trading during NFP

[cammolo86]

I'm on a mini account with fxcm.just following the NFP news awhile ago. I trade and jumped in. Luckily I undergo. But getting out was not! Was trading eur/usd didn't attempt to close my trade and did purchased at 2818. But fxcm won't let me! I get waiting for traders answer I kept cancelling and shutting again and again my place. . Until I can see my profits slide away..instead of all 2855,, managed to close it in 2833 that has been approximately 8:50am EST.. Waited for 20mins or so before I can finally close my trades

did anyone else experience such on their mini account with fxcm?

It was not like this earlier. . I've been with them for 3years now. . I could always get in and out in NFP anytime..but its not so recently,,even in not NFP. .

[miqwl]

Ordinarily, its not accessible on a demo. Open a miniature USD250 (400:1, base 10) and you'll have access to it. Or the connection I provide you is an immediate connection to this broker who handled my account. She is very helpful professional. Use that connection, you'll find a call from her!

All the best!

P.s Have a look at their fund manager mode 1 and utilize your imigination! I have a account. You think I had been sweatting for fake money? Yesterday I traded the NFP and that I waited 22 min for a match. So, how do I get into the volatility calendar, I really don't want to be in that situation .

[oxmcfp1991]

Glad to see this thread - was going to start a similar one myself...

I tried to put a market order with FXCM a couple of minutes before the news hit on Friday - my halt would have had to be nearly 1000 pips away from the opening!

I was only worried about getting in - was not considering that closing the situation could pose similar problems...

[Memi1108]

Retail Forex Brokers

Retail forex brokers or http://en.wikipedia.org/wiki/Market_maker handle a second fraction of the total volume of the foreign exchange market. According to CNN, one retail broker quotes retail volume at $25-50 billion daily, http://money.cnn.com/2006/03/10/news/international/bc.financial.currencies.retail.reut/which is roughly 2 percent of the whole market. CNN also quotes an official of the National Futures Association Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically.

All firms offering foreign exchange trading on the internet are market makers or facilitate the setting of trades with market makers.

In the retail forex market market makers often have two separate trading desks- one which really trades foreign exchange (which determines the firm's own internet place on the market, serving as a proprietary trading desk along with a way of offsetting customer trades on the interbank market) and one employed for off-exchange trading with retail clients (called the dealing desk or trading table ).

Most retail FX market makers claim to cancel clients' trades on the interbank market (that is, with other larger market manufacturers ), e.g. after buying from the customer, they market to a bank. Nonetheless, the huge majority of retail currency speculators are beginners and who lose cash http://webreprints.djreprints.com/1276711190447.html, so that the market makers would be providing up large profits by offsetting. Offsetting does happen, but only when the market manufacturer judges its clients' position as being risky.

The dealing desk operates much like the currency exchange counter in a bank. Interbank exchange rates, that can be displayed at the dealing desk, are corrected to incorporate spreads (in order that the market maker will make a profit) before they are displayed to retail clients. Prices shown by the market maker do not neccesarily reflect interbank market rates. Arbitrage opportunities may exist, but retail market makers are effective at eliminating arbitrageurs from their systems or restricting their trades.

A limited number of retail forex brokers offer consumers direct access to the interbank forex market. But most do not due to the limited number of clearing banks keen to process small orders. More importantly, the dealing desk version can be a lot more profitable, as a huge part of retail traders' losses are turned into market manufacturer profits. While the earnings of a marketmaker which offsets trades or a broker which facilitates trades is limited to transaction fees (commissions), coping desk brokers may generate income in a variety of manners because they not only restrain the trading process, they also control prices that they may skew at any time to maximize profits.

The rules of the sport in gambling FX are highly disadvantageous for retail speculators. Most retail speculators in FX lack trading expertise and also funds (account minimums at a few firms are as low as 250-500 USD). Minimum position sizes, which on most retail platforms ranges from $10,000 to $100,000, force small traders to take big positions using high leverage. Professional forex traders rarely use more than 10:1 leverage, yet many retail Forex firms default client accounts to 100:1 or even 200:1, without revealing that this is highly unusual for currency traders. This drastically increases the risk of a margin call (that, when the speculator's trade isn't cancel, is pure profit for the market maker).

