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  • #14,761
  • Dec 7, 2015 6:40pm Dec 7, 2015 6:40pm
Quoting Carllos
{quote} I think you cleared it very well! So, solutions to trade news should be: 1. Avoid ECN or not? 2. Certainly avoid MM.. who are they? 3. Find a broker with 10y+ business To trade it professionaly is it really necessary to have an account at a major broker, like LMAX, SaxoBank, where you need 10k to open account? Im trying to get things real clear on how serious traders can do this without getting wiped. Thanks for helping me here guys
You should not trade news, but wait until liquidity has returned.

There's a reason the spread increases: all large players remove all limit orders, so the orderbook is empty. That's the reason spread increases and bad fills...there's no one out there during the news release who's willing to take your trade. Big players don't gamble. So as yourself why would they provide liquidity during the news release.

Now I know the majority of traders probably don't believe me, and that's fine. If you do your research, and for example look at an orderbook for fx futures during the news release you'll know what I mean. Alternatively, watch the ES orderbook around NFP.

Cheers & I hope this clarifies a few things,

Snow
  • #14,762
  • Dec 8, 2015 12:56pm Dec 8, 2015 12:56pm
Quoting Kilian19
{quote} Excuse me but why do you accuse every company to be shady? Broker's business model is to give you access to a market. In order to do so you have to pay and this is usually done by increasing the spread.
Brokers business model is to get hold of your money and move onto the next sucker. I guess you never heard of A and B booking?!
"Is that a real ROLEX? Yes! Same, same but different!"
  • #14,763
  • Dec 8, 2015 1:00pm Dec 8, 2015 1:00pm
Quoting firesword
{quote} Brokers business model is to get hold of your money and move onto the next sucker. I guess you never heard of A and B booking?!

I have but what does this have to do with all of this? If brokers fill your order in the b book you usually get a better execution there is no drawback for you.
  • #14,764
  • Dec 9, 2015 3:42am Dec 9, 2015 3:42am
Hey! What do you think about NZD Official Cash Rate? Is it worth trading or is rate cut already included in price movement?
  • #14,765
  • Dec 9, 2015 9:45am Dec 9, 2015 9:45am
Brent crude oil inventories will become part of the 1st page news list next week
Invest in alarm clocks
  • #14,766
  • Dec 9, 2015 9:46am Dec 9, 2015 9:46am
Today I'm trading both NZD rate and AUD employment.

Direction: flipper
Invest in alarm clocks
  • #14,767
  • Dec 9, 2015 11:39am Dec 9, 2015 11:39am
Quoting Tony112
Today I'm trading both NZD rate and AUD employment. Direction: flipper
How did your coin decide?
  • #14,768
  • Dec 9, 2015 11:51am Dec 9, 2015 11:51am
My coin will say : eur/nzd and gbp/nzd long. Sl higher than 20 pips, because of the high spread.
There are many wise people, but only a few of them are rich.
  • #14,769
  • Dec 9, 2015 11:57am Dec 9, 2015 11:57am
Quoting Tony112
Brent crude oil inventories will become part of the 1st page news list next week
May I ask you how you trade the oil announcement? I tried to trade it before but the high spread + slippage at Oanda made it not profitable for me.

Oanda has slippage at their cfds.
  • #14,770
  • Dec 9, 2015 2:07pm Dec 9, 2015 2:07pm
Easy come, easy go.
There are many wise people, but only a few of them are rich.
  • #14,771
  • Dec 9, 2015 3:49pm Dec 9, 2015 3:49pm
Quoting Snowski
{quote} You should not trade news, but wait until liquidity has returned. There's a reason the spread increases: all large players remove all limit orders, so the orderbook is empty. That's the reason spread increases and bad fills...there's no one out there during the news release who's willing to take your trade. Big players don't gamble. So as yourself why would they provide liquidity during the news release. Now I know the majority of traders probably don't believe me, and that's fine. If you do your research, and for example look at an orderbook...
BAHAHA this is what you think because this is what a broker will tell you but 3 tril a day this is not true. This is so broker and market maker can protect themselves from losing money! They do it on purpose liquid or not. Same reason why you get slippage. You see my trade explorer where I made 13k? That only worked for a couple days until the broker applied slippage because I was scalping successfully in the seconds with perfect fills. When CHF happened out of the blue brokers didn't expand spreads until during the event, why this is why multiple companies went bankrupt, because they couldn't widen spreads and hedge fast enough because of such an unexpected made rush. Half of what you see is just bullshit. You cant predict where price is going, just try to follow it and hold on for dear life.
All posts are my personal opinion
  • #14,772
  • Dec 10, 2015 2:19pm Dec 10, 2015 2:19pm
Quoting Kilian19
{quote} May I ask you how you trade the oil announcement? I tried to trade it before but the high spread + slippage at Oanda made it not profitable for me. Oanda has slippage at their cfds.

Are you sure they slip on oil? Spead is low as well ... with Oanda? I've never seen slippage
Invest in alarm clocks
  • #14,773
  • Dec 10, 2015 2:20pm Dec 10, 2015 2:20pm
Quoting Jure86
{quote} How did your coin decide?

