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Broker With Guaranteed order execution?

  • #1
  • First Post: Jan 5, 2007 8:42am Jan 5, 2007 8:42am
Hello,

Im currently trading in FXDD and right now i jsut lost -54 pips because of NFP. But these trades should have been +125 pips. I had both sell and buy stop orders, my sell stop order got fulfilled 30 points away from my order, then since the TP is now above the open price, then they close the position at the TP price ending in a loss.

Quite ridiculouse in the way I see it. Im now looking for another broker since this is the second time this happened, whats the use of pending orders if they will not be executed at the requested price.

Does anybondy here know any good brokers with guaranteed order execution?

Thanks,
Mikhail
  • #2
  • Jan 5, 2007 8:45am Jan 5, 2007 8:45am
I had a perfect hedge today with Oanda and no slippage. They don't guarantee anything but their service during NFP today was great. My stop loss was honored to the decimal on the losing position.
  • #3
  • Jan 5, 2007 8:50am Jan 5, 2007 8:50am
I have not heard of ANY brokers who guarantee ANYTHING on non-farm payroll days, but I have never (knock on wood) had a problem with my pending orders getting filled with FX Solutions. The most slippage I have ever noticed on entry orders was 2 pips. I have had no problems to date with stop loss or take profit orders. I did read in an FX book that if your stop loss order is ever not filled (this goes for any broker), then DO NOT close the position manually. Instead, wait a while to see if the order is eventually filled and if it isn't, then call your broker to discuss the situation. I realize that doesn't help with your situation today, but it may prove useful in the future.
  • #4
  • Jan 5, 2007 11:36am Jan 5, 2007 11:36am
Quoting nitman
I had a perfect hedge today with Oanda and no slippage. They don't guarantee anything but their service during NFP today was great. My stop loss was honored to the decimal on the losing position.
My experience with Oanda FXTrade is the same. With a total of nearly 1,700 trades and numerous NFPs, using limit orders, I have only ever had slippage once and then of just 2 pips. I had 11 trades TP between 08:30:01 EST thro 08:30:58 EST today with no slippage at all.
  • #5
  • Jan 5, 2007 9:52pm Jan 5, 2007 9:52pm
Does Oanda have Mt4?



Quoting fx4fun
My experience with Oanda FXTrade is the same. With a total of nearly 1,700 trades and numerous NFPs, using limit orders, I have only ever had slippage once and then of just 2 pips. I had 11 trades TP between 08:30:01 EST thro 08:30:58 EST today with no slippage at all.
  • #6
  • Jan 5, 2007 10:16pm Jan 5, 2007 10:16pm
Quoting mikhaildgreat
Does Oanda have Mt4?
No, they do not. They, however, have their own API, but it is a bit pricy. I've heard of someone interfacing the API with MT4 through some 3rd party software, but I would just stick with the no answer and move on.
  • #7
  • Jan 5, 2007 11:45pm Jan 5, 2007 11:45pm
Quoting mikhaildgreat
Hello,

Im currently trading in FXDD and right now i jsut lost -54 pips because of NFP. But these trades should have been +125 pips. I had both sell and buy stop orders, my sell stop order got fulfilled 30 points away from my order, then since the TP is now above the open price, then they close the position at the TP price ending in a loss.

Quite ridiculouse in the way I see it. Im now looking for another broker since this is the second time this happened, whats the use of pending orders if they will not be executed at the requested price.

Does anybondy here know any good brokers with guaranteed order execution?

Thanks,
Mikhail
This does not sound right at all. You've been robbed. You should not accept this situation and if I were you I would be contacting FXDD immediately for a refund.

You are right to look for another broker. FXDD is very bad for news trading.
  • #8
  • Jan 6, 2007 12:13am Jan 6, 2007 12:13am
Quoting mikhaildgreat
Hello,

Im currently trading in FXDD and right now i jsut lost -54 pips because of NFP. But these trades should have been +125 pips. I had both sell and buy stop orders, my sell stop order got fulfilled 30 points away from my order, then since the TP is now above the open price, then they close the position at the TP price ending in a loss.

Quite ridiculouse in the way I see it. Im now looking for another broker since this is the second time this happened, whats the use of pending orders if they will not be executed at the requested price.

Does anybondy here know any good brokers with guaranteed order execution?

