Pepperstone Forex | Page 132 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Pepperstone AU accounts being moved to Pepperstone UK 0 replies

Pepperstone suspends Forex trading in the UK 6 replies

Pepperstone Live Server Reliability 53 replies

List pepperstone and icmarkets crashes here 3 replies

Chart comparison between Pepperstone Razor Vs Other ECN 17 replies

Attachments: Pepperstone Forex
Exit Attachments

Pepperstone Forex

  • #2,621
  • Jul 22, 2014 10:06pm Jul 22, 2014 10:06pm
Quoting now0pen
Thanks Jack--I had a feeling that I should place that buy stop a bit higher. {quote}
No worries.. that mix up (as well as the ASK price determining your P/L and stop triggers when short,) is probably the most common to make.

Unlike other markets, which have a time and sales feed (transaction feed) to paint charts (like stocks and futures), forex has to go by the quote price to paint the chart. Chart/software providers have to pick the bid or ask for this purpose, and MT4 (and other MetaQuotes software) goes by the BID price.
FXGears.com
  • #2,622
  • Jul 22, 2014 11:06pm Jul 22, 2014 11:06pm
I just got a reply from pepperstone support. It had something to do with the bid-ask spread on news, as Jack explained earlier.

Next time I'll be more careful.
"See the ball. Hit the ball."
  • #2,623
  • Jul 23, 2014 4:13am Jul 23, 2014 4:13am
You can show the ask line in MT4 - right-click on the chart and select "Properties", click on the "Common" tab, tick "Show Ask line"
  • #2,624
  • Jul 23, 2014 4:39am Jul 23, 2014 4:39am
Quoting TheMaxx
You can show the ask line in MT4 - right-click on the chart and select "Properties", click on the "Common" tab, tick "Show Ask line"
Sure, this is helpful. But it only shows it in realtime. You can't have the history of past ASK price in MT4.
  • #2,625
  • Jul 23, 2014 9:07am Jul 23, 2014 9:07am
Quoting Mevo
{quote} Sure, this is helpful. But it only shows it in realtime. You can't have the history of past ASK price in MT4.
That is true, but we could store such data.

Here is why I left Pepperstone.... That's the worst broker when news come up into market.
(As I mentinned,I pick up randomly a news... but in many cases, I have noticed how they were terrible)

http://crazytraderfx.blogspot.fr/201...x-brokers.html

Cheers
$10K Live Account... 3 months investor testing!
  • #2,626
  • Jul 27, 2014 2:03am Jul 27, 2014 2:03am
Is it safe to do EA trading on pepperstone Edge-04 live servers. I don't trade news especially however trades can come from EA depending on price action and also I try to limit market execution orders and have more pending limit orders through EA.

Will it work? , created a test a/c with small balance and started my ea on edge04 live server (7/25) & also if they see consistent winning each month will accounts be targeted when making larger profits. please advise.
Scoobi doobi doo
  • #2,627
  • Jul 27, 2014 2:14am Jul 27, 2014 2:14am
Well.. Pepper runs the agency model so the quote feed and execution you get should be the same no matter who you are.

But testing out execution with a small amount first is always a good way of going. If things work out well, add to the account and size up.
FXGears.com
  • #2,628
  • Jul 27, 2014 2:24am Jul 27, 2014 2:24am
Thanks Jack, I trade the commodity pair XAU USD at pepper with my EA on the test live a/c & at first sight spreads look decent + execution + no comm. charged.

Next concern would be their high slippage which I heard in various forums not sure if it affects XAU USD too.., have to wait n watch perhaps.

One more thing I observed is they allow till Max lot of 50 for XAU USD..
Scoobi doobi doo
  • #2,629
  • Jul 27, 2014 2:31am Jul 27, 2014 2:31am
Quoting Scoobidoobi
Thanks Jack, I trade the commodity pair XAU USD at pepper with my EA on the test live a/c & at first sight spreads look decent + execution + no comm. charged. Next concern would be their high slippage which I heard in various forums not sure if it affects XAU USD too.., have to wait n watch perhaps. One more thing I observed is they allow till Max lot of 50 for XAU USD..
I've heard of a few users from a while ago that were able to get an increase on the max lot size. They did it for fx pairs, not gold, but Pepper was able to bump it up for them if they needed it for a given EA. Of course, your mileage may very, but if you hit that limit, it doesn't hurt to ask.
FXGears.com
  • #2,630
  • Jul 27, 2014 2:39am Jul 27, 2014 2:39am
Alrighty Jack, sounds goody. Thanks for the quick response!
Scoobi doobi doo
  • #2,631
  • Jul 27, 2014 2:48am Jul 27, 2014 2:48am
No worries.. and nice looking EA Keep us posted on how well it's running with Pepper vs others.
FXGears.com
  • #2,632
  • Jul 27, 2014 3:03am Jul 27, 2014 3:03am
I am gonna open another live with pepper. with slightly higher balance arnd 2k and run till I detect any foul play. If none it will continue to do well. cheers Jack!
Scoobi doobi doo
  • #2,633
  • Jul 27, 2014 3:59am Jul 27, 2014 3:59am
Quoting Crazy-Trader
{quote} That is true, but we could store such data. Here is why I left Pepperstone.... That's the worst broker when news come up into market. (As I mentinned,I pick up randomly a news... but in many cases, I have noticed how they were terrible) http://crazytraderfx.blogspot.fr/201...x-brokers.html Cheers
I think Pepperstone isn't worse than the others. They don't control much, they pass all trades to liquidity providers, and seems it's these LPs that are generating spikes, spread widening and so on, not Pepperstone itself. Pepperstone doesn't even have any control on the swaps they charge, they are set by the LPs too as they told me (true or not, but it's not the first broker to tell me that)

