Are there drawbacks to working with such a liquid market?

[cabletrader]

Quote from Diesis:

<noob>
So, if I insist ( ) on trading spots, the first thing to look for, is a broker that isn't a MM ?
How do I know this ?
For example, Ducascopy states on his website that they are not MM, but how do I found out if this is true ? Is there a list of MM or something like this ?
</noob>

I'll save you some time, roughly how much money are you planning on investing in your new venture into the markets?

 

[fluttrader]

Quote from cabletrader:

It's not really relevant who I use, suffice to say it's a fixed spread retail marketmaker, most of the mainstream marketmakers operate a similar business model along the lines of a bookmaker. Nothing wrong with that.

It's not really relevant who you use ?

Based on all what has been posted so far ,it is of UTMOST importance choosing a more or less "honest" market maker in the shady forex world (maybe you try to be funny )

here are some options ; Oanda,MB and Hotspot

Instead of defending the MM's , why don't you come up with some options ?

 

[fluttrader]

Quote from cabletrader:

It's no big deal, contrary to the misguided conspiracy theorists among us he doesn't move prices just so he can collect your few bucks

no big deal ?


Look, I had a stop order with my forex broker, suddenly my broker's price started to move differently from the 3rd party chart provider in the direction of my stop.
I had heard about stop running , I took away my stop and price came back in line with my 3rd party chart provider.
No, I have not recorded this but when I have some extra time, I will open an account with a bucketshop and record it so you can see with your own eyes what individual pricing is

A few bucks ? LMAO , much more to gain than just the spread

 

[cabletrader]

Quote from fluttrader:

It's not really relevant who you use ?

Based on all what has been posted so far ,it is of UTMOST importance choosing a more or less "honest" market maker in the shady forex world (maybe you try to be funny )

here are some options ; Oanda,MB and Hotspot

Instead of defending the MM's , why don't you come up with some options ?

I'm not defending anyone really, I'm more dispelling the conspiracy theory, if retail forex marketmakers were dishonest thieving bucketshops (and some are!) I would have no hesitation in saying so.

There isn't a one-size-fits-all, it depends on things like equity, trading times, and trading style.

I posted it somewhere before, from what I've seen the average new trader starts off trading (semi scalping) intraday with a 30/35 pip stop and a sub $2-3k account so pretty much the only choice is Oanda unfortunately. Not perfect but not so bad, flexible trade sizing to allow for acceptable money management, they pay interest on account balances, simple and easy to navigate platform with versatile orders, it's an ideal choice for a beginner because they can start off small and trade without overleveraging, and when the inevitable happens they won't have lost a fortune.

I don't usually like endorsing any particular broker because there's always some fool shouting 'shill' when they can't think of anything else to say

 

[fluttrader]

Cabletrader,



If you don't want to come over like a shill, just name a few options not just one (like I did)

Here an example of a guy who got all his profits removed (I know a guy who has the same experience with another bucketshop)

http://forexfactory.com/showthread.php?t=50202

like I said take the money from the majority of losing traders and screw the winning traders, that's the business model of most, not all forex "brokers"

 

[cabletrader]

Quote from fluttrader:



A few bucks ? LMAO , much more to gain than just the spread

Well of course a lot more to gain, it's said that 90% of retail traders lose money! Do you really think a bookmaker hedges all his punters bets? Now I'm LMAO so we're not going to have an ass between us if we carry on like this

 

[cabletrader]

Quote from fluttrader:

Cabletrader,



If you don't want to come over like a shill, just name a few options not just one (like I did)

Here an example of a guy who got all his profits removed (I know a guy who has the same experience with another bucketshop)

http://forexfactory.com/showthread.php?t=50202

like I said take the money from the majority of losing traders and screw the winning traders, that's the business model of most, not all forex "brokers"

lol, oh come on, 'fxopen', lol. Haven't these people heard of due diligence!

What options would you like me to come up with? Give me some specifics and I'll see if I can come up with a few suggestions but bear in mind I haven't traded with that many marketmakers!

 

[fluttrader]

Quote from cabletrader:

Well of course a lot more to gain, it's said that 90% of retail traders lose money! Do you really think a bookmaker hedges all his punters bets? Now I'm LMAO so we're not going to have an ass between us if we carry on like this

most forex bookies don't hedge the trades from the winning traders and then you arrive to situations like posted in the above example.

(men don't needs asses, women do)

 

[Diesis]

Quote from cabletrader:

I'll save you some time, roughly how much money are you planning on investing in your new venture into the markets?

Before everything, I will simulate for more that a year.
After I'll start from scratch with a unreputable account of 10Keuros.
If I'll be profitable, within another year or two, I plan to transfer a margin of more or less 100keuros.
I can't see the possibility of making a "have to live with" profit with less than this capital.

 

[RedDuke]

All this talk opens an old question.

We all agree that trading spot fx introduces additional risk to trading since there is no central exchange and the broker has full control. Whether the broker is using these additional ways to generate “extra income” is a different question, but it is undeniable that these risks are there for retail forex traders.

Now, you do not have any of these risks with CME futures, so the question is: Why would you want to trade spot fx and expose yourself to potential additional risk? Trading is hard and dangerous enough to begin with, why make it harder on yourself???????

Regards,
redduke