Nasdaq will cancel trades today. Will FX brokers do that?? | Forex Factory

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Nasdaq will cancel trades today. Will FX brokers do that??

  • #1
  • First Post: May 6, 2010 6:01pm May 6, 2010 6:01pm
http://www.reuters.com/article/idUSTRE6456QB20100506

Is it possible that FX brokers cancel my trades today?? I just sent an email to FXDD.
  • #2
  • May 6, 2010 6:03pm May 6, 2010 6:03pm
100% possible, yes
  • #3
  • May 6, 2010 6:08pm May 6, 2010 6:08pm
Quoting Sim
100% possible, yes
How are you sure its 100% possible. Was there a past event that FX brokers made massive profit deletion??
  • #4
  • May 6, 2010 6:22pm May 6, 2010 6:22pm
Probably not.

Forex is unregulated,over the counter there are no circuit breakers, no liquidity replenishment points, no after market hours, or any of that stuff. If you want to place an order to trade at any point during the 24 hours you can do that. Whether the market is volatile, semi volatile, or once in a year volatility like today you can get it done just as long as you are willing to accept the prices offered by the market.

The forex market legitimately traded at the price levels, its not like it was some erroneous tick, wayy off market fill.

Now you could argue that the erroneous trade in the stock market caused people to have a high degree of risk aversion,thus dumping the carry trade and buying dollars and yen across the board but it doesn't matter.

Today probably sucked for a certain number of funds that were grossly mispositioned for the action and got slipped badly on their stop orders for sure. But that's just the way the forex market works. 24 hour trading means 24 hour potential for volatility and the ability for people to panic and start dumping billions of dollar orders into an illiquid market.
Private message me for a link to my order flow website.
  • #5
  • May 6, 2010 6:35pm May 6, 2010 6:35pm
It's possible, if you made some serious dough with a market maker. Remember, these MM's aren't that big...

If you were ECN, you just robbed another bloke.

Like the guy above me said, it wasn't that it was a spike or a misfeed, and your orders couldn't get filled. It was actual movement, so most likely your trade won't be canceled, unless you robbed your MM to the bone.
  • #6
  • May 6, 2010 6:36pm May 6, 2010 6:36pm
ECNs don't match you up to other people buddy,, just to larger liquidity providers
  • #7
  • May 6, 2010 6:39pm May 6, 2010 6:39pm
Quoting Tbb
It's possible, if you made some serious dough with a market maker. Remember, these MM's aren't that big...

If you were ECN, you just robbed another bloke.

Like the guy above me said, it wasn't that it was a spike or a misfeed, and your orders couldn't get filled. It was actual movement, so most likely your trade won't be canceled, unless you robbed your MM to the bone.
No , my account is only up $ 500 total profit. But you are true because this guy made thousands trading news. http://www.forexfactory.com/showthread.php?t=95864 so I have his stories in my mind. I am withdrawing all my money from FXDD and I'll report back here.
  • #8
  • May 6, 2010 6:47pm May 6, 2010 6:47pm
Quoting Sim
ECNs don't match you up to other people buddy,, just to larger liquidity providers
who are other market makers, banks, which consist of other 'blokes' to become a 'liquidity provider'.

Honestly? I am sorry if it was confusing for you.

I don't think you should worry about $500 though.
  • #9
  • May 6, 2010 6:55pm May 6, 2010 6:55pm
Dear FXDD customer,

We will not delete your profits.

If you have any further questions please feel free to join us on our Live Chat available on the top of the website: www.fxdd.com.mt

Kind Regards,
  • #10
  • May 6, 2010 6:56pm May 6, 2010 6:56pm
Quoting Sim
100% possible, yes

Dear FXDD customer,

We will not delete your profits.

If you have any further questions please feel free to join us on our Live Chat available on the top of the website: www.fxdd.com.mt

Kind Regards,
  • #11
  • May 7, 2010 2:54am May 7, 2010 2:54am
poor guy thought you'd learn english on your own back, but I'll help you

100% possible = it's possible i.e. could swing both ways hahha
  • #12
  • May 7, 2010 2:57am May 7, 2010 2:57am
Quoting Tbb
who are other market makers, banks, which consist of other 'blokes' to become a 'liquidity provider'.

Honestly? I am sorry if it was confusing for you.
yep they are just larger market makers, retail traders can't get access to the real interbank, which only institutional players can

which is why when you hear of ECN and STP they are just fancy ways of saying they are redirecting you to a larger broker/bank/market maker lol... all funny days

and in fact when you look at it more deeper, all these ECNs seem to be are just IBs.. and get to divert accountability as they are not directly taking our trades..

but there are some exceptions, dukascopy I think have some unique exchange environment, and ECNs like fxopen become so impersonal, I believe, that you get tthe same sorta benefit
  • #13
  • May 7, 2010 3:24am May 7, 2010 3:24am
Quoting Sim
poor guy thought you'd learn english on your own back, but I'll help you

100% possible = it's possible i.e. could swing both ways hahha
I think he misunderstood, taking 100% possible as 100% likely which is completely different.

Now if you had said its 50% possible that 10% of brokers are 7% likely to cancel 32% of trades. That would have made more sense
  • #14
  • May 7, 2010 3:39am May 7, 2010 3:39am
Quoting ToxicChili
I think he misunderstood, taking 100% possible as 100% likely which is completely different.

Now if you had said its 50% possible that 10% of brokers are 7% likely to cancel 32% of trades. That would have made more sense

lmfao
  • #15
  • May 7, 2010 3:54am May 7, 2010 3:54am
Quoting Sim
poor guy thought you'd learn english on your own back, but I'll help you

100% possible = it's possible i.e. could swing both ways hahha
Thank you for the help Sim. In my turn I'll help you with your english and suggest that you should use something called "full stop".
  • #16
  • Last Post: May 7, 2010 3:59am May 7, 2010 3:59am
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