An interview with highbury fx

This is a discussion on An interview with highbury fx within the Spread Betting & CFDs forums, part of the Commercial category; Originally Posted by kalott Those traders that are profitable over time are they (mostly) trading 1) stocks 2) stock indices ...

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Old Dec 13, 2016, 10:48am   #49
Joined Mar 2014
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Originally Posted by kalott View Post
Those traders that are profitable over time are they (mostly) trading

1) stocks
2) stock indices
3) commodites
4) forex
Hi Kalott

During 2016 our clients done best in Commodities, followed by Indices and then FX.
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Old Dec 13, 2016, 11:45am   #50
 
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Joined Jul 2008
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Originally Posted by highbury fx View Post
Hi Kalott

During 2016 our clients done best in Commodities, followed by Indices and then FX.
Interesting that that is practically the inverse order of spreads - traders seem attracted like moths to the candle to fx because of the spreads available.

In my opinion, more seasoned traders with deeper pockets tend to take longer term trades where spreads are wider (ie commodities), as spreads are not the main consideration for the attraction to the instrument.

PS thanks for all your input highburyfx - I've learned a lot about the business from the brokers end which helps my own perspective.
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Old Jan 19, 2017, 3:10pm   #51
Joined Jun 2009
Hi HighburyFX,

I trade with a Straight Through Processing broker using MT4 and experience a lot of 'off quotes' messages in the log when entering market orders and closing orders. Their Tech Support have told me this is caused by the Liquidity Provider not accepting my price.

Is this something to do with 'Last Look' by the LP?

Can you expand on what exactly 'Last Look' is all about?

Thanks
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Old Jan 19, 2017, 5:40pm   #52
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Hi HighburyFX,

I trade with a Straight Through Processing broker using MT4 and experience a lot of 'off quotes' messages in the log when entering market orders and closing orders. Their Tech Support have told me this is caused by the Liquidity Provider not accepting my price.

Is this something to do with 'Last Look' by the LP?

Can you expand on what exactly 'Last Look' is all about?

Thanks
Hi Leemo

STP (A book) brokers will hedge wherever the market is then add their minimum capture and fill their client.

B book brokers will approve trades that have moved from the execution price within a set tolerance. That tolerance is the difference between where the deal was trying to be done and where the price is now. You need to take a 'last look' at the live market to determine whether the trade can be executed within the permitted tolerance.

It sounds like you're doing a bit of scalping during big moves and failing the tolerance limits. Your STP broker will be able to explain to you what their tolerance is which will allow you to decide whether to accept it and stay or move to another STP broker and get all your deals done albeit at levels you may not be profitable at.
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Old Jan 19, 2017, 7:18pm   #53
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Originally Posted by highbury fx View Post
Hi Leemo

STP (A book) brokers will hedge wherever the market is then add their minimum capture and fill their client.

B book brokers will approve trades that have moved from the execution price within a set tolerance. That tolerance is the difference between where the deal was trying to be done and where the price is now. You need to take a 'last look' at the live market to determine whether the trade can be executed within the permitted tolerance.

It sounds like you're doing a bit of scalping during big moves and failing the tolerance limits. Your STP broker will be able to explain to you what their tolerance is which will allow you to decide whether to accept it and stay or move to another STP broker and get all your deals done albeit at levels you may not be profitable at.
I believe the tolerance you mentioned above is the 'deviation by default' on the MT4 platform. I have that set to a ridiculously high number so that my trades can be filled. I'm generally looking to make 30 points on dax cfd so not really scalping, by my definition. Still a lot of trades don't get filled. Very frustrating
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Old Feb 7, 2017, 2:21pm   #54
Joined Jun 2009
I now know why I had so many rejected orders.

http://www.zerohedge.com/news/2017-0...tly-banned-nfa
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Old Feb 8, 2017, 11:01am   #55
Joined Jun 2009
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Originally Posted by highbury fx View Post
Hi Leemo

STP (A book) brokers will hedge wherever the market is then add their minimum capture and fill their client.

B book brokers will approve trades that have moved from the execution price within a set tolerance. That tolerance is the difference between where the deal was trying to be done and where the price is now. You need to take a 'last look' at the live market to determine whether the trade can be executed within the permitted tolerance.

It sounds like you're doing a bit of scalping during big moves and failing the tolerance limits. Your STP broker will be able to explain to you what their tolerance is which will allow you to decide whether to accept it and stay or move to another STP broker and get all your deals done albeit at levels you may not be profitable at.
Seems like FXCM's definition of 'last look' is for the Liquidity Provider to determine whether the initial move is for or against them. If against, then don't allow the trade. FXCM will give this LP lots of business in return for kick backs.

This is an amazingly crooked business One way or another the broker takes the other side of the trade, whether DD or STP
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Old Feb 10, 2017, 1:29pm   #56
Joined Aug 2012
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Seems like FXCM's definition of 'last look' is for the Liquidity Provider to determine whether the initial move is for or against them. If against, then don't allow the trade. FXCM will give this LP lots of business in return for kick backs.

This is an amazingly crooked business One way or another the broker takes the other side of the trade, whether DD or STP
No wonder the share priced went down by more than 50% on 7/8 Feb!
So they mot only have pissed off the clients bu also investors!
and people are taking class action! Good on CFTC for taking such an action
Silver lining is they have not gone out of business and clients will have their money intact becasue with FXCM being an FCM there was no SIPC protection in USA !
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