Is it a fair business ?

[Tekunda]

Originally posted by PittsburghFX


I have figured some ways around it, but at the same time, I am giving up allot in order to do it, so life is a give and take.

Sorry, but please explain: What have you found a way around for and what are you giving up? Sorry if I am a bit slow.

One of the attractions of the Forex market for the small guys like us is automated execution. If this market will grow more and more, the market makers will have to come up with a different solution than putting winning guys on manual.
Nobody will accept this in the long run. Right now market makers can do what they want, it is unregulated, but times are changing. The bigger this retail business will get, the more the government will take a look into and regulate it. I bet, in a few years from now it will be a totally different market.

[MickMason]

Originally posted by Tekunda


If this market will grow more and more, the market makers will have to come up with a different solution than putting winning guys on manual.
Nobody will accept this in the long run.

You will always have a choice, simply don't trade!

It's not winning traders per se that they put on manual execution, it's piss-takers who overleverage their account and trade mega-bucks on things like NFP, picking off spikes, quick two or three second trades taking advantage of off-market quotes which the broker has no time to hedge against on interbank, that's not trading in my opinion.

I expect if the problem got out of hand for the brokers they would introduce a time limit on successive trades so no-one would be able to dive in and out of the market in seconds.

The minority unfortunately spoil it for the majority, and brokers have to earn a living too you know, without them we're all sunk!

Mick

[jasperforex]

For every 1 person that manages to make money by whatever means, there are at least 10 people that lose and so earn money for the broker, so I don't think it's much of a problem, or at least we shouldn't start worrying about where the brokers are going to earn their bread!

[MickMason]

Originally posted by jasperforex
...we shouldn't start worrying about where the brokers are going to earn their bread!

Believe me, I don't lose any sleep over it

[4xis2ez]

Question for Pittsburg FX,
Does Refco/FXCM run stops? Last year I was on the end of a losing trade with FXCM as the price of eur/usd spiked up about 27 pips for a few seconds, causing my losing trade. I called FXCM and they said the price traded at that spike up for 5 seconds and multiple trades were executed. They then told me the price on their dealstation is the price they are willing to deal at so I had no recourse. Can you shed light on this please? Thank you, Russell.

[Tekunda]

Originally posted by MickMason


.....that's not trading in my opinion.

Mick

Strange that if you loose money scalping or trading the way you said, taking advantage of spikes nobody at the market makers side seems to bother. How come?
Shouldn't they tell you, when you were on the wrong side of the spike, eh we refund you your money, since the price never existed?
Mick, I really have tears in my eyes when I read about the market makers being ripped off, how sad for people who themselves run stops and behave like thieves.
In my opinion, you should be able to trade your money any way you want. Strange that scalping seems only to be an issue with Forex.
In a German, very reputable trading magzine was recently a feature of a world famous trader, who decribes himself as an so called order book scalper, executing thousands of what you would call stealing scalping trades a day, making millions.
This guy is regarded as the "God of scalpers", people look up to him like you would look up for a saint and he surely is not on manual execution.
As I mentioned before, it is about time (and I am sure it will not take more than 2 years) that this market will have to abide by some strict rules.
For now it looks to me that the bigger thieves (market makers) cry because there are a few smart traders out there, who have specialized in a niche , who have tremendous skills and do NOT steal, making money that otherwise would disappear in the pockets of the market makers. If we already have to worry that the market makers are at the verge of bankruptcy?

[Agisthos]

This whole issue reminds me of casino's.
They so very much want you to gamble with them, but when someone came along with card counting and a way to actually win money, they are the first ones to cry cheats, unfair e.t.c and change the rules so this can no longer be done anymore.

[Agisthos]

Originally posted by PittsburghFX
If you think you found a really quick EASY way of making trades, then your broker will shut you down. I saw a guy made six figures in 15 seconds, the true market prices never ever traded there. Trade was revoked because what is too good to be true, always is.

So even if traders get an official fill they can still have the trade revoked?

If the dealer quotes prices then they should have to stick to them, regardless if the market never traded there. Thats their fault.