11-10-2007, 06:54 AM
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Junior Member
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Join Date: Jun 2007
Posts: 4
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Who's your ennemy number 1?
Quote:
Originally Posted by zomg
An observation. I have different brokers demos running, aleccoh, ibfx, velocity. This friday, only Aleccohfx demo wasn't frozen during those fat moves on multiple currencies while others were down for good 20+ mins. I know I know, demos are meaningles but like i said, its just an observation, nothing more.
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Hi Zomg,
I wasn't intending to put this post here, but what happened yesterday upset me so much and after I read your post, I wanted to warn other traders.
Who's your enemy number 1?
Well it is not your Internet connection. Connection is your enemy number 3...
If you lose your connection, you may connect from another ISP, or go to an Internet cafe, or ask help from your neighbor...
It is not you, you are your enemy number 2!
It not the other trader, he does not really care about you...
Big Dogs of course!
But your broker comes in general first in the list.
Why?
Well let me tell you in the beginning that I have many live and demo accounts with lot of brokers using all kind of platforms. I have always a dozen of different platforms I monitor in the same time to avoid faling into price manipulation.
Because he not only manipulate the price, trades generally against you, but also may have his servers freeze for enough long time to see your balance blow, your trades triggered or your SL hit, and you can meanwhile do nothing!
Here's an example that just happened with me yesterday with one of the broker I deal with.
He got his servers freeze on both demo and live accounts (Intentionally???, not the first time!!) just before currencies new break (EU, UJ...) for more than 40 minutes!
Here are two snapshots:
1- Bad wrong data provided for 10 minutes, then a freeze for 40 minutes during the main price action.
2- After prices calmed down...
P.S. This is one of the best renown MT4 broker in the USA that says to have non dealing desk.
071108-BrokerFreeze.gif
071108-BrokerFreezeAfter.gif
My advice: Chose carefully a broker that trades with you not against you!
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