Choosing a Broker?

[IluvVol]

...idiot, bucketshops will fill you straight up to 10million? Ludicrous. They disconnect you or force rfq if you trade even 500k or 1million in and out just a little to frequently. You must be joking.

If I knew you ever traded something north of 1million I would call you a liar!!!

Quote from cabletrader:

Oh no, not another one who's lost money trading, hey it's not my fault, I haven't got your money, the broker probably has! lol, 30-odd trading blotters and apparently I don't trade, right, it's not too hard to see where you went wrong




Sure, 90% of their clients give their money away quite willingly yet bucketshops still shift quotes to trigger stops leaving themselves open to all sorts of arbitrage opportunists. Right, I see, of course they do. Really, you're just having a bit of fun with that right, you don't honestly believe it do you? Or maybe you do! By the way, ECN's can also "take you out of your position any time they want and refuse to fill you anytime they want" as well as bust trades later, it's all part of the game. Come on be serious, how can you possibly expect to profit from a market which you don't understand?



lol, well they don't play nice! Who needs the real market (and I'm talking about the real market, not IB, IB aren't a pure agency, they have their own problems). Partial fills, slippage of 100's of pips and volatile quotes across data and other thin markets as well as spreads out the wazoo, problems getting filled....I much prefer the instant fills up to 10 million per ticket and smoothed pricing which the bucketshops offer, not to mention the interest they pay and the fact that trades can be opened and/or managed over the weekend. I realize it's hard but try to accept responsibility for the losses you sustained, from reading your post in all probability it wasn't your broker to blame.

There's an interesting article here which compares the pros and cons of ECN vs bucketshop, or if you're really paranoid then it's simple, just trade futures.

lol, thanks for cheering up my Monday morning traderNik

 

[cabletrader]

Quote from IluvVol:
...it still does not ocur to you that you seem to be the only idiot pushing bucket shops, LOL!!! Those who chose them dont know better, have too small an account to meet minimum account sizes with other brokers, want to trade helplessly over leveraged, or cannot even afford to trade a full lot. If one of those criteria are met then I recommend not trading at all, simple as that. But you seem to be the head-bucket-shop marketer here. I could not care less about your stubid ramblings if it was not for the newbies. Shame on you.

I've tried numerous times to explain it to you but you still seem unable to understand the insignificance of account size. It's not about how much equity you have in your account or whether you can afford to trade in full lots, it's about risk, reward, win, lose, ratios, and percentages. With the no-minimum requirements and trade size flexibility offered by bucketshops such as Oanda there's absolutely no need for anyone to overleverage, none. It's a really simple concept and the essence of trading, I'm surprised you're having so much difficulty understanding it, seriously. I traded with IB a few years ago when FX Trader was first released but I couldn't get along with it or them as a broker so I went back to Oanda and CMC (another bucketshop) where I'm more than happy most of the time. It's personal preference, I don't understand why you're having such a hard time with that. Even IB are not without their own problems.

Quote from IluvVol:
...idiot, bucketshops will fill you straight up to 10million? Ludicrous. They disconnect you or force rfq if you trade even 500k or 1million in and out just a little to frequently. You must be joking.

If I knew you ever traded something north of 1million I would call you a liar!!!

Well I can't say I've ever had an order filled for 10 million as I don't have funds available to support that sort of size but I have had 3 million to close a series of trades filled instantly without any problems. If you have a look at the average times between opening and closing trades on the blotters I've posted you will see literally hundreds of what people call 'scalping' trades and I've never had any problems.

The difference here is I speak from personal experience of executing literally thousands of trades with Oanda whereas you're basing your opinions on conjecture, in fact there's no evidence to suggest you actually trade this or any other market, it all seems to be theoretical with you, a kind of back seat driver with little or no actual practical experience.

Bottom line is I'm happy where I am, no real complaints, and anyone considering trading with Oanda can simply have a scan through my blotters to see that they're not the evil stop-hunting thieves that those without any practical experience of trading with them try to make out. At the end of the day it's up to the individual where they trade, after all it's their money!

Relax IluvVol, try not to take everything so personally, it's not a good personality trait if you ever expect to become a successful trader!

Enjoy your day, the sun is shining here in UK (for a change!) so I'm going to enjoy mine

 

[IluvVol]

this guy twists facts and the truth better than the devil, really second to none. I just urge everyone to not listen to this guy because he clearly DOES NOT KNOW what he is talking about. Not interested in fighting with this guy, just warn the newbies here!!! Go with an ECN based broker if you want to trade spot fx or you will truely regret!!!