Thanks,
Mikhail
hey mate after you read my journal you will be happy you only lost 54 pips some poor bastard lost over 300 and I was the one who benefited... One day you news trader will learn... sorry for the loss but it could of been worse.

turbo
  • #9
  • Jan 6, 2007 12:21am Jan 6, 2007 12:21am
Quoting turbokaos
hey mate after you read my journal you will be happy you only lost 54 pips some poor bastard lost over 300 and I was the one who benefited... One day you news trader will learn... sorry for the loss but it could of been worse.

turbo
I thought forex was about losing/winning money not pips.
Stubbornly persistent
  • #10
  • Jan 6, 2007 1:12am Jan 6, 2007 1:12am
Can Anyone suggest a good broker that uses Mt4 platform?


Thanks,
Mikhail
  • #11
  • Jan 6, 2007 2:14am Jan 6, 2007 2:14am
Quoting sergiu
I thought forex was about losing/winning money not pips.
sorry mate... let me fix that some poor bastard lost around 6k

I hope it wasn't any one @ the factory
  • #12
  • Jan 6, 2007 2:31am Jan 6, 2007 2:31am
Quoting PipStar
This does not sound right at all. You've been robbed. You should not accept this situation and if I were you I would be contacting FXDD immediately for a refund.

You are right to look for another broker. FXDD is very bad for news trading.
All I got to say is not even OJ's Dream Team could get a refund on this one are you kidding me during NFP you must be dreaming
  • #13
  • Jan 6, 2007 4:00am Jan 6, 2007 4:00am
Yup, I dont expect a refund. But Im sure not to trade with FXDD anymore.

Mikhail

Quoting turbokaos
All I got to say is not even OJ's Dream Team could get a refund on this one are you kidding me during NFP you must be dreaming
  • #14
  • Jan 6, 2007 4:16am Jan 6, 2007 4:16am
Quoting mikhaildgreat
Yup, I dont expect a refund. But Im sure not to trade with FXDD anymore.

Mikhail
Mate i'm sorry but the odds of it happening are just as likely any place else
  • #15
  • Edited 4:48am Jan 6, 2007 4:18am | Edited 4:48am
Lets take a look at this a little deeper and first under stand how this can happen. The FX market place is made up of people (banks, institutions, ect, ect.). biding and offering currencies at a given price. The spread fluctuate because someone is buying someone’s sell and someone’s sell is being bought.

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
The mkt doesn’t go
01/04
02/05
03/06
Even thou it may look at way on your screen but that’s because of the fixed spread.

<o></o>
It look more like this:
01/02
01/03
02/02
04/03
02/03
02/02
And so forth… No that not a typo in the inter bank the market can go inverse IE:04/03

So why all this is going on you’re retail broker I find is usually two pips behind this if not more (LOL) so not only are the making the spread but even an extra pip hear and there.

Now the reason why you got a bad fill you need to take a took at a tick chart to seen what was the next trade…

<o></o>
Let say the mkt was 20 your stop/limit is at 15 but the next trade is 10 well you going to get 10 and not 15… I mean there just not going to give money away.

<o></o>
On the inter-bank the spreads can widen 1pips to 300 pips and there is not an and un limited amount at every price and that only get smaller as it filters down to the retail shops… There maybe been 10 other people around w/ the same exact limit but FXDD only has so much to give out… and if that the case everything go to the next best price even if it 300 pip away.

<o></o>
no it not likely to happen but chances does exists.

<o></o>
During NFP the inter bank looks more like this:
01/15
05/35
12/02 ß--there is only so much to be give at X price and FXDD is inline too which then they have to pass it to you
22/22
45/60
03/12

Then it will begin to settle down and come back 1 to 2 pip spread.

<o></o>
This just doesn’t go for FXDD but all of them even Oanda. Now there is one problem which is a conflict of interest FXDD let you trade but they really don’t wan to loose money because there business model need you to loose. To me it looks like when it comes to order getting filled mini account seem to have priority from the people I have spoken with they see to have little more luck but I think no luck at … If you where running a company and you the choice to make 100 or 4000 what would you do… You only have so much to give out at X price if you give to the big guy you only make a few hundred buck cause if you blow all the little guys they might not put more funds in there account… If it was I take the bigger guy and make the little guy feel like always wining … They aren’t doing any thing wrong cause there isn’t s rule say how they have to distribute the X amount they have because there isn’t and never will be and infinite amount at X price so they just give it to the little guy fist because sooner or later he will think he has found the grail and step up to a standard account and this will just continue to happen.

