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Technical Analysis Fallacy

  • #22,561
  • Jan 27, 2011 6:57am Jan 27, 2011 6:57am
Quoting triger88990
Today was no business left for me, my broker platform freeze for about 3 hours and was foreced to give them instruction via cell phone to liquidate my positions, I'm not in any mood for trading after this experience so I'll stay aside for the rest of the day.

does anyone else had problems with fxpro live account?

all the best!!
don't just say my broker, give name , for benefit of others.
if i run ff, i'll probably start hall of shame of em brokers.
thats how you get preserve really good ones.

did you know that if you lost money due to their neglegence you can ask them "make you good" or you can take them to their regulators for arbitration?
  • #22,562
  • Jan 27, 2011 7:08am Jan 27, 2011 7:08am
Quoting triger88990
Today was no business left for me, my broker platform freeze for about 3 hours and was foreced to give them instruction via cell phone to liquidate my positions, I'm not in any mood for trading after this experience so I'll stay aside for the rest of the day.

does anyone else had problems with fxpro live account?

all the best!!
Hey triger,

sorry to hear that. I use them for mt4 and this "freezing" happens quite often.

To me now, this is usually an indication of something major happening. Usually during freeze there is a sustained move.

Shameful to hear this happening to their live clients as well.

Attached Image (click to enlarge)
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  • #22,563
  • Jan 27, 2011 7:12am Jan 27, 2011 7:12am
Quoting triger88990
Today was no business left for me, my broker platform freeze for about 3 hours and was foreced to give them instruction via cell phone to liquidate my positions, I'm not in any mood for trading after this experience so I'll stay aside for the rest of the day.

does anyone else had problems with fxpro live account?

all the best!!
wow, citi fx pro?
that tier name.
ask for written explanation of the incident.
they probably "make you good"
  • #22,564
  • Edited 7:19am Jan 27, 2011 7:16am | Edited 7:19am
Yep... FxPro disconnected me for an hour and 35 minutes today.. I spoke with them ten minutes into it and they said it's a "technical error". I've been with them since their inception. Before that I was with Northfinance who they acquired. This is the second time it's happened to me, sad really. I never thought about changing brokers before today. An hour and a half during London is a big deal, even if you're not scalping.

One positive note I can attest to.... they won't eat your stop for the fun of it... enough times price has come within half a pip and they've left the stops intact.
  • #22,565
  • Jan 27, 2011 7:17am Jan 27, 2011 7:17am
Quoting fti
wow, citi fx pro?
that tier name.
ask for written explanation of the incident.
they probably "make you good"
it's abou FxPro as you noticed

I already speak with them on the phone, and they sent me an email that there were some technical problems, never had this issue before.

strange things had happening, one of my orders was close automaticaly, before the platform freezing problem.

need to redirect my money to someone else

all the best!!
  • #22,566
  • Jan 27, 2011 7:18am Jan 27, 2011 7:18am
Quoting SerpentDove
Yep... FxPro disconnected me for an hour and 35 minutes today.. I spoke with them ten minutes into it and they said it's a "technical error". I've been with them since their inception. Before that I was with Northfinance who they acquired. This is the second time it's happened to me, sad really. I never thought about changing brokers before today. An hour and a half during London is a big deal, even if you're not scalping.
seems they had "tech problem" then.
expensive error for them.
claim for good and they''ll be on their toes or lose corp image.
  • #22,567
  • Jan 27, 2011 7:20am Jan 27, 2011 7:20am
Quoting Vourvoul
Hey triger,

sorry to hear that. I use them for mt4 and this "freezing" happens quite often.

To me now, this is usually an indication of something major happening. Usually during freeze there is a sustained move.

Shameful to hear this happening to their live clients as well.

Attachment
I was connected to fxpro real.2 server, but the technical problems were more weird to me. I wasn't allowed to connect anymore to my account they keep giving me "invalid account" message. And when I tried to restart my platform all the tabs where all over the place after I re-opened it and my charts weren't anymore in their usual position, now after 3 hours they solved this but my chart are still missing some data, price is gaping on all of major pairs.

This situation is making me worried.

all the best!
  • #22,568
  • Jan 27, 2011 7:21am Jan 27, 2011 7:21am
Quoting triger88990
it's abou FxPro as you noticed

I already speak with them on the phone, and they sent me an email that there were some technical problems, never had this issue before.

strange things had happening, one of my orders was close automaticaly, before the platform freezing problem.

need to redirect my money to someone else

all the best!!
i heard citi and DB both on saxo white label or something like that
had bad experience with saxo.
Ask them about your loss, nicely.
see if they find reasons "make you good"
  • #22,569
  • Jan 27, 2011 7:25am Jan 27, 2011 7:25am
Quoting fti
cable trading in vacuum, according to a little bird.
I guess that would explain why I seem to be seeing random up and down movements today - would that be MMs looking for buyers/sellers at either end of the movements?
  • #22,570
  • Jan 27, 2011 7:26am Jan 27, 2011 7:26am
Quoting fti
i heard citi and DB both on saxo white label or something like that
had bad experience with saxo.
never had any experience with them, but is good to know what to avoid and who are trustworthy.

all the best!
  • #22,571
  • Jan 27, 2011 7:27am Jan 27, 2011 7:27am
Sorry if this has already been covered but did everyone else read this?

"LONDON (Dow Jones)--Moves in the yen's exchange rate in the immediate runup to the Standard & Poor's downgrade of Japan's sovereign debt rating raised eyebrows in global currency markets Thursday.

Beyond curious price movements, there has been no indication that the downgrade had leaked out prior to publication.

A Standard & Poor's spokesperson in London declined to comment directly on this talk, saying only that the downgrade announcement was released through the normal channels.

