No it's me answering this man's question and helping individuals save money on their trades.
No it's me answering this man's question and helping individuals save money on their trades.
Crown possess the worst execution that I know. A frend of mine had an account with them. They may have the worst potential spread to your cable from all brokers
If you would like to use a small account I'd give Oanda a chance. They often have a spread of 2.5 for the GBP/USD.
Regards -
Crown is awful to trade with through news, no disputing that. Howeer when you've got a limitation in prior to the news or at any other time you'll get filled with no slippage every time. Besides news time the execution is adequate and they don't have any interest accounts too. They are not for everyone news traders or scalpers. The spread is 1 pip so it is not the worst disperse. Your getting heard from a buddy about them makes you an expert about the situation. My philosophy has always been to think for myself and try things myself and then form my own opionion about matters. You should try that .Originally Posted by ;
I chatted online with someone at Crown about their arrangement - 1 pip, no commission. Sounds great. I began asking about their coverage scalping - they make a big deal of on the site - and the person obtained slightly aggressive.
How can the brokers (and community) tend to specify scalping? I have heard of people who look to scalp 20 pips in a half an hour and people who look to be in and out of transactions in one minute to make two pips....
What exactly is scalping?
Why would any broker oppose it? It almost seems like someone who wishes to emphasise their account... if brokers make $ on the trading activity, why would not they want someone who wishes to be somewhat busy?
Also about the news trading comment - if they don't fill well at the news, it was suggested to devote a limit order ahead. Would you (like ) put in both a long and short OCO STOP @ 10 pips from the market at xx:xx:58 and, as the market moves through either level, it trades and trips? Is that what?
Sorry for long post - only my next post... hope to learn more add to the talks
Thank you
Definition of scalping to a bargain desk: You win, we lose. We likey.Originally Posted by ;
Yes, there are different views, but I do not think looking for 20 pips in 30 minutes can be egorized as scalping. I can see why market makers do not like when you maintain your trades for just a few seconds during the news, but if you go for over 10 pips and you maintain your trades for over 15 minutes during regular market conditions I think that is just day trading.Originally Posted by ;
I really don't possess a scalping egy, per se, but when I enter a situation and it runs, yep, I will take my pips in a moment or two. Other times I maintain it more.
Is that a factor in favor of a broker with no coping desk? If they're passing orders and making a normal commission, they likely appreciate the quantity.
If on the other hand, they're a bookie, ahem, I mean a dealing desk, I am guessing they do not want to have the action (trades) too quickly they can not put it off (counter commerce ) and are left holding the bag (negative profits)?
Crown's definition of scalping is a mean profit of less than 6 pips over any 48 hour period. If you're labeled a scalper they will start to bill you 3 pips on the majors and you may only have 100 to 1 leverage or less. Your speculation concerning the bookies isn't far from the mark, in case a provider is taking the other side of the market from you they don't need you to earn lots of money. Back in Crown's case I'm told it is the banks that they put the action off on that don't like it. Crown says whatever bank they put your trade together with (the job with Credit Suisse and UBS mostly ) can also be the one that they exit it together and that the banks don't like to go scalped against. Go find a bank that doesn't like to get rid of money. Lots of scalpers decided to open accounts with Crown because of their 1 pip spread and attempt to abuse the trading conditions, so they let them go elsewhere rather than lose a good relationship with the major banks.
With reference to your idea about putting orders on both sides of the market you can do that. If the market decided to select a direction right away it will work nicely for you. As they don't expand the spread to trigger your orders just like most traders and have a no slippage warranty it is a great egy. You might also place a trailing stop or a limitation or both on those orders. Just remember that there is no OCO order type on MetaTrader so you would probably wish to go in and cancel the nonfilled order.
Originally Posted by ;
Frequently 1 pip spread on MBT (demo that is)
I'm not using MBT but regardless of the high commission that they seem to supply you with the actual market price.