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FXCM Discussion

  • #1,621
  • Dec 7, 2010 8:44am Dec 7, 2010 8:44am
http://i55.tinypic.com/1z1zspg.png
  • #1,622
  • Dec 8, 2010 10:59am Dec 8, 2010 10:59am
FX Trading Station II Update: December 17, 2010

An FXTSII update is currently planned for December 17 (next Friday) after the trading close. FXCM traders should be receiving an email within the upcoming days regarding the new features, but I'll give everyone on the forum a first look at what new features are being released. This post contains trading updates to the FX Trading Station II. I will highlight upgrades to Marketscope tomorrow.


1. Pip Value and Margin Calculations in Order Window
The market order and entry order windows will display the pip value and margin requirement corresponding to the amount selected. This will let you know the amount of margin you will use when the trade is opened and how much each pip is worth based on the trade size selected. In the image below, I have selected a trade size of 125k EUR/USD. The per pip tells me the pip value for this trade size will be equal to $12.50 and the Used Margin will be $937.50.

http://img8.imageshack.us/img8/2271/...eandmargin.png



2. Usable Margin Column Color as % of Usable Margin
The Usable Margin column will change colors depending on how much margin you have remaining. This is meant to give you an idea of when you are in danger of receiving a margin call.

Green = Usable Margin > 30%
Orange = Usable Margin 10-30%
Red = Usable Margin < 10%

http://img525.imageshack.us/img525/5...2720102332.png



3. Time In Force
Fill or Kill (FOK) will be available for At Best orders, and IOC (Immediate or Cancel) and FOK will also available for Market Range orders. The time in force option can be selected by clicking on the Advanced button. These new options will help you better manage your order execution, and I will see about getting some examples written up.

http://img196.imageshack.us/img196/7633/tiffxtsii.png



4. Filter in Symbol Subscription List
The new filter field allows you to easily search for currency pairs in the symbol subscription list. For example, in the image below I have filtered the list by “aud”. This finds all of the currency pairs containing the Australian Dollar. This makes finding currency pairs much easier to add or remove rather than having to go through the entire list.

http://img574.imageshack.us/img574/8...symbollist.png



New Marketscope features will be highlighted tomorrow.
  • #1,623
  • Dec 8, 2010 12:52pm Dec 8, 2010 12:52pm
Jason, what's the justification of the 25.1 clause in you client agreement ( http://docs.fxcorporate.com/tob_ltd_en.pdf )?

http://dl.dropbox.com/u/190212/ff/fxcm_arbitrage.png

If you are a true no-dealing desk, why do you care if fast traders take advantages of slow prices displayed by your banks? The banks know how to take care of themselves.
  • #1,624
  • Dec 8, 2010 2:42pm Dec 8, 2010 2:42pm
Quoting Adal
Jason, what's the justification of the 25.1 clause in you client agreement ( http://docs.fxcorporate.com/tob_ltd_en.pdf )?

http://dl.dropbox.com/u/190212/ff/fxcm_arbitrage.png

If you are a true no-dealing desk, why do you care if fast traders take advantages of slow prices displayed by your banks? The banks know how to take care of themselves.
Hi Adal,

One situation that easily comes to mind is bad ticks where the price is obviously incorrect and can trigger both stops and limits incorrectly. This type of situation would call for the trades to be corrected.

I completely agree with you that the banks can take care of themselves, but if the situation arose through a technical error, it has to be resolved.

-Jason
  • #1,625
  • Dec 9, 2010 7:21am Dec 9, 2010 7:21am
As mentioned yesterday, there is An FXTSII update is currently planned for December 17 (next Friday) after the trading close. Below are a list of the improvements being made to the Marketscope charts.


1. Trend Lines by Angle
New line option has been added whereby you can create a trend line based upon a specific angle. See in the image below, the trend line is a 45 degree angle from the horizontal line. The angle degree information will appear as you’re drawing the line.

http://img822.imageshack.us/img822/9...endbyangle.png



2. Channels
Two channel options (equidistant and regression) will be added to the marketscope charts. This will help you more easily create parallel and identical lines to identify channels.