According to the Wall Street Journal (Currency Markets Draw Speculation, Fraud July 26, 2005) Even individuals conducting the trading stores warn clients against attempting to time the market. 'If 15 percent of day traders are profitable,' says Drew Niv, chief executive of FXCM,'I'd be amazed.' Http://webreprints.djreprints.com/1276711190447.html

In the US, it's unlawful to offer foreign currency futures and option contracts to retail clients unless the offeror is a regulated financial entity according to the Commodity Futures Trading Commission http://www.cftc.gov/opa/press01/opaadv06-01.htm. Legitimate retail brokers serving traders at the U.S. are most often registered with the CFTC as futures commission merchants (FCMs) and are members of the National Futures Association (NFA). Prospective clients can assess the broker's FCM status at http://www.nfa.futures.org/basicnet/. Retail forex brokers are much less regulated than stock brokers and there is no protection like that from the Securities Investor Protection Corporation. The CFTC has noticed an increase in forex sc http://www.cftc.gov/enf/enfforex.htm.

[Sanlisekba]

Hi . .

Well my buddy. It is the worst thing that a day trader could have.

FXCM is a not a brokerage firm,abut it is a dealing desk also. It had the automatic trading platform where you can set points. Nevertheless, they found if they trade against their customers, they could make money. They trade against you. You believe that a brokerage firm can be happy with 3 pips spread using accounts _ that means you ddin't get the match .you rade with 100k or 200k; therefore 3 pips spread gives them 30 $ or 60$. Do you think that it's satistying with these people? Certainley no .

That's what occurred for REFCO while it was expiring. So you have to modify your dealer before you wake up one day and you see your account expired. .

i worked with FXCM . . When they became worst. I said bye bye . I closed my account and opened with saxo bank. You don't have to loose your money. You have to be precautious man. They won't inform at FXCM, we are dying, and we're going to hell,save your money and shut your account. . . As it pertains in, you have to feel the desaster. That's the way the trader work. You have enough money and you'll be able to trade with any working table you trust. .


SO take care. .


Bye . .

[ganaylexis]

I have a account. You believe I was sweatting for money? Yesterday I traded the NFP and I waited 22 min for a fill. So, how can I get into the volatility calendar, I do not want to be in that situation. No, I dont believe you'll sweat for fake money! BUT its amazing, because you rather wait 22mins to get a fill lose more than USD250 rather then invest USD250 to get a better deal.

The votality calender is only for GFT customers, but it cannot be used for additional platform. Put simply, the information inside the calender just works with GFT once you dont have an account with them, there is no point in getting the calender. What is volatile to FXCM may not be volatile for GFT and vice versa. Period is characterized by brokerage companies, its not a thing like fundamental announcements.

Im not asking you to open an account with GFT, it's simply a suggestion and only trying to help. If you dont like the idea, so be it!

Take Care!

[Chemila14]

I'd been having more and more issues. Platform freezing, so called price fluctuations when there were none, delayed trades. I abandoned FXCM and I have felt more happy .

Today, while I get some price changed during times of very large volatility, it is at times when it is understandable, and only occasionally. I also have no trouble putting entry orders 30 pips from the price only 5 minutes prior to NFP. It makes trading much more agreeable, not to mention profitable.

[oxmlabe13]

yupz, I really do have multiple brokers. . Can always switch from one to another: anyone recall electricsavant with this forum (how can we forget him, correct )? What I loved about this guy is that he always talked about how to exploit broker flaws. His eyes were on the cash, and he recognized a few sure fire ways to expliot a multiple broker account arrangement.

Why guy is out there likely making a lot of cash is because he was enjoying the game, not whining about the rules. He looked at the landscape and figured out how to expliot it for his own personal gain. Capitalism at its finest!

[caloka]

FXCM is notorius for not letting if you are going in the ideal direction in if it's not to your advantage or keeping you. Would be to change brokers. FXCM was my broker and I will never use them . Ever.

