Discussion in 'Forex Brokers' started by xxDavidxsxx, Jun 26, 2006.
Does any one currently scalp with FXDD. 5-10 pip trades.
Ok nobody so far? I didn't see anything on scalping in the forms I signed. I'm not talking 2-3 pips, but 5-10. I guess I'll try it and see if I get warned. Most of the trades will probly be 5 pips. At least thats the way its been working out.
I tried my system on MG and GFT but they slow price and filter small moves. And volitity lag like you wouldn't belive.
I also have live account with interbank group WWC as there clearing firm. They move live within 1 pip of fxdd's demo. I need 5k to deposite into ibgwwc account befor I can trade it. There holding it open while I build up to it on a mini. They have been very gracious.
I have a system down and have been looking for a broker that I can use it with who's trade environment don't change when it goes live.
ez method...price retest the high or low of the NY session shows signs of weekness, macD,stoch,rsi looking weak. then antisipate a failer and enter trade placing s/l 5-10 pips other side of support/resistance. Close and reverse position on a breakout. S/L is there for a safty net. You don't need to let it get hit. Price breaks and will always pull back below for a few sec to min's to re-establish support point befor taking off. Thats when you get out and reverse when the new high is broke.
The thing is price your analising has to be true to the market. GFT/MG/FXCM will filter the initial break and once the price pulls back and breaks for the take off then they allow the price to go with it, jumping 5-8 pips all of a sudden so you cann't read that early entry. And volitity keeps giving you requotes. Looking at multiple platforms and price feeds can get confusing because MA's are slightly different depending on allowed price movement.
You end up getting in in the middle or at the top of a wave 3 , it soon tops, pulls back for wave 4, wave 5 doesn't make it much past 3, and a greater a,b,c correction takes you 10-20 or more pips negitive and consilidates for a time. Thats fine if your trading long or mid term but for what I want to accomplish won't work. The initial 5-10pip move is lost and I'm left scratching my head. Works on demo's all day long.
I'll let you know how it goes.
Why don't go with currency futures or
IB's ideal pro ?
If fxdd bans me or something then IB it will have to be. I just need more than 50:1 leverage because of starting account size.
I just found a broker that openly invites scalpers, and any other trade style. No desk and stp orders. 1-2 pip spreads.
heres link for those interested. I am gonna check out the demo. You get free e-signal charting.
I am sticking with fxdd for now though.
EFXgroup is just an IB for MB Trading's forex platform.
Is MB any good? they speak of half pip spreads and welcome scalpers.
so whats the catch? I'll be trying to find out.
Ok did the search on MB. And like the reviews. I never liked IB because of low leverage. At least MB gives 100:1.
Is fxdd an ECN or MM? Any one know?