Gft

Broker Discussion Forex Brokers
1

Hey Everyone,

I'm currently using Oanda, but I opened up a demo account with GFT about a month ago. The main reason for doing this is to diversify and I also heard GFT has great charting software. 

However, here are a couple of questions I have about GFT that I hope someone can answer for me. The first, it seems like my orders get closed for no reason at all or closed and then reopened at another position. What is the cause for this?

When I first started the demo- I had a position that went against me for something like a $1000 (I didn't set a stop loss and forgot about it for a few days). Well, when I checked it, I noticed I had an Unrealized P/L for something like -$700 but all my positions were still open. I couldn't figure out what had happened.

Yesterday and this morning was the major ones. I created a new system and was testing it. 

 1) It was on the GBP/USD and I was up for something like 36 pips when the MPC Minutes came out yesterday. All of sudden the market shot up and without warning it closed my position for no reason. It closed it out for -3 pips although I didn't have a stop set or anything. I don't understand how it just closed.

 2) Again, this morning, it was with GBP/USD and I was up 102 pips. I was getting ready for work and I looked down and I saw 102 pips and thought "This system seems to be working," and I was happy with myself. I go brush my teeth and start getting ready and I look at it again- NOW it shows I'm only up 12 pips! What the heck is going on?? I look at my Unrealized P/L and I'm $890 richer. It closed my order and then reopened it at another level.

 Now I appreciate it locking in profits, BUT what about the times it locks in losses that eventually turn??? Is there something I'm missing? Has anyone ever had this problem on the live accounts?

 Secondly, the Unrealized P/L I thought was for orders you hadn't closed out... but after I close my orders out it goes from Floating P/L to Unrealized P/L and then a day or so later it goes from Unrealized P/L to the actual account. Is it also common on the live account for it to take a day or so for losses or gains to be deducted/credited to your account?

  Any insight or help will greatly be appreciated. I am scheduled to talk to a representative on Friday, but I want to hear from other traders before I talk to him.
2

To GatorPip :

I am a competant trader who has always used the GFT platform. I am the author of the thread -

http://forums.babypips.com/newbie-island/10812-joy-candlestick-trading-learning-experience.html

In the last pages you will see many posters who have switched to GFT as it is really the best charting program out there.
It uses a Windows 32 bit system rather than Java and it is very stable - which is what you need.

However, here are a couple of questions I have about GFT that I hope someone can answer for me. The first, it seems like my orders get closed for no reason at all or closed and then reopened at another position. What is the cause for this?

I suspect this is simply a rollover. Find out about [U]rollovers[/U].

  1. It was on the GBP/USD and I was up for something like 36 pips when the MPC Minutes came out yesterday. All of sudden the market shot up and without warning it closed my position for no reason. It closed it out for -3 pips although I didn’t have a stop set or anything. I don’t understand how it just closed.

Have not experienced this myself - I was not there so I dont know what you did. You may have to talk to a rep.

  1. Again, this morning, it was with GBP/USD and I was up 102 pips. I was getting ready for work and I looked down and I saw 102 pips and thought “This system seems to be working,” and I was happy with myself. I go brush my teeth and start getting ready and I look at it again- NOW it shows I’m only up 12 pips! What the heck is going on?? I look at my Unrealized P/L and I’m $890 richer. It closed my order and then reopened it at another level.

I could be wrong but it sounds like another rollover.

Secondly, the Unrealized P/L I thought was for orders you hadn’t closed out… but after I close my orders out it goes from Floating P/L to Unrealized P/L and then a day or so later it goes from Unrealized P/L to the actual account. Is it also common on the live account for it to take a day or so for losses or gains to be deducted/credited to your account?

This is normal procedure and [U]not [/U]to be feared. It normally takes about 2 working days before profits/losses are credited to your account. I suspect this is standard for most brokers.

Finally, I can assure you that the program is of the highest integrity and does not have nasty little tricks and viruses in it.

It is, I believe, the Rolls Royce of charting programs.

GFT comes very highly recommended. You will find that their back up service is excellent.

If you have further queries, go to my thread posted above. Go to the latter pages. You will find quite a few posts about the GFT charting software and you will also gain insights on how to best set out your program so as to get maximum efficiency and quality use.

3

Thanks Tymen, I’ve read part of that thread before but got so busy I forgot about it. I appreciate you taking the time to give me some insight on what you think of GFT.

By the way, thanks for all the help you’ve given me and everyone else- I’ve noticed many of your posts on other threads. You are a respected poster around here.

4

HI

I have tried to open your thread, b ut it will not allow me to.

I am in terested in gft as I have a demo running at the moment. I want to transfer my existing live account over to gft, but I wanted to know what figures you are using for your EMA’s stochastics, Parabolics etc.

Would you be able to send me a link to open your thread again.

Thanks

Princess

5

Go to Newbie Island. You can’t miss it. It’s always on the first page.