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GoMarkets Discussion

  • #801
  • Aug 10, 2010 11:04pm Aug 10, 2010 11:04pm
Quoting GoMarkets
Trust me, if I could get the system setup in a way where orders do not get filled on these spikes, then it would be great,
Trust me, what would be Great would be for GoMarkets to eliminate "these" erroneous spikes, not whine about how they are working hard to FIX the resultant trades.

FIX THE Problem.
If GM does not grasp that basic concept and can't identify what the root problem is and then correct that, then they have other more pressing problems to deal with.

jmo.
  • #802
  • Aug 11, 2010 12:10am Aug 11, 2010 12:10am
Quoting tommyd
FIX THE Problem.
If GM does not grasp that basic concept and can't identify what the root problem is and then correct that, then they have other more pressing problems to deal with.

jmo.
We are well aware of the cause of these spikes and are taking action. What people also need to understand is that not every spike is an error and even if a provider sends through a spike, then the only way to avoid it is to have some kind of feed manipulation. We prefer to always give a raw feed.
  • #803
  • Aug 11, 2010 12:10am Aug 11, 2010 12:10am
Quoting waltini1
To Go Markets.

I notice that the maximum deposit for your L plate accounts is set at $500. Is this set in stone or is there any chance of this amount being increased in the future?

Some strategies suit smaller lots but the $500 limit is not helping.
We actually increased the maximum balance recently. You can now have an L-plate up to $1,000.
  • #804
  • Aug 11, 2010 12:12am Aug 11, 2010 12:12am
Quoting scottyfromau
I've compared Go markets NZDUSD price spike to forex.com's graph. Forex.com has no price spike.
Can I ask which spike? I am sure it is one of the ones previously addressed. If so, all trades were fixed up from the false spike. As we always do.
  • #805
  • Aug 11, 2010 1:26am Aug 11, 2010 1:26am
GoMarkets,

Just a note to say thank you for your being here, for your willingness to engage and answer questions and address issues (many broker/dealers will not do that) and for your patience and even-handedness in dealing with some posters who are less than fully mature in some of their comments.

I do think that some of the more responsible forex broker firms catch a lot of flak and frustration from retail traders who have been so severely mistreated by other, less responsible companies. That is unfortunate as well as being somewhat understandable.

Please do continue to monitor this forum and realize that there are a lot of others here who quietly appreciate your efforts to address issues that are brought up and are real.

I, for one, have no problem being quick to let you know when I feel you have an issue which you need to address. But I think it is always a better policy to address these problems initially in private with your company directly, either by phone, private direct email or even through the FF PM feature here on this site.

If and when that type of approach fails to produce a positive outcome and/or solution, then a more public approach such as this forum may be appropriate.

Generally, in life and in dealing with other human beings, it is best to chastise in private and praise in public. The machinery of human intercourse works much better when conducted in that fashion. Particularly in an electronic written format such as this where the lack of direct physical observation is not possible.

It is virtually impossible to catch the subtle nuances normally conveyed in a conversation which are absent in this communication form. Emoticons are a poor substitute for being able to see my face or hear my voice as I am saying what is being said. It is very easy to be misunderstood here.

I realize that your company is not perfect, but I do think that we need to give some credit where it is due. The fact is, in an imperfect retail forex world, there is an awful lot about GoMarkets that is right. I think you need to hear that as well.

This is written in appreciation for what has already been apparent in your efforts to communicate with your customers and to address issues as they arise.

Thank you.
Rich
  • #806
  • Edited 6:53am Aug 11, 2010 6:48am | Edited 6:53am
Quoting GoMarkets
To be honest, erroneous spikes which are well away from the market can be caused by something other than a lack of liquidity. Obviously lower liquidity will cause the wide spreads, but these can be exacerbated by a contributor individually having low individually low liquidity, which can mean the price they put through can be a way off the market. Without going into too much detail (because this could go on for ages) imagine that the price is 1.5020/1.5025 and one contributor has a fat finger error or gets an order go through at 1.5096 then suddenly...
Re: Spikes, e.g. 1.5020/96 quote, instead of 1.5020/25 due to a so-called "fat finger" of feed-provider (interbank market maker).

