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audcad spread widening
Nov 21, 2016 at 11:34
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8 Replies
Členem od Jun 01, 2016
1 příspěvků
Nov 21, 2016 at 11:34
As bizzare as at may seem. Lost 50k in last few hours due to the sharp move in the audcad. im 100% sure my broker screwed me and wiped out my account as i was getting profitable. I want to know if anyone else lost or made anything due to this sharp move. would appreciate replies from fellow traders...
Členem od Nov 14, 2015
315 příspěvků
Nov 21, 2016 at 17:16
It has been volatile, but I can't see any extraordinary wide spread over at pepperstone.
Členem od Jun 08, 2014
104 příspěvků
Nov 21, 2016 at 22:59
rokie2318 posted:
As bizzare as at may seem. Lost 50k in last few hours due to the sharp move in the audcad. im 100% sure my broker screwed me and wiped out my account as i was getting profitable. I want to know if anyone else lost or made anything due to this sharp move. would appreciate replies from fellow traders...
The problem was that you overleveraged and your broker took that opportunity to screw you . Try leverage 1:5
Often , the best trade is no trade at all
Členem od Jan 25, 2016
39 příspěvků
Nov 22, 2016 at 14:45
tranle447 posted:rokie2318 posted:
As bizzare as at may seem. Lost 50k in last few hours due to the sharp move in the audcad. im 100% sure my broker screwed me and wiped out my account as i was getting profitable. I want to know if anyone else lost or made anything due to this sharp move. would appreciate replies from fellow traders...
The problem was that you overleveraged and your broker took that opportunity to screw you . Try leverage 1:5
Well, you cannot simply change your leverage just like that whenever you like, at least with the major brokers...
Členem od Jan 25, 2016
39 příspěvků
Nov 22, 2016 at 14:48
rokie2318 posted:
As bizzare as at may seem. Lost 50k in last few hours due to the sharp move in the audcad.
It does not seem bizarre, it seems quite crazy to me! This reminds me about the flash crashes when even the stop loss could not save you, but as already said - there were no major volatility when looking at h1 charts. When did this happen to you? What was the size of your order and the leverage?
Členem od May 17, 2013
33 příspěvků
Nov 23, 2016 at 04:22
(Upravené Nov 23, 2016 at 04:23)
I am assuming you posted the details of your situation over at FPA. Based on specific information, I would think what the broker did is highly contentious. Whether you have any practical recourse against your broker is another matter given the jurisdictional authority. The fact is your position was stopped out based on a spread of at least 220 pips. relative to where trades were taking place during that session and immediate sessions would suggest something that is highly irregular. Your case is an example of why choice of broker and jurisdictional oversight is important.
Přílohy :
Členem od Mar 25, 2015
70 příspěvků
Nov 23, 2016 at 09:32
Another case of stop hunting done by a dealing desk I think. I completely agree with Dove_Services about the importance of selecting your broker.
Členem od Nov 14, 2015
315 příspěvků
Nov 23, 2016 at 09:51
Dove_Services posted:Odd indeed, I tried looking over my tick data at 3 bigger australian brokers, and neither have this.
I am assuming you posted the details of your situation over at FPA. Based on specific information, I would think what the broker did is highly contentious. Whether you have any practical recourse against your broker is another matter given the jurisdictional authority. The fact is your position was stopped out based on a spread of at least 220 pips. relative to where trades were taking place during that session and immediate sessions would suggest something that is highly irregular. Your case is an example of why choice of broker and jurisdictional oversight is important.
May I ask what broker this is?
Členem od May 17, 2013
33 příspěvků
Nov 23, 2016 at 10:37
stian posted:Dove_Services posted:Odd indeed, I tried looking over my tick data at 3 bigger australian brokers, and neither have this.
I am assuming you posted the details of your situation over at FPA. Based on specific information, I would think what the broker did is highly contentious. Whether you have any practical recourse against your broker is another matter given the jurisdictional authority. The fact is your position was stopped out based on a spread of at least 220 pips. relative to where trades were taking place during that session and immediate sessions would suggest something that is highly irregular. Your case is an example of why choice of broker and jurisdictional oversight is important.
May I ask what broker this is?
I believe the broker is JOF licensed in Vanuatu. I think the problem with artificial spreads is that it does not necessarily have to be transacted and hence the client may be at the mercy of the broker. If the broker is unregulated or the regulatory regime is weak, there is no practical recourse. It always amaze me why do people go for brokers that are regulated by highly questionable jurisdictional authority.
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