Feel likeI just got screwed

R

rednephilim

Was trading the Eur/USD short and attempted to get out at .2201
and got no respose so I tried again at .2203. The system crashed, and when I logged back in I found that I'd been exited at .2215 or 14 pips away from my request.

at $5 a pip I've lost $70 and I'm a little bit pissed about it. Is this shit normal?
 
Quote from rednephilim:

Was trading the Eur/USD short and attempted to get out at .2201
and got no respose so I tried again at .2203. The system crashed, and when I logged back in I found that I'd been exited at .2215 or 14 pips away from my request.

at $5 a pip I've lost $70 and I'm a little bit pissed about it. Is this shit normal?
More...
Losing money is "normal" for most people who try to trade forex.

Due to a crashed trading platform?

Hm... who is the broker (if you don't mind asking)?
 
Quote from rednephilim:

Was trading the Eur/USD short and attempted to get out at .2201
and got no respose so I tried again at .2203. The system crashed, and when I logged back in I found that I'd been exited at .2215 or 14 pips away from my request.

at $5 a pip I've lost $70 and I'm a little bit pissed about it. Is this shit normal?
More...


When you put in your trade did you have a trailing stop or stop? How much was your un-used margin? Either one will close your position automatically.

I'm with RefcoFX and have never had any problems with the trading platform. You should always use Stops, Trailing Stops and maybe a Limit on ALL your trades. And do not watch every tick.
 
I'm with GFT and my broker (account manager) who is an excellent guy called me a few minutes after he received my email -6:30 in the morning his time. He said that they will investigate the trade on their dealing floor and the very least I will get from them is a solid answer as to what happened.

The main problem is that I lost 12-14 pips before my order was executed, and by that time I would have rather not had the order at that price. I would have expected 3-5 pips of slippage at that busy time in the market, but not as many as 12! I didn't have a stop loss in effect because the market was moving very deliberately and I was giving it my full attention, so all I did was requested a sale "at market".

Are there other people who have an opinion as to how many % points of slippage are acceptable?
 
Despite that GFT has a nice platform it lacks quality perfomance especially in volatility times, for instance, during the last Greenspan's testimony. At the same time OANDA worked fine.

BTW: guys, anybody knows, how IB was working during Greenspan and trade deficit data?
 
Simply the reason why Oanda works fine during turbulent times, is because they widen the spread, which is reported on the platform and easily seen...
 
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