Just making the transition from simulated trading to live trading in TradeStation, and understand that fills will not be as instantaneous as simulated trades, however something happened the other day that really bothers me. I’ve read a number of reviews about TradeStation fills, most of them dated, so I rather hear some current info as a reality check.
I was was practicing my entries during live trading and had a small position open and felt it was time to take a modest profit. It wasn’t big - I had 100,000 units and I was going to make $70 USD.
What bothered me was closing the position - Tradestation showed a profit of $35 instead of $70. There was moderate volatility just before the London/New York overlap, so I could understand a few bucks, but I’ve double checked and I know the position did not move that far down.
$35 is not much but I’m concerned about protecting my profits in larger trades, and if anyone else had this same issue with TradeStation?
I would check the logs and see if t was bid/ask spread. I have been using tradestation for everything else but spot forex. I have never had a problem. I don’t think the service would be that different .
As you suggested I went back and checked the logs and factored the bid/ask and there’s still a gap. Regardless, I sure everyone get’s bad fill once in great while and it really wasn’t much money.
My main concern is if this was typical of Tradestation and I hear you saying not in your experience.
I trade with AxiTrader and ever since I’m profitable I started to experience lag of data being delivered to my MT4 and lack of instant fill.
What you are describing would be Market Maker tricks to get you out without much profit or with loss if possible. If you are consistent with your trades and in profit in general, check http://100forexbrokers.com/ if your broker is Market Maker as this means they can move price as they like. AxiTrader isn’t that’s why I chose them over majors or well-established.
In my case it could be lack of participants in market after Easter holiday and will monitor this but I wouldn’t expect slow data feed if this would be the case.
Also checking the above link, I found Trade Station Securities and they are listed as DMA/STP.
If you want to protect your profits use stop loss and if they guarantee it then you will be paid and your trade closed when price gaps through your stop so no surprises.
I would like to know more about other brokers and your experience with them since you become profitable and trading minimum 0.5 standard lot.