Million Dollar Pips Discussion

Well compared to my manual trading broker, which is different to the one I use for EA's like MDP, these guys are super quick execution and in volitile market conditions, which is what MDP does it has to be expected, to me that is normal trading conditions, if you want to play with volitile markets then you will get slippage......but slippage isnt always negative, sometimes it can go in your favour on exits, so swings and roundabouts

+13 pips today and not even on an ECN-broker :-) nothing on the 2nd account.

Regarding business models of brokers see the filing of Gain Capital (forex.com) how they make money (page 90 ff.)
https://www.sec.gov/Archives/edgar/data/1444363/000095012309039802/w75376sv1.htm

So for market makers it is imperative to hedge their market exposure, first internally by netting all clients' positions, second by making opposing trades on the real markets for the net exposure. That's what takes them so much time opening a client's order, they simply have to hedge first and that's why some brokers are not suitable for MDP (because it takes them too long to hedge, market has moved in the meantime and brokers rejects clients' order ('requote')).
So you most probably won't succeed with MDP on a market maker-broker.
For MDP STP with DMA (Direct Market Access) would be best, I guess. But still you can't be sure whether the broker sends ALL the orders to the liquidity-provider. Usually they will build account-groups according to lot-size, profitability etc. and treat each group differently. And regarding ECN: most brokers who claim to be ECN are not! They are mostly STP.
In the end, to find a suitable broker for MDP you have to try out each broker and check execution-times, because low execution-times (around 500 ms is fine) make MDP succeed, in my opinion, no matter what methology the broker is using for executing your trades.
Cheers, Fred

You can succeed with MDP on MM but not for long, as as greedy as they get they take the opposite side of your trade on their own call, they aren't obliged to hedge everything, they profile trades and their trades, since most scalpers lose money rather instantaneously they trade against you but as time passes they have profile re-evaluation and they either switch you to the market (and likely with bad execution if they have only as optional bridge) or start messing with your trades. Most chose the second.

I agree, the dishonest market maker-brokers are even worse and make you loose, because they not only want the spread of your trade but your whole trade-loss as their gain.

I sent my slippage picture to MDP support yesterday and they replied straight away confirming that the figure showing 7 in the stats is not slippage of 7 pips but 0.7 pips, so that ties in when I checked with my broker on the slippage they received and they confirmed I had had 0.6 pips slippage on my orders.

My broker also confirmed that they are upgrading to a faster set up shortly which should virtually eliminated slippage as the execution times will be even quicker than those current.

Slippage or no slippage, I have had mainly winners and show a profit, so Im happy

ZERO slippage on my last trade! wooo 2 trades 9, 10 pips!

good for you mister :)

9th Feb update 6:02 GMT

6 Trades all winners 50.8 pips

Nice !

I'm up 200% now on one account . The other would be up similar but FFM is killin it

   ForexMentor posted:
   9th Feb update 6:02 GMT

6 Trades all winners 50.8 pips

Nice !

Did You have one set of trades or two ?

Did You have one set of trades or two ?


Crashev

Just the one set

4 trades for me nothing small gain. A wins a win so I cant complain

I had :
broker 1: 2 waves (1 -> +10 pips; 2 => +40 pips)
broker 2: +36 pips

crashev

Winning thats the main thing....good to hear, proving that broker selection is without doubt critical for good performance.

So why the difference in the profits between them.

Is it ECN .v STP or other type
Is it Location of Broker
Is it the one uses plug ins

Dont need to know who they are , just interested

   ForexMentor posted:
   crashev

Winning thats the main thing....good to hear, proving that broker selection is without doubt critical for good performance.

So why the difference in the profits between them.

Is it ECN .v STP or other type
Is it Location of Broker
Is it the one uses plug ins

Dont need to know who they are , just interested

Talking too much, but can not share any system...Interesting.

Difference is usually because of slippages, and the end result is also dependeble on the comission they take.

I use only ECN brokers, I think ECN/STP/NDD is just the same thing if it's realy ECN/STP (not some creature like Thinkforex). Real ECN/STP/NDD brokers take comission, this is what they earn on.

Locations of the broker are always the same, and the two that only matters here are London and NY, I use both, but I think NY is greater.

Is it the one uses plug ins? That I did not understand, how would I know if they use plug ins ?

Cinar

1) its a free country, Ill do what I like...lol, cheek
2) No your right not interested in sharing my system or broker or anything...why should I? Do your own reserch

But I dont mind talking in general terms about our results etc and why they should be different, but Im not going to hand out free information to free loaders...sorry

Crashev

Plugins are what Brokers can add to MT4 so it dosent perform as you may wish it to, but I beleive will allow them an edge over your trades in certain instances.

   ForexMentor posted:
   Crashev

Plugins are what Brokers can add to MT4 so it dosent perform as you may wish it to, but I beleive will allow them an edge over your trades in certain instances.

Yes I suspected that. But I can not know if the broker uses any plugins, just hoping it's not and is trying to build longer releationship instead of trying to screw me. Right now I have one good broker that I think will be good for this year and just found the second one that is just superior and with this one I will probably build relationships for years.
But time will tell. At the beginning every broker seems to be ok, just 've seen it too many times before, just dropping today another one that at the beginning seem to be very well, now it slips as hell and the comission is much higher that I have at others.