FIXED SPREAD BANDITS

free & uncensored discussion arena for TheRumpledOne

Moderator: moderators

theperfectsun
rank: <50 posts
rank: <50 posts
Posts: 22
Joined: Fri Oct 03, 2008 5:28 pm
Reputation: 0
Gender: Male
Contact:

Question?

Postby theperfectsun » Sun Nov 09, 2008 6:57 pm

This is what you have written:

With FIXED SPREAD BROKERS you have to wait to hit their offer.

Maybe this might help:

First:

1.5010 x 1.5015

and price drops...

1.5009 x 1.5014

1.5008 x 1.5013

1.5007 x 1.5013

1.5006 x 1.5012

1.5006 x 1.5011

1.5005 x 1.5011 You may get hit

1.5005 x 1.5010 You may get hit

1.5004 x 1.5009 YOU COVERED 5 PIP GROSS PROFIT

AND LET'S CONTINUE

1.5003 x 1.5008

1.5002 x 1.5007

1.5001 x 1.5006

1.5000 x 1.5005 YOUR FIXED SPREAD BROKER FILLS YOUR ORDER.


I don't understand one thing:

With let's say some other broker you have BID and ASK the same, the spread is the same:
1.5010 and 1.5015. You hit limit order on Mb trading at 1.5005 ok? I hit instant execution on my broker-fixed spread bandit.
We both get filed right away, so much I have learned when you make a limit sell under current BID price you get filled right in with MBtrading. (This might be good for news time).

So as you explained what happens. Price reaches 1.5005 and 1.5010. We both are covered, except you have to pay the commission, right?

We have TP at 1.5005. Than means when ask hits that line we take our TP.
I see the catch is here: with MB trading your TP gets executed when bid comes to 1.5005( ask is at 1.5009 as you said) so you take 1 pip profit?

Because on my broker the ask needs to come down to 1.5005 for me to take 5 pips. But I can close the order manually at ASK 1.5010(1.5009) and make 1 pip as well?

So where is the difference. You have made 1 pip - commission and I have made 0 or 1 pip, because my broker uses a fixed spread.

Please enlighten me, thanks!
thank you

Good luck to you all!

www.elegance.si
www.befxtrader.com

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

androfx
rank: <50 posts
rank: <50 posts
Posts: 20
Joined: Thu Oct 26, 2006 3:27 pm
Reputation: 0
Location: Europe, Czech Republic... sometimes
Gender: None specified

Re: Question?

Postby androfx » Sun Nov 09, 2008 7:25 pm

theperfectsun wrote:This is what you have written:

With FIXED SPREAD BROKERS you have to wait to hit their offer.

Maybe this might help:

First:

1.5010 x 1.5015

and price drops...

1.5009 x 1.5014

1.5008 x 1.5013

1.5007 x 1.5013

1.5006 x 1.5012

1.5006 x 1.5011

1.5005 x 1.5011 You may get hit

1.5005 x 1.5010 You may get hit

1.5004 x 1.5009 YOU COVERED 5 PIP GROSS PROFIT

AND LET'S CONTINUE

1.5003 x 1.5008

1.5002 x 1.5007

1.5001 x 1.5006

1.5000 x 1.5005 YOUR FIXED SPREAD BROKER FILLS YOUR ORDER.


I don't understand one thing:

With let's say some other broker you have BID and ASK the same, the spread is the same:
1.5010 and 1.5015. You hit limit order on Mb trading at 1.5005 ok? I hit instant execution on my broker-fixed spread bandit.
We both get filed right away, so much I have learned when you make a limit sell under current BID price you get filled right in with MBtrading. (This might be good for news time).

So as you explained what happens. Price reaches 1.5005 and 1.5010. We both are covered, except you have to pay the commission, right?

We have TP at 1.5005. Than means when ask hits that line we take our TP.
I see the catch is here: with MB trading your TP gets executed when bid comes to 1.5005( ask is at 1.5009 as you said) so you take 1 pip profit?

Because on my broker the ask needs to come down to 1.5005 for me to take 5 pips. But I can close the order manually at ASK 1.5010(1.5009) and make 1 pip as well?

So where is the difference. You have made 1 pip - commission and I have made 0 or 1 pip, because my broker uses a fixed spread.

Please enlighten me, thanks!


MB never take a trade against you - they just pass the trade to interbank market and if it is between current interbank market spread it will be filled.