They appear to prey on new traders and their spreads could be horrible.

Good Luck,

Michel

[gaibaq]

anyone remember electricsavant on this forum (how can we overlook him, right)? What I loved about this guy is that he was talking about how to exploit broker flaws. His eyes were about the money, and he recognized a few sure fire ways to expliot a multiple broker account arrangement.

Why guy is out there likely making a lot of money is because he was playing the game, not complaining about the principles. He figured out how to expliot it and looked at the scene. Capitalism at its finest! Merlin, I don't think we're getting through to them on this. . .they're likely to blame their brokers. . .sad reality of life, I Believe we're going to Need to live with it...

:-|

[ganaylexis]

To all broker trader complainer,

Try this company, well I will ALMOST guarantee that this is a Market Maker in which the fund managers banks do place forex. No more slippage, No volitality intervals, NO LIMIT orders NO Bull S***.

Http://www.forexplatforms.com/dukasch.htm

All we know, a number of the names in forex brokerage are sending their orders with this company.

All of the best

[Amalinga]

To all broker dealer complainer,

Try this firm, well I will ALMOST guarantee that this really is a Market Maker where the finance managers banks do place Currency Market. No slippage, No volitality intervals, NO LIMIT orders NO Bull S***.

Http://www.forexplatforms.com/dukasch.htm

All we know, some of the names in Currency Market brokerage are sending their orders with this firm.

All of the best
Is His Majesty the Sultan of Brunei also trading through them?

Thanks

[Blanca2000]

, mrmikal:

Agreed. Simply stated, Play with the game or get played! enuf said.

How about I put in my cliche hat:

When it is raining, start an umbrella or get out of the rain. Enjoy the shower and don't complain.

If you can not stand the heat, get out of the kitchen.

It is an undercover workman that blames his tools.

Even Adam after eating the forbidden fruit in the Garden, was a blameshifter, when he said to God, It was that girl that you gave me!!! Gen. 3:12

A (not so) gentle rebuke - WAKE UP!!! No more pity parties, no broker bashing, c'mon people, stop your griping. Either find a broker that is appropriate for you or simply keep your day job and intend to work the next 30 decades, retiring with a gold watch, no social security, and that impending sense of creeping senility that leaves you wondering who will feed you if your sight has dimmed, your hand has slowed and your hair has dropped.

[ganaylexis]

Is His Majesty the Sultan of Brunei also trading ?

Thanks Hehee.... He got his own Brunei investment Agency (BIA) to do this for him.

[Amalinga]

Hehee.... He received his own Brunei investment Agency (BIA) to do this for him.
That for sure is a strong one! !
Greater than any ECN on Earth.

Highway

[miqwl]

No, I dont believe you will sweating for fake cash! BUT its amazing, because you wait over USD250 is lost by 22mins to get a fill then invest USD250 to have a better deal.

The votality calender is simply for GFT customers, but it cannot be used for additional platform. The information within the calender just works with GFT, therefore once you dont have an account with them, there is no point in getting the calender. What is volatile to FXCM might not be volatile for GFT and vice versa. Votality period is characterized by brokerage companies, its not a standard thing such as fundamental announcements.

Im not asking you to open an account with GFT, it is just a proposal and just trying to help. When you like the thought, so be it!

Take Care! Okay, let's calm down here, I think it's just a misscommuniion. I ment to mention I do have a account with GFT. I have been trading there reside for a month or two, and the delay that is 22min happened together. I didn't lose any cash, I had been filled at the designated price, it's just I needed to wait patiently and strain for 22 minutes to get this fill. Thank you for the help, I do appreciate it guy, sorry for any missunderstandings.

[ganaylexis]

Thank you for your answer. Can you happen to have a connection for that volatility calendar? I can't appear to find it on their site. Ordinarily, its not accessible on a demonion. Open a mini USD250 (400:1, base 10) and you will have access to it. Or the connection I provide you is a connection to this broker who handled my account. She's quite helpful professional. Use that connection, you will find a call !

All the best!

P.s Have a look at their fund supervisor mode 1 and use your imigination!