Forex rebates on every trade - win or lose!

Cheers Dezza :)

Went to press what?

MM - the calendar is great, many thanks (on a Friday night too, what service !).

Blimey, Japs have got an easy week !

WAS MY ACCOUNT TARGETED BY IG INDEX?

During the course of yesterday's solid rise in the USD/YEN I rather foolishly attempted to catch a few falling knives, which resulted in my holding of 9 short CFD contracts at roughly 5 per pip (I mention the cost because it may be relevant).

I decided that rather than close and take a substantial loss, to await developments today and see what effect the USA GDP figs would have. At 1330 it was clear from my trading screen Cable and the Euro were accelerating upwards, but the USD/YEN pair remained totally static. Fortunately I was talking to a fellow trader who kept me appraised of the situation once I had mentioned my stubborn pair. Whilst phoning IG I logged out and back in again and after 30 seconds or so, my screen updated and I was able to close all my positions for a significant overall profit, I didn't need to speak to IG after all.

Once the dust had settled I phoned IG asking what had happened to my trading platform, I was initially informed that their USD/YEN data feed had developed a fault. I asked for the name of their data feed provider to verify their claim. Following a period on hold I was then informed that the fault had been an internal IT error, not an external data feed problem!

Now I'm not sure if I am being paranoid, but I find it extremely odd that the only stock / currency affected on my platform was the one I stood to make a hefty profit or a hefty loss. Coupled with their change of story I remain perturbed. Were it not for my fellow trader keeping me updated I am sure I would have missed my opportunity.

Did any other FXers who trade with IG notice the same problem with their platform during the 1330 period?

If not it would seem to lend some credibility that IG did mess with my account.

Grateful for any response.

pth

pth:

I can't comment on the specifics of your issue with IG, so I'll leave that to others. However, I have quite a lot of experience in dealing with the technical and software engineering issues of market data feeds and so on -- most of it rather sad.

It's quite plausible that IG had a problem with a specific FX instrument such as USD/JPY. It is equally plausible -- quite common, in fact -- that IG's IT people didn't understand the real cause of the problem at the time or simply misreported it to you.

I fully understand your incipient paranoia in this case, but I suspect that the real answer is much more mundane.

Incidentally, I have to say that MoneyAM is one of the most clued-up organizations that I've come across when it comes to dealing with this sort of problem and the resultant customer issues.

Regards, MM

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mg .... replying to your post of a few days back ..... 20700 is the ultimate target and it was most certainly not anticipated that it would be hit in the immediate future ..... however, unlike my shares which i trade, rarely keeping any for more than 6 months and often a lot less than that, i (our company) watch $ long term movement and expectation quite carefully as we always have surplus $ income ..... on a month/month basis we will sometimes hedge our known surplus and sometimes not, much depending on volatility at the time and pure gut feeling .... i don't recollect the company having got it seriously wrong in a very very long time.

MM

Many thanks for the reply. Must say I am a little more relaxed about the issue now, although at the time I was somewhat agitated. I will keep a close eye on proceedings in future, but considering moving to a different broker anyway.

pth

MM,

Just a thought re the calendar.

The page setup for the XLS file is such that it prints by default as a percentage of normal size. This could be the reason that you end up with 3 separate GIF's.

Have you tried altering the page setup so that it scales to 1 page wide and tall on the largest size paper (Legal) before you print the GIF?

I had exactly the same problem going the XLS>PDF>JPG route.

Hil,

Could you ping me an email (I assume your email has changed as you've moved ISP). The utility I'm using doesn't go via the printer/PDF route but extracts directly from the selection -- so paer size/scaling shouldn't make any difference. I've bugged the author . . . ;-)

D.

MM,

You should still be able mail me via my Pipex address. I understand what you're saying about paper size, but I figured it might be worth a try nonetheless.

MACD is still falling and the price action is below the falling MA, so it's not a long. I am conscious, however, of just how oversold it's starting to look.

my net dania and fxcharts not updating both stuck on 1.9938 whilst the quote is
currently 1.9956-60. Anyone else got this problem?

Nope, mine seems ok.

Mine are stuck, D. They have been playing up for a couple of days now.

ok thanks Hils...saved me a reboot....
odd for netdania to get stuck....
it does happen on fxcharts more often...

I'm not going to paste another daily USDX chart today, but there are further signs that the Dollar might be turning. I guess we're seeing a fair bit of profit taking every time the Pound goes over $2. It knocked it back a fair bit yesterday afternoon.

I suspect it will take a few more days yet to get a clear picture of where we're headed.

USD/CAD looks iffy, still looking to trade short but using tighter stops. Watching AUD/USD, might be about to turn on the dailys

re charts, been using prorealtime charts the last couple weeks and I like them(use fibs quite alot for retracements). You can get a weeks free trial to try them out. Very similar charts to you know who! noticed little price divergences occasionally! Also had problems with fxcharts but i only use the freebie

Trying a dummy acc. with fxcm and have had problems with limit orders(not being executed correctly) yesterday, presume its me getting it wrong. Certainly prefer the dealing page etc. to unowho

in on the spike

Zooming in, there are some clearer signs imo this morning that we may be on the turn.

I did read an article the other day suggesting that the Fed would be forced into increasing rates against expectations. That could easily prove to be the "news catalyst" to drive the Dollar going into the summer quarter.



Btw, MM, my old email account was closed a few hours after I posted 7850 the other day. You can now contact me by using the same username@sky.com.

Today's US jobs data released at 1:30 BST, is expected to reveal that 115,000 net new jobs have been added in April after adding 180,000 jobs in March. The unemployment rate is seen rising slightly to 4.5%, up a tick from 4.4%.