jasonrogers's Posts - Page 6

Forex Contest FXCM in Contests Nov 25, 2014 at 17:46

Hi SCGroup,I'm not familiar with the particular EA to which you are referring, so I cannot comment on it specifically. That said, I would like to direct your attention to the following statements from the contest rules page:"Please note that demo accounts are based on simulated conditions. Though MetaTrader 4 demo accounts attempt to replicate real-time market scenarios, there are key differences that distinguish it from a live account; including, but not limited to, the lack of dependence on real-time market liquidity."Simply put, that means that demo accounts have inherent limi...

Forex Contest FXCM in Contests Nov 25, 2014 at 17:32

EAs are allowed as this is an MT4 demo account contest. How is that not fair? You are free to use an EA yourself if you wish.

Forex Contest FXCM in Contests Nov 21, 2014 at 22:40

Hi AriesGirl,c3po is correct. The Ask price (AKA the price where you can buy) is higher than the bid price you see on the chart, and the Ask price did not go down low enough to reach your Take Profit level. While MT4 charts won't let you view the historical Ask price, you can use your account login details on Trading Station Web: https://tsweb.fxcorporate.com/On that platform, you can see the Ask price on the charts to see how low it went at the time in question. Please let me know if you have any further questions.Thanks,JasonPS: Argwin, the Take Profit orders on FXCM's MT4 platform ...

Forex Contest FXCM in Contests Nov 18, 2014 at 23:27

The GMT+2 setting is not incorrect. It's a preference for many traders who want five equally-sized daily chart bars per week on MT4. (The GMT setting leads to 6 unequal daily bars per week on MT4, which can affect the proper use of some indicators like the 10-day moving average.)The advantage with FXCM (including FXCM US) is that we offer our clients a choice including . If your prefer the GMT setting, then this option is available to you with FXCM. For traders who prefer GMT+2 (AKA New York Close), FXCM offers that too. 😄If your goal is simply to view your local time zone on the M...

Forex Contest FXCM in Contests Nov 17, 2014 at 22:28

Your MT4 demo server is set to the GMT+2 time zone, so that daily chart bars are in sync with the 5pm New York Close. (MT4 daily bars begin at midnight server time which on GMT+2 time coincides with 5pm New York time.)That said, you can view your local time zone on your MT4 platform by using our free Local Time Frames app: http://bit.ly/1ojYPtD

Forex Contest FXCM in Contests Nov 17, 2014 at 22:23

Thank you all for your concern. Our goal is to provide a fair contest for everyone, and we will take appropriate steps to enforce contest rules where necessary.

Forex Contest FXCM in Contests Nov 17, 2014 at 22:06

Trading is closed on Saturdays. You can view the trading hours for all CFD products in the CFD Product Guide: http://bit.ly/TppG9T

Forex Contest FXCM in Contests Nov 14, 2014 at 17:31

Hi Alice,There seems to be some confusion here about why you get "off quotes" messages on your FXCM demo account.First it's important to note that there are no re-quotes with FXCM. Re-quote messages are designed to protect a dealing desk broker from losses. By contrast, FXCM provides you with No Dealing Desk (NDD) forex execution, which means we don't take the market risk on the other side of your trades. The "off quotes" messages you see on our MT4 platform are designed to protect you from unwanted negative slippage. What you pointed out actually highlights a uniqu...

Forex Contest FXCM in Contests Nov 14, 2014 at 01:17

Hi Nordicvit,Unfortunately, I could not view your HTML link. Could you give me an example with a currency trade you have placed on your demo account? I would be happy to walk you through how the commission is calculated. Note that I also posted some examples on the first page of this discussion thread: http://www.myfxbook.com/community/contests/forex-contest/840323,1

Forex Contest FXCM in Contests Nov 12, 2014 at 02:33

Looking at the contest account you mentioned now, you can see there was a large losing trade on November 10. It's possible that information was not yet updated on the page the last time you visited: http://www.myfxbook.com/members/himaalex84/contest-himaalex84/1063473

Forex Contest FXCM in Contests Nov 12, 2014 at 02:24

To know for certain why your trade was closed, please log into Trading Station Web and click on the Report button: https://tsweb.fxcorporate.com/The Condition column of the report will tell you what order type closed the trade. For example, if it says MC, then you got a margin call. That would mean the trade was closed out because you ran out of margin. Did you have any other trades open in your account at the time?

