To use chat, please login.
Back to contacts

Forex Excidus™ v2.2 (By ForexZii )

The user has deleted this system.

Forex Excidus™ v2.2 Discussion

Enrique
ForexZii
Oct 29 2015 at 06:48
47 posts
goode posted:
Maybe because fxcm lost too much because of CHF at the beginning of the year.You can search for more info.


Thank you Goode!. in my opinion if FXCM rejects orders during news then they are a 'Market Maker' because they are not passing market liquidity providers prices to traders. before and during news prices moves very fast and FXCM do not have enough chance to adjust prices to orders for FXCM favorite price. moreover it was not a CHF trades. I was thinking to open account it FXCM but now no chance. I will consider FxPro for my 2nd account 😉

Jason Rogers (jasonrogers)
Oct 29 2015 at 22:36
272 posts
ForexZii posted:
jasonrogers posted:
ForexZii posted:
@jasonrogers thanks for the good information, while you are roaming around on this site can you give us a view of your brokerage business the cons and pros of FXCM ? as honest as possible.


@ForexZii it would be my pleasure to discuss our services with you. I don't want to take this discussion thread off topic, so please post any questions you have about FXCM in our discussion thread: https://www.myfxbook.com/reviews/brokers/fxcm/11,9


@jasonrogers FXCM, Can you explain why trades were rejected to open during and after the FED's rate news ?

This experience is noticeable whenever try to open a trade during a sharp price movements and was noticed very often. Only 'Market Makers' brokers do such a practice. please explain.


@ForexZii you have misinterpreted the 'off quotes' message you received on our MT4 platform. For the record, FXCM offers you No Dealing Desk (NDD) forex execution. There is an important distinction between re-quotes that can occur with other brokers, and the 'off quotes' message you encountered with us.

Re-quotes occur at other brokers when a trader makes an order for a specified price, but the order is manually rejected by the broker's dealing desk. This is done because filling the order at the original price would mean a loss for their dealing desk. The dealer sends a new price back to the trader, often a worse price, which they can either accept or reject. Re-quotes slow down your trading.

While it's highly unlikely that you would ever receive a re-quote from another broker that offers you a better price than you requested, here are some stats regarding our execution which show that FXCM clients receive price improvements just as often as they receive negative slippage: https://bit.ly/1KWaV8g

In fact, on market orders to open and close trades, our client receive price improvements slightly more often than negative slippage. That's because the Maximum Deviation feature on the MT4 platform (known as the Market Range feature on our Trading Station) helps our clients minimize negative slippage while maximizing positive slippage.

* 76.2% of all orders had NO SLIPPAGE.
* 13.5% of all orders received positive slippage.
* 10.2% of all orders received negative slippage.
* Over 58% of all limit and limit entry orders received positive slippage.
* 52% of all stop and stop entry orders received negative slippage.

There are no re-quotes with FXCM. If you received an 'off quotes' message on our MT4 platform, then it means the price that was available in the market to execute your order was outside the Maximum Deviation range that you specified for the order. The key advantage of this Maximum Deviation feature on MT4 over the re-quotes that can occur with other brokers is that FXCM's platforms let you control how much negative slippage you are willing to tolerate, while still giving you the opportunity to maximize the positive slippage or price improvements you receive. Also, our platforms helps you avoid the delays that can occur with re-quotes, which is especially important if you trade at times when prices are changing quickly, such as during a news event when other brokers are most likely to re-quote you.

The 'off quotes' messages you encountered are an indication that the price where you placed your order is no longer available. For example, you may have placed an order to buy EUR/USD at 1.3670, but the price is now 1.3672. If your Maximum Deviation setting on the MT4 platform is set to less than 2 pips, then your order will not be filled, and you will get the 'off quotes' message. The Maximum Deviation setting (known as Market Range on our Trading Station platform) allows you to specify how much negative slippage you are willing to tolerate on your orders. If the price currently available in the market is within your specified tolerance, then your order will be filled.

