This is the Forexoma answer to temcclain post regarding the EURGBP position that he had.
Before we start explaining about temcclain we have to say that we like ForexPeaceArmy because it helps to know good from bad in general, however it is a place that losers also abuse to accuse the others for their losses.
Regarding temcclain there are a few things that we have to explain before talking about his EURGBP position:
1. He opened a live account on 2011.06.06 with $579.57
2. He almost wiped out his account and had to reload it with $241.41 on 2011.07.13.
3. The EURGBP position he is talking about is his last position (order ticket # 862482) taken on 2011.07.14 at 11:45. Most of the positions he has taken before this EURGBP position were losing positions.
4. Before he opens a support ticket and complains about this EURGBP position, he opened another ticket and complained that:
On 14 July I was selling the AUD/JPY pair. When I was in profit, I attempted to close the orders. The orders to close didn't take until I was at a loss for both orders.
However, he got a proper answer from our support team and so he forgot about the AUDJPY positions and focused on EURGBP.
This is his account full statement:
http://www.forexoma.com/images/posts/statements/Statement1.htm
Please download the statement and follow his positions. It is obvious that when he was about to wipe out his account for the second time, he decided to accuse us as the broker for his losses.
Now about his complaint about the EURGBP position that he has taken:
He opened a support ticket on 2011-07-14 at 08:36:10 EST and said:
I just exited a trade where I sold the EUR/GBP between 11:45 and 12:36. I was clearly in profit. The market broke my trend line. I exited and immediately checked my account history. It said that I had no profit.
Order number 862482
Then when he was asked that how much he was in profit, he said $25. Please note that the position was a 0.1 lot position.
The position was taken on 2011.07.14 at 11:45 at 0.88022 and closed on 2011.07.14 at 12:36 at 0.88022.
Please click on the link below to read the support ticket he has submitted and our support team answers to him:
http://www.forexoma.com/images/posts/statements/862482.htm
Also here please see the screenshot of the position:
http://www.forexoma.com/images/posts/statements/order-862482.gif
As you see the position was closed after 51 minutes according to the 1min chart. The 2011.07.14 11:45 candle on the 1min chart is where he has taken the position. After taking the position, the market went against him but then it turned around. At the 2011.07.14 12:35 candle on the 1min chart, his position went to the maximum profit which is about 6.3 pips because the lowest price of the 2011.07.14 12:35 candle is 0.87959 which is 63 points or 6.3 pips below his entry (0.88022 - 0.87959 = 0.00063). Yet we have to deduct the spread from this 6.3 profit because with the short positions you have to pay the spread when you want to close. If the spread was 3 pips at that time, then under the best condition his position was only 3.3 pips in profit. Where on the earth a 3.3 pips profit with a 0.1 lots EURGBP position equals $25 ???
The pip value of a 0.1 lot EURGBP position is about $1.75 right now (rate=0.8754). Therefore the highest possible profit that his position had could not be more than $5.77 , not $25 as he says. And this profit could be collected only if he had closed his position when the market was at 0.87959, whereas he closed the position at the next candle while the market went up a little.
There is no doubt that he is lying and this position could never be in profit for $25.
Another thing is that he still doesn't know many of the basic and fundamental things about forex and forex trading. This is something that can be easily found out from the conversations that our support team had with him through the above support ticket. For example in one of his answers he says:
you misread. I got in at 11:45 where the opening price was .88038. I got out at 12:36 where the low for that 15 minute time frame I was trading was .87963. That is 75 pips not taking into account the spread.
Obviously he did not know how to calculate the pip number of a position with a 5 decimal platform like ours. The difference of 0.88038 and 0.87963 is 75 points which is 7.5 pips, not 75 pips.
There are some cases that our clients complain or ask for clarification about the closing of their positions. Our support team analyzes the positions, check the log files and find the answer. There were a few cases that our liquidity providers made a mistake and closed some positions wrongly. This is something that can be easily found out by us and when we come to this conclusion that the problem was from our side, we reimburse the loss to the client account. Actually one of the reviews we have at
https://www.forexpeacearmy.com/public/review/www.forexoma.com is by one of these clients (eleanor, south africa) who was so happy about our support with her wrongly closed positions, and was more than happy when she saw that we recovered all her losses without any argument.
However, in cases like temcclain, when we see that the client is trying to lie and wants to abuse our good faith and insists on his false position, we do not continue to communicate after we clarify everything to the client. It is very easy to find out if a position had a problematic close from our side, or there was no problem. When we explain to the client that there was no problem and we see that the client doesn't listen and insists and accuses us for something that is completely clear and obvious, we can not do anything more.
Everybody knows us. We have so many happy clients. We have so many clients who take big positions. Our happiest clients are among those who have the biggest accounts. If we wanted to cheat on our clients, we would do it with those accounts, not with a $500 account and not for a 0.1 lot position that doesn't make even few cents for us as the broker.
Readers have to be smart, not to be deceived by the reviews and comments of the losers and cheaters. Please open your eyes and do not believe everything that people say over the internet.