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  • #1,801
  • Mar 16, 2011 6:53pm Mar 16, 2011 6:53pm
Quoting waltini1
I have been checking the carnage otherwise known as my computer.

The high of the 23.15 bar 1.39196 but my trade closed at 23.15 at 1.40157.

That's a 961 pip spread. Can anyone beat that?
Whilst it is still high, it is worth pointing out that it is 96.1 pips, not 961.

As I mentioned before all brokers were seeing huge spreads coming through from the providers. Unfortunately when the market goes as crazy as it did this morning the banks and institutions feeding prices dont even know what to do because they have no idea which way their book should be going and where to hedge trades. Liquidity would have been very low because of it which obviously exacerbates any such movements.

The reality of it is that for a period of around 15 minutes price activity was so far removed from the norm and it will hopefully be a while before we see such trading 'patterns' again.
  • #1,802
  • Mar 16, 2011 7:06pm Mar 16, 2011 7:06pm
Quoting GoMarkets
Whilst it is still high, it is worth pointing out that it is 96.1 pips, not 961.

As I mentioned before all brokers were seeing huge spreads coming through from the providers. Unfortunately when the market goes as crazy as it did this morning the banks and institutions feeding prices dont even know what to do because they have no idea which way their book should be going and where to hedge trades. Liquidity would have been very low because of it which obviously exacerbates any such movements.

The reality of it is that for a period of around 15...
Hi Chris,

I appreciate the markets might go crazy but at 23.15 on the eur/usd there didn't look like much activity.

In fact at 23.15 the one minute bar shows a range of 9.6 pips.

So you are telling me that the one minute bar at 23.15 has a range of 9.6 pips and a spread of 96.1 pips ?

After four years of checking out systems and brokers if someone had told me that within one week of opening an account at Go Markets I would lose half my account on a one minute bar with a range of 9.6 pips and a spread of 96.1 pips...

I hope Go Markets is better than this.
  • #1,803
  • Mar 16, 2011 7:17pm Mar 16, 2011 7:17pm
Quoting waltini1
Hi Chris,

I appreciate the markets might go crazy but at 23.15 on the eur/usd there didn't look like much activity....
From around 23.10 onwards the volatility begun and although that bar does not appear to show much movement it only represents one side of the market and does not take into consideration the Ask.

As everyone who follows this thread will know we are the first to admit any problems with incorrect prices and always fix any trades accordingly. However, there is not anything we can do when the market goes like this. It is unfortunate that such extreme volatility occured in your first week of live trading and hopefully you and everyone else will not experience these kind of market conditions on a regular basis.

Thanks,
Chris
  • #1,804
  • Mar 16, 2011 10:15pm Mar 16, 2011 10:15pm
Quoting Mpt
Hello Chris.

I am not about to complain, even though I lost my entire and substantial account this morning.

However, I still note that on the broker spread site your referenced, GOmarkets was right up near the top for spread size on GBPJPY. Why should that be the case?

Mike
Hi Mike,

I couldnt really give you a reason as to why our spread on that pair (or any other) shows as being higher or lower than any other broker, primarily because I do not know where most brokers get their feeds from. Every feed will be different and will have resulted in different price activity and spreads and of course during the period of low liquidity these kind of things are exacerbated. There are a number of smoothing tools that can be used by brokers and feed providers which can also impact the pricing suring highly volatile times, but we do not smooth our feed.

Although spread compariosn sites give an idea of spreads and prices, which is why I mentioned it, they do not take every tick of data, meaning that the spreads and average spreads will not always be exactly correct.

Thanks,
Chris
  • #1,805
  • Mar 17, 2011 12:42am Mar 17, 2011 12:42am
Quoting Mpt
Hello Chris.

I am not about to complain, even though I lost my entire and substantial account this morning.

However, I still note that on the broker spread site your referenced, GOmarkets was right up near the top for average spread size on GBPJPY, being 37.1 pips. Why should that be the case?

