SOES bandits Investopedia http://www.investopedia.com/terms/s/soesbandits.asp A slang term for traders who make rapid buy and sell orders, using the SOES system, in order to make a profit from small price changes. Since the SOES executes orders of 1000 shares or less immediately, an SOES bandit has a greater chance of profiting since the bid-ask spread is tight and prices are extremely accurate.
What is the SOES? investopedia http://www.investopedia.com/terms/s/soes.asp A computer network that automatically executes trades in Nasdaq market securities and some Nasdaq SmallCap securities. This allows individual investors to execute trades in fast moving markets. SOES is for individual traders with orders less than or equal to 1000 shares.
SOES is outdated to say the least..... http://www.investopedia.com/terms/s/supermontage.asp A fully integrated order entry and execution system used by Nasdaq for all securities' transactions. The SuperMontage system has replaced the SuperSoes and SOES systems as it is more accurate and efficient.
CME/Reuters will be what supermontage is to the naz...bye bye fragmentation and for some ...bye bye opportunity
james, z-forex.com is not the one that determines if scalping is allowed or not. They are not the broker. They are the IB. MIG investments decides this. Nowhere on MIG's site is the word "scalping" mentioned. If you want to scalp with a fixed-spread broker, go ahead. When you start trading size, they're going to ride you all the way to the finish line.
Just to expand on danger's comments: fixed pip broker = bucketshop = dealing desk that is out to get you = changing rules until they finally take the squirrel's nut. Only the craftiest squirrels can beat that game.
Hey, what happened. When I checked this thread this morning, there was a reply from z-forex.com (a MIG Investments IB). I guess it was deleted by the moderator. z-forex.com claims on their website that scalping is allowed, yet MIG does not say this at all on their website. z-forex also said on this post that to trade with MIG a trader has to follow their trading requirements. How meaningful! So do they or don't they accept scalping on their MT4 platform? Will they or will they not (in writing) admit that they won't put a trader on manual mode and let him trade freely instead. Wishful thinking. I know a bunch of guys that will tear their retail feed apart if they are left on auto execution.
Think twice .. no, better more then twice if you want to choose Mig Investments. The situation was following. The order was AUDUSD at 0.7595. The chart showed that price twice hit this level, however nothing happened. At other platform high was at 0.7593 and 0.7594. So the difference is only one pip. And this is what they answered to me: "We have checked your tickets # 265218 and # 265227. For #265218 the high on the bid was 0.7590 at 2006.10.20:50 and this why your order has not been executed. It has been executed at 2006.10.07:05 time on witch the price reach your order. For the same raison your #265227 has also not been executed. This came from the wrong price that could be given by our market watch, witch happened with your trade, therefore the chart dose not reflect 100% the market price. It is an indicator to help the client in putting his strategy and to help him in taking the trading decision. Your order has been executed once the market reached your price without been a wrong price and this was at the time indicated on your journal. " Just listen to them "therefore the chart dose not reflect 100% the market price". Interesting, right? One more thing .. they never correct their charts. So do not look at the history .. it is all inccorect!!!!!!!!!!!!!!