DislikedIt sounds like you've heard my response before about not being able to give tax advice ....Ignored
Buy Stop Limit and Sell Stop Limit Orders on MT4 6 replies
Auto SL/TP & buy limit, sell limit/buy stop, sell stop EA/indi 2 replies
Difference between buy limit, sell limit, buy stop, & sell stop? 4 replies
NFA New Rule Not allowing stop and limit orders 74 replies
NFA Rule "No Stop/Limit Orders" Not for all US Brokers 8 replies
DislikedYes it is. A 'simple call' presumably results in obsfucation at best, downright lying at worst.
I trade baskets of trades using relative strength. I have written a successful robot to do this for me; others are using it with equal success.
Take the case where, for example, the JPY is weak against a basket of other currencies. Those pairs become buy against the JPY.
The basket can sometimes become 'stuck' in that it does not move in my favour for a few days, sometimes even weeks. Eventually, the basket will even out and return to a stage at which...Ignored
DislikedHere is something I noticed that is interesting. I trade with FXCM and have no complaints. In the face of the change to stops and limits, I have started playing with FXCM MT4 demo account.
The spreads are outrageous compared to my real account. Does FXCM charge higher spreads to UK held accounts than US held accounts. Right now, for example, the EJ spread is 1.2 pips in the real account, but it is 3.2 in the FXCM MT4 demo.
I se 1.4 EURUSD vs 2.4 in the MT4 Demo.
Has anyone else noticed higher spreads depending upon which platform or whether...Ignored
Dislikedhi ddaytrader,
The spread is the same whether you go through FXCM US or FXCM UK.
The most likely reason for seeing a difference in the spread is if you are comparing a micro account with the MT4 account. Spreads on the micro account are 1-2 pips tighter on average than the MT4 accounts since FXCM Micro is our discount brokerage. Micro provides tighter spreads since there is no live support by phone or chat.
JasonIgnored
DislikedSo if one does not need the MT4 platform, then it would be better to stay with Micro, rather than standard.
If it is not out of bounds for this forum to ask, what advanatages would switching to a standard 10K account have over staying with micro?
Thank you,
ddaytraderIgnored
DislikedIf you are not making a deposit that will bring the account balance more than 5k, micro is a good option as the spreads are very good. I also demoed the MT4 UK and you are right on the spreads being higher, the EURUSD on the MT4 UK is around 2.6 to 3 pips most of the time. However, I have experienced ZERO requotes and the trades are executed immeditately. I would say that even with the larger spreads you make up for it with the no requotes and execution. I contacted FXCM about the larger spreads and they said something about the spread being 1/10...Ignored
DislikedI think if the account is over 5K, then you have to do standard 10k. But the account balance can go higher than 5k in a micro account is it is due to profits.
I had a lot of requotes with FXCM years ago, but I do not remeber the last time I experienced a requote. With forex.com, every order seemed to first have to go through 20 requotes before I'd get a fill.
I wish FXCM would still provide for bracket orders, where I could set a buy stop with an attached stop loss and take profit order. I trade futures as well, and my futures broker, also...Ignored
DislikedI think if the account is over 5K, then you have to do standard 10k. But the account balance can go higher than 5k in a micro account is it is due to profits.
I had a lot of requotes with FXCM years ago, but I do not remeber the last time I experienced a requote. With forex.com, every order seemed to first have to go through 20 requotes before I'd get a fill.
I wish FXCM would still provide for bracket orders, where I could set a buy stop with an attached stop loss and take profit order. I trade futures as well, and my futures broker, also...Ignored
DislikedI'll take note of your requests. The functionality you mentioned has come up frequently as a request now that we're instituting OCO orders.Ignored
DislikedThe requotes would have occurred back in 2006 whenever execution was through a dealing desk; however, this changed since our execution model has changed to no dealing desk and the orders are passed through to the banks.Ignored
DislikedYeah, as long as the account does not go over 5k due to a deposit, then profits can take it higher and u dont have to withdraw. Regarding bracket, try interactivebrokers, there are more order types there than you could learn in a year. lol. You can trade futures, ie gold oil etc thru the same account, and even options on forex futures and use the equity for any type of instrument on the combined account. Downside is forex margin currently is 40:1 but spreads are great and execution even better, is an ECN. They are a member of FINRA so they may have...Ignored
Dislikedfx solutions now trade gold silver........ has anyone transferred their account to fx solutions to austrailia?
my opinon those transferring overseas perhaps should keep an account here in the US as well or have two for reasons already discuss in other posts.Ignored
DislikedSo lets say I place an entry order to buy at 1.5000
I want my tp level to be 1.5050 and my sl to be 1.4950
Under the new rule....I have to place 2 additional entry sell orders at the same lot size at 1.5050 and 1.4950 so that I can exit?
What if my entry buy order is never hit but the price drops to 1.4950?
Do I end up getting in on that unprotected sell entry order that I don't even want?
Folks...I'm telling you right now....as much advantage as those people have over us already...I am very close to being done with retail forex...Ignored
DislikedBrokers wars coming soon to a nearby theatre ...
Stay tuned, only the nimble and proactive brokers will win clients.Ignored
DislikedIf they choose to be competitive, then I would say you are right. If all US Fx dealers decide to eliminate the SL and TP, then we will have to adjust or move offshore.
I really hope FXCM does the right thing and allows SL and TP, at least for the first order. I generally an "all in" at entry, and even allowing for the first order would solve the problem for those who trade similarly.Ignored