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Forex Contest FXCM

Jason Rogers (jasonrogers)
Nov 25 2014 at 17:50
272 posts
eogorfx posted:
Problem with FXCM is that the EA only reacts to the Chart pricing whhich has a much wider spread than the market watch spread.
The say they will fix it but it seems that they are in no hurry to do it and it can't be a big deal.

For others wondering about this, I address this question about MT4 charts in detail in my first post on page 1 of this contest discussion thread: https://www.myfxbook.com/community/contests/forex-contest/840323,1

FXCM is working on a solution, however, it will not be available before the end of this contest.
Jason Rogers (jasonrogers)
Nov 25 2014 at 19:42
272 posts
naturallycurly82 posted:
Has anyone been able to place limits or stop loss on trades placed? I keep getting an error, I don't understand why...

There is no reason why you should not be able to set stop losses on your trades. What error message are you getting?
WahJay (wahjay)
Nov 26 2014 at 00:21
41 posts
Mr Jason Rogers,

Thank you for your answers. However, do you know that myfxbook's track records can be completely hacked and modified? It's very simple, modifying the ftp file of MT4 which is linked to the myfxbook server updated every now and then. In other words, I can put 50000 lots on 1 trade if I wish, this will be displayed on the myfxbook, as well as the result and myfxbook will replicate this impact on the charts and numbers. But Mr Jason, do you allow 50000 lots at once on a trade? I believe the limit is 50 or 100 in general for any forex broker on 1 trade at a time. I know this because I have done it. I can actually even change the name of my trade with whatever I want and even add a photo in the trade history.. ridiculous.

Just to let you know that, if you look at the contest, especially the top accounts, questions exists. So, EA's should be permitted but myfxbook first but you too should as a partner make sure that the myfxbook third party software and internet platform are secure and represent the truth and are not being easily hacked.

You wouldn't want to give free gifts or money to losers right... ? ;)
Tony Manso (amelabs)
Nov 26 2014 at 02:58
67 posts
eogorfx posted:
Problem with FXCM is that the EA only reacts to the Chart pricing whhich has a much wider spread than the market watch spread.
The say they will fix it but it seems that they are in no hurry to do it and it can't be a big deal.

That is incorrect. I am using EA on FXCM and it definitely uses the Market Watch prices, completely ignoring the chart prices.
Paulo Sadi (psadi)
Nov 26 2014 at 07:52
22 posts
Species8472 posted:
Man I totally Agree 10 Billion percent. EAs should be in EA contest. Humans should be in human contest. EAs dont go to bed eat, sleep or have sex which is to say we do other things besides trading. Ea is an octupus which have a million eyess to look at a million different currencys. This mixing of manual and EA is a serious blunder.


Dear Competitors;

I'm sorry to rudeness, but I have to say something that I consider important to everyone.

I am little worried if I'll win the game or not!

I'm here to Assess my limitations and my mistakes.

I'm testing various EAs to see if it works in a real environment.

If the Broker is bad or the platform does not work right. What interests me is if my EA works in various conditions.

Missing or hitting ... always learn more.

Health Peace to All!
eogorfx
Nov 26 2014 at 14:49
11 posts
amelabs posted:
eogorfx posted:
Problem with FXCM is that the EA only reacts to the Chart pricing whhich has a much wider spread than the market watch spread.
The say they will fix it but it seems that they are in no hurry to do it and it can't be a big deal.

That is incorrect. I am using EA on FXCM and it definitely uses the Market Watch prices, completely ignoring the chart prices.

Hi Tony
Please advise how I can know or test which pricing the EA is using.
Maybe it depends on how the EA code is written?
Rimantas at ea-coder.com says that he would not use any EA on a broker who is using different price feeds for the MW and the charts!
Tony Manso (amelabs)
Nov 26 2014 at 17:12
67 posts
eogorfx posted:

Hi Tony
Please advise how I can know or test which pricing the EA is using.
Maybe it depends on how the EA code is written?
Rimantas at ea-coder.com says that he would not use any EA on a broker who is using different price feeds for the MW and the charts!

Put this code in a script and the drag the script onto your chart

PrintFormat('HEY! bid=%f ask=%f spread=%f',bid,ask,ask-bid);

Then check your log for a message with the word HEY
Tony Manso (amelabs)
Nov 26 2014 at 17:31
67 posts
People act like their lives are depending on the outcome of this contest. I don't understand this at all. Contests are for fun and to see how your strategy compares with others.
Jason Rogers (jasonrogers)
Nov 27 2014 at 02:37
272 posts
wahjay posted:
Mr Jason Rogers,

Thank you for your answers. However, do you know that myfxbook's track records can be completely hacked and modified? It's very simple, modifying the ftp file of MT4 which is linked to the myfxbook server updated every now and then. In other words, I can put 50000 lots on 1 trade if I wish, this will be displayed on the myfxbook, as well as the result and myfxbook will replicate this impact on the charts and numbers. But Mr Jason, do you allow 50000 lots at once on a trade? I believe the limit is 50 or 100 in general for any forex broker on 1 trade at a time. I know this because I have done it. I can actually even change the name of my trade with whatever I want and even add a photo in the trade history.. ridiculous.

Just to let you know that, if you look at the contest, especially the top accounts, questions exists. So, EA's should be permitted but myfxbook first but you too should as a partner make sure that the myfxbook third party software and internet platform are secure and represent the truth and are not being easily hacked.

You wouldn't want to give free gifts or money to losers right... ? ;)

Thank you for sharing your concerns. If you feel the Myfxbook site has been hacked, please post a link showing an example of this, so it can be investigated.
Jason Rogers (jasonrogers)
Nov 27 2014 at 02:40
272 posts
amelabs posted:
eogorfx posted:
Problem with FXCM is that the EA only reacts to the Chart pricing whhich has a much wider spread than the market watch spread.
The say they will fix it but it seems that they are in no hurry to do it and it can't be a big deal.

