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2 April 2009 - Monetary policy decisions
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions:
The interest rate on the main refinancing operations of the Eurosystem will be decreased by 25 basis points to 1.25%, starting from the operation to be settled on 8 April 2009.
The interest rate on the marginal lending facility will be decreased by 25 basis points to 2.25%, with effect from 8 April 2009.
The interest rate on the deposit facility will be decreased by 25 basis points to 0.25%, with effect from 8 April 2009.
The President of the ECB will comment on the considerations underlying these decisions at a press conference starting at 2.30 p.m. CET today.
European Central Bank
Directorate Communications
Press and Information Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: +49 69 1344 7455, Fax: +49 69 1344 7404
Internet: ECB: European Central Bank home page
Reproduction is permitted provided that the source is acknowledged.
It points out that there are so many traders using scalpers like Lucky that they are defeating themselves. I find that hard to believe, because I thought that the FX market was very liquid, but the experience of the ATC ECN seems to argue against that. Apparantly the banks in the ATC ECN all close on EST, so the ECN Prime must get fills from outside the ECN. This could be worse than a dealing desk.
No demo account will show this problem. It results in delayed fills, and fills OUTSIDE the slippage in the order. In other words, with this particular ECN, you have little control over your fill price, in a demo account the fill is ALWAYS in the slip... wonder what would happen if we could send limit orders instead of market orders...
Maybe I will just stick with EA's that follow your old friend, the tend.
ECNs East of London may have less problem, because the banks are open during Asian Hours...wonder if there is an Australian ECN that will accept US customers.
I think again the probleme is not only form Lucky.
Many other EA scalpers use EURGBP.
In my opinion Lucky on eurgbp must be a part of your automated trading.
If you want to be regular you must use other currencies crosses like EURAUD or EURCHF, with other scalpers in the same time.
Another way to think is scalpers during asian session and trend trading the rest of the day with other EAs.
On this you could use a money manager with equity protection EA.
I will not give any name of EAs, because the mix of EAs is like your trading methods: different from other people
Automated trading is not so easy than EA vendors say. You must tune and search all the time.
Demo's and live accounts.
Linear Mode