When the official announcement was made, the shock went through currency markets. The yen fell hard and the dollar spiked. Other currencies perceived as risky, such as the euro and the Australian dollar, also tumbled in a broad rush to safety by nervous investors. The Swiss franc, deemed a safe haven currency, also rose.

But some of those short-term currency moves seem to have started very slightly before Standard & Poor's released its press release on the downgrade. That's enough to send notoriously gossipy currencies traders on the hunt for a leak.

A sudden reversal in yen trading trends Thursday provided an early indication.

In a note to clients Thursday, Citigroup said the dollar was attracting heavy selling against the yen in Tokyo trading hours, taking it down to the Y82 area against the Japanese currency.

But the dollar "quickly looked bid", or in demand, at that point, the bank said, "almost as if someone knew what was about to happen."

Data from trading system EBS show that the dollar started climbing, albeit by a very small degree, at 0745 GMT. S&P says its news was released in a press release form at 0753 GMT. At that point, the dollar's climb, and therefore the yen's fall, sped up markedly.

Similarly, the euro started edging lower against the dollar at 0748 GMT, in a move that accelerated soon afterwards."
  • #22,572
  • Jan 27, 2011 7:33am Jan 27, 2011 7:33am
Quoting fti
seems they had "tech problem" then.
expensive error for them.
claim for good and they''ll be on their toes or lose corp image.

I would have already but there was nothing to claim. Last time it happened I spoke with techsupport, again after about 10 minutes of disruption and they assured me my tp's were hit so I had nothing to complain about.
I wasn't looking to make any new trades today.. on a daily and waiting to see the close.

By the way, I'm very happy to see you back. Strength and happiness to you.
  • #22,573
  • Jan 27, 2011 7:33am Jan 27, 2011 7:33am
Quoting ukmanthailan
Sorry if this has already been covered but did everyone else read this?

"LONDON (Dow Jones)--Moves in the yen's exchange rate in the immediate runup to the Standard & Poor's downgrade of Japan's sovereign debt rating raised eyebrows in global currency markets Thursday....
employment should improve.
Much work for internal and external audit.
witch hunt, anyone?
Insider trading is major offence in many places.

regards
  • #22,574
  • Jan 27, 2011 8:27am Jan 27, 2011 8:27am
Cannot make much sense of the 3K today, lots of uncertainty.

JPY seems most out of sync?

I'm going to sit on my hands until the situation clarifies.
  • #22,575
  • Jan 27, 2011 8:37am Jan 27, 2011 8:37am
Quoting Vorbis
JPY seems most out of sync?
JPY is like that due to ECB officials making very hawkish noises earlier
  • #22,576
  • Jan 27, 2011 8:52am Jan 27, 2011 8:52am
Quoting Fana
My todays London... just btw, for fun...
Well done Fana. Glad someone had some success today.

With the wild swings and computer freezing (I think it was my computer as there was no news of problems on the Oanda thread) I took a break and will start trading again tomorrow. Ray
  • #22,577
  • Jan 27, 2011 8:57am Jan 27, 2011 8:57am
Quoting 1234
Well done Fana. Glad someone had some success today.

With the wild swings and computer freezing (I think it was my computer as there was no news of problems on the Oanda thread) I took a break and will start trading again tomorrow. Ray
Thank you Ray! Yeah, slowly going ahead. development in FX is something, what one cant speed up. As i many times experience.
  • #22,578
  • Jan 27, 2011 9:35am Jan 27, 2011 9:35am
Quoting fti
i heard citi and DB both on saxo white label or something like that
had bad experience with saxo.
Ask them about your loss, nicely.
see if they find reasons "make you good"

Hi fti and all,

sad to hear about that broker problem.
I had also made good experience, when asking a broker for some kind of "making good".
Most of the time they do so :-)

But I'm not sure if you are talking about the same broker:
There is fxPro, located on cyprus, but they have nothing to do with citi.
Their borker unit is called "citiFX Pro"

And as far as I know Deutshce Bank (dbFx) is using the software platform, that is used and developed by FXCM. Do not know about any connect to Saxo ....

Cu,
Niels
  • #22,579
  • Jan 27, 2011 9:46am Jan 27, 2011 9:46am
Hi again,

just want to share some experience, that I have made while I'm trading the VG challenge.

The first time in my very short fx trading endeavour I felt what fti and others are meaning with "under capitalisation". Yeah it is possible to trade a 5.000 USD account with 0.1 lotsize scout. And yeah you can do it successfully.

But it is really very very much easier to trade 0.1 lotsize scout on a 250.000USD account. All actions (rescues and attacks) can be done much easier, because mindset is not affected that much by fear.
You are able to trade inside very restrictive risc parameter then, and can still make good money per day ...
Hope I'll be able to bring my account into chat levels of capitalisation soon...

All the best,
Niels.
  • #22,580
  • Jan 27, 2011 10:00am Jan 27, 2011 10:00am
Quoting MaMood
Hi again,

just want to share some experience, that I have made while I'm trading the VG challenge.

The first time in my very short fx trading endeavour I felt what fti and others are meaning with "under capitalisation". Yeah it is possible to trade a 5.000 USD account with 0.1 lotsize scout. And yeah you can do it successfully.

But it is really very very much easier to trade 0.1 lotsize scout on a 250.000USD account. All actions (rescues and attacks) can be done much easier, because mindset is not affected that much by fear.
You are able...
think the same here, when you reach a bigger account balance your comfort zone and your state of mind would change drastically trading with a small account the whole thought process would have been different.

wish you to achieve whatever your goals are

and good luck in the trading competition

all the best!
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