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Thread: Fxcm usdollar

  1. #1
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    Default Fxcm usdollar

    Hi everyone, Ive been looking at fxcm's USDOLLAR but every time I try and place a trade I get a message that says "The rate of an entry order must be a positive real number <12,240 or >12,242"

    Can anyone explain this to me and can't I just trade from where price currently is as it seems impossible to trade a break out intraday if I need to keep moving my entry order away from the break out zone?

  2. #2
    Manxx's Avatar
    Manxx is offline Superior Master Contributor and Member
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    Quote Originally Posted by MissPIPa View Post
    Hi everyone, Ive been looking at fxcm's USDOLLAR but every time I try and place a trade I get a message that says "The rate of an entry order must be a positive real number <12,240 or >12,242"

    Can anyone explain this to me and can't I just trade from where price currently is as it seems impossible to trade a break out intraday if I need to keep moving my entry order away from the break out zone?
    Sounds a bit like you are maybe using the wrong entry order menu. An entry order would be like a limit order that is to be filled only when the market reaches that level and therefore cannot be the current price.

    If you wish to make a trade at the current price then it is a market order.

    BTW, I don't mean to be intrusive in any way, but are you aware of the size of the USDollar contract on FXCM and its pip value?

  3. #3
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    Last edited by scmonds; 04-21-2017 at 03:33 PM.

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    Quote Originally Posted by Manxx View Post
    Sounds a bit like you are maybe using the wrong entry order menu. An entry order would be like a limit order that is to be filled only when the market reaches that level and therefore cannot be the current price.

    If you wish to make a trade at the current price then it is a market order.

    BTW, I don't mean to be intrusive in any way, but are you aware of the size of the USDollar contract on FXCM and its pip value?
    Hi thanks for replying. It does it with both entry orders and market orders. I should of made that more clear.

  5. #5
    Jason Rogers's Avatar
    Jason Rogers is offline Verified Broker Support and Analyst for FXCM FX-Men Honorary Member
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    Quote Originally Posted by MissPIPa View Post
    Hi everyone, Ive been looking at fxcm's USDOLLAR but every time I try and place a trade I get a message that says "The rate of an entry order must be a positive real number <12,240 or >12,242"

    Can anyone explain this to me and can't I just trade from where price currently is as it seems impossible to trade a break out intraday if I need to keep moving my entry order away from the break out zone?
    Hi MissPIPa,

    The message is occuring because you are trying to place the entry order at the current market price or too close to the current market price. In the message you listed, it indicates "<12,240 or >12,242". This means the entry order price must be greater than 12,242 or less than 12,240 in order to create the entry order. If you want to get in at the current market price, you can place a market order.

    Jason
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    Thanks everyone, Problem solved I see what I was doing now.

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