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FXCM MT4 Good/Bad vs IBFX?

  • #261
  • Oct 6, 2014 6:16am Oct 6, 2014 6:16am
Question about partial profits while trading with FXCM.

can one take partial profits while trading with FXCM or FIFO rule applies ? i was switched recently from IBFX to FXCM and before the switch I was told that i can take partial profits, but this does not appear to be the case - in one of my recent trades, ALL my positions were closed, regardless.

if FIFO rule applies with FXCM anybody has experience with CitiFx / netting account type?
Thank you.
Once A Trader Always A Trader.
  • #262
  • Oct 6, 2014 9:37am Oct 6, 2014 9:37am
So....

My EA keeps showing "Invalid Price" and fails to trade. This is not making me happy. This never happened so frequently at IBFX. I did once in a great while get this at IBFX, but so far in the past 2 weeks I've seen this about 4 to 5 times, which is A LOT considering I don't trade frequently. This morning it happened twice and I got no trades in.

I already changed my deviation to 30 and my slippage on orders is 3 pips (which is the same as it was on IBFX).

I'm a bit frustrated about this so far. I'm losing trades on this. Any thoughts as to why this is happening?!?!

I'm wondering if trying to get the 'best' price as FXCM is advertising is causing lag and not allowing me to get into a trade when prices fluctuate. I'm not sure how the backend of FXCM works, but so far, not so good.


Jeff.
  • #263
  • Oct 6, 2014 10:50am Oct 6, 2014 10:50am
Quoting civilpes2001
{quote} Actually I run every windows software through wine in my Linux OS, but it is the only problem with the FXCMs TS-II. Well anyway I will try with the website. let me see how it works. I also know about the virtual box , but it would be a hassle. thanks anyway civilpes2001
Hi Civilpes2001,

Another option for you would be to use a Virtual Private Server (VPS). The VPS environment is Windows-based. In addition, the VPS will allow you to run Trading Station Desktop 24-hours a day, even when your own Linux computer is offline or turned off, which is great for automated strategies. While VPS access can cost upwards of $30 per month, FXCM clients with an account balance of at least $5000 can get free VPS access: http://www.fxcm.com/forms/vps-hostin...0000000MusRAAS
  • #264
  • Oct 6, 2014 11:01am Oct 6, 2014 11:01am
Quoting webjeff
So.... My EA keeps showing "Invalid Price" and fails to trade. This is not making me happy. This never happened so frequently at IBFX. I did once in a great while get this at IBFX, but so far in the past 2 weeks I've seen this about 4 to 5 times, which is A LOT considering I don't trade frequently. This morning it happened twice and I got no trades in. I already changed my deviation to 30 and my slippage on orders is 3 pips (which is the same as it was on IBFX). I'm a bit frustrated about this so far. I'm losing trades on this. Any thoughts as to...

I am using deviation of "200".. 20 pips with an EA and still get a ton of Invalid price..
  • #265
  • Oct 6, 2014 11:16am Oct 6, 2014 11:16am
Quoting Jason Rogers
{quote} Hi Civilpes2001, Another option for you would be to use a Virtual Private Server (VPS). The VPS environment is Windows-based. In addition, the VPS will allow you to run Trading Station Desktop 24-hours a day, even when your own Linux computer is offline or turned off, which is great for automated strategies. While VPS access can cost upwards of $30 per month, FXCM clients with an account balance of at least $5000 can get free VPS access: http://www.fxcm.com/forms/vps-hostin...0000000MusRAAS

Hey Jason,

I was curious about how many lots can a trader trade per trade. In otherwords, what is the maximum lot(s) can one trader trade per trade irrespective of the amount of capital invested say, I compound the money over a period of time and I am only using fixed amount of risk per trade. I am sending an example of compounding of an account and please note the risk is the lot size per trade. I just want to know if is there any limit to the lot size as you notice that the lot size increases as the account size increases. So the lot size even reaches more than 5 digits.

