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Brokers Fault or Traders Fault?

  • #1
  • First Post: Mar 21, 2011 3:48am Mar 21, 2011 3:48am
Greetings fellow traders!

Theres been a thought on the back of my mind which I just can't seem to come to a conclusion with. Wondering if any of the experts/newbie traders can give me some help here.

I've been looking into the brokerage section of the forum and looking at overal reviews of brokers etc... and it looks like people's opinions are really varied on this subject. I know the overall sentiment is: Market Makers are BAD and ECNs are GOOD etc... but I can take one broker xyz for example and there would be people saying how unreliable they are and then people vouching for them.

So I guess my question is does YOUR performance highly depend on YOU as a trader or does it depend on how your Broker "handles" your transactions?
i.e can you still be successful with a Market Maker broker and make money? Does it really all matter in the end?

Curious what people's thoughts are on this topic. All inputs are welcome, but let's not get into a fierce debate we are all here to learn from each other and prosper as traders.
  • #2
  • Mar 21, 2011 3:52am Mar 21, 2011 3:52am
I should also add that all things being fair including spread, margins, fees, commissions etc... does it matter which Forex Broker a trader goes with be it Market Maker, STP, ECN etc...
  • #3
  • Mar 21, 2011 6:51am Mar 21, 2011 6:51am
Quoting Azli1
Greetings fellow traders!

Theres been a thought on the back of my mind which I just can't seem to come to a conclusion with. Wondering if any of the experts/newbie traders can give me some help here.

I've been looking into the brokerage section of the forum and looking at overal reviews of brokers etc... and it looks like people's opinions are really varied on this subject. I know the overall sentiment is: Market Makers are BAD and ECNs are GOOD etc... but I can take one broker xyz for example and there would be people saying how unreliable...
well, I think why the ECN's are better is because, if you lose with an ECN you KNOW that it was your fault and not the dealing desk stopping you out. Having said that, the more long-term your strategy is, the less you rely on what kind of broker you actually have, i.e. The broker can't take out your stop when it is 100 to 200 pips away, slippage is then also of no consideration...
  • #4
  • Mar 21, 2011 9:05am Mar 21, 2011 9:05am
Unless you are trading a very, very large account I don't think the broker is at fault more than 20% of the time there is an issue. Traders like to blame the broker instead of admitting to a mistake. Typically, the only real problem a trader will have with a broker is getting money out of their account.
  • #5
  • Mar 21, 2011 9:26am Mar 21, 2011 9:26am
I've discovered that most of my wins were due to my brilliance, my losses were caused by that %&#$) borker ---
In trading, there is no bullshit. You either make money or you don't.
  • #6
  • Mar 21, 2011 9:51am Mar 21, 2011 9:51am
Quoting mrgreen
I've discovered that most of my wins were due to my brilliance, my losses were caused by that %&#$) borker ---
this is an old joke on ff, never thought i see this again. hahahaha
  • #7
  • Mar 21, 2011 5:17pm Mar 21, 2011 5:17pm
Quoting Custos
well, I think why the ECN's are better is because, if you lose with an ECN you KNOW that it was your fault and not the dealing desk stopping you out. Having said that, the more long-term your strategy is, the less you rely on what kind of broker you actually have, i.e. The broker can't take out your stop when it is 100 to 200 pips away, slippage is then also of no consideration...
Hmm that's a good point.
Thanks for your thoughts!
  • #8
  • Mar 21, 2011 5:18pm Mar 21, 2011 5:18pm
Quoting JFogel
Unless you are trading a very, very large account I don't think the broker is at fault more than 20% of the time there is an issue. Traders like to blame the broker instead of admitting to a mistake. Typically, the only real problem a trader will have with a broker is getting money out of their account.
Yeah Agreed.
Thanks for contributing.
  • #9
  • Last Post: Mar 21, 2011 5:19pm Mar 21, 2011 5:19pm
Quoting mrgreen
I've discovered that most of my wins were due to my brilliance, my losses were caused by that %&#$) borker ---
Haha nice~
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