Oddtrader, the post of mine, which you quoted, and which suggests a possible strategy for trading against some FX brokers, has a mistake in it. The second and much larger entry should be in the same direction as the first very small entry, but I erroneously stated that it should be in the opposite direction. Please also note that the strategy I suggested can only work against certain types of individualized pricing, but cannot work against shading. Individualized pricing is manipulation based on the customer's position, while shading is manipulation based on the broker's position. Please also note that the strategy I suggested can, at its very best, only prevent loss resulting from the broker's individualize pricing. It cannot, by itself, generate a profit. If you used this strategy, you would still need something more, in order to generate a profit. P.S. Thanks for the compliment.
Ok we are mixing terms. I didn't notice you were talking about individual price shading, and not overall net position price shading, which that thread talks about. I agree that Oanda doesn't do individual price shading, but does net position price shading. Also, Oanda does do individualized slippage based on the trading style of the particular account, which is not overtly obvious unless you start trading the same system on a new account, and compare it to how it is filling on an old account that has traded that system for some time.
Thanks for your reply late apex. I'm curious how long you've been with Oanda and what type of strategy you use? Do you enter with limits or market orders and do you trade during volatile times. The reason I ask is that I would love to have zero slippage too so maybe you've found a way to achieve this? How are you measuring slippage? I compare actual fills vs. system fills at the instant the order is sent.
I guess you must be a very experinced FX trader therefore you know so much about many brokers for their platform problems after trading with them one after another for many years.
No. As a matter of fact, I have never traded with a bucketshop. I did my homework, and this persuaded me to just say "No", before I ever lost a dime to a bucketshop. I trade thru IB, but I never traded FX, not even thru IB.
Wrong again, Oddtrader. I doubt your figures. I certainly don't love IB. I believe it is in my own best interests, as a trader, to help reward honest brokers, like IB, by praising them, and to punish dishonest brokers, by revealing their true nature. I also think that I am doing a public service by helping to protect people from frauds, swindlers, and their own gambling fever. I also feel outrage at what I see in the FX industry.
so jimrockford, will u be trading FX through IB anytime soon? if so, pls let us know about ur experiences.