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  • #1,361
  • Nov 7, 2012 7:38pm Nov 7, 2012 7:38pm
Quoting Jack_Larkin
Standard has a 1 pip markup from the raw feed (Razor) but no commissions.

So the difference is exactly 1 pip wider spread, same way the old (non-Edge) spreads worked between Razor and Standard.
Lookie what I found:

Appears to be the mobile version of their new web trader package, in HTML5

http://sirixmobile.pepperstone.com

Obviously you'd be accessing this from your smart phone, but since it's HTML5 based you can load it up in any modern web browser as well.
FXGears.com
  • #1,362
  • Nov 7, 2012 7:41pm Nov 7, 2012 7:41pm
switching 'mobile' for 'tablet' in the URL seems to work as well:

http://sirixtablet.pepperstone.com

Looks to be the tablet interface.
FXGears.com
  • #1,363
  • Nov 7, 2012 11:08pm Nov 7, 2012 11:08pm
what are the overall expenses to trade ECN with Pepperstone in pips? (spread + commission per round turn)
  • #1,364
  • Nov 7, 2012 11:26pm Nov 7, 2012 11:26pm
Quoting centralbee
what are the overall expenses to trade ECN with Pepperstone in pips? (spread + commission per round turn)
What pair? What liquidity period?
  • #1,365
  • Edited 12:15pm Nov 8, 2012 11:17am | Edited 12:15pm
Quoting centralbee
what are the overall expenses to trade ECN with Pepperstone in pips? (spread + commission per round turn)

Quoting Alpha-Bet
What pair? What liquidity period?


MyFXBook has a great tool for monitoring spreads... For the longest while they didn't have the new Edge servers up to monitor, just the older servers, but I emailed them about it about a week ago and they added Edge.

I won't link directly to it since ForexFactory competes with them on a number of products, but here's an example snapshot of the past few hours of EURUSD:

http://i.imgur.com/pF9hA.png

"E"s on the chart are 'Economic Events'.. red line is highest spread, blue is average, and green is lowest.

One note about spreads: be careful here, when it comes to comparing the differences between in spreads between like brokers, execution quality and total cost matters more than 0.1 pips tighter spread. There's a hand full of brokers out there that play the spread game where they shift the spread to additional commissions to rank higher on these kinds of comparisons while not really having a better total cost of trading.

(Not naming names, but there's a broker out there that's often 0.3 pips tighter than most other DMA brokers like Pepper, often resulting in inverted or 0 spreads, but their commissions are nearly exactly $3 more per RLT than the average DMA broker.. all they've done is shift the cost from spread to commissions so they can claim they have the best spreads.)

Hope that helps

(the things I do on my lunch hour.. heh)
FXGears.com
  • #1,366
  • Edited 2:17pm Nov 8, 2012 2:05pm | Edited 2:17pm
If you are using Razor Edge you wll need to add slippage for approx 50% of your trades also. On average 0.00005 which is minimal but part of the ECN workings to get your order filled sometimes.

This can be included under alphabets comment 'what liquidity period'
My comments are not to be taken as trading advice, not a financial advisor
  • #1,367
  • Nov 8, 2012 4:25pm Nov 8, 2012 4:25pm
Quoting Jack_Larkin
Standard has a 1 pip markup from the raw feed (Razor) but no commissions.

So the difference is exactly 1 pip wider spread, same way the old (non-Edge) spreads worked between Razor and Standard.
Hello Jack,

I've been following your thread "So you wanna become a Professional trader" and I'm on page 23 at the moment.

I'm also interested in moving my account to Pepperstone cos I have a few issues like execution speed, high spreads, and delays in getting you out of winning as well as loosing trades.

Today I followed my systems rules took a trade on M5 timeframe and moved to BE after 8 pips and waited till I was in credit of 24 pips to lock in some profit above the 5 day ADR target.
To my consternation price came back missed my SL by 1.6 pips but my trade was closed out.
I went to M1 to get a clearer view and found the high of the candle on the close of my trade did not get to my SL.

