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I didn't even bother to read the attachment in your post, to the topic starter. My appologies, for that. At what time during the day did their platform freeze up on you? Was it during a news release, or was it during normal market hours?
If it was during news releases, then you shouldhave been alot more careful in reading their contract claus before you joined them. If it was during news, then legally. You set yourself up for that one, because their excuses are unlimited, as they were, before you joined them.
Now, if this is during 'normal market' hours, this is highly irregular, especially for FXDD. Did you lose any funds during this timeframes? If so, then typically 9 times out of 10. They will have to reset whatever balance it is that you've lost IF this was during 'normal market' hours.
Also, about news trading.
What's wrong with you people. News trading is only done succesfully on institutional accounts. Dealing Desks, non dealing desks, or "retail", in general. All will get burned, before you don't really get 'direct access' to bank pools, this is simply just a lie. Trade against another retail trader with the same 'borrowed leverage' as you, maybe. But, more than likely. These are the works of a broker. If you really want to trade news releases and do it well, do like the smart traders are doing. Let me tell you just how foolish it is to trade news releases on 'retail accounts'.
First, you have the straddlers. They get burned the most and are at the complete mercy of the broker, even IF the contract states "guaranteed fills" on ALL orders. Now, you have the spike traders. It surely didn't take long for this small piece of an edge to tarnish and deminish into absolutely nothing.
More and more, everyday, a new trading call service for news feeds is opened. Then, more and more, everyday, a news spike trader is burned down to the tip of their account. Don't this seem all strangely odd to you? If someone who gets feeds from Blommberg can't even get filled and if they are filled. The spread itself will kill their profits. Just, what is it about news trading that excites so many of you, so much?
If you wanna trade news the "free way", get in on the breakout. Technicals do amazingly well, as i've been finding out lately over the 15 minutes after spikes. The buyers and the sellers are still wrestling for the retracement, the even bigger one. Plenty of time to get in really accurate BIG profits, but no. Everybody wants to trade the spoof/fake, the initial spike itself.
Which is what brokers want you to do. It's been done for years, if you're a fan of STOCKs, you'd know small things like this. You seriously know that, when brokers start advertising that traders SHOULD start trading news spikes, that definately tells you, right there. That your edge trading days over the news are over and are NOW going to cost you for their benefit.
I used to straddle, back when it was safe and still 'under the radar', now. Unless brokers raise the margin requirements, all of the bluebook tactics will eventually disappear forever. Because, trading at $250 mini account level allows the average newbie to get in with his, or her's $5.00 an hour paycheck, ruioning the tradition of trading, for the rest of us.
The requirements should be raised, margin wise. The minimum shouldbe atleast $5,000. Because, atleast then. Only the serious and the strong survive, also. Things will quiet down, back to the traditional sense of 'trading'.
Save BIGGER funds and look for the cheapest institutional platform you can find, or. Be even smarter, trade a centralized market with a minimal margin requirement, that way you're trading "real lots". Oh, by the way. Market makers and brokers cheat in Futures & STOCKs too. Actually, ten times worse than in forex. This platform freezing thing thou. It's rather petty and pathetic, child's play compared to what real professional brokers and firms are doing to cheat clients in 'other markets'. I supposed there's really no running from it, you just have to take what you can get. But, when you NEVER read the contract, it's DOUBLE for, that's "in your face".
Due Dilliegence, use it until it stops working.
Last edited by Klaka; 10-27-2006 at 01:25 AM.
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