fxfrench
FXOpen AU Representative
- Messages
- 392
I'm not about it.
What I am about is: this wasn't prohibited when I did it. I didn't know I do any damage to your business. So while I respect your rights to protect yourself, I don't like the way you did it. It was just enough to ask me to stop it. No point to call me for rules violation and have me to beg you to release my money. I already explained it.
I don't know the details of your account or your troubles to withdraw but I will ask in the morning when the office is open. I am concerned though since we do not have a policy of being obstructive in that regard. If you would like to explain what happened in private, please email me manager@fxfrench.com and explain your withdrawal difficulties.
That's the point! I would rather ask you: why?
It works in tester but not realtime. I know, the tester is not reliable.
But it confirms the code functionality.
I modified the EA to enter at market instead of stops. But the orders don't get filled. Why? I take your Ask or Bid, add slippage...
If it is major news releases you are trading, I assume it would be the liquidity issue. When a major news release happens, most of the bigger liquidity sources dry up as the professional analysts decide what they are going to do. When the liquidity dries up, the spread widens, sometimes significantly as is normal in a supply/demand market. This would explain why you are not getting filled on news trades, especially if you would be subjected to excessive slippage (in excess of 100 pips for example because the next available liquidity is at a crazy price), in that case our server will not transmit the order so that you are saved from a significant loss.
But still there is something I don't get Mr FxFrench:
You provide quotes, you accept orders based on your quotes and then you say these orders are prohibited or illegal or else.
Few days after my account was blocked (and after some discussion with support) I got another message (this is the most important part of it):
"We provide our clients with a fixed spread that is subject to spikes (fast market price movement up and down) during market conditions prior to significant news releases or international events with economic consequences. These spikes are based on our feed providers widening their spreads during these certain market conditions. Stop orders that are placed right before such news releases or events can be triggered by the price movement caused by the widening of spreads. In an effort to minimize client problems as a result of these spikes, all accounts using the strategy of placing Buy Stop and Sell Stop pending orders just before significant releases, with prices that are very close to the current market price, will be blocked".
If you have tech issues with your providers why won't you fix it?
Why won't you simply stop accepting orders in such conditions?
Why do you put the blame on customers?
This is not a tech issue at all but it is how a market maker with fixed spread operates. A significantly widened spread on the real market, can affect the quoted prices within the market maker environment which may in extreme circumstances, spike around quite wildly. Again I don't know the full details of your account, but from what I see you have quoted here, the dealer (?) is explaining how he has decided to protect you from unfair spikes by denying a losing strategy from working at all. Afterall, straddling is a losing strategy. You may sometimes get lucky but overall, you will lose. Believe me I have tried every method under the sun to get it to work in the almost 10 years I have been trading personally in the market and I have yet to see a straddling method that a) works, and b) would be easy for a dealing desk dealer to effectively hedge for risk on the market.
If I lose due to my faults I don't blame any broker...
If my SL was triggered by just a pip or two I don't start shouting: "this is illegal broker activity to push prices to trigger my stop".
I simply correct my trading methods to avoid it happening in future.
But you take actions against your customers...
You are still free to devise a method that works in an ECN account that also takes into account liquidity issues. If you feel you have been accused of something I am sorry for that. I don't think there was any intention to offend.
I didn't say that. I said I don't like the way he occupies the forum. Pages long. Lots of promo stuff. This is what I don't like. Conversely I do like he assists FX Open customers here.
I am here to answer questions and to post relevant material as requested by my superiors. To be fair, our purely promotional activities are kept to a minimum on FPA forum as compared to other forum promotion activities that we engage in aren't they?