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GoMarkets Discussion

Hello Joel, let's hope GoMarkets is crawling back fast to be one of Australia's best broker again.

I have a question about the Bid and Ask price of XAGUSD And XAUUDS.Why don't they match the order window quotes as it does with the currencies
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Pipo, I thought I'd step in before one of our long term traders on he did, our mark up on Gold and silver is not reflected on the chart only on the market watch and order box. It has been the same way since we launched the MT4 platform. Its an unfortunately cannot be changed due to the way the price of the two metal comes in our platform.

Cheers
Joel,

I just got hit by a sudden 30+ pip spread on USDSGD that occured at 1226hrs (GO server time) which caused slippage on my SL. (SL at 1.29536, price closed at 1.29497

The spread has reverted to 5-7 pips now. Is this normal?

My feed from another broker (Oanda) shows the low for that period to be 1.29560 .
Quoting GoMarkets
Pipo, I thought I'd step in before one of our long term traders on he did, our mark up on Gold and silver is not reflected on the chart only on the market watch and order box. It has been the same way since we launched the MT4 platform. Its an unfortunately cannot be changed due to the way the price of the two metal comes in our platform.

Cheers
Joel,

you'll need to give us a better explanation, please.

Your spread on gold is 50 points. Is this what you call mark-up?

The ask and bid line on the chart are 40 points apart!

The bid on the chart is 5 points higher than the bid on the order box, while the ask on the chart is 5 points lower than the ask on the order box.

Confusion reigns!

It seems however that you collect an extra 5 points on each trade if we trade off the chart and who doesn't?

Time to lower the spread on gold to compensate for this.
forget it. rooicol said it best.
Congratulations ScalaFX for coming out of the closet!
Quoting ikdenk
...
It seems however that you collect an extra 5 points on each trade if we trade off the chart and who doesn't?...
No, you pay the same spread regardless of what method you use to open exposure; script/ea/manual market order... you will get the same fill regardless of where you click to open the new order window. It simply displays one price on the chart, and fills you with another price shown in the order window.
Quoting rooicol
No, you pay the same spread regardless of what method you use to open exposure; script/ea/manual market order... you will get the same fill regardless of where you click to open the new order window. It simply displays one price on the chart, and fills you with another price shown in the order window.
Sure enough, but what I am pointing out is that Go's price ON THE CHART is misleading, because it if off by 5 points for both Buy and Sell.

BTW, thanks for your excellent tick chart indicator. I finally managed to adapt it for gold charts and it is very useful indeed!
Quoting ikdenk
Sure enough, but what I am pointing out is that Go's price ON THE CHART is misleading, because it if off by 5 points for both Buy and Sell.

BTW, thanks for your excellent tick chart indicator. I finally managed to adapt it for gold charts and it is very useful indeed!
so use a different platform that isn't an old POS like mt4 riddled with bugs and with manipulation plugin ability. there, be happy.
Congratulations ScalaFX for coming out of the closet!
Is it just me, or does it seem like people on here are giving Go Markets a hammering over issues that are completely trivial and/or not even related to Go Markets?

I can understand the frustration with the high spreads that people were experiencing, but beyond that.. seriously.. All I'm reading is 'OMG, I live at the North Pole and my trades are so slow to execute on the Australian servers!!1 Lag!!1'
Already 11:00 Australian EST, I have no feed on GO Markets?

Opened a new demo with AXI Trader, seems to be price action there, what's up, anyone?

OK, checked the messages, got it!
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If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -1.0%
Quoting Erebus
Already 11:00 Australian EST, I have no feed on GO Markets?

Opened a new demo with AXI Trader, seems to be price action there, what's up, anyone?

OK, checked the messages, got it!
are the banks in sydney even open yet?

ffs!!! it's the first trading hours of the very first trading day of the year 2012.... do you really feel like you are missing out? what exactly is happening in the markets that you absolutely must be trading right now? some people are probably still in the process of celebrating new years, yet here you sit bitching that you can't trade what is surely a poor market? go outside and do something instead of sitting here bitching about the damn price feed.

surely you are trolling and can not honestly be serious about this shit!
Congratulations ScalaFX for coming out of the closet!
Quoting nubcake
are the banks in sydney even open yet?

