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  • #487,201
  • Jul 12, 2011 2:12pm Jul 12, 2011 2:12pm
Quoting cloggie
IF you are a scalper and you have 50+ trades a day then you are behind the curve for at least 200-250 pips before you even break even. Let's not even begin to talk about all the games the broker can play with you to put you another 50-100 pips behind the ball.
Na, I'm interested in scalping and do the occasional quick scalp, but mainly swing trading. I think it's really tough scalping retail, even if you pay 1.3 pip net cost (say 0.5 spread, 0.8 comish) + the games other retail brokers play with market making.
Trends, breakouts, price action.
  • #487,202
  • Jul 12, 2011 2:14pm Jul 12, 2011 2:14pm
Quoting gatorinla
reward for above setup is 4003 st.
lt 3613.
have a good day
those who can, do. those who cant, talk about those who can
  • #487,203
  • Jul 12, 2011 2:14pm Jul 12, 2011 2:14pm
Quoting cloggie
It just tells you the (limit) orders from the other retail muppets, is that really something you want to look at??????
So there's no such thing as an 'institutional level 2'? Not sure if I want to look at the retail muppets' limits or not, might make a good contrarian indi for where all the market orders could be taking the price (based on how many limits are being taken?)
Trends, breakouts, price action.
  • #487,204
  • Jul 12, 2011 2:15pm Jul 12, 2011 2:15pm
Quoting cloggie
Keep in mind you pay it twice, retail brokers will close your trade the spread in your favour.
I'm a little confused, or better yet my lack of knowledge shows. What are the NON retailers brokers (?!) and what are the conditions to trade through them? Is that the right question even?
  • #487,205
  • Jul 12, 2011 2:15pm Jul 12, 2011 2:15pm
Quoting cloggie
Unless you pull out 200-300 pips a day as a scalper you are not going to beat a proper intraday trader, every trade you are 5-6 pips in the hole, ECN or not, MT4 is just a massive obstacle to success in this business, it looks good, the charts are pretty, but slippage and latency is just horendous.

IF you are a scalper and you have 50+ trades a day then you are behind the curve for at least 200-250 pips before you even break even. Let's not even begin to talk about all the games the broker can play with you to put you another 50-100 pips behind...
Agree.. if you are a high frequency scalper doing high volumes of 3-10 pip trades , MT4 is not an option. In fact, I don`t know of any really consistent , profitable scalpers using MT4.
" Never let the past hold the future to ransom "
  • #487,206
  • Jul 12, 2011 2:15pm Jul 12, 2011 2:15pm
Quoting aizazk
So there's no such thing as an 'institutional level 2'?

Yes there is, but you won't get to see it with any of the retail brokers.
  • #487,207
  • Jul 12, 2011 2:16pm Jul 12, 2011 2:16pm
Quoting attila
and what are the conditions to trade through them?

Money. That is the only condition.
  • #487,208
  • Jul 12, 2011 2:17pm Jul 12, 2011 2:17pm
Quoting cloggie
Money. That is the only condition.
Who are they?
  • #487,209
  • Jul 12, 2011 2:17pm Jul 12, 2011 2:17pm
EBS Prime Brokerage (ICAP) --> Minimum Deposit: 1.000.000$
  • #487,210
  • Jul 12, 2011 2:18pm Jul 12, 2011 2:18pm
Quoting attila
Who are they?

Any Prime Brokerage. But even then you only get to see their LP's
  • #487,211
  • Jul 12, 2011 2:19pm Jul 12, 2011 2:19pm
anything you'll get from lvl 2, you can find right on your charts. all the information is there, just learn to read it
  • #487,212
  • Jul 12, 2011 2:19pm Jul 12, 2011 2:19pm
Quoting attila
Who are they?
cheapest one to get into I think is Rabo Bank
  • #487,213
  • Jul 12, 2011 2:19pm Jul 12, 2011 2:19pm
Quoting cloggie
Yes there is, but you won't get to see it with any of the retail brokers.
Well I kinda figured that part hehe. But that's interesting info, especially the part where you said you pay spread twice when retailers close it in your favour
Trends, breakouts, price action.
  • #487,214
  • Jul 12, 2011 2:20pm Jul 12, 2011 2:20pm
Quoting piptornado
cheapest one to get into I think is Rabo Bank
How much they want?
  • #487,215
  • Jul 12, 2011 2:20pm Jul 12, 2011 2:20pm
Quoting aizazk
Well I kinda figured that part hehe. But that's interesting info, especially the part where you said you pay spread twice when retailers close it in your favour

You always pay your spread twice on each and every trade, look where the price is next time you close a trade and then look at your records to see where your trade actually closed. Spread is a transaction cost and closig a trade is a transaction.
  • #487,216
  • Jul 12, 2011 2:20pm Jul 12, 2011 2:20pm
Quoting attila
How much they want?
i think you can get in with 500k
  • #487,217
  • Jul 12, 2011 2:21pm Jul 12, 2011 2:21pm
Quoting piptornado
i think you can get in with 500k
only 500K....damn...
  • #487,218
  • Jul 12, 2011 2:21pm Jul 12, 2011 2:21pm
Quoting attila
Who are they?
Alpari Direct Pro, for instance. Minimum 10k balance. I think they are still more focused on a 'Retail ECN' setup though.
  • #487,219
  • Jul 12, 2011 2:22pm Jul 12, 2011 2:22pm
Quoting cloggie
You always pay your spread twice on each and every trade, look where the price is next time you close a trade and then look at your records to see where your trade actually closed.

bastards...
Look Sharp/Trade Tight
  • #487,220
  • Jul 12, 2011 2:22pm Jul 12, 2011 2:22pm
Quoting piptornado
i think you can get in with 500k
Not gonna pretend. It's outta my league. I'll go with citi then.
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