So please give me the info..

civlpes2001
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  • #266
  • Oct 6, 2014 11:33am Oct 6, 2014 11:33am
Quoting Liviu
Question about partial profits while trading with FXCM. can one take partial profits while trading with FXCM or FIFO rule applies ? i was switched recently from IBFX to FXCM and before the switch I was told that i can take partial profits, but this does not appear to be the case - in one of my recent trades, ALL my positions were closed, regardless.
Hi Liviu,

FIFO regulations apply to all US trading accounts regardless of the broker. However, you can still partially close trades on your MT4 platform.

http://i.imgur.com/cC7lu2g.png


In the Order window of MT4, you can adjust the Volume field to close only part of your open position. Then click on the Close button.
  • #267
  • Oct 6, 2014 4:25pm Oct 6, 2014 4:25pm
Quoting webjeff
So.... My EA keeps showing "Invalid Price" and fails to trade. This is not making me happy. This never happened so frequently at IBFX. I did once in a great while get this at IBFX, but so far in the past 2 weeks I've seen this about 4 to 5 times, which is A LOT considering I don't trade frequently. This morning it happened twice and I got no trades in. I already changed my deviation to 30 and my slippage on orders is 3 pips (which is the same as it was on IBFX). I'm a bit frustrated about this so far. I'm losing trades on this. Any thoughts as to...
I kept getting the very same errors with my codes on FXCM, so I had to make sure that the slippage was being sent properly. Once I re-coded the slippage function/logic it all works flawlessly with a 2 pip slippage setting along with an MT4 max deviation setting of just 2 pips, zero errors now. Make sure to have a properly functioning 4-5 digit switch in your codes and apply it to your SL/TP, Spread, Slippage, Point, and Digit functions. That might just work for your code issues...
  • #268
  • Oct 6, 2014 4:39pm Oct 6, 2014 4:39pm
Quoting civilpes2001
{quote} Hey Jason, I was curious about how many lots can a trader trade per trade. In otherwords, what is the maximum lot(s) can one trader trade per trade irrespective of the amount of capital invested say, I compound the money over a period of time and I am only using fixed amount of risk per trade. I am sending an example of compounding of an account and please note the risk is the lot size per trade. I just want to know if is there any limit to the lot size as you notice that the lot size increases as the account size increases. So the lot size...
it use to be 50 million per trade but you could do multiple 50 milion per trade
  • #269
  • Oct 6, 2014 4:53pm Oct 6, 2014 4:53pm
Quoting zznbrm
{quote} Yes, create your own history files for those non-standard timeframes. Best way to do that would be to use the most applicable standard timeframe data provided by MT4 to create your non-standard history files. For example, for M2, M3, M7, M16, M33....you would want to use the M1 chart data to create the history files. For H2, H3, H5...you would want to use the H1 chart data to create the history files. From mql help file: Timeframes, different from the standard timeframes of the client terminal (PERIOD_M1, PERIOD_M5, PERIOD_M15, PERIOD_M30,...
Thanks for the suggestion, Zznbrm
  • #270
  • Oct 6, 2014 5:02pm Oct 6, 2014 5:02pm
Quoting webjeff
So.... My EA keeps showing "Invalid Price" and fails to trade. This is not making me happy. This never happened so frequently at IBFX. I did once in a great while get this at IBFX, but so far in the past 2 weeks I've seen this about 4 to 5 times, which is A LOT considering I don't trade frequently. This morning it happened twice and I got no trades in. I already changed my deviation to 30 and my slippage on orders is 3 pips (which is the same as it was on IBFX). I'm a bit frustrated about this so far. I'm losing trades on this. Any thoughts as to...
Quoting lufkindog
{quote} I am using deviation of "200".. 20 pips with an EA and still get a ton of Invalid price..
Quoting Aad
{quote} I kept getting the very same errors with my codes on FXCM, so I had to make sure that the slippage was being sent properly. Once I re-coded the slippage function/logic it all works flawlessly with a 2 pip slippage setting along with an MT4 max deviation setting of just 2 pips, zero errors now. Make sure to have a properly functioning 4-5 digit switch in your codes and apply it to your SL/TP, Spread, Slippage, Point, and Digit functions. That might just work for your code issues...
Thank for the suggestion, Aad

