hyperscalper
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Dukascopy for non-U.S. clients
The term ECN is a little bit imprecise. But, yes, Dukascopy is genuinely an ECN if you are outside the U.S. and able to get an account. If you do, get it through FXDD since much lower account sizes required, and Dukascopy applications involve a lot of paperwork, with FXDD you'll want a "JForex account".
I am a micro scalper and have used all of the precision available at Dukascopy, so I know for sure it's fast, accurate, fair, transparent and all of that. For pure Forex, I'd say it's the best retail venue available anywhere with "full service" such as backtesting, charting, unlimited programmability through their API and so on, if you're a Java programmer, etc...
I wrote a trading platform for day trade micro scalping which is for Dukascopy clients. There is no slippage, and only very very rare counterparty rejection with automatic resubmission (using specialized order types) and excellent spreads.
HyperScalper
The term ECN is a little bit imprecise. But, yes, Dukascopy is genuinely an ECN if you are outside the U.S. and able to get an account. If you do, get it through FXDD since much lower account sizes required, and Dukascopy applications involve a lot of paperwork, with FXDD you'll want a "JForex account".
I am a micro scalper and have used all of the precision available at Dukascopy, so I know for sure it's fast, accurate, fair, transparent and all of that. For pure Forex, I'd say it's the best retail venue available anywhere with "full service" such as backtesting, charting, unlimited programmability through their API and so on, if you're a Java programmer, etc...
I wrote a trading platform for day trade micro scalping which is for Dukascopy clients. There is no slippage, and only very very rare counterparty rejection with automatic resubmission (using specialized order types) and excellent spreads.
HyperScalper
just try to put at proper sentence, often many brokers guarantee of no slippage at all during news, well i said news event are one of ineviteble event for slippage happen . back then couple years ago we often had terrible price slip, even freeze price feed. nowadays ecn technology been taking care as proper improvement for a better price feed. Just looked into my tickmill platform, well, last trade on EUR/USD got 2 pip slippage (latest NFP release).
for now i keep with cut and switch entry system during news, other method are stop order entry type, been apply this method with them without facing any problem.
hyperscalper
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Latency Slippage is the only modern type of slippage
On a proper ECN "modern" brokerage, "slippage" doesn't really exist.
What traders "see" as slippage is really that they are "chasing price" and so there is a latency between what they see, and the fact that the real market has already moved on, sometimes by several pips.
If you use a Limit order, by definition you cannot get "slippage". Either you get your price, or an improved price, or you don't get into the market.
With Market type orders, as I said, with a decent brokerage there is no "slippage" unless it is simply due to inherent speed of markets and latencies.
Naturally, trading News Events is the worst situation in which to attempt Market orders, especially "chasing" an established trend. Buyers will always get a higher Ask price as the trend is up, and Sellers will always get a lower Bid price as the price moves down. These are the worst possible conditions, and you will, in general get "latency slippage".
I can tell you that Dukascopy, LMAX and other "professional" brokerages simply do not have "slippage" in the ordinary sense any more. But messaging "latency slippage" for "chasing the market" using Market orders is inevitable and is unavoidable. In those cases, you should attempt to "co-locate" your trading software as near as possible to the brokerage's trading servers. Then, at least, your "latency slippage" will be reduced. Or, try to Buy when price is in a down move pullback, or Sell when price is momentarily in an up move pullup. In these cases you will not have slippage, or you will experience "positive slippage" which is slippage which works in Your Favor, again due to latencies. But don't "chase" price since your fills will be the worst possible in general.
You can reduce your latency slippage, if you have triggering software, by having a Windows Server, or if you are more sophisticated, a Linux Server with a graphical user interface; so that you can operate your trading system remotely, but have the logic on the server side, the physical location of the server, "co-located" as much as is possible to your broker's trading servers.
