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  • #7,061
  • Feb 10, 2015 8:10am Feb 10, 2015 8:10am
Quoting porterneil
My stop-loss did not execute at -35 pips as planned and I stopped out for a -1700 pip loss. Doesn't this mean that all the talk about "risk management" and "never trade without a stop-loss" is absolute bullcrap?
You don't specify an execution price for a stop order. You specify the trigger price. The market decides what price you get. Your broker just follows your instructions, so you need to understand what you are requesting.

There is a lot more to risk management than placing a stop loss and hoping for the best.
  • #7,062
  • Feb 10, 2015 9:20am Feb 10, 2015 9:20am
Quoting euclid
{quote} You don't specify an execution price for a stop order. You specify the trigger price. The market decides what price you get. Your broker just follows your instructions, so you need to understand what you are requesting. There is a lot more to risk management than placing a stop loss and hoping for the best.
Oh yeah? Like what? What can make a 1700 pip loss more manageable?
  • #7,063
  • Feb 10, 2015 11:41am Feb 10, 2015 11:41am
Quoting Alone.
Hello Jason After an update that i had on my FXCM Trading Station.The (SHOWTIME) on M5 says 7:00 min when a new candel oppens and on M1 3min.Other look fine.Are they working on platform or its something i did. EDIT: (Added SS)What i actually means is this,The Showtime says nexr 1 minite candle closes in 2min. {image}
Quoting Jason Rogers
{quote} Hi Alone. Thanks for your question about the SHOWTIMETOEND indicator. I've asked our software developers to take a closer look at this and will let you know what they say.
Quoting Alone.
{quote} Sure , thanks
Quoting Alone.
{quote} Again thanks a lot for your help Jason.I think that it has beed fixed now.

Thanks for sharing this update, Alone. The problem was that the time stamp on CFD quotes was a few minutes off, but that has now been corrected.
  • #7,064
  • Feb 10, 2015 11:50am Feb 10, 2015 11:50am
Real story:

Broker 1 : DUCASCOPY
(A broker who clearly state losses can exceed your capital)

3 Oct. 14 : « Due to the possibility of a break of the 1.2000 floor in EUR/CHF which may see significant price gaps and cause negative equity on client accounts, Dukascopy Bank is forced to implement a maximum leverage for EURCHF exposures of 1:10 as of 12 October 2014 »
https://www.dukascopy.com/swiss/engl...urnews/?page=1

16 Jan. 15 : « Dukascopy Group announces that it has safely passed through the CHF dramatic price shift. It was achieved thanks to advanced execution technology, careful risk management policy and reduced leverage on EURCHF till level of 1:10 »
https://www.dukascopy.com/swiss/english/about/ournews/

19 Jan 15 : « Management of Dukascopy Group has decided to take an exceptional decision to cover negative balances on client accounts related to CHF move on SNB decision on 15.01.2015. In spite of the fact that agreements and regulation allow Dukascopy to claim negative balances compensated by clients, it was decided to release customers from obligation to cover negative balance. Dukascopy Bank and Dukascopy Europe invite all the industry to follow the same approach to build up customers trust in the industry. »

23 Jan 15 : « Recently EURCHF has triggered a lot of news noise and fears. Many clients and FX brokers around the world have suffered significant losses after the SNB decision to let go of the 1.2000 floor in EURCHF. This has forced many banks and brokers to increase their margin requirements for this currency pair. True to its vision of doing things differently, Dukascopy is going the opposite way by welcoming EURCHF "back to the family" by aligning its margin requirements with the other major currency. »
https://www.dukascopy.com/swiss/english/about/ournews/

I invented nothing, it is all copy/paste from Duka’s web site.


Broker 2 : FXCM
(No negative A/C balance possible here, we commit to set it back to zero)

Before 15 Jan 15 : while several brokers increaged their margin for EURCHF, FXCM was proud to state that a serious, professional broker stick to his commitment. Hence, they enroled quit a few new traders running off the ‘bad brokers’, which lowered the leverage on that pair.

15 Jan. 15 : HELP !!!! there ain’t any captain in this plane ! Hell goes loose, it’s definetly a case of Force Majeure.

16 Jan. 15 : No worries guys, rescue team has arrived. It’s all OK, and guess what, we are financially stronger then ever. You guys have some negative A/C balance, yeh well, we are looking into it.

19th, 20th, 21th….. 27th Jan : ok, ok, ok, we are working here, give us some time...

