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Discussion of the Forex Contest Squared Financial 2014 Forex Contest
forex_trader_37185
Member Since May 20, 2011
13 posts
Aug 25, 2014 at 07:08
Not great for Squared Financial if they were looking to show they were fair and transparent! I certainly won't be opening a live account.
I would like to see them re-instate all accounts to the balance before Sunday's market open.
I would like to see them re-instate all accounts to the balance before Sunday's market open.
Aug 25, 2014 at 09:00
Hi trad@rs,
Really strange what happened with XAU/USD. I looked at 8 different brokers and only happened with Squared. If they do it on demo account what will they do on real account.
This contest should be cancelled inmediately...
At least I learned one thing.... NOT OPENING A REAL ACCOUNT WITH THIS BROKER.
See you all in the next contest
Nordic
Really strange what happened with XAU/USD. I looked at 8 different brokers and only happened with Squared. If they do it on demo account what will they do on real account.
This contest should be cancelled inmediately...
At least I learned one thing.... NOT OPENING A REAL ACCOUNT WITH THIS BROKER.
See you all in the next contest
Nordic
Member Since Aug 24, 2011
5 posts
Aug 25, 2014 at 09:00
TeamJunTrader posted:
OMG!!!😲
We are the same.
Member Since Dec 07, 2012
1 posts
Aug 25, 2014 at 13:39
The spread for gold was opened out 20 mins from the open .It reached 1278 then when to 2240 at the maximum taking most people out.
Aug 25, 2014 at 14:58
Hi warriors 😈,
please... please .. please, can anyone help with this ? it's related to spread also.
This is one of many examples, another there : http://www.myfxbook.com/community/trading-systems/contest-1rf4n/804502,1
Thank for any help to understand it. 😁
please... please .. please, can anyone help with this ? it's related to spread also.
This is one of many examples, another there : http://www.myfxbook.com/community/trading-systems/contest-1rf4n/804502,1
Thank for any help to understand it. 😁
Attachments:
Aug 25, 2014 at 18:19
Oh well, not a suprise for a market maker people. I work for a market maker for a year before I quit as I can't live with their unethical yet legal business practices. One thing you can be sure, as market maker, the broker make the market, they will make the price so that they will not lose too much as they are taking the other side of the trade.
Not all market maker are like this though because some do have risk management by mitigating the risk of losing trades to their LP. Market maker make profits from our losing trades when they absorbed the order. Your loss is my gain, and my loss is your gain and since there is no settlement for the trades, we all risk depleting capital to the point of margin call and stop-out.
Moral of the story:
1. preferrably trade real account with ECN, True STP or Exchange like brokers.
2. if u have to trade with a market maker for whatever reasons, maybe education for eg, make sure they are established for more than 10 years. why 10? coz 10 years is long enough to prove that the broker is fair and has been filtered by market participants as simply said "nobody is going to buy bad apples" and "you can fool some of the people sometimes, but not most of the times"
3. never risk more than what we can afford to lose. Meaning we still in business even when we lose those trades, because this sure can happen in real trading as I have observed again and again when I was with a market maker.
hope this helps.
Not all market maker are like this though because some do have risk management by mitigating the risk of losing trades to their LP. Market maker make profits from our losing trades when they absorbed the order. Your loss is my gain, and my loss is your gain and since there is no settlement for the trades, we all risk depleting capital to the point of margin call and stop-out.
Moral of the story:
1. preferrably trade real account with ECN, True STP or Exchange like brokers.
2. if u have to trade with a market maker for whatever reasons, maybe education for eg, make sure they are established for more than 10 years. why 10? coz 10 years is long enough to prove that the broker is fair and has been filtered by market participants as simply said "nobody is going to buy bad apples" and "you can fool some of the people sometimes, but not most of the times"
3. never risk more than what we can afford to lose. Meaning we still in business even when we lose those trades, because this sure can happen in real trading as I have observed again and again when I was with a market maker.
hope this helps.
Simply Profitable!
Aug 25, 2014 at 18:19
you may argue, well this is demo..but I tell you what, since the feed is the same to both real n demo, which I believe in this case, that is why we have this problem..you can open a real account with them n check the feed to confirm.
Simply Profitable!
Member Since Jan 24, 2012
53 posts
Aug 25, 2014 at 19:01
Looking at other MT4 Brokers on Sunday the gap seemed to be around 65 pips on Gold (XAUUSD), so it would be interesting to find out the reason why Squared Financials platform manage about 300 pips ?