Now, in these cases, if you are just watching price, and manually "clicking the mouse" of course you still cannot get away from "latency slippage" because the screen images take a fraction of a second to get to you, and your reaction time is also slow. You should have a "trigger mechanism" in your trading platform which can see market conditions, and react automatically but this is not commonly available with regular trading platforms. At your user interface you simply "arm" the trigger or "take the safety off" and then you allow the platform, with far less latency, to execute the order action.
HyperScalper
On a proper ECN "modern" brokerage, "slippage" doesn't really exist.
What traders "see" as slippage is really that they are "chasing price" and so there is a latency between what they see, and the fact that the real market has already moved on, sometimes by several pips.
If you use a Limit order, by definition you cannot get "slippage". Either you get your price, or an improved price, or you don't get into the market.
With Market type orders, as I said, with a decent brokerage there is no "slippage" unless it is simply due to inherent speed of markets and latencies.
Naturally, trading News Events is the worst situation in which to attempt Market orders, especially "chasing" an established trend. Buyers will always get a higher Ask price as the trend is up, and Sellers will always get a lower Bid price as the price moves down. These are the worst possible conditions, and you will, in general get "latency slippage".
I can tell you that Dukascopy, LMAX and other "professional" brokerages simply do not have "slippage" in the ordinary sense any more. But messaging "latency slippage" for "chasing the market" using Market orders is inevitable and is unavoidable. In those cases, you should attempt to "co-locate" your trading software as near as possible to the brokerage's trading servers. Then, at least, your "latency slippage" will be reduced. Or, try to Buy when price is in a down move pullback, or Sell when price is momentarily in an up move pullup. In these cases you will not have slippage, or you will experience "positive slippage" which is slippage which works in Your Favor, again due to latencies. But don't "chase" price since your fills will be the worst possible in general.
You can reduce your latency slippage, if you have triggering software, by having a Windows Server, or if you are more sophisticated, a Linux Server with a graphical user interface; so that you can operate your trading system remotely, but have the logic on the server side, the physical location of the server, "co-located" as much as is possible to your broker's trading servers.
Now, in these cases, if you are just watching price, and manually "clicking the mouse" of course you still cannot get away from "latency slippage" because the screen images take a fraction of a second to get to you, and your reaction time is also slow. You should have a "trigger mechanism" in your trading platform which can see market conditions, and react automatically but this is not commonly available with regular trading platforms. At your user interface you simply "arm" the trigger or "take the safety off" and then you allow the platform, with far less latency, to execute the order action.
HyperScalper
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Thank you for your post, I will try D, I have a demo account, the platform seem good and clear, I need not slippage if possible with a bid and ask chart.
Fzsy
fxstrategist
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There are plenty of good traders for scalping, for instance, ActivTrades allows scalping and the use of EAs on all of their accounts.
hyperscalper
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Always read reviews on Forex brokers
I'd suggest reading reviews about ActivTrades or any broker you choose.
Dukascopy is high quality, and I'm sure a few others as well, but reading
about this particular broker might cause you to pause. I think you asked for an ECN type broker, so you need to be sure. ActivTrades does not appear to be a reliable ECN broker....... watch out, my friend. Choose Mercedes, and not Kia when you choose your next car
http://www.forexpeacearmy.com/public/review/www.activtrades.com
I'd suggest reading reviews about ActivTrades or any broker you choose.
Dukascopy is high quality, and I'm sure a few others as well, but reading
about this particular broker might cause you to pause. I think you asked for an ECN type broker, so you need to be sure. ActivTrades does not appear to be a reliable ECN broker....... watch out, my friend. Choose Mercedes, and not Kia when you choose your next car
http://www.forexpeacearmy.com/public/review/www.activtrades.com
for your information Market Makers have two distinctive features - instant execution and <no slippage>. Thankfully they figured out to remove instant execution option from platform as it’s dumb to think that market price will wait for your order to get filled . as adequate slippage that i've got in Tickmill during news trades make me believe that they have real ECN.
a "trigger mechanism" , seem you put too much effort on it, as it look like there's no future for any manual trade with those fast line trading technology. while we have a brokers platform who cant handle market behaviour, now we have a trading platform which literally unable to operate with simply ordinary (human) trader as it's trigger.