The NZD messed me up with whipsaws. That's why I don't like Statements, ... they create too much mixed up info and whipsaws... too much confusions.
Invest in alarm clocks
  • #14,774
  • Edited Dec 11, 2015 12:31am Dec 10, 2015 11:17pm | Edited Dec 11, 2015 12:31am
Quoting Kilian19
{quote} I have but what does this have to do with all of this? If brokers fill your order in the b book you usually get a better execution there is no drawback for you.
When you open an account with your new broker, he places you into B book (a loser book) where every trade you take, your "friendly" broker takes the other side of your trade. As long as you are in the b book you are considered a losing trader or break even trader at best.
So what is wrong with that you ask?! Weĺl nothing really except that a conflict of interest comes to mind.
You see, your friendly broker knows you are most likely going to lose all your money anyway, so he figures why not take it off your hands
rather then placing your trade into inter banking pool and lose it there which, by the way if you are trading less than 5 lots , no bank will take anyway.
Once you start making money he will than move you to A book and either follow your trades and place them into inter banking pool or just misquote your orders until you get pissed off so you close your account and go somewhere else. That , my friend is your "friendly " brokers game or a business model as you like to call it..
"Is that a real ROLEX? Yes! Same, same but different!"
  • #14,775
  • Dec 11, 2015 3:36am Dec 11, 2015 3:36am
Quoting Tony112
{quote} Are you sure they slip on oil? Spead is low as well ... with Oanda? I've never seen slippage
Tony, in your Oanda experience What is the maximum spread you noticed during nfp?
"Hoe ur pips mate?" fxcarllos
  • #14,776
  • Dec 11, 2015 4:19am Dec 11, 2015 4:19am
Quoting Tony112
{quote} Are you sure they slip on oil? Spead is low as well ... with Oanda? I've never seen slippage
I don't experience much slippage for forex pairs but I had bad experience in the past for cfds. Last time I tried to trade the oil release I got slipped 10 pips additional to my sl. I contacted the Oanda support about it but I only got the following reply.

"
Thank you for contacting Oanda.
All our CFDs Product prices including Texas Oil and Brent Crude Oil is provided by our liquidity providers.
Hence, each product is standalone and we are unable compare the liquidity for both products.
Slippage happen to all products including Natural Gas.
....
"
This happened multiple times but might be related to the fact that my sl distance was not optimized at that time. For me it happened that if my SL distance was too far the next available tick might be further away resulting in slippage.

"
Thank you for contacting OANDA.
The AUD/USD slippage on stop loss was not affected by the server issue earlier in the day.
Rather it occurred due to a price gap from our liquidity providers that jumped from 0.77377 to 0.77442. As your stop loss was set at 0.77378, it was triggered at the first available ask price 0.77442 when price crossed your stop loss level.
All order are triggered on a "market if touched" basis, thus are subject to price gapping or slippage as they are executed.
"

Anyways I will keep testing to trade the oil release but with just a fraction of the usual order size.
Attached Image (click to enlarge)
Click to Enlarge Name: Oil.png Size: 12 KB
  • #14,777
  • Dec 11, 2015 4:20pm Dec 11, 2015 4:20pm
Quoting Kilian19
{quote} I don't experience much slippage for forex pairs but I had bad experience in the past for cfds. Last time I tried to trade the oil release I got slipped 10 pips additional to my sl. I contacted the Oanda support about it but I only got the following reply. " Thank you for contacting Oanda. All our CFDs Product prices including Texas Oil and Brent Crude Oil is provided by our liquidity providers. Hence, each product is standalone and we are unable compare the liquidity for both products. Slippage happen to all products including Natural Gas....

Thanks for the info... If there is slippage it must be little. Oanda have bigger spreads during news but less slippage. Nothing is perfect
Invest in alarm clocks
  • #14,778
  • Dec 11, 2015 4:23pm Dec 11, 2015 4:23pm
Quoting Carllos
{quote} Tony, in your Oanda experience What is the maximum spread you noticed during nfp?

Depends what pair. USD/JPY 15 to 20 pips spread... I don't like pairs like GPB/CAD with 30 pips spread...

don't forget that by entering the market 1 min prior to news you pay half of the spread: USD/JPY 7.5 spread is not bad
Invest in alarm clocks
  • #14,779
  • Dec 11, 2015 7:13pm Dec 11, 2015 7:13pm
Quoting Tony112
{quote} Depends what pair. USD/JPY 15 to 20 pips spread... I don't like pairs like GPB/CAD with 30 pips spread... don't forget that by entering the market 1 min prior to news you pay half of the spread: USD/JPY 7.5 spread is not bad
Sorry if i dont understand but if you have a 20 pip SL, even with 7.5 pips spread before news, when news is out and spread widening to 30 pips you will get out of trade. right? And with slipagge your 20 pip SL is not even respected.. You have a big experience with this so you might point to the right direction. I know if i have a 1:6 R:R with a 20 SL: 120 TP iŽll be profitable in long term, the problem seems to be this 20 pip SL beeing respected..
"Hoe ur pips mate?" fxcarllos
  • #14,780
  • Dec 11, 2015 7:50pm Dec 11, 2015 7:50pm
Quoting Carllos
...
all information regarding spread is publicly available at the homepage
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