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  • #5,741
  • Jan 12, 2015 6:15pm Jan 12, 2015 6:15pm
The FIFO-rule has nothing to do with the Dodds-Frank act. Its a rule from the NFA itself.
  • #5,742
  • Jan 12, 2015 9:13pm Jan 12, 2015 9:13pm
Quoting shrike
The FIFO-rule has nothing to do with the Dodds-Frank act. Its a rule from the NFA itself.

If you type in the Forex Factory search box the words "Dodd-Frank FIFO", then you will see many posts of those 2 things together (that of Dodd-Frank and FIFO). Therefore, could it be that the old Dodd-Frank law required the NFA to institute the FIFO rule?
"Dream big and dare to fail." - Norman Vaughan
  • #5,743
  • Jan 12, 2015 9:39pm Jan 12, 2015 9:39pm
Quoting Ace_1
{quote} If you type in the Forex Factory search box the words "Dodd-Frank FIFO", then you will see many posts of those 2 things together (that of Dodd-Frank and FIFO). Therefore, could it be that the old Dodd-Frank law required the NFA to institute the FIFO rule?
The fifo-rule was established more than a year earlier than Dodd-Frank was signed into law.

Also, the so called "hedging" is specific to retail fx only. In no other asset-class will you find such a borderline idiotic concept as being simultanously long and short in the same instrument. Not in stocks, not in futures, not in options, not in institutional fx, nowhere.
  • #5,744
  • Edited Jan 13, 2015 12:39am Jan 12, 2015 10:40pm | Edited Jan 13, 2015 12:39am
Quoting Jason Rogers
{quote} {quote} {quote} {quote} Hi qp2, Frequent "Invalid prices" errors of the kind you describe suggest that the issue could be latency between your computer and the trading server for your account which is located in the US. Your forum profile mentions that you live in New Zealand. Consider using a Virtual Private Server (VPS) to reduce the latency between your MT4 terminal and the corresponding MT4 server. That should also resolve the problems you faced using one-click trading. Running your platform on a VPS that's co-located with our servers...
Hi Jason I downloaded it( VPS)and could not log in untill today as I had to go home and retrieve my PW for FXCM.
It presents me with a generic MT4 platform with my account on but none of the charts and indicaters I have worked hard to set up.
Can I just co-op my existing set up into it? I thought that would be how it worked.
Sorting this would be super easy if I was 14 years old, alas I am not.

Regards Allan.

edit have taken a couple of small trades and played around by closing 1/2 getting stopped out etc etc and it seems to work faster but I am taking setups of my existing FXCM account which is running in slow time on the desk top but with my indicaters and profiles on. I consider round number indicators, time of day, and PP R or S 1,2+3 atr for the time frame being traded super important and its weird trading without them.
  • #5,745
  • Edited Jan 13, 2015 12:32am Jan 12, 2015 11:38pm | Edited Jan 13, 2015 12:32am
How to get more data for oil (MT4 platform, USOil symbol)? I have on monthly chart only from april 2013...
The Market pays you to be disciplined
  • #5,746
  • Edited 2:19pm Jan 13, 2015 6:44am | Edited 2:19pm
FXCM Faulty Charts Use Different Bid/Ask Than Actual Bid/Ask!

Dear Jason Rogers,

Week upon week goes by and I see no correction of your MT4 charting. Why is this taking so long? When will your MT4 charting be correct?
The MT4 order tile shows the prices at which orders will be executed to open and close positions. At the same time, your MT4 chart is based on bid and ask prices that are entirely different from the the MT4 order tile! Your MT4 chart shows a higher ask and a lower bid than does the MT4 order tile! This presents problems.

A set sell price (bid) based on the chart might not be reached by the actual order tile bid, since it is higher than the chart bid. A set buy price (ask) based on the chart might not be reached by the actual order tile ask, since it is lower than the chart ask. However you look at it, it is absurd that bid and ask prices for charting should be completely different from bid and ask prices for the actual execution of orders!

MetaQuotes improved the platform so that it can fit "seamlessly" into a broker's operation. But starting with FXCM removing swaps from being displayed in MT4, and then removing commissions from being displayed in MT4 and making charts based on completely different bid/ask prices from the MT4 order tile (which is till what is valid), .....well it all seems like FXCM is going out of its way to do something, and it isn't sitting well with MT4. Please, explain why FXCM screwed up MT4 in this fashion, and when are they going to have this fixed?

BTW, this is my second posted attempt to get a straight answer from FXCM on this perturbing issue.

Sincerely,
-tah
  • #5,747
  • Jan 13, 2015 7:58am Jan 13, 2015 7:58am
Quoting traderathome
FXCM Faulty Charts Use Different Bid/Ask Than Actual Bid/Ask!
a bone to pick for the Regulator for Negligent misrepresentation.
  • #5,748
  • Jan 13, 2015 8:31am Jan 13, 2015 8:31am
Hi Jason,

What analytical software is TS2 compatible with? ie Trade Exployer, MyFXBook etc

Cheers,
Mitch
  • #5,749
  • Jan 13, 2015 9:10am Jan 13, 2015 9:10am
Quoting Digitalis
Hi Jason I'm trading for an investor under LPOA using TS2. I seem to recall that I can't trade under LPOA with an MT4 account. Is that correct? Thanks
Hi Digitalis,

I may have a solution for you, but I have to follow up with my colleagues to confirm. Please send me an IM with your contact details and the best time to reach you, and please include info on the Trading Station account you would like to have switched to MT4.

Thanks,
Jason
  • #5,750
  • Jan 13, 2015 9:58am Jan 13, 2015 9:58am
Quoting qp2
{quote} Hi Jason I downloaded it( VPS)and could not log in untill today as I had to go home and retrieve my PW for FXCM. It presents me with a generic MT4 platform with my account on but none of the charts and indicaters I have worked hard to set up. Can I just co-op my existing set up into it? I thought that would be how it worked. Sorting this would be super easy if I was 14 years old, alas I am not. Regards Allan. edit have taken a couple of small trades and played around by closing 1/2 getting stopped out etc etc and it seems to work faster...
Hi qp2,

You should be able to transfer your chart templates and indicators from your computer to your VPS. One of our tech support specialists would be happy to walk you through this over the phone. Please email [email protected] to schedule a time that's convenient for you.

Coincidentally, I set up a new VPS recently as well, so that I can keep my platform running even when my computer is off, and also to be able to access the platform remotely from any computer.
  • #5,751
  • Jan 13, 2015 10:04am Jan 13, 2015 10:04am
Quoting mitch77
Hi Jason, What analytical software is TS2 compatible with? ie Trade Exployer, MyFXBook etc Cheers, Mitch
Hi Mitch,

Myfxbook is compatible with Trading Station. While the current version of Trade Explorer is not, we've been told by the Forex Factory developers that they're working on a new version of Trade Explorer that will work with Trading Station.

All FXCM clients have login access to Trading Station regardless of whether they use another platform to trade like MT4, NinjaTrader, ZuluTrade or Mirror Trader. That means once Forex Factory release that TS-compatible version of Trade Explorer, you will be able to link your FXCM account to it.
  • #5,752
  • Jan 13, 2015 10:09am Jan 13, 2015 10:09am
Quoting Ace_1
Jason, Have you heard anything yet in regards to how the new Dodd-Frank rule (signed into law last month) will affect U.S. forex traders? Specifically, will the new relaxed Dodd-Frank law have any positive affects on U.S. traders ... effects such as the lifting of the restrictions on the FIFO rule or any other restrictions of the old Dodd-Frank rule? I'm sure most U.S. traders will be interested in how the new law will affect us.
Hi Ace,

I haven't heard of any changes so far, but if I do, I'll let you know.
  • #5,753
  • Jan 13, 2015 2:25pm Jan 13, 2015 2:25pm
Quoting Sekhbet
Can you tell me why these spreads don't match? One click vs bid ask lines? FXCM-usdReal07 {image}
The difference you notice between your MT4 chart prices and the prices you see in the One Click and Market Watch windows is due to our transition to a new raw FX spread pricing model. The examples below show how the new raw FX spread+commission pricing compares to the old spread-only pricing where a fixed markup used to be included in the spread.

http://i.imgur.com/veY7pcE.png


While the One Click and Market Watch windows display the raw FX spreads you can already trade on, the MT4 charts still display the old pricing that included fixed pip markups in the spread.

