Do GU spreads widen at 0500 ET? | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Why do spreads widen? 11 replies

spreads that widen to 98.3 pips 0 replies

IG weekend spreads: have I made a mistake? Spreads 20+! 4 replies

Variable Spreads and Average Spreads 0 replies

Do brokers that use fluctuating spreads widen them? 7 replies

Do GU spreads widen at 0500 ET?

  • #1
  • First Post: Sep 28, 2010 5:10pm Sep 28, 2010 5:10pm
Today, sept 28, I had a trade on with a 35 pips sl on the GU. It was a short.

Price was pretty much sidways price going about 20 pips against me max.

At about 5 eastern I was stopped out and didn't see it on the chart.

My broker, IBFX claims its not unusual for the spread to go up to 28 pips or so at this time because of low liquidity???

I've had trade on at this time and never seen it happen.

Anyone know if spread widening at this time on GU, is a, "usual," thing? Or is it more likely my broker is fing with me now?
  • #2
  • Sep 28, 2010 5:21pm Sep 28, 2010 5:21pm
Quoting KumoDragon
Today, sept 28, I had a trade on with a 35 pips sl on the GU. It was a short.

Price was pretty much sidways price going about 20 pips against me max.

At about 5 eastern I was stopped out and didn't see it on the chart.

My broker, IBFX claims its not unusual for the spread to go up to 28 pips or so at this time because of low liquidity???

I've had trade on at this time and never seen it happen.

Anyone know if spread widening at this time on GU, is a, "usual," thing? Or is it more likely my broker is fing with me now?
Are you sure they didn't say 2.8 pips rather than 28 pips. It may be normal for the spread to widen at that time but NOT by that much (spread presently bouncing from 3.1 to 4.5)
  • #3
  • Sep 28, 2010 5:25pm Sep 28, 2010 5:25pm
Quoting TradeRunner
Are you sure they didn't say 2.8 pips rather than 28 pips. It may be normal for the spread to widen at that time but NOT by that much (spread presently bouncing from 3.1 to 4.5)
Nope 28 pips....or more they said, I had a stop at 1.58219 with entry at 1.57869.

The highest wick after entry was 14 pips away, without the spread.
  • #4
  • Sep 28, 2010 5:25pm Sep 28, 2010 5:25pm
If they're an ECN broker it's not unthinkable. You can challenge it if you want to - just ask for a record of the Bid-Ask a few second before and after you were stopped out.

Rob
  • #5
  • Sep 28, 2010 5:26pm Sep 28, 2010 5:26pm
Hi Dragon,

I take it you mean 5pm eastern? End of US session and start of Asian session.

5 point spread on Cable is not unusual throughout the trading day.

28 points, however is crazy, I would only be expecting that kind of spread for a major announcement or the very start of the trading week...

Norm
  • #6
  • Sep 28, 2010 5:30pm Sep 28, 2010 5:30pm
Quoting Rob Mondave
If they're an ECN broker it's not unthinkable. You can challenge it if you want to - just ask for a record of the Bid-Ask a few second before and after you were stopped out.

Rob
I have NEVER seen the spread widen that much unless it's a holiday etc.,
However i guess it all depends on your definition of a pip. 2.8 to me might be 28 to you. I still use 4 digit pricing even on a 5 digit broker. That's just me.
  • #7
  • Sep 28, 2010 5:40pm Sep 28, 2010 5:40pm
Quoting TradeRunner
I have NEVER seen the spread widen that much unless it's a holiday etc.,
However i guess it all depends on your definition of a pip. 2.8 to me might be 28 to you. I still use 4 digit pricing even on a 5 digit broker. That's just me.
My definition of a pip is pip, the xtra didgits are pippetts.
  • #8
  • Sep 28, 2010 5:51pm Sep 28, 2010 5:51pm
Heres the last chat I had with support. My first one wasn't so polite. Full of bullshit or not full of bullshit? Give me your opinion and why you think so, because I'm seriously thinking of finding an ECN to trade with instead if this is broker hi jinks.

