What happens when you start to earn big time?

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newschool
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Postby newschool » Thu Mar 11, 2010 2:17 am

michal.kreslik wrote:once you make a million dollars by trading forex, you'll face a totally different set of problems.


yes like wich car you will take tonight to go to montecarlo's casino ;)

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dragon33
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Postby dragon33 » Thu Mar 11, 2010 10:43 am

leonyde wrote:
adaseb wrote:However to you and me this should make no difference (unless your a crazy scalper) because do you really care if the broker takes your money or the market? Either way its out of your pocket.

If you worry about this there are many ECN brokers out there. However worry about this later. Right now try to get your account up to $20K from $10K in a year.


That wasn't exactly my question. I specifically don't worry about THAT part.

Let me formulate again in some other terms:

- You are trading with a good ECN broker
- Your account size is between 100 to 500k
- You are regularly "winning" => 100% a year

Will your broker let you win and win forever?


That's a simple question... and an interesting one. People do talk a lot, but as you know 95% of them fail. But what about those who "succeed", are they going to face some new issues as their account is growing exponentially?

With 1 million in cash you can participate directly in the interbank market, but there is a long road before that - that's the object of my question.


I started small a few years back with my private trade with a spread of five. In the beginning i had to learn how the forex worked. Since i met TRO i started to see how i could make money.

I switched to Alpari UK for a better spread and i was making money fast.
Once your account start to grow fast you've been spot by them and they do everything to harm you. I have faced "not able to close my trades, not able to open a winning trade, trades opened by themself etc" and lots of other stuff.

This was happening to me as soon as i was above the 50K. To go around this problem i was trading several accounts with several brokers and that did it a long time.

Now i am trading with dukascopy a big account 250K and the only thing what happened so far is that i'm not filled when the market is going fast. This doesn't happen very often. So all i can say from my own experience yes you will face strange things to screw your mind when you are able to make money.
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michal.kreslik
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Postby michal.kreslik » Thu Mar 11, 2010 11:01 am

one unnamed retail broker once made me wait for 5 minutes before I got a MARKET fill.. these things are hard to believe.

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newschool
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Postby newschool » Thu Mar 11, 2010 3:41 pm

hmm interesting dragon...

Talking about swiss FX brokers...

did you know Ross Brawn has an habit to buy ECHF between pit-stops ?
http://www.migbank.com/commercials/mig_videoplayer.swf

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Postby leonyde » Thu Mar 11, 2010 4:06 pm

bredin wrote:A mentor told me a while ago: "lets face it, having no money is a real problem. Having money causes problems, too, and I know which problems I'd rather have"

So Do I...

G.


LOL :D

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Postby JESGPY » Thu Mar 11, 2010 7:16 pm

dragon33 wrote:
leonyde wrote:
adaseb wrote:However to you and me this should make no difference (unless your a crazy scalper) because do you really care if the broker takes your money or the market? Either way its out of your pocket.

If you worry about this there are many ECN brokers out there. However worry about this later. Right now try to get your account up to $20K from $10K in a year.


That wasn't exactly my question. I specifically don't worry about THAT part.

Let me formulate again in some other terms:

- You are trading with a good ECN broker
- Your account size is between 100 to 500k
- You are regularly "winning" => 100% a year

Will your broker let you win and win forever?


That's a simple question... and an interesting one. People do talk a lot, but as you know 95% of them fail. But what about those who "succeed", are they going to face some new issues as their account is growing exponentially?

With 1 million in cash you can participate directly in the interbank market, but there is a long road before that - that's the object of my question.


I started small a few years back with my private trade with a spread of five. In the beginning i had to learn how the forex worked. Since i met TRO i started to see how i could make money.

I switched to Alpari UK for a better spread and i was making money fast.
Once your account start to grow fast you've been spot by them and they do everything to harm you. I have faced "not able to close my trades, not able to open a winning trade, trades opened by themself etc" and lots of other stuff.

This was happening to me as soon as i was above the 50K. To go around this problem i was trading several accounts with several brokers and that did it a long time.

Now i am trading with dukascopy a big account 250K and the only thing what happened so far is that i'm not filled when the market is going fast. This doesn't happen very often. So all i can say from my own experience yes you will face strange things to screw your mind when you are able to make money.



Dragon you took your 100k acount you posted on luxk log to 250k?

