To make it even more sad: it’s not exclusive to this business either. As is the case with Wall Street: it’s the ‘new norm’ in LIFE it would seem. And it’s not getting any better. Cynical and as sad as that may be really.
Regards,
Dale.
My edit must have been when you were posting Dale! LOL
Dear Dale
I’m sure you are not interested in my product, why would you, you are an IB for Delta Stock right.
For people the don’t know IB means Introducing Broker , a person that send customer to a Broker then gets paid for every trade this person does, you probably make 1 to 1.5 pips per round trip. Why you dont show us some of your compensations checks so all those people that only have 100 bucks to open an account with a bucket shop broker can just stop and learn from you how to make the big money referring. Tell us how much did your 4 thousand post on this forum net you in IB compensation.
I like the way you try to make people fell like there is nothing so here just move alone, how bad can it be some re-quotes and slippage. You are doing a great PR job for the Brokers, we should all send an email to Delta Stock and tell then to increased the spreads so Dale can get a rise.
But I’m sure the people that seen the ECNJESUS video realized that is much complicated than your simplistic explanation.
(which unfortunately I didn’t for a LONG LONG time and many tens of thousands of USD later).
Our product is design for people like you, that have many thousands of dollars to risk and in your case loose in the market. Not for the poor guy that only got 100 bucks. Is a professional product with technical support, it generates great reports that our customers love ( 4xGuardian Report) , because they have used to confront Brokers when something suspicious happen and they wore able to get trasnations rool back and recover real money.
if a broker is ‘bad’ they’re ‘bad’ and there’s nothing that you nor I or your software is going to do to change that. For every ‘bucket-shop’ that closes down you can be sure there’ll be another five to replace them from some ‘hole’ in Cyprus of Belize using the same software and plug-ins.
Also I never mention bucket shops. I did show you how FOREX.COM ( Gain Capital ) and FXCM ( two of the largest Forex Brokers in the USA ) rip people of many hundres of thousands of dollars.
But I don’t think you will ever stop telling people to just look the other way, don’t worry the plug in is just some re-quotes and simple thinks easy to spoot.
I wish you the best Dale have a nice weekend.
P.S.: My English is not perfect because in Italian people , GIANI.
Well that’s a very nice compliment. Thank you.
By ‘paperwork’ I’m assuming you’re talking about our SA FSB ‘paperwork’. It’s been there for, wait for it, SEVEN MONTHS on 26/02/2012 (tomorrow)!!! Just this last week I’ve gone ‘as high as I can go’ i.e. to the Head of the FAIS Department (which the FSB falls under). STILL no response. So this coming week: here we go again!!! I mean: where do I go after this??? The Finance Minister or the President??? LOL!!! And my beloved broker must be thinking we’re a ‘bunch of monkeys’ here. I mean: they’re registered and regulated by just about every regulatory body in Europe and with the FSA in the UK and they didn’t wait this long nor did they have to ‘jump through hoops’ to get their applications approved!!! If nothing else it’s embarrassing for ME let alone my ‘life being on hold’!!! I mean: yes it’s a complicated application because of the may liquidity providers and clearing houses and banks but SEVEN MONTHS??? Nah. Something not quite right here. But. You know me by now. I’ll do whatever it takes!!!
Nice to see / hear from you again after all this time. Been wondering about you but never felt the need to ‘bug’ you. But there’s a good few people around here missing your experienced input. I just thought I’d mention that.
Regards,
Dale.
God you are irritating.
You’ve made the move to outright spammer. Congratulations.
To pgiani:
Oh I can see where this going.
First: I’m no longer an IB i.e. I’m just a TAD more (important) than that NOW. Second and contrary to popular belief and as I’ve noted previously many times: it’s far easier to help EXISTING clients grow their accounts than to CONSTANTLY have to keep soliciting new ones to replace the old ones that have ‘wiped out’. That’s not how Deltastock operates or shall I say it’s not Deltstock’s ‘business model’. Third and to answer your question or rather address your comments about IBs: the amount of commission an IB earns on a $100 account doesn’t even pay for a box of cigarettes so it’s really hardly worth the time and the trouble. For the CLIENT though: it’s a different story altogether. Low deposit, high leverage, no education EQUALS NO ACCOUNT in a VERY short space of time. And actually: my case is proof enough. I don’t HAVE to be worried about my beloved broker. That’s why I’m so proud to be ‘in bed’ with them as it were and will defend them and their reputation at all costs.
