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Problems with order execution

  • #1
  • First Post: Jun 26, 2013 7:24pm Jun 26, 2013 7:24pm
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I was attempting to trade this news event with some pending orders and the trade was clearly red and just kept getting worse and worse second by second so I got out of it even tho it was a sell how the hell is this possible?

That price shows up nowhere on the 1m chart until later -_-
  • #2
  • Jun 26, 2013 8:41pm Jun 26, 2013 8:41pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting justin7
{image} I was attempting to trade this news event with some pending orders and the trade was clearly red and just kept getting worse and worse second by second so I got out of it even tho it was a sell how the hell is this possible? That price shows up nowhere on the 1m chart until later -_-
Did you ask your broker?
  • #3
  • Jun 26, 2013 9:07pm Jun 26, 2013 9:07pm
yes I sent it in it was absolutley ridiculous
  • #4
  • Jun 26, 2013 9:10pm Jun 26, 2013 9:10pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting justin7
yes I sent it in it was absolutley ridiculous
Which broker is it and what did they say?
  • #5
  • Jun 26, 2013 9:22pm Jun 26, 2013 9:22pm
Quoting onu
{quote} Which broker is it and what did they say?
its abroker called tradersway and I'll post here what they tell me
  • #6
  • Jun 26, 2013 9:40pm Jun 26, 2013 9:40pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting justin7
{quote} its abroker called tradersway and I'll post here what they tell me
Address: 8 Copthall, Roseau Valley, 00152 Dominica

http://www.forexpeacearmy.com/public...tradersway.com

Good luck!
  • #7
  • Jun 26, 2013 10:44pm Jun 26, 2013 10:44pm
Quoting onu
{quote} Address: 8 Copthall, Roseau Valley, 00152 Dominica http://www.forexpeacearmy.com/public...tradersway.com Good luck!
sent it to customer support thru email I'm obviously not going to send snail mail lol but thanks. I hadn't had any problems before but this is just absurd..I have the proof right there on the charts so hopefully they can reimburse me if not then I will post negative reviews
  • #8
  • Jun 26, 2013 10:49pm Jun 26, 2013 10:49pm
Quoting mmaker
{quote} Sometimes I wondered what's the point of all these broker reviews and discussion threads comparing various brokers, when people STILL decide to open accounts with obscure unregulated brokers domiciled in small island nations ..... only to come back complaining about exactly the same things they were warned by the reviews in the first place. I don't want to use strong words on someone I don't know yet, but this is just "expected". {quote}
I hadn't read reviews for brokers this is the broker I had first started with when I tested forex back about a year ago so I just didn't see the point changing since then. I'm not in that category where I ask and someone tells me not to and I still do it lol.
  • #9
  • Jun 26, 2013 10:54pm Jun 26, 2013 10:54pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting justin7
{quote} sent it to customer support thru email I'm obviously not going to send snail mail lol but thanks. I hadn't had any problems before but this is just absurd..I have the proof right there on the charts so hopefully they can reimburse me if not then I will post negative reviews
You still don't get it... its the location of this broker which makes a bright trader to stay away..
  • #10
  • Jun 26, 2013 10:59pm Jun 26, 2013 10:59pm
Quoting onu
{quote} You still don't get it... its the location of this broker which makes a bright trader to stay away..
Well I had no idea brokers did things like this this is my first time experiencing something like this due to pure manipulation and cheating.
  • #11
  • Jun 27, 2013 3:42am Jun 27, 2013 3:42am
got a reply:

Hello,
On the chart you see BID price. While your closing order was BUY that is filled at ASK price that is higher.
Best regards,
Sales Department
  • #12
  • Jun 27, 2013 4:56am Jun 27, 2013 4:56am
Quoting mmaker
{quote} Can you rephrase again what actually was the problem? What do you mean the trade was "clearly red" and "kept getting worse and worse"? You mean your P&L (profit/loss) or do you mean the red bar? You shorted and covered at a loss. That's normal trading. So what is the problem with this trade, apart from you taking a loss?? What price ("..... that price") show up 1min later? What is the not "possible" issue? If anyone else understood what happened, can you please rephrase for me? I don't see what's the problem other than he took a...
clearly red as in yes it kept going lower the price was going lower on my sell I had placed. that's ridiculous and absurd that the price would creep lower and lower but yet my profits were become less. this is not normal this is manipulation. And about the price of 80 that I closed the trade at. I said that the price didn't even show up near there when I closed out. it's absurd
  • #13
  • Jun 27, 2013 7:26am Jun 27, 2013 7:26am
Do you understand the difference between the bid and the ask price? And that said difference routinely blows out during news releases?
  • #14
  • Jun 29, 2013 11:18pm Jun 29, 2013 11:18pm
Best that you get an account to trade the news with on a fixed spread broker until you fully understand how the bid/ask (spread) behaves on a variable spread account at newstime.
  • #15
  • Jun 30, 2013 11:25am Jun 30, 2013 11:25am
Quoting justin7
{image} I was attempting to trade this news event with some pending orders and the trade was clearly red and just kept getting worse and worse second by second so I got out of it even tho it was a sell how the hell is this possible? That price shows up nowhere on the 1m chart until later -_-
It's simple. Even tho you were short, and price was going down, there was a news event so the spread was getting wider and wider, thus making the Ask price go up while the Bid goes down. Since you cover a short on the Ask, you were going negative.

1: dont trade the news, especially dont scalp the news (your chart is in M1)
2: NZD is one of the most volatile currency without much liquidity, act in consequence
3. Always draw the ask line on your charts
If you aim for the stars- but miss, you still get the moon...
  • #16
  • Last Post: Jun 30, 2013 7:17pm Jun 30, 2013 7:17pm
No broker, however dodgy is going to manipulate a trade to make 15 bucks from you. The trader would be paid more than that just for spending the time to edit the price.

Saying that, pick a safe broker, in Australia or the UK.
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