FXCM Discussion

Live Webinar on Price Action + Super-Tight Spreads

This Wednesday, FXCM will be hosting a live webinar on Price Action, a trading technique that can help you read the market and make trading decisions from chart-based price movement, rather than relying on indicators. You will also learn how you can use our super-tight raw FX spreads in combination with a Price Action strategy.


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In some instances, accounts for clients of certain intermediaries are subject to a markup.​


This live webinar will be offered at 3 different times this Wednesday.

 
Trading Hours for End of Daylight Savings Time in the US

Hi Everyone,

Daylight Savings Time will end in the US on Sunday, November 2nd. That means the trading hours for CFDs that follow US market times will shift by one hour starting next week. I've highlighted the changes below in red.

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Forex Trading Hours

In terms of New York Time, the trading desk will still open at 5pm on Sunday and close at 5pm on Friday as always. However, since New York Time will shift this weekend from GMT-4 to GMT-5, the trading desk hours will also shift by one hour in GMT terms. Starting next week, the trading desk will open at 22:00 GMT on Sunday and close at 22:00 GMT on Friday​


A special note for all MT4 clients on our New York Close servers

The time zone on our New York Close MT4 servers will change this weekend from GMT+3 to GMT+2. In this way, midnight on your MT4 charts will stay in line with the 5pm New York Close. If you have any EAs or indicators that use a GMT offset, please update them to GMT+2 this weekend.​
 
Candlestick Pattern Identifier (Beta Testing, Need Feedback)


FXCM's programming services team has created a new indicator which identifies candlestick patterns. Before we release it on the FXCM App Store, we would like to give members of this forum exclusive access during the beta period. Any feedback you can provide in return, whether you love it or hate it, would be greatly appreciated!


The app is designed to scan for the following candlestick patterns:
  • Hammer
  • Inverted Hammer
  • Shooting Star
  • Hanging Man
  • Doji
  • Spinning top
  • Bearish Engulfing
  • Bullish Engulfing
  • Dark Cloud Cover
  • Piercing Line
  • Bearish Harami
  • Morning Star
  • Evening Star

Here's an example of the indicator scanning for Morning Star and Evening Star candlestick formations.

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Step 1: Download & Install the Indicator
Click Here to download the indicator. The zip file downloaded contains a PDF with instructions on how to set it up. You simply need to double click the FXCM_Candlestick_Patterns.exe file to begin installation.


Step 2: Add the Indicator to a Chart
This indicator is available exclusively on FXCM's Trading Station desktop platform. Once installation is complete, the indicator will be located in the indicators list in the Marketscope charts on the Trading Station desktop platform.
 
Russian Ruble Plummets and Here’s How We Might Trade the Clear Trend

UPDATE: Central bank of Russia raised its short-term interest rate to 17% in a bid to "stem devaluation, inflation risks."

Quantitative strategist David Rodriguez says "If the Central Bank of Russia is unable to stop further USD/RUB rallies via interest rate hikes and interventions, we believe that the Russian government will effectively halt speculation on the domestic currency.

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"If a trader is holding a position in the USD/RUB or any other RUB-based pair, this could mean that trades would be closed at a significantly unfavorable rate—likely causing losses for those on either side of the trade."

In light of these risks, Rodriguez discusses alternatives to trading the ruble directly in his article today on DailyFX.com.
 
Please be advised that most Western Banks have stopped pricing USD/RUB. As such, FXCM can no longer offer this instrument to our clients and will begin closing any existing client trades in USD/RUB effective at Noon NY time today, December 16, 2014.

Alternatives to trading the Russian ruble directly are discussed in this DailyFX article by quantitative strategist David Rodriguez: http://bit.ly/1GJdwuq
 
Hi Jason,

I was wondering if I
  • can trade (micro) crude on my FXCM account? I believe my account is set up in the US. I can't find the symbols though (only fx pairs). Do I need to transfer my equity to another FXCM entity in ex. the UK if I want to trade crude?
  • can trade with my FXCM account using my existing Sierra Chart charting program? I read somewhere there is an API to make this happen. If so, any requirements from your end?
Thank you in advance for you support.

regards
 
Russian Ruble Tumbles Further - Holding RUB Positions Far too Risky

In a follow up to his comments on the Russian ruble yesterday, David Rodriguez had this to say in his article today:

"The risks of capital controls were a key reason we would avoid trading the Ruble and instead shifted our focus to other Emerging Market currencies—notably the Mexican Peso, South African Rand, and even the oil price-sensitive Norwegian Krone. Thus far the correlation has held fairly well as these currencies tumbled alongside the Ruble.

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"If a trader believes the Russian Ruble will continue lower against the US Dollar, we believe that he or she would be better served trading proxies in other emerging market currencies."
 
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