I must say this is the first time ive seen this happen live. Could have happened before when i was not looking but to see it happen right before my eyes was amazing.
Had a few trades open both long and short (Hedging) as it were on the trend of a practice account i have fro testing strategies and or ideas.
The pair was the AUDJPY and was doing ok. Then the news came out this morning price jumped and i went to look at my charts and to my surprise all my TP targets had moved to pretty much where price was and within seconds closed all the orders. Now i must remind you this is a demo account with about $3k in it testing just with micro lots 0.01. So there was absolutely no issue with margin or anything else. The TP points set must have been at least another 30 pips away even from the top of the price spike.
Ok, perhaps spreads jumped 30 pips? thats a huge jump but even with that in mind, why would my physical visible TP points move on the chart? Not to mention the fact that some of these TP points where at impossible levels. For example (Shown Below) these two where sell orders and the TP levels at close where higher then the sell price. And you can see it was closed at TP.
So yeah, just a good example of how brokers screw you. i mean if this was a real account with a real broker somewhere with real regulation i could make a case against them but im surprised as its a demo account. I thought brokers used demo accounts to lie about how great their systems and trading forex is, not to show you how much of a scam they are!?
Thankfully this is not my real broker i use, i just use their demo account as they dont have a limit on how long you can use the demo accounts for.
Had a few trades open both long and short (Hedging) as it were on the trend of a practice account i have fro testing strategies and or ideas.
The pair was the AUDJPY and was doing ok. Then the news came out this morning price jumped and i went to look at my charts and to my surprise all my TP targets had moved to pretty much where price was and within seconds closed all the orders. Now i must remind you this is a demo account with about $3k in it testing just with micro lots 0.01. So there was absolutely no issue with margin or anything else. The TP points set must have been at least another 30 pips away even from the top of the price spike.
Ok, perhaps spreads jumped 30 pips? thats a huge jump but even with that in mind, why would my physical visible TP points move on the chart? Not to mention the fact that some of these TP points where at impossible levels. For example (Shown Below) these two where sell orders and the TP levels at close where higher then the sell price. And you can see it was closed at TP.
So yeah, just a good example of how brokers screw you. i mean if this was a real account with a real broker somewhere with real regulation i could make a case against them but im surprised as its a demo account. I thought brokers used demo accounts to lie about how great their systems and trading forex is, not to show you how much of a scam they are!?
Thankfully this is not my real broker i use, i just use their demo account as they dont have a limit on how long you can use the demo accounts for.
