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NFA - "No more Limit or Stop Loss orders"

  • #501
  • Nov 3, 2009 8:44pm Nov 3, 2009 8:44pm
Quoting ENWBill
OK Jason....First off the Boston Technology Virtual Dealer software to the best of my knowledge was not as you say... "designed" by Metaquotes"... If you have information contrary.... I'll listen....My experience with FXCM had YOUR system occasionally (always at suspect times...NO news etc) locking up my ability to close orders....(or do ANYTHING trade wise....) until I called your customer service.....and they magically did a reset....and all worked again....(until the next crisis....) The real question is should I trust you..and FXCM....and...
FXCM good with their own software...horrible with MT4
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  • #502
  • Nov 3, 2009 9:21pm Nov 3, 2009 9:21pm
I posted this image in another forum but after reading the previous post, I thought it might be useful to post here as well.
Though the high/lows are the same, the close price is way off between the two (left TS and right MT4).
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  • #503
  • Nov 6, 2009 9:53am Nov 6, 2009 9:53am
Quoting wwwin
FXCM good with their own software...horrible with MT4
I agree ... FXCM hands down is the worst MT4 feed out there.

Jason, do you folks know how unreliable your MT4 data is? If so, do you not care? Why has FXCM not taken steps to make the MT4 data as stable and reliable as the FXCM Trade Station? I would like to use MT4, but I run the MT4 demo alogside the Trade Station, and until I see 20 consecutive stable trading days, I have no desire to fund my MT4 account. FXCM MT4 has been freezing and disconnecting all day.

FXCM Trade station - no problems. It has been perfect, as ususual.
  • #504
  • Nov 6, 2009 10:21am Nov 6, 2009 10:21am
It's probably not an FXCM problem, but an MT4 problem. MT4 is not good software, any way you slice it. I have never traded live on MT4, but I've tried demos from several different brokers and I always get the same trouble. I only use it on the rare occasion in which I want to see a chart. I honestly don't know how anybody trades with it.

Smoke
  • #505
  • Nov 8, 2009 10:30am Nov 8, 2009 10:30am
Quoting ddaytrader
I agree ... FXCM hands down is the worst MT4 feed out there.

Jason, do you folks know how unreliable your MT4 data is? If so, do you not care? Why has FXCM not taken steps to make the MT4 data as stable and reliable as the FXCM Trade Station? I would like to use MT4, but I run the MT4 demo alogside the Trade Station, and until I see 20 consecutive stable trading days, I have no desire to fund my MT4 account. FXCM MT4 has been freezing and disconnecting all day.

FXCM Trade station - no problems. It has been perfect, as ususual.
Ddaytrader, use their freeze ups during strong move to your advantage...anytime their MT4 freezes, it means strong move is coming in the direction it was going before the freeze, trade it with the regular FXCM software and enter at the spot of the freeze...see pic...good for 50 pips everytime form the spot where it freezed....let's call it the FXCMT4freezepop indicator. LOL. They should add it to their DailyFX Plus signals.
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  • #506
  • Edited 11:12am Nov 8, 2009 10:35am | Edited 11:12am
[/quote]
Quoting Madmax1952
I have no doubt they will come to pass. One more "nail in the coffin" designed to kill "speculators."

It just goes to show how little they understand and how frightened they are that the truth may come to light about their role in this mess.

SpecNulators are a "good thing" not a "bad thing," they provide additional liquidity and their stops and limits (now banned) provided a counter weight to help markets rebound or debound (is that a word?) whatever the case may be.

Remove them from the equation and there is nothing to stop a freefall,...

hoi has anyoner had this experience with MIG or Forex.com. Now that I read your post I was trading the NFP on friday and got "trade disabled" on Forex.com MT4. I was also trading the BOE scalping, caught 2 huge spikes in a row to stop my SL before the BOE release. NFA new regulation is blatant &^%^(^%%%)*%Survive the SL Hunt... mq4

http://twitpic.com/show/thumb/orrki.jpg
  • #507
  • Nov 8, 2009 12:10pm Nov 8, 2009 12:10pm
Quoting wwwin
let's call it the FXCMT4freezepop indicator. LOL. They should add it to their DailyFX Plus signals.
Thanks, wwwin, I will keep an eye out for that in the future. But now that Jason knows the FXCMT4freezepop indicator, FXCM will likely fix the freezes lol.
  • #508
  • Nov 8, 2009 3:35pm Nov 8, 2009 3:35pm
Quoting ddaytrader
Thanks, wwwin, I will keep an eye out for that in the future. But now that Jason knows the FXCMT4freezepop indicator, FXCM will likely fix the freezes lol.
Yeah, you are right, now that is public, they will change the indicator settings. Nothing lasts forever. Another system proves to be worthless over time. LOL.

On a serious note, Jason said that SL and TP would be available today but I don't see any updates to the software, I guess I have to deal with OCOs at least another week.
  • #509
  • Nov 9, 2009 9:26am Nov 9, 2009 9:26am
Quoting wwwin
Yeah, you are right, now that is public, they will change the indicator settings. Nothing lasts forever. Another system proves to be worthless over time. LOL.

