This happened this morning I just want some opinions/advice if what he is saying has any truth because he is saying the bid/ask was 86.034/86.121 which means a spread of 8.7 pips, I find that hard to believe with the USD/JPY. If anyone knows anyways to check bid/ask prices please feel free to share. It may also help anyone in the future who recieves a similar response from there broker.(email below) On Fri, Aug 6, 2010 at 3:52 PM, Dispute <dispute@alpari-us.com> wrote: Dearxxxxxxx, After review of your dispute for ticket 1683423 we have come to a conclusion. Please remember that the charts are indicative of the bid price. When you are in a sell position you must close the position by buying on the ask price. The difference between the bid/ask is the spread. During the time of execution there was major US news coming out, Non-Farm Payrolls. We have floating spreads and during times of high volatility the spreads will reflect the market conditions. Please take into account the news and the risk you take trading during times of news. When your ticket was closed due to your stop loss being executed the USDJPY was trading at 86.034/86.121 (bid/ask). We apologize for e-mailing instead of calling but wanted to ensure you received a response in as timely a manor as possible. In conclusion we have determined that ticket 1683423 is a valid ticket and was properly executed. If you have any additional questions please do not hesitate to contact us. Best regards, Compliance Department Alpari (US), LLC NFA ID: 0379678 14 Wall Street, Suite 5H New York, NY 10005 Tel: +1 646.825.5760 or 1.877.ALPARI 1 (toll-free) Fax: +1 646.825.5761 Dispute@alpari-us.com www.alpari-us.com From: dispute@alpari-us.com [mailto:dispute@alpari-us.com] Sent: Friday, August 06, 2010 10:49 AM To: dispute@alpari-us.com Subject: Customer dispute received for 205404 Account Name: xxxxxx Account Number: xxxxxx Email Address: xxxxxx@gmail.com Order/Ticket Number: 1683423/ Description of dispute: Hello, I placed a .05 usd/jpy sell order at 85.861 this morning 7:53am EST with a stoploss of 86.10 and take profit of 85.500. I came into work to check my account and saw I had been stopped out before my stoploss of 86.10. This is an issue becuase I was erroneously exited from a trade that hit my take profit of 85.5. I have checked several different charts and prices and have found that usd/jpy did not hit 86.10 after my trade. I would not file this dispute if I felt it wasnt a legitamite claim if you could contact me by phone I would prefer that method of communication I XXXX out my personal information
If this is a stupid question and I shouldnt even bother let me know becuase I see people viewing the post but none responding.
It depends what time you've been stopped out. During the 1 min before and after the release of the numbers a spread 8/9 pips could happen.
Is it an ECN? Yeah, are you just worried about the spread? It could easily be possible because there is absolutely no liquidity at least for the few ms that the computers are deciding on what the fuck was just reported.
I sold a .05 lot of USD/JPY at 85.86 with a stoploss of 86.10 and a take profit of 85.5, After the NFP-Unemployment report the USD/JPY was trading well below my take profit of 85.5. I checked my account online from work to see that I had been exited from the trade before the pair made its big move down. I looked on various sites to see if price touched my Stop loss of 86.10 but the closest I found was 86.07 So l believe I was erroneously exited from the trade therefore missing out on a profit opportunity and losing money(not that much but thats not the point). Ive been comunicating with an ALPARI dispute rep and the response he gave me when I explained the situation was. **** After review of your dispute for ticket 1683423 we have come to a conclusion. Please remember that the charts are indicative of the bid price. When you are in a sell position you must close the position by buying on the ask price. The difference between the bid/ask is the spread. During the time of execution there was major US news coming out, Non-Farm Payrolls. We have floating spreads and during times of high volatility the spreads will reflect the market conditions. Please take into account the news and the risk you take trading during times of news. When your ticket was closed due to your stop loss being executed the USDJPY was trading at 86.034/86.121 (bid/ask). We apologize for e-mailing instead of calling but wanted to ensure you received a response in as timely a manor as possible. In conclusion we have determined that ticket 1683423 is a valid ticket and was properly executed.**** 1.) It doesnt make sense that there would be an 8.7 pip spread on such a liquid currency pair. (86.034/86.121) 2.) How can I check the bid ask spreads to find out if what he is telling me is true. 3.)Any advice
OK, I see. Yeah, this is a good lesson to never play around with FX when NFP / Fin Min Khan farts because you are going to get fucked x1000 more than you would otherwise. I've lost plenty of money in FX to prove that haha. So in the end, I would really only trade the futures contracts if possible. I know the cost of entering the market is exponentially higher of course. You will get fucked exponentially less though. Just chalk it up to experience brother.
Youre right its part of the game, I gotta go through the sharks in FX but I think once I can trade FX consistantly profiting then I will be able to bring that skill to E-minis, Options, Futures, Equites with less of that explosive volitility. In the long run Ill make more than what I might lose due to the learning curve, plus I like the idea of group trading to create situations.
MB-Trading high at NFP was 86.06'4 bid / 86.09'7 ask (so 0.3 pip below your stop). Oanda's high was was at 86.01'5 / 86.11'5 (1.5 pip above). Alpari apparently at 86.03'4 / 86.12'1 If you compare the midprice, its 1.6 pip difference between the highest and the lowest. Not really much, during a NFP figure in an otc market, in my opinion.. BTW, yen future on cme traded as high as 86.13 (when you inverse the low). If you subtract the carry (about 2.5 points according to the CME data site) you would have still got stopped out in the future too. Could you please at least check the numbers before starting such threads?