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Cable Update (GBPUSD)

  • #293,521
  • Nov 30, 2011 4:16am Nov 30, 2011 4:16am
Hey BB, welcome back did you have a good break?
Gone to a better place
  • #293,522
  • Nov 30, 2011 4:17am Nov 30, 2011 4:17am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
No I can't, no knowledge of trading. I am an amateur born yesterday

You too !!


Quoting normfx
I didn't think you could answer the question..have a good day.
  • #293,523
  • Nov 30, 2011 4:18am Nov 30, 2011 4:18am
it doesn't matter how big your account size is mate...

ECN brokers hedge against you...

STP brokers do not hedge against you because they do not carry positions on their books, unless they need to provide more liquidity. The only people who will hedge against STP Clients are the banks/market makers.

Quoting ams
I was talking about euro at the time.
Anyways, Ok, let's focus on PA. If we see 5450 soon again, which I reckon we will then gap will close itself, right?


I am with IG. I do not know if they take hedge against me as I do not have account bigger then 100K. They are ECN. I some large brokers take position against those who have account size larger then 500K
  • #293,524
  • Nov 30, 2011 4:20am Nov 30, 2011 4:20am
Quoting _BBKing_
prices are not moving or moving very slowly here in a very unusual low liquidity and high spreads in evey pair.
is it only me??
Just sitting between 55 and 200ema's, will stall anything for a while. Momentum sending us north I feel. No bearish divergence only bullish divergence from last week and bullish Price Action.
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Come with me if you want to live....
  • #293,525
  • Nov 30, 2011 4:22am Nov 30, 2011 4:22am
Quoting smikester
Hey BB, welcome back did you have a good break?
hello
yes i spent very nice days in barcellona!
i lost the flight sunday n came back yesterday 2 days late!!

i will go again there next year for at least 2-3 months, its a beatiful city!
90% of traders use TA, indicators and prediction
  • #293,526
  • Nov 30, 2011 4:24am Nov 30, 2011 4:24am
Quoting Ill-b-back
Just sitting between 55 and 200ema's, will stall anything for a while. Momentum sending us north I feel. No bearish divergence only bullish divergence from last week and bullish Price Action.
hello,
yes but ,maybe there is some issue in my broker.
also ecn platform not running....... uhm.

they want me to stay in holiday!
90% of traders use TA, indicators and prediction
  • #293,527
  • Nov 30, 2011 4:25am Nov 30, 2011 4:25am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Nope, you are wrong. Provide us a proof they hedge.

Not educating you but just letting out what I know.


STP brokers (as well as ECN) do not trade against their clients.

ECN brokers are the best choice among Forex dealers. They do not profit on spread difference. They only earn from commission. The aim for ECN brokers is that their clients win, otherwise there will be no commission to earn. They can set their own commission level and assign their own earnings.

STP brokers make money on spreads, they are able to set their own price - the spread markup - for routing trading orders to liquidity providers. STP brokers are also interested to see their clients trading profitable, so that a broker can continue earning on spreads. There is not a big difference in the earnings of an ECN broker compared with an STP broker. The only thing that is different is that you do not know which part of the spreads an STP broker gets. But you always see the height of the commissions of an ECN broker.

Market makers make money on spreads and by hedging against their clients. However, if a client becomes "too" profitable, it can directly "upset" the broker. While this may be tolerated and professionally managed by a larger reputable market maker, with a smaller dealer such client will be soon asked to leave. We are talking of large account size which can upset the broker or market maker.





Quoting SystemFX2011
it doesn't matter how big your account size is mate...

ECN brokers hedge against you...

STP brokers do not hedge against you because they do not carry positions on their books, unless they need to provide more liquidity. The only people who will hedge against STP Clients are the banks/market makers.
  • #293,528
  • Nov 30, 2011 4:27am Nov 30, 2011 4:27am
Quoting bumapatria
its best to show analysis of a trade.

like share why u believe it would be high probablilty mr. norm
My high probability is only do from watching over 600 trades over a period of 11 months..since I don't use charts its like comparing apples to oranges. I'll be glad to show you my method..make your own choice.
entry - 1.29250 s/l 200 pips
  • #293,529
  • Nov 30, 2011 4:28am Nov 30, 2011 4:28am
5525 the current lo - area of prev 1hr swing hi zone and the 100sma on 1hr...the white arrows on the 1hr chart below show that buyers were in the vicinity so when a repeating 1min 3min and 5min bullish div play set-up at the 5525 lo it had to be hi in probability.

I've fibbed the move from yesterday's hi to today's current lo 5656-5525, there are prtobably other moves that could be fibbed on this 1hr too...will take a look.

Price at 72% of 20day atr so far today.

G/L
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ex member
  • #293,530
  • Nov 30, 2011 4:39am Nov 30, 2011 4:39am
Quoting TauTrader
Ok - first shorts are in on EU after that little push higher... I remain in "selling the rallies" mode for the interim on both GU and EU.