How bad can slippage and re-quotes be??? Well a) that tells me that you don’t know much about the ACTUAL mechanics of order processing etc. and b) you sure know nothing about the equity futures and commodities markets.
Anyway: I’m not going to belabour this point with you. The people that buy software such as what you are tyring to peddle are the same people that will open a $100 account at Deltastock with a maximum leverage of 200:1 and expect to retire the next month. Nothing I can do about that BUT TRY to EDUCATE!!!
And one last thing: if slippage of a pip or two or three is going to ‘make or break’ your trading system then you’re trading system isn’t worth sh*t and the end result will eventually be the same i.e. ‘tears’. Software plug-ins or not.
Put it this way: a trader with $100 is probably better off opening a micro account at another broker and trading nano lots until they know what they’re doing. At least that way they can manage risk and learn discipline. On micro accounts: no ‘bent’ broker is going to go to the trouble of implementing some ‘money fleecing machine’ or plug-in. Once they’ve got their sh*t together and are consistently profitable: then move to a bigger account and to a broker with a good reputation. Once again: not rocket science. Just common sense and EDUCATION!!! And that’s the purpose that these forums serve.
And like I said: not you or your software or me are going to be able stop these practises. And that’s been one of my arguments here all along. ECNJesus, as admirable as his intentions may have been, has ben ‘gunning’ for the wrong target. Once again: go for the ‘rotten to the core’ brokers. Not some piece of (sh*t if I may say so but that’s a personal opinion) software.
Anyway: good luck. Your trying to peddle software here and create paranoia among any new trader that sees these threads is going to get you banned here without so much as anyone even REPORTING your posts. Just see if I’m right.
Actually and call me paranoid if you like: for all WE know you could be in ‘cahoots’ with ECNJesus. What a fantastic marketing plan. He puts the ‘fear of God’ into new traders and you come up with the ‘almighty miracle solution’ to the problem. At a cost of course.
You also seem to have a problem interpreting what I’m saying just by the way. I’d hardly call MF Global a ‘bucket-shop’. And look what’s happened??? That’s (was) a US registered and regulated broker??? But it was a ‘broker gone bad’. ‘Bucketshops’ are just ‘bad’ from the start was my point.
But REALLY what I’m saying is: leave me and my beloved broker OUT of your little ‘sideline business’ is all.
Regards,
Dale.
Hey thanks. That made for a good ‘giggle’ before bedtime!!! LOL!!!
See ya tomorrow.
Regards,
Dale.
And by the way one VERY last thing I’d like to add here (see my quote of one of my own posts that you so quickly ‘picked up on’):
The reason for THAT??? Because I TOO, like most, ‘jumped in boots and all’. Never bothered to EDUCATE myself on even the basics e.g. what a stop order is and how a stop order is ACTUALLY EXECUTED in the market and therefore didn’t understand slippage. Never bothered to ask WHY or UNDERSTAND why a market order was being re-quoted. The reason: I thought I was ‘brighter’ and ‘smarter’ than some of the seasoned traders around here at the time and wanted to do it my OWN way. So even although my first broker was, and still IS, a KNOWN (labelled and proved and with court cases pending against them although none of them being mine) ‘SCAM’ artist: I had my OWN part to play in my humongous losses. I’ve always said: I would have lost that money ANYWAY. My first broker simply ‘gave me a helping hand’ and ‘accelerated the process’. Once again: EDUCATION!!!
Right. Now I AM ‘done’ with this.
Regards,
Dale.
But seeing all your videos are being deleted. I imagine that this just might be a conspiracy so large (like 4 trillion dollars large) that their just might be a lot of “good guys” in on it that don’t wanna be exposed. But I am hoping and believing for honesty with the broker I have chosen. However I am interested in seeing these videos but all the links I went to had removed them. Clarkfx, would you please email me these videos. If there is any truth to them, let the truth come to the light! I shall discern for myself. Thank You and…
thetruthplease!!!