On a serious note, Jason said that SL and TP would be available today but I don't see any updates to the software, I guess I have to deal with OCOs at least another week.
Hi wwwin,

The stop loss and limit orders in the summary window were delayed until next weekend. We will be adding the user guide and video information to the DailyFX forum on Friday to go over the new feature.

If you experience any tech issues on MT4, please contact us in real time for us to investigate.

Jason
  • #510
  • Nov 9, 2009 9:31am Nov 9, 2009 9:31am
Quoting Jason Rogers
Hi wwwin,

The stop loss and limit orders in the summary window were delayed until next weekend. We will be adding the user guide and video information to the DailyFX forum on Friday to go over the new feature.

If you experience any tech issues on MT4, please contact us in real time for us to investigate.

Jason
Thanks for the update Jason, another week is not a big deal. On the MT4, I am just testing the demo, same as ddaytrader, and until the MT4 feed is up to par with the regular feed, I would not open live on MT4, so I doubt that I can have tech support investigate. Thanks again.
  • #511
  • Nov 9, 2009 10:34pm Nov 9, 2009 10:34pm
hey, did you guys hear about fxpro pulling out of the u.s.? they aren't accepting u.s. clients anymore, i think it is because too much regulation is being set forth by the nfa, no hedging, changing margin requirements, this, and that, the u.s. fx market is becoming less lucrative i think
  • #512
  • Nov 10, 2009 9:15am Nov 10, 2009 9:15am
Quoting Jason Rogers
Hi wwwin,

The stop loss and limit orders in the summary window were delayed until next weekend. We will be adding the user guide and video information to the DailyFX forum on Friday to go over the new feature.


Jason
Please try and push to have them defaulted.
Thanks.
Money Talks - Wealth Whispers . . .
  • #513
  • Nov 10, 2009 9:24am Nov 10, 2009 9:24am
Quoting * Snow *
Please try and push to have them defaulted.
Thanks.
Will do!
  • #514
  • Nov 11, 2009 4:43pm Nov 11, 2009 4:43pm
Quoting * Snow *
Please try and push to have them defaulted.
Thanks.
Well it looks as if you cannot put the SL or TP at the same time you open the order. You have to have an open position and then have to go to the summary window to put the SL and TP.
  • #515
  • Nov 11, 2009 6:09pm Nov 11, 2009 6:09pm
Quoting wwwin
Well it looks as if you cannot put the SL or TP at the same time you open the order. You have to have an open position and then have to go to the summary window to put the SL and TP.
Then what is the point?
  • #516
  • Nov 11, 2009 6:49pm Nov 11, 2009 6:49pm
Quoting ddaytrader
Then what is the point?
Yeap, basically same as before, just a little bit less of a hassle than OCO. But if you can't put TP or SL to a pending order, nothing is new, same loss of functionality. THEY JUST DON'T GET IT.
It's semantics, they think b/c they now call it TP and SL rather than OCO, that it improves the functionality. They are ruining what was a good platform.
  • #517
  • Nov 11, 2009 6:53pm Nov 11, 2009 6:53pm
Quoting wwwin
Yeap, basically same as before, just a little bit less of a hassle than OCO. But if you can't put TP or SL to a pending order, nothing is new, same loss of functionality. THEY JUST DON'T GET IT.
It's semantics, they think b/c they now call it TP and SL rather than OCO, that it improves the functionality. They are ruining what was a good platform.
Well, I did go to the UK, and so I get to use the old platform ... for now.

I am very disappointed that FXCM has chosen to continue in this vein, however.
  • #518
  • Nov 11, 2009 7:03pm Nov 11, 2009 7:03pm
Quoting ddaytrader
Well, I did go to the UK, and so I get to use the old platform ... for now.

I am very disappointed that FXCM has chosen to continue in this vein, however.
Well I was hoping that they would understand that traders sometimes place a limit order (what they call an entry order) and need SL and TP on that order preset. But this is very disappointing. Well I will be just trading with Interactive and will find another broker for small trades. I think I have had enough of their nonsense, so I am not going to go UK, and besides I don't want to have to worry about filing IRS foreign account forms.
  • #519
  • Nov 25, 2009 7:37pm Nov 25, 2009 7:37pm
Quoting narfzort75
hey, did you guys hear about fxpro pulling out of the u.s.? they aren't accepting u.s. clients anymore, i think it is because too much regulation is being set forth by the nfa, no hedging, changing margin requirements, this, and that, the u.s. fx market is becoming less lucrative i think
I just got an email from IBFX and they are opening an office in the UK - they are probably losing tons of clients because of the NFA's BS. I like IBFX so it's great now I can keep an account with them and get away from the NFA's oppression.
  • #520
  • Dec 11, 2009 6:37pm Dec 11, 2009 6:37pm
Quoting wwwin
FXCM good with their own software...horrible with MT4
You ain't kidding - it looks like their "non-dealing desk" dealing desk left early for the weekend. All data stopped at 20:59, whereas in the rest of the world I have data for another hour!

What's up, Jason?
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