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Scalping with Forex.com?

  • #21
  • Oct 2, 2007 7:00am Oct 2, 2007 7:00am
Quoting peterM
so instead of putting the typical spreads, you put the minimum spread. That is very misleading.
It's called marketing 101 in America; but I agree with you.
  • #22
  • Oct 2, 2007 8:19am Oct 2, 2007 8:19am
Quoting peterM
so instead of putting the typical spreads, you put the minimum spread. That is very misleading.
No offense but you guys could just download the platform and find out for yourselves a lot faster than it takes you to criticize something you don't know about.
  • #23
  • Oct 2, 2007 8:48am Oct 2, 2007 8:48am
Quoting peterM
thanks for your reply.. 5 pips is a bit high i guess for cable.. but if there is no slippage its just about acceptable.. for some types of trading... definately not scalping though!

On their website they are currently quoting 2.5 pips for cable and 1 pip for eur/gbp... Am I missing something or is this a deliberate attempt to mislead people ?
They give you a choice of fixed spreads ( which in my experience have been reliable ) or fractional spreads which will vary. The low spread you see advertised is the minimum spread you will get if choose to trade fractional spreads, but it will vary. How much and how often? I don't know because I haven't used their fractional spreads.
  • #24
  • Edited 9:18am Oct 2, 2007 8:57am | Edited 9:18am
Quoting Forex.Com
Hi Billflet,
Our spread on cable is 2.5 and on GBP/JPY is 4.0, as on all crosses, please be gentle with our sales people
I will--it is gentle fun. The 5 and 9 that I quoted was fixed spread and I said so.

2.5 and 4.0 is minimum spread if you choose fractional spread. That is how I stated it. Am I correct?

Hope you found my original post somewhat positive--that was the intent.

BTW, just by you showing up here and fielding a few questions says a lot.
  • #25
  • Oct 5, 2007 7:32am Oct 5, 2007 7:32am
I use forex.com for my daily transaction and so far i don't have much to complaint, BUT I wouldn't recommend using it during important news announcement such as NFP.

You might still lose your money even if you have put a stop order that's right before the news come in. This is because they put your order on hold (perhaps in their queue system) for a quite a few seconds even when the numbers had already flied 40 to 50 pips from your actual order, and when your order got executed, it is possible that the market has already retraced and moved against your previously pips making order. AND they will execute your stop loss order too even though you HAD close your position before, i think its because it already got hit a few second before your position is actually closed in their system.

I think the windows platform is ok, except for the chart, but you can always find a good free replacement for the chart.

R.D
  • #26
  • Oct 5, 2007 8:18am Oct 5, 2007 8:18am
Quoting vsumardi
I use forex.com for my daily transaction and so far i don't have much to complaint, BUT I wouldn't recommend using it during important news announcement such as NFP.

You might still lose your money even if you have put a stop order that's right before the news come in. This is because they put your order on hold (perhaps in their queue system) for a quite a few seconds even when the numbers had already flied 40 to 50 pips from your actual order, and when your order got executed, it is possible that the market has already retraced and moved against your previously pips making order. AND they will execute your stop loss order too even though you HAD close your position before, i think its because it already got hit a few second before your position is actually closed in their system.

I think the windows platform is ok, except for the chart, but you can always find a good free replacement for the chart.

R.D
Not for scalping period.
  • #27
  • Oct 8, 2007 11:09am Oct 8, 2007 11:09am
http://www.sfu.ca/~jjk2/finance.html


yea that was on a demo, its possible to do it on live? probably but are you crazy enough to have AT LEAST 2:1 risk to reward ratio?

IMHO scalping is NOT worth it for small retailers who have only adjusted prices...scalping is more ideal for pit traders or upper scale guys who have direct direct access to market.
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  • #28
  • Oct 8, 2007 11:39am Oct 8, 2007 11:39am
Quoting jjk2
http://www.sfu.ca/~jjk2/finance.html

yea that was on a demo, its possible to do it on live? probably but are you crazy enough to have AT LEAST 2:1 risk to reward ratio?

IMHO scalping is NOT worth it for small retailers who have only adjusted prices...scalping is more ideal for pit traders or upper scale guys who have direct direct access to market.
No; you cannot trade taking 1 pip profits on a continuous basis with Forex.com. It won't work. Furthermore, why would you want to scalp on such high spreads?

I saw your demo reports and backtests. It seems that you're allowing unrealized losses to accumulate with the hope that the position is coming back. Please tell me if I'm wrong.

Our high frequency scalper is in beta and it is written in C++. Works with FIX and will soon be tested on the CAX.

If you have a working scalping system that limits both realized and unrealized losses and can interface it to FIX let me know. We work with an institution who can provide funding.
  • #29
  • Oct 8, 2007 12:41pm Oct 8, 2007 12:41pm
note i no longer practice that method. yes you are right its based on assumption prices will eventualy break through the pending order. i realize the danger of this thats why i no longer practice it.

as for FIX protocol, i dont see the point for normal retailers using it. maybe since ur a big institution it makes sense.

also 1 pip profit was used in the beginning. near the end, i just let those ride for bigger pip gains.

i've tested with multiple SL and TP. SL is really hard to define since it always ends up being in more losing trades.

please please i dont propose this trading for anyone, its stupid and dangerous, i just put it there because osmeone said how u scalp on forex.com well its doable but its not worth it.
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  • #30
  • Oct 8, 2007 12:43pm Oct 8, 2007 12:43pm
Quoting dominicanosrus
No; you cannot trade taking 1 pip profits on a continuous basis with Forex.com. It won't work. Furthermore, why would you want to scalp on such high spreads?

I saw your demo reports and backtests. It seems that you're allowing unrealized losses to accumulate with the hope that the position is coming back. Please tell me if I'm wrong.

Our high frequency scalper is in beta and it is written in C++. Works with FIX and will soon be tested on the CAX.

If you have a working scalping system that limits both realized and unrealized losses and can interface it to FIX let me know. We work with an institution who can provide funding.
pm sent.
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  • #31
  • Oct 8, 2007 11:19pm Oct 8, 2007 11:19pm
Quoting Quick
Hey everyone,

I've been trying to find some info on this but I'm coming up blank. Does anybody know if Forex.com allows scalping? I would be holding my trades anywhere from a few seconds to a few minutes (and no I am not trading the news).

Also, how is Forex.com as a broker in general? Does anybody have a live account with them? I'd love to hear people's experiences. Thank you!

If you have a certain broker question, ask the broker... makes sense!
  • #32
  • Last Post: Oct 8, 2007 11:26pm Oct 8, 2007 11:26pm
Quoting WHTenn
If you have a certain broker question, ask the broker... makes sense!
I don't think Little Red Ridding Hood should ask the big, bad wolf if he eats little children or not. I wouldn't; but then again, I'm a pessimist when it comes to brokers.
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