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  • Linked: WhyLose.com | Brokerage Account XXXXX41
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This Trade Explorer is no longer publicly available.
  • #401
  • Jan 19, 2007 11:24pm Jan 19, 2007 11:24pm
Error with the numbers before.
Do not focus on making money; focus on protecting what you have.
  • #402
  • Jan 21, 2007 6:41pm Jan 21, 2007 6:41pm
Do you think it was a mistake?
quote of the day: . It's like deja-vu all over again
  • #403
  • Jan 21, 2007 9:59pm Jan 21, 2007 9:59pm
Hi,

did FXDD resolve this issue for you?

-Mikhail

Quoting Why Oh Why
Date: 07:59 20th Jan 2007
From: "Why Oh Why"
To: "FXDirectDealer" <[email protected]>
Subject: Re: FXDirectDealer: Confirmation

Hi,

Please tell me why the positions were closed when I had no stop loss on them and there was not a margin call?

Also why the two shorts were closed simultaneously. How can there be no
profit on them? EURUSD is now at 2962 and you closed the longs at 2940. A
difference of 22 pips. I would prefer them to still be open. You closed the
positions and as it retraced you have cost me 7 times 22 pips - 152 - in open
profit against the open loss there should be. And the shorts closed by you
did hit TP. Why close them at break even. It's ridiculous.

I look forward to hearing from you.
  • #404
  • Jan 22, 2007 12:24am Jan 22, 2007 12:24am
why oh why ... I think there's a allot of us trading the forex market. By 'us' meaning the majority of candidates that do have a fair amount of experience and technical capabilities, but not always quite sure why we trade the way we do! How's your account doing at the moment?

Being a part-time enthusiast I started of with a live account that my brother opened about 6 months ago. He just couldn't get it on and blew about $600 in a matter of 5 months. I took the remaining $400 over as part of a New Year's resolution agreement between the 2 of us (Jan, 2007). To date, I've already profited (regained) the sum of $324 in 3 weeks 'till last Friday (19/01).

Not that I think it'll always be this good, but I do think it is very important to take longer term achievements into account. I've been evaluating my performance on several demo platforms for the past 2 years now, looking at profits on daily, weekly, monthly and even quarterly time frames. It is only now that I consider myself 'fit' enough to go live!

Beginners luck, I don't think so. Hey ... I'm no professional, but I firmly believe that 'self inflicted' experience and persistence is the best tools we have for successful trading.
============
  • #405
  • Jan 22, 2007 1:49am Jan 22, 2007 1:49am
I do think it was a mistake and I am not trading with this account until it is resolved. If it was a mistake I'd still be trading - currently at 2958. It retraced on Friday after the dip which I expected exactly as I thought it would. The near ideal resolution would be for the positions to be reinstated.

I expect some sort of communication which I'll post here on receipt.

And thanks for your kind words voodoo7 - good luck for the future. Keep it up.
Do not focus on making money; focus on protecting what you have.
  • #406
  • Jan 22, 2007 3:29am Jan 22, 2007 3:29am
[email protected] replied to a password change within 20 minutes. Over an hour later I am still waiting for a reply to my email from Friday which I also forwarded to that email address asking for a response. I'll keep you informed and if I here nothing within 24 hours I'll refer them here to answer publicly.
Do not focus on making money; focus on protecting what you have.
  • #407
  • Jan 22, 2007 4:36am Jan 22, 2007 4:36am
I will also be looking out for your post regarding their reply as I have account with them, Already I have experienced several problems but not as alarming as what happened to you here.

-Mikhail

Quoting Why Oh Why
[email protected] replied to a password change within 20 minutes. Over an hour later I am still waiting for a reply to my email from Friday which I also forwarded to that email address asking for a response. I'll keep you informed and if I here nothing within 24 hours I'll refer them here to answer publicly.
  • #408
  • Jan 22, 2007 6:22am Jan 22, 2007 6:22am
Hi,

I have not received a reply to my email sent on Friday which I also forwarded
to [email protected] today because I had an email back from that address
within 20 minutes when I raised a password query.

Please, there must be a simple explanation. What is it? I reported to you
within 24 hours as required by you if I consider the statement incorrect. I
consider it incorrect because you closed the trades and 2 without a profit
when both hit TP.

Sir, you require me to :- "Please report to us within 24 hours if this
statement is incorrect." Note - 24 hours. I reported to you within 1 hour of
the receipt of your email. It's now 52 hours and I'm still waiting for a
reply from you. This is clearly unacceptable.

I look forward to hearing from you.
Do not focus on making money; focus on protecting what you have.
  • #409
  • Edited 8:13am Jan 22, 2007 7:54am | Edited 8:13am
Stop out means that your equity (account balance+profit on open positions-losses on open position) is less than 30% of necessary margin. I'm not sure if your br0ker has the same formula for the stop-out calculation, but in general it means you have too many losing positions opened. In this case a br0ker can close all your positions, or some of them. "Over-loss" is another name for stop-out.
Could you place here your profit/loss report so we can see if the stop out occured indeed?
Ben
  • #410
  • Jan 22, 2007 9:10am Jan 22, 2007 9:10am
Thanks Benf. Here it is. The shorts show as 0.00 lots - any ideas as well? 17.01 was Consumer Sentiment time on FXDD. The six trades I refer to are the first six below. All trades from Friday are shown.

http://www.wildmonkey.org/fxdd/query.jpg

Do not focus on making money; focus on protecting what you have.
  • #411
  • Jan 22, 2007 9:28am Jan 22, 2007 9:28am
This has now been passed to Mike Zimkind Director of Sales/Operations at FXDD. He's been in touch and believes the "...original email went to our junk mail automatically.

