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  • #4,621
  • Aug 8, 2012 12:40am Aug 8, 2012 12:40am
look at the AUDCHF
Attached Image (click to enlarge)
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  • #4,622
  • Aug 8, 2012 12:40am Aug 8, 2012 12:40am
Quoting DaddyBear
M30
Looks like a soon-to-be W to me:
quite solid a double-bottom on that TF I see ...
  • #4,623
  • Aug 8, 2012 12:41am Aug 8, 2012 12:41am
Can anyone please tell me what is the difference between a Market maker and a broker in forex ?? and which one is better and safer to use?
  • #4,624
  • Aug 8, 2012 12:49am Aug 8, 2012 12:49am
Quoting doblece
Looks like a soon-to-be W to me:
quite solid a double-bottom on that TF I see ...
dobie, it cannot be a W in my opinion. Pattern N will complete in 15 to 20 minutes.
daddybearforex. com
  • #4,625
  • Aug 8, 2012 12:52am Aug 8, 2012 12:52am
Quoting Daytrader74
Can anyone please tell me what is the difference between a Market maker and a broker in forex ?? and which one is better and safer to use?
I think you mean "market makers" vs. "ECNs".

Basically market makers usually hold and manage most transactions "in-house" (thus being counterparty to most of their clients' trades) while ECN brokers transfer them to one or more liquidity providers.

So, theoretically an ECN would be less subject to price manipulation and shady practices.

This is what I consider an important asset, however some brokerages advertise themselves as ECNs and might not comply fully to this category. A due diligence has to be carefully exerted.

Here is a short list of the main differences, and both sides advantages and disadvantages:
http://www.forextradingzone.org/articles-ECN_vs_Market_Maker
  • #4,626
  • Aug 8, 2012 12:52am Aug 8, 2012 12:52am
Quoting Daytrader74
Can anyone please tell me what is the difference between a Market maker and a broker in forex ?? and which one is better and safer to use?
An example of a market maker is Oanda. What they do is everytime you enter a position, either another one of their customers takes the position against you, and if there is no one there to do that, they will take the position against you.

A broker like TD Ameritrade actually puts your order on the open market, or "straight through processing". You are taking positions against other traders, especially banks and other brokers.

Oanda has a clean track record, but people are sometimes afraid of these types of brokers because of possible "stop loss hunting". They make money when you lose.
  • #4,627
  • Aug 8, 2012 12:53am Aug 8, 2012 12:53am
Quoting DaddyBear
or N, no M.
Ok Thank.
  • #4,628
  • Aug 8, 2012 12:55am Aug 8, 2012 12:55am
Quoting Daytrader74
Can anyone please tell me what is the difference between a Market maker and a broker in forex ?? and which one is better and safer to use?
Regardless of which one you use, none is safe in my real experience.
daddybearforex. com
  • #4,629
  • Aug 8, 2012 12:56am Aug 8, 2012 12:56am
Quoting DaddyBear
dobie, it cannot be a W in my opinion. Pattern N will complete in 15 to 20 minutes.
Hmmm... your N and my W can coexist?

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  • #4,630
  • Aug 8, 2012 12:58am Aug 8, 2012 12:58am
Quoting Teddicus
look at the AUDCHF
What do you see?
Some people say I'm lucky, but the more I practice the luckier I get
  • #4,631
  • Edited 1:09am Aug 8, 2012 12:58am | Edited 1:09am
Aud received the 2nd bounce off 1.0530 area. 2nd time support was tested this asia. 1hour chart. The uptrend is still intact.

before the bear get carried away on the bus ride down from 1.06. There is still a possibility to see 1.0610-20 today if bull camp at 1.0530 stays firm.

breaching support, we can see 1.0515.

Before sell stops at 1.05.

Forexlive: AUD/USD: 1.0450, 1.0500, 1.0515 Option expiry
For the 1000NY/1400GMT cut

My plan is to short again if this past 1.06

intra-day longs can be placed from 1.0510-30, stops should not be after 1.0500 by too far.

novices don't take my trade ideas blindly, trade responsibly
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  • #4,632
  • Aug 8, 2012 1:01am Aug 8, 2012 1:01am
Quoting doblece
I think you mean "market makers" vs. "ECNs".