Webjeff and Lufkindog, please let me know if you still experience issues after trying Aad's suggestion. There could be any number of reasons for the Invalid Price errors you see, but fortunately all of them have a solution. If necessary, I can arrange a follow up call for you from one of our tech specialists, so they can troubleshoot these issues for you in real time to determine the exact cause and provide the appropriate solution.
  • #271
  • Oct 6, 2014 5:25pm Oct 6, 2014 5:25pm
Quoting civilpes2001
{quote} Hey Jason, I was curious about how many lots can a trader trade per trade. In otherwords, what is the maximum lot(s) can one trader trade per trade irrespective of the amount of capital invested say, I compound the money over a period of time and I am only using fixed amount of risk per trade. I am sending an example of compounding of an account and please note the risk is the lot size per trade. I just want to know if is there any limit to the lot size as you notice that the lot size increases as the account size increases. So the lot size...
Quoting PoundTrader
{quote}it use to be 50 million per trade but you could do multiple 50 milion per trade
Hi Civilpes2001,

As PoundTrader stated (thanks ), the maximum size for a single order through FXCM is 50 million currency units. On the MT4 platform, that's written as 500.00 standard lots. On Trading Station, that's written as 50,000 K. However, you can still take larger positions overall by breaking them up into blocks of 50 million.
  • #272
  • Oct 6, 2014 9:39pm Oct 6, 2014 9:39pm
Quoting Jason Rogers
{quote} {quote} Hi Civilpes2001, As PoundTrader stated (thanks ), the maximum size for a single order through FXCM is 50 million currency units. On the MT4 platform, that's written as 500.00 standard lots. On Trading Station, that's written as 50,000 K. However, you can still take larger positions overall by breaking them up into blocks of 50 million.
come on fxcm get me my stop limits orders
  • #273
  • Oct 7, 2014 7:47am Oct 7, 2014 7:47am
Quoting Jason Rogers
{quote} {quote} Hi Civilpes2001, As PoundTrader stated (thanks ), the maximum size for a single order through FXCM is 50 million currency units. On the MT4 platform, that's written as 500.00 standard lots. On Trading Station, that's written as 50,000 K. However, you can still take larger positions overall by breaking them up into blocks of 50 million.

Hi jason could you please explain this. I assume it is not splitting the total lot size.

civilpes2001
  • #274
  • Edited 5:18pm Oct 7, 2014 4:48pm | Edited 5:18pm
Quoting civilpes2001
{quote} Hi jason could you please explain this. I assume it is not splitting the total lot size. civilpes2001
Hi Civilpes2001,

What I meant was this: suppose you wanted to buy 200 million EUR/USD. Since the maximum order size is 50 million, you could place 4 orders each to buy 50 million EUR/USD and get your total position that way. Our clients who trade in that volume have access to additional services and custom commission settings through our Private Client Group. For more information, you can email [email protected]
  • #275
  • Oct 8, 2014 7:10am Oct 8, 2014 7:10am
FAST FUNDING WITH FXCM:


I just want to thank FXCM openly for their dillingent and speedy manner of processing incoming client funds.

i asked the bank to send a check on Sept. 26th, to fund the FXCM account (electronic check). Surprise, the check was "just" received today, after several emails with the FXCM representatives (i received 3 different blitz, totally relevant answers from 3 different persons) and also opening an inquiry with the bank . Another exhilarating fact is that the funds will be credited to my account on Oct. 20th (it takes only 7 biz. days to clear the funds).

No typos here - the electronic request to bank was send on Sept. 26th, money were withdrawn from the bank account instantly and FXCM will credit my account at the end of Oct. 20th business day( we are talking about the same calendar year).

---------------------------------

My only question left now, is how long does it take to withdraw the money, and what is the best way to proceed.

Thanks.
Once A Trader Always A Trader.
  • #276
  • Oct 8, 2014 9:05am Oct 8, 2014 9:05am
Quoting Liviu
FAST FUNDING WITH FXCM: I just want to thank FXCM openly for their dillingent and speedy manner of processing incoming client funds. i asked the bank to send a check on Sept. 26th, to fund the FXCM account (electronic check). Surprise, the check was "just" received today, after several emails with the FXCM representatives (i received 3 different blitz, totally relevant answers from 3 different persons) and also opening an inquiry with the bank . Another exhilarating fact is that the funds will be credited to my account on Oct. 20th (it takes only...
HOLY COW!!!

Liviu, I see you are in the US. Your experience is disturbing to say the least. What kinds of responses were you getting from FXCM?
  • #277
  • Oct 8, 2014 2:32pm Oct 8, 2014 2:32pm
Hi Dargane,

Standard responses, as below.

