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Does anyone have experience with REFCO/FX or FXCM 'dealing stations'?
I am wondering how efficient they are regarding the following:
1) Let's say yesterday, Oct. 8th- Friday, I had an order in to purchase
EUR at 1.2285. I had the order in the DEMO platform 5 minutes before the
unemployment report came out. I also had a LIMIT (exit) entered at 1.2345.
So, now the report is out, and the low I think I saw on the platform was an
offer at my price. Now the report is out and the EUR shoots up to 1.2350-60
ish. I did NOT receive confirmation of my purchase for some time. When I
did receive it, the position showed up in my "Open Positions" window. What
did NOT show up was any evidence that my target for exit, or limit had been
filled. Usually an order that is being worked/filled shows up in a
highlighted blue hue in the "Orders" window.
So I saw it trading up to 1.2370. Not seeing a fill on the limit, I hit the
"Close" area on the position in the "Open Positions" window. Now I am
wondering if I was double-filled, and net short. Well, after a while I got
a confirmed exit- at 1.2370- my clicking on the position had closed the
trade- and, my exit (LIMIT) that was in there with the order when I put it
in-before the move- of 1.2345 never was seen or heard from again...
2) Is this a common occurrance?
Does anyone here have any experience with Real $$ on these platforms, and,
if so, have you ever had problems with getting a fill on your price (they
say they "guarantee" a fill if your order is in there- for entry, limits AND
stops.
3) Have you ever NOT been filled on an ENTRY?
4) Have you ever NOT been filled on an EXIT?
5) Have you ever had a STOP in that was either a) run over with nothing
done
b) filled at a price other than where your stop was ?
6) Have you ever "mouse clicked" on an order, say a MARKET order and been
screwed? Slipped? Not filled? Filled, but unsure if filled- and had to wait
2,3,4, 10 minutes while you saw were up $10K, then down $15K when you
finally find out that yes, you DO have the position???AAARG! you know what I
am talking about!
7) Have you ever had ANY PROBLEMS? Or are there any 'tips' or things to
avoid, or things to do to ensure that you don't get totally , you know, put
out of business or have some HUGE loss due to the "Platform"? Have you
ever thought beyond a preponderance of a doubt that you didn't get your fill
because the the firm didn't want to give you your trade because they knew it
was going to go your way? (please don't think I am some kind of 'conspiracy'
theorist [i do have many friends on the floors of different exchanges- now
I have heard stories that would- well, never mind those fictional stories..]
8) If I am trading real $, of course, I would have my ENTRY, STOP and LIMIT
in the order before it was placed and filled on the entry. Then I would do
a printout of my OUTSTANDING ORDERS, (timestamped of course by the
Refco/fxcm servers) would that do any good?
T.I.A. for all input, or any suggestions of any better platform or way to
trade the FOREX.
I am enjoying this beautiful fall weekend!
I have been trading the demo for a while, as I have been doing research only
on the Forex markets since May of this year, and am getting ready to go real
$.
I just need to know how best to protect myself against those evil 'server
problems' yeah.right.
Best Wishes,
Marc Miller
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