Quoting scalpz
{quote} Hi Jason, Can you please update us with what sort of progress is being made on this problem feature with the difference between areas of the MT4 chart prices vs market or 1 click panel prices.
Quoting traderathome
Week upon week goes by and I see no correction of your MT4 charting. Why is this taking so long? When will your MT4 charting be correct?
Quoting duxis
{quote} a bone to pick for the Regulator for Negligent misrepresentation.
While I don't have an exact date for you at this time, I will post an update on this thread just as soon as the MT4 chart feed has been updated to reflect our new pricing. In the meantime, it's worth noting that your MT4 account login details will also allow you to access Trading Station, and the charts on that platform already reflect the raw FX spreads available to you.
  • #5,754
  • Edited 3:05pm Jan 13, 2015 2:31pm | Edited 3:05pm
FXCM Faulty Charts Use Different Bid/Ask Than MT4 Order Tile Bid/Ask Used for Orders Execution!

Dear Jason Rogers,

Week upon week goes by and I see no correction of your MT4 charting. Why is this taking so long? When will your MT4 charting be correct?
The MT4 order tile shows the prices at which orders will be executed to open and close positions. At the same time, your MT4 chart is based on bid and ask prices that are entirely different from the the MT4 order tile! Your MT4 chart shows a higher ask and a lower bid than does the MT4 order tile! This presents problems.

A set sell price (bid) based on the chart might not be reached by the actual order tile bid, since it is higher than the chart bid. A set buy price (ask) based on the chart might not be reached by the actual order tile ask, since it is lower than the chart ask. However you look at it, it is absurd that bid and ask prices for charting should be completely different from bid and ask prices for the actual execution of orders!

MetaQuotes improved the platform so that it can fit "seamlessly" into a broker's operation. But starting with FXCM removing swaps from being displayed in MT4, and then removing commissions from being displayed in MT4 and making charts based on completely different bid/ask prices from the MT4 order tile (which is till what is valid), .....well it all seems like FXCM is going out of its way to do something, and it isn't sitting well with MT4. Please, explain why FXCM screwed up MT4 in this fashion, and when are they going to have this fixed?

BTW, this is my third posted attempt to get a straight answer from FXCM on this perturbing issue. I have included a M1 chart of AU from your currently available download of the MT4 platform software. It clearly shows the MT4 Order Tile ASK and Bid prices that are bounded by your FXCM charting Ask and Bid prices. You can plainly see from the panel in the upper left of the chart, which shows the MT4 Order Tile Bid price, that those prices marked as the MT4 Order Tile Ask & Bid are indeed what the platform uses to execute orders. Trader's orders are not executed at the fictional FXCM charting Ask and Bid prices shown on the chart at the instant of order execution!

I would very much like to see FXCM correct this issue of having two sets of Ask/bid prices simultaneously, one FXCM uses for its charting and the other from the MT4 Order Tile used for the execution of orders! This is nonsense. And it is extremely unprofessional of FXCM to persist in having their MT4 charting this way.

