Discussion in 'Forex Brokers' started by nealvan, Apr 10, 2008.
Does GFT allow scalping and what's the difference between scalping and daytrading? Thanks
The difference is that in scalping you look to stay in a trade from few seconds to a few minutes with high leverage scalpers look to capture just a few pips (1-10 pips) at a time, Day traders stay in the trade from about few minutes to few hours to capture a bigger move (10-50+ pips)with less leverage then what a scalper uses.
Also with the charts that are used generally scalpers use the Tick and 1min chart and day traders use 5min and the 15min and higher.
Im not sure about GFT haven't look at them.
Thanks Nex... Does anyone know if GTF allows this? I looked all over their website and couldn't find any information on it. I hate talking to people on the phone..
I don't think they openly object but this is what I experienced when I traded there. Bear in mind that was over a year ago, things may have changed.
Last i checked, years ago, the guy on the phone said anything less than about twenty minutes was considered scalping. Or was it 40 minutes?
Either way, they dont like it.
At that point in time, you would definitely be put on manual execution, but only a 'tard" would be trading news and such like. Not that i was.
I love dealbook, and make no bones about it, (for a purist chartist) but yeah, last i checked, longer term stuff fantastic, (eod basically) on forex, great.
Dealbook is possibly the best, free charting platform out their, but come on, be REALIISTIC with your customers, sure, stateside folk will be screwed regardless, without the funky international cfd option, which seems to be verbotten to even mention here, what im saying, is i love dealbook, not so sure about GFT.
Mega hard sell, last i checked, sorry, short term trading at all is NOT ALLOWED AT ALL.
Hey, im just saying, DYODD, is all.
My first account with was GFT. I soon found myself at a different broker.
They would put my orders into la la land, I would not be able to cancel them or have any idea what was happening to them. Then a few minutes later, only after a move had been established, my trade would go through and of course I would be down about 10-15 pips. And this wasn't news trading either.
If you're a scalper, don't use this broker.
little overwhelmed but thanks for the advice everyone..
Just a note.. This just happened to me with gft..
trading gft's dealbook I've loaded chart back and forth and when I go back to a pattern I was watching I see different candle formations as if the price has changed loading a different symbol into the 15 minute chart set up I'm using. Has anyone had this happen with gtf or am I seeing things? I swear this have been happing quite frequently after loading a chart into my set-up and I'm pretty good at recognizing patterns.. Of course I can't prove this but it seemed to happen about a dozen times today..
I never really used GFT charts apart from trialling their Foresight AI but have you tried refreshing the chart, you may have been looking at old data.
shouldn't it be streaming data? I'm looking at live charts. I can see the price fluctuating. I loaded a different pair and went back to the orginal pair I was watching just seconds ago and the pattern of the last 2 candles was different. I know because that's primarily what I watch.
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