Forex Contest FXCM in Contests Nov 12, 2014 at 02:18

Trading in gold (XAU/USD) has a daily break for 1 hour at 5pm New York time. To learn more about trading CFDs, visit the CFD Product Guide here: http://bit.ly/TppG9T

Forex Contest FXCM in Contests Nov 12, 2014 at 02:12

As mentioned in my post on the first page of this discussion thread, the MT4 charts still show our old pricing which includes our old markups: http://www.myfxbook.com/community/contests/forex-contest/840323,60#?pt=2&p=1&o=840323So while the bid price on the chart only went up to 114.674, the actual Bid price as seen in your Market Watch window (which reflect the raw FX spreads you can trade trade on) went up higher allowing you to sell at 114.679.

Forex Contest FXCM in Contests Nov 11, 2014 at 01:19

No problem. I'm glad that's cleared up. 😄This demo contest is a great opportunity to learn these features of the platform before trading live.

Forex Contest FXCM in Contests Nov 11, 2014 at 01:17

With $50,000 virtual balance in your demo account, the maximum trade size you can place varies from product to the next. Note that you can trade forex, stock indices, metals and energy products. Your contest demo account has the default margin requirements of a USD-denominated FXCM UK account regardless of where you live. You can view those margin requirements here: http://bit.ly/TppG9T

Forex Contest FXCM in Contests Nov 11, 2014 at 01:10

Just to clarify, there was a tech issue on this demo server specifically (other demo servers and live servers were not affected) that caused demo traders to have problems placing orders last week. That issue was fixed this past weekend. If such a tech issue affected live trading accounts, then our clients could file a trade inquiry to be reviewed by the Trade Services Team. If there was an error on our part that affected your live trades negatively, FXCM would make the appropriate correct to your live account.If you still find yourself receiving "Off Quotes" and "Invalid Prices&...

Forex Contest FXCM in Contests Nov 08, 2014 at 00:24

I apologize for the tech issues you have faced this past week. There has been a huge level of interest in FXCM's new pricing, so we are implementing solutions this weekend to balance this increased load across our demo servers. As a result, you should see greatly improved performance on the demo server being used for this trading contest going forward.

Forex Contest FXCM in Contests Nov 08, 2014 at 00:13

Hi Retronite,While you're right that the commission is charged once when you open and again when you close, your total transaction cost with FXCM's new pricing is still lower than with the old model, since you're trading on raw FX spreads with no markups added to the spread. See the examples below.http://i.imgur.com/veY7pcE.pngYou might also want to watch this video for further clarification on how this new raw FX spread pricing works: https://www.youtube.com/watch?v=r1JgoSaFlvs

Forex Contest FXCM in Contests Nov 06, 2014 at 22:55

Thanks sharing that suggestion, TonyAlso, for everyone who has encountered off quotes or invalid prices messages on your demo accounts, please note that these messages most likely mean the price that was available in the market to fill your order was outside your specified Maximum Deviation range. The "off quotes" message lets you know that the order was cancelled to protect you from negative slippage beyond your accepted tolerance.On the MT4 platforms of some brokers, the Maximum Deviation feature might not be available at all, and with others if it is available, then it can limit b...

Forex Contest FXCM in Contests Nov 06, 2014 at 22:16

Commissions are reflected as withdrawals on your FXCM MT4 account. Commissions are only charged on forex trades. That's because you're trading on our raw FX spreads with no markups. A separate commission is charged as your fee to FXCM for executing these forex trades.By contrast, there are no commissions with FXCM when you trade CFDs like gold (XAU/USD), because our markup is already built into the CFD spread. The reason the contestants you pointed out are showing no commissions (withdrawals) being charged is because they are trading gold, not forex.

EURUSD	1.08775	GBPUSD	1.29581	AUDUSD	0.65911
USDJPY	152.346	USDCAD	1.38996	USDCHF	0.86407

Posts by jasonrogers