My first live positions ever, today, 24th Dec. 2013, with FXCM

Thank you for popping in! How are things with you?

Howay man!

Looks like you are in for some tropical weather!!


Get your mankini out :59:

Hi PMH,

I’m glad to hear this issue has been addressed for you. :57:

For everyone else who was wondering, the bad ticks (incorrect prices) on Sunday, June 15 were due to errors in the price quotes from one or more of the banks providing us with liquidity. Also, for the record, it looks like the price feeds of several brokers were affected by the same issue:

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Hello traders! I wish to congratulate Jason Rogers for his help and FXCM for their honesty and professionalism: today I received e.mailed confirmation that my case relating to said 15th June margin call has been closed and a refund of all relevant positions has been calculated and it will reach my trading account within the week.

This is why people who keep spitting on FXCM should listen and take notice: they are NOT thieves and brigands!

[QUOTE=“PipMeHappy;639427”]Hello traders! I wish to congratulate Jason Rogers for his help and FXCM for their honesty and professionalism: today I received e.mailed confirmation that my case relating to said 15th June margin call has been closed and a refund of all relevant positions has been calculated and it will reach my trading account within the week. This is why people who keep spitting on FXCM should listen and take notice: they are NOT thieves and brigands! [/QUOTE]

There a okay company but most broker now a days are trying to get a good rep especially like fxcm the previous rep was terrible , there was a ton of charges thrown @ them in 2011

There’s even a wiki page about them
FXCM - Wikipedia

There a okay company I have used them for just over a year , don’t use them any more though ,

I haven been refunded by my broker plenty of times

P.S it takes my brokers less than 2 days to receive my money :wink: when ever they make a error

Hey I have just been reading this thread. How is your account doing now pipmehappy? what does your balance say? I have been demoing for two years about to go live very very soon.

Hello mrquickbuy…

Well, after my margin call (see above) with FXCM it has not

been going too well, because I lost my equilibrium, going from

three steady growth months (+5%, +7%, +8%), for both equity

and balance, to a frenzied period where I tried to make my lost money

back quickly… It did not work too well, but I have gone back to the

drawing board and have tried to adjust to my new trading context.

I have not looked at MyFxBook account for the last three months

but I will do so once I have allowed my account to steadily grow

back…

Cheers

[QUOTE=PipMeHappy;650162]Hello mrquickbuy…

Well, after my margin call (see above) with FXCM it has not

been going too well, because I lost my equilibrium, going from

three steady growth months (+5%, +7%, +8%), for both equity

and balance, to a frenzied period where I tried to make my lost money

back quickly… It did not work too well, but I have gone back to the

drawing board and have tried to adjust to my new trading context.

I have not looked at MyFxBook account for the last three months

but I will do so once I have allowed my account to steadily grow

back…

Cheers[/QUO
I have a live account now in my sixth week, I started well, I was up 8% but then i got overconfident and over leveraged and lost almost 15% in one day mainly trading the news. Im going back to smaller bets now in the hope i can build my account back up. I wish you all the best, forex is not easy.

[B]Hello Mr Quick Buy,

how is your trading now?[/B]

Hi, I havent done too much trading this last week because of my job. My account is probably down about 5% right now, I pulled a little out of the market last week. Wish I could have traded more on thursday, I know some people must have made some serious money with EUR/USD going down 200 pips. Were you trading on thursday?

Hello MrQuickBuy…

I was not… I have had open trades for a few days and weeks, so I was trading but not hunting the big Euro moves just on Thursday, if you get my meaning :slight_smile:

What job do you do?

I work with the public i ll leave it at that lol, so how long do you hold your positions? you are on your second account now? how is it going? I know taking quick profits ie scalping is for more experienced players but isnt holding positions for a longer length of time more risky because there is so many news events every day they cant all go your way.

Good luck with the scalping… I prefer long-term trading now, as I am a teacher and cannot follow trades through the day that much. My first account got hit by an erroneous margin call and got a partial refund, so I am building it back up; my second account is doing pretty well, about +27% in three months but without overleveraging…

nice results that is much more than you would get from a bank, keep up the good work.

[B]FTSE100 starting to show exhaustion signs, having failed

to top the historic high at 6,900 this month and having returned to challenge the 6,800 level; the screenshot here

shows the same level in the orange-filled circle on the left, around July/August of this year; since breaking this

level toward the end of August, the FTSE100 has failed to gain higher levels than the historic high of 6,900 and

has begun displaying lower highs, which are highlighted here with a purple descending top line.

[/B]


It is! Two banks in the last twelve months have written to me to announce savings accounts’ interests being slashed from 1% to 0.5%…

They are very tight-fisted arent they. I know forex is a lot riskier than leaving your money in a bank but at 0.5% interest what is the point you may as well gamble.

It is worse than that, MrQuickBuy: the banks are, basically, encouraged not to lend money,
or rather, they are better off taking money from the central banks than giving it to lenders/consumers on
the high street… This is why the rates they are offering, below the BoE interest rate, are criminal!!

Well, what a journey it has been since that Christmas of 2013!

I gained a lot of money, lost even more, blew up one account and reduced the other one to a very small thing indeed…

The good news is that I learnt a lot in the process…

I managed to up my (significantly diminished) surviving account by 59% from December of last year to now, which

is about six months… This has been done thanks to careful managing of open trades, using stop losses and not over-

leveraging… I also started using more frequently my still-open demo account, which I had used since my very first month

in Forex, back in September 2012: by doing so, I have been able to test trading ideas safely, and increasingly the probability

of their success in the live environment.

I am very happy with FXCM and DailyFX, and it is very much thanks to them that I have kept up this activity and starting

to treat it more like a small but managed business, rather than a slot-machine round…

Thanks for listening!

I just read through this thread. It is an incredibly interesting account of the ups and downs and stresses that are faced by traders as they try and find their own niche in the markets. A beautiful account, stretching over a period of time, of the battle between market logic and personal emotions and ambitions.

A great read - thankyou PMH! :slight_smile: