IB or Oanda or ????

[jimrockford]

Oddtrader,

the post of mine, which you quoted, and which suggests a possible strategy for trading against some FX brokers, has a mistake in it. The second and much larger entry should be in the same direction as the first very small entry, but I erroneously stated that it should be in the opposite direction.

Please also note that the strategy I suggested can only work against certain types of individualized pricing, but cannot work against shading. Individualized pricing is manipulation based on the customer's position, while shading is manipulation based on the broker's position.


Please also note that the strategy I suggested can, at its very best, only prevent loss resulting from the broker's individualize pricing. It cannot, by itself, generate a profit. If you used this strategy, you would still need something more, in order to generate a profit.

P.S. Thanks for the compliment.

 

[TriPack]

Quote from late apex:

And yes, I am intimately familiar with the "long thread" you're referring to. That thread is actually misnamed: it has very little to do with individualized "price shading" and everything to do with differences between Oanda's price feed and others' price feeds. Let's at least get our terms right if we are to have an intelligent discussion.

The statement you'd made earlier, to which I replied, was specifically about "price shading based on your positions." To prove the existence of such a practice at Oanda, all one would need to do is post a screen shot of 2 dealing windows from 2 Oanda accounts side by side, showing different bid or ask in at least 1 currency pair. Everything else is just talk. Should be a piece of cake, right?

Ok we are mixing terms. I didn't notice you were talking about individual price shading, and not overall net position price shading, which that thread talks about. I agree that Oanda doesn't do individual price shading, but does net position price shading. Also, Oanda does do individualized slippage based on the trading style of the particular account, which is not overtly obvious unless you start trading the same system on a new account, and compare it to how it is filling on an old account that has traded that system for some time.

 

[TriPack]

Thanks for your reply late apex.

I'm curious how long you've been with Oanda and what type of strategy you use? Do you enter with limits or market orders and do you trade during volatile times. The reason I ask is that I would love to have zero slippage too so maybe you've found a way to achieve this?

How are you measuring slippage? I compare actual fills vs. system fills at the instant the order is sent.

Quote from late apex:

TriPack:

Comparing feeds: thanks for the advice, but my business is built on monitoring and trading multiple feeds.

Slippage: I experience zero slippage with my strategies while trading size with Oanda.

Your 2nd link: please see my previous reply.

Your 1st link: yes, I've already noticed that thread a couple of days ago, shortly after it was started. May I quote from the thread starter's very first post?

"On average, I lose about half of the spread (~0.9 pips) on such slippage. As I said before that's not too bad. But that alone is already a little bigger than my average profit per trade. So I'm hoping someone could explain if this involves price manipulation. If Oanda can improve in this area, I would really be thrilled. Or any comments on use this slippage more to my advantage?"

LOL. So, this guy admits from the get-go that his average profit per trade is, what, "a little" less than 0.9 pip? Way to go, loser, excuse me, William Piplover. I'm afraid he is living in his own fantasy world. Not to mention that he obviously hasn't done his most basic homework about how the trading platform actually works, as explained to him further down by others. Why doesn't he go and practice his mental masturbation, err, scalping "craft" on GLOBEX, instead of continuing to voluntarily subject himself to being abused and taken advantage of by those big bad racketeering evildoers at Oanda?

NFP issues: not doubting at all that you and others had connectivity problems yesterday. I've experienced my share of them, too, but not this time. Just got lucky, I guess.

late apex

_______________
Don't believe everything you think.

 

[TriPack]

I just saw this on moneytec - feedback on another ECN style broker - doesn't look so good at coesfx:

i use coesfx

the slippage is the worst i've seen. i'm getting ready to exit their platform. i do not scalp btw. i would like to know your systems those of you that are profitable. i would be willing to test coes live with a lot or two if you'd like to see the results.
spread is 2-4 pips on the eur with a $20 round trip fee per lot. so essentially the spread is 4-6 pips.
js

 

[OddTrader]

Quote from jimrockford:


P.S. Thanks for the compliment.

I guess you must be a very experinced FX trader therefore you know so much about many brokers for their platform problems after trading with them one after another for many years.

 

[jimrockford]

Quote from OddTrader:

I guess you must be a very experinced FX trader therefore you know so much about many brokers for their platform problems after trading with them one after another for many years.

No. As a matter of fact, I have never traded with a bucketshop. I did my homework, and this persuaded me to just say "No", before I ever lost a dime to a bucketshop. I trade thru IB, but I never traded FX, not even thru IB.

 

[OddTrader]

Quote from jimrockford:

No. As a matter of fact, I have never traded with a bucketshop. I did my homework, and this persuaded me to just say "No", before I ever lost a dime to a bucketshop. I trade thru IB, but I never traded FX, not even thru IB.

Apparently you love IB very much, as 25% of your total posts mentioning IB.

 

[jimrockford]

Quote from OddTrader:

Apparently you love IB very much, as 25% of your total posts mentioning IB.

Wrong again, Oddtrader.

I doubt your figures. I certainly don't love IB. I believe it is in my own best interests, as a trader, to help reward honest brokers, like IB, by praising them, and to punish dishonest brokers, by revealing their true nature. I also think that I am doing a public service by helping to protect people from frauds, swindlers, and their own gambling fever. I also feel outrage at what I see in the FX industry.

 

[phoenix555]

so jimrockford, will u be trading FX through IB anytime soon? if so, pls let us know about ur experiences.

 

[jimrockford]

no plans.