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trading during NFP

  • #21
  • Jul 7, 2006 2:46pm Jul 7, 2006 2:46pm
Quoting highway3000
I just asked in another thread. Could this problem be happening mostly with the MT4 platform. Any non MT4 platform having the same problem ? OR Is there any MT4 players that do not have reqoutes or slippage problems. ?

Thanks
Highway
H,

I don't think this has to do with MT4...I didn't even realize that FXCM used MT4...as far as I know they had their own stuff. Plus I notice that during NFP, even FXSol gets a little bit "jumpy". Nothing horrible, but I wouldn't want to be trying to make a scalp trade during NFP. As I said, during any volatile news (like NFP or the likes), just don't do retail. You're welcome to try all sorts of methods, but in the end, if the success of your trade will be predicated on an exact entry and exit point...retail ISN'T the way to go.

Quoting fl_tradin
I just read at the beginning of this thread by 'blewoutmyaccount' that fxcm was not always like this

And he/she is right, when i started on them in November 2005 I had marvelous execution even though nfp

Now it seems any major volatility is causing issues with the platform.... and it has become really bad the last 3 to 4 months....

is fxcm falling apart from the insides???

who knows...
FL,

I don't think there is anything internally going on. I just think it's probably a policy implemented or finally being enforced. Let's put it this way, if I were a broker and I had to front all sorts of cash/credit to small time traders, I'd probably look for a way to prevent them from over-trading and generating significant losses not only for them, but for the credit you have to provide in order to "standardize" their trades. It may not make for good customer service, but it sure helps your bottom line from crashing.

Also, just FYI, FXCM is not affaliated with RefcoFX...they are "buying" the accounts from RefcoFX (at least that's the theory).
  • #22
  • Jul 7, 2006 4:09pm Jul 7, 2006 4:09pm
after all that is known about FXCM during NFP, its a wonder anyone continues to attempt it.

guys, we are here to make money!!!

when there is a roadblock in the way of your money, you go around it. you dont try to move the roadblock, destroy the roadblock, complain about the roadblock...you just go around it!!!

you gotta stick and move in this game baby! if you are complaining about your broker, its a signal that you dont have your eyes on the money. figure out how to make money, the infrastructure is already set up, you are not a politician who is out to lobby for reform. just look at the landscape and figure how to best manuever through it.

ok, i think i am going to make this the last time i give this speech
Relax and be happy.
  • #23
  • Jul 7, 2006 4:14pm Jul 7, 2006 4:14pm
The answer to your problems: forexbastards.com
Never Ever Give Up!
  • #24
  • Jul 7, 2006 5:20pm Jul 7, 2006 5:20pm
Quoting merlin
after all that is known about FXCM during NFP, its a wonder anyone continues to attempt it.

guys, we are here to make money!!!

when there is a roadblock in the way of your money, you go around it. you dont try to move the roadblock, destroy the roadblock, complain about the roadblock...you just go around it!!!

you gotta stick and move in this game baby! if you are complaining about your broker, its a signal that you dont have your eyes on the money. figure out how to make money, the infrastructure is already set up, you are not a politician who is out to lobby for reform. just look at the landscape and figure how to best manuever through it.

ok, i think i am going to make this the last time i give this speech
I was thinking the same thing. For the love of God, it's real simple -- switch brokers. There's only a ton of ECNs now and a lot are starting to offer micro... or heck, just go with Oanda on the retail side.

'Nuff said.
Mr. Trend
  • #25
  • Jul 7, 2006 5:38pm Jul 7, 2006 5:38pm
Quoting Mr Trend
For the love of God, it's real simple -- switch brokers.
you can do that, or you can have multiple brokers and take advantage of THEM!
Relax and be happy.
  • #26
  • Jul 7, 2006 5:44pm Jul 7, 2006 5:44pm
gft always gets my limit orders perfectly. If i tried to buy at market while the prices is moving , thats is a different story, they want to confirm you will take the slippage.

are you making market orders or do you have limit orders in place to trigger as it crosses them?
  • #27
  • Jul 7, 2006 5:55pm Jul 7, 2006 5:55pm
Quoting ZedHashPip
Consider yourself lucky! I didn't even get the chance to open a trade... Do you always get the message or only during highly volatile periods?
yeah,, still consider myself lucky was able to jump in and trade..

