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How many people here have about 5 funded retail accounts and look for the best price

  • #1
  • First Post: Sep 8, 2008 1:43am Sep 8, 2008 1:43am
whenever you see a chart set up and ready to place a order...say for 5 lots. do you think it is a good idea to have 4-5 different retail accounts, and you find the best price then execute your order on that platform.

in a way...line shopping.

i think you can save a lot of pips that way.
  • #2
  • Sep 8, 2008 1:52am Sep 8, 2008 1:52am
Quoting Geelong_Cats
whenever you see a chart set up and ready to place a order...say for 5 lots. do you think it is a good idea to have 4-5 different retail accounts, and you find the best price then execute your order on that platform.

in a way...line shopping.

i think you can save a lot of pips that way.
Just hook yourself up to an ECN broker whereby you can bid or offer inside the spread then you become best price.
Dont be afraid to put an offer or a bid in the market and let someone else pay the spread.
Make sure your offer or bid is realistic ie you want to deal not a price chaser.
I never pay a spread unless im stopping myself out.
  • #3
  • Sep 8, 2008 8:48am Sep 8, 2008 8:48am
That is easier said than done. Nowadays with the 0.1 pip precision pricing there are so many updates in a such a short time that it is difficult to post such an order manually without the price moving along meanwhile. I was thinking about writing an automated solution for this, that also takes into account short term market-conditions and make a decision when it is more favorable to cross the spread and/or chase price and when it is more favorable to buy the bid/sell the offer. I didn't get much testing done yet tho.
  • #4
  • Last Post: Sep 9, 2008 7:20pm Sep 9, 2008 7:20pm
Quoting shrike
That is easier said than done. Nowadays with the 0.1 pip precision pricing there are so many updates in a such a short time that it is difficult to post such an order manually without the price moving along meanwhile. I was thinking about writing an automated solution for this, that also takes into account short term market-conditions and make a decision when it is more favorable to cross the spread and/or chase price and when it is more favorable to buy the bid/sell the offer. I didn't get much testing done yet tho.

The market has been very choppy of late.
Market makers are still on 2 pips spreads.The chances of hitting them at a the price is becoming a joke. Why?
Because the interbank market is whippy too and they price feed through API's to the market makers.
Dont let these current conditions deter you.
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