What's with the long tails?

[_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 !

[Jason_Rogers]

_bob and Falstaff,

If you take a look at the original post, you’ll see the feed is from IDC not FXCM. Falstaff, if you could let me know what time frame your chart is, I’ll be happy to post a screenshot of FXCM’s charts for EUR/USD during the same time frame so that you may compare.

If you take a look at the news events of the day (10/31), you’ll see there were a number of news events that day such as Euro Zone CPI, GDP data, and EUR unemployment rate release that cause high market volatility leading to a small number of liquidity providers pricing that day.

I’d also like to clarify that FXCM is no longer affiliated with DailyFX in anyway.

All the best with your trading!

Jason

[Falstaff]

Jason, The chart is 1 minute time frame as can be seen from the times at the bottom. The same phenomenon occurs on all the larger tme frames intraday.

However it ceases if the 1 day chart and higher timeframes are consulted, so clearly those timeframes are not using the same data.

I’d also like to clarify that FXCM is no longer affiliated with DailyFX in anyway.

The same chart is even as I type demonstrating the same issue, with the Lowas at an exact round pip position. which the open high and close do not

[Jason_Rogers]

Hello Falstaff,

Can you let me know which time zone the chart times are in and I’ll post the FXCM chart for that same time frame for EUR/USD, m1.

Jason

[Falstaff]

Hi Jason, I’m Uk and currently we are on GMT

Although at the top of the cart it does state "31 October 2017 15:27 EST "

The times dislayed at the bottom of the chart are GMT though

[Jason_Rogers]

Hello Falstaff,

Below you can take a look at FXCM’s pricing for that time frame. As I stated previously, news events can cause affect market volatility. There were a number of news events released on the 31st that affected both the EUR and USD pairs. CPI and GDP data were released for the Eurozone and The S&P/Case-Shiller Home Price Indices data was release for the US housing market. Both of these events can cause extreme market volatility.

Jason

[Falstaff]

Thank you Jason, Your chart does not appear to show the long tails which are shown on the DAilyfx charts I published, and are still showing on todays charts from them.

The range of values for 31.October. 2017 on my calculation is High !.16615 Low 1.16250 - A total range for the day of 36.5 pips. A decent enough bet if you could catch every single pip, but all in all a very flat day.

So I’m not quite sure why you want to talk about News and Volatility for such a day, but I accept that the chart you published does not appear to show the long Tails I was talking about .