Spikes are frequent especially with any NZD pair.
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DislikedSlippage and erroneous quotes aren't 'failures', they're perfectly normal unavoidable occurrences.Ignored
DislikedYes, calmly accepting slippage from your broker. That sounds like a highly profitable trading strategy.Ignored
DislikedAnyways, even if we lived in a dream world where bucketshops never slipped orders in order to earn another pip or so on a spread, or they slipped orders in your favor as much as they do against you, there is still the issue of liquidity.
The fact is, some brokers have better liquidity than others, and slippage is a symptom of that....Ignored
DislikedAs for slippage and erroneous quotes, I don't think pipmutt was talking about purposeful slippage (which I'm sure he agrees is bad)Ignored
DislikedMove to a broker with level 2 then?
As for slippage and erroneous quotes, I don't think pipmutt was talking about purposeful slippage (which I'm sure he agrees is bad), but that slippage and erroneous quotes are a part of the market. They are a part of every market. They happen on the equities exchanges, you can see a $3 trade on a $30 stock. They send out same-day (usually) erroneous trade rulings where the trades are struck down. Mistakes happen, it's just the way it is.Ignored
Disliked"Non purposeful" slippage is an execution risk caused by a combination of poor execution, poor liquidity, and high volatility and frequently occurs during a news event. By the time a market order gets to your bucketshop or other marketmaker.....Ignored
DislikedNow, I certainly do not believe that all brokers and bucketshops - every single one - do not have risk management systems which do not take advantage of purposeful slippage. Others can happily imagine this, that they are all working in our best interest, but I find that not only ludicrous but probably stupid on the part of the bucketshop. Well armed scalpers can make mincemeat of a bucketshop, especially during news.Ignored
DislikedWhich ones should you watch out for? Bucketshops which have low spreads during news. Those are the ones that are probably kidding you. Oanda at least is honest and upfront about its risk management, it just widens the spread instead of slipping you.....Ignored
DislikedIf the NFA could create more transparency around this, I think it would be in everyones favor....I want the NFA to force the bucketshops to tell us how they are executing our ordersIgnored
QuoteDislikedWhen it comes to most mainstream reputable brokers that's not only incorrect it's probably not a very healthy opinion to have when it comes to trading as it can lead to a feeling of conflict and ultimately revenge trading if you suspect your broker is stiffing you.
QuoteDislikedThe ones to actually watch out for are the ones who accept your market order, lock the ticket, and literally fill you where and when they want. You can't cancel the unfilled market order and you don't get the option of accepting/declining a requote, you just get filled wherever the broker decides and that could be minutes later and at the extreme of a spike.
QuoteDislikedthat may simply be their business model and the way they execute orders.
DislikedPipmutt, you've merely repeated back everything I've already said on this thread.
I can't argue with you, because you're just saying the same thing I am.Ignored