What's with the long tails?

[Falstaff]

Go watch this on the 1 minute bars, the moment the bar opens at say **162, the low already prints at **150 Then if teh price goes down close to **150, the red bar Jumps to **140, then returns to **152 or whatever. THAT’S no GLITCH ! That’s stop hunting and software screwing !

[EDit - In my humble opinion only - of course ! ]

[TradeViper]

Hmmmm, don’t look like a glitch to me.

The Ever Out Of Here VIPER

[Falstaff]

Hmmmm, don’t look like a glitch to me.

That looks like a tick chart to me ?

I did say the same thing about @_bob s tick charts - the tails don’t seem to show - do they ?

[Edit sheck what I said on the time based charts. ]

[Edit 2 - I suppose it could just be on Dailyfx.com - could some try it on other sites please ? someone said it happened on other sites too but maybe not ?
I do hope not because my data did not cone from the same place ! ]

[Falstaff]

Just checked my data - the 2002 data only goes to the pip. so 4 decimal places. The 2017 data goes to 5 places on all the 4 columns so panic over !

I can at least backtest !

[_bob]

Interestingly @_bob in his trading price thread, does not show these tails on his tick based candlesticks - I wonder why ?

Thats the difference between time based charts bro. But your wicks are because the charting software is using a 4 digit price to build candles even though its a 5 digit price feed. These are the clever ways “market markers” (just remember whom dailyfx belongs to) deceive mug punters.

However long wicks mean 1 of 2 things. Either someone (with a shite load of cash)has come in a brought out all the limit orders in the market or someone has removed all of their orders from the market. We’ll never know which.

[Falstaff]

But it’s only on the lows bob and yes I’m well aware who owns daily fx thanks

[Edit did you see my first post, with the picture ? ]

Do others see it on other feeds ?

[_bob]

FXCM stop hunting manipulating data then bro. Thats why nobody uses them.

[TradeViper]

You know what big B, I think I may have jumped the gun, you are right. I did not see the DailyFX at the bottom. I agree 100% with your assessment, and I repent in sack cloth and ashes.

The Ever In Too Early VIPER

[_bob]

Sometimes the obvious solution blinds us in its simplicity.

[Falstaff]

Is FXCM the same as IG then ? - I know IG Index from my spreadbetting days, but didn’t know FXCM were the same people. @_bob

Your contrition is duly noted @TradeViper

[TradeViper]

They may be an introducing broker for FXCM. They can do that and not really be “part” of the company. They would use the same platform, data etc. So IF they are an IB, you are basically trading with FXCM. I can tell you a story about them that basically says it all, anyway, I would not trade with them.

The Ever Not Using FXCM VIPER

[Falstaff]

The chart posted doesn’t represent the prices at the time. There has been a technical error or anomaly in either the data-feed from which the chart is compiled, or the way the software displays it.

It’s not real, people!

For heaven’s sake stop trying to explain away an obvious technical issue by comments about the market!

So if the price charts are shoing tails 2 pips long artificially, what does that do to stop losses placed at round numbers - or in fact ANY stop losses on long bets ???

[Edit - or is this the “Casino’s edge” like the two zeros on the roulette wheel ? ]

Go watch this on the 1 minute bars, the moment the bar opens at say **162, the low already prints at **150 Then if teh price goes down close to **150, the red bar Jumps to **140, then returns to **152 or whatever. THAT’S no GLITCH ! That’s stop hunting and software screwing !

[EDit - In my humble opinion only - of course ! ]

FXCM stop hunting manipulating data then bro. Thats why nobody uses them.

You know what big B, I think I may have jumped the gun, you are right.

I think we havethe solution now - thanks for your input peeps !

[Falstaff]

They may be an introducing broker for FXCM…

No probs mate, IG were big in spreadbetting 15 years or so ago when minimum bet was £2 a point ! survival was a bit scary in those days with 8 points spread as well !

I’m much liking this new environment, but less so with creeping snakes in front of any down moving action !