I wonder am I being played here, or will I be told it's the difference between bid and ask price? (their minimum spread for EURJPY is 1.9)
take a look at the screenshot. I'd get an email soon confirming the trade and i want to bring this up, what do you think?

Thanks for all your good work.

Intrepid
Attached Image (click to enlarge)
Click to Enlarge Name: [EURJPY,M1]_2012-11-08_21-34-50_WHY.png Size: 73 KB
Let it turn and find your entry.
  • #1,368
  • Nov 8, 2012 4:43pm Nov 8, 2012 4:43pm
Quoting Intrepidpips
Hello Jack,

I've been following your thread "So you wanna become a Professional trader" and I'm on page 23 at the moment.

I'm also interested in moving my account to Pepperstone cos I have a few issues like execution speed, high spreads, and delays in getting you out of winning as well as loosing trades.

Today I followed my systems rules took a trade on M5 timeframe and moved to BE after 8 pips and waited till I was in credit of 24 pips to lock in some profit above the 5 day ADR target.
To my consternation price came back missed my...
Thanks for the comments on my thread.

I'm assuming this is something you noticed from you current broker, not pepper, right? If I read your post correctly that is. I may not have experience trading with which ever broker you're using so I can't really comment on their credibility, but I might still be able to help:

From the looks of your post, I think I have an idea of what's tripping you up. I see this mistake being made all the time, as it can be confusing at first glance.. but when you are short, to close the trade you must buy the pair back (since shorting is selling first, then buying to close.) And when you 'buy', you're buying from the 'ask' quote, not the 'bid'.

If you set a stop order on a short position, it will trigger if the 'ask' price reaches the stop level. Now, the confusing part is that MT4 paints charts only from the bid quote, so visually it looks a bit off since the trade was triggered from the 'ask' quote. The difference between the two quotes, of course, is the spread. It's important to keep track of since spreads can widen during news releases, or during the NYC close and rollover.. I have no clue what timezone your MT4 is in since that would be dependent on your broker, so I can't tell if that would have affected the trade you posted.

I hope that helps, or at least gets you in the right direction.
FXGears.com
  • #1,369
  • Nov 8, 2012 4:49pm Nov 8, 2012 4:49pm
Quoting cogs
If you are using Razor Edge you wll need to add slippage for approx 50% of your trades also. On average 0.00005 which is minimal but part of the ECN workings to get your order filled sometimes.

This can be included under alphabets comment 'what liquidity period'
Of course, gotta factor in average slippage for any broker.. a fact of life in the forex world. Hence me saying 'execution quality' in that previous post.
FXGears.com
  • #1,370
  • Nov 8, 2012 6:56pm Nov 8, 2012 6:56pm
Quoting Jack_Larkin
Of course, gotta factor in average slippage for any broker.. a fact of life in the forex world. Hence me saying 'execution quality' in that previous post.
don't you get slipped both ways, though? if so it should all wash-out in the end and just generate a bit more noise to any stats derived from past trades. or do you only get bad slips?
Congratulations ScalaFX for coming out of the closet!
  • #1,371
  • Nov 8, 2012 8:21pm Nov 8, 2012 8:21pm
My slips are mostly short positions, you can see the jump once the order is filled, and bad slips but not for my trading style. I accept this as ok, to get my order filled by an institution, as apposed to a MM fill which could be instant with variable slippage and not always in my best interest.

Jack_Larkin,
Do you have to reply to every pepperstone post? Are you on the payroll?
It's not a fact of life in forex world. A MM can fill your order with no slippage, if they choose, and 'execution quality' is a very broad comment, that's why I added another point for centralbee to add to his costs on his original question.