Quote from cabletrader:

I've tried numerous times to explain it to you but you still seem unable to understand the insignificance of account size. It's not about how much equity you have in your account or whether you can afford to trade in full lots, it's about risk, reward, win, lose, ratios, and percentages. With the no-minimum requirements and trade size flexibility offered by bucketshops such as Oanda there's absolutely no need for anyone to overleverage, none. It's a really simple concept and the essence of trading, I'm surprised you're having so much difficulty understanding it, seriously. I traded with IB a few years ago when FX Trader was first released but I couldn't get along with it or them as a broker so I went back to Oanda and CMC (another bucketshop) where I'm more than happy most of the time. It's personal preference, I don't understand why you're having such a hard time with that. Even IB are not without their own problems.




Well I can't say I've ever had an order filled for 10 million as I don't have funds available to support that sort of size but I have had 3 million to close a series of trades filled instantly without any problems. If you have a look at the average times between opening and closing trades on the blotters I've posted you will see literally hundreds of what people call 'scalping' trades and I've never had any problems.

The difference here is I speak from personal experience of executing literally thousands of trades with Oanda whereas you're basing your opinions on conjecture, in fact there's no evidence to suggest you actually trade this or any other market, it all seems to be theoretical with you, a kind of back seat driver with little or no actual practical experience.

Bottom line is I'm happy where I am, no real complaints, and anyone considering trading with Oanda can simply have a scan through my blotters to see that they're not the evil stop-hunting thieves that those without any practical experience of trading with them try to make out. At the end of the day it's up to the individual where they trade, after all it's their money!

Relax IluvVol, try not to take everything so personally, it's not a good personality trait if you ever expect to become a successful trader!

Enjoy your day, the sun is shining here in UK (for a change!) so I'm going to enjoy mine

 

[cabletrader]

Quote from IluvVol:

this guy twists facts and the truth better than the devil, really second to none. I just urge everyone to not listen to this guy because he clearly DOES NOT KNOW what he is talking about. Not interested in fighting with this guy, just warn the newbies here!!! Go with an ECN based broker if you want to trade spot fx or you will truely regret!!!

I'm sure the 'newbies' will appreciate your concern and be forever in your debt. Strange as it may seem people generally make up their own mind about what to do with their money but I'm sure your input will help in their decision making process, they will evaluate the information and consider it's source.

It's just a shame you never got round to posting something tangible to suggest you're anything more than a back seat driver but never mind, maybe you were too busy

That it then, are we done?


Just a reminder for anyone interested, there is quite a well balanced article about the ECN vs bucketshop debate from a seemingly experienced person here, I think it's worth a read. At the end of the day you must trade where you feel comfortable and where you can apply sensible risk and money management, don't listen to either of us, weigh up the pros and cons and trade with a company which is right for you, your trading style, and of course your available equity, it's not a one-size-fits-all business.

 

[IluvVol]

very fair comment, I laude you on that one Cabletrader

Quote from cabletrader:

I'm sure the 'newbies' will appreciate your concern and be forever in your debt. Strange as it may seem people generally make up their own mind about what to do with their money but I'm sure your input will help in their decision making process, they will evaluate the information and consider it's source.

It's just a shame you never got round to posting something tangible to suggest you're anything more than a back seat driver but never mind, maybe you were too busy

That it then, are we done?


Just a reminder for anyone interested, there is quite a well balanced article about the ECN vs bucketshop debate from a seemingly experienced person here, I think it's worth a read. At the end of the day you must trade where you feel comfortable and where you can apply sensible risk and money management, don't listen to either of us, weigh up the pros and cons and trade with a company which is right for you, your trading style, and of course your available equity, it's not a one-size-fits-all business.

 

[cabletrader]

Quote from IluvVol:

very fair comment, I laude you on that one Cabletrader

Careful, that nearly sounded like a compliment

Seriously though, I think these debates can be useful, we're obviously both passionate about our own views and this debate hasn't deteriorated into a slanging match or been plagued with hecklers!

Good trading to you IluvVol!

 

[chipmunk]

yeah he's a demo trader then comes on here tellnig everyone how much he makes, etc...jack ass!


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I've seen a few of cabletrader's posts over the past few months. Most of them indicate that he doesn't actually trade. The one you're referencing takes the cake, though.

 

[chipmunk]

yes ok but who? Seems every broker has bad reviews...
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Go with an ECN based broker if you want to trade spot fx or you will truely regret!!!