The trading day began with a failed attempt to buy 35 lots of GBP/USD at 1.9057 at 10:49:48 GMT – a relative quiet period for the pound as the chart during that time showed. Why the “off quotes” rejection? I don’t know. Someday, someone from the other side might be able to explain it to us. 🙂 See the log covering November 21/22 (in a new window)
A 12:00:10 attempt to open a 35-lot position on USDCAD by selling into weakness was also unsuccessful – only this time it took the rejection 10 seconds to materialize! See the log snapshot below:
12:00:10 ‘1002’: instant order sell 35.00 USDCAD at 1.1431 sl: 0.0000 tp: 0.0000
12:00:10 ‘1002’: request was accepted by server
12:00:10 ‘1002’: request in process
12:00:20 ‘1002’: order sell 35.00 USDCAD opening at 1.1431 sl: 0.0000 tp: 0.0000 failed [Off quotes]
While waiting for the rejection, the Dollar-Cad proceeded its descent to 1.1420 before dropping even further. Don’t you love when that happens? Overall, the day was positive – even though the only losing scalping trade could have been cut in half if the trader wouldn’t have been rejected a few times while trying to get out before the stop was hit. See the log and notice the “off quotes” starting at 13:38:11 while the trader was trying to sell the 35 lots of EURUSD. You can’t win them all, right?
There is also one “requote” message on today’s log. See below:
14:44:54 ‘1002’: instant order buy 35.00 EURUSD at 1.2923 sl: 0.0000 tp: 0.0000 (order placed at 14:44:54 when price was 1.2923)
14:44:54 ‘1002’: request was accepted by server
14:44:54 ‘1002’: requote 1.2924 / 1.2924 for open buy 35.00 EURUSD at 1.2923 sl: 0.0000 tp: 0.0000 (order requoted at 1.2924 – less than the 2-pip deviation setting away. Why?)
It’s a mystery why the above “requote” took place on MT4. The trader should have been filled at 1.2924! Why wasn’t he? Was there less than 35 lots at the other end? This is one reason why we haven’t increased from the 35-lot level.
Tomorrow and Friday are likely to be very quiet due to the Thanksgiving Holiday (tomorrow) in the States. Probably not a good time to day trade. Tomorrow [Thursday] FXLQ will shut down their servers from 8:00 AM EST to 8:00 PM EST – so we couldn’t trade even if we wanted to.
Happy Thanksgiving to you all!
