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FXSol slipping price

  • #1
  • First Post: Nov 2, 2006 12:22pm Nov 2, 2006 12:22pm
Hi,

I've been using FX Solutions for a while now and I’m noticing they’re starting to slip the price around news time. Does anyone else here use FXSol and have you noticed the same thing lately? They used to slip occasionally but it seems to be happening more often. I know these brokers don’t like news traders, so I’m starting to think this is not a coincidence.
Thanks, Andrew
  • #2
  • Nov 9, 2006 2:52am Nov 9, 2006 2:52am
Are you placing a market order at news?

If so, then most likely your a victim of widening spreads and not slippage.

I don't trade the news, typically and execute 95% of my trades through pre-planned, entry orders and have yet to experience slippage with FXsol....even during fast market movement.

I have three accounts with them, so if this were a real problem....I'd probably had seen it by now.
Capital Preservation is key to long term wealth accumulation
  • #3
  • Nov 9, 2006 3:02am Nov 9, 2006 3:02am
Quoting MuddBuddha
Are you placing a market order at news?

If so, then most likely your a victim of widening spreads and not slippage.

I don't trade the news, typically and execute 95% of my trades through pre-planned, entry orders and have yet to experience slippage with FXsol....even during fast market movement.

I have three accounts with them, so if this were a real problem....I'd probably had seen it by now.
I place market orders at news time i try to wait after the spike this is a good news trading broker very stable platform.
If I Go Broke Trying Then I Will die happy.
  • #4
  • Nov 9, 2006 4:29am Nov 9, 2006 4:29am
I am seeing some slippage with brokers that dont widen the spread - FXSol
I notice no slippage with brokers that do widen the spread - IBFX

That means that all brokers are doing the same thing at news time but in different ways. The end result for us traders is the same and we must accept that it comes with news trading.
  • #5
  • Nov 9, 2006 7:38am Nov 9, 2006 7:38am
Quoting PipStar
I am seeing some slippage with brokers that dont widen the spread - FXSol
I notice no slippage with brokers that do widen the spread - IBFX

That means that all brokers are doing the same thing at news time but in different ways. The end result for us traders is the same and we must accept that it comes with news trading.
Well said pipstar, this was my first week testing FXSol and my last, for some reason i always end up at the tail/head of the spike of course after initial requoting!

Sma
  • #6
  • Nov 9, 2006 7:51am Nov 9, 2006 7:51am
trading news is sucide anyway. ive seen a s minute candle go up and down 100 pips in its life. itf unstable and impracticle.
  • #7
  • Nov 9, 2006 8:41am Nov 9, 2006 8:41am
Quoting jrod
trading news is sucide anyway. ive seen a s minute candle go up and down 100 pips in its life. itf unstable and impracticle.
Jrod, just as it takes 2 wings to fly, you need the data INSTANTLY, and you need a GOOD broker. I have access to bloomberg/reuters with deviation setup prior to the release, the instant the number is out it triggers a buy/sell. No thinking required! I am looking for my second wing now...

So from experience, trading the news is defintiely NOT suicide.

Sma
  • #8
  • Nov 9, 2006 9:28am Nov 9, 2006 9:28am
right on i have 2 accounts for awhile now with no problems.

Best of luck,
Mike

Quoting MuddBuddha
Are you placing a market order at news?

If so, then most likely your a victim of widening spreads and not slippage.

I don't trade the news, typically and execute 95% of my trades through pre-planned, entry orders and have yet to experience slippage with FXsol....even during fast market movement.

I have three accounts with them, so if this were a real problem....I'd probably had seen it by now.
  • #9
  • Nov 9, 2006 10:04am Nov 9, 2006 10:04am
Quoting jrod
trading news is sucide anyway. ive seen a s minute candle go up and down 100 pips in its life. itf unstable and impracticle.
News Moves The Market
If I Go Broke Trying Then I Will die happy.
  • #10
  • Nov 11, 2006 7:38am Nov 11, 2006 7:38am
ive been with them since july and havent noticed it....
CRAIGSLIST BARTERING CHAMPION
  • #11
  • Nov 12, 2006 9:14am Nov 12, 2006 9:14am
I have to agree with Moe and the others. I dont trade the news....have in the past....but I'm more profittable trading standard intra-day.

I think, and this is NOT an expert opinion, but just a statement of observation of a friend in the chat room who trades the news successfully, that it takes a feel for the immediate action of the candle/bar and some finesse in executing the order at the right time. This I believe can only be learned through on the job training and is not something you can teach 100% effectively, nor expect everyone to master.

