scalp and trade news with GFT? | Forex Factory

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scalp and trade news with GFT?

  • #1
  • First Post: Sep 1, 2008 11:14pm Sep 1, 2008 11:14pm
HI all

can someone give me info about GFT?Does GFT allow scalp and trade news

thank you!
  • #2
  • Sep 2, 2008 6:32am Sep 2, 2008 6:32am
You're better off NOT scalping or trading the news with GFT. They have a dealing desk. I simply do not trade any news with them. Slippage and delayed pricing is a guarantee.

If you MUST trade the news find another broker imho. They're fine for normal trading though.
  • #3
  • Sep 5, 2008 5:12am Sep 5, 2008 5:12am
Quoting chuongfx
HI all

can someone give me info about GFT?Does GFT allow scalp and trade news

thank you!
Forget GFT, your market orders can be left in the pending orders tab waiting to be filled at any price the dealer decides to fill them, and there's nothing you can do. You can't cancel the order, you can't accept or decline a requote because there isn't one, you're totally at their mercy!
  • #4
  • Sep 5, 2008 10:15am Sep 5, 2008 10:15am
LOL, yes thats exactly what they doing.

Once Dealer Catch Your Order, so Wait You Fate.

Quoting lostinspace
Forget GFT, your market orders can be left in the pending orders tab waiting to be filled at any price the dealer decides to fill them, and there's nothing you can do. You can't cancel the order, you can't accept or decline a requote because there isn't one, you're totally at their mercy!
Charting Markets into the Future...MǎҖ€¥.
  • #5
  • Sep 9, 2008 5:19am Sep 9, 2008 5:19am
The thing i like with GFT, they Customer Service Is outstanding and very helpful.
Charting Markets into the Future...MǎҖ€¥.
  • #6
  • Sep 9, 2008 2:03pm Sep 9, 2008 2:03pm
Quoting MaXeY
The thing i like with GFT, they Customer Service Is outstanding and very helpful.
Sarcasm, right?

They're friendly for sure but I didn't find them all that helpful really, but at least they were polite
  • #7
  • Sep 9, 2008 4:53pm Sep 9, 2008 4:53pm
With GFT, if you have 500k you can get their prime platform with direct interbank access and 20+ liquidity providers. I haven't done it yet but I have asked them loads of questions about it. Scalping is allowed, comission is about $35 per mio round turn. Minimum trade size is 1 million though so it doesnt make much sense unless you have the 500k in credit lines or otherwise.

Scalping on their dealbook platform is useless unless you have a solid 1.5+ risk reward ratio and 50% win ratio. True scalping you can buy at the bid, sell at the ask so what your calling scalping is really a losers game, your essentially paying 3 pips per side with GFT so in order to make 10 pips, you have to actually make 16.

It's legalized rape (if im even allowed to say that on here...)
FX Specialist
  • #8
  • Last Post: Sep 9, 2008 5:33pm Sep 9, 2008 5:33pm
I dont know who invented the word "scalping" (besides the Indians) but I would discourage the term.
It is very difficult to trade with a market maker on spreads unless you hold the position for a longish period.ie range trade.
The ECN in the retail market is the best format to trade with.
In FX the idea is to capture the spread when trading not pay the spread.
If you master the art of being part of the price your profits should increase.
Those of you who think they can make money by latency ie trying to catch the broker out with stale prices are fooling themselves.
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