Mike
May I refer you to this thread, excellent information

http://www.forexfactory.com/showthread.php?t=7484
Canadian by birth Australian by choice
  • #1,806
  • Mar 17, 2011 1:06am Mar 17, 2011 1:06am
Thankyou for last reply. Of these matters, I am aware. My original question was politely pointing out that certain broker spreads were out of wack with others.
  • #1,807
  • Mar 17, 2011 1:22am Mar 17, 2011 1:22am
Quoting Mpt
Thank you for last reply. Of these matters, I am aware. My original question was politely pointing out that certain broker spreads were out of wack with others.
#1 - If indeed you are aware of these matters, then surely you have found your answer; unless you are requiring a guarantee from GO Markets?

Quote from previously linked thread

"A more interesting question is, what would happen if all the listed orders where suddenly canceled? The spread would widen to a point at which there were existing bids and offers. That may be 5,7,9, or even 100 pips; it is going to widen to whatever the difference between a bid and an offer are. Notice that nobody came in and “set” the spread, they just refused to transact at anything between it.

Nothing can be done to force orders into existence that don’t exist. Regardless what market is being examined or what broker is facilitating transactions, it is impossible to avoid spreads and slippage. They are a fact of life in the realm of trading."

#2 - Re: certain brokers - My mother told me over 40 years ago, IF you think you can find it better somewhere else, you better move out.

So, can you show us normal spreads being upheld by other brokers during that period of volatility? Guess that is what demos accounts are for........
Canadian by birth Australian by choice
  • #1,808
  • Mar 17, 2011 2:35am Mar 17, 2011 2:35am
Quoting TheSnowman
May I refer you to this thread, excellent information

http://www.forexfactory.com/showthread.php?t=7484

Good info. Many of us on the forum know these details but unfortunately there is always the odd 'trader' that things the banks will always quote a 1-pip spread regardless of what is going on!

Given all the crap going on in Japan, I'm hardly surprised about this morning's moves. Guess I should count myself lucky that I hit my stop whilst I was tucked up in bed last night!
  • #1,809
  • Mar 17, 2011 3:11am Mar 17, 2011 3:11am
Here's a log file if you want of EURUSDm (mini account) during the volatile time, i lost connection a few times so it is missing a few ticks here and there.
Attached File(s)
File Type: csv Go Tick Log.csv   58 KB | 293 downloads
  • #1,810
  • Mar 17, 2011 3:24am Mar 17, 2011 3:24am
Just wondering if anyone had any slippage on SL/TP/pending orders?

This is something i find Go Markets to be very reliable with, i haven't been with them long, but over the 250 trades i have place with them i have had not a single pip slippage on pending orders. I didn't have any exposure at 23:15, but was wondering what other peoples' SL/pending order fills were like during the volatility?
  • #1,811
  • Mar 17, 2011 4:11am Mar 17, 2011 4:11am
Quoting GoMarkets
Hi,

Sorry I seemed to accidentally overlooked your post.
I will follow this up with senior management and revert back to you as soon as I have an answer.

Cheers
Hi Chris

This question is still outstanding. Any update?

Regards

Peter
  • #1,812
  • Mar 17, 2011 7:51pm Mar 17, 2011 7:51pm
Quoting Pip-postrous
Hello Chris I`m just checking in 2 see if you asked management about dropping the cut off rate from 50% to say 30% as some brokers have. Question 2 is what is company policy regarding when leverage changes. For example I know leverage drops from 400 /1 to 300/1 at account balance of 25 thou or more, my question is will the client be e mailed or does it happen the second the account balance goes over 25 thou. Also is your company able to keep 400/1 longer for clients if they request it. tanks again in advance for your answer
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!...
Sorry for the delay in getting a response to you. At this stage it has been decided that 50% is a suitable level for the margin call. The higher it is the less change there is of an account going into negative in the case of a gap over a weekend or, to use a more recent example, a situation such as yesterday. Unfortunately a few clients will have gone into a negative balance in times of a gap or huge movement, but the higher the margin call percentage, the less change of this happening. If it was lowered to 30%, whilst it may not always result in the account having positions closed, but it would increase the likelihood of accounts falling into negative.

