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  1. #1
    rok1t is offline Member
    Join Date
    May 2010
    Posts
    5

    How to aviod a spike?

    I'm new at this, so please excuse if it's a n00b question.

    When you create a entry order, there doesn't seem to be an option to specify if it should be executed on close or real-time tick rate. As a result, I had a entry order which executed during a momentary rate spike + the market was very volatile, and ended up - 180pips in the red, on open!

    Is there anyway to prevent this from happening, anyone have some insight they would like to share?


    Thanks,
    zu

  2. #2
    Suhail at FXCM's Avatar
    Suhail at FXCM is offline FXCM Micro Support
    Join Date
    May 2009
    Posts
    399
    Quote Originally Posted by rok1t View Post
    I'm new at this, so please excuse if it's a n00b question.

    When you create a entry order, there doesn't seem to be an option to specify if it should be executed on close or real-time tick rate. As a result, I had a entry order which executed during a momentary rate spike + the market was very volatile, and ended up - 180pips in the red, on open!

    Is there anyway to prevent this from happening, anyone have some insight they would like to share?


    Thanks,
    zu
    Hi zu,

    With Entry Orders, there is no way to specify for it to execute "on close" as you describe. When triggered an Entry Order will executed in real-time. During volatile times, you might want to consider sticking to Market Orders, instead of Entry Orders.

    With Market Orders, the FXCM Trading Station has a feature called Market Range which allows you to limit your slippage. Click here for details on the Market Range feature.

    If you ever feel that one of your orders has executed incorrectly, you can go to this page to submit a Trade Execution Question. The Trade Audit Committee will follow up with you after investigating the trade.


    Suhail

  3. #3
    rok1t is offline Member
    Join Date
    May 2010
    Posts
    5
    Thanks Suhail! Didn't think of the market range option. Will check this out. Also following up on that weirdness with that order...lets see what I find...

    Cheers,
    zu

  4. #4
    Suhail at FXCM's Avatar
    Suhail at FXCM is offline FXCM Micro Support
    Join Date
    May 2009
    Posts
    399
    Quote Originally Posted by rok1t View Post
    Thanks Suhail! Didn't think of the market range option. Will check this out. Also following up on that weirdness with that order...lets see what I find...

    Cheers,
    zu
    Hi zu,

    That's good to hear. I encourage you to ask us whenever you have a question or concern.


    Suhail

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