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  • #7,141
  • Feb 18, 2015 2:13pm Feb 18, 2015 2:13pm
been trading in expectation of the FOMC.
before the big move, platform froze (mt4).
what a joke, really!
than everything went smoothly, good spreads, good everything.
made some profits scalping m1.
that's frustrating!
anyone anticipating cftc's new regulation tomorrow?
fxcm $2.14 right now (2.28% in the red for today).
kind of scary! should i reduce my account?
  • #7,142
  • Feb 18, 2015 3:16pm Feb 18, 2015 3:16pm
I too was trading with expectation of the FOMC minutes. I had an order to sell 2 lots of GBPCAD at 1.9185 with my SL at 1.9200. At 21:00:00 it opened at 1.91878 and my trade was executed at 1.91835 and immediately stopped out in 1 second. Could the spread for this pair be over 16 pips at the FOMC minutes announcement? Of course the pair went down almost 35 pips in a minute which would have been a nice gain. Seems ridiculous that the spread was that high for this pair at that time. Might be time I looked for a new broker.....
  • #7,143
  • Feb 18, 2015 4:37pm Feb 18, 2015 4:37pm
Problem is, the dodd frank act caused many brokers to close their doors (in the us that is). Truth is we are simply screwed until the masses wake up and vote out the lefties that think we have it too good in america.
  • #7,144
  • Feb 18, 2015 6:21pm Feb 18, 2015 6:21pm
Quoting cogs
So these are what FXCM see as high risk currencies.
Quoting GoodOlJoe
Here is the list of currencies being discontinued by fxcm on feb 20. {image}
The currency pairs we removed from the platform carry significant risk due to over-active manipulation by their respective government either by a floor, ceiling, peg or band. They had relatively little volume being traded by clients compared to the majors, but we still felt it best to remove these pairs due to the risk they pose.
  • #7,145
  • Feb 18, 2015 6:31pm Feb 18, 2015 6:31pm
Quoting MikeFT
{quote} Thank you for the information. If this is, what they do, I simply will not open a real account with them. There is no reason to accept such a weird behavior of MT. I was hoping it's a technical problem and FXCM would appreciate the information and resolve the issue asap - that should be in the interest of FXCM too, if FXCM is interested in new customers, after they did check the Demo... I'm curious about one thing, even if I won't utilize an account with such behavior for anything: If I'd use an EA and tell the EA to buy at a certain price,...
MikeFT,

The data feed that supplies the bid, ask, H,L,O,C for charting is for charting. The data feed that supplies the bid/ask for the Market Watch panel also supplies the bid/ask for the Order panel. It is an absurd and stupid thing for FXCM to do. It shows that they have a very low concern for what they cause their clients to have to put up with, which in turn shows you how they really feel about their clients vs how they feel about the reasons they have for doing this,....no matter what they say about it all.

We all know that if there is a difference between what someone says and what someone does, well......you go by what they do.
  • #7,146
  • Feb 18, 2015 6:38pm Feb 18, 2015 6:38pm
Quoting buytosell
Jason Can FXCM add USH15 and VIX to Meta Trader ?...not for trading just to be there ....
Hi Buytosell,

While it's not currently possible to trade VIX with FXCM, you can still view it on Trading Station's Marketscope charts using the Yahoo Finance Chart View. This custom chart view from FXCodeBase.com will allow to see charts for many symbols that are available on Yahoo Finance. This chart view is not available on MT4, but your FXCM MT4 account login details will allow you to access the Trading Station platform: http://bit.ly/11sZCva

http://img4.imageshack.us/img4/858/x4xs.png


For example, you can chart VIX by entering the symbol ^VIX, and you can chart the Dow Jones FXCM Dollar Index by entering the symbol ^USDOLLAR.
  • #7,147
  • Feb 18, 2015 6:49pm Feb 18, 2015 6:49pm
Quoting MikeFT
If I'd use an EA and tell the EA to buy at a certain price, which price triggers the EA? The price on the chart or the price in the order window.
Hi Mike,

It would depend on whether the EA is coded to trigger based on the chart price or the Bid/Ask prices in the Market Watch window. I will post an update in this thread just as soon as a solution has been implemented so that the MT4 charts reflect our new raw FX spread pricing which you see in the Market Watch window.
  • #7,148
  • Feb 18, 2015 6:58pm Feb 18, 2015 6:58pm
Quoting heph
been trading in expectation of the FOMC. before the big move, platform froze (mt4). what a joke, really! than everything went smoothly, good spreads, good everything. made some profits scalping m1. that's frustrating!
Hi Heph,

I'm glad to hear that you made profits scalping on your account. However, you mentioned that your MT4 platform froze before the FOMC announcement. Keep in mind that the frequency with which prices update during a news event can be many times greater than at other times. (You can confirm this by viewing the tick volume during the time in question, since that will count the number of price updates for each candle.)

