Question about EFX limit orders - Page 4
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Thread: Question about EFX limit orders

  1. #31
    Justin -

    I feel your business in addition to MBT have ethics to do the ideal thing and that I feel you guys try to make it a win-win situation, so I think most people when studying a post about a complaint, etc. can judge if it had been dealt with in the ideal manner.

    There is definitely a level of responsibility that we Client's have and a certain level of responsibility that the Broker has, so unless someone is darn-right just unreasonable, there is no denying that not all situations can be managed in the same manner.

    Myself, myself, am happy with how EFX/MBT handles issues so far, and that I feel EFX/MBT has shown themselves to be fair and with integrity.

    I really do see both sides of the fence on matters, as I feel that's the fairest way in making sure that it's not all one-sided. I'm constantly for making matters a win-win situation, and I really do feel that EFX/MBT tries to do exactly the same where possible

  2. #32
    Quote Originally Posted by ;
    Just interested, where is this thread hostile?
    LOL, well that is just my opinion on how I browse some of the posts here, so in the event that you don't notice that any of those posts (some of them yours, my beloved, lol ) were sarcastic, then I suppose it was just me who read them like that, lol

    P.S. I hadn't read Justin's post before that previous post, because I was writing mine while he must have submitted his, so my post was not about Justin, lol. I think he handles himself fairly respectfully and with dignity (at least with the posts I have read of his, so far ).

  3. #33
    Quote Originally Posted by ;
    LOL, well that is just my view on how I browse some of the posts here, so if you don't see any of those posts (some of them yours, my dear, lol ) were hostile and sarcastic, I guess it was just me who read them that way, lol

    P.S. I hadn't read Justin's article before that previous article, as I was composing mine while he should have posted his, so my article wasn't in regards to Justin, lol. I think he handles himself pretty respectfully and with dignity (at least with all the posts I have read of his, thus far ).
    I browse sarcasm as funny and aggressive as hostile.

  4. #34
    Quote Originally Posted by ;
    I read sarcasm as funny and hostile as hostile.
    Ahh, lol.

    Well, sarcasm, I agree, could be quite funny when done right and in a dignified and non-hostile manner, lol

    Though I guess some people do get a kick out of hostile sarcasm, lol

  5. #35
    Quote Originally Posted by ;
    Just interested, where is this thread hostile? But for the fact that it feels like the conversation was over, and maybe took a shot in the Mods a little, sounds like a good talk to me. He simply wants to be sure that people understand the consequences of getting a bad execution on the entrance piece of this commerce and what that means on the side of the transaction, and Justin is offering him a solid reaction. There's some fantastic one-liners in here. I don't see how this thread is still hostile.
    Well some people should not look much further then tip the of their nose...

    thanks for understanding my point of view leighsww, the entire thread was rewarding only b/c of your understanding and support.

    Thanks again to Justin for solving the matter and giving such a thorough explanation, too bad it all had to go through numerous iterations.

  6. #36
    Well, I've helped out at a web hosting forum for many years (lol, I have 13,000 posts that there , so I would say that I have a lot of expertise with helping in managing issues ) and I try to be logical, reasonable and fair in my judgements and opinions to both sides of the argument (but we also joke a lot there and have a lot of fun, as well, so our sarcasm is more due to good humor and humor among friends, lol).

    I've seen people post there after having received an unfavorable answer from tech service and occasionally we find that a newbie techie has given the client a wrong answer, so we do help to resolve the problem if this is true and usually a greater upward Admin will bill to confirm that they had been given a wrong answer by technician support.

    I chose not to become a Mod there after approached, since I would sort of be obligated to be biased in a way, since the forum belongs to the web host firm, unlike here whereforexintuitiveis not affiliated with any particular broker but mainly acts as a means for Forex Traders/Brokers to collect and share/converse/teach/learn/lol, even gripe/etc.

    Without forums, many people wouldn't get problems resolved in cases where the techie was wrong and it's fruing for a client to be told something is their own fault, when in actuality, it was not. The inverse is also true, in which a client blames the server to get their host being down and following a number of us test the accessibility to their website, we can access it with no issues thus we then help them determine what the issue with their connection might be (usually it's a caching of the old IP address once they've switched servers, or a blocked linking hub along their Internet connection route or whatnot).

    I feel forums are extremely good in that way, so that people have another means to get their issues double-checked and solved, as well as a learning/sharing instrument for people needing help with just overall development skills, etc..

    Whether at my hosting forums or here at FF, the exact same holds true for both. Even though you could have managed your problem with EFX, I wouldn't have known then about the busted commerce and TTO issue myself, so your sharing it had been an advantage to me.

    It was due to those forums that I chose EFX/MBT to function as Broker and learned alot about ECNs vs dealing desks, etc.. If it was not for individuals sharing their experiences (good and bad) lots of people would be left with no clue of what they are getting into.

    Because everyone has their own perspectives on things, each of us gathers the information presented and create our own decisions based on what sounds the most sensible and sound.

    Anyhow, I didn't see your post as unreasonable and like I stated, I gained a few worth and knowledge in the entire busted commerce and TTO problem myself, lol.

    I hope we could all contribute productively to each other, as well as just have some fantastic fun occasionally, also (hopefully there is people here with fantastic sense-of-humors, lol)!

    Having a friendly and inviting forum neighborhood constantly generates a lot of wonderful energy and vitality, which will then, hopefully, transpose to our trading success!

