oraclewizard77 Moderator Registered: Jan 2006 Posts: 1898 09-15-11 06:54 AM If you have that much money to trade, I would suggest currency futures. The benefits. Real volume. Real charts based on actual market feed not broker based charts. Issue with data feed from brokers is that one data feed may show you got stopped out from one broker while another may show that stop was never hit. You pay a small fee for each futures trade but that is actually cheaper than the spread you pay for pure Forex. For example, lets assume you trade the GBP/USD. You pull up a chart by the broker and it always shows a spread of around 3 pips. If you are making even $ 100 per 10 pips, you are always losing $ 30. For futures, for the most part there is 1 tick difference between the bid and the ask. The brokers do trade against their client orders, I think FXCM just got fined for this and misleading advertising. Now some slight differences, futures market do close but if you have enough margin you can hold overnight.
mcgene4xpro, FXCM uses NDD forex execution and therefore does not trade against clients. Not all forex brokers operate the same way, so it's important to check whether they use dealing desk or no dealing desk (NDD) execution. With FXCM every order is offset one for one, and our compensation is a pip mark-up added to the spread. We've put together a video that walks you through how NDD forex execution offsets trades compared to dealing desk execution where the broker can trade against you http://www.fxcm.com/fxcm-forex-execution.jsp . Let me know if you have any questions. Jason
Hi, First, it is not my claim.. I copied an pasted here. However, the original OP might refer to this "In August 2011, NFA fines FXCM $2 million for slippage malpractices. FXCM reached settlements with the NFA and CFTC over the practices of $2 million and $6 million respectively, relating to not passing along positive slippage (i.e. order fills better than what order rules specified) to customers on certain order types prior to August 2010. In conjunction with these settlements, FXCM provided clients with restitution for the total amount of positive slippage, approximately $8 million.[10]" Wikipedia Or, he might refers to this on your website.. http://ir.fxcm.com/phoenix.zhtml?c=238885&p=irol-newsArticle&ID=1612849&highlight= However, i do not want to start argument here in this thread.. As you see. it is only for me and it is just copying and pasting what i think might be important for me. If you want to argue, you can argue the original poster. All contacts were mentioned in the post. Thanks McGene
Please, Whoever has any argumental point with any of my posts, he or she can go and post his/her opinion directly to the original poster.. Here is just a copy and paste business and ONLY FOR ME. I do not direct any to agree or disagree.. I hope i am clear. Thanks McGene
tritom Registered: Jun 2011 Posts: 1 03-24-12 04:47 PM i would disregard anything MT4, for many reasons, the single-threaded transaction model being the most compromising thing. why go for anything proprietary? i would concentrate on FIX API, supported by most Currenex brokers, a big number of retail spot brokers like MBTrading or Integral-based IBs, LMAX exchange etc etc. http://fixprotocol.org/what-is-fix.shtml
garachen Registered: Dec 2007 Posts: 69 I started out as pure Algo. Probably went 1.5 years without manually touching anything. But then I started to notice patterns that I couldn't easily code against. And I started trading some size in illiquid markets where I could push other manual traders into panic. Now, Algo trading accounts for about 25% of profits. Much of that occurs in 5-10 seconds scattered throughout the day. There are some seconds where I will make 200 distinct trades. You just pray you're handling context switching, garbage collection and journaling to disk in some efficient manner and nothing breaks down. I have not met an algo trader who looks at charts. I'm sure they probably exist. The main chart lookers are point and click spreaders. Guys trying to trade the bond basis or Eurodollars through a spreader. Come to think of it - most of the ED guys I know look at spread matrices and not charts either.
http://www.youtube.com/watch?v=cWUGLqvj6IU http://code.google.com/p/disruptor/ http://quantlabs.net/membership.htm