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manual execution POLL

  • #21
  • Jun 27, 2006 11:30am Jun 27, 2006 11:30am
Quoting mrcooldude
how long did it take for FXCM to put you on manual execution? and were you entering and exiting trades within 2 minutes,....
i'll be very interested to know...

Dude,

What difference does it make? Point is, FXCM effectively denied traders legitimate profits (that's "capital punishment"), not to mention misleading clients with the puffery (read "b*lls**t") regarding faster servers for live account execution.

As far as the 2 minute entry/exit, my [attempted] trade is outlined in the earlier blog. It was a simple stop market with a protective stop, prior to the release of NFP. Probably worth 75 - 125 pips; My lots are standard; not mini lots or mini-mini lots or mini-me. :-)
  • #22
  • Jul 5, 2006 8:19am Jul 5, 2006 8:19am
I very recently began testing a extremely aggressive scalping system with my fxcm mini account. I was really leveraging it and taking a stab at the monthly contest.

Well this morning after taking a 12 pip scalp on 8 standard lots (800k), my trading station started giving the message "waiting for dealer"

Now first of all let me say that I have been with fxcm on this account for about 12 months and love the company, the system, and speed of execution. Needless to say I was EXTREMELY pleased with fxcm. So this is not a bash fxcm message, just a recount of what has happened to me.

Well I spoke with a representative and my IB also called on my behalf. Basically the fxcm rep told me that fxcm takes a position in the market identical to the customers, that way they dont make $$ on the customer, he was really determined to make this point, again, i'm only relaying what he said, I have no idea what the truth is concerning fxcm as the counter party to a trade.

He went on to say that scalpers move in/out of the market so quickly that it tends to throw off the fxcm ledger....who knows if that is the truth....

Basically he said my account will be on manual execution or all orders. I inquired for how long, he said indefinitely. So I'm supposed to check back in a week to a month and see what they think.....after another review of my account and a reduction of my scalping...

Whatever....its really a pain when you click close position, and get stuck with waiting for dealer for 10 seconds per ticket/order....

Handicapped trading for sure... sorry to say, a real dissappointment...

much luck to you all
Vince
  • #23
  • Jul 5, 2006 12:12pm Jul 5, 2006 12:12pm
Quoting fl_tradin
Basically he said my account will be on manual execution or all orders. I inquired for how long, he said indefinitely. So I'm supposed to check back in a week to a month and see what they think.....after another review of my account and a reduction of my scalping...
Vince,

You and your capital are being punished by this manual execution thing. Vote with your feet and walk....it's your money (as if you need me to remind you).

Why submit to "another review" of your account?? Because your style is scalping? If you want to scalp with your money, then by all means do so!!!! You have a choice.
  • #24
  • Jul 5, 2006 12:39pm Jul 5, 2006 12:39pm
I agree 100%.....and am looking into a prop account with direct to bank routing....market depth and 1 to 2 pips spread on euro....no dealing desk is involved...

But on the other hand, I do like my mini account with fxcm, the platform, and the execution that i did have.

I would gladly just use that account for swing trades as I do work both styles.... we'll see... I have a contact with fxcm who can get me some leverage (my IB) and probably get this annoyance removed in a few weeks

Until then I'll gladly just take my 50 pip average target size on my intra day trades.... that style requires less of me watching and hovering around the computer anyways...

No doubt this is shitty...really annoying to have someone telling you when you can and cannot place an order...

Vince
  • #25
  • Jul 5, 2006 12:39pm Jul 5, 2006 12:39pm
Quoting fl_tradin
I very recently began testing a extremely aggressive scalping system with my fxcm mini account. I was really leveraging it and taking a stab at the monthly contest.

Well this morning after taking a 12 pip scalp on 8 standard lots (800k), my trading station started giving the message "waiting for dealer"

Now first of all let me say that I have been with fxcm on this account for about 12 months and love the company, the system, and speed of execution. Needless to say I was EXTREMELY pleased with fxcm. So this is not a bash fxcm message, just a recount of what has happened to me.

Well I spoke with a representative and my IB also called on my behalf. Basically the fxcm rep told me that fxcm takes a position in the market identical to the customers, that way they dont make $$ on the customer, he was really determined to make this point, again, i'm only relaying what he said, I have no idea what the truth is concerning fxcm as the counter party to a trade.

He went on to say that scalpers move in/out of the market so quickly that it tends to throw off the fxcm ledger....who knows if that is the truth....

Basically he said my account will be on manual execution or all orders. I inquired for how long, he said indefinitely. So I'm supposed to check back in a week to a month and see what they think.....after another review of my account and a reduction of my scalping...