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Postby tmanbone » Thu Mar 11, 2010 8:42 pm

dragon33 wrote:
leonyde wrote:
adaseb wrote:However to you and me this should make no difference (unless your a crazy scalper) because do you really care if the broker takes your money or the market? Either way its out of your pocket.

If you worry about this there are many ECN brokers out there. However worry about this later. Right now try to get your account up to $20K from $10K in a year.


That wasn't exactly my question. I specifically don't worry about THAT part.

Let me formulate again in some other terms:

- You are trading with a good ECN broker
- Your account size is between 100 to 500k
- You are regularly "winning" => 100% a year

Will your broker let you win and win forever?


That's a simple question... and an interesting one. People do talk a lot, but as you know 95% of them fail. But what about those who "succeed", are they going to face some new issues as their account is growing exponentially?

With 1 million in cash you can participate directly in the interbank market, but there is a long road before that - that's the object of my question.


I started small a few years back with my private trade with a spread of five. In the beginning i had to learn how the forex worked. Since i met TRO i started to see how i could make money.

I switched to Alpari UK for a better spread and i was making money fast.
Once your account start to grow fast you've been spot by them and they do everything to harm you. I have faced "not able to close my trades, not able to open a winning trade, trades opened by themself etc" and lots of other stuff.

This was happening to me as soon as i was above the 50K. To go around this problem i was trading several accounts with several brokers and that did it a long time.

Now i am trading with dukascopy a big account 250K and the only thing what happened so far is that i'm not filled when the market is going fast. This doesn't happen very often. So all i can say from my own experience yes you will face strange things to screw your mind when you are able to make money.


Dragon, so then in your experience with different brokers, I'm assuming that Dukascopy is treating you the best. This seems to be the broker of choice for a lot of bigger traders, would you agree? Would you mind sharing your favorite Dukascopy platform? Thank you sir.
Last edited by tmanbone on Fri Mar 12, 2010 1:07 am, edited 1 time in total.
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Postby noone22 » Thu Mar 11, 2010 11:18 pm

michal.kreslik wrote:one unnamed retail broker once made me wait for 5 minutes before I got a MARKET fill.. these things are hard to believe.


Michal

Name it.

People want to know their "heroes" and see them in face.

Are MBT or PFGBest retail brokers as well
and can they do such bad things as well?

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leonyde
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Postby leonyde » Fri Mar 12, 2010 7:58 am

I heard good things about Dukascopy, but their "marketing" dudes don't seem very professional, they sound pretty much like the ones of FXCM, etc

"Sign-up fast, fund your account fast, and loose it all - fast"
"let us help you with forex"
LOL

And jeez their platform makes me feel like I came back to the times of dos and windows 3.1!!! They offer MT4 as beta only, so I would rather wait a few years till they get the maturity with the technology...

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leonyde
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Postby leonyde » Fri Mar 12, 2010 8:49 am

michal.kreslik wrote:one unnamed retail broker once made me wait for 5 minutes before I got a MARKET fill.. these things are hard to believe.


Yes, but why?

How do they know that delaying an order will be at their advantage? They supposedly don't know the future, unless they manipulate it. (that's a real question, I really want to know!)

I am thinking how would it be technically possible to follow every single trader, and "make them loose" individually - to say it in simple words. I mean it would take an unimaginable amount of calculating power to audit every single account, try to "guess" their next moves, etc

Or is it reasonable to think that they just generate those issues on a random basis to the masses, to make trading more difficult and random ?to their advantage in the end??

Technically it would be possible to audit all the accounts and separate trader in different pools: scalpers, day traders, etc. And then redirect them to a different server or whatever, and generate a set of issues specifically made to impel on their trading.

What do you think?

For example I had an account with FXCM, and I encountered some "suspicious" glitches time to time (Though I have to stay that I was very happy with the stability of their platform). The most common issue I had was "slippage". Orders get opened ? but strangely not where the price is, a few pips above the spread ? for no apparent reasons. The same occurred when closing trades, even more difficult to spot. However those issues appeared on a completely random basis, very difficult to track, and sometime to my advantage? so I can?t say for sure. But I still get this feeling that they artificially inflate the spread to their advantage.

(Just to be precise, I was trading on their UK server, from a nearby country on a 100mbit optical fiber connection ? so there was absolutely no lag on my side.)

All those strategies to manipulate the odds in the favor of broker are very complex, and require a lot of resource (personnel, computing power, etc). All this, when they could simply play the statistics if 95% of traders loose, as Adaseb stated before? So what to think?

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