If there are several contributors, wouldn't such an erroneous quote be filtered out as an outlier, and GoMarket's client market order matched with the closest bid/offer from remaining feed providers? Unless there is only one contributor, or perhaps all contributors spike spreads (or misquote) at the same time, a "fat-finger" from only one of them shouldn't cause an issue, should it?
  • #807
  • Aug 11, 2010 12:09pm Aug 11, 2010 12:09pm
Quoting GoMarkets
Can I ask which spike? I am sure it is one of the ones previously addressed. If so, all trades were fixed up from the false spike. As we always do.
*Shakes head.

If you just looked at the NZD/USD hourly graph you'd see it. ITS HUGE. 26th of July 2010 at 3am. It's HUNDREDS of pips long.

In all my studies of forex I've never seen that.
  • #808
  • Aug 11, 2010 1:45pm Aug 11, 2010 1:45pm
Need fixed only dc1 server,,,.....no dc2, no dc3, no dc4, no dc5....

always dc1 server.

i need help you....

thankyou
  • #809
  • Aug 11, 2010 4:43pm Aug 11, 2010 4:43pm
Quoting scottyfromau
*Shakes head.

If you just looked at the NZD/USD hourly graph you'd see it. ITS HUGE. 26th of July 2010 at 3am. It's HUNDREDS of pips long.

In all my studies of forex I've never seen that.
Possibly there was more than one spike and in order to explain it he needed to know which one. At least that seemed to be the tone of Chris's reply.
I'm surprised you've never seen similar spikes. I've seen plenty--all brokers suffer them at one time or another and they do what Go does. That is, reverse any trades that were affected.

As far as these spikes being stop-hunts, what would be the point? Go has been reversing them any way.
  • #810
  • Aug 11, 2010 6:20pm Aug 11, 2010 6:20pm
Quoting scottyfromau
*Shakes head.

If you just looked at the NZD/USD hourly graph you'd see it. ITS HUGE. 26th of July 2010 at 3am. It's HUNDREDS of pips long.

In all my studies of forex I've never seen that.
Yes, this spike was obviously a wrong price, and as such was reversed. It has also been deleted from the server, although doing that cant remove them from your end as your platform has laready downloaded it.

I am surprised that you have never seen such a spike if you have done that much studying of forex - unfortunately they can happen often with any broker as someone else has pointed out. It is unavoidable with a raw feed.
  • #811
  • Aug 11, 2010 6:20pm Aug 11, 2010 6:20pm
Quoting javicash
Need fixed only dc1 server,,,.....no dc2, no dc3, no dc4, no dc5....

always dc1 server.

i need help you....

thankyou
I am sorry, but I do not really understand exactly what you are asking. Can you clarify or contact me directly?
  • #812
  • Aug 12, 2010 2:28am Aug 12, 2010 2:28am
Just thought you would all like to know that we will be having a DEMO platform of MetaTrader5 available within the next couple of weeks. It is configured with our price feed and setup, not the generic MetaQuotes feed.

It is important to note that we will not be replacing MT4 with MT5, certainly in the short to medium term, but if and when we choose to go live with it based on feedback then it will run as an alternative to MT4, NOT a replacement.

We will send out the details to our clients once it has become available.
  • #813
  • Aug 12, 2010 8:04am Aug 12, 2010 8:04am
I am really perplexed that price spikes happen at all. Avoidance of price feed manipulation by GoMarkets doesn't explain it.

If GoMarkets have several price feed contributors, spikes should have no place. Because an outlier quote would be filtered out, and clients orders matched with the best and closest quote from remaining feed providers.

So what is the real nature of these price spikes? Can anyone explain, please?
  • #814
  • Aug 12, 2010 8:36am Aug 12, 2010 8:36am
Quoting Zrk
I am really perplexed that price spikes happen at all. Avoidance of price feed manipulation by GoMarkets doesn't explain it.

If GoMarkets have several price feed contributors, spikes should have no place. Because an outlier quote would be filtered out, and clients orders matched with the best and closest quote from remaining feed providers.

