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FXCM review
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FXCM review

  #31 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
Posts: 3,692 since Oct 2009
Thanks: 3,040 given, 4,482 received


Pocketful View Post
...In market entries, the full spread goes to the broker first in NT. In SC, half spread on entry, second half on trade exit. I will review more closely, but what I mean by example, the US30 has 4 tick spread. In NT, you're down 4 ticks on trade entry. In SC, you're only down 2 on entry, and then lose 2 on exit. Each US30 tick is worth $1 vs YM's $5.

Until I'm an accredited investor ...

Really! it costs double as much with NT? Why is it so?

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  #32 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,888 since Apr 2012
Thanks: 1,673 given, 3,611 received

does fxcm have range bars yet?

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  #33 (permalink)
Elite Member
Mérida, Mexico
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: looking
Favorite Futures: CL
 
michaelf's Avatar
 
Posts: 505 since Mar 2011
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Itchymoku View Post
does fxcm have range bars yet?

@Itchymoku

you can find here a lot of indicators and bar typs for FXCM platforms

FxCodeBase

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  #34 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,888 since Apr 2012
Thanks: 1,673 given, 3,611 received


michaelf View Post
@Itchymoku

you can find here a lot of indicators and bar typs for FXCM platforms

FxCodeBase

thanks, I was hoping it would be included in their platform with out the need to download or install it. I'll look for it on this website.

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  #35 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
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Itchymoku View Post
thanks, I was hoping it would be included in their platform with out the need to download or install it. I'll look for it on this website.

Just use NinjaTrader with FXCM.

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  #36 (permalink)
Elite Member
Vancouver, BC, Canada
 
Futures Experience: Beginner
Platform: NinjaTrader 7
Broker/Data: Global Futures (Ironbeam), Continuum
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trendisyourfriend View Post
Really! it costs double as much with NT? Why is it so?

If you mean the instrument spread costs, they're whatever FXCM is showing in Trading Station and cost the same in whatever platform used for trading.

In my example, NT uses bid prices for charting and execution. The broker gets paid first; so you're down 4 ticks/pips right away. In SC, charts display the spread mid-point and handle executions differently. Any traders with more experience can correct me.

As I get successful, I plan to trade futures instruments because for FXCM customers in Canada, Friedberg Direct is the market maker for CFDs.

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  #37 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 164 since Aug 2010
Thanks: 122 given, 153 received


Pocketful View Post
If I decide to go 100% with NT, I would need a muti-license.


trendisyourfriend View Post
Really! it costs double as much with NT? Why is it so?


Hi guys,

If you open your trading account with $5000 and trade 500k per month in round turn notional volume, FXCM will pay for your NinjaTrader software license. If you already have a single broker NinjaTrader license and simply want to add FXCM, you can contact us at admin@fxcm.com for special instructions.

If you have questions about our services at FXCM please send me a Private Message.
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  #38 (permalink)
Elite Member
Denver, CO
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader Brokerage
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NinjaTrader's Avatar
 
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Pocketful View Post
In my example, NT uses bid prices for charting and execution. The broker gets paid first; so you're down 4 ticks/pips right away. In SC, charts display the spread mid-point and handle executions differently. Any traders with more experience can correct me.

Executions are not influenced by the platform. You submit your order through any platform, this order is then filled at FXCM and a fill price is reported back to the platform. Since there is no last trade data in FX, the platform provider must decide what to chart. Implying that using SC you would be down less is inaccurate. Let me provide you an example:

- Bid 31 x Ask 34
- You enter long at 34
- NT chart would show that you are down 3 pips relative to the bid price meaning, if you exited at market you would be filled at 31
- SC might chart 32.5 (mid point as you stated) might show you are only down 1.5 pips which is inaccurate since the bid is truly at 31 and is the price you would be filled at

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  #39 (permalink)
Elite Member
Philadelphia
 
Futures Experience: None
Platform: corded black telephone
Favorite Futures: ticker tape
 
Itchymoku's Avatar
 
Posts: 2,888 since Apr 2012
Thanks: 1,673 given, 3,611 received

I find the mobile platform interesting but I don't see any way to really scale out of positions. Am I missing something? (I tried to do this on the downloadable software as well and can't find it either) It looks like what happens is that it shows a net position of all orders I've entered on a specific currency pair and allows only one stop/limit on that net position. Even if I enter more than one position it won't allow me to enter different limits or stops on those extra positions on the same pair. Would I have to connect FXCM to another platform other than their own to scale out of positions?

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  #40 (permalink)
 Vendor: www.fxcm.com 
New York
 
Futures Experience: Intermediate
Platform: Strategy Trader
 
Jason Rogers's Avatar
 
Posts: 164 since Aug 2010
Thanks: 122 given, 153 received



Itchymoku View Post
I find the mobile platform interesting but I don't see any way to really scale out of positions. Am I missing something? (I tried to do this on the downloadable software as well and can't find it either) It looks like what happens is that it shows a net position of all orders I've entered on a specific currency pair and allows only one stop/limit on that net position. Even if I enter more than one position it won't allow me to enter different limits or stops on those extra positions on the same pair. Would I have to connect FXCM to another platform other than their own to scale out of positions?

Hi Itchymoku,

I notice your forum profile mentions that you live in Philadelphia. The reason for the net positions is that as a US resident, your FXCM trading account has to comply with CFTC regulations regarding FIFO (first-in, first-out) execution. It is still possible for US traders to scale in and out of net positions on the FXCM platform, but it works a bit differently than for non-US accounts. Below are instructions on how to set multiple stop/limit levels for a position on an FXCM US account using Trading Station Mobile.


1. On the Rates screen, tap on the currency relevant currency pair.
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2. On the Currency screen, tap on OCO (One Cancels the Other order type).
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3. On the OCO screen, select the amount of your position that will be closed if this OCO order triggers and specify the price levels for both the stop and limit.
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4. On the Orders screen you can see OCO orders designated by a connecting line. If one of those orders is triggered, the related order will automatically be cancelled.
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Please let me know if you have any further questions.

Jason

If you have questions about our services at FXCM please send me a Private Message.
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