28th June 15 : OK ; 90% of you lucky traders can go ! Say what … the other 10%, well they should pay, don’t you think so, there the ‘rich’ / professional guys, do not worry for them.

Yes, I stereotyped a bit the situation of the 2nd broker…. But… not far off!!



Now you tell me, who’s the pro, the responsible, the reliable partner?

Note : I am no Duka customer… actually I am a FXCM ‘customer’… kicking myself everyday for that!!
  • #7,065
  • Feb 10, 2015 12:08pm Feb 10, 2015 12:08pm
Quoting jackJoh
I have seen how FXCM manipulates daily volume bars at the weekend. Here are the pictures I took. Notice how the volume bars for 1/29/2015 are different sizes even though they are the same date. On the first daily chart the volume bar for 1/29 is very long. And the second chart the volume bar for the 1/29 was changed to smaller size. Why is FXCM manipulating the volume daily bars in the weekend? {image} {image}
Quoting Sis.yphus
hmmmmm I must say that is rather odd/shady. Would love to hear FXCM response to that
Quoting Jason Rogers
{quote} {quote} Hi Jack and Sys.yphus, FXCM doesn't manipulate the volume data on your charts. However, we did release a new update to the Trading Station platform this past weekend. It's possible the changes you see are related to that. I asked our tech support team to take a look at the examples you provided and will let you know when I hear back from them.
Quoting Sis.yphus
{quote} Even if the new update is the cause of the change in data. The data was changed by yalls hand and that is kind of odd. I mean was no body looking at the true volume until this current update? Now manipulation is a strong word because that implies the intent to deceive the people looking at it

Our techs took a closer look at this for you. The reason why you see different volume bars for January 29th on those two charts is because the first chart shows Real Volume, while the second chart shows Tick Volume.

For future reference, Real Volume tells you how many currency units traded, while Tick Volume tells you how many times the price updated. Real Volume is one of 5 new volume indicators that were added in this past weekend's update of Trading Station Desktop. The video below has more details on these new volume indicators.

Inserted Video
  • #7,066
  • Feb 10, 2015 1:39pm Feb 10, 2015 1:39pm
Breaking: FXCM Poised to Discontinue 13 ‘High Risk’ Currency Pairs

http://forexmagnates.com/breaking-fx...urrency-pairs/http://forexmagnates.com/breaking-fx...urrency-pairs/
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,067
  • Edited 2:13pm Feb 10, 2015 1:55pm | Edited 2:13pm
Quoting vinshunlee
{quote} same as me. I understand slippage. I accept that the stop loss is not exactly executed at the pre-set level. But my stop loss were entirely not executed that day. Thus my account became negative. My account has been set zero. I am "forgiven" by FXCM. I need not be forgiven by FXCM. I just wish my stop loss executed. I do not forgive FXCM for not executing my stop loss order. I have complained so to FXCM. But staff replied me that the contract has stated stop loss may not work . I remember that once I attended the FXCM office in 2013. The...
You do realize that Stop losses don't guarantee orders being filled at that exact price during moment of high volatility, right? That means prices CAN wildly fluctuate. Go look it up on investing websites (ex: investopedia.com)

Their definition of stop losses EXPLICITLY tells you that stop losses may not be triggered when the price moves too fast.

The SNB price floor collapse caught entire financial institutions (even central banks) offguard; the eur/chf saw a chart movement of 10,000pips+, most of which were done in the first 30 seconds.

I'm sorry about your loss, but you should've been careful; many brokers warned their customers about this weeks before, and lowered their leverages & made announcements. It's impossible to fill the orders anywhere near conventional stop losses when you have the biggest price shock in forex history for the past 40 years or so.

My advice is to stay away from those trades during important meeting weeks; the past few years have been bad for the euro, and with a massive QE announcement coming in place, you should've played it safe.
  • #7,068
  • Edited 2:13pm Feb 10, 2015 1:58pm | Edited 2:13pm
Quoting mindscream
{quote} Oh yeah? Like what? What can make a 1700 pip loss more manageable?
By avoiding the trade altogether. Honestly, those who did their homework stayed away from eur/chf months ago. Bad years for the Euro, the necessity of a one trillion+ expected QE coming right after CHF announcements, Swiss economy losing billions trying to holds the price of the euro/chf pegged to a price floor, etc.

