Broker with excellent executions: News trading with results | Forex Factory

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Broker with excellent executions: News trading with results

  • #1
  • First Post: Edited Dec 5, 2018 4:43am Aug 1, 2014 10:27am | Edited Dec 5, 2018 4:43am
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  • #2
  • Aug 2, 2014 6:37pm Aug 2, 2014 6:37pm
You should try LMAX, daniel2
When you lose, I'm the loudest who laugh at your face )
  • #3
  • Aug 2, 2014 7:18pm Aug 2, 2014 7:18pm
Lmax doesnt like news-traders. If you often try to trade right at the news spike with a news ea, they will ask you to leave, if one of their LPs complains. Point&Click or a few seconds after news is probably ok, but i would talk to them before you open an account. Saves everyone from wasting time.

P.S.: testing news execution with demo accounts is useless
  • #4
  • Aug 3, 2014 1:21am Aug 3, 2014 1:21am
Quoting Zelo
You should try LMAX, daniel2
Thank You Zelo,

they do not want news traders :-(
  • #5
  • Aug 3, 2014 1:22am Aug 3, 2014 1:22am
Quoting shrike
Lmax doesnt like news-traders. If you often try to trade right at the news spike with a news ea, they will ask you to leave, if one of their LPs complains. Point&Click or a few seconds after news is probably ok, but i would talk to them before you open an account. Saves everyone from wasting time. P.S.: testing news execution with demo accounts is useless

Hello shrike,

thank You for Your information.
On demo accounts testing myself, my system, etc.
Sure, I am trading live too.

But I am finding better broker.
  • #6
  • Aug 3, 2014 5:27am Aug 3, 2014 5:27am
Honestly Daniel2, your account statement does not mean its going to be long term profitable. It only shows you have a good trade setting of winning much more on a profit trade than losing on a loss trade (which is very the right way to do it). Your feedback regarding UBS, Goldman, etc. shows that you not a day job trader and you are not up to date regarding liquidity solutions. You can lend the ebook forex wars on amazon (dont have to buy it) to read about executions on news events and how a retailer with a small account can avoid getting ripped off. You will learn that a demo account and a live account dont have same executions on news events. So make sure you understand the construction of liquidity and execution before you bet real money on your news trading.
  • #7
  • Aug 3, 2014 6:36am Aug 3, 2014 6:36am
Quoting fxways
Honestly Daniel2, your account statement does not mean its going to be long term profitable. It only shows you have a good trade setting of winning much more on a profit trade than losing on a loss trade (which is very the right way to do it). Your feedback regarding UBS, Goldman, etc. shows that you not a day job trader and you are not up to date regarding liquidity solutions. You can lend the ebook forex wars on amazon (dont have to buy it) to read about executions on news events and how a retailer with a small account can avoid getting ripped...

Hello fxways,

thank You.
As I said to user shrike, I am trading on demo and live too.
I am only searching broker tips, not recommendations if it is News trading profitable, or not. I have enough experiences, do not worry, about me.

Book, as You mentioned "Forex wars" I do not know. If You have fxways any interesting part from this book to News trading, write it here.

Best regards and thank You
Daniel
  • #8
  • Aug 3, 2014 7:36am Aug 3, 2014 7:36am
Hi Daniel,

you can't compare demo accounts to live accounts as the underlying data is (very often) not the same.
On news trading you might be fine in your demo account but not get decent fills in live. Even quality
brokers reject or slip you like hell. In retail environments you are the last one to get the news data.
Pro's are paying to get a headstart & autoexec the events instead of manual execs.

You might be fine with Oanda and you'll have a bad time with Dukascopy, FXCM, FXPro, etc. If you are
doing size, get a PB setup with multibank liquidity instead of a retail broker. If your account is large
enough you might negotiate insti feeds with IB. If execution quality matters invest 30mins and read
the ebook... its an eye opener and explains many actions you've always wondered about.
  • #9
  • Aug 4, 2014 5:25pm Aug 4, 2014 5:25pm
Quoting fxways
Hi Daniel, you can't compare demo accounts to live accounts as the underlying data is (very often) not the same. On news trading you might be fine in your demo account but not get decent fills in live. Even quality brokers reject or slip you like hell.
It's important to keep in mind that the risk of slippage increases when trading during news events. That's the case in any market because prices change rapidly in these conditions and an order can only be filled at a price that's available in the market. With FXCM, however, slippage can be positive or negative. Below are execution stats on over 43 million trades executed through FXCM from August 2013 and January 2014:

  1. 73% of all orders had no slippage.
  2. 15% of all orders received positive slippage.
  3. 12% of all orders received negative slippage.
  4. Over 60% of all limit and limit entry orders received positive slippage.
  5. 53.32% of all stop and stop entry orders received negative slippage.

The complete report can be found here: http://www.fxcm.com/advantages/forex...0000000MusRAAS

Some important highlights include the following:

  1. Limit and limit entry orders are the most likely to receive positive slippage
  2. Stop and stop entry orders are the most likely to receive negative slippage
  3. The Maximum Deviation feature on our MT4 platform and the Market Range feature on Trading Station allow traders to minimize negative slippage while still enjoying the full benefits of positive slippage: http://www.fxcm.com/products/trading...0000000MusRAAS


Quoting fxways
you'll have a bad time with Dukascopy, FXCM, FXPro, etc. If you are doing size, get a PB setup with multibank liquidity instead of a retail broker. If your account is large enough you might negotiate insti feeds with IB. If execution quality matters invest 30mins and read the ebook... its an eye opener and explains many actions you've always wondered about.