. as adequate slippage that i've got in Tickmill during news trades make me believe that they have real ECN. a "trigger mechanism" , seem you put too much effort on it, as it look like there's no future for any manual trade with those fast line trading technology. while we have a brokers platform who cant handle market behaviour, now we have a trading platform which literally unable to operate with simply ordinary (human) trader as it's trigger.
hyperscalper
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The evolution of Forex exchanges is a good thing
Well, you make some good points, but I would say because Forex markets are becoming much better, using "fair, transparent, fast" ECNs or exchanges... In the case of some, like LMAX you can compete with Market Makers for Retail liquidity which was never available to Retail traders before, which I call wholesale pricing. At least the Retail spreads are incredibly tight. That's one extreme of the evolution of Forex.
That this opens up a new area of Precision trading for Retail traders, which was simply not possible before. These new "high resolution" fast ECNs and Exchanges, such as Dukascopy or LMAX and increasingly other choices, make it possible for the Retail trader to trade without requotes, without slippage, and with affordable proportional commissions.
So, the Retail trader can now start to use techniques which were not previously available, except to the Big Money Pros. In particular, Scalping for smaller moves with Larger lot sizes to make it worthwhile. This wasn't available in the past.
So I just think the evolution of Retail trading makes it possible and desirable to do what I call "Micro Scalping" but it does require some computer cyber assists if we want to "grab" the best prices. That's on the Order Entry side.
And it also requires new types of Analysis to operate with very short term trading. I've devoted years to this topic, so I know that normal indicators are not good enough. Without Analytics, you are "trading blind" and we do not want to be just guessing....
HyperScalper
for your information Market Makers have two distinctive features - instant execution and <no slippage>. Thankfully they figured out to remove instant execution option from platform as it’s dumb to think that market price will wait for your order to get filled
a "trigger mechanism" , seem you put too much effort on it, as it look like there's no future for any manual trade with those fast line trading technology. while we have a brokers platform who cant handle market behaviour, now we have a trading platform which literally unable to operate with simply ordinary (human) trader as it's trigger.
Well, you make some good points, but I would say because Forex markets are becoming much better, using "fair, transparent, fast" ECNs or exchanges... In the case of some, like LMAX you can compete with Market Makers for Retail liquidity which was never available to Retail traders before, which I call wholesale pricing. At least the Retail spreads are incredibly tight. That's one extreme of the evolution of Forex.
That this opens up a new area of Precision trading for Retail traders, which was simply not possible before. These new "high resolution" fast ECNs and Exchanges, such as Dukascopy or LMAX and increasingly other choices, make it possible for the Retail trader to trade without requotes, without slippage, and with affordable proportional commissions.
So, the Retail trader can now start to use techniques which were not previously available, except to the Big Money Pros. In particular, Scalping for smaller moves with Larger lot sizes to make it worthwhile. This wasn't available in the past.
So I just think the evolution of Retail trading makes it possible and desirable to do what I call "Micro Scalping" but it does require some computer cyber assists if we want to "grab" the best prices. That's on the Order Entry side.
And it also requires new types of Analysis to operate with very short term trading. I've devoted years to this topic, so I know that normal indicators are not good enough. Without Analytics, you are "trading blind" and we do not want to be just guessing....
HyperScalper
Hi there,
I've noticed this thread about scalping. Im trading higher volumes now with IC Markets. I've traded nearly 10k Lots and discounted commission ive paid is £50k nearly. These figures are this month only. I need to move away from retail brokerages and focus POP (prime of prime) brokers. Has anybody have any experiences with POP brokers with high leverage. Will deposit $100k to start with.
Thanks
gchads
I've noticed this thread about scalping. Im trading higher volumes now with IC Markets. I've traded nearly 10k Lots and discounted commission ive paid is £50k nearly. These figures are this month only. I need to move away from retail brokerages and focus POP (prime of prime) brokers. Has anybody have any experiences with POP brokers with high leverage. Will deposit $100k to start with.
Thanks
gchads