If you find you are getting the 'off quotes' message frequently, you might want to consider increasing your Maximum Deviation as shown above. Since FXCM uses 5-digit pricing (fractional pips), every 10 points for the Maximum Deviation is equivalent to one pip. For example, if you adjust your max dev to 30, that would equate to price range of 3 pips.

To recap, the key advantage of our Market Range feature (known as the Maximum Deviation feature on MT4) over the re-quotes that can occur with other brokers is that FXCM's platforms let you control how much negative slippage you are willing to tolerate, while still giving you the opportunity to maximize the positive slippage or price improvements you receive. Also, our platforms helps you avoid the delays that can occur with re-quotes, which is especially important if you trade at times when prices are changing quickly, such as during a news event when other brokers are most likely to re-quote you.

Jason Rogers (jasonrogers)
Oct 29 2015 at 22:39
272 posts
ForexZii posted:
I was thinking to open account it FXCM but now no chance.


@ForexZii do you mean to say that you do not currently have a live account with FXCM? Were you trading on a demo account when you received the 'off quotes' message? If so, that only confirms that the reason for the message is as I described in my previous post and not for the reasons you suggest.

Jason Rogers (jasonrogers)
Oct 29 2015 at 22:41
272 posts
goode posted:
Maybe because fxcm lost too much because of CHF at the beginning of the year.You can search for more info.


Here's more info for those who are interested.

On January 15, 2015, the Swiss National Bank (SNB) caused a flash crash that lead to historic dysfunction never seen before in the FX markets when it announced that it was completely (not gradually) removing the 1.2000 self-imposed floor on the EUR/CHF exchange rate: https://www.reuters.com/article/2015/03/12/idUSnHUGVGJlx+fc+ONE20150312

Below is an excerpt from a Q&A our CEO Drew Niv held with Finance Magnates about what happened:

____________________________________________________

* What happened on January 15th after the SNB announcement? What was the immediate impact of the SNB announcement on the company’s systems?

At the time of the SNB announcement over 3,000 FXCM clients held slightly over $1 billion in open positions on EUR/CHF. Those same clients held approximately $80 million of collateral in their accounts. As you know this was the largest move of a major currency since currencies started floating 1971.

The EUR/CHF move was 44 standard deviation moves, while most risk management systems only contemplate 3-6 standard deviations. The moved wiped out those clients’ account equity as well as generated negative equity balances owed to FXCM of over $225 million. We believe that the FXCM system operated properly during this event.

The caveat of our no dealing-desk execution system is that traders are offset one for one with a liquidity provider. When a client entered a EUR/CHF trade with FXCM, FXCM Inc. had an identical trade with our liquidity providers. During the historic move, liquidity became extremely scarce and shallow, which affected execution prices. This liquidity issue resulted in some clients having a negative balance.

While clients could not cover their margin call with us we still had to cover the same margin call with our banks. When a client profits in the trade FXCM gives the profits to the customer, however, when the client is not profitable on that trade FXCM Inc. ends up having to pay the liquidity provider.

FXCM ended with a regulatory capital shortfall. Accordingly, FXCM needed to get a loan to cover this balance, which it did. For anyone that still thinks FXCM is running an FX dealing desk, we have now demonstrated that such is not the case.


* Why do you think many people traded EUR/CHF with FXCM?

Because we are a no dealing-desk broker and offset each trade one-for-one with our liquidity providers, and only make money on trades not customer losses. We published a study a few years ago called “traits of successful traders” that looked at FXCM traders over a long period of time and their general behavior to find what was destructive behavior to stay away from and what worked for clients.

The study focuses on what the majority of profitable traders did to increase their odds of success. What the study found was that traders who traded during quiet range-bound market hours like Asian hours OR that traded rang- bound low volatility currency pairs tended to be more profitable.