The news trader is a different trader than most. They just have a feel for abrupt market movements that others do not. They, the successful ones, can often tell if the movement is likely to continue, or peter out soon after the initial rush.

I have 1000% respect and admiration for them....but I wouldn't do it myself. I know my limitations.
Capital Preservation is key to long term wealth accumulation
  • #12
  • Nov 12, 2006 10:54am Nov 12, 2006 10:54am
Quoting MuddBuddha
I have to agree with Moe and the others. I dont trade the news....have in the past....but I'm more profittable trading standard intra-day.

I think, and this is NOT an expert opinion, but just a statement of observation of a friend in the chat room who trades the news successfully, that it takes a feel for the immediate action of the candle/bar and some finesse in executing the order at the right time. This I believe can only be learned through on the job training and is not something you can teach 100% effectively, nor expect everyone to master.

The news trader is a different trader than most. They just have a feel for abrupt market movements that others do not. They, the successful ones, can often tell if the movement is likely to continue, or peter out soon after the initial rush.

I have 1000% respect and admiration for them....but I wouldn't do it myself. I know my limitations.
Well Said
If I Go Broke Trying Then I Will die happy.
  • #13
  • Nov 13, 2006 4:48pm Nov 13, 2006 4:48pm
I broke my big toe and some more after a bad news that went really bad since both limit order got trigger and went wrong... Then i had bad idea to respond to the phone, my wife (with whom i MUST be polite) on the phone holding me to cut losts in time... I figure out the news wass't for me no more.. i follow technical only news are part of it.

Quoting MuddBuddha
I have to agree with Moe and the others. I dont trade the news....have in the past....but I'm more profittable trading standard intra-day.

I think, and this is NOT an expert opinion, but just a statement of observation of a friend in the chat room who trades the news successfully, that it takes a feel for the immediate action of the candle/bar and some finesse in executing the order at the right time. This I believe can only be learned through on the job training and is not something you can teach 100% effectively, nor expect everyone to master.

The news trader is a different trader than most. They just have a feel for abrupt market movements that others do not. They, the successful ones, can often tell if the movement is likely to continue, or peter out soon after the initial rush.

I have 1000% respect and admiration for them....but I wouldn't do it myself. I know my limitations.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #14
  • Nov 14, 2006 12:08pm Nov 14, 2006 12:08pm
i was watching the big anouncement this morning on the pound and in less than a second 23 pips were down. if you would have read that wrong and stacked on the lots then you would have been sore. thats what im talking baout trading news.
  • #15
  • Nov 15, 2006 7:24am Nov 15, 2006 7:24am
Quoting MuddBuddha
I have to agree with Moe and the others. I dont trade the news....have in the past....but I'm more profittable trading standard intra-day.

I think, and this is NOT an expert opinion, but just a statement of observation of a friend in the chat room who trades the news successfully, that it takes a feel for the immediate action of the candle/bar and some finesse in executing the order at the right time. This I believe can only be learned through on the job training and is not something you can teach 100% effectively, nor expect everyone to master.

The news trader is a different trader than most. They just have a feel for abrupt market movements that others do not. They, the successful ones, can often tell if the movement is likely to continue, or peter out soon after the initial rush.

I have 1000% respect and admiration for them....but I wouldn't do it myself. I know my limitations.
I absolutely agree with you Mudd.

News trading has it's own disciplines. If you try to apply TA trade disciplines with news trading you will lose more often than not...and probably big time.

Also, it is true that many people can trade the same report and 1 or 2 make money and the others complain about their losses. And the feel for that trade was something instinctive, learned through a process that just seems to make sense to each person. (or not)

This is why the Broker discussion is really a moot point. So many times I hear about horror stories that involve the very brokers that I use successfully. The difference is a very personal one. It has to be learned, but not all can. That is why there are some TA traders that are very successful...and some NEWS traders that are very successful, and Many in both categories that FAIL. By the way I use FXSol and FXCM for my news trades...I use them differently and both with great success.

And in both categories there are plenty of self proclaimed experts that blow a lot of wind...confuse all who listen to them...and set people up for failure. Many can be found in forex forums. They seem to tell you what do do but never tell you how they actually did. Hmmmm.

The most important thing imho for each of us is to just find out what works for us...learn our strenght's and weaknesses and learn how to trade with what we bring to the table. When we do that...then we can succeed.

Happy trading to all.

