I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
YOLO
Feb 10 2017 at 09:09
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.
khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
The slippage is not that much related to the spread but depends on other factors like the volume of your orders for example. The tighter the spread, the better chances you have to reach your TPs and avoid early SLs. I believe your choice of option 2 is good for long term. Why account 1 is better in your specified conditions? I didn't understand that.
When it comes to the broker, I would suggest to find one that does not trade against you but beware to read between the lines as sometimes what the broker says is different from what the regulator says 😄
Feb 13 2017 at 16:12
When choosing an account – you have to find the best one matching your strategy. Also as [email protected] said – go for comparing the total costs. Not only commission or only spread. This will give you a better analysis for your total (possible) profit or lost.
Accept the loss as experience
I am not sure but maybe there is a way also to check the account type that you will copy the trades from? Could be good to use similar settings or at least to be aware of the backend of what you are copying from.
Feb 21 2017 at 08:07
togr posted:khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.
Excellent advice, you gave me ideas friend!
Apr 19 2018 at 10:54
We now have copy trading available using SignalStart, they seem to be one of the best 3rd part signal service providers. Our current strategy is ranked 7th on their website https://theforexcoach.signalstart.com/search-signals
TheForexCoach
Apr 19 2018 at 19:33
korn6 posted:togr posted:khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.
Excellent advice, you gave me ideas friend!
You are welcome
togr posted:Bu what about deposit/withrawal fees ...LARGE!korn6 posted:togr posted:khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.
Excellent advice, you gave me ideas friend!
You are welcome
“Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn’t, pays it.”
Apr 30 2018 at 08:15
ozzy25 posted:togr posted:Bu what about deposit/withrawal fees ...LARGE!korn6 posted:togr posted:khaled912 posted:
I've noticed that there are generally two broad types of accounts that brokers offer:
(1) 0 commission, large spread
(2) $3-$4 commission, tight spread
So far I've been going for (2) to try to minimize slippage; my main concern was trades not getting copied if the price difference was too high.
In some cases, however, account (1) seems to be a better deal (cases where commissions are too high, leverage is too low, or min deposit is too high), so I'm actually now revising my conclusion that (2) is better for copy trading to make sure I'm not missing something.
Any advice?
Find a broker like @FXPIG who does offer the lowest total cost.
Total cost is comission plus spread.
Also their execution and leverage are great.
Excellent advice, you gave me ideas friend!
You are welcome
Can you be more specifics, what does mean large?
You want to be with a broker that does allot of volume! The more they do, the faster they can execute your trade and limit your slippage. I have been using Oanda for some time and the execution is super fast. I use them via MT4, 2 separate charting packages, and also API algo trading. I have been with STPs/ECNs that cant match the execution speeds and seem to always give me worse price slippage.
Just my 2 cents. I'm sure you'll find a home soon. Hope I helped.
Just my 2 cents. I'm sure you'll find a home soon. Hope I helped.
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