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Ask Bill Your Trading Questions

  • #21
  • Aug 17, 2012 8:21am Aug 17, 2012 8:21am
Quoting DesertSky
This question is not how FXDD handles its trade operations but a question about all NFA registered brokers as a whole. Are there any rules or regulations by the NFA or CFTC that forbids brokers marking up the price of an ECN feed without disclosing it to the client?


[color=black][font=Verdana]There is also some confusion due to different brokers using different terminology. Can you please let us know the difference if any between Straight through Processing and an ECN feed? I have heard others explain...
Those are great questions, and we will get you the answers you are looking for as quickly as possible. Thanks!
  • #22
  • Aug 17, 2012 8:22am Aug 17, 2012 8:22am
Jack Larkin, you asked "Where do you see the spot market in 5 years from a brokerage's point of view?"

We brought in our Senior VP of Markets and Liquidity to answer it for you.

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  • #23
  • Aug 17, 2012 8:34am Aug 17, 2012 8:34am
Peter - Thanks for taking the time to answer those concerns, that's exactly what I wanted to hear.

Quoting Peter Davis
Forex2k10 and Poundtrader: we appreciate your concern and interest, and wanted to take a moment and use this opportunity to address that particular issue.

FXDD is sensitive to your concerns regarding the BCC action filed by the NFA against the firm. We adjusted our slippage parameters to ensure that orders are executed within symmetrical allowances well over a year ago, and are currently working with the NFA to resolve the other issues set forth in the action. The firm works very diligently to ensure that all our activities comply with...
  • #24
  • Aug 19, 2012 10:49pm Aug 19, 2012 10:49pm
Thanks for the answer Peter.

Cheers!
FXGears.com
  • #25
  • Aug 20, 2012 8:25am Aug 20, 2012 8:25am
Quoting DesertSky
This question is not how FXDD handles its trade operations but a question about all NFA registered brokers as a whole. Are there any rules or regulations by the NFA or CFTC that forbids brokers marking up the price of an ECN feed without disclosing it to the client?
DesertSky, we appreciate the question. You asked if there "are any regulations that forbid brokers from marking up ECN prices?"

We had our Senior VP of Markets and Liquidity address that for you:
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  • #26
  • Aug 20, 2012 8:29am Aug 20, 2012 8:29am
Quoting DesertSky
There is also some confusion due to different brokers using different terminology. Can you please let us know the difference if any between Straight through Processing and an ECN feed? I have heard others explain this but I would like to hear it come directly from the broker if possible. Thanks
Thanks DesertSky, this is a question we hear a lot of confusion about, so we are glad you gave us the opportunity to clear it up for you!

You asked what the difference is between STP and ECN feeds?

We brought in our Senior VP of Markets and Liquidity to answer that for you:
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  • #27
  • Aug 22, 2012 3:32pm Aug 22, 2012 3:32pm
FXDD does not offer a true institutional feed. This in my opinion is 10 years behind other NFA brokers. After looking at their feed and comparing them to other feeds like Alpari's Currenex, FXCM Pro and MB trading etc. their spreads on their platforms are about 100% to 200% wider on the Majors.(FXDD best feed) And they still want to charge you a commission. Nothing against FXDD, I want others to know, so they don’t waste as much time dealing with them as I have. I believe they are a retail shop looking to deal with new forex traders who don’t know any better. For new traders out there, I highly suggest going with a True ecn broker with tight spreads that charge a small commission. I researched this extensively and in my opinion Alpari and FXCM are the best NFA registered brokers, as far as tight spreads, liquidity and safety of funds. A great site to compare brokers’ spreads is fxintel.com
  • #28
  • Aug 23, 2012 12:44am Aug 23, 2012 12:44am
Quoting ha-pattern
I can answer that:
I sure hope not, because the quality of technical analysis is very low right now, most people more attuned to indicators and automation as a substitute to in-depth study of the chart.

I used to follow news heavily in another market (stocks),
only I found there was more to be had in doing only TA (forex)...........
Absolutely.
The road to pipland is arduous and fraught with challenge.
  • #29
  • Aug 24, 2012 11:23am Aug 24, 2012 11:23am
Quoting Goat
I have a question for you Bill... you see a lot of trading activity from retail traders and may be in a position to answer this: What is the relationship between profitability and trade duration? In other words, does a trader with a longer trade duration generally make more money than a trader with a shorter trade duration?
Goat, you asked, and Bill answered. You can view his thoughts on that topic here:

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  • #30
  • Aug 24, 2012 11:26am Aug 24, 2012 11:26am
Quoting ha-pattern
'Course, then my question would be,

"When do you know to switch from demo to real trading?"
Ha-Pattern, you asked and Bill answered. You can view his response to your question here:
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  • #31
  • Aug 25, 2012 2:59am Aug 25, 2012 2:59am
Bill, you said you have a 22-year experience in FX. Tell us a bit about how FX trading was back then, compared to now.
  • #32
  • Aug 25, 2012 1:40pm Aug 25, 2012 1:40pm
Are Bloomberg, EBS and Reuters are still the three largest Networks in the forex Business? Or has anything changed or envolved regarding that? The second question would be if a Trader in the retail Business has a disadvantage over a Trader who uses one of the large networks
Forex is a losers game.
  • #33
  • Aug 25, 2012 9:55pm Aug 25, 2012 9:55pm
Quoting Forex5050
Bill, you said you have a 22-year experience in FX. Tell us a bit about how FX trading was back then, compared to now.

http://www.northmanfamily.com/mnorth...extmedium.jpeg

Exactly like this....
  • #34
  • Aug 28, 2012 10:59am Aug 28, 2012 10:59am
Forex5050, thanks for the question. We'll have Bill with us shortly to share his experiences in the FX market over the years.
  • #35
  • Aug 30, 2012 10:13am Aug 30, 2012 10:13am
Quoting Forex5050
Bill, you said you have a 22-year experience in FX. Tell us a bit about how FX trading was back then, compared to now.
Forex5050, you asked, and Bill answered. Watch this video to get an idea of what things were like in the FX market when Bill first got involved:
Inserted Video
  • #36
  • Last Post: Aug 30, 2012 10:46am Aug 30, 2012 10:46am
Quoting Peter Davis
Hello PoundTrader,

If you contact our office we will gladly answer any of your questions about our operations, however, the goal of this thread and discussion is to answer questions about the Forex market and provide education to those who want it.
WHAT!!! did i just hear a bank robber say he wants to teach his victims how to steal from him! Damnn!!! Im sleep walking again!!!. Gat to stay off this damm WEED Hey, got a trading question for you bro, "Would love to rob you till I get banned, so please kindly teach me how to beat your Virtual and Human dealer Pluggins??? pls im begging
The only way not to think about money is to have a great deal of it
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