Blaiserboy
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Definitely there is a delay between brokers as prices move, I see that every day, I do not have the high speed connection to take advantage of same.
Definitely there is a delay between brokers as prices move, I see that every day, I do not have the high speed connection to take advantage of same.
wackypete2
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You're right. Please ignore anything I've said here as it may be entirely wrong and I was really just out to get you. I absolutely agree with you that everyone else is also out to get you. Watch your back everywhere you go. Be afraid.
Peter
Blaiserboy
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<--------adjusts rear view mirror on baseball cap.....
wackypete2
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meanreversion
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Banks have (very profitable) arbitrage desks set up to extract pennies from the difference between OTC spot and the futures market. A retail investor is NEVER going to make money from these differences, they aren't quick enough.
But what pete is saying is that the idea that spot broker prices are 1 minute behind futures is ludicrous, not that it does happen. In other words, stop it with the paranoia.
Have you had a bad experience with a broker or do you always assume the worst in everyone?
meanreversion says:
"FX is the most liquid market in the world, daily turnover in spot is $3trio a day"
What is this?!! 99% of the 3Trillion you are talking about is done on the wholesale level among banks.......You do not even see it, let alone trading it?!
it is like a GM deallership in Missoura Valley,Iowa (no offense to the town) saying he is in good shape because GM has 20% of the Globle market share forgetting that His share is ONLY at best 200 cars per year
"FX is the most liquid market in the world, daily turnover in spot is $3trio a day"
What is this?!! 99% of the 3Trillion you are talking about is done on the wholesale level among banks.......You do not even see it, let alone trading it?!
it is like a GM deallership in Missoura Valley,Iowa (no offense to the town) saying he is in good shape because GM has 20% of the Globle market share forgetting that His share is ONLY at best 200 cars per year
meanreversion
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? I have absolutely no idea what your point is.
FX is the largest market in the world - fact.
It is the most liquid - fact.
Spreads are super tight - fact.
And your point is .. ?
FX is the largest market in the world - fact.
It is the most liquid - fact.
Spreads are super tight - fact.
And your point is .. ?
wackypete2
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What happened to your share of common sense and intelligence? You must be in the 95% that didn't get any.
Peter
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Two points:
(1)-If the Fx mrket is 3T or 1B it does not matter....What matters is at level YOU trade. CDO market is 650 Trillion in the US alone.....So what??!! if it is ALL done between banks, investment banks and hedge funds. If you are none of the above what good is that to you?! Same with FX if the FX mrkt is 3T or 1Zillion it is irrelvant if the mrkt you can trade at is ONLY 2Billion.
(2)- FX market at the retail level is way too fragmented, so when you register with a broker you are not competing in the WHOLE market (your 3T) you are just competing with other customers that registered with that specific broker. Hence price movements on the wholesale level are not reflected on the retail level among all brokers equally.
the euro/$ could drop by 20 pips on the wholesale level and it will drop on your broker screen by only 10 pips and on another broker by 14 pips and o on
Hence, it is not HOW big a market is that matters.....but where you can maximize your rewards at a targeted risk.................It is kind lke........ It is Not the size of the bate but rather the motion of the ocean, maybe that will drive the point home......
(1)-If the Fx mrket is 3T or 1B it does not matter....What matters is at level YOU trade. CDO market is 650 Trillion in the US alone.....So what??!! if it is ALL done between banks, investment banks and hedge funds. If you are none of the above what good is that to you?! Same with FX if the FX mrkt is 3T or 1Zillion it is irrelvant if the mrkt you can trade at is ONLY 2Billion.
(2)- FX market at the retail level is way too fragmented, so when you register with a broker you are not competing in the WHOLE market (your 3T) you are just competing with other customers that registered with that specific broker. Hence price movements on the wholesale level are not reflected on the retail level among all brokers equally.
the euro/$ could drop by 20 pips on the wholesale level and it will drop on your broker screen by only 10 pips and on another broker by 14 pips and o on
Hence, it is not HOW big a market is that matters.....but where you can maximize your rewards at a targeted risk.................It is kind lke........ It is Not the size of the bate but rather the motion of the ocean, maybe that will drive the point home......
wackypete2
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So in other words....in the world of over 3T traded per day you cannot find even 1 spot to place your microlot trade in YOUR world?
Got it.
Peter
Got it.
Peter
wackypete2
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OK, I don't really agree with this part of your statement. A larger market means more liquidity, easier to get in and out without getting slippage into hell. If you ever tried selling at market 1000 shares of a stock that only trades 25000 shares per day you will realize what I mean. The price you get filled at would make you cry.
You mention forex is a fragmented market. Mostly true, you are trading on your broker's available liquidity. But if you limit yourself to large, properly capitalized, reliable forex brokers you should not have many of the problems you list in this thread.
Yes, this is just good money management. Low risk, high potential reward trades.
Peter
Ok...now better
IN the srock market you have NBBO rule....In the FX mrkt no such thing...we could be in the same room but registered with different brokers and we will ger two diff. quotes for same currency.
I am trying to say the 3T fx mrkt is just marketing pitch by brokers..... but for us at the retail level we do not trade at that high of liquidity.......Agree?!
IN the srock market you have NBBO rule....In the FX mrkt no such thing...we could be in the same room but registered with different brokers and we will ger two diff. quotes for same currency.
I am trying to say the 3T fx mrkt is just marketing pitch by brokers..... but for us at the retail level we do not trade at that high of liquidity.......Agree?!
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wackypete2
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True, but that level of liquidity is really only necessary if you are trading 100 standard lots at a time. For most of us trading 1 to 20 lots our broker's available liquidity should be fine.
Peter
meanreversion
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Sorry, but I completely disagree with this statement. If you take something liquid like EUR/USD or GBP/USD, you will get the same price irrespective of broker 99.9 pct of the time (and that is more than adequate). Sometimes they might differ, but that is only under extreme market conditions.
I used to trade FX at a large bank, and price discrepancy is still possible this day between banks, in large amounts. Certain end users take advantage of these mis-pricings and it's called arbitrage. So there are price differences even at wholesale level, but I cannot stress to you how RARE these events are (again, you need extreme market conditions).
Ok, so by now your conclusion will be that FX as an OTC market is totally undependable and untrustworthy (as you clearly assume the very worst in every situation). Maybe try trading FX futures on the CME.
Or better still, knowing as you do that everyone is out to get you, just don't trade at all. Stick your money in a bank. Hang on, maybe the bank isn't safe either..
wackypete2
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lol, yeah, stick your money in a bank these days. THAT'S a reason to be paranoid!
Peter
meanreversion
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I'm still clueless as to the point of this thread.
oi who just ran my break even stop long eurusd 1.2172. Blatant market manipulation!!!
meanreversion
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The ECB waited for your stop to get in, they'll be buying it in cartloads soon.