 

  1. Equidistant


http://img210.imageshack.us/img210/9...antchannel.png

  1. Regression


http://img403.imageshack.us/img403/4...ionchannel.png



3. Fast Open for Certain Time Interval
You can now choose the interval or date range displayed for the time period selected. For example, when you select a daily candlestick chart, you can also choose whether the chart loads 1 month, 3 months, 6 months, 1 year, or 3 years worth of daily candles. Below is an image showing where to find it:

http://img405.imageshack.us/img405/5...wdaterange.png



4. New Indicators

•Moving Averages:

SMMA(Smoothed Moving Average)
VIDYA(Chande’s Variable Index Dynamic Average)
WMA(Wilders Moving Average)

•Bill Williams:

AC(Acceleration/Deceleration)
Alligator
AO(Awesome Oscillator)
Gator Oscillator

•Volume Indicators:

AD(Accumulation/Distribution)
CHO(Chaikin Oscillator)
CMF(Chaikin Money Flow)
OBV(On Balance Volume)

•Oscillators:

CMO(Chande Momentum oscillator)

•Miscellaneous

The indicator “Show time to end” which displays the time remaining to the closing of the current candle.



5. New Strategies and Signals

•Divergence on MACD Signals
•Bill Williams Fractal-Alligator System
•Classic MACD sample
•Margin alert signal
  • #1,626
  • Dec 10, 2010 6:50am Dec 10, 2010 6:50am
Many great new features of improvement for FXTSII. Thanks for update Jason!

By the way, may you advice what should I do with following error during software installation as it conflicts with my existing DBFX platform?

What should I configure to allow both platform (DBFX and FXCM) running and trading simultaneously?

cheers
Attached Image
  • #1,627
  • Dec 10, 2010 7:21am Dec 10, 2010 7:21am
Jason, one of my favorite trading tools is Global Trading System (GTS) from FX Solutions. This trading tool offering 4 ways of accessing and trading a single account via GTS Pro, GTS Web, GTS Mobile and FX AccuCharts.

http://www.fxsol.co.uk/platforms/platforms.asp

For FXCM, may I confirm with you that for any Trading Station account holders, are they able to access and trade a (1) single account via following platform?

1. FXCM Trading Station II
2. FXCM Mobile TSII
3. FXCM Trading Station Gateway (TSG)

cheers
  • #1,628
  • Dec 10, 2010 9:14am Dec 10, 2010 9:14am
Quoting zam4ever

For FXCM, may I confirm with you that for any Trading Station account holders, are they able to access and trade a (1) single account via following platform?

1. FXCM Trading Station II
2. FXCM Mobile TSII
3. FXCM Trading Station Gateway (TSG)

cheers
Hi zam,

You can access the FXCM Trading Station II, Mobile TSII, Java platform (web based), and Strategy Trader all from the same login. Trading Station Gateway is still in beta release at the moment, but we do plan to make TSG logins cross compatible with the other platforms and vice versa. This information is listed on the website if you have not already taken a moment to visit it http://www.fxcm.co.uk/web-based-forex-platform.jsp.

-Jason
  • #1,629
  • Dec 10, 2010 11:10am Dec 10, 2010 11:10am
Quoting zam4ever
Many great new features of improvement for FXTSII. Thanks for update Jason!

By the way, may you advice what should I do with following error during software installation as it conflicts with my existing DBFX platform?

What should I configure to allow both platform (DBFX and FXCM) running and trading simultaneously?

cheers
Thanks for your feedback on the improvements!

Installing FXCM's Trading Station II platform is going to write over the dbFX platform unfortunately. It's not possible to have both platforms installed on the same computer. Installing one will write over the other existing software on your computer.

-Jason
  • #1,630
  • Dec 10, 2010 11:42am Dec 10, 2010 11:42am
dbfx, and fxcm are using same software?
  • #1,631
  • Dec 10, 2010 1:20pm Dec 10, 2010 1:20pm
One way around these installation software conflicts is to use one of the new breed of desktop software to virtualize your desktop. This will allow you to safely load both broker platforms. And if you have duel screens - even better.

Happy Holidays everyone and have a great weekend.
  • #1,632
  • Dec 10, 2010 4:08pm Dec 10, 2010 4:08pm
Quoting MoreYummy
dbfx, and fxcm are using same software?
It is the same bucket shop video game for sheeple under two brand names.
  • #1,633
  • Dec 11, 2010 2:38am Dec 11, 2010 2:38am
Quoting Jason Rogers
Installing FXCM's Trading Station II platform is going to write over the dbFX platform unfortunately. It's not possible to have both platforms installed on the same computer. Installing one will write over the other existing software on your computer.
So, by using default setting, I need to choose one broker only, either to have DBFX or FXCM trading station, am I right? Else, either to have second laptop or to follow below DarkPheonix suggestion.

Quoting DarkPheonix
One way around these installation software conflicts is to use one of the new breed of desktop software to virtualize your desktop. This will allow you to safely load both broker platforms. And if you have duel screens - even better.
May you elaborate more about this and I guess it will required high performance laptop?

