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Did anyone else notice this crazy spike today?

aka_Ani
Oct 28 2015 at 08:34
3 príspevkov
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!

Prílohy:


DCT Financial Software (timt)
Oct 28 2015 at 09:50
1 príspevkov
I spotted it on FxPro demo account as well, these things happen but its scary for sure!

Tomas Rodriguez Doherty
tommy2308
Oct 28 2015 at 11:24
88 príspevkov
That did not happen on my broker, Strange indeed, or market maker indeed.

Tomas Rodriguez Doherty
tommy2308
Oct 28 2015 at 11:26
88 príspevkov
Rivalrytrade (dentrade)
Oct 28 2015 at 13:35
19 príspevkov
Hi Aka,

I am with IC Markets (live account) and i could not find this spike, maybe it was a bug in your system?



Michael Bai (michaelbai)
Oct 28 2015 at 13:40
33 príspevkov
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.

DrVodka
Oct 28 2015 at 13:49
297 príspevkov
I have PX pro real account and i had USd/cad trade last nignt ,but dindt see the spike . must be on demo account only

SteadyCaptureFx
Oct 28 2015 at 13:49
3 príspevkov
Better start looking for another broker mate :)

HalleyFX
Oct 28 2015 at 15:32
83 príspevkov
Ilyes Negadi (Ilyezz)
Oct 28 2015 at 15:51
28 príspevkov
strange, i never seen this before!
it did not happen on Hotforex

Pedro Mejias (darth7)
Oct 29 2015 at 07:06
3 príspevkov
I'm on FXPRO Real account, and that did not happen.

Michael Bai (michaelbai)
Oct 29 2015 at 10:57
33 príspevkov
USGFX also didnt ahve it. Had to get some time to check it to be sure.

vontogr (togr)
Oct 29 2015 at 11:55
4862 príspevkov
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?

aka_Ani
Oct 29 2015 at 13:17
3 príspevkov
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...

Michael Bai (michaelbai)
Oct 29 2015 at 13:17
33 príspevkov
I dont know about your broker, but mine is 24/7

vontogr (togr)
Oct 29 2015 at 13:18
4862 príspevkov
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

Michael Bai (michaelbai)
Oct 29 2015 at 14:58
33 príspevkov
yea mine doesn't even pause for that as it could be a signal flag for market makers (the bad kind) adjusting things.

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