Out Of HotForex
All monies are now out of HotForex
and the PAMM has been dissolved. Our new PAMM is open for biz, and those who
are new to the website can email me at vegasxau@ymail.com
for more details. It takes a couple of days via wire, to receive funds and then
get them wired out again, to finally get monies into our new PAMM at Forex FS.
As I stated on my other post, I
had to change my twitter account because of technical problems; now I know why
they call it Twitter – all the “twits” who work there. So, if you would like to
follow my thoughts throughout the trading day, including closed trades of the
PAMM, simply follow “@vegastrades” [minus the quotation marks of course].
What got me so upset last Friday
was the way our PAMM account got treated by HotForex. Not only did the trading
platform malfunction and the feed dropped repeatedly throughout the entire
trading day, but four separate times – count ‘em – 4!!! – I tried to buy gold
and got a “server busy try order again later” message in my order box. Of
course, this is on a day that saw gold go up $80+, the largest daily gain since
2009.
You think maybe I was a little
heated?
Forget slippage, I couldn’t even
get into the system! Repeated attempts to get into chat were ignored by their
system. Now, I did get off 2 small trades in the currency pairs, but both were
met with 30 second + delays in fills. The first order in EURUSD got filled 8
pips away from where I wanted and expected a fill.
It is not my desire to down grade
HotForex; they do a good enough job on their own to do that and need no help
from me. But I will say this: anybody who trades at HotForex today, with their
execution problems and slippage issues, is NUTS!
If we hadn’t been asked to leave,
I would have switched out anyway. Over the last 4 months they have repeatedly
lied to me about upgrades, new liquidity providers, and reduced spreads. Not
much else to say except I would definitely not trade there any longer.
So, water under the bridge now,
and no need to revisit HotForex again.
I will start commenting on action
in the market tomorrow. Until then, have a good day everyone.
-vegas
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