I did have a look at Gekko. Yes it is free, but so far away from the current market level, that it is in fact quite useless.
Umbrella
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What did you mean by 'so far away from current market level'? Were you referring to S&L or Gekko?
B
Black Swan
are the spreads so wide that it's of no consequence? You can pay 2 pip spread + 3 pip G.S. for EURO/USD on IG, quick look suggests the no cost stops you mention can equal 6 pip cost (cost of spread 6 pip)... 
GammaJammer
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Just bear in mind the adage that there's no such thing as a free lunch.
At the end of the day your broker / ecn or whoever you use is providing a service. They're not running a charity so somehow, womewhere they're gonna want to get paid for providing this service.
So just ask yourself when you use this service - how / where are they getting paid.
Them getting paid isn't a bad thing, as long as you understand the dynamics of how this works.
GJ
At the end of the day your broker / ecn or whoever you use is providing a service. They're not running a charity so somehow, womewhere they're gonna want to get paid for providing this service.
So just ask yourself when you use this service - how / where are they getting paid.
Them getting paid isn't a bad thing, as long as you understand the dynamics of how this works.
GJ
What I meant is, that the guaranteed stop loss is so far from your entry level, that will not make it a practical guaranteed stop loss.
I agree, that is why I think it is better to pay an extra fee if one need this kind of service.
GammaJammer
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How far we talking - in eurusd, say. 50? 100? 200 points?
At first I did only check it for the indices. I don't trade Forex, but the guaranteed stop loss seems to be much better on the currencies.
For the EUR/USD, GSMS $36.91 (minimum bet size $0.40). For the Dow rolling daily, GSMS $110 (minimum bet size $0.24). If anyone else is trading with ggmarkets please check it up.
Umbrella
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I have a feeling that you are mistaken with their auto-stops. I am able to move them as close to market as I can. have you tried moving your auto-stop once a position is opened?
brasil2000
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This is taken from their website:
We offer guaranteed auto-stop losses on many of our markets. These guaranteed stops are absolutely free and protect against an adverse movement in the underlying market by closing out your open trade at precisely the level that you specify. The GSMS value represents the maximum trade size that is eligible for guarantee.
For example, a GSMS value of 50 means that we will guarantee every auto-stop below (and including) a trade size of 50. Any auto-stops that have a trade size greater than 50 would not be eligible for a guarantee and would be treated as non-guaranteed (subject to slippage)
After you place your trade you can move your stop. I have a live account
Umbrella
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Thanks for that info Brasil; very useful to know.
Yes it seems like I have misunderstood their guaranteed stop loss offer. I Will look over it again and see if I can get it right this time.
Have you noticed any different on how close you can have your stop, have this changed after the introduction of the guaranteed stop loss? I also have a live account but are not planing to trade with them today.
Jack Hughes
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A guaranteed stop that you can place as close as you want? Surely any SB outfit would potentially make spectacular losses on news spikes? Sounds too good to be true, especially from Gekko.
brasil2000
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:
You beat me to it, they will change their rule,as they alway do. They never think though their offers.
Jack Hughes
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:
You beat me to it, they will change their rule,as they alway do. They never think though their offers.
It's true: Gekko just use their customers for business and software development. Why hire staff when we're happy to do it at our own expense?
With all SB there are some kind of issues going on, none is perfect. This has to do with the fact they are market makers. I have been trading with them for two years and know by experience they are quite good. In fact, I think they are among the top best of the SB companies.It's true: Gekko just use their customers for business and software development. Why hire staff when we're happy to do it at our own expense?
Jack Hughes
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Gekko give the impression that they try to do the right thing, but even when they get it wrong the response is a version of, 'bad luck'.
