Sunday, January 25, 2009

PROBLEM UPDATE: trade executed correctly?

Zulutarde is claiming that my trade was actually left open by FxMarkets and there is no error on their part. The loosing trade is now in the preformance history as hitting the SL. When they agreed with me that the trade was left open and had been closed by FxMarkets it was a software glitch which blocked them from seeing open trades, but it was really still open on FxMarkets side aswell. And the closed trade we saw in FxMarkets history was a second trade open in the same minute but this was actualy closed with 16 pips profit.
After reading my email reply below which is within the email text of zulutrade, please let me know which version you believe. I have no solid proof and I might have to give up the fight but besides the $500 lost, I have bad feelings trusting them with my money if my assumptions are correct. Lets hope they are correct and I was unlucky.

Dear Zulutrade,

I will respond within your email on the points you mention and then afterwards I will continue my comments. Only 2 days ago you explained the problem being caused by timezones problem. How can it take over two weeks to realize there were "two trades" on the same minute and mine was the unlucky one?
Please read it all through.
thank you.


On Thu, Jan 22, 2009 at 10:41 AM, zulutrade support
wrote:
Dear xxx,
Yes, we admitted we do have a problem and the same as you we though that the trade of 14:20 has already been closed.
However as it turned out later the problem was not in missing signals, but there was a glitch in our system due to which we could not see the open positions of a signal provider as mentioned in previous email. Neither our staff, nor the clients. That is why this confusion took place.
I am sorry but in my first mail I mentioned I checked the Excel sheet of
FxMarkets and saw the closed trade with the SAME provider ticket of 11.633... I also checked the dropdown and chose FxMarkets on the "positions" tab in my acount and I saw OTHER live trades but no trade opened on 31.12.08 14:20 so I did not suffer from a glitch and I saw clearly a live trade closed with the same provider ticket and other live trades not closed.
As we could not identify a problem at that time because it has never happened before, we assumed the same thing as you did because we saw the closed trade which has opened exactly at the same time as your trade did. However when our technical department started analyzing the issue together with FXCM (because they informed us that they will take responsibility if the signals were missed), we found out that none of the signals were missed and that FXmarkets sent two signals at the same time 14:20 (2:20 pm or 9:20 NY time). One has been closed at 16 pips profit, the other has closed when it hit the stop at -487 pips. Please check signal provider's history page more carefully. There are two trades executed at 14:20, not one. But because of the glitch in the system our staff could not know that at the time.
I dont know if there were always 2 trades from the same minute, but my trade was the one which closed correctly in profit since i have the same provider ticket... please check my email from whislt the trade was still open.
And it is not correct to say that fxmarkets has never let the trade to go
up to 271 pip profit.
I mentioned FxMarkets doesnt let the trade get to 271 in PROFIT, not in DD. When ever he had such high profits it was closed shortly later at the most 104 pips away. Ofcourse in DD he goes even further then 271, and even further then 487 pips and would have gone over 700 pips and not let the trade close in Loss.
He uses a trailing stop or something like that and wouldnt have let the trade reach such high profits and then go back again into minus.
Please check his history page. Sometimes he opens short term trades, sometimes he leaves the trade open for a week with a huge drawdown, but closes the trade in a big profit. He likes to place 2 trades at the same time,

FxMarkets is a responsible provider and doesnt leave a trade in 270 pips profit to go into minus again, He always takes profit much before reaching 270 pips anywayTrades which are opened together by FxMarkets are closed almost together, he just waits for a retracement.

so now we are aware of this and will be more careful when a person gets in contact with us claiming that his position has been closed by fxmarkets, but appears open in zulu from now on we always check the provider tickets of the trades instead of looking at the times of open trades

and that is exactly what i did, checked the provider tickets and not the time, and my ticket matched the closed trade

and will check the open positions of a signal provider with technical department in order to avoid such misunderstandings. If you know any person whose trade of fxmarket (31/12) did not close after 06/01let us know, because we did not have any complaints about that. Everybody have either closed their trades manually earlier thinking that the trade appearing in fxmarket's history is their trade and avoided further losses, in other accounts the trade has been closed by the stop value of a signal provider.
We appologize for inconveniences. In any case after analyzing everything carefully we do not see any reason for a refund as the trade has been executed correctly.
Kind Regards,
ZuluTrade.com
Customer Support
48 Wall Str.,New York NY 10005, 10th floor suite

So my dear zulutrade, lets sum it up:
  • I saw FxMarkets other live trades when you say there was a software glitch which prevented checking open trades.
  • I checked the provider ticket of closed trade in the excel (which has since been removed) and compared it to my provider ticket on the open trade FxMarkets is a responsible provider and doesnt leave a trade in 270 pips profit to go into minus again, he always takes profit beforehand anyway
  • What a coincidence that just that trade which is mistakenly "thought" to be
    closed is one out two from 566 FxMarkets trades which are closed in loss, when this problem has no connection with it being a loosing tradeTrades which are opened together by FxMarkets are closed almost together, he just waits for a retracement.
  • Only 2 days ago you explained the problem being caused by timezones problem. How can it take over two weeks to realize there were "two trades" on the same minute and mine was the unlucky one?
  • Why have you removed the Provider ticket from the Excel sheet? It was very useful to identify a trade.

I therefore feel something is missing in this issue which doesnt let me understand your reasoning.

Thanking you in advance I am awaiting your feedback.
kind regards
xxx

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