So what is the real nature of these price spikes? Can anyone explain, please?
I have seen spikes on many brokers. They happen, its just how the broker deals with them that makes the difference.

cheers
  • #815
  • Aug 12, 2010 12:45pm Aug 12, 2010 12:45pm
Quoting GoMarkets
I am sorry, but I do not really understand exactly what you are asking. Can you clarify or contact me directly?
not change, always dc1....night change asia session dc2, 0 dc4

in the morning dc3 0 dc5 ,..

to me is better always DC1....always fixed

I hope your answer
  • #816
  • Aug 12, 2010 6:34pm Aug 12, 2010 6:34pm
Quoting Zrk
I am really perplexed that price spikes happen at all. Avoidance of price feed manipulation by GoMarkets doesn't explain it.

If GoMarkets have several price feed contributors, spikes should have no place. Because an outlier quote would be filtered out, and clients orders matched with the best and closest quote from remaining feed providers.

So what is the real nature of these price spikes? Can anyone explain, please?

Our price feed comes from Currenex with additional liquidity plugged in to it from numerous other institutions. The nature of such a price feed is that any time that one of these contributors sends through a bid or ask, it comes through to us and therefore to our platform. This means that if a wrong price is entered by someone at one of those banks, it comes through to you. It is the same principle as when someone puts through a wrong trade/price on the stock market, the price is visible to everyone, bit it is not always correct. There are tools in many platforms including MT4 to filter price feeds, but we do not want to get into filtering and smoothign price feeds. Think of it this way - if we choose to filter out prices that are a certain distance form the market, for example 60 pips and a genuine price hits the market 65 pips away and then goes back and doesnt hit your take profit, then you wouldn't be happy! I would prefer to give a raw price feed which may on occasion have an incorrect price come through than get in a situation where people miss out on genuine prices. Keep in mind that you will never lose out on an incorrect spike with us as your trades will be reversed/put back in the market, or whatever is required to sort your trade out.

This is what people need to be aware of - yes, incorrect spikes may occur from time to time. But a client will never lose out because of it.
  • #817
  • Aug 12, 2010 6:39pm Aug 12, 2010 6:39pm
Quoting javicash
not change, always dc1....night change asia session dc2, 0 dc4

in the morning dc3 0 dc5 ,..

to me is better always DC1....always fixed

I hope your answer
The platform will always connect to the fastest available data centre, which is why it may change from time to time.
  • #818
  • Aug 13, 2010 1:17am Aug 13, 2010 1:17am
Hi Chris,

I have a question with regard to the new servers, reboots etc.

If I have a trade currently in place with a T/P & S/L set, and while the server is rebooting the price moves enough to hit the S/L or T/P. Is the S/L or T/P still triggered or am I at the mercy of the market for a while? ie. Is it my connection to the server or the servers connection to the market (or both) that is being reset.

With the new data centres in place, could they be reset at staggered times so that there is always a connection available?
  • #819
  • Aug 15, 2010 6:37pm Aug 15, 2010 6:37pm
Quoting skoda2008
Hi Chris,

I have a question with regard to the new servers, reboots etc.

If I have a trade currently in place with a T/P & S/L set, and while the server is rebooting the price moves enough to hit the S/L or T/P. Is the S/L or T/P still triggered or am I at the mercy of the market for a while? ie. Is it my connection to the server or the servers connection to the market (or both) that is being reset.

With the new data centres in place, could they be reset at staggered times so that there is always a connection available?

The setup of our MetaTrader (like many others), is a live server (plus a backup obviously) and additional data centres round the world. The live server is the only server that actually takes the trades, and as such it is this server that needs to be online for a trade to go through. Because of this if an order price was reached whilst the server is having its daily restart and by the time it comes back online the criteria cannot be met, it will not go through automatically. However, our policy is such that if you were to call in just after the restart and get us to check your order we can then get it executed at the original requested level. This is only for pending orders already entered onto the server. We can't just go and place brand new trades on expired prices.

With MetaTrader it is impossible to change the procedure for the daily restart other than the time of day at which it happens. We are currently reviewing the time of our restart as we look to do it at the quietest time of day, and with different strategies and daylight saving etc, this can change occasionally.

If we do decide to make any changes we will of course inform all clients before hand.
  • #820
  • Aug 20, 2010 1:36am Aug 20, 2010 1:36am
Just thought I would let you all know that our MetaTrader5 demo will be online next week.
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