Whatever....its really a pain when you click close position, and get stuck with waiting for dealer for 10 seconds per ticket/order....

Handicapped trading for sure... sorry to say, a real dissappointment...

much luck to you all
Vince
My reply to your post did not make it here. It was deleted ! !
Disappointing ! !
  • #26
  • Jul 5, 2006 1:40pm Jul 5, 2006 1:40pm
Quoting highway3000
My reply to your post did not make it here. It was deleted ! !
Disappointing ! !
Why was it deleted?

What was it?
  • #27
  • Jul 6, 2006 12:20am Jul 6, 2006 12:20am
The best thing about FXCM and their trading station is their news service (IFR Forex Watch), keep your accounts active, with the minimum balance required , i think it's $50, to benefit from the IFR news service and take your buckets for play to another beach!!!!!!!!! I think the best platform yet is the MONEYFOREX platform, despite the fact that money forex is domiciled in BVI.




Quoting fl_tradin
I very recently began testing a extremely aggressive scalping system with my fxcm mini account. I was really leveraging it and taking a stab at the monthly contest.

Well this morning after taking a 12 pip scalp on 8 standard lots (800k), my trading station started giving the message "waiting for dealer"

Now first of all let me say that I have been with fxcm on this account for about 12 months and love the company, the system, and speed of execution. Needless to say I was EXTREMELY pleased with fxcm. So this is not a bash fxcm message, just a recount of what has happened to me.

Well I spoke with a representative and my IB also called on my behalf. Basically the fxcm rep told me that fxcm takes a position in the market identical to the customers, that way they dont make $$ on the customer, he was really determined to make this point, again, i'm only relaying what he said, I have no idea what the truth is concerning fxcm as the counter party to a trade.

He went on to say that scalpers move in/out of the market so quickly that it tends to throw off the fxcm ledger....who knows if that is the truth....

Basically he said my account will be on manual execution or all orders. I inquired for how long, he said indefinitely. So I'm supposed to check back in a week to a month and see what they think.....after another review of my account and a reduction of my scalping...

Whatever....its really a pain when you click close position, and get stuck with waiting for dealer for 10 seconds per ticket/order....

Handicapped trading for sure... sorry to say, a real dissappointment...

much luck to you all
Vince
Capital Tool
  • #28
  • Jul 6, 2006 10:26am Jul 6, 2006 10:26am
This thread did not violate forum regulations!

Why are members' replies to this thread being deleted?
Why was the name FXCM deleted from thread title?
Why is Forex Factory covering up FXCM?

C'mon guys, we are only stating facts here!!!
It really isn't our fault that some of these facts aren't positive.
What's the point of starting a thread if you're going to delete its content?
Where's the solidarity and honesty of this forum?
  • #29
  • Jul 6, 2006 12:00pm Jul 6, 2006 12:00pm
Flame them guys! They (FXCM) really deserve it!
Never Ever Give Up!
  • #30
  • Jul 6, 2006 12:07pm Jul 6, 2006 12:07pm
Quoting fl_tradin
I agree 100%.....and am looking into a prop account with direct to bank routing....market depth and 1 to 2 pips spread on euro....no dealing desk is involved...

But on the other hand, I do like my mini account with fxcm, the platform, and the execution that i did have.

I would gladly just use that account for swing trades as I do work both styles.... we'll see... I have a contact with fxcm who can get me some leverage (my IB) and probably get this annoyance removed in a few weeks

Until then I'll gladly just take my 50 pip average target size on my intra day trades.... that style requires less of me watching and hovering around the computer anyways...

No doubt this is shitty...really annoying to have someone telling you when you can and cannot place an order...

Vince
Hey Vince,

can we keep in touch in some way ?...Can you just let appear your email for a few secs ?...

I'm also dealing with this manual S*

Guys I told you it's full of fxcm affiliates in here & the only way to defend our interests is to pool our energies. It is just orchestrated...
Don't post too explicit anti fxcm posts or they'll be deleted.......
  • #31
  • Jul 6, 2006 12:22pm Jul 6, 2006 12:22pm
MXT, who's post was deleted? I can see even deleted posts and I do not see any... point me to it please... thanks scott



Quoting MXT
Hey Vince,

can we keep in touch in some way ?...Can you just let appear your email for a few secs ?...

I'm also dealing with this manual S*

Guys I told you it's full of fxcm affiliates in here & the only way to defend our interests is to pool our energies. It is just orchestrated...
Don't post too explicit anti fxcm posts or they'll be deleted.......
  • #32
  • Jul 6, 2006 12:26pm Jul 6, 2006 12:26pm
Highway, There is no post by you in this thread that was deleted. The only dleted post is my own, at the beginning...

