what a ride

Discussion in 'Forex' started by rjtrags, Jul 16, 2003.

  1. rjtrags


    I had nothing but losses and more losses on FXCM. I alway's got stopped out when I woke up in the morning. I would trade options on the currency futures and make money most of the time going the same direction on the FXCM platform. I couldn't make a profit because FXCM always knew my stops and the currency would spike against in a flash and stop me out. I placed far out of the way stops with no success. Stick with the CME! I don't trust FXCM because their both your Broker and Market maker. They also how to stop everybody out and take your $$$. The 5 pip commission-free ad is a bunch of bull$hit. It's too much money and it is a type of commission. Good luck. RL
  2. corvus


    Do you have some evidence to support this claim? Trade reports, charts, anything? We don't know you here from Adam, so we can't really cross-reference your background, style, and trading performance with your experience at FXCM to really make rational use of the information you're trying to give us. And since your accusation is specifically against FXCM and the interbank market makers, did you try another forex broker like Gain or did you just jump straight to the CME. And systemic, intentional raiding of stops? Hey it's possible, happens on the CME all the time...
  3. rezo_s


    Sorry, but its or you don't know what you're talking about, or you are just blaming your losses on broker. You should understand, that there is no broker not eating (shaving) stops. But if market is more than 5-10 pips away from your stop, its almost impossible for broker to shave you. They cant move the interbank market that significantly. Their (FXCM) monthly trades volume is 20 bil, which is nothing even for one day of forex. Sorry, but I don't think they would intervene in market just to move price for your stop. and as for just changing quote for you as if ther was such price, well, they can do that, but again, any broker will do it (not talking interbank trading here) but still, regulated ones wouldn't like to get reported, so I don't think they can "simulate" the prices with more than 5-15 pips. I for one am trading for 100-300 pips per trade and not trading too often (10-15 trades/mo). My stops are of at least 50 pips, so in case the price goes towards my stop, I know its not simulated and mainly thats the real market move their. In general I doubt stops less than 50 pips have good chances to survive on this market. Theres always little ups and downs after you enter (its not easy to enter exactly on top/bottom), theres always great volatility on this market, and there is always your broker who would love to change the quote you see on screen - a bit - to get your stop and say - I caught another fish today... So, as you see, stop less than 50 pips seem unreasonable to me. But thats only my opinion, and my approach,

    Good Luck and Good Trading Everyone,