A few months ago, several brokers like Dukascopy warned their traders about a potential collapse in the price floor, and increased margin requirements. I just stayed away and didn't even bother shorting eur/chf. I didn't want to be caught in the potential whiplash.
  • #7,069
  • Feb 10, 2015 2:41pm Feb 10, 2015 2:41pm
Quoting rayzz
Ponder this fact: 1. FXCM stock price dropped to $2.30 from $17 because they have a negative $225m on paper due to poor risk management in managing their CHF books. 2. They need to pay interest + principal of $300m in 3 years to Leucadia. 3. Their only income to payback the loan is by getting portion of $225m negative balances. But, with their no-negative-balance policy and advertisement, getting this money would be impossible. This is why they are threathening retail clients with a civil case and trying to change the wording on their website and...
me too and I guess lot of other traders also doubt the same. I was a client of FXCM.
newzTrader
  • #7,070
  • Edited 5:19pm Feb 10, 2015 2:43pm | Edited 5:19pm
Quoting adi17
Real story: Broker 1 : DUCASCOPY (A broker who clearly state losses can exceed your capital) 3 Oct. 14 : « Due to the possibility of a break of the 1.2000 floor in EUR/CHF which may see significant price gaps and cause negative equity on client accounts, Dukascopy Bank is forced to implement a maximum leverage for EURCHF exposures of 1:10 as of 12 October 2014 » https://www.dukascopy.com/swiss/engl...urnews/?page=1 16 Jan. 15 : « Dukascopy Group announces that it has safely passed through the CHF dramatic price shift. It was achieved...

great info. Thanks.

I agree that FXCM is trying to twist what was said earlier with latest stuff just to stay afloat. People like me who had large deposits WON'T deal with FXCM again.
newzTrader
  • #7,071
  • Feb 10, 2015 2:46pm Feb 10, 2015 2:46pm
Quoting Jason Rogers
{quote} {quote} {quote} {quote} Thanks for sharing this update, Alone. The problem was that the time stamp on CFD quotes was a few minutes off, but that has now been corrected.
Everything is fine now.
  • #7,072
  • Feb 10, 2015 7:34pm Feb 10, 2015 7:34pm
Quoting Vermillion
{quote} You do realize that Stop losses don't guarantee orders being filled at that exact price during moment of high volatility, right? That means prices CAN wildly fluctuate. Go look it up on investing websites (ex: investopedia.com) Their definition of stop losses EXPLICITLY tells you that stop losses may not be triggered when the price moves too fast. The SNB price floor collapse caught entire financial institutions (even central banks) offguard; the eur/chf saw a chart movement of 10,000pips+, most of which were done in the first 30 seconds....
I think every regulator should provide after this calamity with SNB decision that SL most be respected as placed. Without guaranteed SL there is not possible to have risk management. Forex Brokers must have 2 options..to obey clients SL or send them written alert message that due to the high risk involved on certain pairs at given moments postitions will be closed due to high risk...no more mumbo-jumbo discusssions of type "stop losses EXPLICITLY tells you that stop losses may not be triggered when the price moves too fast" please
  • #7,073
  • Feb 10, 2015 10:08pm Feb 10, 2015 10:08pm
Quoting stoplossmatt
{quote} I think every regulator should provide after this calamity with SNB decision that SL most be respected as placed. Without guaranteed SL there is not possible to have risk management. Forex Brokers must have 2 options..to obey clients SL or send them written alert message that due to the high risk involved on certain pairs at given moments postitions will be closed due to high risk...no more mumbo-jumbo discusssions of type "stop losses EXPLICITLY tells you that stop losses may not be triggered when the price moves too fast" please
How about this: instead of wanting to impose regulatory requirements that not everyone wants, YOU start a brokerage that GUARANTEES stop losses! I am sure many traders will be very interested in how exactly you accomplish this....switch off your liquidity providers and only match in house orders? Or just have some giant slush fund of money sitting around just in case something bad happens? Or set up in a country that provides some kind of gov't insurance against any trading losses?

Either way, its time to be the solution, and not rely on others to legislate a reality that is acceptable for you - start a brokerage! I'll be your first client lol
  • #7,074
  • Feb 10, 2015 10:54pm Feb 10, 2015 10:54pm
Quoting Vermillion
{quote} You do realize that Stop losses don't guarantee orders being filled at that exact price during moment of high volatility, right? That means prices CAN wildly fluctuate. Go look it up on investing websites (ex: investopedia.com) Their definition of stop losses EXPLICITLY tells you that stop losses may not be triggered when the price moves too fast. The SNB price floor collapse caught entire financial institutions (even central banks) offguard; the eur/chf saw a chart movement of 10,000pips+, most of which were done in the first 30 seconds....
sorry ! i am a chinese. english is not my mother tongue. Perhaps u don't exactly catch what I mean.