<o></o>
Let think back hmm what 6 maybe 8 months people where killing at Oanda all you had to do was wait 1min before the news then set a straddle 3pips away w/ 5pips stop and it was almost a sure thing for a little while… but that didn’t last long cause now Oanda widen there spread.. Whats even more funny how different people spread are wider for longer periods of time… Just a small observation I took note of while talking to diff people… any one under 25k as never seen Oanda spreads held wide for more than a min but people over 50 have seen them stay wide for as long as 10min… hmmm

<o></o>
Funny how before most people found this little new trick Oanda was the best broker on the block I do recall but many left Oanda once they started to widen there spreads but have since then have gone back I wonder? This is nothing new you use to be able to this at FXCM or Gain…. But its all short lived.

<o></o>
Now there is a data fed auto clicker that get you before the spike ingénues I think but just like at Oanda its simple fix widen the spread a byte more or for other shops just delay the time a few more sec so you can trade like FXCM all ready does then what…

<o></o>
Your not going to open up multi bank account and hit the mkt button like you think just ask the owner of one of these auto clickers…

<o></o>
Nothing more than a Dog chasing his tail…

<o></o>
For the time being go get as much as you can but under stand the risk nothing is fail safe

<o></o>
But I do have to admit there always this felling of how good new trader are doing so I’m willing to put my money where my mouth is so I offer this

<o></o>
News Trader Challenge

Show me a live account statement that goes back at least one year showing that you have/are successfully trading the news with a least 1 standard contract (100,000) this should be more if your doing well.

<o></o>
The first person that can provide this in the next 7days I will fly to <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1:country-region w:st="on"><st1lace w:st="on">Costa Rica</st1lace></st1:country-region> all expenses paid vacation.
  • #16
  • Jan 6, 2007 8:14am Jan 6, 2007 8:14am
what broker are you currently using turbokaos?

So what do you, do you just stay away from the market when there is a major news data?

And I would love to go to costa Rica. but give me until next months NFP, I will once again trade the news. If my new broker honors my orders then that would mean im going to costa rica.

-Mikhail
  • #17
  • Jan 6, 2007 2:08pm Jan 6, 2007 2:08pm
I would luv to see ya here

I use ODL Prime... and trade using the currenex platform I have used the hotspotfxi platform but that one does't have stop order function so when you trading short term trade you can't even get up and take a piss. I have theabitilty to trade on the lavafx platform as well but have never so I'm pretty happy w/ the currnex platfomr.

As far as ODL Retail platform what I call the old one or the green one it is terrible you can make a trade over the phone faster than you can place a trade during normal mkt conditions. The where suppose to come out w/ a new back in Oct of 05 which i will call the red one let just say it didn't come out untill Oct of 06 I heard is crashed on NFP. So from what I have heard is they are going to be white labeling the currnex platform for there retail feed a well I just heard this last night so give me a few days to confirm this.

turbo
  • #18
  • Jan 8, 2007 7:45am Jan 8, 2007 7:45am
Quoting fx4fun
My experience with Oanda FXTrade is the same. With a total of nearly 1,700 trades and numerous NFPs, using limit orders, I have only ever had slippage once and then of just 2 pips. I had 11 trades TP between 08:30:01 EST thro 08:30:58 EST today with no slippage at all.
Well, my experiences seem to be quite different. Straddling last NFP with stop limits at 15 pips from the price I got slipped 34 (!!) pips on FxTrade. I still made a profit, but that kind of execution is just unacceptable.

I am more and more fed up with slippage & spread widening, I am seriously considering moving to futures, the problem is that I got a little knowledge and zero experience in futs. So it probably will take some time. Does anyone have live experiences trading fx futures during news? Any comments are appreciated!

Happy trading to all!!

Oyster
"It takes hard work, but ya know what's comin' after..."
  • #19
  • Jan 8, 2007 8:15am Jan 8, 2007 8:15am
I have been trading futures for over 10 years mostly currencies thru the CME. While futures are subject to the same volitility as forex, I think it is easier to get a decent fill during news releases. I would suggest that you monitor CME E-quivalents to see how futures and forex trade during news releases. Good trades to you!
  • #20
  • Jan 9, 2007 4:53pm Jan 9, 2007 4:53pm
Quoting lordo
I have been trading futures for over 10 years mostly currencies thru the CME. While futures are subject to the same volitility as forex, I think it is easier to get a decent fill during news releases. I would suggest that you monitor CME E-quivalents to see how futures and forex trade during news releases. Good trades to you!
Hi Lordo , i have a question , in the afternoon CME closes, this is also for currencies future or there is a possibbility to continue elettronically ?
Thanks
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