More price updates mean more calculations that have to be performed on each chart indicator/EA that you are running. Consider closing out charts, indicators and EAs that you won't need during the news event itself. This could help optimize the performance of your MT4 platform during the news event. If you save your chart setups as a profile, then you can load them back after the news event.

If you're not running any EAs during the news event, then you may want to consider using Trading Station to place your manual orders during a news event. Your FXCM MT4 account login details will also let you access Trading Station: http://bit.ly/11sZCva
  • #7,149
  • Feb 18, 2015 7:14pm Feb 18, 2015 7:14pm
Quoting Dobbsie
I too was trading with expectation of the FOMC minutes. I had an order to sell 2 lots of GBPCAD at 1.9185 with my SL at 1.9200. At 21:00:00 it opened at 1.91878 and my trade was executed at 1.91835 and immediately stopped out in 1 second. Could the spread for this pair be over 16 pips at the FOMC minutes announcement? Of course the pair went down almost 35 pips in a minute which would have been a nice gain. Seems ridiculous that the spread was that high for this pair at that time. Might be time I looked for a new broker.....
Hi Dobbsie,

On our No Dealing Desk (NDD) forex execution, FXCM simply passes on the best prices we receive from competing liquidity providers. A spread of 16 pips on a non-major currency pair like GBP/CAD should not come as a surprise during a news event like FOMC. Setting stops that tight even on a major currency pair during a news event could lead you to be stopped out, because liquidity providers will often widen spreads during these times due to the uncertainty in the market.
  • #7,150
  • Feb 18, 2015 7:19pm Feb 18, 2015 7:19pm
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  • #7,151
  • Feb 18, 2015 9:35pm Feb 18, 2015 9:35pm
Jason,

I have a question for you. The current Bid/Ask for the EUD/USD pair is 1.14195/1.14197 but the chart line is showing 1.14184. Why is that?
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 32 KB


Thanks,
Carl
  • #7,152
  • Feb 19, 2015 7:50am Feb 19, 2015 7:50am
Quoting Jason Rogers
{quote} Hi jsr, Great suggestions! I just forwarded the list over to the Trading Station project manager. {quote} Our programming services team created the Historical Data Downloader giving you the ability to access up to 10 years of historical data. The typical price is $499, but FXCM is now hosting an open house for a limited time with a $500 credit to the app store. FXCM Open House 2015. Enjoy!...
Jason, thanks for your reply.

I must say that FXCM should offer it's data completely free to all it's clients. However, as long as a 499$ app won't cost me a dime due to the FXCM's Open House, I "purchased" Historical Data Downloader with the openhouse coupon code last monday. I received my order confirmation and I downloaded the app, but I haven't received my registration code. So it didn't work for me.

Is there any problem with this app?
  • #7,153
  • Feb 19, 2015 9:12am Feb 19, 2015 9:12am
I forgot to say that even if Historical Data Downloader will give me access to the data, I won't be able to use it in MarketScope.

The idea is to be able to use it in my live trading. I understand there is a limit of 15000 bars per chart in order to make a better use of memory, but the thing is that MarketScope does not keep the data stored locally, and I think MarketScope should keep as much data as the user wants in his own hard disk.

For example MT4 lets you set Max Bars in History and Max Bars in Chart. Max being 2147483647 bars. (Menu->Tools->Options). These settings let me use MT4 to go far in the past to analyze zones of interest, set the Fixed Chart Position, and zoom in by switching to m1 or other LTF. That's what I'm requesting in Marketscope.

PS: I should be able to download data once and use it as many times as I want.

MarketScope downloads the same data again everytime I switch TF.