Trade well
Tau, you asked me earlier why gaps were created and filled..I've answered the first part, and have waited for the so called experts to answer why the banks will fill them..as usual, they can't answer the question...since i've put several of these nasty losing traders (thats obvious) on my ignore list I'll send you the answer in a private message as to why banks close all gaps if possible...once again, the x-sperts have no clue.
entry - 1.29250 s/l 200 pips
  • #293,531
  • Nov 30, 2011 4:43am Nov 30, 2011 4:43am
Quoting SystemFX2011
why do you have to insult people all the time?

give it a rest! you aint perfect, so don't try to pretend to be!
You obviously have not seen the pile he makes most days and he is not really insulting - just a "instant" way of telling someone he is way off the mark !
  • #293,532
  • Nov 30, 2011 4:46am Nov 30, 2011 4:46am
Quoting ams
Nope, you are wrong.
No I am not! I asked a buddy of mine who's a EURO Bond trader, who also works for a very well known broker I'm with, who coincidentally I'm good friends of the CEO of.

And to prove a point the other day when this conversation came up, i showed them this link, after confirming it with the bond trader who's the financial manger of the broker I trade with (one of many).

Quoting ams
Provide us a proof they hedge.
No problem

http://www.100forexbrokers.com/stp-ecn-brokers

Scroll down half way the page... it'll tell you...

STP are: Straight Through Processing, meaning all orders are dealt directly via the bank. STP's make their money via the pip spread AND the traded volume in and out, for every $500 mil of volume traded through their system they get $50K commission; at least this one I deal with does; whom of which I'll be doing business soon as soon as I raise $20 million to start up a brokerage in Cyprus.

ECN are: Electronic Communications Network... these orders need to be filled by other orders going the other way, this is why you will see re-quotes from time to time because they can not match your order. And in order to do that, they hedge against their clients, and clients against clients.

Quoting ams
Not educating you but just letting out what I know.
It's all good, you're just misinformed my friend.

FYI, I personally know two market makers and I'm quite knowledgeable on how it works.

Here's some more details from my skype chat.

---------------
[11/28/2011 4:23:48 AM] Finance Manager: When you are an STP broker all positions that come in are automatically routred via a bridge from the mt4 to the books of the liquidity providers
[11/28/2011 4:24:11 AM] Finance Manager: Hedging only occurs if trades are left on the books of the broker
[11/28/2011 4:32:54 AM] Finance Manager: i mean that stp would not manually hedge
[11/28/2011 4:33:04 AM] Finance Manager: since trades are routed to the LP's
[11/28/2011 4:33:11 AM] Finance Manager: ECN is a different case
[11/28/2011 4:36:16 AM] Finance Manager: in ECN traders trade against each other

-----------
[11/28/2011 4:43:06 AM] Steve: and whats your view on these gaps that appear on sundays?
[11/28/2011 4:43:15 AM] Finance Manager: what do you mean?
[11/28/2011 4:43:24 AM] Finance Manager: they are part of the business
[11/28/2011 4:43:29 AM] Finance Manager: they appear all the time
[11/28/2011 4:43:50 AM] Finance Manager: market gaps as there are also news that affect sentiment during the weekends
[11/28/2011 4:43:55 AM] Steve: like today... e/j jumped 70 odd pips, and left a huge gap to be filled.... some say its all BS and there are no gaps and banks trade 7 days a week, etc, so there will be no gaps seen, only retail brokers have gaps.
[11/28/2011 4:44:20 AM] Steve: and that we are all imagining things
[11/28/2011 4:44:44 AM] Finance Manager: gaps occur on the interbank level
[11/28/2011 4:44:48 AM] Finance Manager: i witness it first hand
[11/28/2011 4:45:42 AM] Steve: i told some guy that the price is different when the feeds get turned on, cos like, netdania open 1 1/2 hours before any MT4 retail broker does and one can get to see the gap before it appears on the MT4...

so how does the interbank create those gaps, by releasing the info to MT4's late? so MT4 don't have the data, and starts from when MT4 brokers open? hence the gap
[11/28/2011 4:47:12 AM] Finance Manager: the feeds the interbank market provides to the retail market stops on Friday and starts on Monday
[11/28/2011 4:47:13 AM] Finance Manager: so yes
[11/28/2011 4:47:18 AM] Finance Manager: you are on the right track
  • #293,533
  • Nov 30, 2011 4:51am Nov 30, 2011 4:51am
Quoting normfx
a lack of success gives one a bad attitude..there's no other explanation.
that guy ! Lack of success ? Are you sure you know what you are talking ?
  • #293,534
  • Nov 30, 2011 4:51am Nov 30, 2011 4:51am
Quoting normfx
Tau, you asked me earlier why gaps were created and filled..I've answered the first part, and have waited for the so called experts to answer why the banks will fill them..as usual, they can't answer the question...since i've put several of these nasty losing traders (thats obvious) on my ignore list I'll send you the answer in a private message as to why banks close all gaps if possible...once again, the x-sperts have no clue.
Good day to you,

Thank you for taking the time. Appreciated.

