New York, November 16, 2009âFXCM LLC (www.fxcm.com) is re-introducing a great feature to the FXCM Trading Station: Stops and Limits. FXCM has created a new set of stop orders and limit orders that are compliant with the FIFO rules mandated in 2009. Stop orders and limit orders are some of the most popular tools a trader has to manage risk. FXCM has created a short video to educate FXCM LLC clients on how to use these new stop and limit orders. http://forex.na6.acrobat.com/p39288055/ Traders with FXCM LLC accounts based in the United States can now place stops on all positions in any one currency pair. The new stops and limits will apply to every open position in the currency pair. FXCM calls these new orders ânet stop ordersâ and ânet limit ordersâ because they apply to the total positions, or ânetâ positions in that pair. Since net stops and net limits apply to all positions in one currency pair, traders now set them in the âSummaryâ window of the trading station. The âSummaryâ window shows traders all the positions they currently have open in each currency pair. FXCM LLC clients will notice that there is now a new Stop column and a new Limit column at the far right side of the âSummaryâ window. FXCM hopes traders will find these new features useful in their trading, and FXCM will continue to work to improve their abilities as a trader. For more information on net stop orders and net limit orders, go to the FAQ here: http://forexforums.dailyfx.com/fxcm-trading-station-update-nov-13/ To open a demo account to test the new net stop orders and net limit orders, click here: http://www.fxcm.com/open-free-100k.jsp Note: All FXCM U.S. based clients with FXCM LTD (FXCM UK) accounts will not be impacted. FXCM LTD clients will continue to place stop and limit orders on individual positions. FXCM Holdings LLC Facts As of June 2009 ⢠FXCM Holdings LLC has over $100 million in capital ⢠More than 150,000 live accounts are traded on FXCM trading platforms ⢠An average of $365 billion in notional volume is traded each month on FXCM trading platforms ⢠More than $600 million in customer funds trading on platforms offered by FXCM Risk Disclaimer: Without proper risk management, a high degree of leverage can lead to large losses as well as gains. Please note that all other FXCM accounts have different features and this press release only applies to FXCM LLC U.S. based clients
An improvement on none at all, but it looks like it's still too inflexible, for example..... Trade 1 - Long 10k Trade 2 - Long 20k Trade 3 - Long 40k On your platform I have to close Trade 1 first, then 2, then 3. On other NFA-regulated broker's platforms I can close out trades in any order I like. ps your video tutorial with the patronizing voiceover cut short at the end, I guess we should be thankful for that at least!
They've been out since the Ark on pretty much every platform I hear you say.....ah but these aren't just ordinary OCO stops and limits, these are new *net* stop and limit orders!! WOW! What makes me laugh is the guy (or gal) who thought this up probably gets paid 100's of thousands of dollars every year!
lol wow you guys are ruthless. Here's what I don't get. I can already close out my net position with an entry order like so... Long 10k Long 30k Entry: Sell 40k How is this new option an improvement?
OCO I guess. It's ok being ruthless, he's an FXCM rep, they have built-in immunity to......well pretty much everything!
CT-Brother, I don't know how you do it on Oanda! This is nothing revolutionary, it is basically a spam message to try to get those FxPro accounts in limbo.
The improvement is being able to set the stop/limit order through the Summary window rather than having to create OCO entry orders, and/or update the OCO entry order amount every time your net position size changes.