kinda.. even on those not so volatile market news release, i sometimes get that popped up.
  • #28
  • Jul 7, 2006 6:04pm Jul 7, 2006 6:04pm
Quoting MoneyMa$ter
Unfortunately, I have to agree with Purple. There's a ton of info regarding FXCM in this forum. If you think you can't afford education resulting from research, you will find out how expensive experience can be.
i just knew just now that i'm not alone. i rarely trade. that's why i'm not up to date on the latest happenings. i'm happy and satisfied before. no problem. its only this year that things are not what it used to be.
  • #29
  • Jul 7, 2006 6:05pm Jul 7, 2006 6:05pm
Quoting fx4fun
Why not try Oanda. I grid trade in 10 pip slots with 19 pip TP. I had no problem with fills, profit takes or limit orders today during NFP. I have completed more than 650 trades with Oanda since April and have only had slippage once and then of just 2 pips .
yeah, i'm already considering OANDA or gft.still reading more info on their site and getting the feel of their trading platform...
  • #30
  • Jul 7, 2006 6:12pm Jul 7, 2006 6:12pm
Quoting fl_tradin
I just read at the beginning of this thread by 'blewoutmyaccount' that fxcm was not always like this

And he/she is right, when i started on them in November 2005 I had marvelous execution even though nfp

Now it seems any major volatility is causing issues with the platform.... and it has become really bad the last 3 to 4 months....

is fxcm falling apart from the insides???

who knows...
yeah! they used to be very stable. even before i was just using dialup to trade. i can get in and out in very volatile markets with no problem. only a few seconds delay before your order show on the trading platform...started back 2003 with fxcm.

version 1 was better back then..when ver 2 popped up..issues also begin to haunt..

yupz, only this year that this issues came up..
  • #31
  • Jul 7, 2006 6:15pm Jul 7, 2006 6:15pm
Quoting merlin
after all that is known about FXCM during NFP, its a wonder anyone continues to attempt it.

guys, we are here to make money!!!

when there is a roadblock in the way of your money, you go around it. you dont try to move the roadblock, destroy the roadblock, complain about the roadblock...you just go around it!!!

you gotta stick and move in this game baby! if you are complaining about your broker, its a signal that you dont have your eyes on the money. figure out how to make money, the infrastructure is already set up, you are not a politician who is out to lobby for reform. just look at the landscape and figure how to best manuever through it.

ok, i think i am going to make this the last time i give this speech
well said Merlin...
  • #32
  • Jul 7, 2006 6:18pm Jul 7, 2006 6:18pm
Quoting merlin
you can do that, or you can have multiple brokers and take advantage of THEM!
yupz, i do have multiple brokers.. can always switch from one to the other :
  • #33
  • Jul 7, 2006 6:22pm Jul 7, 2006 6:22pm
Quoting witchazel
gft always gets my limit orders perfectly. If i tried to buy at market while the prices is moving , thats is a different story, they want to confirm you will take the slippage.

are you making market orders or do you have limit orders in place to trigger as it crosses them?
oic.. some notes to consider on gft..

i'm taking market orders. you can't get limit orders as they are 50-200 pips away from the current market price a few minutes before the release.
  • #34
  • Jul 7, 2006 7:32pm Jul 7, 2006 7:32pm
No not related as in business together.... but FXCM put in a bid to buy out the refco clients that were left hanging when refco went belly up.... so u could say that fxcm was trying to expand its client base but from what i understand they were never the same company..... unless someone out there knows more than i do....

Quoting baddison
Aren't they related to REFCOfx somehow??
  • #35
  • Jul 7, 2006 7:43pm Jul 7, 2006 7:43pm
Yeah not trying to make a scalp but at least taking a position would be nice...which fxcm has dropped the ball on...

I have spent so much time focusing on technical analysis and fundanmentals on the fx mkt, i never paid much attention to the business models that the retail brokers are operating on and to say the least i'm getting an agressive education in how they work the past 3 days. I used to trade equities all the time, naz and stuff, and i had a plethora of tools to get inside the spread and see market depth... those tools make very aggressive traders sucessfull. I use multiple styles of trades.... some of my trades are entry orders with stops and limits and never really need attending to... entries and exits are not overly precise and for this a retail fx account is well suited...these trades last hours to days...