info: Thank you for contacting us. The next available agent will be right with you.
info: You are now chatting with 'Client Services 10'
Client Services 10: Hello, this is Mo. How may I help you?
60022: Is it a usual thing for The GU's spred to widen 20-30 pips at about 5 eastern?
Client Services 10: It does happen frequently at that time due to low liquidity in the market.
60022: were you the person I talked to earlier?
Client Services 10: Usually the east coast banks pull out of the market to do their end of day books at that time.
Client Services 10: I'm not sure, it is possible.
60022: the reason I ask is because I was stoppped out of a trade when the spreads widened, and it would have been a profitable trade had that not happened.
60022: I had a 35 pips stop loss and the highest which after entry was 14 pips away from SL without the spread
Client Services 10: I think I did speak to you earlier
60022: I've never seen this happend before, even during important news
60022: I'm on some forums right now postin about this, the consensus is that a 28 pips spread jump is broker hi jinks
60022: you still there
Client Services 10: I'm here
60022: I want a record of the bid and ask a few seconds before I was stopped out
Client Services 10: Unfortunately I don't really have a comment to add on that. We don't control our pricing so we can't prevent things like that from happening.
60022: did you see my above request?
60022: I want to challenge the stop out.
Client Services 10: I can do a trade ticket for the trade if you like.
Client Services 10: I'll need to verify your information though
60022: Yes do that please
Client Services 10: Can I get your name, physical address, and the last four of your social please?
60022: ******************************************
Client Services 10: Thank you.
Client Services 10: What ticket number is it you want us to look at?
60022: I'm going to be checking prices on other feeds and with other traders I know personally. If this looks like trader hi jinks I'm done trading with you
60022: one sec
Client Services 10: ok
60022: 44049898
60022: how long until I can expect any response on the matter?
Client Services 10: Probably a couple hours. I will be the one doing the full research on it when I get the data from our operations people.
Client Services 10: If we do in fact find an error in the execution of this trade, how would you like us to handle the trade?
60022: refund the loss
60022: what will I get an email report or something?
Client Services 10: You'll get an e-mail with the answers to the question
60022: ok now explain to me why spreads would widen by 20-30 pips at 5 eastern, but during major economic news spreads dont ever come close to that?
Client Services 10: That would happen because the major liquidity providers are still in the market during news announcements.
Client Services 10: I need to correct what I said earlier as well... I won't be the one reviewing the ticket so you may not get a response on this until later on tonight or tomorrow.
60022: ok
60022: Just so you know I'm going to take this chat session and post it on about 10 different forums for discussion. So, if IBFX is full of bullshit and is screwing with trades the proof is going to out there for all traders to see.
  • #9
  • Sep 28, 2010 6:01pm Sep 28, 2010 6:01pm
Brokers who use 5 digits call the last digit a pip. I call it 1/10 of a pip. So if IBFX says 30 pips that is 3 pips to me. The spread is presently 4.3 pips to me which probably means that IBFX wil call it 43 pips.

That has been my experience at least. I have never seen the spread widen to 28 pips during "normal" times (unless you add another digit).
  • #10
  • Sep 28, 2010 9:20pm Sep 28, 2010 9:20pm
Quoting TradeRunner
Brokers who use 5 digits call the last digit a pip. I call it 1/10 of a pip. So if IBFX says 30 pips that is 3 pips to me. The spread is presently 4.3 pips to me which probably means that IBFX wil call it 43 pips.

That has been my experience at least. I have never seen the spread widen to 28 pips during "normal" times (unless you add another digit).
You are incorrect, they (ibfx) call the last digit a pippette (1/10 of a pip). The spread that stopped me out was 20 or more full pips.

If I trade at a $1.00 a pip lot size, and the trade goes my way they show the increments inbetween a full dollar by the tenths with pippettes.

Besides I'd know right away when I entered if I borked the entry numbers and entered a sl that was in pippettes instead of pips. Plus, I'd probably be stopped out a hair after entry or not even allowed to enter the trade if I entered a trade that was 35 pippettes considering the spread is a at least a full 4 pips.
  • #11
  • Sep 28, 2010 9:57pm Sep 28, 2010 9:57pm
Quoting KumoDragon
You are incorrect, they (ibfx) call the last digit a pippette (1/10 of a pip). The spread that stopped me out was 20 or more full pips.

If I trade at a $1.00 a pip lot size, and the trade goes my way they show the increments inbetween a full dollar by the tenths with pippettes.

Besides I'd know right away when I entered if I borked the entry numbers and entered a sl that was in pippettes instead of pips. Plus, I'd probably be stopped out a hair after entry or not even allowed to enter the trade if I entered a trade that was 35 pippettes considering...
Gee.... you're right. I don't know my pip from my pippette... I'll have to remember that pipette thing. But if you would have known right away that you were stopped out by a "pippette" rather than a pip... why'd ya' ask in the first place????
  • #12
  • Last Post: Sep 29, 2010 9:14am Sep 29, 2010 9:14am
Quoting TradeRunner
Gee.... you're right. I don't know my pip from my pippette... I'll have to remember that pipette thing. But if you would have known right away that you were stopped out by a "pippette" rather than a pip... why'd ya' ask in the first place????
What? You are the one bringing up pippettes, please refrain from posting in this thread any longer I'm trying to get honest opinions on the original subject. Not discuss what pips and pippettes.

To clarify I was stopped out when the spread widened by 20 PIPS! or more.
0 traders viewing now