As for the comparaison on your blog, it doesn't mean anything. The fact that you had an order on Pepperstone might have caused a higher spread widening, because the LPs knew your order was there and wanted to hit it. If you had your order on another broker, maybe spread would have widen less on Pepperstone and more on that other broker... seems horrible and unfair ? It is ! But it's just the reality unfortunately ; (
  • #2,634
  • Jul 27, 2014 4:32am Jul 27, 2014 4:32am
Quoting Mevo
{quote} I think Pepperstone isn't worse than the others. They don't control much, they pass all trades to liquidity providers, and seems it's these LPs that are generating spikes, spread widening and so on, not Pepperstone itself. Pepperstone doesn't even have any control on the swaps they charge, they are set by the LPs too as they told me (true or not, but it's not the first broker to tell me that) As for the comparaison on your blog, it doesn't mean anything. The fact that you had an order on Pepperstone might have caused a higher spread widening,...
I don't think that's the case.. LP's shouldn't see client orders like that on an account by account level.. the terms of service with Pepper has Pepper presenting themselves as the counterparty with LPs so all client orders just appear as Pepper's orders to the LPs and no individual info is passed on.

Further, a single news event's spreads is hardly a decent sample size if you're going to compare average spreads during news. I can cherry pick single data points all day long to make up a any picture I want, but without a clear and repeating pattern it's just noise. (To add, I can tell you that, in this very thread from over the last two years, there have been at least two instances where some of the brokers compared crazy-trader's list ended up having a much wider spread during news events...)

Regardless, crazy-trader said his bit, posted his blog (and got some hits to it no less,) and has stated he moved on to another broker. So there's little sense in hashing it out with him unless we want to give his blog more attention. (Just saying.)
FXGears.com
  • #2,635
  • Jul 27, 2014 5:35am Jul 27, 2014 5:35am
Quoting Jack_Larkin
{quote} I don't think that's the case.. LP's shouldn't see client orders like that on an account by account level.. the terms of service with Pepper has Pepper presenting themselves as the counterparty with LPs so all client orders just appear as Pepper's orders to the LPs and no individual info is passed on. Further, a single news event's spreads is hardly a decent sample size if you're going to compare average spreads during news. I can cherry pick single data points all day long to make up a any picture I want, but without a clear and repeating...
I agree with you. I didn't say LPs knew that the order was from him, just that they knew it was there. As a not that common pair, they might have wanted to hit that order, so they widened more the spread to be able to do that. If this order wasn't there, things may have been different. WHO placed the order is irrelevant.

Speaking about this may be useful to everybody, I'm not speaking of just crazy-trader specific story. (Just saying)
  • #2,636
  • Jul 27, 2014 5:38am Jul 27, 2014 5:38am
You're right, it's good for passers by to read this as well.
FXGears.com
  • #2,637
  • Jul 27, 2014 11:11am Jul 27, 2014 11:11am
Quoting Jack_Larkin
{quote} I don't think that's the case.. LP's shouldn't see client orders like that on an account by account level.. the terms of service with Pepper has Pepper presenting themselves as the counterparty with LPs so all client orders just appear as Pepper's orders to the LPs and no individual info is passed on. Further, a single news event's spreads is hardly a decent sample size if you're going to compare average spreads during news. I can cherry pick single data points all day long to make up a any picture I want, but without a clear and repeating...
Not sure to understand what you are saying about my blog but never mind. Here we talk about Pepper.

It's true that only 1 screen shot isn't enough to say average spread at news is awfull with this broker. I did compare it only once on my blog, as i said, this happened enough cases that I got fed up with Pepper so i decided to screenshot the next news. And guess what? Pepper was the worst again. That's it.

That's a joke to say that they widened spread just to hit my SL. A true ecn, in case they are ("just saying") doesn't care about your trades if they end up by SL or TP. Also, think how many orders they had at that time? why not +10 pips spread more to get a bunch of another 100 trades?

Ps: I will wait next big news and i will provide same analysis and we will see if Pepper is still the worst

If anyone would want to see his broker included, leave me a message.

Cheers
$10K Live Account... 3 months investor testing!
  • #2,638
  • Jul 27, 2014 12:14pm Jul 27, 2014 12:14pm
Crazytrader,

This week we have US GDP, NFP , FOMC , Spain GDP and other heavy weight data lined up, you can especially catch the spreads during US GDP and NFP to see how it fared at pepper. I heard they are making improvements with new Edge servers (1-6). Lets wait n watch!
Scoobi doobi doo
  • #2,639
  • Jul 27, 2014 12:34pm Jul 27, 2014 12:34pm
Good idea, I will do NFP for sure... it's an important news to look at.
$10K Live Account... 3 months investor testing!
  • #2,640
  • Aug 1, 2014 8:29am Aug 1, 2014 8:29am
Hi,

NFP 08/01/2014:

Spread crash test has been done for 6 brokers:

Blog updated:
http://crazytraderfx.blogspot.com/20...x-brokers.html

Why checking GBPNZD spread?
This is a volatile pair and the spread use to widen so much on high impact news so it's a good gauge to look at to compare brokers.

Now Imagine you go short on GPPNZD @ 1.9900 yesterday.
Bid just before the news = 1.9850
Just before the news, if you set up SL on breakeven with Pepperstone or IcMarket, even if market went down... your trades is out as the ASK will hit your SL

Why short GBPNZD yesterday?
http://www.forexfactory.com/showthre...60#post7644460

My point here isn't to say Pepperstone is the worst broker or whatever... simply that checking spread for News is an important critera while choosing a broker. Why?
=> So, this time, my trade is alive... and it makes a big difference: 0 pips to +135 pips (at current price level 1.9765)
$10K Live Account... 3 months investor testing!
3 traders viewing now