Ah, ok. Sounded to me like you were pissed (and not in the English sense). I know jack about how they fill orders, but it seems to me they just collect all the orders and execute them the second the market opens. *shrug*. My order has always been filled.
in a nut shell here how it works The system most times is on auto. Which means their net exposures at any given time are automatically cover with one of their banks at the best price. Each one of their banks quotes them about a 2 point spread but not the same 2 points one may be at 1/3 another at 2/4 another at 0/2, if they are short their system will hit the 2 price and cover their exposures. They also skew things if their customers are hitting the offer because the market is moving up. Their prices will be higher then the market. example if the mkt is 2/4 and moving higher they maybe at 4/6. They have no ability to cover anything between 5pm fri and 3pm sun aprox. So if a bunch of people yesterday hit their bid and they were long, the first chance to cover those transaction would have been at a loss. I think few people knew what was going to happen yesterday. This is my post from Sat http://www.elitetrader.com/vb/showthread.php?s=&threadid=48808&perpage=6&pagenumber=3
Maybe the risk is covered by the ten pip weekend spreads. Also check out their spreadstatistics from yesterday: http://fxtrade.oanda.com/resources/spreadstats/spreadsminmax.shtml
Yup we had a 50 point spread with EURUSD at one point... I'm buying EURUSD now circa 1.2130 - looking for a move to 1.23-24. If this fails then guess we are back to 1.20.
I've closed my short at 1.2130 as it rejected off that line. 60 pips, not bad. Now flat. Still long pretty heavy in GBP, though. And added to it.
Welcome back from your Greek hiatus. Also looking for GBPUSD to move up - maybe to 85. (If current support holds) I'll be looking for a point to re -establish shorts although could be a couple of weeks if things pan out as planned.
Thanks, CS. I'll let you guys know when pics are on my site I'm holding GBP because I believe the BoE is inching up to another rate hike soon - and whether or not that's true, the perception that it is will cause the market to buy GBP. The other reason is that it is the UNEuro. Meaning it's not the Dollar, which everyone is worried about (see CA problem) and not the Euro. Sterling is everyone's fav under these circumstances. I'm long at 1.8250ish.
I would appreciate some feedback from the FX experts: about how capital flows between currencies should/would affect assets (bonds, stocks, RE etc) denominated in those currencies. Not FX-specific so I posted it under: http://www.elitetrader.com/vb/showthread.php?s=&threadid=51198
Well yesterday was interesting - I was stopped out three times trying to get in long GBPUSD and EURUSD - everntually did and expecting a decent move up till the FED next week and possibly till NFP. Market is quite unpredictable at the moment. Lets hope for more hawkish BOE minutes....