[Edit - as I said elsewhere, I’m only paper trading atm “Getting a feel” of this FX stuff - my data comes from Dukascopy as it did 15 years ago for many years past. they are brokers with a good looking site and credentials plus minumum $100 a/c the likelihood is I’ll open there ]

[bearish]

What solution then, hunting software or something else, but if hunting software should using different data feed from different broker hence will get different pattern because using different hunting software

[Jason_Rogers]

FXCM stop hunting manipulating data then bro. Thats why nobody uses them.

If you think stop hunting is taking place that would mean the broker is controlling the prices to target the stop price.

FXCM’s prices on NDD forex execution are set by price competition from multiple liquidity providers, and not determined by FXCM. Each liquidity provider streams through a direct feed of indicative buy and sell prices to FXCM. FXCM’s No Dealing Desk Price Engine selects the best buy price and the best sell price, which result in the best available spread. The price is then streamed to the platform where you can then place orders.

Competition between the liquidity providers ensures NDD prices are market-driven and fair.

It’s worth noting FXCM uses the same base price for dealing desk execution on Mini accounts (before adding the spread markup) as the base price we use for our NDD execution (before adding the commission). If you are trading on dealing desk execution and your trading style exposes us to more risk than we’re comfortable with, FXCM may, at our sole discretion and at any time, change your execution type to NDD. This is how FXCM can comfortably offer both execution options without having to resort to dealer intervention practices such as requotes.

Jason

*Risk Disclaimer: Losses can exceed deposited funds.

[Jason_Rogers]

Is FXCM the same as IG then ? - I know IG Index from my spreadbetting days, but didn’t know FXCM were the same people

Hello Falstaff,

FXCM does not have any relationship with IG. If you have any specific questions about FXCM you’re welcome to ask me.

All the best with your trading!

Jason

[_bob]

Jason.

Maybe you would be better off answering the OP original question not damage control created by my responce.

Sorry bro. History has proven you work for a bucket shop.

[Falstaff]

If you think stop hunting is taking place that would mean the broker is controlling the prices to target the stop price.

That is not quite what we seem to be observing here Jason

FXCM uses the same base price for dealing desk execution on Mini accounts (before adding the spread markup)

The problem here seems to be the behaviour of the price as recorded on the chart I showed. When the price is declining, as soon as the recorded low touches the round figure pip number, the red bar immediately shhoots to the next round number pip bar. It can clearly be seen that all the tails on those candles are excessively long and all stop at exact pip numbers. This can clearly be seen in the recored lows at the head of the chart. The moment a new bar is formed, the Low is immediately recorded as a round number larger than a whole pip away.

This is clearly not a “Price feed” issue. Since it only happens on the “low” price, it seems to be "Stop hunting - built into the price record as it appears on the charts. ie it seems to be the way the “Ask” moves ahead of the price. I’m sure we would appreciate your take on that one !

[Trendswithbenefits]

This is clearly not a “Price feed” issue. Since it only happens on the “low” price, it seems to be "Stop hunting - built into the price record as it appears on the charts. ie it seems to be the way the “Ask” moves ahead of the price. I’m sure we would appreciate your take on that one !

Not just an issue with FXCM, but a great many other brokers as well.

(BP Elites turn to next page here…)

I’ve been pissing into a hot air headwind for months on shite like this. I wonder if we are all seeing the same spreads…

Unlike long tailed candles… artificially widened spreads leave very few fingerprints.

[Falstaff]

Unlike long tailed candles… artificially widened spreads leave very few fingerprints.

I dunno [Edit for Zealous mods “dunno” is a phonetic way of saying "Don’t know - it is not "Gibberish ] - We used to get spreads running away in front of sudden price changes in the old spread betting days too. They sort of widened in proportion to the emotional pressure the movement was inflicting ! TBH I don’t blame them for that - It just seems logical if you’re taking the reverse side of the bets.

In fact, whatever you call it, without level 2 direct access any system with a gap between Bid and Ask - is just that- “Spread betting” - except these people actually add interest to overnight positions, despite them being pure “Bets” . - The other thing is that in the UK at any rate “Spread betting” does not attract tax = probably because it would end up being a tax-negative situation from HMRC viewpoint.

This “Trading” - I believe does mean paying tax, although to hit “Capital gains” limits would make you a specially gifted person !