Gold price spike from 1310 to 34 in one minute? | Metals Mine

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Gold price spike from 1310 to 34 in one minute?

  • #1
  • First Post: Jun 2, 2019 7:48pm Jun 2, 2019 7:48pm
Obviously gold didn't drop from 1310 to 34 in just a few minutes. I don't see this spike anywhere else.
However it stopped out all my trades, wiped out my account, and left me with a sizeable debt. Stops were in place.

I suspect this was a personal attack from my broker to get me to go away after making such large profits in recent months. Am I just being paranoid?
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  • #2
  • Jun 2, 2019 7:55pm Jun 2, 2019 7:55pm
Hmm, they say it was a 'bad tick' and it's going through a 'correction process'. I guess we'll see.
  • #3
  • Jun 3, 2019 10:51am Jun 3, 2019 10:51am
I asked if this is a common occurrence. They said, "this has never happened before."

This is what my equity curve looked like before they tagged me. No matter, I'm going to get it all back and then some...unless there's another 'bad tick'.

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  • #4
  • Jun 3, 2019 11:24am Jun 3, 2019 11:24am
They're trying to slow me down. Today's drop in GN would have been a nice juicy win, probably doubling the account (opened at Christmas). That's an average of 16+% per month.

Not too shabby, but within the bounds of safety. Let's see what happens when I ramp up.

I expect GN to get near 1.88 btw.
  • #5
  • Jun 3, 2019 11:25am Jun 3, 2019 11:25am
Suck a huge forum and nobody offers to help, this is sad to say the least.. firstly please give me the exact time and date that this happened so we can compare charts, then please tell me the broker, once youve done that read a thread i did 2015 heres the link https://www.forexfactory.com/showthread.php?t=554490
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #6
  • Jun 3, 2019 11:27am Jun 3, 2019 11:27am
Heres my gold chart for this week.. seems to me that broker has manipulated the charts in order to screw you over and if they have i can give you steps to follow inorder to get justice.
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I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #7
  • Jun 3, 2019 11:29am Jun 3, 2019 11:29am
Yeah this spike is impossible... they fucked you over bro... hopefully more people in the community can chip in and we can all help you.. i think as a community we can effect the brokers business drastically if we all help.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #9
  • Jun 3, 2019 11:42am Jun 3, 2019 11:42am
Quoting Meh-leh
{quote} DOW Jones 12000 (2022) https://dangerousmother.com All you need to Know. U.S President "Donald Trump" has hinted at Iran in his post on the internet. The 100% safe website has many informations for world events, financial markets and much more..
Your post is irelevant to the thread, please remove it.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #10
  • Jun 3, 2019 12:09pm Jun 3, 2019 12:09pm
Thanks for the offer, Soros. They have restored the chart to normalcy and have said they will fix the affected accounts. However I'm standing still while they work on it. The timing seems suspect at least as I was ahead on a few trades.

What I want to know now is 'what is a bad tick'? How do they happen at all?
  • #11
  • Jun 3, 2019 12:24pm Jun 3, 2019 12:24pm
Quoting clemmo17
Thanks for the offer, Soros. They have restored the chart to normalcy and have said they will fix the affected accounts. However I'm standing still while they work on it. The timing seems suspect at least as I was ahead on a few trades. What I want to know now is 'what is a bad tick'? How do they happen at all?

I have never heard the term bad tick before.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #12
  • Jun 3, 2019 12:25pm Jun 3, 2019 12:25pm
Im glad you came right..happy trading!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #13
  • Jun 3, 2019 1:09pm Jun 3, 2019 1:09pm
Quoting clemmo17
Thanks for the offer, Soros. They have restored the chart to normalcy and have said they will fix the affected accounts. However I'm standing still while they work on it. The timing seems suspect at least as I was ahead on a few trades. What I want to know now is 'what is a bad tick'? How do they happen at all?
Bad tick essentially means there was some freak occurrence in their price discovery logic where none of the safety nets worked and they send you an complete off market rate. It’s unfortunately not that uncommon even in interbank markets you have it every now and then. It will be fixed for sure (even though it shouldn’t take that long). Did you have orders in place that would have been filled if you had equity in your account and that would have led to a profit? If yes then ask them to add those positions to your account the same way they would have without the off market price wiping out your balance.
  • #14
  • Jun 3, 2019 1:51pm Jun 3, 2019 1:51pm
Can you tell the broker name?
  • #15
  • Jun 3, 2019 3:01pm Jun 3, 2019 3:01pm
Sent in a PM. If anyone else is curious they can PM me.
  • #16
  • Jun 3, 2019 3:02pm Jun 3, 2019 3:02pm
Quoting clemmo17
Obviously gold didn't drop from 1310 to 34 in just a few minutes. I don't see this spike anywhere else. However it stopped out all my trades, wiped out my account, and left me with a sizeable debt. Stops were in place. I suspect this was a personal attack from my broker to get me to go away after making such large profits in recent months. Am I just being paranoid? {image}
Let me ask, who is broker? By "large profits: do mean hundreds, thousands, hundreds of thousands? More information would help. A reputable broker will not risk they whole company to steal a few hundred or even a few thousand from 1 client. Unless you are using a fake broker of which there are many , many of those.

- Ric
Be humble or get humbled
  • #17
  • Jun 3, 2019 3:05pm Jun 3, 2019 3:05pm
Quoting clemmo17
Sent in a PM. If anyone else is curious they can PM me.
Just out them, it should not be a secret. What broker is it? I should not have to PM you if you want help.

- Ric
Be humble or get humbled
  • #18
  • Jun 3, 2019 4:55pm Jun 3, 2019 4:55pm
There's a good reason not to publicly embarrass them (and risk reprisals) especially if this was not intentional and is, as ProjectM says, a common problem. It is only on the order of thousands, not hundreds of thousands. The money situation has been rectified and the only damage is that my history had to be reset so I cannot use the same account for signals.

The only help I need now is advice about how to avoid this happening again. Obviously some trust has been lost and I won't keep large sums with this broker, but so far I can only assume they are honest and this really was an accident? Who knows.

As for reputability I will say this broker has some of the highest scores on FPA, but is regulated 'offshore' so I guess it depends on your POV.
  • #19
  • Jun 3, 2019 6:03pm Jun 3, 2019 6:03pm
Hi can someone please react?
I am looking for a broker where I can trade:
1) exotic pairs like: KWD/USD - BRLUSD etc
2) leverage 200-400
3) office London/Zurich/Geneva
4) Min principal: 1000€ - 1K€
Thanks in advance
Harry
A new consciousness for Humanity?
Being now: Are WE a Holy Grail? Return Today: na
  • #20
  • Jun 4, 2019 1:20am Jun 4, 2019 1:20am
Hi Clemmo,

Good that you got your money back. But this kind of situations is a big blow to broker reliability. So basic knowledge on liquidity providers tells that you can't have such big spike when the broker pulls liquidity from many liquidity profiders.

I think you divide your money with different brokers to lower your risk of this kind of situations...

Cheers.
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