Is it a fair business ?

[PittsburghFX]

Originally posted by Tekunda


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.

I know how to avoid manual since I have lived it already. But I simply will not say anything. I am not teasing, but this will not be discussed.

[PittsburghFX]

Originally posted by jasperforex


It would be nice but they don't have any early access. Trading news can be easy but I guess you have to be shown how to do it. You don't just sit down 1 minute before it, and hope for the best. Ok that's fine with straddling or options but not if you plan to do a normal fx trade on the news. There are certain things you need to know like expectations and positioning as well as sentiment, general and specific. All of this helps you decide what is required to spark a tradable move.

That is unless you know people at different banks with Interbank platforms on their options desk!

[PittsburghFX]

Originally posted by Agisthos


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.

Well here is the thing with FX. The market maker is your volume. SO if the price is filled, but Interbank market never traded there for them to offset with, then you may be revoked because it is a bad trade and a freebie that the market maker loses on. If you make 1 million off of a bad tick, then they directly lose because they could not have offsetted.

If you feel that you have ever had a bad fill of somesort, then you there isn't too much you can do. You have to have trust to a degree. Other than taking it to the legal department, which I do not reccomend ever, but then shop around brokers and see who is the best for you.

If you truly read the FINE PRINT ON ALL BROKERS APP'S they have the authority to do this and make adjustments on your account. They can't touch your money, but regarding trades and stops, limits, MC's, everything, its in their favor. THIS IS WITH ALL BROKERS. Its the fact of doing business in the financial services today. If a broker acts up then they will not be in business long, thats the cleansing of the market.

[foroz]

The sad thing about the written agreements we enter into with brokers, PittsburghFx, is that if you read them thoroughly they frighten you to death with what is contained therein.

However, I'd encourage everyone to read their documents before signing them.

Have you ever known a client who could negotiate a variation on the "standard agreement"?


Regards

[Agisthos]

Of course, the fine print. How naive of me to presume the obvious of deal quoted prices.

So Pittsburgh, can you prehaps just give us a tiny inkling of how it can be beaten. I understand you are under pain of death, being an ex insider....
Just point us in the right direction

[PittsburghFX]

Originally posted by Agisthos
Of course, the fine print. How naive of me to presume the obvious of deal quoted prices.

So Pittsburgh, can you prehaps just give us a tiny inkling of how it can be beaten. I understand you are under pain of death, being an ex insider....
Just point us in the right direction

Dude,
You can't ever beat the fine print. I am simply talking about a method of short term trading that market makers do not see on their radar. Its like trading with a F117-A Stealth.

[PittsburghFX]

Originally posted by foroz
The sad thing about the written agreements we enter into with brokers, PittsburghFx, is that if you read them thoroughly they frighten you to death with what is contained therein.

However, I'd encourage everyone to read their documents before signing them.

Have you ever known a client who could negotiate a variation on the "standard agreement"?


Regards

We had about 50,000 clients at the time, and there were only about 5 people we had to pull the fine print out on. They had over 50 million a piece ion their account. Not leverage, but a real liquid cash of 50 million.

When you trade, its something that you kinda have to say ok and just hope for the best. Its unfortunate, but these days are so sue happy, what can you do.

[bobnat]

Pittsburgh,

Thanks for sharing your experiences and knowledge.

There have been a number of discussions on the net as to what constitutes scalping and there isn't really a general consensus. I think we all can agree that straddling the news is something that the brokers don't like and are doing there best to discourage.

Is scalping defined primarily by time? Or is it a combination of time with certain events? Perhaps it seems to be an obvious question, but I'm interested in your take on it.

If I get in with 10 lots and pick off 15 pips in 2 minutes is that what you call "picking"?

Thanks,

Nat