Anyone use multiple brokers for the same trades?

Discussion in 'Forex' started by tschmidt1234, Mar 7, 2008.

  1. I've been doing paper trading for a while now and have figured out a scalping method where I don't fire off many trades but get at least 9-10 pips every 24 hours.

    I realize that scalping becomes a pretty untenable practice when you are trading more than 100k at a time, so I was just wondering: Do any other scalpers on here remedy this problem by using multiple brokers and executing the same trades with all of them simultaneously?

    It would probably be difficult, but when you hold a position for a max of 15-20 minutes, trying to trade 1 mil of currency can lead to big time slippage with any broker.

  2. MTE


    15-20 min holding time is not scalping, strictly speaking.

    Anyhow, on paper everyone does great, but everyone is also having a hard time translating that profitability into real trading. Besides, spot FX dealers will "shut down" your scalping operation pretty quickly coz they don't like it. If you want a fair market then go to futures!
  3. Not really, in the scheme of things 15-20 minutes is probably average for intraday traders :)

    1m isn't going to be a problem for a marketmaker (depending on when and how you trade of course)

    Try it, what's the worst that can happen, a few requotes? It's a lot easier than trying to execute 10 trades on 10 different platforms on 2 or 3 different pairs, what a nightmare!
  4. Have you ever paper traded? If so, why were you not able to replicate your success in the real thing?