Lets say in FXCM if I were to place the stop above the market price for a long position, it will give you a warning and allow you to go back and fix the trade.
You software acts just like UNIX, in that it will place the trade at an automatic loss.
Please fix this for both long and short orders. I think all you would need is an if then statement in the front end program.
Besides trading live money for myself, I need to have the signals sent to my subscribers be in sync, so any help with fixing your software to work more like the brokers order entry software would be helpful.
Also, in the future, think about adding a rolling stop not that I use it yet in FXCM, but it may be useful in the future.
What you describe is not exactly accurate, Brad.
If you try to place a sell stop order (I assume that’s what you mean) above the current market price, C2 will warn you and ask you if you really mean to do that. (It also allows you to turn off these warning messages. If you are not seeing the warnings, it means you specifically turned them off. Let me know if you want me to turn them back on for your account.)
More important, if you insist on placing the stop order anyway, even if your stop price is above the market price, C2 doesn’t “place the trade as an automatic loss” as you describe. It simply places a market order, and the trade is executed at whatever the market bid is. This is effectively what a sell stop order is – an instruction to issue a market order only after a trigger has occurred. In your case, the trigger indeed occurred.
The reason why we issue a warning and then allow you to override the warning is that there is always a possibility that the price is moving fast, and that, at one instant, the stop may be triggered, but at another instant it may not be. So we assume you know what you are doing, and - after issuing a warning about what you’ve typed in - we respect you enough to allow you to do it anyway.
Please note that I did not get any warnings so please turn them on for my account.
Also, in FXCM the warning is given if I am within 5 pips of the market price so I am not sure if the problem was that the stop to close at a loss was above the market price or just near it.
Anyway, as you may have noted, I was in a fast market when I was trying to make the changes to both my FXCM account and C2. Anyway, I am profitable for the week, since I kept entering new orders into C2 until it got them right. The only small harm done was to my win / loss %. I received a very strong buy long technical alert, and had to work as fast as I could when I normally have more time to fix things. Anyway, thanks in advance.
