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Scalping and Brokers

  • #1
  • First Post: Jun 19, 2008 10:27pm Jun 19, 2008 10:27pm
Hello,
I'm new at this.
I've been seing a lot about scalping in FF, and a lot about brokers that will or won't admit scalping.
I have two questions:

1. If a broker's income is the spread, and scalpers are the ones trading more often, why would a broker want them out? Shouldn't it be the oposite?

2. Which brokers are the ones that accept scalping with the lower spreads? (please just aswers from people who have traded actively scalping for many months, not guesses )
  • #2
  • Jun 19, 2008 10:34pm Jun 19, 2008 10:34pm
go with ECN..
  • #3
  • Jun 19, 2008 10:38pm Jun 19, 2008 10:38pm
ECN style, market makers lose money with scalpers....well not all but the bucket shop ones do
  • #4
  • Jun 20, 2008 6:04am Jun 20, 2008 6:04am
Oanda is a great broker for scalpers. As a scalper you need fast execution and low spreads. Oanda has everyone beat on both accounts. You may see some ECN's with .5 spread on the EUR/USD, but after you factor in commissions, Oanda is still cheaper. Also, Oanda is coming out with one click order entries, so that will make scalping even easier for some traders.
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  • #5
  • Jun 20, 2008 6:45am Jun 20, 2008 6:45am
True, Oanda works well, personally I just don't like the interface etc. However I have read stories that when you are flagged for being profitable with them your orders start getting slipped, I don't know this 100% to be true just hearsay.
  • #6
  • Jun 20, 2008 7:32am Jun 20, 2008 7:32am
Quoting fxRichard
True, Oanda works well, personally I just don't like the interface etc. However I have read stories that when you are flagged for being profitable with them your orders start getting slipped, I don't know this 100% to be true just hearsay.
I can't speak for others, but I'm profitable month after month and no problems here. My experience with other traders is that when they start losing, they find anyone and everyone to blame but themselves.
Visit my journal here.
  • #7
  • Jun 20, 2008 8:05am Jun 20, 2008 8:05am
Quoting Batoobah
Hello,
I'm new at this.
I've been seing a lot about scalping in FF, and a lot about brokers that will or won't admit scalping.
I have two questions:

1. If a broker's income is the spread, and scalpers are the ones trading more often, why would a broker want them out? Shouldn't it be the oposite?

2. Which brokers are the ones that accept scalping with the lower spreads? (please just aswers from people who have traded actively scalping for many months, not guesses )
Go with an ECN for scalping.Try Hotsopfx .
I have account with Oanda and I have slippage (from 1to 5 pips)
Now I trade with Hotspotfx.IMO they are the best.
Or , open an account with Oanda and if you REALY make money you'll see with your eyes THE SLIPPAGE
  • #8
  • Jun 20, 2008 8:21am Jun 20, 2008 8:21am
Quoting Rosscub
I can't speak for others, but I'm profitable month after month ...

Relax Rosscub!
  • #9
  • Jun 20, 2008 8:49am Jun 20, 2008 8:49am
Quoting Rosscub
I can't speak for others, but I'm profitable month after month and no problems here. My experience with other traders is that when they start losing, they find anyone and everyone to blame but themselves.
That's great, like I said what I mentioned is just hearsay I don't know first hand with Oanda as I only have a demo with them. Do you ever get slipped with them and if so how much and how often? Just curious. Thanks
  • #10
  • Last Post: Jun 20, 2008 10:49am Jun 20, 2008 10:49am
Quoting fxRichard
That's great, like I said what I mentioned is just hearsay I don't know first hand with Oanda as I only have a demo with them. Do you ever get slipped with them and if so how much and how often? Just curious. Thanks
If you use market orders, you will get slipped. That is with any broker. When you submit a market order, you are asking for the NEXT best price. That price might be the same as the last price you saw, or it might be a different price. I have been slipped to my advantage and my disadvantage. The biggest problem I have had with Oanda is their Java platform. It will work great for weeks, and then there will be two or three days that are just hell. Today was one of them. My ordered was executed, but it didn't show as active for another 6 seconds after my entry was filled. This caused me to lose 1 pip instead of make 1. Really sucks when something like that happens.
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