Do you get requoted on ENC,s?
Because i just cant trade with Alpari uk anymore, I want to enter a trade at a good point i get requoted,i want to exit at a good point requoted its a joke im loosing a lot of money like this.
I scalp but why should this be a problem, they said they have no problem with it.
So im thinking about an ENC do they reqoute?
By the way im talking about requotes at quiet times.
If you are getting requoted for more than a pip or two that often then there’s probably something wrong on your end. Bad/slow internet connection or something like that.
If the price changes between the time you click the button and when the order gets to your broker and is processed you will get a requote.
Maybe you should stop scalping and start trading in such a way that a requote won’t lose you so much money?
Getrich,
I think you are talking about an ECN…
No you do not get re-quotes…but you get slippage that you cannot control. Using a true ECN is akin to entering an auction without reserve price…you take the price that you get…period. The broker will fill you “at best” price that they can provide from their liquidity pool.
A market maker is akin to entering an auction with a reserve price…you will get an offer that will not be your asking price but at least the broker(auctioneer) comes back to you to check if it is acceptable(via re-quote).
Re-quotes and slippage are opposite sides of the same ugly coin…you need to try and kill it and the first issue to look at is your VPS latency. If it is taking you 300ms to receive a tick and send a trade request, you are the only one to blame for not getting your price. I think of the “while stocks last” sign whenever you see a special advertised…if you are at the back of the que for that offer, don’t be surprised if they run out before its your turn. Ditto for your broker…if your order is last in the electronic que, don’t be surprised that all the liquidity at the correct price disappears when your order is processed.
If you want to scalp, then an ECN is the only way to go…the brokers will always pretend to let you scalp, but frankly, you are the one getting scalped.