Brokers trading against you?

[billyjean]

They are not ECN.
But if 97% of your trades went against you then it's not your broker's fault but your own... Broker is there to only give you the prices (and a lot has changed since this thread was started and some brokers always have fixed spreads).

97% trades againts ? means the accuracy are only at 3%.
most of traders would put the blame on broker side. any kind of strategies need to adapt to specific broker price enviroment. my strategies are require low spread, fast execution (ecn) broker. i've been forward tested few ecn low spread broker using my ea, sometimes it took 2-3 months to test, before got spesific ea setting suit their price enviroment. armada markets platform are the newest one, many said it will suit my needs. i would like to post my trading journal but seems trading journal section only contain manual trade result only, while mine are automatic type.

 

[Luc.Chase]

You could be right, but on the other hand everyone knows where the stops are likely to be anyway ( a bit beyound the last swing / pivot for example ). If you don't trust your broker, get another or better still get access to a separate tick-by-tick data feed ( even if it is delayed ), so you can compare.

 

[hatemypips]

You could be right, but on the other hand everyone knows where the stops are likely to be anyway ( a bit beyound the last swing / pivot for example ). If you don't trust your broker, get another or better still get access to a separate tick-by-tick data feed ( even if it is delayed ), so you can compare.

Stumping up for extra data feed?? Nah :whistling it is a waste of money, Fx is a decentralized market and quotes are different everywhere. Any arguments and proofs becomes assumptions there, it is up to your broker, does it want to make a long-term fair business or not...
My gold quotes on mercerfx has 4-10 pip difference with CNBC data. Don't know which is more accurate from them

 

[moka2]

Why for god sake people don;t understand that when you trade with a market maker broker for you to win he has to loose! simple logic

Now it is true that a market maker broker if he gets very big may not have to have that conflict of interest as he might be able to cross match trades between his millions of customers! and is happy making the commissions
BUT what if he does not?

Currency Futures are centralized exchange traded instruments.. may be they are an alternative to OTC FX!
The word OTC ( Over The counter) means Counter party risk.. read again "Counter party risk"

 

[billyjean]

Why for god sake people don;t understand that when you trade with a market maker broker for you to win he has to loose! simple logic

Now it is true that a market maker broker if he gets very big may not have to have that conflict of interest as he might be able to cross match trades between his millions of customers! and is happy making the commissions
BUT what if he does not?

Currency Futures are centralized exchange traded instruments.. may be they are an alternative to OTC FX!
The word OTC ( Over The counter) means Counter party risk.. read again "Counter party risk"

yeah I've got the message, nailed! hope the others too.
why dont people sees it's a company, and company do business, and any business aim for profit. while the daily turn over getting bigger each year, it's truly a pledge field to start a brokerage business. low spread, commision based, slippage, etc, traders should overcome thru this and adapt.
if traders keep search for a 100% honest broker company, they will end up on demo trading forever, afraid of risk.

 

[AndiSuk79]

I think many people don't understand this fully, even if regulated, regulation is focus on how money is handled and not about execution quality or type...

 

[gerryg]

Why for god sake people don;t understand that when you trade with a market maker broker for you to win he has to loose! simple logic

Well this idea is totally wrong, cuz if it was true then this fraud won't last 20+ years..
Bunches of brokers, transactions totaled in bln. bucks and everything is for the sake to play against your mediator? What a nonsense...

I don't say its free of scam, and you don't need to make research, compare etc., but setting and firmly believing in that solid affirmation won't let you go out from demo for sure..

 

[moka2]

Well this idea is totally wrong, cuz if it was true then this fraud won't last 20+ years..
Bunches of brokers, transactions totaled in bln. bucks and everything is for the sake to play against your mediator? What a nonsense...

I don't say its free of scam, and you don't need to make research, compare etc., but setting and firmly believing in that solid affirmation won't let you go out from demo for sure..

Market making model of business in FX business in itself is not a scam
Many MM brokers first wil try and match between 2 clients and thus behave like a true exchange but what if they can't match then they take on the counter-party side.. and that is where conflict of interest rises.. simple logic .

 

[gerryg]

Market making model of business in FX business in itself is not a scam
Many MM brokers first wil try and match between 2 clients and thus behave like a true exchange but what if they can't match then they take on the counter-party side.. and that is where conflict of interest rises.. simple logic .

Yeah but we can't do anything with that. The only way we can go is the road of trials and errors.