Regards
  • #293,535
  • Nov 30, 2011 4:52am Nov 30, 2011 4:52am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hmmm, ignorance is bliss...

Don't mind my words.

I like many others stop'd coming to this threads because of uninformed people trying to prove a point.


Like me or any other chap on this thread.
To prove a point show proof of trading where you take the trades and where your SL and TP is. Rest, you can be god, no one gives a toss here to him either now a days unless he is good to them, isn't it

Where in the link you posted it says "ECN brokers hedge against their client"?

I have nothing better to do from yesterday so killing time!



Quoting SystemFX2011
No I am not! I asked a buddy of mine who's a EURO Bond trader, who also works for a very well known broker I'm with, who coincidentally I'm good friends of the CEO of.

And to prove a point the other day when this conversation came up, i showed them this link, after confirming it with the bond trader who's the financial manger of the broker I trade with (one of many).



No problem

http://www.100forexbrokers.com/stp-ecn-brokers

Scroll down half way the page... it'll tell you...

STP are: Straight Through Processing, meaning...
  • #293,536
  • Nov 30, 2011 4:53am Nov 30, 2011 4:53am
Quoting normfx
Tau, you asked me earlier why gaps were created and filled..I've answered the first part, and have waited for the so called experts to answer why the banks will fill them..as usual, they can't answer the question...since i've put several of these nasty losing traders (thats obvious) on my ignore list I'll send you the answer in a private message as to why banks close all gaps if possible...once again, the x-sperts have no clue.

if you are so expert and we are so stupid, then teach us on your trades and your big vision of that big secret about gaps.
looks like you own the holy grail.
good for you.

about me and gaps: gaps is the difference between friday closing price and sunday opening price in our brokers charts. not anymore. then you can use those prices as every day and every week closing prices are very important. same as for london opening price and london noon closing price.
a week closing and a day closing, or if you prefer the openings, are good supply and demand levels.

then: brokers are not against their customers.
and banks are not against market.
there is a supply and a demand which build a price. thats all.
and brokers help a trader to see what supply and demand shows in price with platform building candles, lines, etc.

makes no sense to discuss for half a day during most important session (london morning) about all these things.

market is running and everywhere there is an opportunity for profit or loss. its our choice nothing else! if you go long when thousands big traders are short.... you will see price going against you! its not your broker or a bank who need your 100$ or 10.000$. have you an idea of how many trading accounts are working in forex market around the world in every single pip?!?!?
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90% of traders use TA, indicators and prediction
  • #293,537
  • Nov 30, 2011 4:54am Nov 30, 2011 4:54am
I hope you guys are buying some GBP with all this fighting going on
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Come with me if you want to live....
  • #293,538
  • Nov 30, 2011 4:58am Nov 30, 2011 4:58am
come on guys this aint eu thread.

or is it?

i just been here seemed great yesterday but today....
Have I got something on my face, SOLDIER?
  • #293,539
  • Nov 30, 2011 4:58am Nov 30, 2011 4:58am
Quoting ams
I like many others stop'd coming to this threads because of uninformed people trying to prove a point.
Well that's true... however I'm not a guy to sit here and woffle a load of bollox for the fun of it matey.

You asked me to prove it, based on what I have researched myself and directly from the horses mouth...

with all due respect to the traders here, I'm more likey to believe a broker who has been around for almost a decade, who's CEO worked for one of the largest banks in Europe who then decided it was time to stop being a lacky and join the crew where the real money is made, right in the heart of it, cutting out all the middle men.


Quoting ams
Where in the link you posted it says "ECN brokers hedge against their client"?
Those are my words... what I mean by that, in order to have orders filled, clients have to hedge against other clients in order to have orders filled... if orders do not get filled the position is re-quoted until there are enough, so essentially they are hedging... if on the other hand the broker feels that the probability of a bunch of orders are going the wrong way, they'll hedge against those orders to make even more.

Quoting ams
I have nothing better to do from yesterday so killing time!
Me too...

Do good stuff

Steve
  • #293,540
  • Nov 30, 2011 4:59am Nov 30, 2011 4:59am
Quoting vilas
You obviously have not seen the pile he makes most days and he is not really insulting - just a "instant" way of telling someone he is way off the mark !
Yea right..not insulting..so hes got you snowed too..you probably believe he makes millions like that clogg character with his 190 winning trades in a row..hey, he showed em to everyone lol must be true. These millionaire hotshots hang around the forex factory taking cheap shots insulting newbie's...yea they got you snowed real good.
entry - 1.29250 s/l 200 pips
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