Everybody can sell or buy at the same time. You are offering a price, somebody has to take it. Extreme would be - you can sell at ask-1 and buy at bid+1 and if the spread is wide enough, price fluctuations not too wide, you are quick enough and there is enough liquidity - you can make money doing this (probably not possible with retail brokers).

deeforex
rank: 50+ posts
rank: 50+ posts
Posts: 99
Joined: Tue Oct 31, 2006 5:46 pm
Reputation: 0
Gender: None specified

Postby deeforex » Sun Nov 09, 2008 7:25 pm

I've watched MB Tradings webinars twice and I still don't see how a TTO will allow me to Sell & liquidate (Buy) with a Bid price. I will watch for the 3rd time. Maybe the 3rd time is a charm and the mystery will get unlocked.

theperfectsun
rank: <50 posts
rank: <50 posts
Posts: 22
Joined: Fri Oct 03, 2008 5:28 pm
Reputation: 0
Gender: Male
Contact:

Postby theperfectsun » Sun Nov 09, 2008 7:27 pm

I have watched them too and I am not blind. I didn't see that as well. I might go with Ducascopy, at least they are reliable.
thank you



Good luck to you all!



www.elegance.si

www.befxtrader.com

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12778
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1331
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Re: Question?

Postby TheRumpledOne » Tue Nov 11, 2008 4:53 am

theperfectsun wrote:I don't understand one thing:

With let's say some other broker you have BID and ASK the same, the spread is the same:
1.5010 and 1.5015. You hit limit order on Mb trading at 1.5005 ok? I hit instant execution on my broker-fixed spread bandit.
We both get filed right away, so much I have learned when you make a limit sell under current BID price you get filled right in with MBtrading. (This might be good for news time).

So as you explained what happens. Price reaches 1.5005 and 1.5010. We both are covered, except you have to pay the commission, right?

We have TP at 1.5005. Than means when ask hits that line we take our TP.
I see the catch is here: with MB trading your TP gets executed when bid comes to 1.5005( ask is at 1.5009 as you said) so you take 1 pip profit?

Because on my broker the ask needs to come down to 1.5005 for me to take 5 pips. But I can close the order manually at ASK 1.5010(1.5009) and make 1 pip as well?

So where is the difference. You have made 1 pip - commission and I have made 0 or 1 pip, because my broker uses a fixed spread.

Please enlighten me, thanks!


Please post a detailed description like I did. I do NOT understand what you are talking about or asking.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

theperfectsun
rank: <50 posts
rank: <50 posts
Posts: 22
Joined: Fri Oct 03, 2008 5:28 pm
Reputation: 0
Gender: Male
Contact:

Postby theperfectsun » Tue Nov 11, 2008 8:03 am

Ok Tro, Dragon explained it to me on babaypips.com
For me, there is no difference if your broker, does not have slippage.
thank you



Good luck to you all!



www.elegance.si

www.befxtrader.com

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12778
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1331
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Jan 14, 2011 4:28 pm

It took them long enough...

http://finance.yahoo.com/banking-budget ... et=&ccode=

Look at the date of the first post of this thread!!


MB TRADING is the broker I use to trade:

http://therumpledone.mbtrading.com/forex.aspx
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12778
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1331
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Fri Jan 14, 2011 6:17 pm

Image

INTERBANK CHART

Did your stops get hit?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

User avatar
genlogins
rank: 150+ posts
rank: 150+ posts
Posts: 153
Joined: Wed Jun 23, 2010 3:39 pm
Reputation: 0
Gender: None specified

Postby genlogins » Fri Jan 14, 2011 6:26 pm

Everyone would loose on that one.

I am used to M1 and I would enter short about the midle of the 2nd red candle with a trailing stop at 2 pips behind.

1 Year ago I would take all bars. I know that wen big bar, reversal is at least 25 to 60% of that previous candle. So I would enter short and long.

But, that was 1 year ago, today I am a new person, specially with 30% account UP.

http://kreslik.com/forums/viewtopic.php?p=50889#50889
================================================

The Way To Money Is Using Simplicity And Take Small Loses

================================================

User avatar
TheRumpledOne
rank: 10000+ posts
rank: 10000+ posts
Posts: 12778
Joined: Sun May 14, 2006 9:31 pm
Reputation: 1331
Location: Oregon
Real name: Avery T. Horton, Jr.
Gender: None specified
Contact:

Postby TheRumpledOne » Tue Feb 01, 2011 8:33 pm

Well, you get my appreciation. When I was an IB, I would send out special indicators and other goodies.

Yes, you will have to send me an email so I can make sure you are on my list because, due to privacy rules, I can't get your name from MBT.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



Please do NOT PM me with trading or coding questions, post them in a thread.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “TheRumpledOne”