It does not make sense.
  • #7,154
  • Feb 19, 2015 9:26am Feb 19, 2015 9:26am
Quoting cpearson
Jason, I have a question for you. The current Bid/Ask for the EUD/USD pair is 1.14195/1.14197 but the chart line is showing 1.14184. Why is that? {image} Thanks, Carl
Hi Carl,

The Bid and Ask prices you see in your Market Watch window are the prices available to you for trading. You are trading on our new super-tight spread + commission pricing, more details here. The MT4 charts still show our old pricing because some clients on these servers have not yet been upgraded to the new pricing since it is rolled out on a region by region basis. MT4 servers can only show one price feed at a time. Many of our clients are still on our old pricing so we have not been able to update the chart price feed yet. We are working on a solution and I will make an update once it is available.

Jason
  • #7,155
  • Feb 19, 2015 9:38am Feb 19, 2015 9:38am
Quoting jsr
{quote} Jason, thanks for your reply. I must say that FXCM should offer it's data completely free to all it's clients. However, as long as a 499$ app won't cost me a dime due to the FXCM's Open House, I "purchased" Historical Data Downloader with the openhouse coupon code last monday. I received my order confirmation and I downloaded the app, but I haven't received my registration code. So it didn't work for me. Is there any problem with this app?
Hi jsr,

Sorry about the delay experienced. The product key is typically sent within 24 hours of ordering, but due to the huge volume we've experienced in response to the open house it is taking longer than normal. If you still have not received it, feel free to send me an email with the name and email you used to register and I can see about having it expedited.

Jason
  • #7,156
  • Feb 19, 2015 10:21am Feb 19, 2015 10:21am
Quoting jsr
I forgot to say that even if Historical Data Downloader will give me access to the data, I won't be able to use it in MarketScope. The idea is to be able to use it in my live trading. I understand there is a limit of 15000 bars per chart in order to make a better use of memory, but the thing is that MarketScope does not keep the data stored locally, and I think MarketScope should keep as much data as the user wants in his own hard disk. For example MT4 lets you set Max Bars in History and Max Bars in Chart. Max being 2147483647 bars. (Menu->Tools->Options)....
Trading Station desktop does store data locally for all non-tick timeframes, albeit not in readable format. Once it is downloaded, Trading Station won't download the same data again. Anything you download from the Historical Data Downloader is available with Marketscope. The HDD gives you the ease of mass exporting the data which you can then use for back-testing and importing into other programs.

If you want to see a specific point of interest on a historical basis, I would recommend manually setting the data range when creating the chart. The 15,000 bar limit is there for the reason you mentioned, but extending this bar range would also mean a loss in the visual precision of individual candles.
  • #7,157
  • Edited 10:53am Feb 19, 2015 10:41am | Edited 10:53am
Quoting Jason Rogers
{quote} Trading Station desktop does store data locally for all non-tick timeframes, albeit not in readable format. Once it is downloaded, Trading Station won't download the same data again. Anything you download from the Historical Data Downloader is available with Marketscope. The HDD gives you the ease of mass exporting the data which you can then use for back-testing and importing into other programs. If you want to see a specific point of interest on a historical basis, I would recommend manually setting the data range when creating the chart....
Jason, about an hour ago I switched to m1 chart in usd/jpy, in order to see price action at certain zone, then I switched back to m30.

After reading your reply, I switched again to m1 and then tried to scroll back to the same zone. Well, it is downloading data again. I can tell, because I'm having problems with my ISP and sometimes it gets annoying how slow it downloads data. At this very moment my m1 chart is still trying to download data and so far it only shows 1003 bars. If data were stored locally then it should be showing every single candlestick it showed me an hour ago.

Edit: correction, it should be showing 14940 already downloaded candlesticks and 60 newly downloaded.
  • #7,158
  • Feb 19, 2015 12:49pm Feb 19, 2015 12:49pm
Quoting Jason Rogers
{quote} Hi Heph, I'm glad to hear that you made profits scalping on your account. However, you mentioned that your MT4 platform froze before the FOMC announcement. Keep in mind that the frequency with which prices update during a news event can be many times greater than at other times. (You can confirm this by viewing the tick volume during the time in question, since that will count the number of price updates for each candle.) More price updates mean more calculations that have to be performed on each chart indicator/EA that you are running....
thanks, i didn't know that. i had multiple charts open and many of loaded with heavy-weight indicators!
  • #7,159
  • Feb 19, 2015 4:07pm Feb 19, 2015 4:07pm
I used many brokers on my past 13 years of Forex trading and I must say FXCM still has the best platform and service out there, plus great customer support always there when you need it. I wanna thank you Jason for that.

