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Best broker for 4-7pips scalping

  • #41
  • Sep 19, 2019 6:09pm Sep 19, 2019 6:09pm
Quoting heispark
{quote} Pls don't get me wrong and I am no offense to you but that's something even Goldman Sachs cannot do. Either Goldman Sachs should buy your system or hire you......
No offence taken but there is a difference. I run $10K accounts per EA and run around 20 charts per account. I also have no restrictions on draw down which can run to about 20% which is something not allowed on major accounts.
If you asked me to run a $100,000,000 equity account this way, I would be out of a job in my first week.
Here’s an example of one of my accounts. It runs a aggressive EA that started last year. Within 6 months I was up 400% but lost 250% during the strong EUR/ AUD pullbacks recently in May - July. Now it’s recovering and back up 230% in less than a year. I actually redesigned it during July to Take a few losses quicker and lists it’s looking good now.
I can show you it’s projections if you wish.

The bottom line is each pair / chart only makes 15% per year but using the same equity to trade all 20 charts at once increases my profits by 20 times.
Of course get your strategy wrong and your account won’t survive. To protect me from losses, the idea is you run 5-7 EA’s in different accounts to ensure 3-4 accounts produce nice profits every year.

If you ask me whether the account I mentioned will do 300% this year, probably not. I will be happy with 100% return.
Trading thin liquidity at the boundary of the charts
  • #42
  • Sep 19, 2019 6:44pm Sep 19, 2019 6:44pm
Quoting RickM
{quote} No offence taken but there is a difference. I run $10K accounts per EA and run around 20 charts per account. I also have no restrictions on draw down which can run to about 20% which is something not allowed on major accounts. If you asked me to run a $100,000,000 equity account this way, I would be out of a job in my first week. Here’s an example of one of my accounts. It runs a aggressive EA that started last year. Within 6 months I was up 400% but lost 250% during the strong EUR/ AUD pullbacks recently in May - July. Now it’s recovering...
It still sounds surreal to me but as long as it works to you, that's pretty cool.
Hope I see you in Bloomberg or CNBC sooner or later.....
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #43
  • Sep 21, 2019 2:45am Sep 21, 2019 2:45am
Quoting Mikael666
I am trading EUR / USD about Standard . Indeed, sometimes it’s unpleasant to realize that your dealing center is not interested in you constantly winning. But this does not prevent me from being a regular customer of Fiatotrade . In practice, I never noticed that the company intentionally collected my stops. If I notice that I will switch to ECN, the performance is worse there, but no one will merge, at least until you reach millions in profits. Slippage of 5-7 points is a common thing, especially on news or strong movements. If the system allows,...
If you trade in Fiatotrade , I advise you to pay attention to ECN accounts. On it, I really have statistics have changed for the better. Not to say that before there were many requotes, no, they did not bother. But the slide often infuriated, ate part of the profit, or vice versa added a minus. There are settings here, so I minimized such moments.
  • #45
  • Dec 14, 2019 9:18am Dec 14, 2019 9:18am
Quoting RickM
{quote} Yes, IC markets is the best broker for scalping. I trade many 10-15 pip trades but have been known to trade 2-3 pip trades as well.
2-3 pip trades? That's impressive! Do you use a manual stop loss then (rather than an order)?
  • #46
  • Edited 10:20pm Dec 14, 2019 9:47pm | Edited 10:20pm
Quoting ChilledT
{quote} 2-3 pip trades? That's impressive! Do you use a manual stop loss then (rather than an order)?
I always hedge when the move goes against me by about 5 pips on M1. This gives me a second chance to close the position in profit.
I like to look for reversal spikes at the end of a grind but if we know it’s moving with pressure, why not trade with this momentum. I use a technique NIH8 uses where we just look to trade every few minutes, hedge some and come back to them later that session or the next day. He did take it to extremes by having 40 plus hedged trades on his books at any one time which required him to take additional trades to clear them out at a later time.
Can anyone tell me why we shouldn’t look to take multiple small trades, all with small take profit targets and capitalise on every movement that’s aimed at a Liquidity zone.
Any good move like on last nights EURNZD is at least worth 40-60 trades - All short duration Sell Trades with short take profit targets.
Trading thin liquidity at the boundary of the charts
  • #47
  • Dec 15, 2019 3:27pm Dec 15, 2019 3:27pm
Quoting RickM
{quote} I always hedge when the move goes against me by about 5 pips on M1. This gives me a second chance to close the position in profit. I like to look for reversal spikes at the end of a grind but if we know it’s moving with pressure, why not trade with this momentum. I use a technique NIH8 uses where we just look to trade every few minutes, hedge some and come back to them later that session or the next day. He did take it to extremes by having 40 plus hedged trades on his books at any one time which required him to take additional trades to...
That's an amazing way to trade! Hats off to you for maintaining concentration for so many trades.
  • #48
  • Dec 16, 2019 9:00pm Dec 16, 2019 9:00pm
hello, I am using IC markets to scalp 3-5 pips every trade, so far this broker works very well. my strategy requires lowest possible spread and commission, IC does a good on spread, but commission is just so so. i'm trying to open a new account with a new IB for 20% commission pay back.
  • #49
  • Dec 17, 2019 2:33am Dec 17, 2019 2:33am
Quoting chenxee
hello, I am using IC markets to scalp 3-5 pips every trade, so far this broker works very well. my strategy requires lowest possible spread and commission, IC does a good on spread, but commission is just so so. i'm trying to open a new account with a new IB for 20% commission pay back.
That's interesting... let us know how you get on.
  • #50
  • May 20, 2020 7:45am May 20, 2020 7:45am
for scalping traders will need an ecn account type with the lowest spread of that broker. In ICMarkets and FPMarkets I see spread of 1-3 pips for the main pairs. and they provide additional Fix API and there is a fee
  • #51
  • Last Post: May 21, 2020 8:32pm May 21, 2020 8:32pm
Quoting kavanto
for scalping traders will need an ecn account type with the lowest spread of that broker. In ICMarkets and FPMarkets I see spread of 1-3 pips for the main pairs. and they provide additional Fix API and there is a fee
Actually the lowest size spread helps but it’s not important, it’s about your skill and experience that enables profitability. I am in a forex trading competition at present where I have to use a certain broker to trade the comp account. I was trading GBPNZD last night and been caught with spreads of 4 pips in, 4 pips out but still doing very well.
Trading thin liquidity at the boundary of the charts
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