Obviously many of our competitors who are on the opposite side of their clients’ trades did not find this trade to be helpful to their bottom line, as they lose money when traders profit. We saw many of the dealing desk firms begin to increase overnight rollover cost as well as raise margin requirements to get these trades off their system and that’s why FXCM and other STP brokers had much bigger exposure.


* Why did FXCM require an emergency loan with such tough terms?

As a regulated broker we are required to notify our regulators in a timely manner when any event occurs that may be deemed sensitive to clients. When we notified the regulators, they required FXCM Inc.’s regulated entities to supplement their respective net capital on an expedited basis.

We explored multiple debt and equity financing alternatives in an effort to meet the regulator’s deadline. The deal we ended up doing with Leucadia was the only deal that could and would happen in the very short timeframe we were given by the regulators. The CEO and the president of Leucadia were here in the office working on the deal.

It was a tall order for someone outside of the FX industry to come in and write a $300 million dollar check. This was the type of thing only top management could do. But they see the sustainability of FXCM, and that was everyone’s end goal. We really are very thankful to Leucadia. The deal enables us to live and fight another day and gives us time to build shareholder value in the future.
____________________________________________________


Since we are a publicly-traded company (NYSE ticker: FXCM) the details of our loan from Leucadia are well known. By contrast, most other forex brokers are privately-held companies, so it's hard to know how much debt they have on their books or the state of their finances. We are repaying the Leucadia debt with proceeds from the sale of non-core assets.




As you can see above, we sold our FXCM Japan for $62.2 million. At that time, our CEO Drew Niv said the following:

'FXCM is pleased with how our debt reduction plan is proceeding. We are ahead of plan and the results of the FXCM Japan sale exceeded our expectations. With all the increased attention to our other properties, we are expecting robust and competitive auctions for the other non-core assets we have targeted to sell.'


As a further update last month, we announced the completion of our sale of FXCM Hong Kong to Rakuten Securities for a total consideration of approximately $38 million. $203 million remains outstanding as of our latest SEC filing on October 8, 2015, which we expect to repay in the next 6 months: https://bit.ly/1GySNzu

It's worth noting that despite the events of January 15th, FXCM's capitalization remains at levels similar to before the SNB event. Since you live in the US, below are the latest financial data regarding the capitalization of our US entity as compared to other US-regulated brokers:




The column that says 'Total Amount of Retail Forex Obligation' shows the amount of money retail traders have on deposit with FXCM US which is over 50% greater than what is on deposit with the number 2 and number 3 retail forex brokers in the US.

Enrique
ForexZii
Oct 29 2015 at 22:54
47 posts
@jasonrogers

Thank you Jason Rogers for the details, make no mistake I will read carefully to find out the reason for blocking trades even they were not touching the CHF at all.

Enrique
ForexZii
Oct 30 2015 at 06:23
47 posts
@goode @jasonrogers @MrTD @tommy2308

Hello everyone, 😄

Today the ForexZii website have been launched at https://ForexZii.com

I will keep updates of Excidus system there with downloads files and details of the new Excidus v2.3 and above. The ForexZii.com is for everyone, traders, brokers, trading tools and discussions. Everyone is welcome.

If you join please search for Enrique or @enrique and add me to your friends list. I will be watching with you the performance of Excidus here on MyFxBook. this site 'MyFxBook' is the best analyses site and I'm thankful for the efforts MyFxBook site put together to help the Forex community.

Thank you

Enrique
ForexZii
Oct 30 2015 at 11:58
47 posts
I would like to thank Goode @goode for his point about the DD.

On the analyst stats of Excidus v2.2 it shows the DD is 11% but the true DD was never more than 5.2%, The DD appears 11% because at the moment of closing trades the MyFxBook server catches the red trades first and opt the 11% based on the red trades before the close of the green trades.

I would like to inform MyFxBook technical team to look at this small bug and maybe find a more accurate solution. or correct me if I'm wrong.

