Hi, Please could someone tell me the difference between a requote and an offquote. I know that a reqoute is the broker offering a different price but what is an offquote?
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Joined Apr 2006
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Status: PhD in Smoke and Mirrors
|274 Posts
It's another version of a delaying tactic. Your feed is actually not quite live. If you are trying to take a trade that is against your borkers best interest, This can happen two or three times in a row, until they let you on at a time and place that suits them.
All part of the game.
The only ECN I have an account with is MB Trading. I have never had a requote let alone an offquote.
Having said that there are many ways the borkers can screw you a piece at a time. Often orders will be partially filled at one price, the balance of the order at another price. The first part of the order fill is usually the smallest part. Can anybody prove foul play, I doubt it.
At the end of the day you need an edge to have a chance in this game, something solid that can easily overcome what ever your borker throws at you. System and edge equals 20%. You equals 80%.
