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Major spikes took my money

Discussion in 'Scam Alerts' started by Freddy1945, Nov 26, 2012.

  1. Freddy1945

    Freddy1945 Recruit

    Oct 9, 2012
    Likes Received:
    I practice traded for a couple of months and was consistently making money. I was tripling my investment every month. When I went live, and had money in the game, the price stared to spike (normally in the middle of the night). The spike was so fast that it was over before the stop loss could be activated.
    Basically the price went so low that I could not cover the difference and my money disappeared. The price immediately returned to the previous number, and had the spike not happened I would still have been in a favorable position. This happened three times over the course of a few days. I wonder if this has happened to anyone else. I had not seen this type of price activity in the entire time I was practicing. Is it possible that the broker could cause the price to make a large swing in a short period of time by some means?
  2. FXCobra

    FXCobra Banned for uncivilized conduct

    Jun 30, 2012
    Likes Received:
    Are you telling us your trading drama story or is it one of Hitchcock unknown versions?:D

    Spikes or widen spreads at night time are not abnormal to see in most brokers especially if that was accompanied with some news at that time.

    What is your broker name? We might better advice you looking at your broker history(if any scam finding in FPA)
  3. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    Initial price and max/min price of the spike would also be very helpful information.
  4. BigT1

    BigT1 Sergeant Major

    Jan 21, 2009
    Likes Received:
    When testing in demo, there is no slippage, requotes, off-price, etc. It is purely theoretical trading.
    Depending on your trading style and execution method, real money trading results will vary mildly to widely from such theoretical results.
    1 - Describe your method of trading. Is it automated or manual?
    2 - Who is your broker?
    3 - What pairs did you trade, and in what hours and timeframe?
    4 - What leverage did you employ?
    5 - What risk management did you employ?
    If you have trouble answering these questions, you are unprepared as a trader.
    If you can answer these questions and want our assistance, please allow us to examine your trade history to determine just what has occurred.
    There is no need to disclose your acct# or full name. If you need assistance in masking these, just ask for help here.
    If English is a second language for you, please post in your native language and English, so we can translate on our own.
    Anthony Ingrassia, CTA
    NFA ID#: 0278164
    #4 BigT1, Nov 27, 2012
    Last edited: Nov 27, 2012

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