Basically market makers usually hold and manage most transactions "in-house" (thus being counterparty to most of their clients' trades) while ECN brokers transfer them to one or more liquidity providers.

So, theoretically an ECN would be less subject to price manipulation and shady practices.

This is what I consider an important asset, however some brokerages advertise themselves as ECNs and might not comply fully to this category. A due diligence has to be carefully exerted.

Here is a short...
So. How will we know our transaction is ECN truly?

And I want to know if market maker or ecn can control market , Do we safe to play with them?
  • #4,633
  • Aug 8, 2012 1:04am Aug 8, 2012 1:04am
Quoting doblece
Hmmm... your N and my W can coexist?

Attachment
So N was born to W?
daddybearforex. com
  • #4,634
  • Aug 8, 2012 1:06am Aug 8, 2012 1:06am
Quoting Daytrader74
Can anyone please tell me what is the difference between a Market maker and a broker in forex ?? and which one is better and safer to use?
i guess broker is like a middle man, agent that place your trade with interbank/liquidity provider directly and do not mess around. Earns your commission mainly

market maker takes your money and bet against their clients and decide what they want to do with it. MM plan to trade against gamble clients, profiling clients that risk high leverage and likely to lose lose lose cannot sustain account. they calculate their net long and shorts.

any brokers that allows me to withdraw without difficulty and execute my plans accordingly in seconds are good brokers.

i can be wrong.
Attached Image
  • #4,635
  • Aug 8, 2012 1:07am Aug 8, 2012 1:07am
Quoting bouble
Ok Thank.
Papa , I see M & N in H1
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  • #4,636
  • Edited 1:34am Aug 8, 2012 1:16am | Edited 1:34am
Quoting bouble
Papa , I see M & N in H1
This is not the way patterns are formed. You cannot just draw a letter and call it a pattern. The patterns are based on EWP and have their own meanings.
daddybearforex. com
  • #4,637
  • Aug 8, 2012 1:20am Aug 8, 2012 1:20am
Quoting bouble
So. How will we know our transaction is ECN truly?

And I want to know if market maker or ecn can control market , Do we safe to play with them?
claims written and made by broker on their website/ introductory videos or chat with their account manager should verify this.

No one can control the market, only can control clients mainly. When you are shorting, someone will be longing, so its a 50/50 game. Unless you are referring to that MM can cause spread to be as wide as 20pips during major news and eat your stops, spike up and spike down, most brokers experience the same as well..

Oanda's spread tend to widen during major impact news, and they claimed to be MM and honest about it..
  • #4,638
  • Aug 8, 2012 1:24am Aug 8, 2012 1:24am
Quoting DaddyBear
This is not the way patterns are formed. You cannot just draw a letter and call it a pattern. The patterns are based on EWP and have their own meanings.
Ok Thank.

In H1 , I think if 75MA line cross 100 MA line will has n & N.
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  • #4,639
  • Aug 8, 2012 1:26am Aug 8, 2012 1:26am
Quoting bouble
So. How will we know our transaction is ECN truly?

And I want to know if market maker or ecn can control market , Do we safe to play with them?
A true ECN should provide access to information about the true market liquidity. Everyone's orders are shown in the system and thus you know where the liquidity is.

About safety: In my opinion, there is no such thing as "safe" in life. Only degrees of relative safety. Even the most honest businesses can go bankrupt and fail to comply with their obligations. Even big players/banks get scammed.

Traders' speculative activity should only be conducted with money that we can afford to lose. It is a very high risk and difficult business, even more than the stock market, some say.

The Forex market in theory cannot be controlled by either of its participants (at least for excessively long periods) because it is a global market and depends on diverse economic factors. However of course the participants with the greatest liquidity (Central Banks, Hedge Funds, Corporations ...) will have a much greater influence than for example a small retail brokerage firm, which are at the last tier of the list.
  • #4,640
  • Aug 8, 2012 1:27am Aug 8, 2012 1:27am
Quoting 5percent
claims written and made by broker on their website/ introductory videos or chat with their account manager should verify this.

No one can control the market, only can control clients mainly. When you are shorting, someone will be longing, so its a 50/50 game. Unless you are referring to that MM can cause spread to be as wide as 20pips during major news and eat your stops, spike up and spike down, most brokers experience the same as well..

Oanda's spread tend to widen during major impact news, and they claimed to be MM and honest about it..
With their spread?
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