Broker for Scalping!!

[ElectricSavant]

SOES bandits

Investopedia


http://www.investopedia.com/terms/s/soesbandits.asp


A slang term for traders who make rapid buy and sell orders, using the SOES system, in order to make a profit from small price changes.


Since the SOES executes orders of 1000 shares or less immediately, an SOES bandit has a greater chance of profiting since the bid-ask spread is tight and prices are extremely accurate.

 

[ElectricSavant]

What is the SOES?

investopedia

http://www.investopedia.com/terms/s/soes.asp


A computer network that automatically executes trades in Nasdaq market securities and some Nasdaq SmallCap securities. This allows individual investors to execute trades in fast moving markets.


SOES is for individual traders with orders less than or equal to 1000 shares.

 

[ElectricSavant]

SOES is outdated to say the least.....

http://www.investopedia.com/terms/s/supermontage.asp


A fully integrated order entry and execution system used by Nasdaq for all securities' transactions.


The SuperMontage system has replaced the SuperSoes and SOES systems as it is more accurate and efficient.

 

[ElectricSavant]

CME/Reuters will be what supermontage is to the naz...bye bye fragmentation and for some ...bye bye opportunity

 

[toby400]

Quote from danger66:

james, z-forex.com is an introducing broker for MIG Investments in Switzerland. MIG offers "fixed spreads" with no commissions. We all know that "fixed" spreads are exactly that - "fixed." First of all, the last thing someone who truly wants to scalp should do is go with a broker that offers "artificial" spreads.

Second of all, I work with traders that have been kicked out of every US and European broker for scalping. MIG Investments is no different. I have heard pretty bad stories about them too.

Lastly, nowhere on MIG's site do they mention the word "scalping."

The fact remains, if you want to scalp, don't go to a fixed-spread broker.

Toby400, I have been told by an experienced scalper that OANDA does not allow scalping or news trading. I work with a trader that has been kicked out by them already for scalping.

TradeViper, you bring up a good point: what the heck is "scalping."

I would say, "generating quick, small profits," but that brings two subjective terms into the definition: "quick" and "small." What is "quick?" When I look for a scalper, I look for someone that gets in and out of most trades in 0 to 1 minute. What is "small?" I don't really put a limitation on this. Why would I? But in general, scalps are between 1 to 3 pips - even though scalping during news releases can generate substantially more than that.

Just my two-cents worth. Couldn't help myself.

Thanks for taking the time to reply - much appreciated

 

[james_r]

Quote from danger66:

james, z-forex.com is an introducing broker for MIG Investments in Switzerland. MIG offers "fixed spreads" with no commissions. We all know that "fixed" spreads are exactly that - "fixed." First of all, the last thing someone who truly wants to scalp should do is go with a broker that offers "artificial" spreads.

The fact remains, if you want to scalp, don't go to a fixed-spread broker...

Hi danger66,

I draw an arrow where Z-forex mentions scalping

JR

 

[danger66]

james, z-forex.com is not the one that determines if scalping is allowed or not. They are not the broker. They are the IB. MIG investments decides this. Nowhere on MIG's site is the word "scalping" mentioned. If you want to scalp with a fixed-spread broker, go ahead. When you start trading size, they're going to ride you all the way to the finish line.

 

[patrick_newB]

Quote from danger66:

james, z-forex.com is not the one that determines if scalping is allowed or not. They are not the broker. They are the IB. MIG investments decides this. Nowhere on MIG's site is the word "scalping" mentioned. If you want to scalp with a fixed-spread broker, go ahead. When you start trading size, they're going to ride you all the way to the finish line.

Just to expand on danger's comments: fixed pip broker = bucketshop = dealing desk that is out to get you = changing rules until they finally take the squirrel's nut. Only the craftiest squirrels can beat that game.

 

[danger66]

Hey, what happened. When I checked this thread this morning, there was a reply from z-forex.com (a MIG Investments IB). I guess it was deleted by the moderator. z-forex.com claims on their website that scalping is allowed, yet MIG does not say this at all on their website. z-forex also said on this post that to trade with MIG a trader has to follow their trading requirements. How meaningful! So do they or don't they accept scalping on their MT4 platform? Will they or will they not (in writing) admit that they won't put a trader on manual mode and let him trade freely instead. Wishful thinking. I know a bunch of guys that will tear their retail feed apart if they are left on auto execution.

 

[nezinu]

Think twice .. no, better more then twice if you want to choose Mig Investments. The situation was following. The order was AUDUSD at 0.7595. The chart showed that price twice hit this level, however nothing happened. At other platform high was at 0.7593 and 0.7594. So the difference is only one pip. And this is what they answered to me:
"We have checked your tickets # 265218 and # 265227. For #265218 the high on the bid was 0.7590 at 2006.10.20:50 and this why your order has not been executed. It has been executed at 2006.10.07:05 time on witch the price reach your order. For the same raison your #265227 has also not been
executed. This came from the wrong price that could be given by our market
watch, witch happened with your trade, therefore the chart dose not reflect
100% the market price. It is an indicator to help the client in putting his
strategy and to help him in taking the trading decision. Your order has been
executed once the market reached your price without been a wrong price and
this was at the time indicated on your journal. "
Just listen to them "therefore the chart dose not reflect
100% the market price". Interesting, right? One more thing .. they never correct their charts. So do not look at the history .. it is all inccorect!!!!!!!!!!!!!!