But it is painfully obvious for the agressive trader and the news trader a full blow ecn account with direct access to bank feeds is what would be needed, especially for scalping ....... enough of this second hand retail trading.... cause thats basically what it is....u get ur ccy second hand, plus some slippage...

After watching propfx for a few days is so apparent that there would be tons more trades, scalps and others, that would otherwise never been possible on the retail stuff.... and with razor sharp rate accuracy...

Of course u cannot open an ecn account with 500 or even 5000 bucks.... so therefore many folks are automatically eliminated.... barriers to entry thats all....

thanks mrmikal

vince

Quoting mrmikal
H,

but I wouldn't want to be trying to make a scalp trade during NFP. As I said, during any volatile news (like NFP or the likes), just don't do retail. You're welcome to try all sorts of methods, but in the end, if the success of your trade will be predicated on an exact entry and exit point...retail ISN'T the way to go.
  • #36
  • Jul 7, 2006 7:47pm Jul 7, 2006 7:47pm
Ur right, I was just getting antsy.... My IB who lives near me and set me up with fxcm in the beginning went to their office for a VAR program to learn about being an IB....

FXCM outright told his class that they lose massive amounts of money on nfp days and other economic releases.... and its clear that if the accounts cannot trade then they cannot inflict any damage.... this all comes from the fact that fxcm has got to get to market to cover your trade quick enought before slippage kicks in on their side....

Another reason to cut out the middle man.... is just inefficient...

vince

Quoting mrmikal
FL,

I don't think there is anything internally going on. I just think it's probably a policy implemented or finally being enforced. Let's put it this way, if I were a broker and I had to front all sorts of cash/credit to small time traders, I'd probably look for a way to prevent them from over-trading and generating significant losses not only for them, but for the credit you have to provide in order to "standardize" their trades. It may not make for good customer service, but it sure helps your bottom line from crashing.

Also, just FYI, FXCM is not affaliated with RefcoFX...they are "buying" the accounts from RefcoFX (at least that's the theory).
  • #37
  • Jul 7, 2006 7:49pm Jul 7, 2006 7:49pm
Cant agree more after today..... my short term plan is to keep two retails accounts and open up and ecn account... use what works when it works... and so forth...

Quoting merlin
you can do that, or you can have multiple brokers and take advantage of THEM!
  • #38
  • Jul 8, 2006 3:46am Jul 8, 2006 3:46am
Quoting witchazel
gft always gets my limit orders perfectly. If i tried to buy at market while the prices is moving , thats is a different story, they want to confirm you will take the slippage.

are you making market orders or do you have limit orders in place to trigger as it crosses them?
Did you ever had to wait 10, 20 min for a limit order to get filled during high volatility? I had to. It got filled eventually without slippage, but those 20 min were hell to endure.
  • #39
  • Jul 8, 2006 5:36am Jul 8, 2006 5:36am
Quoting jessieblue
Did you ever had to wait 10, 20 min for a limit order to get filled during high volatility? I had to. It got filled eventually without slippage, but those 20 min were hell to endure.
From my experienced with GFT, they have a calender on votality posted in advanced. They are transparent on this issue. Your orders during these times are not guaranteed and it usually lasts only a few minutes.

I think all brokers cant 100% guarantee orders during high votality periods,and sadly many are not transparent on this issue.

Use this link to see what GFT offers and investigate.

http://www.gftforex.com<WBR>/freetrial/index.asp?sid=14

All the best
Change Your Thinking. Change Your Life - JD
  • #40
  • Jul 8, 2006 5:42am Jul 8, 2006 5:42am
Quoting OrangeRoshan
From my experienced with GFT, they have a calender on votality posted in advanced. They are transparent on this issue. Your orders during these times are not guaranteed and it usually lasts only a few minutes.

I think all brokers cant 100% guarantee orders during high votality periods,and sadly many are not transparent on this issue.

Use this link to see what GFT offers and investigate.

http://www.gftforex.com<WBR>/freetrial/index.asp?sid=14

All the best
Thanks for your reply. Do you happen to have a link for that volatility calendar? I can't seem to find it on their site.
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