you in manual execution? Is there any way to avoid to be in manual execution when your main objetive is to scalping the news?
  • #44
  • Last Post: Sep 17, 2006 10:35pm Sep 17, 2006 10:35pm
Quoting arielforexfactory
I have a question; If you open a new account and you mix your trading style (sometimes news straddling and sometimes another like Vegas, or whatever) Do they put you in manual execution? Is there any way to avoid to be in manual execution when your main objetive is to scalping the news?
I have done more TA than NEWs with my FXCM (perhaps 2:1). Yet I was placed in the Manual Execution group even if my account then was still in negative. Only doing the minor news was I able to get my money back with profit.
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