Bloodbath on LMAX

With the EU economic summit, last night there were a lot of interesting spikes to be used with scalpers like NumberOne.
I woke up with a nice surprise on the FXPRIMUS account… and a less nice surprise on the LMAX account: every trade was in loss! I lose every gain made in the past weeks!
Why?
If I look the spread indicator that I left logging on the graph, it looks like LMAX raised the spread for every spike, look:
With a spread of 8.4 pips in the higher spike, they sabotaged every NumberOne trade!
Instead, this is the spread history in FXPRIMUS:

AVAFX is a SCAM!

Following Forex Cruise Control, I’m down of a lot of pips.

Two accounts were burned by the margin call, while an account with AVAFX is resisting.
With the election in Greece, FCC decided to do hedging (go in both ways), to compensate losses having wins on the other side.

Everything ok? NO!

I got this error!

Did not change Limit from Forex Cruise Control BUY GBP/USD, reason: Broker rejected value.

So, the take profit wasn’t changed, my BUY were closed, leaving opened the SELL ones!!!!!!!!!!!!
With the election happening tomorrow!!!!!!

Scammers!!!!!!

It also happened in the past? Of course! For example:

Did not change Stop to 1.54452 for 0.2 mini lot (2 K) from HighProfitFactor SELL GBP/USD, broker ticket: 38080081, reason: Broker rejected value. Broker Message: Can’t place order so close to the market price: .0007 < .0008

Did not Close trade for 0.2 mini lot (2 K) from HighProfitFactor BUY EUR/USD, broker ticket: 38022208, reason: Broker rejected value. Broker Message: Trading on EURUSD is temporarily unavailable. Please retry.

The last error is AWFUL!
Trading on EURUSD is temporarily unavailable??????? So I have to end with a loss for your fault????

Disclaimer:
I used the word scam, but it’s obvious that AVAFX doesn’t intentionally cheats their customers – it’s just a bug of their ZuluTrade interface, because instead of being based on MetaTrader, is based on ActForex

Emergency in Greece

Almost all of my brokers, sent me an email to remind me that Sunday in Greece there will be elections – event that will have an unpredictable effect on the Euro.
What will happen?
Unfortunately I’m going to holiday tomorrow – and I decided to keep trading on with NumberOne – let’s see if when I come back next week I will have a pleasant or terrible surprise.

Be careful with PipDefender

If you are wondering about what happened in my experiment with PipDefender, well, it failed miserably. 20 pips winers traded irresponsibly, cheating with trades on gold to hide the huge drawdown on the ZuluTrade graphs. (Soon I will write about this big ZuluTrade problem…)
However, after the epic margin call that left me almost dry on AAAFx, I decided to try to use PipDefender to monitor reverse trades on ZuluTrade.
Some data on this signal:

  • Trades only GBPJPY, 3-4 times a day
  • Every trade gives a 15 pip loss
  • Every trade has a 91% chance to be losing
  • When it wins, it makes 120 pips.
In a perfect world, if I reverse it, I will get big profits!
In real life, instead there are three problems:
  • The spread on GBPJPY is 6 pips, so when you open a trade you will start at -6 pip (with AAAFx)
  • The minimum distance to place the stop loss is 14 pip (with AAAFx)
  • Inverting the values, the spread isn’t calculated
So, the disaster is only waiting to happen.
With PipDefender, in theory it’s possible to fix the problem, and for the first week it did a good job.
Around Thursday I noticed that the trades were closed with big delay (8-10 hours) compared to the master trade. Strange, I though, maybe it missed the take profit by one pip and it didn’t start.
Today I go to see the MetaTrader and I see the empty GBPJPY graph…
After a while I realize…. “hey, here shouldn’t be an EA running???”
So here is the log:

2012.06.06 21:59:37 PipDefender_client GBPJPY,M1: removed
2012.06.06 21:59:37 PipDefender_client GBPJPY,M1: uninit reason 1
2012.06.06 21:59:37 PipDefender_client GBPJPY,M1: deinitialized
2012.06.06 21:59:36 PipDefender_client GBPJPY,M1: Alert: PipDefender ABORT: the EA will be removed from the chart!
2012.06.06 21:59:36 PipDefender_client GBPJPY,M1: [X] ==>       Bridge.dll error while sending: GBPJPY pair info data (msg= 10302 GBPJPY 122.61500 122.64600 140 0 1339011320)
2012.06.06 21:59:36 PipDefender_client GBPJPY,M1: Alert: Bridge.dll error while sending: GBPJPY pair info data (msg= 10302 GBPJPY 122.61500 122.64600 140 0 1339011320)

So, PipDefender has a great power, but you have to be careful, otherwise you trades will be unwatched and can make a potential disaster.