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[Puller]

Thanks so much Ekaterina!

[Ekaterina]

Hi Gideon!

Yes, all indicators including indicators from FXCodeBase forum are available on FXCM Micro Trading Stattion 2.

Hi Everyone
Are all indicators available on the micro TS2 platform. Even the custom indicators found in FXCodeBase

[Sundevyl]

I am new to FX trading, and in the process of developing my trading plan. I need to know the time of day that FXCM (and, I presume, FXCM Micro) uses when calculating the end of day closing price for a currency. Is it based on the New York market (5pm EST) or the London Market (12 noon EST)?
This would be for the data used in Marketscope Charts.

Thanks.

[phani]

hello sir i saw that fxcm is a scam broker in youtube they had a uploaded video and also in NFA site it has given a fine on fxcm. not only this i heard from one client that he had 5000$ strucked with u and also another client account has been complained his opening positions had automatically closed by the fxcm broker. i need to have clarification about this matter hope i get the reply soon.

[Richard Krivo]

hello sir i saw that fxcm is a scam broker in youtube they had a uploaded video and also in NFA site it has given a fine on fxcm. not only this i heard from one client that he had 5000$ strucked with u and also another client account has been complained his opening positions had automatically closed by the fxcm broker. i need to have clarification about this matter hope i get the reply soon.

Hello Phani...I have forwarded your request to our compliance department as it would be more in their area. If you would like to contact them directly, you can email compliance@fxcm.com.

[Julius at FXCM]

Hello Sundevyl, and thank you for your post! On behalf of myself and everyone here at FXCM, welcome to the forum community!


When is the beginning and end of the forex trading day?

5PM in New York (Eastern Standard Time) is considered the beginning and end of the forex trading day.


What are the trading hours?

The forex market is a near-seamless 24-hour market. Subject to available liquidity, FXCM offers forex trading from Sunday, starting at appoximately 5:15PM EST, until Friday, at approximately 4:55PM EST (FXCM Client Service is available 24/7). Orders placed prior may be filled until 5PM EST. With the ability to trade around the clock, currency traders have the advantage of customizing their own trading schedule; they can usually get in or out of the market at any time without waiting for an opening bell or encountering a market gap. While trading stocks after usual market hours is possible, very often that possibility is negated by a lack of order flow or a drastic widening of the bid-ask spread.


What are the most profitable hours to trade?

The time of the day that you are trading can significantly dictate which currency pairs you are going to want to trade. Foreign exchange activity tends to be the most active when markets overlap, particularly the U.S. markets and the major European markets i.e. when it is the morning in New York and the afternoon in London. Below, the major characteristics of the three main markets are outlined:


Tokyo: 7:00pm ET – 3:00am ET / Avg. Daily Volume $150bn

Approximately 10% of all FX trading volume takes place during the Tokyo session. Trading can be relatively thin and hedge funds and banks have been known to use the Tokyo lunch hour to run important stop and option barrier levels. Yen, Kiwi, and Aussie pairs tend to be the biggest movers during Tokyo hours as other currencies are quite thin and usually do not move.

London: 3:00am ET to 11:00am ET / Avg. Daily Volume $570bn

London is by far the most important and influential FX market on the planet, with approximately 30% of all transactions. Most big bank’s dealing desks are run out of London and the market is responsible for roughly 28% of total spot volume. London tends to be the most orderly market due to the large liquidity and ease of completing transactions. Most large market participants use London hours to complete serious FX deals.

New York: 8:00am ET – 4:00pm ET / Avg. Daily Volume $330bn

New York is the second most important market in FX, with approximately 16% of market volume. New York trading is very liquid and is responsible for over 14 % of world FX volume. In the United States spot market, the majority of deals are executed between 8 AM and 12:00 PM, when European traders are still active.

Please click here to read an excellent article about the best times of the day to trade forex written by David Rodriguez, our valued Quantitative Strategist. It's one of a series of articles written on client profitability called: Building a Better Wheel: Incorporating Profitability Statistics. I hope you find that helpful Sundevyl!