Since the majority of traders that use MetaTrader to interface with the market are retailers, it hardly applies to the 4 trillion daily turnover.
And the “good guys” were to busy cleaning up on LIBOR rates to even be bothered with the 3% or so of the market that retail trading is.
The most recent case of anyone being accused of manipulation of price was FXDD. That is currently unfolding, as the NFA filed their case on June 29th of this year.
The level of issues there pale in comparison to the transgressions of MF Global. And speaking of brokers with issues, PFGBest is currently having some problems. I hope that one gets worked out. I’m not sweating… yet…
My name is Damon Hunt, I have been a trader for over ten years, an account manager for 4 and a teacher for a couple years. I can be found at HuntTheForex dot com and fundsforexmanaged dot com - I am on youtube if you look too.
My point is, I know forex, I know that the better I trade the harder it gets for me, broker conditions change. So I have founded and direct my own brokerage at PellucidFX dot com (Look up the word “pellucid” if you do not know what it means) I am attempting to create a brokerage that does not fight the trader, the market is a hard enough opponent.
I have not seen the videos that are being spoken about in this thread. But let me tell you, as standard MT4 Manager software, I can set the minimum slippage for any trader, pair and type of account. I can set it on any type of order (Manual entry, Limit, stop, SL, TP, anything.) I can hunt stops by widening the spread to hit the stop at anytime and can set automatic parameters to do so, this you can do when you have a full mt4 licences (one of the bonuses of upgrading LOL!). I can allow the trader to get only a percentage of positive slippage, or none at all. I can turn on extra profit settings to my hearts content. I can set the delay that a trader gets on his execution, if you start winning I can increase your delay, increase your slippage, hunt stops, all automatically. So imagine what a broker can do when he has a dealing desk, basically, a dealing desk means the broker has people that make money to hunt you down and make you lose.
So if any of that is in the videos, it’s true, they can and as part of my training to run my brokerage I am encouraged to do so, I am shown the ways in which traders can spot me doing this and so encouraged to use settings that are in the gray area -maximizing my profits while not making the trader suspicious.
A very simple way to see who might be doing this is impossible spread and execution conditions, If I have my fixed EU spread below 1.6 pips, I cannot afford to operate, if you see a spread below this the broker may be losing on your execution and betting that you will lose your money to him, in fact they may be helping you to lose 
My brokerage is not regulated, regulators do not care about this, they only care that you pay the right people and follow some ridiculous rules that apply to nothing pertinent. Notice the biggest crash and burns of brokerages have been regulated, regulations usually work against the trader and the brokerage (harder trading condition - increased cost to run brokerage)
The main reason I am personally directing my brokerage is so I can be the head risk manager and make sure none of these things happen in my brokerage. I cannot reduce my spreads to nothing as I am not ripping off or hunting clients. I keep my spreads at rock bottom and offer the best conditions to traders even in the smallest accounts. I am working on software that will display broker settings to the client, but so far have not found a way to do that. The best way I have found is to have spread and execution tracking EAs on your account, you will notice that you will receive positive slippage in your account, you will notice the high speed of execution, or you will notice that these things are missing 
I have one more thing to say on this, if the broker is sending your trades through to the market (STP), it may take some time for the trade to fill, there is 5! extra market checks and protocols that the trade goes through during execution, this adds time, but there is no option to delay the actual trade order like there is if the brokerage is taking the other side of your trade, so if the trader is betting against you, you actually have the best trading conditions, but if you make money against him he will want to stop you from winning and increase your delay, slippage, minimum spread profits, anything he can do.
At PellucidFX, if the trade is bigger than 0.1 lots you are filled via the market (AUTOMATICALLY), in other words, we want you to win, as PellucidFX is not betting against you the only way the brokerage makes money is on you trading more and more (Winning). If the trade size is below 0.1 lots PellucidFX is taking the other side, and this is only due to execution speed, it is harder to find tiny orders in the market, and again once the brokerage is imbalanced (to many longs over shorts on EU) I will do a block trade against the market to balance my risk. Again I am not betting against you losing, I am trying to give the best conditions I can give.
