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Did anyone else notice this crazy spike today?
Oct 28, 2015 at 08:34
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16 Replies
Oct 28, 2015 at 08:34
I'm pretty new to trading I'd say so I'm sorry if this is something obvious that every trader knows or something, but I noticed this insane spike on USDCAD earlier today. The price dropped from 1.32679 all the way to 1.27369 and back inside one 1-minute candle. That's over 500 pips!
Is this normal? What if people were in a trade and had stop losses there, or pending limit or stop orders? It strikes me as I write this, that this could be broker specific... I am on OANDA if that provides any of you with insights or answers. I wasn't in a trade at the time so it didn't really affect me, but I'm just really curious as to what this phenomenon is.
Thanks for the help!
Is this normal? What if people were in a trade and had stop losses there, or pending limit or stop orders? It strikes me as I write this, that this could be broker specific... I am on OANDA if that provides any of you with insights or answers. I wasn't in a trade at the time so it didn't really affect me, but I'm just really curious as to what this phenomenon is.
Thanks for the help!
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forex_trader_137597
Member Since Jul 04, 2013
86 posts
Oct 28, 2015 at 11:24
That did not happen on my broker, Strange indeed, or market maker indeed.
forex_trader_137597
Member Since Jul 04, 2013
86 posts
Oct 28, 2015 at 11:26
Oanda and FxPro, Strange
Member Since Oct 26, 2015
32 posts
Oct 28, 2015 at 13:40
everyone mentions market maker as a bad thing. The idea of a market maker isnt the bad. its the bad practices an individual market maker has that makes THEM a bad market maker. LPs are market makers but everyone wants an STP or ECN Broker that is backed by a market maker, so no matter how good the broker is, its still "tainted" by market making if you want to consider all market makers bad.
Take Challenges Head On
Member Since Nov 21, 2014
3 posts
Oct 28, 2015 at 13:49
Better start looking for another broker mate :)
forex_trader_249603
Member Since May 13, 2015
81 posts
Oct 28, 2015 at 15:32
Member Since Oct 26, 2015
32 posts
Oct 29, 2015 at 10:57
USGFX also didnt ahve it. Had to get some time to check it to be sure.
Take Challenges Head On
Member Since Feb 22, 2011
4573 posts
Oct 29, 2015 at 11:55
aka_Ani posted:
I'm pretty new to trading I'd say so I'm sorry if this is something obvious that every trader knows or something, but I noticed this insane spike on USDCAD earlier today. The price dropped from 1.32679 all the way to 1.27369 and back inside one 1-minute candle. That's over 500 pips!
Is this normal? What if people were in a trade and had stop losses there, or pending limit or stop orders? It strikes me as I write this, that this could be broker specific... I am on OANDA if that provides any of you with insights or answers. I wasn't in a trade at the time so it didn't really affect me, but I'm just really curious as to what this phenomenon is.
Thanks for the help!
Isnt this during the midnight break when trading is closed and broker settle the day?
Oct 29, 2015 at 13:17
Yeah it was during the night, but trading with forex doesn't really close until the weekend right?
Also, the strangest thing - If I go back to that time spot now I don't see the spike in my OANDA live account. I still see it in my FxPro demo account though, and I'm starting to question my sanity and whether I saw it in the OANDA live account originally or only in the FxPro demo...
Also, the strangest thing - If I go back to that time spot now I don't see the spike in my OANDA live account. I still see it in my FxPro demo account though, and I'm starting to question my sanity and whether I saw it in the OANDA live account originally or only in the FxPro demo...
Member Since Oct 26, 2015
32 posts
Oct 29, 2015 at 13:17
I dont know about your broker, but mine is 24/7
Take Challenges Head On
Member Since Feb 22, 2011
4573 posts
Oct 29, 2015 at 13:18
aka_Ani posted:
Yeah it was during the night, but trading with forex doesn't really close until the weekend right?
Also, the strangest thing - If I go back to that time spot now I don't see the spike in my OANDA live account. I still see it in my FxPro demo account though, and I'm starting to question my sanity and whether I saw it in the OANDA live account originally or only in the FxPro demo...
I am not with Oanada as they sucks but many brokers actually close for 5 min every day
Member Since Oct 26, 2015
32 posts
Oct 29, 2015 at 14:58
yea mine doesn't even pause for that as it could be a signal flag for market makers (the bad kind) adjusting things.
Take Challenges Head On
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