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FXCM Discussion

  • #2,761
  • May 16, 2012 6:05am May 16, 2012 6:05am
Quoting titanmelvin
Hi Jason,

Thanks for the info but I wasn't clear enough that I wanted the low for each minute on MT4, for example:

01:40 low is 78.xx
01:41 low is 78.xx
01:47 low is 78.xx

I did contact Programming Services but they replied saying that I needed to make a $5000 deposit to get it for free. Is this a one time deposit or can I make a few deposits amounting to $5000?
Hi Melvin,

Below are two tables. The first table shows the bid price one-minute data for USD/JPY from 01:40 to 01:47 GMT on 10/31/2011. The second table shows the ask price data.

USD/JPY Bid Price Data (GMT)
http://img842.imageshack.us/img842/5...idpricegmt.png

USD/JPY Ask Price Data (GMT)
http://img194.imageshack.us/img194/7...skpricegmt.png

You might like to know that I retrieved the data for the tables above using the Trading Station. From the Marketscope charts on that platform, you can go to File > Create MarketShot and then select the Data Range. After the chart loads, right-click on it, and in the menu that appears select Chart Mode > Table. Note: I changed the time zone on the charts to GMT (aka UTC).

http://img502.imageshack.us/img502/1...ydatarange.png

In regards to getting access to the historical data archives from the Programming Services department, they usually look for a one-time deposit. I'd suggest contacting them at [email protected] to tell them what time frame works best for you to see if they can set that up for you intead.

Jason
  • #2,762
  • May 17, 2012 2:04am May 17, 2012 2:04am
Hi Jason,

i am using FXCM standard account. i would like to know how to check the stop loss and limit which i placed for a trade that has already been closed.

i realised that i can check it in the actions window at the bottom right but it disappeared everytime i close the trading station
  • #2,763
  • May 17, 2012 3:01am May 17, 2012 3:01am
any limitations for scalpers???
  • #2,764
  • May 17, 2012 3:11pm May 17, 2012 3:11pm
ok i know this may be off topic but i use Fx strategy trader and im trying to get more indicators for it specifically and i downloaded TEMA lines and it only downloaded for metatrader 4 and it wouldnt open because of a zipped compressed folder error or sumthing? and i was wondering how i could get acceleration bands, TEMA, and a volume indicator. for tyhe main FXCM download for the one thats not metatrader its just FXCM?.... plz help lol
  • #2,765
  • May 17, 2012 11:06pm May 17, 2012 11:06pm
Quoting tasco
Hi Jason,

i am using FXCM standard account. i would like to know how to check the stop loss and limit which i placed for a trade that has already been closed.

i realised that i can check it in the actions window at the bottom right but it disappeared everytime i close the trading station
Hi Tasco,

If your trade was closed by either the stop or limit order, you will be able to see that closing price recorded in the Trading Station reports. You can click on the Report button of the Trading Station to run a Report for any time frame since your account was opened. In the Condition column of the report you will see the type of order that closed the trade. For example, you will see the letter "S" if the trade was closed by a stop order, and the letter "L" if your trade was closed by a limit order.

That said, if your trade was closed by a stop order, the reports would not save the limit price you had set. If you need to retrieve such information for a particular trade, you can email me at [email protected]

One thing you could do in the future to keep records of all the stops and limits you set is to run a report on the Trading Station right after the trade is opened. You can then save a copy of that report as either a PDF or Excel file on your computer.

I notice this is your first post. Welcome to the forum!

Jason
  • #2,766
  • May 17, 2012 11:14pm May 17, 2012 11:14pm
Quoting Suomi
any limitations for scalpers???
Hi Suomi,

I'm glad you asked. FXCM has no restrictions on scalping. We use a No Dealing Desk forex execution model which means we make money from trading volume so scalpers are some of our best clients. In fact, if you are a high volume trader, you might be interested in our Active Trader program where scalpers can get even tighter spreads.

Jason
  • #2,767
  • May 17, 2012 11:30pm May 17, 2012 11:30pm
Quoting Jakup
ok i know this may be off topic but i use Fx strategy trader and im trying to get more indicators for it specifically and i downloaded TEMA lines and it only downloaded for metatrader 4 and it wouldnt open because of a zipped compressed folder error or sumthing? and i was wondering how i could get acceleration bands, TEMA, and a volume indicator. for tyhe main FXCM download for the one thats not metatrader its just FXCM?.... plz help lol
Hi Jakup,

You've come to the right place. Any question about FXCM is on topic.