Sincerely,
-tah
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  • #5,755
  • Jan 13, 2015 4:55pm Jan 13, 2015 4:55pm
there rep offered me free VPS with a +20,000 account. one of the biggest brokers in the worth .. offering direct processing to liquidity providers not dealing desk ... I found out from an ex broker that that is technically correct .. orders go straight through BUT they do NOT go direct to the banks ... there is a back office ... big funds are in co op called "something" pools I forget the name anyway there pool .. have a dealing desk .. maybe that is the reason for re-quote delays on news announcements .. the ex broker told me that is rare for the broker to stop hunt .. it is the the liquidity providers .. the big banks .... if FXCM really are the biggest then they will attract a lot of negative chatter because that all the little brokers have to compete ..... as regards the stop hunting and news pike trading .. if you are pike trading the first 10 seconds brother you are in deep water .. the broker .. needs to open the spread or he will get smashed .. and can open 10 pips ... if you really want to spike trade you need to go to trade station or some paid data platform and broker set up ... but if you trade the pull back 50% / 61% 5 to 15 min latter you will do better ... as for stop hunting my advice is .. WISE up or perish FX market is the biggest river of money on the planet .. the traders are only 30% of that only 10% are retail ... so 70% is international monetary transfers .... whist are not trading for a profit if .. for example UK needed to top up US dollar reserves by 1 or 2 billion they will try to get the cheapest AVERAGE price .. so if it was 1 billion they want to buy .. they will sell 3 billion GBP/USD ..of there USD reserves .. so they might hold 10 billion USD in reserves...SO they 3 billion . and push price down then buy back 4 billion this will take a week of 2 .... .. beware a massive spike CAN and does happen in non news announcement time right out of the blue .. it is international monetary transfer .. they are not trading they do not even care about the cost of the spread .. perhaps a big oil company are just paying the bills .. they maybe us a less sophisticated way and just wait a week or two for a pull back to get a discount ... SO MOST of this so called stop hunting is discount hunting .. traders call a fake out ... it is what must profession trades are trading ... the last thing is also important the FX market is an auction .. we all know .. a bid an an ask ... a spike can happen and I believe this 50% of the time NOT due to selling or buying ... it happens at news announcement mostly when the big banks WITHDRAW their orders and process economic data they might be out of the market you guessed it 5 to 15 min ..... If anyone can provide a better wording that would be good .. I am saying it in the words I know ... I hope this helps ... lesson when you see a volatile move ... YES the trade is up BUT wait for the 2nd wave .... regards Kennkann
  • #5,756
  • Edited 6:01am Jan 14, 2015 12:58am | Edited 6:01am
What is up with the spreads jumping second by second this much? Alternating between small spreads and large spreads every refresh. Not happening on IB.

PAIRBIDASK SPREAD
EUR/USD1.176891.17717 2.8
EUR/JPY138.74138.787 4.7
USD/JPY117.85117.889 3.9
EUR/CHF1.200961.20104 0.8
GBP/USD1.515641.5158 1.6
AUD/USD0.816680.81675 0.7
EUR/AUD1.440991.4413 3.1
USD/CAD1.195451.19566 2.1
USD/CHF1.020261.02061 3.5
NZD/USD0.773630.77378 1.5




PAIRBIDASK SPREAD
EUR/USD1.179731.17976 0.3
EUR/JPY137.806137.814 0.8
USD/JPY116.813116.815 0.2
EUR/CHF1.200951.20097 0.2
GBP/USD1.519231.51928 0.5
AUD/USD0.813520.81357 0.5
EUR/AUD1.450061.45015 0.9
USD/CAD1.19681.19684 0.4
USD/CHF1.017961.01802 0.6


EDIT: These are based off what is shown on the fxcm website. If zznbrm's response is showing this is not in fact the case, then it is just some website error.
  • #5,757
  • Jan 14, 2015 3:33am Jan 14, 2015 3:33am
$115 profit in a few trades tonight..... $45 in "comms"...... dam..... they try to dress up the new pricing structure as better, but its all the same b.s.......

39% commisions; Convieniently "unchecked" in the options for your platform says it all!
Im in the wrong business, i'll just become a broker instead.
  • #5,758
  • Jan 14, 2015 4:45am Jan 14, 2015 4:45am
...
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  • #5,759
  • Jan 14, 2015 7:13am Jan 14, 2015 7:13am
Quoting barbs666
$115 profit in a few trades tonight..... $45 in "comms"...... dam..... they try to dress up the new pricing structure as better, but its all the same b.s....... 39% commisions; Convieniently "unchecked" in the options for your platform says it all! Im in the wrong business, i'll just become a broker instead.
Another thing, why are the commissions so much more for the majority of the pairs available?

6 dollars per side per 100k on every pair besides the following: EUR/USD - GBP/USD - USD/JPY - USD/CHF - AUD/USD - EUR/JPY - GBP/JPY
  • #5,760
  • Jan 14, 2015 8:17am Jan 14, 2015 8:17am
Quoting Jason Rogers
{quote} {quote} Please try the steps below now and let me know if that restores the missing data for you. Close your Trading Station platform if it's open. Go to C:\Program Files (x86)\Candleworks\FXTS2\QuoteStorage Delete the History folder. Open Trading Station and your Marketscope charts. Those steps worked for me and for most traders, but we've received reports that some traders are still missing data even after following those steps. If that's the case with you, please send me a private message with your account details so I can have or techs...
It is working now. Thanks.
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