I work as a broker for a known FCM. I was attempting to bring in a new client when the head trader said that this particular client had been barred. So, I asked a fellow broker what the head trader meant and he said that the client waits for the deal desk to take thier eyes off the screen and he goes in for a quick profit. As a result, his got account was closed. Does anybody know how in the world this works?
I don’t understand… was it a dealing desk where you are placing the trades for him?
How was he able to see your screen?
I’m not sure what he meant. All I know is that this particular trader knew how to manipulate the dealing desk and exploit it’s human error. I think it had something to with the spread. Apparently, FCM’s, as opposed to ECN’s, do not like this type of trader. In other words, this trader had a way of beating the house. Again, if you know of anybody who might know what i’m describing, let me know.
Most likely taking advantage of a price feed lag between the FCM feed and another faster feed. Scalping when ever price beat the spread in that short short short time period.
Brokers don’t play that.
You don’t have to worry about that when dealing with an ECN like EFX: Experience Forex Freedom
You can scalp all day/night long.
Remember to tell them THE RUMPLEDONE ONE sent you.