Getting Around your broker
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Thread: Getting Around your broker

  1. #1
    Some brokers are great for News Trading, some are not.

    News trading requires:
    1. Speedy execution of order - which means no slippage
    2. No widenning of spreads - which means no stop hunting

    It's come to our attention that ECN is becoming the standard for news trader who desires NO SLIPPAGE. But ECNs have a reputation for spreads that are enlarged. On a simple/minor news, you could experience 20 pips spread! So thats the price for paying for no slippage - its slippage in the disguise of spread that is extended.

    I have been trading with FXCM for 2 months now. I know it isn't the best broker for news trading. But I find something I can take advantage of them.

    On additional brokers (like ECNs and OANDA), you'd probably be pissed using the enlarged spreads which makes you not able to perform the little news.

    This is where our most hated broker FXCM shines. FXCM does not monitor minor news like CAD CPI, or GBP Rate Hike, or US Durable Goods. I can openly put any orders I like without fear of spreads. And to be a winner, I must put the Entry orders quite near the final minute price...

    What are your stories with your brokers? Please share your experience on how best to take their benefit.

  2. #2
    Quote Originally Posted by ;
    First of all, sorry for my English, it isn't my mother language.lt;ogt;lt;/ogt;

    I started straddling the news about 2 month and a half with FXCM. Money was left by me and that I had no problems with limitations and stops. However, now I see they don't allow me to trade some lt;st1:country-region w:st=ongt;lt;st1lace w:st=ongt;USlt;/st1lacegt;lt;/st1:country-regiongt; announcement since they suspend the platform about 5 o 15 minutes prior to the release, and on occasion the execution isn't as fast as it had been at first when I started to trade. So I'm thinking about to focus my trade from the minor news, (lt;st1lace w:st=ongt;lt;st1:country-region w:st=ongt;UKlt;/st1:country-regiongt;lt;/st1lacegt;, CAD and some AUS) whenever the platform is okay to do that. Lt;ogt;lt;/ogt;

    As you said; once you begin to create money they alter the originals state that allow you to trade profitably. However, I wondered why they do that? Lt;ogt;lt;/ogt;

    I compute that in the event that you risk 5 per cent of you equity in every trade and you get only 15 pips per week you may create approximately 30 per cent monthly. The major issue for me is; It's possible because of the limitations of the frozen platform?lt;ogt;lt;/ogt;

    lt;ogt;lt;/ogt;

    I'll love any piece of advice from you.lt;ogt;lt;/ogt;
    I had a lengthly conversation with FXCM concerning this issue and this is their OFFICIAL statement on it.

    If you're always trading as stated above, it might raise some red flags on their end; after they noticed you doing just that, your account will be put in Manual Execution.

    There is no way out of this. After in Manual Execution, your account will stay in that egory until yoiu closed it.

    Recommendation: Ask you brother, sister, dad, mother to open an account and use that to trade with FXCM. Rinse repeat.

    PS. I felt sorry closing my FXCM account a month. I believed that the new broker I got would be better compared to FXCM. I was incorrect. The profit I made from FXCM were STOLEN by this new broker using their HIDDEN RULES. FXCM isn't as bad as other men and women think. At least I never experiencing FXCM crashing even on big time news NFP... The only bad thing with FXCM is that if you keep straddling the news, they will put your account in guide execution.

  3. #3
    Quote Originally Posted by ;
    I had a lengthly conversation with FXCM regarding this issue and this is their OFFICIAL announcement on it.

    If you are consistently trading as stated previously, it would raise some red flags on their end; once they noticed you doing exactly this, your account will be placed in Manual Execution.

    There is not any way out of this. Your account will remain in that group until yoiu closed it.

    Recommendation: Ask you brother, sister, dad, mother to open an account and use this to exchange with FXCM. Rinse repeat.

    PS. I felt sorry final my FXCM account a month. I believed that the new broker I got would be better than FXCM. I was incorrect. Each of the profit I made from FXCM were STOLEN by this new broker using their HIDDEN RULES. FXCM is not as bad as other men and women think. At least I experiencing FXCM crashing on large time news NFP... The only bad thing with FXCM is that in case you keep straddling the news, they will set your account in manual execution.
    I have a question; Should you open a new account and you combine your trading style (occasionally news straddling and occasionally another like Vegas, or whatever) Do they place you in manual execution? Is there any means to avoid to be in execution when your main objetive is to scalping the news?

  4. #4
    Quote Originally Posted by ;
    I've a question; Should you open a new account and you mix your trading style (sometimes news straddling and sometimes another like Vegas, or anything ) Do they put you into manual implementation? Is there any way to avoid to be in manual implementation as soon as your main objetive is to scalping the news?
    I've done more TA compared to NEWs with my FXCM (perhaps 2:1). Nevertheless I had been placed at the Manual Execution group even though my account afterward was still in negative. Just performing the minor news was I able to receive my money back with profit.

  5. #5
    First of all, sorry for my English, it is not my mother language.lt;? Xml:namespace prefix = o ns = urn:schemas-microsoft-comfficeffice /gt;lt;ogt;lt;/ogt;

    I started straddling the news around two month and a half with FXCM. I made money and I had no issues with stops and limits. But I see they don't allow me to trade any lt;? Xml:namespace prefix = st1 ns = urn:schemas-microsoft-comffice:smarttags /gt;lt;st1:country-region w:st=ongt;lt;st1lace w:st=ongt;USlt;/st1lacegt;lt;/st1:country-regiongt; announcement since they freeze the platform around 5 o 15 minutes before the release, and on occasion the execution is not quite as fast as it had been at first when I began to trade. So I am thinking about to concentrate my trade from the minor news, (lt;st1lace w/ st=ongt;lt;st1:country-region w/ st=ongt;UKlt;/st1:country-regiongt;lt;/st1lacegt;, CAD plus some AUS) whenever the platform is okay to do that. Lt;ogt;lt;/ogt;

    As you said; once you begin to create money they change the originals condition that let you trade profitably. Why they do that, However, I wondered? Lt;ogt;lt;/ogt;

    I compute that if you risk 5 per cent of you equity in every trade and also you get only 15 pips each week you may create around 30 per cent monthly. The big issue for me is; It is possible because of the constraints of the suspended platform?lt;ogt;lt;/ogt;

    lt;ogt; lt;/ogt;

    I'll appreciate any bit of advice from you.lt;ogt;lt;/ogt;

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