While I can't speak for other brokers, there are no re-quotes at FXCM, even during news events. However, it's possible with FXCM for traders to limit their negative slippage on their accounts by using the Market Range feature I mentioned previously. For example, a trader can specify that they do not wish to be filled at a price more than 3 pips away from their order price. If the order is triggered during the news event and filling the order at the best available price in the market would result in more than 3 pips of negative slippage, the order will be cancelled to prevent excessive negative slippage. Note that this is not the same as a re-quote because the order was cancelled to prevent negative slippage. Orders can still be filled with any amount of positive slippage even when the Market Range feature is enabled.

By contrast, when some other brokers re-quote their clients, it's usually not in the clients' favor. For example, if a trader places a market order to buy with a dealing desk broker during a news event, then the trader may receive a re-quote to buy at a higher price if the market gaps up, but it's unlikely the trader will receive a re-quote to buy at a lower price if the market gaps down instead.
  • #10
  • Aug 5, 2014 3:51pm Aug 5, 2014 3:51pm
Quoting daniel2
Hello, I am trading two demo accounts. I need TRUE ECN broker with super fast excellent executions on news. I am thinking about 1) Velocity Trade FX: www.velocitytrade.com 2) LCG FX: www.lcgfx.com The best is ICAP EBS, Reuters, UBS, Goldman Sachs, Deutsche Bank, etc. But I have not million dollars for opening account. Any tips guys? Results with test various RRR, etc. from 15. 7. 2014 to 1. 8. 2014. {image}{image}

How much have you got to play with ?
  • #11
  • Aug 6, 2014 6:27am Aug 6, 2014 6:27am
It also depends on a liquidity provider, because it supplies price quotes. Got only 5 pips slippage trading during last USA CPI release (Hotforex broker). My fellows got 7 pips with Oanda and 8 pips with Swissquote during the same trading time. IMO, slippage in a 10 pip range can be considered as normal during high volatility trading.
  • #12
  • Aug 8, 2014 7:48am Aug 8, 2014 7:48am
Quoting Jason Rogers
{quote} It's important to keep in mind that the risk of slippage increases when trading during news events. That's the case in any market because prices change rapidly in these conditions and an order can only be filled at a price that's available in the market. With FXCM, however, slippage can be positive or negative. Below are execution stats on over 43 million trades executed through FXCM from August 2013 and January 2014: 73% of all orders had no slippage. 15% of all orders received positive slippage. 12% of all orders received negative slippage....

Hello Jason,

thank You very much.
I know about improvements on FXCM.
I see here, that You scripting possibilities via API.
Do not worry, FXCM is maybe in plan.

Thank You very much
Daniel
  • #13
  • Aug 8, 2014 4:02pm Aug 8, 2014 4:02pm
Quoting daniel2
I see here, that You scripting possibilities via API.
Hi Daniel,

That's right, FXCM offers ForexConnect API, Java API and FIX API. You can find more info on this at FxProgrammers.com
  • #14
  • Aug 9, 2014 2:46am Aug 9, 2014 2:46am
Quoting Jason Rogers
{quote} Hi Daniel, That's right, FXCM offers ForexConnect API, Java API and FIX API. You can find more info on this at FxProgrammers.com
Hello Jason,

Good to know! Thank You.

Daniel
  • #15
  • Aug 9, 2014 8:44am Aug 9, 2014 8:44am
Quoting lasty
{quote} How much have you got to play with ?
Hello lasty,

thank You.

I will send You this information via PM.

Best regards and greetings
Daniel
  • #16
  • Aug 9, 2014 5:24pm Aug 9, 2014 5:24pm
Quoting shrike
Lmax doesnt like news-traders. If you often try to trade right at the news spike with a news ea, they will ask you to leave, if one of their LPs complains. Point&Click or a few seconds after news is probably ok, but i would talk to them before you open an account. Saves everyone from wasting time. P.S.: testing news execution with demo accounts is useless
You're wrong about LMAX,i trade news with limit orders and i always get my orders filled.

I remember when ECB did the first rate cut few months ago,i had sell limit and was filled instantly even when price dropped 100+ pips after that
  • #17
  • Aug 10, 2014 1:36am Aug 10, 2014 1:36am
Quoting timos
{quote} You're wrong about LMAX,i trade news with limit orders and i always get my orders filled. I remember when ECB did the first rate cut few months ago,i had sell limit and was filled instantly even when price dropped 100+ pips after that
Hello Timos,

thank You for info!

- What sell / buy stop hits after reeleases? Good filling?
- Spread in news? Wide?
- They are respect set slippage?
- Do You use MT4/5?

Thank You and best regrads
Daniel
  • #18
  • Aug 10, 2014 4:38pm Aug 10, 2014 4:38pm
Quoting daniel2
{quote} Hello Timos, thank You for info! - What sell / buy stop hits after reeleases? Good filling? - Spread in news? Wide? - They are respect set slippage? - Do You use MT4/5? Thank You and best regrads Daniel
I get the best available price,usually i set max slippage 2-4 pips during the news.

Spreads are wide as you would expect,from 2 to 15 pips depend on what kind of news.

Every reputable broker will respect slippage.

MT4
  • #19
  • Last Post: Aug 10, 2014 5:24pm Aug 10, 2014 5:24pm
Quoting timos
{quote} You're wrong about LMAX,i trade news with limit orders and i always get my orders filled. I remember when ECB did the first rate cut few months ago,i had sell limit and was filled instantly even when price dropped 100+ pips after that
They may not have a problem with point&click traders, but they have asked people to quit their news trading activity. Although i believe that was automated. The CEO said as much in interviews. Personally i dont trade news, so its a moot point for me.
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