"Dear ***. FXCM has received your personal check sent to fund your trading account. The deposit will clear in 7 business days and will be applied to your account by the end of [that] day.... For quicker funding options, please visit www.MyFXCM.com. Third Party Payments FXCM does not accept funds for any trading account via a third party. Restrictions on third party payments are set by banks and the U.S. authorities, which have developed extensive procedures, regulations, and laws to stop the transfer of illegal funds, commonly known as money laundering. In addition, it provides the client with the assurance that funds from his account are never paid out to another entity. FXCM offers excellent execution and easy accessibility to our clients. We provide live support 24 hours a day, seven days a week. Your feedback is important to us".
----------------------------
I got the response from the bank. it is not entirely FXCM problem (they were supposed to receive the check by Oct. 3rd). It is a very sloppy transfer, and the overegulation for kinds of services plainly works against us.

Thanks.
Once A Trader Always A Trader.
  • #278
  • Oct 8, 2014 3:42pm Oct 8, 2014 3:42pm
Quoting Liviu
FAST FUNDING WITH FXCM: I just want to thank FXCM openly for their dillingent and speedy manner of processing incoming client funds. i asked the bank to send a check on Sept. 26th, to fund the FXCM account (electronic check). Surprise, the check was "just" received today, after several emails with the FXCM representatives (i received 3 different blitz, totally relevant answers from 3 different persons) and also opening an inquiry with the bank . Another exhilarating fact is that the funds will be credited to my account on Oct. 20th (it takes only...
Quoting dargane
{quote} HOLY COW!!! Liviu, I see you are in the US. Your experience is disturbing to say the least. What kinds of responses were you getting from FXCM?
Quoting Liviu
Hi Dargane, Standard responses, as below. "Dear ***. FXCM has received your personal check sent to fund your trading account. The deposit will clear in 7 business days and will be applied to your account by the end of [that] day.... For quicker funding options, please visit www.MyFXCM.com. Third Party Payments FXCM does not accept funds for any trading account via a third party. Restrictions on third party payments are set by banks and the U.S. authorities, which have developed extensive procedures, regulations,...
Hi Liviu,

Thanks for providing additional clarification. Like Dargane, I was at first puzzled why your transfer should take so long. When you referred to an "electronic check", I thought you meant ACH. However, from the details in your second post, it sounds like you used your online banking to send us a paper check. Please note that there is a 7-10 business day holding period, which begins upon receipt of the check, before they clear into your trading account: http://www.fxcm.com/accounts/deposit...0000000MusRAAS

As an alternative, since you live in the US, I recommend ACH. That's my preferred transfer method. It's free and like a paper check, the funds are transferred from your checking account. However, unlike paper check, funds deposited by ACH are usually in your account in a couple of business days. It works the same way when you make a withdrawal back to your checking account by ACH.

If you want to deposit funds into your trading account instantly, then you can do so by using a credit card or debit card. This method is also free, though you are limited to depositing $20,000 per month into your account by this method. Also, future withdrawals must be sent back to the same card, and these withdrawals can take a few days longer to reach you than ACH withdrawals. That's because card withdrawals are processed as a refund back to your card.

For these reasons, I think ACH is the best all around option for US traders for flexibility, cost (free) and speed ​(when you consider both deposit and withdrawal speed). You can review these options further in our Deposits & Withdrawals FAQ: http://help.fxcm.com/Deposits-Withdr...0000000MusRAAS
  • #279
  • Oct 8, 2014 4:24pm Oct 8, 2014 4:24pm
Hi Jason,

Thanks for clarification. The 7-10 business days "holding period" is more than reasonable, and maybe I am just an impacient guy still living in a paleolithic era. Can't beat the regulations imposed on little guys like us, whereas for other people, a few milliseconds is a long epoch

http://www.amazon.com/Flash-Boys-Mic...dp/0393244660/

http://www.nanex.net/research/fantas...taseconds.html
(guess even Einstein would declare that his work on relativity is wrong in the light of these results).

Anyway, from Oct. 3 till Oct. 20, if one stretches the count and watches the moon phases carefully, there are 10 business days nevertheless.
Once A Trader Always A Trader.
  • #280
  • Oct 8, 2014 5:44pm Oct 8, 2014 5:44pm
Quoting Liviu
and watches the moon phases carefully
Speaking of which, did you catch the blood moon early this morning?
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