When it comes to SNB debacle, it didnt effect me at all, how? Unlike many gamblers out there most smart and experienced Fx traders knew it was just about to happen, it wasnt if but when. So people who complain they lost money because of their own idiocy nothing to do with the broker.So when you make money you dont share your gains with your broker but when you lose you want your broker to pick up the tab, yea sure.
And keep in mind only reason some of the other brokers weren't teffected on this, Because they aretrading AGAINST YOU. So only time they make money is when YOU LOSE. People need to wake up and take some responsibility.

I only use non-trading desk broker ( I dont want my broker to trade against my positions, too much conflict of interest ) plus FXCM still has the best spreads out there and I would only use a U.S. broker because they are highly regulated and it comes with peace of mind that my money is safe unlike some bucket shop brokers in mambo jambo countries.

People think trading is mostly luck driven, IT IS NOT.
It is about doing your homework and sticking with it.
  • #7,160
  • Edited 6:12pm Feb 19, 2015 5:56pm | Edited 6:12pm
Quoting ExpertFxMan
I used many brokers on my past 13 years of Forex trading and I must say FXCM still has the best platform and service out there, plus great customer support always there when you need it. I wanna thank you Jason for that. When it comes to SNB debacle, it didnt effect me at all, how? Unlike many gamblers out there most smart and experienced Fx traders knew it was just about to happen, it wasnt if but when. So people who complain they lost money because of their own idiocy nothing to do with the broker.So when you make money you dont share your gains...
You sound a lot like representative of FXCM but does not really matter. Let me go over some of the things you said.

"Unlike many gamblers out there most smart and experienced Fx traders knew it was just about to happen, it wasnt if but when. So people who complain they lost money because of their own idiocy nothing to do with the broker.So when you make money you dont share your gains with your broker but when you lose you want your broker to pick up the tab, yea sure. " THe irony here is unbelievable. You do realize that FXCM are using FORCE MAJEURE (unforeseeable event) to go after clients. So, if FXCM did not see it coming, it is their own "idiocy" (your word) that almost bankrupt them. Obviously, they are not "smart and experienced" so why would any trader want to trade with an idiot broker?

"And keep in mind only reason some of the other brokers weren't teffected on this, Because they aretrading AGAINST YOU. So only time they make money is when YOU LOSE" If i lose money on a trade, does it really matter who got it? If it is my broker or another entity, it's the same thing for me-I lost x amount of money. Now, if the broker is trying to spike prices to trigger your stop or all the other BS we have heard about, it is reproachable behavior and everybody should stay away. But just because market maker is on the other side of the trade does not mean they are less honest. Some NDD are atrocious, too but these days the situation is better than it used to be IMO. Now we have all these forums where people can share their experiences and warn other traders so brokers are more careful though we still have a lot of BS going around. For the most part though, I blame NFA for not allowing US residents to trade abroad thus having more competition and access to reputable brokers (MM or NDD).

" People need to wake up and take some responsibility" FXCM needs to take responsibily, too. Advertising left and right "no debit balance" policy and then hiding behind some Force Majeure when in your own words SNB's decision was a matter of 'when, not if' is repulsive. And the majority of people you are talking about IMO had issue with the negative balances being pursued and did not complain about losing all their deposited money. So, most of them indeed took responsibity- LOST ALL OF THEIR MONEY and did not whine about it but did not want to pay some more as FXCM had repeatedly said "trust us, no negative balances" here.

"FXCM still has the best spreads out there ". Can't deny that, they are pretty good. Hopefully, they pull out of this mess because the other US brokers' spreads are somewhat laughable (e.g. gbp/nzd, gbp/cad, nzd/cad)

" only use a U.S. broker because they are highly regulated and it comes with peace of mind that my money is safe unlike some bucket shop brokers in mambo jambo countries." Again, NFA prohibiting US traders from trading abroad limits competition and we are left with few brokers to choose from. And our accounts are not segregated. Not that segregated accounts are bullet proof (negative balances can leave a big hole so even if the broker does not touch the money you may not still get it all) but it is silly not to have that. NFA is abominable.
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