DC
"There is MORE Happiness in giving than receiving"
  • #16
  • Nov 15, 2006 9:32am Nov 15, 2006 9:32am
Quoting drcole1
I absolutely agree with you Mudd.

News trading has it's own disciplines. If you try to apply TA trade disciplines with news trading you will lose more often than not...and probably big time.

Also, it is true that many people can trade the same report and 1 or 2 make money and the others complain about their losses. And the feel for that trade was something instinctive, learned through a process that just seems to make sense to each person. (or not)

This is why the Broker discussion is really a moot point. So many times I hear about horror stories that involve the very brokers that I use successfully. The difference is a very personal one. It has to be learned, but not all can. That is why there are some TA traders that are very successful...and some NEWS traders that are very successful, and Many in both categories that FAIL. By the way I use FXSol and FXCM for my news trades...I use them differently and both with great success.

And in both categories there are plenty of self proclaimed experts that blow a lot of wind...confuse all who listen to them...and set people up for failure. Many can be found in forex forums. They seem to tell you what do do but never tell you how they actually did. Hmmmm.

The most important thing imho for each of us is to just find out what works for us...learn our strenght's and weaknesses and learn how to trade with what we bring to the table. When we do that...then we can succeed.

Happy trading to all.

DC
do you use fxcm no dealer option platform for news trading? or there dealer plaform?
If I Go Broke Trying Then I Will die happy.
  • #17
  • Nov 15, 2006 10:05am Nov 15, 2006 10:05am
Most of you know I've been using FXSol for some time. This past NFP I traded 200 lots (that's 20,000,000 units) of cable on FXSol. At 8:26 am, I accepted their "pip premium" which I believe was 25 pips, and added 5 pips so my straddle entry prices were 30 pips away from the current market and supposedly safe. This avoids the dreaded "price gap" which occurs during volatile trading.

FXSol still slipped me 20 pips and I ultimately received the big "MC".

So if you think FXSol doesn't slip traders during economic announcements, I direct your attention to the attached chart and trading history.
Attached File(s)
File Type: doc FXSol November 2006 NFP Results.doc   192 KB | 407 downloads
  • #18
  • Nov 15, 2006 10:13am Nov 15, 2006 10:13am
Quoting MoneyMa$ter
Most of you know I've been using FXSol for some time. This past NFP I traded 200 lots (that's 20,000,000 units) of cable on FXSol. At 8:26 am, I accepted their "pip premium" which I believe was 25 pips, and added 5 pips so my straddle entry prices were 30 pips away from the current market and supposedly safe. This avoids the dreaded "price gap" which occurs during volatile trading.

FXSol still slipped me 20 pips and I ultimately received the big "MC".

So if you think FXSol doesn't slip traders during economic announcements, I direct your attention to the attached chart and trading history.
Money$Master,

I agree. FXSol widens the market and slips. This is why I choose not to use entry orders with FXSol. I use market orders...and NOT on the original spike. I use them for fading...or getting in on the second or third minute candle...etc. I have not had any slippage using this method with FXSol.

I use another broker for my entry orders.

DC
"There is MORE Happiness in giving than receiving"
  • #19
  • Nov 15, 2006 10:24am Nov 15, 2006 10:24am
Doc you know I don't complain.

I've lived with their "pip premium", I've lived with 10-15 pip slippage in the past from FXSol and still profited. This time I nailed 31 pips at 200 lots valued at $62,000 profit, so a 20 pip slip plus MC voiding that gain .... kinda got my "attention".

Adapt. Improvise. Dominate.
  • #20
  • Nov 15, 2006 10:37am Nov 15, 2006 10:37am
Quoting MoneyMa$ter
Doc you know I don't complain.

I've lived with their "pip premium", I've lived with 10-15 pip slippage in the past from FXSol and still profited. This time I nailed 31 pips at 200 lots valued at $62,000 profit, so a 20 pip slip plus MC voiding that gain .... kinda got my "attention".

Adapt. Improvise. Dominate.
I would say!!! I have been increasingly disappointed in FXSol. I talked to them on more than one occasion about their widened market and slippage. They told me that the Widened market helped them guarantee against slippage !!??????? This certainly has been not the case since I have experienced much slippage. (although still not near as much as I did on GFT)

Plus they widened the spread to 5 on the GBP from 4 without even notifying me or anyone else I know who uses them.

I don't complain either MM, you know that, but they are not the same broker that I started with.

DC

p.s. I will continue to adapt and change so as to dominate.
"There is MORE Happiness in giving than receiving"
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