Intrepidpips
What most relatively new comers may not realise is you may experience what you did with any broker, and is mostly not broker related. Handling of this orders is now mostly handed over to the banking institutions who have much larger budgets to do whatever they like with prices. If there is no news around they can come up to a whisker away from your order and reverse. You mainly need to learn the games and how then to profit from it.
My comments are not to be taken as trading advice, not a financial advisor
  • #1,372
  • Nov 8, 2012 8:37pm Nov 8, 2012 8:37pm
Ouch dude, I'm just trying to be helpful... I get the odd bit of extra info from pepper, and I like helping and sharing with the community here. :/

I haven't traded with many MM type brokers outside of Oanda (in the pure-MM sense,) and even they have slippage. You're right to include it as a total cost of trading, I wasn't suggesting otherwise... Yes, execution quality is a broad statement, I should have been more clear.
FXGears.com
  • #1,373
  • Nov 9, 2012 12:04am Nov 9, 2012 12:04am
No probs, I feel clarity is crucial, otherwise new comers (or even partially experienced traders) just get raped by the system which is an armoury of tools to clean them out.
My comments are not to be taken as trading advice, not a financial advisor
  • #1,374
  • Edited Nov 10, 2012 4:36am Nov 9, 2012 8:08am | Edited Nov 10, 2012 4:36am
Quoting cogs
Jack_Larkin,
Do you have to reply to every pepperstone post? Are you on the payroll?
It's not a fact of life in forex world. A MM can fill your order with no slippage, if they choose, and 'execution quality' is a very broad comment, that's why I added another point for centralbee to add to his costs on his original question.
Lol Cogs, someone skiped breakfast.. Jack is only trying to help, it keeps him busy and he does it quite well. Plus, most of this and some other stuff he posts is over most of our heads anyways…

Remember this: http://www.forexfactory.com/showthre...81#post5997981 #1116 Yeah…

I do agree clarity is crucial, but at some point… Think Jack does not want to confuse new comers/newbies even more than they are when they start or are looking for a broker.

As for being on the payroll, well, I think a lot of us here have been caught cheerleading for Pepper and trying to help more than once. Jack just really, really likes to help, lol. (Out of his own free time.)

I hope he continues on doing it. I sometimes learn new stuff when he does. And his explanations a very clear and thorough. Pretty sure a lot of people here appreciate it as well.

Anywhoo,
Fuck Forex Factory.Wake up people.
  • #1,375
  • Edited 2:06pm Nov 9, 2012 8:10am | Edited 2:06pm
All right, my issue with the standard account seems resolved…

I must say, Martin/Pepper really went all out to resolve my issue. At first he “sorta” brushed me off, or gave me canned answers. But i can image how many complaints he might be getting and needs to filter out the non-founded ones.

So, I came back at him with more proof and a truckload of screenshots. He then took it more seriously, and started investigating the matter further. So, we have been back and forth at it for about three weeks now.

Last week Martin came back with this:
Quote
I have had the engineers continue to look into this, they want to eliminate the latency theory - We have also put your account on another server node that is used for our FIX API Institutional Accounts - This may result in a bit of a speed boost as data packets hit their first on the way into the network.

So, far my trade executions/results have been almost flawless. Except for Wednesday… Not sure what happened there. All in all, I am much happier, as things seem to be heading back to normal. I had long execution times on the institutional account server experiences at times (not many, like 3). I may have found the culprit, that part might be on my end. Will test more next week.

Just thought I would share this.

Will see if this keeps up, and I will gladly call myself very happy with Pepperstone again and restart my cheerleading . And, I will take back my comment about the CEO being ugly, lol. He’s not that bad looking.

They seem genuinely inclined to try and resolve issues which is nice to see from a broker.


P.S. Three weeks may seem long. But I am not the only one he is dealing with. I can appreciate that fact. As i said before, if it where any other broker I would have never bothered going through this… And would of happily been on my way…

Thks, Martin. Have a great one!

Enjoy your weekend all! I know I will.
Fuck Forex Factory.Wake up people.
  • #1,376
  • Nov 9, 2012 2:31pm Nov 9, 2012 2:31pm
Hi ramy3

Quote
I do agree clarity is crucial, but at some point… Think Jack does not want to confuse new comers/newbies even more than they are when they start or are looking for a broker.

