i got ripped off during the NFP - Page 2
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Thread: i got ripped off during the NFP

  1. #11
    This is what mrmikal was saying...

    In the attached picture, the At Market is the number of pips slippage you're inclined to accept. The default is 0 to get precise price match.

  2. #12
    MKT order endure for next avaible price. I really do believe retail brokers are a buch of dirt bags and I won't deal with them but filing a complain w/ the NFA/CFTC will do just waste your time and should the NFA/CFTC does good them a couple million dollar as soon as they get enough complaints you will not see any of that. It sucks... but the thing to do is move on... and you will deff finde a bettter broker w/ better spreads too


    turbo

    Quote Originally Posted by ;
    Well, perhaps you can expliin something: In FXCM, when entering with a market order (I've already been with FXCM for 18 months, which I've some experience with them) slippage was unkown to me with a market order. Period! .

    I got in at the price I saw, or I would find the notorious price has moved and I didn't get in at the price I watched, which happended quite often.

    I cannot recall 1 time, when I traded any fast moving market with a market order, when I got slippage. I can't say it over and over I was used to the notorious moving price window
    Don't you think if I would have seen slippage earlier, I would have thought twice to input NFP with a market order?

    As with other times before I expected to buy at the price I saw or not get in at all, or at worst have the working desk provide me a price that I could decline.
    So, I felt pretty secure and made a couple of bucks like that previously.

    So this time they outsmarted me, or exactly what occurred?? Why would this notorious pub NOT pop up abruptly, as it was able to pop up hundreds of times, preventing me from trading, but giving me no loss either????

    That's all I want to understand. Where was this price has transferred window this time????

    Should they outsmarted me, I will live with it. I am in touch with a man who promises to have a egy to get back to FXCM, you create one trade, you make big dollars and you conduct. If he should really talk about this egy with me (provided that this egy does indeed exist), I will be delighted to share it with you all!

  3. #13
    Here is a chart of 4 popular brokers and their behaviour during the NFP release. FXCM was leading the market by a full 10 pips.

    Truthfully, entering a market order during NFP is the equivelant of falling your soap in a prison shower. You get what you asked for.

  4. #14
    If you utilized Oanda, you wouldn't have this dilemma.

  5. #15
    Quote Originally Posted by ;
    Here is exactly what mrmikal was stating...

    In the attached image, the At Market is the number of pips slippage you are inclined to accept. The default is for exact price match.
    Well, my default 0. Zero, zilch, niente!

    You want to understand I have traded under these circumstances many times. I was not prepared for slippage, because I never had slippage using a market order. This may sound strange, but it is the truth: Either I got in with no slippage or I did not get in at all.
    For what occurred this NFP, I was totally unprepared.

    I would love to know is if it is lawful to suddenly give you 50 pips slippage though your channel says 0 as default?

    BTW, I entered the transaction at exactly 8:30 and at 8:32 it was all over for me!

  6. #16
    Mate if you clicked the button just on my platform you'd of been F@%$ also...

    View my preceding chart

    turbo


    Quote Originally Posted by ;
    Well, my default was 0. Zilch, zero, niente!

    You want to understand that I have traded under these conditions many times. I wasn't prepared for slippage, because I had slippage with a market order. This might sound strange, but it is the truth: Either I got in with no slippage or I didn't get in at all.
    For what happened this NFP, I was completely unprepared.

    I would like to know is if it is lawful to suddenly give you 50 pips slippage although your station says 0 as default?

    BTW, I entered the trade at precisely 8:30 and at 8:32 it was around for me!

  7. #17
    Bernfriedd

    like I already said, ask FXCM for the official date/time of the order first.
    Ie, FXCM, can I get the official date/time regarding when my order was placed?

  8. #18
    Quote Originally Posted by ;
    Should you utilized Oanda, you would not have this issue.
    I have signed up using Saxobank at the meantime, they implemented my trades without problems up to now. And I have looked into ECN trading.

    Does anyone have more information on what Joe Ross said about much better regulations coming? He also stated that Reuters develops some much better controlled Forex platform and I quote:

    here's yet another expectation on the horizon for traders who wish to trade forex at a controlled venue. Sadly it will not occur until 2008. At that point you'll have the ability to exchange forex on Globex in the CME, at a controlled environment and with uniformity of prices.

    I'm truey looking forward to this, however in the meantime I feel ripped off and if there is no recourse and I am wasting my time, so be it.

    However, if there's a way I can create some warmth under FXCM'S fat behinds, please let me know it.


    PS

    I also have looked into Dukascopy, Hotspotfx, EBS FX and EFX Group.

    If someone has more information on above companies, please be welcome to discuss it.
    So far Dukascopy seems fairly good to me.

  9. #19
    Quote Originally Posted by ;

    As I already stated, ask FXCM for the official date/time of the order .
    Ie, FXCM, can I get the official date/time regarding when my order was placed?
    You bet I will. I will call them when they start their office at 5 pm and I shall post the specific time . But what's the next step ?

  10. #20
    I really don't understand how you guys trade, but I never appear to have this issue with NFP. I really don't use a stop within my transactions, but I exchange very very mild. On a $100,000 account I exchange only $10 lots.

    When the market moves 50 or even 100 pips, I still have a lot of margin left to play with, and by the time that the market has moved 50 or even 100 pips, I already have other orders in making money as the market goes against me.

    For instance once the EUR/USD climbed to about 1.2900 I kept pitching shorts in about every 30 pips. Eventually when the market hit the very top of it's range I was clearing out orders left and right.

    I never had more than 15% of my account tied up in margin the whole time.

    Only my egy.

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