ECN triggered 100 pips away from limit...help

Discussion in 'Forex Brokers' started by hanzahar, Apr 3, 2007.

  1. hi,

    i'm with efxgroup just want to ask opinions

    last week i intended to had a buy limit via gbpjpy at 231.87 but accidently key-in 232.87

    ok it's a human error but the thing is my order was triggered at 232.43

    is this possible?

    because at that time the price is around 232.1X - 232.2X

    i've tried with other ECNs and when i tried to make a limit order (buy) above the best ASK a notification of error is shown...

    i'm so mad because i was triggered with -40+ pips

    furthermore after asking justin if i can close that position he says just leave it...

    since i'm at 8+ GMT i went to bed because it's late like 2-3am

    and the next day i open the platform it's already -100pips and goes till -200pips++....

    and tha......blown my account...:mad:

    i'm so frustrated...

    just want opinion whether if this is a software flaw

    thanks guys :(
     
  2. Moe27

    Moe27

    not good mm if you blown your account on one trade.
     
  3. a scalper aim little pips with huge volume...

    scalper dont have more then 10pips stoploss...

    sorry my methodology is different...

    anyone can give opinions? :(
     
  4. Pippi436

    Pippi436

    When i was looking at the efx feed, i noticed some bad ticks comeing thru, only 1 tick at a time, up to 100 pip off the marketaction. Happend several times a day, on demo tho.

    I could understand that if such bad ticks trigger stops, but in no way you should get a fill on a limit-order worse than your limitprice.

    If you can tell me the exact time, fill-price, pair etc. i can look it up. My dataprovider has some tick-history of EFX, if i remember correctly.
     
  5. The ECN should cancel the trade at do it at market price at the time in accordance with the forex association guidelines. Any reputable ECN will do this.

    What I dont understand is say the market was 231.1-231.20 at the time then whatever buy limit order you put in above 231.20 you would/should be filled at the best offer possible -ie 231.20.

    If the market is extremely volatile and you say sell at market then if you get a bad fill of say 30 pips below the real low then that is different and you can't complain. ie just after figures

    Incidentally via an ECN last week i was given at a price in stg yen about 3 yen below the real low. Quite rightly I got immediate notification saying that the trade would be busted and nothing was done.
     
  6. i took this from the backoffice (MBtrading) report - order history

    3/27/2007 9:45:32 AM 0mo0101:05kp GBP/JPY Live: Buy GBP/JPY @232.87 on MBTX

    3/27/2007 9:45:33 AM 0mo0101:05kp GBP/JPY Bought GBP/JPY @ 232.43

    thank you very much :)
     
  7. Pippi436

    Pippi436

    sorry, they only give me the last 4 days of ticks for that contributor.