Have a nice weekend and cheers
  • #1,634
  • Dec 13, 2010 5:53am Dec 13, 2010 5:53am
Jason,
I do not see a choice with FXCM to have standard lot sizes, it appears that only mini and micro are offered. It looks that what FXCM calls a "Standard" account is really a mini. I realize we can enter multiple positions, but it is cumbersome if you want to have larger PIP value. Can you let me know what is available?
  • #1,635
  • Dec 13, 2010 6:49am Dec 13, 2010 6:49am
Quoting Dcb
Jason,
I do not see a choice with FXCM to have standard lot sizes, it appears that only mini and micro are offered. It looks that what FXCM calls a "Standard" account is really a mini. I realize we can enter multiple positions, but it is cumbersome if you want to have larger PIP value. Can you let me know what is available?
Hi Dcb,

You can trade both mini lots and standard lots from the same account. There's no need to have a separate account for each. The amount field will display 10 through 100 in the menu. If you want to trade a larger amount, you can simply type in the larger amount. For example:

http://img190.imageshack.us/img190/9...1320109480.png


-Jason
  • #1,636
  • Dec 13, 2010 9:31am Dec 13, 2010 9:31am
Jason,
Thank you for your response. I see the selection of 10 - 100, but my understanding is the PIP value does not change, it is still equal to $1.00 per PIP. If I select 100 it is equal to $1.00 per PIP times 100. In essence it is the same as 10 standard lots ($10.00 per PIP times 10 lots). If I wanted to have twice that amount, I would place two identical orders of 100. Is that correct?
  • #1,637
  • Dec 13, 2010 10:58am Dec 13, 2010 10:58am
Quoting Dcb
Jason,
Thank you for your response. I see the selection of 10 - 100, but my understanding is the PIP value does not change, it is still equal to $1.00 per PIP. If I select 100 it is equal to $1.00 per PIP times 100. In essence it is the same as 10 standard lots ($10.00 per PIP times 10 lots). If I wanted to have twice that amount, I would place two identical orders of 100. Is that correct?
The pip value is directly proportional to the amount being traded. The pip value will change as you increase or decrease the trade size. For example with EUR/USD...

10k = $1
20k = $2
30k = $3
40k = $4
....
100k = $10
200k = $20
....
1000k = $100
2000k = $200
2510k = $251

and so forth...

So as you change the change the amount in the Amount(K) field it will change the pip value as well.

Buying two standard lots of 100k in EUR/USD will give you the same pip value as trading one standard lot of 200k in EUR/USD.

100K + 100K = 200k
$10 pip value + 10 pip value = $20 pip value

The pip values are proportional to the amount being traded. So if you want each pip to be worth $20, you can combine the amounts into one order of 200k rather than opening two separate orders of 100k.

From the previous screenshot I posted, trading an amount of 400K (4 standard lots) gives you a pip value of $40. Trading 4 separate lots of 100k would give you the same change in profit or loss for each pip the market moves, but then you would be opening 4 separate trades. It's faster to just open 1 ticket of 400k rather than opening 4 separate tickets of 100k.

The new version of the FX Trading Station II will display the pip value in the order window for the amount selected. See below, I included an image comparing the pip value (displayed as per pip) for 100k, 200k, and 400k amounts.

http://img709.imageshack.us/img709/7...rabletosiz.png


I hope that helps and please let me know if you have any other questions or if I misread any part of your post

-Jason
  • #1,638
  • Dec 13, 2010 11:28am Dec 13, 2010 11:28am
Jason,
Thank you for your patience with my questions. I understand what you are saying. Is 100 the largest amount in one order that is available? You mentioned 400K, can that be in order? How do you select 400? Thanks again for your patience.
  • #1,639
  • Dec 13, 2010 11:48am Dec 13, 2010 11:48am
Quoting Dcb
Jason,
Thank you for your patience with my questions. I understand what you are saying. Is 100 the largest amount in one order that is available? You mentioned 400K, can that be in order? How do you select 400? Thanks again for your patience.
No problem at all. I'm sure this information will be useful for others on the forum as well.

Yes, you can select an amount larger than 100k. When you open the order window, left click on the amount already listed. It will highlight in blue, and then type in the amount you want to trade using your keyboard.

http://img217.imageshack.us/img217/1046/leftclick.png

  • #1,640
  • Dec 13, 2010 12:01pm Dec 13, 2010 12:01pm
Jason,
I understand how to select different amounts than what is shown in the drop down window. Thank you for your help and patience with my questions.
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