So if you are doing analyses for your trades, do not be thrilled by a more than actual DD % it is not your trade, it is a small bug in MyFxBook. but it can be related to submitting statements using the MyFxBook EA because of the natural high Latency.

I would like Tomas @tommy2308 to give his feedback if possible here or at https://ForexZii.com website.

Thank you

Enrique
ForexZii
Nov 03 2015 at 07:19
47 posts
Excidus v2.3 is ready to be deployed

Watching Excidus v2.2 performance and in comparison to v2.1 is like watching a turtle walking down a rocky road. 😁

v2.2 approach was to lower DD from the max of 5.3% to 3.2% but that came with the price of slower trading.
Excidus was updated over the weekend to v2.3 and is ready to be deployed prior end of open trades.

What new in Excidus v2.3:
1. Improved trade speed
2. Lower DD to 3.1%
3. Ability to Lock profitable trades
4. Ability to Unlock less profitable trades
5. Ability to reposition orders in compliance to locked trades
6. Small execution bug fixed

Will be watching v2.3 performance as soon it is deployed on Real and Demo accounts

Cheers

Enrique
ForexZii
Nov 03 2015 at 07:50
47 posts
@William82
@mohideen171
@ddr555
@BigSteve
@tellanup

Off The Topic
=========

I would like to bring to everyone's attention that 'KeltnerPRO - Jared (by keltnerpro)' have blocked me from posting proofs of their SCAM which is sponsored by SynergyFX on the KeltnerPRO discussions.

Well!, it is not a big deal, but blocking people who speak the truth on an open discussion is kind of act of desperation to cover up their SCAM and keep on fooling innocent traders.

SynergyFX and KeltnerPRO - Jared (by keltnerpro) are operating and sponsored by SynergyFX, a broker with a very bad reputation and a history of tricking traders.

When I found their SCAM I looked deep to their statement of the fake 'REAL' account, I contacted both SynergyFX the broker and KeltnerPRO the vendor, and I have tracked the source of the communication and as expected I found both replays came from the same source he broker and the vendor. both in the same office.

On KeltnerPRO discussions there are many fake traders and their job is to support the KeltnerPRO - Jared (by keltnerpro) EA aggressively as part of a big SCAM campaign. some of example fake traders are (slayeraeb, mobydick, FXtrader2010).

I have no personal benefit to spot their SCAM but I suppose every trader deserves to not be cheated by anyone. broker or a vendor.

Using a childish tactic of block traders as me and others when they express their big doubts on the EA, then start asking them to show proofs while they know they are blocked to show innocent traders no proof, is kind of a SCAM tail and not acceptable specially if members are complying to MyFxBook. while Vendor and his fake supporters are not complying to MyFxBook rules.

I hope KeltnerPRO - Jared and SynergyFX will refrain from expanding their SCAM and I wish every Forex trader a safe and pleasant trading.

Cheers
Enrique

Tomas Rodriguez Doherty
tommy2308
Nov 03 2015 at 07:58
88 posts
ForexZii posted:
I would like to thank Goode @goode for his point about the DD.

On the analyst stats of Excidus v2.2 it shows the DD is 11% but the true DD was never more than 5.2%, The DD appears 11% because at the moment of closing trades the MyFxBook server catches the red trades first and opt the 11% based on the red trades before the close of the green trades.

I would like to inform MyFxBook technical team to look at this small bug and maybe find a more accurate solution. or correct me if I'm wrong.

So if you are doing analyses for your trades, do not be thrilled by a more than actual DD % it is not your trade, it is a small bug in MyFxBook. but it can be related to submitting statements using the MyFxBook EA because of the natural high Latency.

I would like Tomas @tommy2308 to give his feedback if possible here or at https://ForexZii.com website.

Thank you


Yes, What kind of feedback do you want, I did not understand well this post, sorry. I see the DD has not reached 11%, Just accounted for closed trades, partially, Then a good tactic would be to close trades in a different order probably , but the best would be if MyFxBook would consider tracking DD correctly. :)

Please login to comment .