oic So for single order-positions, you're good But when you start building positions by scaling in several times, then you are not allowed to do auto-stop loss/profit-limit orders?
according to FXCM, there will no longer be any otion of automatic stop loss and limit orders. You wil need mannually to set an oco stop and limit after you open a position. Also, if there is a margin call and your positions are closed, your oco order stays live, so you may be put into an unintended open position. An untenable situation, if you ask me.
What other firms are doing this because so far this seems to be something that FXCM is doing and not the other FDM's
So you can still have automatic stop-loss/limit orders on each of your individual trades But it just has to be done manually versus the automatic way it is right now? Sucks but maybe not worth switching to the uk office then Agree???
I just called forex.com, and they say they will still have auto stop loss and limits available, but that they will be executed FIFO, i.e. applied to the whole position if the position was scaled into.
So basically this is much to do about nothing. Seriously, everybody should focus on the "how to" of trading first before they start crying about their "liberties" being taken away from them.
did not trade today...still very happy on the 2 day 100 pip in total GBP/USD trades...how bout everyone else?
You could have a look at the GBP/JPY as well. This is a killer day ranger. The pound Yen is a real bitch though, be very carefull b4 jumping in.
thanks a lot...I've looked at the GBP/JPY before but the spread is really hard for my to digest...I trade the GBP/USD at a 2-3 pip spread usually...last night, was looking at GBP/USD...looked real bearish...proved out to be and tanked overnight...would have been a great short trade. Oh well, I am flat and looking forward to researching the GBP/USD today and this weekend...might really totally focus in on this GBP/USD...does anyone else primarily trade one cross solely?