Quoting highway3000
My reply to your post did not make it here. It was deleted ! !
Disappointing ! !
  • #33
  • Jul 6, 2006 12:28pm Jul 6, 2006 12:28pm
There are no deleted posts in this thread with the exception of my own post at the beginning. Point me to a deleted statement... Thanks scott

There is one other at the begining where Yigal uses the F word... Nothing else at all...



Quoting Liquid4x
This thread did not violate forum regulations!

Why are members' replies to this thread being deleted?
Why was the name FXCM deleted from thread title?
Why is Forex Factory covering up FXCM?

C'mon guys, we are only stating facts here!!!
It really isn't our fault that some of these facts aren't positive.
What's the point of starting a thread if you're going to delete its content?
Where's the solidarity and honesty of this forum?
  • #34
  • Jul 6, 2006 12:31pm Jul 6, 2006 12:31pm
I'm not an FXCM customer but hey guys after reading the report on http://www.nfa.futures.org/BasicNet/...2&contrib=CFTC I thought may be those who are their customer need to close their account ASAP.

Have fun
  • #35
  • Jul 6, 2006 2:14pm Jul 6, 2006 2:14pm
Quoting smjones
MXT, who's post was deleted? I can see even deleted posts and I do not see any... point me to it please... thanks scott
Hi Scott,

The title of this thread was deleted and amended in order not to show
the name of the broker involved...

Cheers..
  • #36
  • Jul 6, 2006 2:27pm Jul 6, 2006 2:27pm
There are numerous "damn borkers/brokers/retail SOB's" out there that it is easy to lose track of which thread you posted in
Folks, if you think you losta a post do a search on your ID's to keep track.


Quoting smjones
There are no deleted posts in this thread with the exception of my own post at the beginning. Point me to a deleted statement... Thanks scott

There is one other at the begining where Yigal uses the F word... Nothing else at all...
In trading, there is no bullshit. You either make money or you don't.
  • #37
  • Jul 6, 2006 3:11pm Jul 6, 2006 3:11pm
I voted 'no' too soon.

In the last couple of days after submitting orders, got no response for about 5-10s and then 'waiting for dealer's answer'. cancelled it out, made new orders, got the same thing over and over again.
Personally, I think we(FF) should be more careful about picking sponsors for our forum and drop those that are shady. If I had a choice, I'd rather pay annual subscription for this great forum and don't see some of the advertised houses.

g.bye fxcm
  • #38
  • Jul 6, 2006 4:11pm Jul 6, 2006 4:11pm
Quoting raczekfx
I voted 'no' too soon.

In the last couple of days after submitting orders, got no response for about 5-10s and then 'waiting for dealer's answer'. cancelled it out, made new orders, got the same thing over and over again.
Personally, I think we(FF) should be more careful about picking sponsors for our forum and drop those that are shady. If I had a choice, I'd rather pay annual subscription for this great forum and don't see some of the advertised houses.

g.bye fxcm
I also voted "no" a while back...

I'm in the same situation. It started last week Thursday or Friday. And believe me I'm far from being successful. When I contacted them about it via live chat I was told the message is shown for every user. I had my doubts about it. Later a so called expert phoned me to clair things up. I was told the message only shows up when the market is very volatile. But the thing is that I'm getting the screen for every trade.

I have 2 questions:

1) Is there a difference between the "waiting for dealer's answer" and "waiting for dealer's approval" message? Maybe the latter is worse and the first got really introduced recently for all accounts.
2) So is it really true that all FXCM users get the "waiting for dealer's answer" message?

I read over here that scalpers are not really welcome. I personally use the method sometimes, but certainly not on a regular basis. If it is true that only a limited group of people get this treatment then I wonder why I didn't read any of it in the official documents. Or did I just miss that? Anyway they could have at least warned us about it.

Why they would do this to poor little me is still beyond me. I'm not successful and they know it.
  • #39
  • Jul 6, 2006 4:25pm Jul 6, 2006 4:25pm
Quoting mrgreen
There are numerous "damn borkers/brokers/retail SOB's" out there that it is easy to lose track of which thread you posted in
Folks, if you think you losta a post do a search on your ID's to keep track.
Thanks MrGreen. That was a good idea. I found my other supposed " deleted post " moved to classified ads and the reply to this thread in another place. Sorry members ! ! It was probably my own fault. Should have searched for it first before posting my remarks. My apology SM Jones and Liquid4x.

Highway
  • #40
  • Jul 6, 2006 5:18pm Jul 6, 2006 5:18pm
hi,
i have the same problem with my current broker, i closed the account but he only gave me 2/3 of my money back, any ideas how to get the rest of the money back? and what is your current broker after you closed the account?
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