fxsol vs oanda

[illiquid]

Quote from ElectricSavant:

YPerhaps, it is a wasteful way to trade...

Michael B.

It's just the typical fx broker's way of getting you to put on extra executions and paying them the spread.

What's exploited here is the weakness all traders fight against, and that's positional bias. Having a "hedged" setup, for the mere purpose of making us feel better to have "pretended" to lock in 10, 20, 100 pips in whichever direction the market happens to move, is giving into our worst instincts.

Reminds me of Attain boot camp when they taught you to just average down to cut your distance to even in half. Fun stuff lol.

 

[illiquid]

Quote from late apex:

If we can't even agree on that fundamental distinction, then, sorry, but there's not much point in continuing this dialogue.

Get this into your thick skulls people: you do not need the initial hedge, it serves no purpose but a crutch for you to somehow never "take a loss". Remove those two initial trades and you can still execute exactly the same "system" to your heart's content. If you are hedged, you are flat, pure and simple. Stops to enter are the same as stops to exit, you can try to talk your way around this all you like, your position remains the same, it's just a matter of bookkeeping, end of story.

 

[siki13]

Quote from illiquid:

Get this into your thick skulls people: you do not need the initial hedge, it serves no purpose but a crutch for you to somehow never "take a loss". Remove those two initial trades and you can still execute exactly the same "system" to your heart's content. If you are hedged, you are flat, pure and simple. Stops to enter are the same as stops to exit, you can try to talk your way around this all you like, your position remains the same, it's just a matter of bookkeeping, end of story.

Let it go ,if they dont get it by now they never will .

 

[illiquid]

Quote from siki13:

Let it go ,if they dont get it by now they never will .

It's not so much trying to convince the people I'm replying to, but just a precaution to those readers who've ever had this sort of "reasoning" spewed at them: where ever this stuff comes from, they can't be trusted.

 

[late apex]

Quote from illiquid:

It's not so much trying to convince the people I'm replying to, but just a precaution to those readers who've ever had this sort of "reasoning" spewed at them: where ever this stuff comes from, they can't be trusted.

Yes, of course, it's all about protecting those poor, innocent, impresssionable, vulnerable readers. A word of warning to you all:

By all means, trust the advice of someone whose attitude is: "If I don't understand something, it must be a bunch of crap."

Under no circumstances, listen to a word from someone like me, whose attitude has always been: "If it ain't broken, how can I break it? To earn even more profits, with less risk."

Right.

 

[gowron8]

If by IB you're refering to Interactive Brokers, you are wrong. They are not a bucket shop. They offer trading through an ECN...the exact opposite of a bucket shop.

Quote from xxDavidxsxx:

Heys guys,
I just found this thread and its very interesting.

buckets
1.FXCM
2.IB
3.CMC
4.Gaincapital,forex.com


I am testing SOL this week but they have very poor charting.

Also testing interbank groupe(different than interbankfx)

see my thread for more info and test results.

http://www.forexfactory.com/forexforum/forumdisplay.php?f=49
Journal Factory @ Forex Factory

Also on the hedging note. I am teaching some hedging techniques there also.

Hedging is best used when the market is ranged, you know a big move is at hand. Just not sure wich way because signals are mixed.
Place an order in the middle of the range, hedge it, and place s/l's either side of the range. When the loosing trade stopd out the winner goes on to profits. Determined by fibo's, weekly,daily trend lines, and pivots. Also good around news if you are really brave.

I hope this helped some one.

O'yea hi electric



Dave

edit: currently I am live on FXCM(eeww) 1 year of trading exp.
In 6 months of testing demos I am leaning heavily to CMS. For the charting, hedging, 400:1 leverage and you can trade mini and standard lots off the same account.

 

[Africatrader]

very interesting thread. i have been with fxcm, but left with the tornado. not the platform to discuss brokers, but they are the worst i ever dealed with. sorry that's my experience.

i m with fxsol now? cos I trade the news far better with hedging. if a very important, market moving news such as the NFP or so is expected, 10 to 15 minutes prior to news release I will hedge with 10 pips s/l on either side. but before hand I will normally have a feel of the market, by analysis past data and listening to the sentiment prior to the event. it is IMPOSSIBLE to close the losing position cos the market than moves to fast. my loss in such case is limited to 10 pips only and the gain on the other side is much bigger if you can catch the move till end.

otherwise I do not hedge. fxsolm though has given some sleepness nights, cos of the way they seem to have your trades running, though you know you have no trades on. In some instances after, closing all my positions I have to contact them for confirmation that I do not have any active trades on. I even have this recorded. One day I woke up and discovered I am in a 85 pip gain with the usd/jpn. I immediately closed it and cntacted them. they were sorry that something like that has happaned? the problem is it happened thrice! how is hotspotfx? any comments?

 

[Africatrader]

very interesting thread. i have been with fxcm, but left with the tornado. not the platform to discuss brokers, but they are the worst i ever dealed with. sorry that's my experience.

i m with fxsol now? cos I trade the news far better with hedging. if a very important, market moving news such as the NFP or so is expected, 10 to 15 minutes prior to news release I will hedge with 10 pips s/l on either side. but before hand I will normally have a feel of the market, by analysis past data and listening to the sentiment prior to the event. it is IMPOSSIBLE to close the losing position cos the market than moves too fast. my loss in such case is limited to 10 pips only and the gain on the other side is much bigger if you can catch the move till end.

otherwise I do not hedge. fxsol though has given me some sleepness nights, cos of the way they seem to have your trades running, though you know you have no trades on. In some instances after, closing all my positions I have to contact them for confirmation that I do not have any active trades on. I even have this recorded. One day I woke up and discovered I am in a 85 pip gain with the usd/jpn. I immediately closed it and contacted them. they were sorry that something like that has happaned? the problem is it happened thrice! how is hotspotfx? any comments?

 

[Maverick74]

Quote from illiquid:


Why is it only forex people fall for this crap? Does the EUR/USD and USD/EUR somehow make people think they are trading 2 different markets? For all your creative unconventionality, you seem to lack a hefty dose of common sense

The reason they fall for it is because the average FX trader has an IQ about 50 pts lower then traders of any other product. You will notice these guys are not the brightest of the bunch. If these people had the ability to set up an excel spreadsheet they would see that the numbers are exactly the same whether they hedge or not. I think they get a hard on telling people they trade volatility in FX even though they don't know what it is.

They could do the same thing just by putting in bids and offers and fading moves. The EUR moves down, their bids get hit, start offering out now. EUR moves up, your offers get lifted. Start putting your bids in. Exact same P&L with their so called "grid" trading.

 

[Africatrader]

Quote from Maverick74:

The reason they fall for it is because the average FX trader has an IQ about 50 pts lower then traders of any other product. You will notice these guys are not the brightest of the bunch. If these people had the ability to set up an excel spreadsheet they would see that the numbers are exactly the same whether they hedge or not. I think they get a hard on telling people they trade volatility in FX even though they don't know what it is.

They could do the same thing just by putting in bids and offers and fading moves. The EUR moves down, their bids get hit, start offering out now. EUR moves up, your offers get lifted. Start putting your bids in. Exact same P&L with their so called "grid" trading.

Hi Maverick
I really had a good laugh, now. did you see my thread " trading is for dumb people" well not quite, but one would say you have read it. any way nice knowing you.