I do comprehend and accept the stop loss not to be executed at the pre-set level.

But both FXCM website and staff deliver the message to me that the stop loss are guaranteed to be executed with slippage. However, FXCM's contract tells another matter.

If I were properly warned that the stop loss may be un-executable, it would have been fine.

but on the contrary , i was repeatedly assured by the FXCM's staff that stop loss is guaranteed.

That's why I am so angry.
  • #7,075
  • Feb 10, 2015 11:07pm Feb 10, 2015 11:07pm
Quoting Vermillion
{quote} By avoiding the trade altogether. Honestly, those who did their homework stayed away from eur/chf months ago. Bad years for the Euro, the necessity of a one trillion+ expected QE coming right after CHF announcements, Swiss economy losing billions trying to holds the price of the euro/chf pegged to a price floor, etc. A few months ago, several brokers like Dukascopy warned their traders about a potential collapse in the price floor, and increased margin requirements. I just stayed away and didn't even bother shorting eur/chf. I didn't want...
Well said very well said. What's funny is no one was complaining about the profits off the temporary floor for the past 4 years. Now however because people cant take responsibility for their own actions others have to suffer. This action is no different then trying to trade the jaw bones by the BOJ years back. People were making a 100 pips in a few minutes buying the pair and over leveraging. Then it stopped and they lost money. There is no such thing as a sure thing. People who gambled on that lost now take responsibility pay back what you can and start over smarter and wiser.
  • #7,076
  • Feb 10, 2015 11:12pm Feb 10, 2015 11:12pm
Quoting mindscream
{quote} Oh yeah? Like what? What can make a 1700 pip loss more manageable?
Well for one proper leverage. If you have $1000.00 in your account and you are trading at say.05 per pip you can afford to lose 2000 pips which would still leave you with 30% of your account after the 1700 pip loss. FX is not a lets get rich over night market its more like a get your butt handed to you blow out a few accounts and then learn to trade.
  • #7,077
  • Feb 11, 2015 1:40pm Feb 11, 2015 1:40pm
Guys, look at this add, look closely, what is this guy looking at:
Do not go strait to the answer, look at the guy, follow his eyes, what is he looking at...

Attached Image


.... yes his A/C balance

Question:
- Did he just close that super ID deal?
- Was his A/C balance just reset to zero?
- Is he part of the Top10 club?

Answer:
He does not seem stressed enough to be part of the Top10, too dull for someone who just closed that 127pips ID deal...
Yes, he just got his ass saved!

Just joking of course, tomorrow we will be back with more serious stuff.
  • #7,078
  • Feb 11, 2015 2:16pm Feb 11, 2015 2:16pm
Burgundy Asset Management Ltd. Sold all its shares in $FXCM.

http://www.sec.gov/Archives/edgar/da...493dsc13ga.htm

...Some people do not understand the term 'opportunity' or did I miss something here!


Seen first on Twitter: unemon ‏@unemon1
  • #7,079
  • Feb 11, 2015 3:19pm Feb 11, 2015 3:19pm
Quoting adi17
Burgundy Asset Management Ltd. Sold all its shares in $FXCM. http://www.sec.gov/Archives/edgar/da...493dsc13ga.htm ...Some people do not understand the term 'opportunity' or did I miss something here! Seen first on Twitter: unemon ‏@unemon1
what is the use of keeping it anyway? already too late.
newzTrader
  • #7,080
  • Feb 11, 2015 5:24pm Feb 11, 2015 5:24pm
Quoting Jason Rogers
{quote} Hi Allan, The fact that your account worked on VPS suggests that the problem was indeed latency as I had suspected. You should be able to trade your own platform from within the VPS to address this issue. Please send me a private message with your contact details and the best time to reach you. I'll have our tech support team walk you through how to set this up over the phone. Thanks, Jason
Hi Jason it has been sorted I have been trading from my normal MT4 on the desk top and placing trades on the beeksfx VPS it worked but was cumbersome my first trade on the dedicated VPS came up with an invalid price again, I will play with it and get back but this is the screen shot.
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