Can we really WIN?

lol, fair enough:p

I experienced 3 minute fills and today, “slippage” of 75 pips with GFT. Sometimes brokers are totally slimy. I’ll try MBT as soon as my account is ok’d, but I’ll keep just enough in my account to use gft’s charts which I like. MBT is a non-dealing desk, so it’ll be different…I exploit the stophunting that DDs use (not primarily, but I’ve taken some $$ from them) so that won’t be doable…

Its really gonna come down to your trade style and who you like…some hate this broker others love this broker…but 3 minute fills and 75 pips of slippage - those are the signs of crooks.

That is completely ridiculous, and exactly the reason I have primarily traded with Oanda for years. I don’t have to worry about fills. My stops and limit orders are executed right on the number.

In terms of the general discussion, I don’t honestly believe there’s a lot of broker manipulation of prices to run stops. If they did that intentionally, they’d be out of business pretty quick one way or another. This strikes me as being more an excuse offered up by frustrated traders who basically had their stops too close to the market.

3 minute fills? 75 pips slippage?

That’s hard to believe that happened from a large broker such as GFT??

Where you trading during a news releases?

My opinion…
OandA is best and safest broker…50/1 leverage…very small trades are OK
If you are afraid to lose money…dont trade forex
learning to trade…at least a year…took me 3 years
I lose half my trades…smaller losses…larger wins
trading a news event up front is called gambling
get a real good news/event calendar,4Cast has one,also ForexFactory
sometimes I do gamble a news event, but thats not trading

Oanda still the best? I dunno about that. I think Felix’s people just started making too much with this news trading…kinda pissed Oanda off.

The question is do you want to win? If the answer is “yes”, than you will.

I understand how you feel about stop hunting. I’ve been stopped out to often by 1 pip. No mater how deep I place my stop. My wife says I take it too personal. I’ve been trying a new strategy that will scare most traders. I go with a strong trend. Go the opposite direction 10 pips and put a buy or sell limit and take profit at 30 pips. That takes care of the spread and gives a good profit. No stops. If you look at most pairs, they rise and fall an average of 45 pips each way. If you put a deep stop of 50 pip, its the same thing. The trade usually closes before morning. Also, learn patience. I have gotten out of loosing trades at a loss. After checking a few of these trades, I found that had I held them untill 23:00 they would have been winners.

Dear Traders,
Iam a full time forex trader for the last one and half years. I first started off with FXCM and when DBFX came in to the scene I moved my account there about 4 months ago…
When ever I read any forex forum on the net I always get a feeling that I’m the only customer FXCM had. Because every one else thinks FXCM is the biggest enemy of retail forex trader. When I first started trading my main concern was security of my funds and thats why I chosed FXCM and never realy bothered about other brokers.
I grew my account over 400% (this is after withdrawing money for my personel expences) in the last year with FXCM. One main reason for my success was, I realy didnt go to any forex forums on the web until a month ago. Therefor I realy didnt know how bad or good FXCM or DBFX was. All I knew was about a year ago when I tried to straddle the news my account manager from FXCM called on my phone and said Iam not allowed to straddle during the news and after he convinced me why I shouldnt straddle , I never did since then. I never executed a new trade 15 mins before or after a news release for the last 12-14 months. apart from I cannot trade the news I never had a problem what so ever with FXCM . One of main reason I went to DBFX was my account manager moved to DBFX from FXCM and he told me that DBFX is using their white label system and also have outsourced the dealing and CS staff to FXCM. Iam currently happy with DBFX and no major issues at all(No news trading) . Just two months ago I bought My self a Nice house and a BMW (partly Mortaged) from the trading profits.
Iam only doing day trading and I follow my own system. I dont call my self a proffessional trader because I dont draw any lines on my charts :slight_smile: I used to be a door to door salesman before I started trading and I didnt know jack **** about trading untill one of my work mates just mentioned about it. Just like everyone else I lost more money than I could afford in the begining but I learned from my mistakes. I started with a uSD 50000 loan and my account balnce today over USD 2700000 after paying off for my loans and expences…

When I went to U.S last December DBFX guys invited me to NY and spent over $2000 on me taking me to nice restaurents and my hotel bill. (also visited few strip clubs with my account manger sponsered by DBFX :wink: )

When my account hit the 1/2 million mark I will move it to a currenex broker and hoping to trade with big boys.

So if I can do it , anyone can do it. May be we all are worrying about our brokers too much and not worrying about catching the daily trends for the day.:confused:

well seneka 2.7m is a very impressive account. you should post your system and help the broke peons like myself:D

inspiring story by the way!

I have been trading with demo/testing/real accounts about 3 years now and I am still looking for the good broker out there =) so if anyone find a good one that is reliable please let me know

everything involve with money is quite evil isnt it

If u can aviod trading on news times and scalping, any average reputable broker will do… just stand on their ground, they needa make a living too… dats why they hate scalpers.

Another dated thread, but some valid points…

Anyone recall the bad old days of “Investment Bankers” like First Jersey Securities or Greystone Nash? How about Blinder Robinson? (Commonly refered to as Blind’em and Rob’em… :eek: ) We are still in the Wild West days in the retail FX markets. Watch your A**.

im fairly certain Ive seen FXCM support and even suggest scalping in one of their little daily messages about webinars and such.

whats the big deal about scalping? everyone hates scalpers?
if its so impossible for anyone to make money scalping then why all the hate?

besides scalping fits my style because i can;t walk away from the comp with a trade open:o

“80% of scalpers win more trades than they lose, but their losses are always much greater than their wins, hence they still lose in the long term” words from a guy at a dealing desk. not me off course.

Try Interbank.

Ok your post seems interesting but you fail to provide the most important information to sustain your claims: Please explain what hidden costs brokers have ?

You are freaking some people out, so please elaborate on this

The only ones I can think of:

  • Most brokers charge a “swap rate” (interest) if you have an open trade intra-day… although it can also go in your favour depending on the pair.
  • Some brokers charge a “convenience fee” of $20 to withdraw your money via paypal, credit card… they may charge you for a wire transfer, etc.

oh :confused:
by swap rate you mean the roll over ? for the convenience fee, i’m simply gonna ask my broker (forex.com), i’ll ask too for the wire transfer fee …

I got a newbie question: in short, please explain what is a “scalp trade” and a “news trade”

thanks

Scalp trade = in and out. Generally within a few minutes or less. You buy, take your 5-10 pips and get back out. Basically it’s the most short-term way you can trade. Scalp trading may or may not be a part of a “day trading” strategy.

News trading is similar because it’s normally quite short, but not always. The name sums it up pretty much… you hear news, “Inflation rates have risen/fallen to X.XX” and you immediately go and buy/short based on that news. As far as trading on fundamentals go, I guess that is as extreme as you can get.