Normally, limit orders are higher than the current sell and lower than the current buy........ BUT With FXCM, the limit are the opposite... For example, on the EURJPY...... Sell Buy 120.60 120.62 When I hit my limit create entry order...and I want to sell short, I get Sell 120.59 Why is this backwards???
The reason I was looking into market orders is because recently a lot of my market orders get hung -- in other words, they are not executed immediately and instead of getting out with 50 pips, I can actually get out with 30 pips This is a scam by FXCM When I have a large position, it gets hung But when I fooled around with small positions, this never happened And I tested this out several times So I am looking into a limit order strategy. When I hit Create Limit Entry Order, the rate changes automatically so if I get used to the ebb and flow, my limits can be like market orders due to the immediate execution But the order (as mentioned in my OP) is the opposite ??????
Hi Gcapman, If your order is hanging during execution, for example sitting in the orders window with the status showing pending for minutes at a time, this is technical issue and you should request a trade audit. This occurred briefly this morning around 4:15am EST and yesterday around 6:40am EST. Are you using MT4? If so keep in mind FXCM's MT4 is setup using Market Execution, rather than Instant Execution. Market Execution executes all orders, including Sell Limits and Buy Limits, as At Best market orders. If you're using the FX Trading Station II, a entry order to buy below the current market price or well above the current market price will always be setup as a Limit Entry. Jason FXCM
The real problem I have is the fact that I never get the right price execution This is certainly a scam For example I just sold some EUR for a profit at market I made absolute that the price was not moving and executed when the buy button was grey Instead of 1.36844...it got executed at 1.36845 Almost everytime I notice they screw me for .00001 pip on my executions This is just one of their scams They need to realize that now that traders have access to 5,000+ traders information - they can lobby them to complain to the appropriate authorities!!!!!
Can I let you in on a little secret, if you sold .00001 higher, you got price IMPROVEMENT! I only trade Fx futures on CME Globex since I am fully aware FXCM is a bucket shop.
I know....I know..... It doesn't happen all the time It only started recently --- after I started to go on a nice win streak! These fuckers at FXCM and their scamming account filters! Each night, their customer database scans for the most successful traders and then switches them to the **make them lose money** trading program! Then all of a sudden they start losing money These hanging executions are really getting annoying FXCM BETTER FUCKING BE CAREFUL SINCE WE HAVE ACCESS TO 5,000+ FX TRADERS -- ALL OF WHOM WE CAN CONTACT AND HAVE THEM VOICE THEIR CONCERNS TO THE CFTC/NFA AND CONGRESSMEN!!!!
Hi Gcapman, Whether your trade is profitable or not does not affect the execution of a trade. If you have the market order setup as an At Best order, it will go through at the best price available, even if the best price is 1/10th a pip away from what you clicked on. If you change the order type to "Market Range" and set the range to 0, the order will be cancelled since liquidity is no longer available at that price. BUT keep in mind the trade will still be open. Jason FXCM
How can there ever be *no liquidity* ???? You are my counterparty so there is always liquidity.......it's not as if this is the standard trading relationship where I am looking for another retail trader to take the other side of my trade....... I don't understand....
For accounts on No Dealing Desk execution, FXCM is not making the market. Each trade is being offset individually with the bank. There is a limited amount of liquidity at each price being offered by the banks. If the number of orders exceeds what is available, the unfilled orders will either be filled at the next best available price or cancelled depending on the order type. FXCM Micro trades are being executed through FXCM's dealing desk; however, the price feed is derived from prices on the NDD feed so the fills can be similar. Execution for micro accounts is changing in the upcoming months as well. FXCM Micro is preparing to upgrade micro execution to No Dealing Desk execution. This change should take place within the next couple of months.