Right now I have no way to prove this, I mean, I could take a screen shot but I could easily change it after the screen shot, so that is not proof.
Another thing I am doing in my brokerage is encouraging traders to learn, I am affiliating with gurus and websites that actually produce better traders.
You know since I know the insides of the brokerages i can see what brokers are claiming to do is impossible and alot of the time they are saying something in a certain way so clients will “think” they are getting something when they are not. For example, ECN means commission based, it does not mean that you are trading on the electronic communication network, there are very, very few brokers that do this and you need large accounts to get on a proper ECN, but on PellucidFX I am forced to say ECN to compete, but it is not really ECN, it is just commission based trading, the excellent thing about even a fake ECN is that you are getting raw spreads and it is nearly impossible to turn on any of the slippage, profit and hunting features, because if you do, it is screamingly obvious, so if i have anything good to say about this, stick to ECN, even if it is not really ECN
Hope I helped a bit.
Know that these guys are running the brokerage to profit. they are business men and have investors and boards of driectors and meetings all based on increasing the profit, I am running my brokerage to have a nice place for my friends and I to trade, my clients in the managed accounts would not notice if I slipped the crap out of them, I just feel good if I don’t :13:
Damon Hunt
Guys,
I looked into it in more depth and found the following on the Currenex website:
[B]Currenex Margin Risk Manager[/B]
The Currenex Margin Risk Manager is a feature-rich, comprehensive margining system that provides you with control of risk parameters and leverage for your traders on a trader-by-trader and currency-by-currency basis.
[B]Currenex Intelligent Pricing Service (IPS)[/B]
The Intelligent Pricing Service (IPS) is Currenex�s liquidity risk control system for configuring automatic spread logic and position risk management capabilities. IPS allows you to set spreading parameters for each source of liquidity on a per-currency pair basis, then aggregates those streams into a central order book [U]where settings may be specified for each of your traders[/U]. Additionally, IPS provides real-time statistical reporting on liquidity providers and trader positions.
(Source: Currenex | Trading Services - White Label Solutions)
[B]So as I understand it it is not MetaQuotes to blame to incorporate this function in their MT platforms[/B]. They have to, otherwise their platform has limited functionalities for the Brokers/Dealers. It appears that they are just passing through the functionality offered by the ECN platform. It is up to the brokers how they use it. [B]The functionality is present at the core of the retail FX market and almost certainly used in other platforms as well[/B].
So having given it some thought:
- This doesn’t look good for the true scalpers (100s trades taking minor profits)
- It is probably annoying for the longer term traders, but if used by your broker, a fact of life.
- Keep a close look on the executions of your trades. If you use EAs, let them record your trade parameters and the ones used for the trade by your broker, and compare these. If not acceptable, adjust your system or switch broker.
- Have MT4 accounts at other brokers to compare.
- Switch to ECN platforms when possible.
- However, true misuse of the functionality, such that trading will be impossible will give the brokers a bad reputation. And they will suffer more from a bad reputation than profit from scalping minute extra pips.
- As said before by dpaterso, if your system can’t handle it, you may have to reinvent your system to deal with this.
- It is not the end of the world. As I understand, this has been in place for a long long time and traders are still able to make profits.
I will monitor this for myself at Alpari UK.
Happy trading.
Please sir,
I cant find your videos anywhere on the internet iv been searching allot their all forbidden .
would anyone tell me how can i get these videos plz
1 Like
Please could you explain me how you do the following :
I can set it on any type of order (Manual entry, Limit, stop, SL, TP, anything.) I can hunt stops by widening the spread to hit the stop at anytime and can set automatic parameters to do so, this you can do when you have a full mt4 licences (one of the bonuses of upgrading LOL!). I can allow the trader to get only a percentage of positive slippage, or none at all. I can turn on extra profit settings to my hearts content. I can set the delay that a trader gets on his execution, if you start winning I can increase your delay, increase your slippage, hunt stops, all automatically. So imagine what a broker can do when he has a dealing desk, basically, a dealing desk means the broker has people that make money to hunt you down and make you lose.