***alpari Broker.is This A Bs Response?***

Quote from HFT_Board:

Youre right its part of the game, I gotta go through the sharks in FX but I think once I can trade FX consistantly profiting then I will be able to bring that skill to E-minis, Options, Futures, Equites with less of that explosive volitility. In the long run Ill make more than what I might lose due to the learning curve, plus I like the idea of group trading to create situations.
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If I understand him correctly, ADK was suggesting that you trade the currency markets via futures instead of spot/cash FX. As someone who's also lost money to "strange" behavior while trading spot, I would echo this advice. Check out the CME contracts here:

http://www.cmegroup.com/trading/fx/
 
Quote from HFT_Board:

Youre right its part of the game, I gotta go through the sharks in FX but I think once I can trade FX consistantly profiting then I will be able to bring that skill to E-minis, Options, Futures, Equites with less of that explosive volitility. In the long run Ill make more than what I might lose due to the learning curve, plus I like the idea of group trading to create situations.
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Good luck man

I have found the edge in FX leaves you quicker than you think in most cases.

90% of anyone I am guessing who has ever traded FX knows exactly the pain you felt today.

It is a lesson. Shame on you if it fools you two times.
 
What I have found out the hard way with Oanda (and I think it is the same with other forex brokers - even ECNs) is that a stop loss in forex is not the same, procedurally, as a stop loss in stocks.

In stocks, a stop order tells the broker "when a trade is crossed at [x] price, then execute a market order."

For forex, a stop order means (assuming you are protecting a short position by setting a long stop) "when the ask price hits [x], then execute my order at the ask." Alpari probably blew out the spread seconds before the jobs report, and the ask price hit your stop.

If you want free data, Dukascopy has tick data you can go over for that day. News trading is really crazy.
 
Quote from HFT_Board:

This happened this morning I just want some opinions/advice if what he is saying has any truth because he is saying the bid/ask was 86.034/86.121 which means a spread of 8.7 pips, I find that hard to believe with the USD/JPY. If anyone knows anyways to check bid/ask prices please feel free to share. It may also help anyone in the future who recieves a similar response from there broker.(email below)


On Fri, Aug 6, 2010 at 3:52 PM, Dispute <dispute@alpari-us.com> wrote:

Dearxxxxxxx,



After review of your dispute for ticket 1683423 we have come to a conclusion. Please remember that the charts are indicative of the bid price. When you are in a sell position you must close the position by buying on the ask price. The difference between the bid/ask is the spread. During the time of execution there was major US news coming out, Non-Farm Payrolls. We have floating spreads and during times of high volatility the spreads will reflect the market conditions. Please take into account the news and the risk you take trading during times of news. When your ticket was closed due to your stop loss being executed the USDJPY was trading at 86.034/86.121 (bid/ask). We apologize for e-mailing instead of calling but wanted to ensure you received a response in as timely a manor as possible.



In conclusion we have determined that ticket 1683423 is a valid ticket and was properly executed.







If you have any additional questions please do not hesitate to contact us.



Best regards,

Compliance Department

Alpari (US), LLC

NFA ID: 0379678

14 Wall Street, Suite 5H

New York, NY 10005

Tel: +1 646.825.5760 or 1.877.ALPARI 1 (toll-free)

Fax: +1 646.825.5761

Dispute@alpari-us.com

www.alpari-us.com



From: dispute@alpari-us.com [mailto:dispute@alpari-us.com]
Sent: Friday, August 06, 2010 10:49 AM
To: dispute@alpari-us.com
Subject: Customer dispute received for 205404



Account Name: xxxxxx
Account Number: xxxxxx
Email Address: xxxxxx@gmail.com
Order/Ticket Number: 1683423/
Description of dispute: Hello, I placed a .05 usd/jpy sell order at 85.861 this morning 7:53am EST with a stoploss of 86.10 and take profit of 85.500. I came into work to check my account and saw I had been stopped out before my stoploss of 86.10. This is an issue becuase I was erroneously exited from a trade that hit my take profit of 85.5. I have checked several different charts and prices and have found that usd/jpy did not hit 86.10 after my trade. I would not file this dispute if I felt it wasnt a legitamite claim if you could contact me by phone I would prefer that method of communication

I XXXX out my personal information
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Hi HFT_Board,

You asked for opinions/advice, so I hope you won't take offense by my post. There is no malicious intent on my part.

You shouldn't be surprised that you were stopped out, since your stop was relatively tight for NFP. Instead of blaming your broker, you should be more critical of your own approach to trading. The vast majority of traders would be better off sitting on the sidelines during NFP, since it's a highly specialized skill to be able to trade it effectively.

The fact that you were surprised to realize that the spread on USD/JPY could widen to 8.7 pips with a retail broker like Alpari during NFP tells me that you lack the expertise necessary to trade NFP effectively.

Again, my words may sound harsh, but I'm only offering my opinions/advice, since you asked. No hard feelings.


BB
 
Quote from HFT_Board:

This happened this morning I just want some opinions/advice if what he is saying has any truth because he is saying the bid/ask was 86.034/86.121 which means a spread of 8.7 pips, I find that hard to believe with the USD/JPY. If anyone knows anyways to check bid/ask prices please feel free to share. It may also help anyone in the future who recieves a similar response from there broker.(email below)


On Fri, Aug 6, 2010 at 3:52 PM, Dispute <dispute@alpari-us.com> wrote:

Dearxxxxxxx,



After review of your dispute for ticket 1683423 we have come to a conclusion. Please remember that the charts are indicative of the bid price. When you are in a sell position you must close the position by buying on the ask price. The difference between the bid/ask is the spread. During the time of execution there was major US news coming out, Non-Farm Payrolls. We have floating spreads and during times of high volatility the spreads will reflect the market conditions. Please take into account the news and the risk you take trading during times of news. When your ticket was closed due to your stop loss being executed the USDJPY was trading at 86.034/86.121 (bid/ask). We apologize for e-mailing instead of calling but wanted to ensure you received a response in as timely a manor as possible.



In conclusion we have determined that ticket 1683423 is a valid ticket and was properly executed.







If you have any additional questions please do not hesitate to contact us.



Best regards,

Compliance Department

Alpari (US), LLC

NFA ID: 0379678

14 Wall Street, Suite 5H

New York, NY 10005

Tel: +1 646.825.5760 or 1.877.ALPARI 1 (toll-free)

Fax: +1 646.825.5761

Dispute@alpari-us.com

www.alpari-us.com



From: dispute@alpari-us.com [mailto:dispute@alpari-us.com]
Sent: Friday, August 06, 2010 10:49 AM
To: dispute@alpari-us.com
Subject: Customer dispute received for 205404



Account Name: xxxxxx
Account Number: xxxxxx
Email Address: xxxxxx@gmail.com
Order/Ticket Number: 1683423/
Description of dispute: Hello, I placed a .05 usd/jpy sell order at 85.861 this morning 7:53am EST with a stoploss of 86.10 and take profit of 85.500. I came into work to check my account and saw I had been stopped out before my stoploss of 86.10. This is an issue becuase I was erroneously exited from a trade that hit my take profit of 85.5. I have checked several different charts and prices and have found that usd/jpy did not hit 86.10 after my trade. I would not file this dispute if I felt it wasnt a legitamite claim if you could contact me by phone I would prefer that method of communication

I XXXX out my personal information
More...
I want to know whether alpari-us is reliable? can i set up an account of this bank?
 
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