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Let's start the fight to brokers!!

  • #21
  • Sep 25, 2011 3:39pm Sep 25, 2011 3:39pm
The downward spikes in the CHF pairs on various broker feeds had nothing to do with brokers and everything to do with a messed up market because the Swiss Central Bank is retarded. Certain liquidity feeds produced incorrect information and there was a ridiculous downward spike on the CHF which is rather understandable when that central bank has announced that it's going to defend a particular price position. There's obviously no liquidity underneath that position currently so an error in the price feed in some cases is rather likely.

Some brokers play with their clients, that's rather undeniable I think but some of the ideas you have about how brokers and how the markets in general work...are rather out to lunch.

Cheers
  • #22
  • Sep 25, 2011 10:35pm Sep 25, 2011 10:35pm
Does anybody use Oanda and if so, how do you like them? I'm using them in demo now. New to ForEx here. But I've heard that demo is different than live. Great site here, by the way. Lots of good info on here from great traders. Thanks.
Time turns trend. - W.D. Gann
  • #23
  • Sep 26, 2011 12:10am Sep 26, 2011 12:10am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting _BBKing_
Hello,
i trade in forex since 2 years.
in my trading experience i learnt a lot of things.
trading is not for everyone, need nerves! and also... money!

then, after 'billions' of trades, losses, profits, stops @BEp etc i find me very angry and tired by how brokers scam markets, charts, and use our money like it is their money.

i think i will find a lot of traders agree with some rules i would like to see in every broker:

1st: every broker MUST have same candles in every time frame (from m1 to monthly etc..)
2nd: every broker...

Dream on.... you better learn golf!
  • #24
  • Sep 26, 2011 5:21am Sep 26, 2011 5:21am
RULE #9: When we loose we should only loose the profit we make from them not our CAPITAL.kos
John 3:16 - From THIS love no power on earth can me sever.
  • #25
  • Sep 26, 2011 9:40pm Sep 26, 2011 9:40pm
Quoting _BBKing_
1st: every broker MUST have same candles in every time frame (from m1 to monthly etc..)
That would be complicated. Each broker makes their own market, even ECNs who each have a different set of liquidity providers so unless you find a way to centralise the Forex market into one exchange like the various stock markets, that wish is an impossibility. It's like gathering all the shoe shops together in a city and making them charge the same prices exactly.

Quoting _BBKing_
2nd: every broker MUST show weekend interbank trading and not hide those moves. they can simply disable trading during it, but this at least would not fake our charts.
The market is not officially open on the weekend. It's 24/5.

Quoting _BBKing_
3rd: we MUST NOT fund into broker account. money MUST stay in our bank account or where-ever we want to, like it was some year ago.
Fair enough, but it would take several days to open or close a position since you would need to send the margin funds required to your broker and get them back again afterwards. Imagine your monthly bill for wire fees! :o

Quoting _BBKing_
4th: broker MUST have a fixed spread in whole markets, and same spread for every broker. i think an average 2pips on majors n 4pips in other shall be enough!!!
You want every broker to be a market make or bucket shop? I much prefer the ECN model. My broker has on average 0.3-0.5 pips spread on EUR/USD. I'm not giving that up for a 2 pip spread!

Quoting _BBKing_
5th: brokers MUST let traders to install 1 and only 1 platform, which can execute orders in more than 1broker! so we can have 2-3-200 brokers, but only 1 platform running and decide if execute an order in 1 or in 150 brokers. this would be more true until there is different spreads!!!
Now this is an interesting proposition. I don't mean the forcing of one platform though. A new platform that opens a trade with the broker giving the best conditions at the time based on a set of restraints that you program into it is a good idea. I don't see how it would help much in trading though but it would be an interesting marketing gimmick and it might force a bit of competition between brokers if the concept became widespread.

Quoting _BBKing_
6th: brokers MUST disable things like what happened to me once : i had a sell stop order with a target and a trailing stop, they opened the trade 5pips near what was the target, then price went against and triggered the stop loss, without triggering the trailing stop causing me an heavy loss! they say it is due because in low liquidity they execute orders as near as they can.... does this make sense??? they MUST give us the possibility to set a max range where open or not open the trade!!!
Unfortunately, low liquidity gaps are unavoidable. What you are talking about here I think is news "trading", or news gambling as I like to put it. At major news releases, most "big money" removes all of their money from the market until they absorb and analyse the information presented. This lack of available liquidity to fill orders widens spread (supply and demand you know) and can cause gaps. Unless you can force all the bank and big players to risk their billions by keeping them in the market on a news release, the abolition of slippage and gaps is impossible. Brokers don't cause this themselves (not talking about bucketshops that can do dirty things to you).

We would all love perfect conditions. A market where bigger fish don't eat little fish and cats and dogs live together in peace and harmony, but in the real world, this is not possible. This is capitalism. Supply and demand will always dictate prices in Forex just as it does in other markets like commodities. For example, a storm hitting a major producer of coacoa beans would raise the price of said beans because there are less beans to buy in the world.
  • #26
  • Sep 27, 2011 2:38pm Sep 27, 2011 2:38pm
Quoting jafar00
That would be complicated. Each broker makes their own market, even ECNs who each have a different set of liquidity providers so unless you find a way to centralise the Forex market into one exchange like the various stock markets, that wish is an impossibility. It's like gathering all the shoe shops together in a city and making them charge the same prices exactly.



The market is not officially open on the weekend. It's 24/5.



Fair enough, but it would take several days to open or close a position since you would need to send the margin funds...
thank you for your reply very complete!
well, as you point out, there are some lacks on my rules...
some things i know are impossible or really hard, but im sure that something can be done.

about #1 i mean to regulate broker's opening and closing time on friday's / sunday's to print same h4 - monthly charts. some use 0gmt time some other another one... is it so hard to be the same for every one? i dont know but also i dont think!

#6 ok but they could so let us to set a max n min range for opening price. i was used to use stop orders on brekouts.. not only during news! now i dont use stop orders anymore.

#4 n #5 is the core of my trouble: why should i have 2-3 brokers (or more) to check different h4 setups, to have different spreads etc...? to do this i need to install 2-3 (or more) platform in my system. slowing connection and ram. 1 mt4 with them all and with their different spreads etc would be better for everyone imo.

what i mean, completely agree with you, is that market is a very hard thing and supply n demand dominates. but brokers not only ask us the spreads, they eat positions giving more confusion in prices, instead of give best service for best trading way!
90% of traders use TA, indicators and prediction
  • #27
  • Last Post: Oct 13, 2011 3:54pm Oct 13, 2011 3:54pm
ok
i must admit i thought to find out more people agree with me
maybe will close this thread

thanks for all people who gave a read n a reply

green pips to you all
90% of traders use TA, indicators and prediction
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