As for being on the payroll, well, I think a lot of us here have been caught cheerleading for Pepper and trying to help more than once. Jack just really, really likes to help, lol. (Out of his own free time.)
I really don't mean this to appear like a personal attack as he/she sounds like a great person and does a lot of work to help others around the forum, but, do you know Jack personally?

Is it his own free time?

If it is his own free time, as I mentioned to him in a PM, he could get caught up in a legal battle if he is not verbatim, and even that may get him/her in trouble legally if he/she does not work for the company. However if he is on the payroll he should be honest with the people.

Personally I think he/she does a great job and has saved me some extra searching from time to time, but I do not need correcting when adding some free tips for newbies to save them from getting their a$$ ripped off. There is very little honesty in FX and finding pepper was a break through for me.

Jack you do a great job, and probably do the best PR for a company (if it is the case) as a non employee, someone could do. I would like to see pepper management make a comment to support Jack so he/she can continue advising without any legal implication. Even pepper management are welcome to PM me if they like and I can share their support.
My comments are not to be taken as trading advice, not a financial advisor
  • #1,377
  • Nov 9, 2012 2:46pm Nov 9, 2012 2:46pm
Quoting cogs
Hi ramy3


I really don't mean this to appear like a personal attack as he/she sounds like a great person and does a lot of work to help others around the forum, but, do you know Jack personally?

Is it his own free time?
As I've mentioned in this thread before, I'm a trader, my employer is a small private equities firm in Toronto, and I'm not an employee on Pepper's payroll.

It is on my own free time.. I actually use posting on these boards as an excuse to distract myself from the market when I shouldn't be in a trade. I have a bad habit of looking for trades when there's no edge to be found, so I keep an assortment of distractions around my desk to keep me occupied when the market isn't giving me any clear signals (few books, browsing the web, etc..)

I also PM'd you a bit more details..

Not for nothing, but I find such allegations to make me quite disinterested in helping people here. I gain very little from it outside of the good feeling that comes from being helpful. Heck, look at the material I've written in my threads (see signature) on this forum, I spent hours writing up my thoughts and experiences for the good of this community and asked nothing for it in return. I just hoped people might find it useful. The many pages of people posting thank you notes has made it quite worthwhile for me.

Anyway, I don't want to dwell on this. The comment just irks me since it undermines why I enjoy interacting with this community.
FXGears.com
  • #1,378
  • Nov 9, 2012 3:13pm Nov 9, 2012 3:13pm
All my support for Jack¡ thanks dude¡
  • #1,379
  • Nov 9, 2012 11:26pm Nov 9, 2012 11:26pm
Quoting cocov
All my support for Jack¡ thanks dude¡
Me too. Jack has helped with questions I've had about Pepper even if I haven't asked for them. I don't know Jack, but from what I have seen, he's totally honest.
FF journal: Peaks and Troffs
  • #1,380
  • Nov 10, 2012 3:42am Nov 10, 2012 3:42am
Quoting Jack_Larkin
Thanks for the comments on my thread.

I'm assuming this is something you noticed from you current broker, not pepper, right? If I read your post correctly that is. I may not have experience trading with which ever broker you're using so I can't really comment on their credibility, but I might still be able to help:

From the looks of your post, I think I have an idea of what's tripping you up. I see this mistake being made all the time, as it can be confusing at first glance.. but when you are short, to close the trade you must buy the...

Thanks Jack.

I checked again and the candle High was actually 2.1 pips away so that may be the difference between bid and ask. I guess my trail was just too tight in fact my trail SL was hit and exceeded on my trade of Friday (Missed my TP of 80 pips and left with only 32 pips) so I have to refine my trade management while still with this broker.

I have a long way to go but hopefully with the FREE help of kind minded individuals like you the journey will not be too long.

You are appreciated!

Intrepid.
Let it turn and find your entry.
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