Thank you again for your post Sundevyl! Please feel free to post with additional questions or contact me directly at julius@fxcm.com

I am new to FX trading, and in the process of developing my trading plan. I need to know the time of day that FXCM (and, I presume, FXCM Micro) uses when calculating the end of day closing price for a currency. Is it based on the New York market (5pm EST) or the London Market (12 noon EST)?
This would be for the data used in Marketscope Charts.

Thanks.

[GideonHanekom]

Hi Guys

Please help me. On occasion a chart in marketscope would freeze. What I mean by that is that you cant move the chart up or down or forwards or backwards by clicking on the chart and holding the click in. The bit where you click on the perimeter of the chart to squoosh it horizontally or vertically or making the chart wider works fine.

Its probably something I do on the chart that causes this condition.

Kindly advise if you've come across it

Kind regards

Gideon

[Richard2013]

How do you turn off the chart indicators ???

Richard

[Sundevyl]

If you are referring to the Marketscope charts in Trading Station:
1. Right click on the chart, which brings up a list to choose from.
2. Choose chart element, about half way down the list.
3. This brings up another list to choose from. At the bottom are two choices:
a. Remove All Elements
b. or Chart Elements.... (if you click on this option, you can select which elements to remove).

[Sundevyl]

Julian,

Thanks for your response. It was partially helpful. One part I need further clarification on:

When a daily candle (a candle for a 24 hour period) forms on a chart in Trade Station, what is the beginning hour of that candle? Some US-based brokerages have told me that they use midnight EST as the start of the day for forming a 24 hour candle, while others tell me that they use midnight GMT. When you stated earlier:

5PM in New York (Eastern Standard Time) is considered the beginning and end of the forex trading day.

Did you mean that, in addition to most people actually ending their trading day at 5pm, that your computers use this time to begin and end the trading day when forming daily candlesticks?

Thanks,
Larry

[GideonHanekom]

Thanks guys, removing the indicators works. I also found that by re-applying my template the problem also goes away.

One of the posts mentions FXCM as a scam. I'd just like to comment that I've been with FXCM since the Revco fiasco, must be 10 years now, and a more professional bunch I have yet to meet. FXCM rocks!

Kind regards

Gideon Hanekom

[Ekaterina]

Hi Gideon!

Thank you for your kind words!
I hope that the problem with the chart freeze in Marketscope is also solved. In case it's not, please check if you haven't clicked on the Autoscale button in the toolbar.



Best regards
Ekaterina

[Julius at FXCM]

Hello again Sundevyl, and thank you for your post!


When does a daily candle close and a new daily candle open on the Marketscope 2.0 charts?

Yes the beginning and the end of the trading day is the same time that a daily candle closes and a new daily candle opens on the Marketscope 2.0 charts. So 5PM Eastern Standard Time is when a daily candle closes and a new daily candle opens on the Marketscope 2.0 charts. Please let me know if you have any other questions regarding this or anything else.


Thank you again for your post Sundevyl! Please feel free to post with additional questions or contact me directly at julius@fxcm.com

Julian,

Thanks for your response. It was partially helpful. One part I need further clarification on:

When a daily candle (a candle for a 24 hour period) forms on a chart in Trade Station, what is the beginning hour of that candle? Some US-based brokerages have told me that they use midnight EST as the start of the day for forming a 24 hour candle, while others tell me that they use midnight GMT. When you stated earlier:

5PM in New York (Eastern Standard Time) is considered the beginning and end of the forex trading day.

Did you mean that, in addition to most people actually ending their trading day at 5pm, that your computers use this time to begin and end the trading day when forming daily candlesticks?

Thanks,
Larry

[Sundevyl]

Thanks, Julius. It is great to find a broker who calculates a day the way that makes sense!

[Julius at FXCM]

Hello again Sundevyl, and thank you for your post!


You are most welcome for that information, I am very happy to hear that you found that helpful!

In my opinion I think that the daily candle opening and closing at 5PM Eastern Standard Time seems to be the most logical way to do it as well Please do not hesitate to reach out to me directly whenever any questions come to mind, if you need further assistance, or just to let me know how you are doing. Remember I am always here to help!


Thank you again for your post Sundevyl! Please feel free to post with additional questions or contact me directly at julius@fxcm.com

Thanks, Julius. It is great to find a broker who calculates a day the way that makes sense!