Is there any broker who is happy, even if you consistently win?

[lamode]

I believe what you're saying it's just I've never experienced rejected orders or the kind of spreads you've seen, in fact I was wondering what happens when an order is rejected, do they requote or just out-and-out reject it?

I have seen it clearly on my screen, it does happen, but perhaps it doesn't bother you.

On the "Activity" tab and the "Type" field, it will says "Order Cancel (BV)" and the order has been cancelled due to bounds violation.

So lets back to the title of this thread: Is there any broker who is happy, even if you consistently win?

My answer stay ENC such as mbtrading, hotspotfx or interactive brokers.

[MickMason]

Originally Posted by lamode

bounds violation.

That's probably why I haven't seen any yet, I don't set bounds.

So lets back to the title of this thread: Is there any broker who is happy, even if you consistently win?

My answer stay ENC such as mbtrading, hotspotfx or interactive brokers.

It's obviously your choice and if you feel more comfortable using an ECN (Electronic Communication Network) style broker then fine, some of us are quite happy where we are though as there really isn't much difference as far as quotes, spreads, fills, and liquidity goes.

Cheers


Mick

[DW]

Originally Posted by MickMason

Ah, ACM, I can't think of a more deserving target to get shafted!

I think the key for you will be moderation, $7k in 30 mins is going to be like waving a red flag and you will be closed down because it's their money you're scalping. Try to avoid the temptation to make as much money as quickly as you can, intersperse your scalping with regular trades if you can, blending in will reduce the chances of detection.

You're not the first to exploit latency and I don't doubt there are those who make a good living from it, the long-termers I expect have mastered the art of appearing innocuous

From an ethical point of view though it's unethical, there are unwritten rules that professional traders and brokers adhere to in order for us all to make money, there are endless tricks that brokers and traders can play but it's better for us all to play 'fair', that way we all make money and everyone's happy. Personally I prefer my broker did protect himself and close down these types of traders because it means they'll stay in business (nothing personal you understand!)

Good luck with it all the same

Cheers


Mick

Mick, thanks again for the insite. Yes, after some of the responses I've had hear in this forum I can clearly see the issue at hand. I'm an ethical person and I know that I will not be able to do this, I've accepted that fact. Sadly enough. I'll go back to searching for 10 and 20 pip moves using my regular day trading method and maybe accidentally use this once in a while on a quick reversal. Looking to work myself out of my "real" job and do this for a living as this is what I truly love to do. The regular method will take longer giving the limited time I can spend in front of the screen due to job and family committments. It's hard to walk away from though....you find a killer, easy way to make lots and lots of money only to be informed that you can't do it. I'm a little sad lol. Perhaps you can assist in honing my regular trading methods. I've appreciated your responses. Thanks once again. DW

[MickMason]

Originally Posted by DW

Mick, thanks again for the insite. Yes, after some of the responses I've had hear in this forum I can clearly see the issue at hand. I'm an ethical person and I know that I will not be able to do this, I've accepted that fact. Sadly enough. I'll go back to searching for 10 and 20 pip moves using my regular day trading method and maybe accidentally use this once in a while on a quick reversal. Looking to work myself out of my "real" job and do this for a living as this is what I truly love to do. The regular method will take longer giving the limited time I can spend in front of the screen due to job and family committments. It's hard to walk away from though....you find a killer, easy way to make lots and lots of money only to be informed that you can't do it. I'm a little sad lol. Perhaps you can assist in honing my regular trading methods. I've appreciated your responses. Thanks once again. DW

I feel guilty now! Seriously, I'm sure your scalping won't break the marketmaker's bank. Try it out, really, even if it's just to satisfy your own curiosity, or even if you do it just long enough to put together a good stake to trade 'normally', at least that way you're playing with winnings.

To be truthful I'm not so honest that I wouldn't take advantage of a marketmaker if the opportunity came along now and then

[shabbir64]

My 2 cent is if you are really making money and transferring 80% of it than what's your problem. Maybe your fear is what if the broker goes bust... or starts putting in false trades in your account to level off your profits... that should be a cause of real concern.

Go with a broker whose is regulated. Since Forex trading is classified as an OTC product, your funds are placed in a non-segregated account, the return of which is really not guaranteed. Safety and security of your funds and profits is a primary concern. Check out some brokers in Singapore as MAS (Monetary Authority of Singapore) requires all brokers to place clients funds in segregated accounts and when Refco went bust Singapore account holders were returned their money I believe.

Hope this helps.

Cheers

[RebateFX]

Originally Posted by lamode

So lets back to the title of this thread: Is there any broker who is happy, even if you consistently win?

My answer stay ENC such as mbtrading, hotspotfx or interactive brokers.

Yes, there are brokers out there who are happy if you win. ECN is not the answer if you have a small account since the commissions can kill your account fast. However, if you have enough money to be able to negotiate a better deal with the ECN, it's ok.

Bottom line is, if you trade within the confines of the legal agreement you agreed to when you open your account, there is nothing a broker can do to deny you your profits. Basically, read the agreement carefully. If there is something there that you don't like, just change to a broker that you can agree with.