Quote from toby400:
Could we keep on thread please and discuss forex and MB
OK, I've got a few more comments. Yesterday, during the Bernacke (sp) breakout (60+ pips in about 90 seconds) I entered 2 quite substantial positions in both the euro and the cable. I bought the bottom at 0 pips on the euro and +4 pips already in my favor on the cable. Fills were instant. I exited both positions in full at the peak. Again the fills were instant and at 1 pip each respectively. No server outages, no platform freezes, no wide pip spreads like I saw someone mention in another thread and no BS. BTW, concerning the extra wide spread during big breakouts ... what bullsh!t that is. Isn't that just another form of price shading?! If the spread gets manipulated then it can be manipulated at will. I'd be spooked by that. If anything the Bid/Ask should *invert* during fast markets not widen. Widening the spread screws you out of YOUR money. So? Did I make what ... 5 pips, 7 pips, 10 pips more per lot than you?
Another thing ... concerning the "commish". To those who can't wrap their heads around the concept ... here ya go ... lets take USD/JPY. The spread at MB is 1 pip (sometimes 2 during low volume). So that's either $1 on a mini or $10 on a standard lot. The vig is .50 per side on a mini and $5 per side on a standard lot. Let's do the math ... Hmmmmmm ... comes out to 2 pips. That's the same if not cheaper than the bucket shops. So the buckets build the vig into the spread, trade against you, shade the feed and basically bend you over and that sits well with some of you folks? Personally, even if it came out more I'd still gladly pay for the piece of mind know I'm not getting screwed over.
To the dense folks who keep talking about how cheap such and such is on equity trades ... consider your BIG savings compensation for all the time you have to spend messing with buggy software, front ends, log in problems and various other crap. I don't know about you but my time is money. I also must have confidence in my platform, my feed from MB (WHICH IS FREE for FX, CBOT and CME) and my broker. To date I have confidence in all three.
Also, I have absolutely no interest or association with MB other than being one of their many happy customers. That said, if they ever IPO I'd definitely want a taste because that dog will hunt once everyone else figures out what I already know. If you're happy with your broker and have no problems that is a good thing but if you're not happy there are alternatives to pissing and moaning. As always YMMV (Your mileage My Vary)