With reagrds to the changes in leverage, they are not an automatic thing, if your account went over a threshold, then you would be called and/or emailed about it and we would only make a change in conjunction with you. We also wouldnt just do it if it could have disastrous results for an account and would of course always give assistance to enable someone to get their account in a position where they are comfortable with the new leverage.
  • #1,813
  • Mar 17, 2011 7:52pm Mar 17, 2011 7:52pm
Hi Guys,

You may all be interested to know that we have just started a further look into Moneybookers as a funding method. We will do some advanced testing ont he receoncilliations etc to ensure it meets the strict AML requirements and if it passes all our tests, we will offer it as a funding method for clients.

Thanks,
Chris
  • #1,814
  • Mar 17, 2011 11:48pm Mar 17, 2011 11:48pm
Quoting rooicol
Just wondering if anyone had any slippage on SL/TP/pending orders?

This is something i find Go Markets to be very reliable with, i haven't been with them long, but over the 250 trades i have place with them i have had not a single pip slippage on pending orders. I didn't have any exposure at 23:15, but was wondering what other peoples' SL/pending order fills were like during the volatility?
Very interested to know how stops were executed. Anybody slipped bigtime? Thanks
  • #1,815
  • Mar 18, 2011 1:15am Mar 18, 2011 1:15am
Quoting GoMarkets
With reagrds to the changes in leverage, they are not an automatic thing, if your account went over a threshold, then you would be called and/or emailed about it and we would only make a change in conjunction with you. We also wouldnt just do it if it could have disastrous results for an account and would of course always give assistance to enable someone to get their account in a position where they are comfortable with the new leverage.
Perfect, than you.
  • #1,816
  • Mar 18, 2011 1:48am Mar 18, 2011 1:48am
Quoting GoMarkets
Hi Guys,

You may all be interested to know that we have just started a further look into Moneybookers as a funding method. We will do some advanced testing ont he receoncilliations etc to ensure it meets the strict AML requirements and if it passes all our tests, we will offer it as a funding method for clients.

Thanks,
Chris
There customer service is less than stellar. At least from my experiences. They seem to have a big issue with credit cards and the initial approval process.

They have taken 3, 4, 8 days to reply to support tickets. I've heard of other people taking longer.

But nevertheless, at least its an option.
Measure trends automatically with zero lag
  • #1,817
  • Edited 6:39pm Mar 18, 2011 6:16pm | Edited 6:39pm
Hi Chris, can you please explain.
1. Your spread went up to 99.2p
2. You brought the price down 50pips
3. You closed 1 hour early. 23:02:05
4. You have now changed your server time to 23:52:42
Number 1, 2, 3, happened within 1 second before closing 1 hour early.
Would I be right in saying you have lost control of your system?
Peter
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  • #1,818
  • Mar 18, 2011 6:43pm Mar 18, 2011 6:43pm
Quoting Peter-FX

3. You closed 1 hour early. 23:02:05


Is that another example of the stupidity of the people on this forum?

The clocks in the US changed last week, so the market closes an hour earlier.

Seriously, think about it. You are making yourself look stupid.
  • #1,819
  • Mar 19, 2011 3:34am Mar 19, 2011 3:34am
all your base are belong to us
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Canadian by birth Australian by choice
  • #1,820
  • Mar 19, 2011 4:42am Mar 19, 2011 4:42am
Hello fellow traders/Go Markets. This is just a quick question in regards to Go Markets and scalping.

Does anyone know if Go Markets is able to provide 5sec or 30sec charts? I know most brokers cannot do this except through Ninja Trader for example: with MBT you can use Ninja trader for charting and place trades on MBT.

But unfortunately Go Markets feed isn't available with Ninja trader which is a pity because Go Markets is great broker from my own experience. I would love to be able to somehow use 5sec or 30sec charts with Go Markets. Does anyone know if this can be done?

Thanks in advance!
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