its not trading if the banks fill you. they arnt into taking risk, and if they notice that dealing with orders coming from one broker is turning out to be risky. they are going to do something about it. its more of a liquidity providing service from the bank's side, which they make a cut on. and they have the option to refuse service. please correct me if im talking out of my ass.
When a bank gets an exporter hedging his invoice and is setting on his order.... can thay have an agenda?
nah. banks only have one agenda, to make money. from what i understand they do so by offering artificial liquidity which is actually just orders the assume they will get in the future, or already have waiting for a fill. most of the time in normal market conditions the bank can match your order against other opposite orders coming in. i think if you consistently get them to accept orders which they cannot hedge against, ie the market always moves away from your fill right away, (unlike an exporter randomly sending orders) they wont be very happy. depending on market conditions (news events etc) i think they might fill you without matching or force you to wait.
Didn't a bunch of Banks not do very good in 2005? Could a retail trader (s) put a dent in this?...and what is this 1.9 trillion a day bullcrap anyways?
possibly. thats a bit sad. i could have written them a system that is 100% guaranteed not to cause them to lose money. of course. it might not always perform as quickly as systems which assume they can hedge quickly in the future. im not sure if retail traders can put a dent in it. from what iv heard, banks cant and wont deal with tape racers.
well walterjennings... Thank you for humoring me...It is an honor to just being able to engage you in conversation...someday I can sort all of this out.. I just try to keep my dealer happy at the moment... Michael B.
Bitstream, we don't want to deal with trading two pairs at the same time. The scalps are occurring when the market is moving extremely fast, so there's not that much time to do many things. fxsomebody works for Currenex and asked me not to disclose his personal information. Currenex does not advertise much and mainly relies on white label providers such as ODL, Man, and the likes to do most of the selling. From what fxsomebody said, they are planning on changing the way they do things in the near future and are rolling out a lot of new things. He even mentioned adding charting to the platform. He also said that he read one of my posts with our order processing requirements and sent the requirements to their designers for possibly including them in future upgrades. He sounded like a very knowledgeable guy. He talked about a lot of things and I got a little oversaturated with information. He mentioned that 80% of the executions on Currenex are customer-to-customer transactions and the rest are customer-to-banks, where the banks are the ones the particular Currenex broker you are using has a relationship with. He said that what I fear (getting kicked out by a broker because the banks they work with are not pleased with our trading) rarely happens. He also explained a lot of things about HotSpotFxi and Lava that I did not know. Let's see what happens going forward. I will test this Currenex thing to the max and post my experiences (good or bad) here.
Thank you and do not discount some the contributions to this thread...just some advice... electric---out.
There is so much rubbish on this thread. And I am afraid that currenex (which is a platform I like) do warn people off who trade in fast markets. I would also point out that is you use their API you have to sign a disclaimer that says you wont use to it arb. I don't so doesn't matter to me but it tends to indicate they dont like scalpers.