To TGM Author performed more as 10000 operations with real time paper simulator . It was not the case that with forex/oanda,mgforex/ author have made 100% per month .Loss only. .. with future/es,ert/ more as 300% per day multiple time with options on stock more as 30 time per month Ground is complex ,not only author is worst by fx spot , different dynamic of spot and future markets ,but broker is MM and in case of IB only 1% of the market /statement of IB/ reflected by book /can be secondary market/ Specific great operator tactic 50-70 pips before and after news against most retail operators SL /against crowd expectation/ would force small operator not to use great margin . All togehter make FX spot more dissadvantaged for small operator as future,stock and options on future's and stocks .
The inside market is tradeable, however you are limited to a per order size restriction. For USD base its $5m, other maximum order sizes are listed here: http://www.interactivebrokers.com/en/trading/exchanges/usIB-pro.php?ib_entity=llc - If you see $15m, on the inside then there's nothing to stop you sending 3x $5m orders in at the same time.
Steve, just asking, if its ldn or ny session and i hit the mkt with 10 x $25m orders on a multi-dealer platform (not saying i can do that size, just picking yr...mkt knowledge), am i likely to move the mkt much? (i wld think not but...) on currenex one 'cld' hit a 100m button (now whether u get filled or not...), same on hotspotfxi and the non-filled qty is automatically moved over to the bid/offer area. just being v.candid here, why wld you guys not allow people to click on any size they want?
I have not looked at currenex for a while. Can you move 100million? On hotspot---I do not recall that kind of size? They must be really picking up volume if you can easily do 100mill. I know on Hotspot last I remember you could do about 20mill easily. I have to check them out again. They must be really growing. Hotspot is supposed to be coming out on TT and I was waiting for that.
Steve, thanks for the info... good to see per-trade limits finally posted for IDEALPro. And raised from the previous (hidden) 1.5M limit. However, disappointing to see them still a fraction of displayed inside bid / ask size, most of the time. Particularly for cable, normally quoted up to 9M - 16M per side. Personally, I can't imagine a trader willing to break up their order into multiple, smaller parts, for no good reason, compared to the displayed size. More work... more error-prone... harder to transmit simultaneously... different fills likely (I already get different fills frequently, with identical, entered in advance, Stop Limit orders in 2 accounts)... more screen real estate taken, per account / per currency pair... more trades to manage, both while they're open and at the end of the day. It doesn't help that forex positions are yet to be displayed in TWS and that the statements don't show P&L for individual trades. Just doesn't seem like a good plan for IB to become the market leader in this segment, too, and attract any but the smaller forex traders, to get them to switch from other platforms (with substantially higher per-trade limits in most cases) and stay. Wouldn't you agree?
In my experience, most funds or individuals trading size do tend to split large orders up and work them. I understand if you wish to do $10m itâs a touch harder, however, 2x$5m orders could easily be done with 2 clicks of the mouse on Booktrader. Nevertheless, the main reason for imposing these limits is to restrict the chances of clearing out the book. The current maximum limit is set at around the minimum you could expect to see at the inside quote. If someone posted a market order for a huge size they could end-up sweeping hundreds of resting limit orders which are way out of range. These trades would then need to be busted, and could further course numerous headaches such as false liquidations, conditional orders triggered etc, etc. These limits will naturally be reassessed as demand and liquidity grow. 2cents.. I donât know, never tried it. However, I imagine in this situation you would see market-makers back-away considerably.
Steve or anyone else at IB, In general regard to holidays, like the one in a few days. Is there any special hours for IdealPro? I cant find anything on your website. Is there a holiday hours on your website somewhere?