Just a simple answer please
- Thread starter joe4422
- Start date
Well, if Mirus took the other side of my trades for the last 5 days, they would have lost money.
As far as I can tell, the futures charts show actual data unlike forex brokers who make up their own data and take the other side of your trades and use spikes that appear on their charts to claim that you were stopped out.
Of course you still need an edge, money management, and the right psychology to be successful. Even I could have done much better last week, but glad I was profitable.
As far as I can tell, the futures charts show actual data unlike forex brokers who make up their own data and take the other side of your trades and use spikes that appear on their charts to claim that you were stopped out.
Of course you still need an edge, money management, and the right psychology to be successful. Even I could have done much better last week, but glad I was profitable.
i'm surprised oraclewizard77 that as a moderator you'd be making such statements
mind you, perhaps i'm giving moderators, or some moderators too much credence:
"the futures charts show actual data unlike forex brokers who make up their own data
and take the other side of your trades and use spikes that appear on their charts to
claim that you were stopped out."
'unlike forex brokers who make up their own data' what a load of nonsense; do you
really think they have someone - many, hundreds of people typing in quotes 24 hours
a day so they can rig price data ?
Oanda my broker, Alpari's MT4 demo and can put up NinjaTrader/Zen-Fire 6E and see
virtually NO difference between the charts. 'virtually': Oanda's the only fx broker i know
of providing 5, 10, 30 sec charts and at those lower timeframes there can be some
difference between them and the 6E due to occasional higher volume into Oanda
sorry your trading system is so unreliable that you have to use Stops
to the op: "Please, I would just like an answer from them" then ask them not us
IBs, Introducing Brokers, AMP, Mirus, Infinity, etc do not hold client funds
IBs as the term implies are salespeople for FCMs, as well as managing the day to
day relationship with the client
the FCM is the Futures Commission Merchant who in addition to holding the client
funds employs those who execute trades in the exchange trading pit or in the case
of Globex has the software and servers that manages client trades to/from Globex via
the charting/order entry software provided by the IB
ask your FCM not your IB
mind you, perhaps i'm giving moderators, or some moderators too much credence:
"the futures charts show actual data unlike forex brokers who make up their own data
and take the other side of your trades and use spikes that appear on their charts to
claim that you were stopped out."
'unlike forex brokers who make up their own data' what a load of nonsense; do you
really think they have someone - many, hundreds of people typing in quotes 24 hours
a day so they can rig price data ?
Oanda my broker, Alpari's MT4 demo and can put up NinjaTrader/Zen-Fire 6E and see
virtually NO difference between the charts. 'virtually': Oanda's the only fx broker i know
of providing 5, 10, 30 sec charts and at those lower timeframes there can be some
difference between them and the 6E due to occasional higher volume into Oanda
sorry your trading system is so unreliable that you have to use Stops
to the op: "Please, I would just like an answer from them" then ask them not us
IBs, Introducing Brokers, AMP, Mirus, Infinity, etc do not hold client funds
IBs as the term implies are salespeople for FCMs, as well as managing the day to
day relationship with the client
the FCM is the Futures Commission Merchant who in addition to holding the client
funds employs those who execute trades in the exchange trading pit or in the case
of Globex has the software and servers that manages client trades to/from Globex via
the charting/order entry software provided by the IB
ask your FCM not your IB
Joe,
I have read some of your previous posts, and I will go out on a limb and label you a "genuine" guy. I think I know what you are getting at, and your fears may be justified, however, allow me and my humble experience offer something that you may consider useful.
To label any of the above mentioned IB's as sharks and taking the other side of your trades, let me propose the following scenarios:
In a very liquid contract, such as the ES for example, they would be insane to hunt down your meager order, because they know that a whale can step in at any time and render their trade null and void. I can assure you that they take losses as badly as you do. My advice to you would be to devlop, or implement your current system to fire during high volume periods of the trading day. In case you do not know when that is, it is @9:30 to 11:00 AM EST. This is not a hard and fast rule, and only screen time and experience can tell you when the day will continue or reverse a major trend. However, there is no denying that that that hour and a half, for the most part, is where the move (and the money) is made.
Thin issues offer the opportunity for players from all over the globe to hunt you down, not just a nefarious broker, even in higher volume contracts during periods of low volume. It is also possible that there are times when "someone" who has access to your orders has the opportunity to take the other side of your trade, especially in illiquid contracts or during periods of low volume, so it is your duty to as a retail trader to avoid situations where others may take advantage of you. The truth is I really do not know with certanity if this takes place or not with the above mentioned brokers , I simply won't give anyone the chance, do you catch my drift?
FTR, I use AMP and am very happy.
I have read some of your previous posts, and I will go out on a limb and label you a "genuine" guy. I think I know what you are getting at, and your fears may be justified, however, allow me and my humble experience offer something that you may consider useful.
To label any of the above mentioned IB's as sharks and taking the other side of your trades, let me propose the following scenarios:
In a very liquid contract, such as the ES for example, they would be insane to hunt down your meager order, because they know that a whale can step in at any time and render their trade null and void. I can assure you that they take losses as badly as you do. My advice to you would be to devlop, or implement your current system to fire during high volume periods of the trading day. In case you do not know when that is, it is @9:30 to 11:00 AM EST. This is not a hard and fast rule, and only screen time and experience can tell you when the day will continue or reverse a major trend. However, there is no denying that that that hour and a half, for the most part, is where the move (and the money) is made.
Thin issues offer the opportunity for players from all over the globe to hunt you down, not just a nefarious broker, even in higher volume contracts during periods of low volume. It is also possible that there are times when "someone" who has access to your orders has the opportunity to take the other side of your trade, especially in illiquid contracts or during periods of low volume, so it is your duty to as a retail trader to avoid situations where others may take advantage of you. The truth is I really do not know with certanity if this takes place or not with the above mentioned brokers , I simply won't give anyone the chance, do you catch my drift?
FTR, I use AMP and am very happy.
Goldman Sach, the largest FCM, openly stated that they screw their own customers. So, as FCM with all the order information on their books, why would they not take the other side of your trade, especially if you were on the wrong side of the trade?
http://dealbook.blogs.nytimes.com/2010/01/12/goldman-executive-discloses-conflicts-policy/
FCM Ranking by customer segregated funds (column e) (as of 02/10):
PDF:
http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0210.pdf
Excel:
http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0210-xls.xls
http://dealbook.blogs.nytimes.com/2010/01/12/goldman-executive-discloses-conflicts-policy/
FCM Ranking by customer segregated funds (column e) (as of 02/10):
PDF:
http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0210.pdf
Excel:
http://www.cftc.gov/ucm/groups/public/@financialdataforfcms/documents/file/fcmdata0210-xls.xls
And what point is that?
Please explain how in the Globex electonic market any broker or anyone else can target and take the opposite side of your particular order.
And why do you even care? As long as your order is executed at the current market level what difference does it make who is on the other side?
Why should any broker waste their time on obvious nonsense?
If you can't find a broker you trust, then don't trade.