I'm not familiar with the particular indicator you mentioned. If you can provide me with the link where you downloaded TEMA lines, I will take a look at how it can be installed for you.

Jason
  • #2,768
  • May 18, 2012 4:15pm May 18, 2012 4:15pm
Quoting sps8
THIS GUYS A BUNCH OF THIEVES,it always hunting for your stoploss,they a requote and big slippage,i lost all my money cus their platform freezing,you can,t close your posithion when you are in profite yoy have to try several times ,to get out of trade,i closed my account with them, AVOID
I agree with you. this broker is only good for swing trading. you don't care about a couple of pips more or less!
  • #2,769
  • May 20, 2012 4:26am May 20, 2012 4:26am
Quoting Jason Rogers
Hi Selgin,
The 5pm closing time is actually an approximation. The quoted hours for the Trading Desk are from Sunday 5:15pm ET to Friday at 4:55pm ET. Orders placed prior may be filled until 5:00pm. Also, liquidity at that time can be very thin which is why you can see spreads widen especially on crosses like EUR/AUD. Trading used to close every Friday at 4:00pm ET, but the hours were extended based on requests from our traders.
Jason
Just as a matter of interest during the day (GMT day) does maximum liquidity occur or are there not really any particular times of the day?
  • #2,770
  • May 20, 2012 6:03am May 20, 2012 6:03am
Quoting The Captain
Like seriously read reviews: http://www.forexpeacearmy.com/public...w/www.fxcm.com

Hey Jason Rogers why don't you have this image at the bottom of your posts?
Interestingly, if you order the Peace Army results by rating, there isn't a single broker with more then 2 stars.

I've been using the demo account and I'm about to go with FXCM. If they do in fact rip me off via stop hunting and slippage then that will be a great shame because as far as I'm concerned Trading Station is by far the best (non super-duper professional) standalone platform out there.

I hope it goes well.
  • #2,771
  • May 20, 2012 6:17am May 20, 2012 6:17am
Quoting Roseman
Interestingly, if you order the Peace Army results by rating, there isn't a single broker with more then 2 stars.

I've been using the demo account and I'm about to go with FXCM. If they do in fact rip me off via stop hunting and slippage then that will be a great shame because as far as I'm concerned Trading Station is by far the best (non super-duper professional) standalone platform out there.

I hope it goes well.
Mini and Micro account there, 100% straight I've been 0.2pips from my SL on the chart and SL wasn't hit.

SL's aren't guaranteed, so if you hold over news and it jumps 100pips in 1 second odds are that'll bite you , they all do this.

Platform, is really simple to use, I tried Meta 3 and had all kinda weird trades going on.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,772
  • May 20, 2012 8:52am May 20, 2012 8:52am
Quoting Jason Rogers
FXCM has two different price feeds.

For traders unaware of the NDD model in the FX space, there are multiple banks and financial institutions providing liquidity. The best bid and ask is then taken from competing providers and displayed onto the platform. Many times the buy price may be from one provider and the sell price from a different provider. Before passing the price to the trader, FXCM adds a mark-up and this is the exact amount of money FXCM makes per trade. For both prices feeds mentioned above, FXCM can reduce the mark-up and...
This is the crux of an issue that I can't understand. FXCM is a broker and makes a pip or so of money on each and every trade. So then, why would a broker hunt stops. I've read this very accusation many times in this thread and elsewhere, but I don't understand what a broker has to gain in so doing. If I were trading against the broker then yes certainly but I'm not - am I?

Perhaps I'm just too thick and accept things at face value too readily....
  • #2,773
  • May 20, 2012 9:12am May 20, 2012 9:12am
From an investment perspective this might not have been a wasted weekend but I don't see it this way. I've been reading through 6 or 7 brokers policies and pretty tired of it.

How difficult it is to get clear answers on pretty simple questions? I don't want a broker who is taking the counter part of all my trades. How can I trust a broker who makes money when I lose?

It's a disgrace that it's so hard to get relevant information without going to law school. FPA is not much help either. I feel that many comments neg/pos are just fake.

The term "it's a jungle out there" takes a whole new meaning where the Forex broker market is concerned.

