As most people who know me, know that I routinely use max margin to leverage my trades. One of the TW accounts, for which I have 5, had a balance of 8500, at 500:1 leverage. (My account listed leverage at 1000:1, but in reality, it was only 500:1... problems with their site does not allow this to auto update when balance limits cause the margin schedule to change.)
ALL OF MY TRADES WERE INLINE WITH THE NEWS RELEASE.....
15 minutes or so before the release, I saw my margin level drop to below 100% with no price movement!!!
The news was released, my orders all hit... and all were closed at near the lows or highs...depending on pair..
I am now in contact with TW trying to find out why they halved my margin and placed the account in peril...
Needless to say, ,money will flow from those accounts, back my way today!!
PLEASE READ MY FOLLOW UP POST ON THIS, LOCATED LATER IN THE THREAD!
TW has just informed me that my account was reduced from 500:1 to 200:1(see above) ....
-CJ-
This post has been edited for the following reason: I just had an hour long conversation with Joe Carney, manager, at Traders Way. It was a good conversation. He explained everything that happened and changes are going to be made at Traders Way that will benefit all who have accounts there... I'll put another post up with more detail on these changes.
