Recent content by highbury fx

years ago we quoted fx to 4 decimal places as was the convention. Since then Electronic trading and aggregation software has led to what we now call 'fractional pricing' which is where we quote some pairs to a fraction of a pip, ie, another decimal place. As far as I've always been aware a pip a...

They're trying to avoid your account going into negative. 2 reasons why they want to do that, 1. they don't want you as a bad debt or having to chase you to avoid you becoming a bad debt and 2. you may be dealing with a company that has a zero balance rule either imposed themselves or by their...

if you're on a variable spread product then the spread will move. the thing to remember is every 2 way rate has a price you can buy at (the offer) or a price you can sell at (the bid). if you are in a position where you are long you will have to exit on the sell side of the price and vice versa...

Hello The spread is made up of a price you can sell at and a price you can buy at. For example 1.2013 - 1.2015 (you sell at 1.2013 or you buy at 1.2015) Your order to close a long position will happen when the left hand side of the price (the bid) has reached your order level. This is because...

Hi Peakoil I'm not 100% certain this answer will help but it may shed some light on how Intertrader sets itself up. Intertrader used to be an IB to LCG back in the days when LCG used one of the early Ariel Communication platforms. Back then the Ariel platform placed an equity stop on all...

Hi I don't like commenting on other firms but the post you refer to is in the public domain so i'll try and answer without being overly critical on IG (cos I like them) I think its important to establish that you were talking to IG about crypto currencies which are different to synthetic...

we don't have 'different words' to describe our industry. A stop loss being filled automatically by a SB firms order management systems is not called a stop hunt by anyone. You may call it hosed, rinsed, up-the-creak, etc because that may be more aligned to your experiences as an unlucky trader...

it is the SB obligation to fill orders it has accepted. It is therefore not at the SB discretion whether he fills stop orders at all. It is also not at the SB discretion that people lose. You are assuming all Stop orders are losing trades, that simply is not correct.

I ignored this because it is nonsense. it doesn't make any sense. you may as well have said.. jfjsk sajdkasjf ashdklsaf akdjsaksjdfklsa ;KHDA sajdal asDKJ and then insisted I reply to that. secondary books, multi millionaires, blah blah blah.. what bollox.

ok, I can see why you're confused. I think your interpretation of what a stop hunt actually is is not correct. Let me explain how a SB model works in terms of orders. A spreadbet firm quotes 100 currency pairs, each to 5 decimal places. That's a lot of price updates. A spread bet firm also has...

lol.. i'm happy to try and help and answer from my side of the fence. I've always said it matters not a jot to me whether I'm believed or not. I haven't been on here for a few months, just getting my fix :D btw - Seinfeld is my absolute favourite... 'is anybody here a marine biologist' :D

I agree that the software systematically fills stop orders but that isn't what you said. You said SB firms hunt for stops. Stop hunting is when a particular level in the market is achieved by either large volume selling or large volume buying to move the thin market to the desired level...

I'd agree with what you say up until the made up part about a secondary book. But what you say doesn't have anything to do with hunting for stops. What you talk about is the SB firm either making the most of illiquid markets to capture more spread or reflecting the thin market conditions in...

Yes I do. A stop order is an instruction to deal at the next available price once the order level has been touched. A limit order is an instruction to deal at a very specific price. Are you answering questions with questions? You told me SB firms hunt for stops as their right. My simple...

Hi EJ I agree that the software systematically fills orders - that is after all a very important function to have. But your point wasn't about filling orders it was about hunting for stops. You are the one telling me that a SB firm is responsible for hunting for stops I am asking you again...