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Even if they were true ECN with Mt4 it would only solve half our problem - that is to say that they DO NOT take the opposite of our trades. ...So we win they win, especially with large numbers of scalp type trades, as they still get the spread.
The other half of problem would be very good spread - even if you had to pay a trade fee per round trip or whatever, as long as you had a profitable EA.
Could a new breed of "mammal" broker be around the corner replacing "dinosaur" broker? Meaning a broker that caters to winning clients And makes money, both these parties having the same interests? MAKE THE MONEY, but don't get too greedy like the dinosaurs.
...Ok maybe I should get back to reality! ...Unless of course they ARE for real!!!
My logic may be way off, in which case I look forward to more information.
May the pips roll in for all!
Last edited by newtrader100; 12-22-2008 at 04:48 AM.
I had a trade tonight, finally the spread on my broker is low enough but as of now I am loosing on that trade. I wont say who my broker is but the spread is now at 4 pips. There are still honest brokers out there. Lets see if this holds up tomorrow also
And then you'll let us know tomorrow who the broker is?
Well what the hell, they say they welcome scalping and ea's any way and they only make money off the spread. The broker is FXPro so far I am happy with them in deposits, widthdrawls and spreads. Right now FXDD has a spread of 7 on EUR/GBP and they havve it at 4. Another trade just placed, seems like we are back in the game.
Yes, post #497 has some parameters for fxpro. I have acc. with IBFX and would be nice to have it work with them, but so far it had maybe one positive trade with them during the recommended hrs.
Maybe just paranoid, but if enough of us win with one specific broker, and that broker takes the opposite of our trades, we can bet something will be done one way or another. The only dealers in my not quite well versed opinion that would welcome a truly profitable ea - no matter what they "say" when you first open acc. - would be an ecn with mt4 straight through processing. Not "fake" stp.
I could be wrong though. It would be very nice if I was wrong!
Edit: My conversation with fxpro live support;
Thank you for contacting FxPro Live-support.
You are now chatting with 'Jakub', May i have your FxPro account number please?
you: hi, and happy holidays. do you take the opposite position of my trades, or are you an ecn with mt4 platform?
Jakub: Please refer to our CFDs terms and conditions & Order Execution policy. This clearly states that for the purposes of orders for the financial instrument of Contracts for Differences, the Company acts as principal and not as agent on the Client’s behalf and therefore the company is always the counterparty (or principle) to every trade. We are an Over-The-Counter broker
you: thanks very much. if I trade with an overwhelmingly successful expert adviser will my account be shut down?
you: (a scalping ea)
Jakub: we allow to use EAs
Jakub: yes these as well
Jakub: You may use Expert Advisor however as listed in our trading conditions:
Jakub: Trading operations using additional functions of the client trading terminal such as Trailing Stop or Expert Adviser are executed completely under the Client’s responsibility, as they depend directly on the client trading terminal and the Company bears no responsibility whatsoever.
you: good news, since recently some brokers are not happy with extremely successful scalping ea's and are playing games and or shutting down highly profitable accounts
you: what are your spreads on eur/gbp?
Jakub: 4 pips at the moment
you: and during the hrs of 20 - 4 gmt in usual?
Jakub: never more then 5 pips
you: thank you so much and happy holidays
Jakub: the same to you
Last edited by newtrader100; 12-22-2008 at 04:24 AM.
Yes, post #497 has some parameters for fxpro. I have acc. with IBFX and would be nice to have it work with them, but so far it had maybe one positive trade with them during the recommended hrs.
Maybe just paranoid, but if enough of us win with one specific broker, and that broker takes the opposite of our trades, we can bet something will be done one way or another. The only dealers in my not quite well versed opinion that would welcome a truly profitable ea - no matter what they "say" when you first open acc. - would be an ecn with mt4 straight through processing. Not "fake" stp.
I could be wrong though. It would be very nice if I was wrong!
Edit: My conversation with fxpro live support;
Thank you for contacting FxPro Live-support.
You are now chatting with 'Jakub', May i have your FxPro account number please?
you: hi, and happy holidays. do you take the opposite position of my trades, or are you an ecn with mt4 platform?
Jakub: Please refer to our CFDs terms and conditions & Order Execution policy. This clearly states that for the purposes of orders for the financial instrument of Contracts for Differences, the Company acts as principal and not as agent on the Client’s behalf and therefore the company is always the counterparty (or principle) to every trade. We are an Over-The-Counter broker
you: thanks very much. if I trade with an overwhelmingly successful expert adviser will my account be shut down?
you: (a scalping ea)
Jakub: we allow to use EAs
Jakub: yes these as well
Jakub: You may use Expert Advisor however as listed in our trading conditions:
Jakub: Trading operations using additional functions of the client trading terminal such as Trailing Stop or Expert Adviser are executed completely under the Client’s responsibility, as they depend directly on the client trading terminal and the Company bears no responsibility whatsoever.
you: good news, since recently some brokers are not happy with extremely successful scalping ea's and are playing games and or shutting down highly profitable accounts
you: what are your spreads on eur/gbp?
Jakub: 4 pips at the moment
you: and during the hrs of 20 - 4 gmt in usual?
Jakub: never more then 5 pips
you: thank you so much and happy holidays
Jakub: the same to you
This conversation is very honest and atractive. Is somboby had bad experience with PXPRO ??
ATC Brokers use hotspotfx.com feed. I tried it and spread is higher than 50 pips sometimes but mostly lower but still too high for a true ECN. I contacted them a few months ago and they said to me that hotspotfx will have more competitive prices as they deal with more banks. Open an account with them if you think they are good. I want better prices though. Spread is usually higher during or near news releases as well so be sure to check this first! Phone ATC or hotspot up they are friendly to talk to.
It just hit me just now that ATC is probably introducing broker for hotspot, in which case their "stp" may not really be the real deal.
Why is finding a good broker so damn hard?!!!
I'm not really in the mood to go through all the BS some of the poor souls on this forum have gone through with their broker after being profitable!
.........Man, I need some
Oh and good question crossy, as I believe fxpro are most certainly a "dealer". Only time will tell how they "deal" with highly profitable and synchronized scalp trades coming at them from all over the place. LOL
Last edited by newtrader100; 12-22-2008 at 05:25 AM.
This conversation is very honest and atractive. Is somboby had bad experience with PXPRO ??
Just to add to the conversation but the spread is now 3 Pips as I type.
I may just move the other half of my investments from FXDD to FXPro after all. I will see when FXDD will come back in line as the news period is disiminated from the Fed announcment last week.
Anyone else have really bad results today?? Perhaps it's just a bad day to trade. Attached are the results from testing this on prime4x today with high lot settings. Back testing managed to turn a 10k account from $10,000 to $138,000 from 12/1/2008 - 12/18/2008, but today confirms it lost BIGTIME.
Note: Only pay attention to the results from today 12/22. The results prior to that are from testing a grid EA of my own using 3 different settings, not LuckyEA. One of them looks promising, I turned 10k into $56,000 in 8 hours before then regrettably testing other settings and losing $25,000 of the profits.
Anyone else have really bad results today?? Perhaps it's just a bad day to trade. Attached are the results from testing this on prime4x today with high lot settings. Back testing managed to turn a 10k account from $10,000 to $138,000 from 12/1/2008 - 12/18/2008, but today confirms it lost BIGTIME.
Note: Only pay attention to the results from today 12/22. The results prior to that are from testing a grid EA of my own using 3 different settings, not LuckyEA. One of them looks promising, I turned 10k into $56,000 in 8 hours before then regrettably testing other settings and losing $25,000 of the profits.
Lets see if this holds up tomorrow also
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