Pita talks a big game, but when it comes to ECN's even a podunk retail punter like me knows he's talking out of his ass. If not so let him come up with just one fact to prove me false.
I believe he was referring to market makers when he made that comment. Which if you think about it, it's true. And IB is not a market maker.
no, he was claiming that even an ECN would screw you and you wouldn't know how they did it until you started trading big size.
ecn screwed me when trading peanuts - 0.5M. Maybe I was in their screw-him books. But if they prohibit you to enter tobe big winners, you cant win. Was entering on breaks. Changed my style to limit, so this is no longer an issue. pita why did you switch back from fx futures ?
Are you talking 20 - 60M with leverage? Yeah it's obvious your typical retail broker isn't gonig to fulfill this. They basically just want to rip off the $2k to $25k account holders. Pro money would not go through retail forex brokers.
with everyone out there getting screwed, does anyone have any time left to actually trade anything....? who gives a damn about a few ticks. all the players need to make a few nickels on the way thru and all get to feed at the same trough. paranoid schizophrenia abounds in this area. when you get to be size you still get to win if your direction is right. scalpers will continue to get scalped. you pay to play. deal with it or get a real job. cheers, s
what the heck are you calling size? Anything less than 5 million is still a retail podunk punter. Sounds like an apple and oranges argument between ECN and MM. I still want to hear somebody tell me how the ECN can screw me. Will the mm screw you? heck yes, you should have known that going in. Ask for a prospectus if you ever want to invest in an mm and they will tell you that up front.
An ECN can screw you in the following way: let say they post the best asking price for EUR/USD at 1.2700 - 1 MM size. The posted price could be a lie as the best price they could be getting from their liquidity providers at that time is actually 1.26997 - 1 MM size. However, instead of posting the best price of 1.26997, they post 1.2700, thus making a 0.3 pip profit from you if you take the offer.