That is incorrect. I am using EA on FXCM and it definitely uses the Market Watch prices, completely ignoring the chart prices.

amelabs posted:
eogorfx posted:

Hi Tony
Please advise how I can know or test which pricing the EA is using.
Maybe it depends on how the EA code is written?
Rimantas at ea-coder.com says that he would not use any EA on a broker who is using different price feeds for the MW and the charts!

Put this code in a script and the drag the script onto your chart

PrintFormat('HEY! bid=%f ask=%f spread=%f',bid,ask,ask-bid);

Then check your log for a message with the word HEY

Thanks for sharing this information, Tony! 😄
Tony Manso (amelabs)
Nov 27 2014 at 04:00
67 posts
HAHA! as of this writing, there are only about 100 people in the entire contest who are performing worse than me. 😲

Jason Rogers, when do you think FXCM will sponsor another Myfxbook contest? I'll be better prepared when that time comes.
Paulo Sadi (psadi)
Nov 27 2014 at 08:05
22 posts
😉

Do yours, my words Mr. Toni
Paulo Sadi (psadi)
Nov 27 2014 at 08:06
22 posts
Bang! Bang!

Stop! this is a robbery! 😈

Check this out!

- Deposits: $ 50,182.42

- Withdrawal: $ -8,901.28 (Committees Partner FXCM)

- Losses: - 24,062.78 (my fault)

- Withdrawals: - 8,901.28 = 17.74% of Deposits or 51.74%

on balance.


- Who can resist that?

Being broker is a great deal! 😇
innaig86
Nov 27 2014 at 15:53
12 posts
Good, before it didn't close a sell order when it passed the take profit (obv the price rebounded and I lost that).
Now it doesn't open a pending sell order when it hit the open price.

Reliable broker, yep.
innaig86
Nov 27 2014 at 15:54
12 posts
Again, TP passed and order still opened.

:facepalm:
Species8472
Nov 28 2014 at 12:20
30 posts
Paulo I would ask fxcm about it but I think (and I could definetly be wrong) that the withrawels as well as the additional deposits have to do the interest payments that must be made on all currency pairs daily. You need to familiarize yourself with the interest payments on overnight positions.
Paulo Sadi (psadi)
Nov 29 2014 at 11:50
22 posts
Hi, Species8472

All right with you?

I understand your placement. And I can say that I have received positive credit interest by offsetting open foreign exchange and also discounts by charging interest.

It turns out that the rates they are charged are 'unconscionable'

I live account at FxPro and not suffer heavy charges rates and comissiões as with FXCM. Pay only 'Swaps' and the 'spread' is very low.

Perhaps the closing criterion of my orders are too tight (scalping) and it generates more profit for FXCM than me.

Don (240Z)
Dec 01 2014 at 17:54
50 posts
the returns on the leaderboard are jaw dropping. thanks for a good contest FXCM
“Everybody should have a dream. What if that dream comes true?” – Jack Ma
Jason Rogers (jasonrogers)
Dec 01 2014 at 19:50
272 posts
amelabs posted:
Jason Rogers, when do you think FXCM will sponsor another Myfxbook contest? I'll be better prepared when that time comes.

Hi Tony,

I don't have info on a future contest as this time, but we'll post info on Myfxbook again if one is scheduled.
Jason Rogers (jasonrogers)
Dec 01 2014 at 20:32
272 posts
psadi posted:
Bang! Bang!

Stop! this is a robbery! 😈

Check this out!

- Deposits: $ 50,182.42

- Withdrawal: $ -8,901.28 (Committees Partner FXCM)

- Losses: - 24,062.78 (my fault)

- Withdrawals: - 8,901.28 = 17.74% of Deposits or 51.74%

on balance.


- Who can resist that?

Being broker is a great deal! 😇

Species8472 posted:
Paulo I would ask fxcm about it but I think (and I could definetly be wrong) that the withrawels as well as the additional deposits have to do the interest payments that must be made on all currency pairs daily. You need to familiarize yourself with the interest payments on overnight positions.

psadi posted:
Hi, Species8472

All right with you?

I understand your placement. And I can say that I have received positive credit interest by offsetting open foreign exchange and also discounts by charging interest.

It turns out that the rates they are charged are 'unconscionable'

I live account at FxPro and not suffer heavy charges rates and comissiões as with FXCM. Pay only 'Swaps' and the 'spread' is very low.

Perhaps the closing criterion of my orders are too tight (scalping) and it generates more profit for FXCM than me.



Hi Paulo,

There seems to be some confusion here about the 'Withdrawals' you see on your Myfxbook contest demo page. In fact, that withdrawal field includes any commissions you were charged on forex trades. With FXCM, you are trading on raw FX spreads from 10+ competing liquidity providers. I explain how the commissions work in detail in my first post on the first page of this discussion thread: https://www.myfxbook.com/community/contests/forex-contest-fxcm/840323,1

Note that the commission on a 100k standard lot trade (AKA 1.00 lots on MT4) is 100 times larger than the commission on a 1k micro lot trade (AKA 0.01 lots on MT4). Furthermore, you should consider that you've already traded about 2200.00 standard lots on your MT4 contest demo account: https://www.myfxbook.com/members/psadi/contest-psadi/1054142

In regards to FXCM's swap rates (AKA rollover interest), you will find that they are very competitive. You can view the real time rates listed as RollS and RollB by logging into Trading Station Web with your contest demo login details: https://tsweb.fxcorporate.com/
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