    Great luck to you and hope to bump into you again on the forums

  7. #37
    Quote Originally Posted by ;
    Well, I've helped out at a web hosting forum for many years (lolI have 13,000 articles there , so I would say I have a lot of experience with assisting in handling dilemmas ) and that I strive to be logical, reasonable and fair in my judgements and comments to either side of the debate (but we additionally joke a lot there and have a lot of fun, as well, so our sarcasm is more because of good humor and humor among friends, lol).

    I've seen folks post there after having received an unfavorable response from tech service and sometimes we discover a newbie techie has given the client a wrong response, thus we do help resolve the issue if this is true and usually a greater upward Admin will post to affirm that they had been given a wrong response by tech support.

    I decided not to become a Mod there when approached, since I would sort of be bound to be biased in a sense, since the forum belongs to the web host firm, unlike here whereforexintuitiveisn't affiliated with any particular broker but mainly serves as a way for Forex Traders/Brokers to collect and share/converse/teach/learn/lol, even gripe/etc.

    Without forums, a lot of people would not get issues resolved in cases where the techie was incorrect and it's fruing for a client to be told something is their fault, when in actuality, it wasn't. The inverse is also true, where a client blames the host for their server being down and following a number of us check the access to their site, we can get it with no problems thus we then help them determine what the problem with their connection could be (usually it's a caching of the older IP address after they have switched servers, or even a blocked connecting hub together their Internet connection path or whatnot).

    I believe forums are very good in this way, so people have another way to acquire their issues double-checked and solved, as well as a learning/sharing tool for those needing help with just overall development skills, etc..

    Whether my web hosting forums or here at FF, the exact same holds true for both. Even though you could have managed your issue with EFX, I would not have known about the busted trade and TTO issue myself, so your sharing it was an asset to me personally.

    It was due to those forums I chose EFX/MBT to be my Broker and learned alot about ECNs vs dealing desks, etc.. If it wasn't for individuals sharing their experiences (good and bad) lots of folks would be left without any clue of what they are getting into.

    Since everyone has their particular viewpoints on matters, each of us gathers the information presented and make our own decisions based on what sounds the most sensible and sound.

    Anyway, I didn't see your article as absurd and like I said, I gained a few value and understanding from the entire busted trade and TTO issue myself, lol.

    I hope we could all contribute productively to each other, as well as just have some good fun sometimes, also (hopefully there's people here with great sense-of-humors, lol)!

    Having a friendly and encouraging forum neighborhood always generates a lot of wonderful energy and energy, which will then, hopefully, transpose into our trading success!

    Good luck to you and hope to bump into you again on the forums
    great Luck in trading and what else to you also, see you around here

    others - good luck and keep safe on the market, without any hard feelings I hope...

  8. #38
    Quote Originally Posted by ;
    I have been using EFX for about 8 months, mainly for limit orders (together with the accompanied TTO of course), and has been happy with it.


    On Thursday 8/16 17:25 EST, a impending limit order to sell NZDJPY @ about 88 was triggered (price was around 79 at the time):
    My first order was implemented at 152.19 (now that is a wonderful fill ai not it )

    My TTO was trigerred too of course and since the market has been lower my position has been closed after the TTO triggered and bought in 79.43. I was away in the computer in the moment.

    Once I came back about 19:00 EST, I saw I was left LONG 2500 NZDJPY @ 79.43.
    That exact minute I received a phone call from an MB representative and he explained about the 152.19 trade being busted. Bummer, but no problem as it is obviously a lousy quote (although EFX's repsonsibility as most of other qoutes were probably taken off as a portion of their liquidity issue). While not having a issue with the trade being busted, I have a BIG problem with being left at 79.43.
    I had to argue with the representative for about 15 minutes why I should not be long nzdjpy and that he eventually gave me an email address of the person who may be able to make decisions concerning refunds. He explained I will find a reply the next day (Friday). It's tuesday afternoon.

    I suffered a small monetary loss as I risk really small sums (but still 4% of my account!) , but the real problem here is that a individual can't leave pending orders on EFX's platform --
    One has a bad implementation, the transaction is busted and he is left with an unprotected (TTO has been triggered, you are either long or short but have NO STOP!) Place he did not mean to initiate UNLESS his pending order was implemented.

    To re-itereate: limit order implemented (event A occurs ), TTO orders started (triggering event B), all's well up to now. Now the original limit order is busted (A not valid anymore) your TTO order (event B, trigerred CONDITIONALLY in the event A) is still valid and you've got an accidental open position, unprotected, in the market.

    This is especially worrying since MB has server maintanence twice a day around 5pm and midnight EST and bandwidth is rare at these times, prone to away market limit orders being triggered.

    I'm confident that you know a customer has everything to lose trading limit orders on EFX together with the danger of something similar to what happening hanging over his head.

    I hope to receive a refund of this small loss incurred but I wonder if Justin can assure EFX customers that if a trade is busted, all subsequent transactions triggered by the busted one will be considered invalid and the money won/lost on these being returned (and explanations of this TTO being a legit trade eventhough the original trade was busted might hold in court but should not satisfy any thinking customer). I won't use limit orders on EFX until I receive such an assurance.

    I'm wondering if the transaction would have been busted if I (the small customer) was around the other side of this trade (could have occurred if I used a market order to buy in the exact same time- would have been stuffed in 152.19)?

    Did such a thing happen to anybody reading this? I'm interested in hearing how your bad/great matches were treated...
    I'm presuming that you mean that you had a Limit TTO from the machine, which is what you meant with conditional?

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