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Handy to know.
They did indicate to me that their spreads are fixed except for exceptional circumstances but would not define them further, other than citing e.g. blackouts in New York.Hope that when that happens your charts and quotes don't keep udating!
I will also trial some other platforms.
Perhaps other providers with variable spreads around the news announcements might be worth looking at?
Does anyone use IB for forex?
That is attractive because TJ already has a plugin for IB.
Have not yet found a good site which compares these ins and outs of the differing fx providers.
Anyone know of such a site?
If not I will continue to look around.
Tx again.
ChrisB
"Thomas Z." <tzg@xxxxxxxxxxxxxxxx> wrote: Hi Chris, no problem. A friend of me often used entry orders during news. He simply added a buy or sell order just 20-30 pips above/below current price with a automatic Stopp and take profit. He used this type of trading at FXCM. After a while they blocked him trading during news. Now he can only trade with a request button during news or with a far away entry order. I have contacted their support and they confirmed that they have a much higher risk during news because they guarantee the stopps.
If someone often trades news then they have to pay a lot of money for the difference between the price they get and the price they have to give you. It’s very similar with other brokers, often they simply block the connection. Thereafter they say that it is only a traffic problem. J - - - - - - - - - - - - - - - - - Best Regards Thomas - - - - - - - - - - - - - - - - -
From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf Of kris45mar
Sent: Thursday, May 25, 2006 10:41 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: RE: [amibroker] AB and Forex (starting out) Thomas
That is very useful, especially about the lower time frames.
Thanks for the replies.
ChrisB
"Thomas Z." <tzg@xxxxxxxxxxxxxxxx> wrote: Yes, of course, if you send a entry orders to your broker then this is order is saved on the server of the broker. Is this a deliberate or a function of their bandwidth? Market makers are very busy during news and their risk is much higher, especially when they guarantee Stopps which is typically at forex. OK, so Metatrader, IB, quotetracker and eSignal are alternatives? Metatrader and esignal yes Quotetracker…i have not tried the last plugin. Also IB, i have not tried it. From where do the different market makers/ brokers obtain their data, if that is not a silly question?
If this comes from somewhere outside of
Australia then this latency may be a further factor. Every market maker makes his own quotes, that’s the bad story. In can happen that your strategy gives different results with another broker. This factor increases with lower time frames. As higher the time frame as more you can ignore this factor. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
From: amibroker@xxxxxxxxxxxxxxx [mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf Of kris45mar
Sent: Tuesday, May 23, 2006 6:49 PM
To: amibroker@xxxxxxxxxxxxxxx
Subject: RE: [amibroker] AB and Forex (starting out) Thomas
Thx for taking the time to reply.
I will "watch" the action in the news over the next three days or so and stick to trading outside of those times on my demo account with FXCM.
What this means is if I enter at Market based on what I see I may be way off the mark.
At present only doing Entry orders at predetermined levels.
Presumably the Entry buy or sell, limit and stop orders reside on their servers?
Meaning that if I have a PC/ISP/software crash then those orders are still good?
See also my responses below in green.
Many thanks.
ChrisB
"Thomas Z." <tzg@xxxxxxxxxxxxxxxx> wrote: - - - - - - - - - - - - - - - - -
- - - - - - - - - - - - - - - - -
From: amibroker@xxxxxxxxxxxxxxx
[mailto:amibroker@xxxxxxxxxxxxxxx] On Behalf Of kris45mar
Sent: Monday, May 22, 2006 7:27 AM
To: amibroker@xxxxxxxxxxxxxxx
Subject: [amibroker] AB and Forex (starting out) Hello All...
Looking to play with FX platforms and feeds.
Is there a
significant difference between prices/quotes between the different market makers?
Yes, this can happen, especially in fast markets (news), some brokers react faster than others, some have gaps, some not, and so on. FXCM mostly reacts slower.
Is this a deliberate or a function of their bandwidth?
It’s very important to test a demo and ask the broker if the demo reflects real prices. What I am getting at is this: if I get Fx prices
from say quotetracker but use FXCM trading platform ( their charts are not that hot) or from Oanda, is this viable or fraught with error?
See above. I have seen difference of 20 pips at fast markets, for about 30-60 seconds. But it could also be that some brokers don’t show their real prices in the charts and update their charts later, i have seen this also.
I can chart fx data in AB with Amiquote down to one minute, but only on some of the currency pairs.
Does anybody use *one* trading platform and a *different* data source?
I would guess that for anything other than intraday moves this would be OK, but not OK for intraday moves.
Yes, i use Metatrader quotes for amibroker. As long as you don’t trade news it’s OK. Forex news are mostly very heavy and some brokers even block you trading.
J
Under normal conditions it’s no problem. Of course, it also depends on your strategy.
Just looking around at FX platforms and how best to integrate this with AB Pro, latest version.
I am presuming it is better to find a way to use the same data as the market maker feeds us. Yes, of course, but not all market makers give you their feed.
OK, so Metatrader, IB, quotetracker and eSignal are alternatives?
How would one go about this or is one then best to use their charting.
I prefer to use and test strategies with a Stopp
and profit target of at least 25 pips or more. In such cases the price differences between brokers are not so important, because they are only about 10% of my target.
Point taken, so slightly longer time frames, perhaps.
(Does anybody here in Oz use any of the CFD providers for forex? E.g. Man or CMC? Or is it better to just stick with a dedicated Fx plaform?
Don't want to clog the boards with this:
If there is anyone here in W.Australia with any advice please contact me at
kris45mar [at] yahoo.com )
CMC seems a little bit slowly to handle, but i have not tested it on a live account.
From where do the different market makers/ brokers obtain their data, if that is not a silly question?
If this comes from somewhere outside of Australia then this latency may be a further factor.
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