Roseman, did you get my second private?
It's my price or no price at all!
  • #2,774
  • May 20, 2012 10:48am May 20, 2012 10:48am
I did, and I don't understand it, unless it works something like this:

1) I place a short
2) FXCM forwards the short to whichever bank is currently quoting the best price and in so doing adds a pip of profit margin for them (no commission)
3) It was Deutsche bank or someone really big and they can see where we all have our safety stops
4) They move the market (somehow) in order to clip our stops and therefore not to have to pay out - on the contrary they earn

Otherwise it would have to be the case that FXCM is not my broker but my counterpart; in which case why do they speak endlessly about orders not being filled due to temporary lack of liquidity from the banks.

Or is it to do with the data feed being manipulated by the banks - who are in league with the brokers - Oh man it's all too much. I wish I understood the mechanism better. One thing's for sure, time and time again strange spikes do occur - but to the pip? What's that all about...

Jason. Question: I am trading against FXCM or not, yes or no?
  • #2,775
  • May 20, 2012 11:04am May 20, 2012 11:04am
No, Roseman, that was not what I meant. I was saying that it would take an institution like (example) the deutsche (whale) bank, to move the market in a particular direction. A broker would never have that kind of power, unless they do something with the software.

How does the whale know where your SL is? Well, because everything we small traders can think of, they can too. So they can interrupt the natural flow of the market long enough to take out your SL.

Best you read up on that and many other interesting things:

http://www.forexpeacearmy.com/forex-...esistance.html
that explains the topic, but if i where you i would go through the whole thing. it's really golden advise: for free :-)
It's my price or no price at all!
  • #2,776
  • May 20, 2012 12:02pm May 20, 2012 12:02pm
I shall read the whole thing with interest, thanks.

If it turns out to be the case that I end up being convinced that our stops aren't safe then that will seriously undermine my confidence....
  • #2,777
  • May 21, 2012 4:56am May 21, 2012 4:56am
Quoting Roseman
I shall read the whole thing with interest, thanks.

If it turns out to be the case that I end up being convinced that our stops aren't safe then that will seriously undermine my confidence....

GOOD example just, GOLD did a SL hunting spike down ( not FXCM doing it ), Low 1588.82, my SL is 1580.80 0.02 and they did name slip into my SL.

There straight these days, 5 years back different story but they where still better than most.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #2,778
  • May 21, 2012 9:03am May 21, 2012 9:03am
I don't know about FXCM, but the banks definitely clear the stops in the FX market. It's not Mr. Newbie's stop on his 1000 $ position that they are exactly hunting, but they are clearing stops at a certain level where they expect bunch of them are resting. Sometimes it can even be fund's stop orders. They do it do gain additional liquidity before reversing price direction.

The FX market is not 100 % random, don't forget who is actually making this market.
  • #2,779
  • May 21, 2012 4:08pm May 21, 2012 4:08pm
Quoting Roseman
Just as a matter of interest during the day (GMT day) does maximum liquidity occur or are there not really any particular times of the day?
Hi Roseman,

The most active time for the forex market overall is when the London and New York sessions overlap from 12:00 to 16:00 GMT. For particular currencies the most active time tends to be the daytime hours in the country. For example, AUD and NZD will be traded more during daytime hours in Australia and New Zealand. That said, the most active time is not necessarily the best time to trade for everyone. Here's an excerpt from DailyFX article called "When is the Best Time of Day to Trade Forex?:

"In looking at the trading records of tens of thousands of FXCM clients, as well as talking with even more traders daily via webinars, email, and Twitter, it quickly becomes apparent that most individual forex traders are what are called 'range traders'. It also becomes apparent that many of them have trouble being successful in forex because they are trading during the wrong time of day. Most forex traders should trade during the late US, Asian or early European trading sessions – essentially 2 PM to 6 AM Eastern Time (New York), which is 7 PM to 11 AM UK time. They should avoid trading during the most active times of the trading day."

By the way, welcome to the forum!

Jason
  • #2,780
  • May 21, 2012 4:14pm May 21, 2012 4:14pm
Quoting Turveyd
I tried Meta 3 and had all kinda weird trades going on.
Hi Turveyd,

You might like to know that we recently upgraded our MT4 platform to eliminate the need for a third-party bridge. In the past, we used a third-party bridge to link to the MT4 platform. This resulted in auto account syncs. Now our MT4 platform integrates seamlessly with our No Dealing Desk forex execution. This means no third-party bridges and no auto account syncs.

Jason
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