best SB broker for scalping ?

[price777999]

I was thinking Pro Spreads , are there any others with tight spreads and fast execution ?

 

[Trader333]

I would be surprised if any SB is suitable for scalping.


Paul

 

[price777999]

I would be surprised if any SB is suitable for scalping.


Paul

buy scalping i mean 10 to 20 pip targets .

 

[Ross Spur]

buy scalping i mean 10 to 20 pip targets .

All the SBs will be fine with targets like that, just as long as you rarely hit them.

 

[MajorDutch]

I was thinking Pro Spreads , are there any others with tight spreads and fast execution ?

I think most of the professional long term profitable traders will tell you to steer clear of SB full stop. You will have more chance of success using a direct access broker, i.e. trading using the data from an actual exchange and having the ability to trade into the actual exchange, paying your broker a commission so they have an incentive to deal with you whether you win or lose. If you are trading OTC product eg. FX then you may want to consider FX futures which can be traded on exchange. The reason for this is that SB prices are effectively made up by the broker, this game is hard enough without having to contend with data manipulation and other issues.

This is only my opinion from what I have read, any pro's out there feel free to correct me. As of yet I have not found a way to be long term profitable, I am about £5k down, 2 years in and still learning.

 

[price777999]

I think most of the professional long term profitable traders will tell you to steer clear of SB full stop. You will have more chance of success using a direct access broker, i.e. trading using the data from an actual exchange and having the ability to trade into the actual exchange, paying your broker a commission so they have an incentive to deal with you whether you win or lose. If you are trading OTC product eg. FX then you may want to consider FX futures which can be traded on exchange. The reason for this is that SB prices are effectively made up by the broker, this game is hard enough without having to contend with data manipulation and other issues.

This is only my opinion from what I have read, any pro's out there feel free to correct me. As of yet I have not found a way to be long term profitable, I am about £5k down, 2 years in and still learning.

i think pro spreads use real data and smart live markets too , i could be wrong though ?

 

[Ross Spur]

i think pro spreads use real data and smart live markets too , i could be wrong though ?

They all quote prices based on real data, but that's not really the problem.

 

[DeusExMachina]

I use ProSpreads as one of my SB platforms. Definitely the best one for scalping as long as you are trading in a decent size (i.e. enough to do at least one Futures contract). Unbeatable execution!

 

[lancenicolase]

They all quote prices based on real data, but that's not really the problem.

Totally agree... any SB broker will do. The problem is if you manage to succeed.

 

[arabianights]

Look, think of this way. If you pay even a 1 pip spread with 10:10 target/stops you need to get 11:9 accuracy, i.e. 55% accuracy... or looking at it another way, say you're amazing, trading off no info at all sessentially (as you have to be SB) and you have an edge of half as many again winners as your losses, i.e. 60:40... you give away half your edge to the spread!

You cannot scalp if you have to pay spread. It realy really really really is that simple. Ignore me if you want, but I'm right.

 

[price777999]

ok , what if you dont have fixed targets and you let the odd one run for 70 - 100 pips ........could work then no ? ........then i guess that wouldn't be scalping , just day trading with tight stops ?

 

[arabianights]

You could make that work, yeah. Actually it's probably the best thign to try.

 

[price777999]

cool cheers .

 

[riogordo]

I use Prospreads and when I have cross checked the prices there is no visible delays and they allow me to scalp.

 

[price777999]

I use Prospreads and when I have cross checked the prices there is no visible delays and they allow me to scalp.

cheers ,which instrument do you scalp ?

 

[riogordo]

Normally FGBL

 

[arabianights]

Normally FGBL

they won't know what you mean

(he means bund futures)

 

[donaldduke]

ok , what if you dont have fixed targets and you let the odd one run for 70 - 100 pips ........could work then no ? ........then i guess that wouldn't be scalping , just day trading with tight stops ?

Also you need to bear in mind how many trades you make each day.

I dont recommend Spread Betting if you are making more than 1 or 2 trades per day.

There are FX traders (more like gamblers) out there doing 5, 10 or even 20+ trades a day with a SB firm.

With an instrument like Cable you are paying 3 ticks spread, just 5 trades a day mean 15pips profit is required every day to just to break even.

15pips trading just 5 lots, means you need to make $750 a day just to break even!

If you trade like you cant beat the odds, but your Spread Bet firm owner will love you, he is laughing all the way to his offshore bank, while counting his billions on his private jet .

 

[Ross Spur]

20+ trades a day can work, but your SB provider will only love you if you're failing to make a profit.

 

[donaldduke]

20+ trades a day can work, but your SB provider will only love you if you're failing to make a profit.

lol.

20 trades at 2 pip spread means you need to make 40pips per day just to break even

or 10,000 pips per year.



Now i know why guys like Peter Cruddas are billionaires and fly around in private jets