Ffs!!! It's the first trading hours of the very first trading day of the year 2012.... Do you really feel like you are missing out? What exactly is happening in the markets that you absolutely must be trading right now? Some people are probably still in the process of celebrating new years, yet here you sit bitching that you can't trade what is surely a poor market? Go outside and do something instead of sitting here bitching about the damn price feed.

Surely you are trolling and can not honestly be...
happy new year to you too

:d
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -1.0%
Quoting SYNeR
Is it just me, or does it seem like people on here are giving Go Markets a hammering over issues that are completely trivial '
Probably Go Market competition...................................
And some people are never happy unless they are complaining - HAPPY NEW YEAR!!!!!!!!!!!!!!!!!!!!!!!!!!!
Morning guys and welcome back after the holiday break. Plenty of question over the weekend so I'll get through them quickly.

Merlin_sg - Can you email me at [email protected] so I can take a look through what happened on the trade.

ikdenk - Sorry my explanation was a bit rushed last week. We are a STP broker so we mark up all the bid/ask we receive to make money. In terms of our Gold and Silver feed we cannot show the full spread price of the chart due to the nature of our feed and the MT4 platform. If we take the 5 off either side we would make no money. So in essence you can see we receive a spread of 40, you guys trade on spread of 50 for Gold. As mentioned before it's been this way since we launched MT4 and has to remain unfortunately.

Erebus - Technically there was a market open on both Mondays but we had been advised by our LP and other banks and financial institution's that spreads would be very high and seldom would quotes come through. The majority of the brokers we looked at went the same as us, some however stayed open.

Otherwise I hope everyone had a cracking New Years, I know I did down the Coast here in Victoria with the weather we had and if you do call in today and speak to me apologies if I'm sounding a little rough.

Cheers,
Joel
i'm a super new to forex but i already opened a real acc on Go markets...

my question is "stop loss" and "take profit" don't work at market execution on mt4 (go trader).

what is the reason?
(i did redownload and reinstall it.)

now what should i do?
If You try Destiny'll try...
Quoting ochiroo20
i'm a super new to forex but i already opened a real acc on Go markets...

my question is "stop loss" and "take profit" don't work at market execution on mt4 (go trader).

what is the reason?
(i did redownload and reinstall it.)

now what should i do?
You can't set a SL and TP order with a Market Order with STP/ECN/DMA execution model, because it is impossible to know the execution price at the time the order is sent, this can only be known with MM execution types. So you have to go back after you have got a fill and then set the TP and SL
Quoting rooicol
You can't set a SL and TP order with a Market Order with STP/ECN/DMA execution model, because it is impossible to know the execution price at the time the order is sent, this can only be known with MM execution types. So you have to go back after you have got a fill and then set the TP and SL
Alternative solution is using a pending order placed to the pip to enter & then you can set SL/TP within the pending order so when the order is triggered it immediatly get SL/TP.

13
Brokers are angels
Quoting rooicol
You can't set a SL and TP order with a Market Order with STP/ECN/DMA execution model, because it is impossible to know the execution price at the time the order is sent, this can only be known with MM execution types. So you have to go back after you have got a fill and then set the TP and SL
Quoting fx13
Alternative solution is using a pending order placed to the pip to enter & then you can set SL/TP within the pending order so when the order is triggered it immediatly get SL/TP.
thank you very much! Good luck(4 trade & life ).
If You try Destiny'll try...
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Watch out fellow traders!

GO got reported on forums to have ignored SL and TP today.

I myself couldn't close positions manually, ongoing order rejections.

Have never seen something like this in 9 years forex trading! Not even on the worst bucketshops!
i actually had a pending trade which was toally ignored and then when i trade entering market orders kept recing "off quotes" message. never ever seen that before. and my trade which should have triggerd, also went on past my take profit. all the while the trade remained in bottom of navigator window, with the price highlighted yellow like it aw==was a trailing stiop. live chat told me to email gomarkets, and while doing that, the trade mysteriously vanished from my screen!
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Pipo