Fortunately, Sheldon Matlow's email got to him without a problem. Make of it what you will.
Do not focus on making money; focus on protecting what you have.
  • #412
  • Jan 22, 2007 9:32am Jan 22, 2007 9:32am
During this week end of January 13th and 14th 2007 Liquidation
levels will be adjusted from the current 80% of required margin
to 100% of required margin also the Margin Call levels will be
adjusted from the current levels to 120%.

We trust that this adjustment will provide our customers with
prudent risk management. The liquidation parameters are set
in our software and liquidations will be triggered at the 100%
of required margin level.

As before, when liquidation is
triggered all the open positions for the account will be closed
automatically at next available price. Also as before when an
account is in margin call status (the ratio equity over required
margin is between 120% and 100%) all orders that increase
the account exposure will be rejected.
Do not focus on making money; focus on protecting what you have.
  • #413
  • Jan 22, 2007 9:44am Jan 22, 2007 9:44am
2 shorts should have covered 2 longs until the shorts hit TP. The balance on Friday was $45 less than below - new profitable trades made today. But do remember that the Closed Loss of $763.10 wasn't there at all! It was an open loss so the balance was higher by that amount.


http://www.wildmonkey.org/fxdd/query2.jpg

Do not focus on making money; focus on protecting what you have.
  • #414
  • Jan 22, 2007 9:55am Jan 22, 2007 9:55am
This may also help.

http://www.wildmonkey.org/fxdd/terminal.jpg

Do not focus on making money; focus on protecting what you have.
  • #415
  • Jan 22, 2007 9:59am Jan 22, 2007 9:59am
Quoting Benf
Stop out means that your equity (account balance+profit on open positions-losses on open position) is less than 30% of necessary margin. I'm not sure if your br0ker has the same formula for the stop-out calculation, but in general it means you have too many losing positions opened. In this case a br0ker can close all your positions, or some of them. "Over-loss" is another name for stop-out.
Could you place here your profit/loss report so we can see if the stop out occured indeed?
Well, by my calculation I was never below 30%. I look forward to your return but if anybody else can assist I'd appreciate it.
Do not focus on making money; focus on protecting what you have.
  • #416
  • Edited 1:10pm Jan 22, 2007 12:34pm | Edited 1:10pm
WOW, I cannot decipher the exact equity amount for the moment they close your position(s) because of stop-out, but it seems you never reached a dangerous margin level. I guess it's a mistake that caused by your br0ker trading server adjustments they announced.
Let's wait for their explanation of what happened to your account. You did very well by stop trading until the problem resolution.
Ben
  • #417
  • Jan 22, 2007 12:57pm Jan 22, 2007 12:57pm
Still waiting for a reply from a director. If I don't have a reply within 8 hours I'll consider my options.
Do not focus on making money; focus on protecting what you have.
  • #418
  • Jan 22, 2007 3:13pm Jan 22, 2007 3:13pm
Quoting Why Oh Why
This has now been passed to Mike Zimkind Director of Sales/Operations at FXDD. He's been in touch and believes the "...original email went to our junk mail automatically.

Fortunately, Sheldon Matlow's email got to him without a problem. Make of it what you will.
Why Oh Why
Send this Mike guy another email and ask to have this matter resolved ASAP, tell him that FXDD's reputation is wearing thin around the edges because of thier slow response, and you have 30,000 members of Forex Factory waiting on his reply!
Roy
Polishing my crystal ball
  • #419
  • Edited 6:39pm Jan 22, 2007 6:26pm | Edited 6:39pm
From looking at the two bits of data you posted (and I know it doesnt give a completely true reflection of events) my reasoning would be as follows

You seem to be -$638 in trade, with $737 in reserve

from their new figures you must have 120% free margin in order to be sure you avoid a margin call.

120% of 638 would be $766

you also seem to be carrying a significant loss in swaps.

so from the figures you show in your account it seems you fell below the minimum value of $766 by at least $29 and they therefore closed your trades.



I would be pleased to be wrong however.
quote of the day: . It's like deja-vu all over again
  • #420
  • Jan 22, 2007 9:32pm Jan 22, 2007 9:32pm
Oh well. I got to 81 consecutive profitable trades. I would have liked to make a 100. Shame. At least my understanding of a margin call with FXDD has improved.

Date: 22:08 22nd Jan 2007
From: "Michael Zimkind" <[email protected]>
To: Whu Oh Why
Subject: RE: FXDirectDealer: Confirmation

Actually, in this instance, there was a margin call.Your positions were closed and you were liquidated on 1/19/07 at 10:01 AM.

In the statement attached you can see that positions were closed all at
the same time by our system because you reached the 100% liquidation
level.

You will see that there are 2 tickets (#2062062561 and #2062062762) were
both closed against tickets 2062010272 and 2062065767 respectively and
you will see that the first two show 0 P/L. This is because they were
closed as one ticket.

I hope this helps alleviate your concern, but you should realize that
your positions were infact liquidated.

Please let me know if you have any further questions or concerns.
Do not focus on making money; focus on protecting what you have.
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