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Ask Me Anything!

  • #61
  • Aug 17, 2013 9:03pm Aug 17, 2013 9:03pm
Quoting Gon
Hi there. I am a real newbie and have been trading crude oil for about a month using pending orders to put in my trades. Today I put a buy stop order at 105.70 and the trade was executed at 105.66. I contacted my broker and he said that the trade is executed when the ask price hits the price, but I have not noticed this before. Is this true or has my broker scammed me? Any reply will be greatly appreciated. Thanks, Gon
It is called the broker spread. Depending on how you display your broker's price feed, you can see the difference between bid and ask. When you are really serious about trading you will look for a broker that has the lowest value. I do not trade crude oil, so I do not know if 4 is good or not. However, it does not sound like you are being scammed.

No offense, but if you are this new, I hope it is a demo trade, or paper trade. You should be sure you understand your broker platform and the market you are trading before risking any real money.
You cannot be extraordinary by being normal
  • #62
  • Aug 18, 2013 1:35am Aug 18, 2013 1:35am
Quoting Gon
Hi there. I am a real newbie and have been trading crude oil for about a month using pending orders to put in my trades. Today I put a buy stop order at 105.70 and the trade was executed at 105.66. I contacted my broker and he said that the trade is executed when the ask price hits the price, but I have not noticed this before. Is this true or has my broker scammed me? Any reply will be greatly appreciated. Thanks, Gon
4 spread on crude is fine but as we don't know what your chart is showing we don't know if it is a 4 spread.....

If you are using MT then it will be showing bid prices, yo sell at bid prices (ie: the chart level) but buy at bid + plus spread.

If you are using a different platform, IG for instance then you maybe seeing mid-prices ie: the mid-point between the bid and the ask, in which case the spread maybe 8 not 4.
  • #63
  • Last Post: Aug 18, 2013 6:11pm Aug 18, 2013 6:11pm
First post, total noob.

I noticed that some pairs can seem "out of synch" when observed as groups.
Example as of this post:
GBP/CAD 1.614xx
GBP/USD 1.562xx
USD/CAD 1.033xx

since there is only a 33 pip difference between the USD/CAD shouldn't the price of the GBP/CAD be only 1.595xx?

in a real world scenario where one wanted to buy GBP with Canadian dollars, would it not be more economical for the canuck to first buy USD and then use the USD to buy GBP?

Is there a term for this?

I'm just a beginner and very grateful that there are experienced traders scattered around these forums willing to share their insight. Cheers

is this a good indi that one of the three pairs is over/under valued?
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