Does anyone running Interbank FX MT4 platform know if they disable the Buy/Sell Stop/Limit orders 15 minutes before big news ?
I got up at 05:00pst to trade on the NFP news.
GF, GU and UJ
I was going to set Stop/Limit orders for GU and UJ and then just trade the GY 'live'.
Well, a few minutes before hand, go to set my orders and it would NOT allow me to 'Place' the orders.
Getting frustrated, double checking my ways and realize, I'm NOT doing it wrong, it just won't PLACE the orders.
Well, seconds before the news was supposed to break ( I have an Atomic clock set to UTC), still won't place, I jump over to the GY chart.
Well, the damn news was realeased a few seconds early and you know how that goes.
It had already dropped 100+ pips and I ended up missing out lots of pips, on three pairs.
Didn't want to chance getting in after the chaos started, so just sat on the sidelines and mourned my two trades that go stopped out by just 2 pips, overnight.......
Minutes after the mayhem slowed, I WAS able to place stop/limit orders just like usual.
Well, lesson learned.
Is this a normal thing that brokers do ? (just started trading in December)
I'd love to know others thoughts of this.
Personally, I think it's totally bogus.
But then again, losing out on about 1K in Pips would do that to someone.
Cheers,
Kurt
I got up at 05:00pst to trade on the NFP news.
GF, GU and UJ
I was going to set Stop/Limit orders for GU and UJ and then just trade the GY 'live'.
Well, a few minutes before hand, go to set my orders and it would NOT allow me to 'Place' the orders.
Getting frustrated, double checking my ways and realize, I'm NOT doing it wrong, it just won't PLACE the orders.
Well, seconds before the news was supposed to break ( I have an Atomic clock set to UTC), still won't place, I jump over to the GY chart.
Well, the damn news was realeased a few seconds early and you know how that goes.
It had already dropped 100+ pips and I ended up missing out lots of pips, on three pairs.
Didn't want to chance getting in after the chaos started, so just sat on the sidelines and mourned my two trades that go stopped out by just 2 pips, overnight.......
Minutes after the mayhem slowed, I WAS able to place stop/limit orders just like usual.
Well, lesson learned.
Is this a normal thing that brokers do ? (just started trading in December)
I'd love to know others thoughts of this.
Personally, I think it's totally bogus.
But then again, losing out on about 1K in Pips would do that to someone.
Cheers,
Kurt