Dealing desk brokers -avoid them!

oildaytrader said:
They work fine for me.A great expert advisor will remain profitable over the longer term,it will go through periods of losses and losing months.The secret is to make them survive in difficult market conditions and perform in dynamic market conditions.

99% of expert advisors you have seen are made for specific market conditions.They fail because markets are dynamic, and when market conditions change the expert fails.

All one requires is excellent execution and broker for my expert to work.It is one expert advisor made up from 11 different market conditions/systems/experts.I would never sell it,show it to anybody or license it.

Just look at the loosing periods and the overall winning performance.

The world's greatest trader, James symons of rennaisance technologies, use computerised models to trade.He is the world's greatest trader and beats Sorros and the lot for consistent performance.

Renaissance Technologies - Wikipedia, the free encyclopedia

O D T
Click to expand...

Ok maybe I should have clarified.

'expert advisors' fail because they are purchased by newbs who know less than zero about trading and just think they can buy a cheap, black box way to print money with little or no personal investment in time or expertise.

If your own system is self designed, and you know, understand and can adjust the way in which it works, that doesn't fall into the category of what I was talking about (sl@gging off basically). And I very much doubt the guys at Renaissance (thanks for the link, although in 15 years in the markets I can't say I hadn't figured out who they are) would call what they do an 'expert advisor' either.

But newbs buying something off the net fails on three counts

1) you probably lose all your money

2) Worse - you probably PAID someone to lose all your money for you

3) You learned precisely F**k all about trading in the process

clearer now?
 
ODL works like ECN/STP broker only for ODL's "Prime ECN accounts". The existing comission on these accounts confirmes that.
On ODL's others accounts,such as "Mini & Standard account" there are no comissions at all.On these accounts the ODL is a market maker for their clients.No doubt.
The second fact is that there are different spread style :fixed(on mini and standart) & variable(on prime accounts).
Thethird thing is with the trade platforms:MT4 for mini and standart acc. and Currenex, Lava FX , HotSpot FXi, Strategy Runner for the Prime accounts.
Btw, ODL doesn't like scalpers (I'm not a scalper) -ECN/STP broker doesn't care who their clients are ,scalpers or not.
ECN/STP brokers earns money on comissions and always welcome scalpers.
 
Dron09 said:
ODL works like ECN/STP broker only for ODL's "Prime ECN accounts". The existing comission on these accounts confirmes that.
On ODL's others accounts,such as "Mini & Standard account" there are no comissions at all.On these accounts the ODL is a market maker for their clients.No doubt.
The second fact is that there are different spread style :fixed(on mini and standart) & variable(on prime accounts).
Thethird thing is with the trade platforms:MT4 for mini and standart acc. and Currenex, Lava FX , HotSpot FXi, Strategy Runner for the Prime accounts.
Btw, ODL doesn't like scalpers (I'm not a scalper) -ECN/STP broker doesn't care who their clients are ,scalpers or not.
ECN/STP brokers earns money on comissions and always welcome scalpers.
Click to expand...

Your statements are incorrect.

ODL used to be a marketmaker on FX, marketmakers hate scalpers because they are slippery to make a market in, they are in and out of trades very fast.

They have abolished the old set up of commisions and different account types for fx.They did it last month.

ODL is the best outfit for metatrader fx.Odl'S fx IS S T P
 
oildaytrader said:
ODL is the best outfit for metatrader fx.Odl'S fx IS S T P
Click to expand...

of course,oildaytrade, I agree with you.
BUT : ODL is working as ECN/STP only on their "Prime accounts" with variable spread and + commissions. That's it what I wanted to say.
If you have mini account without comissions at ODL - ODL doesn't let you scalping,gives you requotes etc.
 
Dron09 said:
of course,oildaytrade, I agree with you.
BUT : ODL is working as ECN/STP only on their "Prime accounts" with variable spread and + commissions. That's it what I wanted to say.
If you have mini account without comissions at ODL - ODL doesn't let you scalping,gives you requotes etc.
Click to expand...

ODL have never had mini accounts, could be Alpari?
 
oildaytrader,
Alpari ?:) I know Alpari very well...

From the ODL site :
"Discover FX Starter Account"
*Minimum Deposit Euros €500
*Maximum Trade Size Euros €2,000,000
*Trade up to 400:1 Leverage
*Minimum lot sizes of 0.1
*Trade 20+ Currency Pairs
*24 hour Forex Trading

and from the other page of the ODL's site:
Key apsects of an ODL FX account
*Minimum FX account size of $2000
*Minimum transaction size:
$10,000 or €10,000 or £10,000 equivalent to $1, €1 or £1 per point
*Small size trading from 0.01 million - 100 million (equivalent to $1 / point - $50,000 / point)
*No slippage under normal FX market conditions. Auto-fills ensure transparency
*The widest variety of order types available We accept all orders; MARKET, LIMIT, STOP, OCO,
*Automatic closure of positions.

What is the difference? Explain me,please.

Try to see and I think you'll find there : Forex Brokers Reviews and Ratings
it's very helpful site ...Try to use "Broker Cyber search" (on the right side) also.
GL
 
I find it amazing that I am the only one on Earth who feels responsible for my own losses.. I'm so behind the times.. THANK GOD for this thread to finally expose the culprits..

According to so many waste-of-time threads it's the little Viet Cong [blanks] who keep [bleeping] me (and others) out of their money.. I've always thought it was a joke perpetuated by the disgusting Anglo-American war machine, but it turns out to be FOREX BROKERS??

Listen, I'm truly pissed off about this.. You guys FIND OUT who these *******s are and relay the information back to me because I think it's RIDICULOUS that I lose certain trades..

Honestly, is it the guys who pulled off that weak moon landing or the usual Zionist whatchamacalit? ..

Nevermind.. I have a covert squad working on this!

Just sit back guys.. I'M ON THIS!
 
Pippy5000 said:
I find it amazing that I am the only one on Earth who feels responsible for my own losses.. I'm so behind the times.. THANK GOD for this thread to finally expose the culprits..

According to so many waste-of-time threads it's the little Viet Cong [blanks] who keep [bleeping] me (and others) out of their money.. I've always thought it was a joke perpetuated by the disgusting Anglo-American war machine, but it turns out to be FOREX BROKERS??

Listen, I'm truly pissed off about this.. You guys FIND OUT who these *******s are and relay the information back to me because I think it's RIDICULOUS that I lose certain trades..

Honestly, is it the guys who pulled off that weak moon landing or the usual Zionist whatchamacalit? ..

Nevermind.. I have a covert squad working on this!

Just sit back guys.. I'M ON THIS!
Click to expand...

This is communist trading led by anti christians bolsheviks.All traders work for dealing desk brokers' interest.No wonder they all spring up from communist bloc.

Join the forex revolution against modern bolsheviks .

O D T
 
To avoid being caught out by a dealing desk bucketshop ,search on google using the following words and add the broker's name to the search criteria

FOREX,BUCKET SHOP,STOP HUNTING,SCAM,HONEST, DEALING DESK,SPREAD WIDENING

If it a search for FXCAST use

FXCAST ,FOREX,BUCKET SHOP,STOP HUNTING,SCAM,HONEST, DEALING DESK,SPREAD WIDENING

Just beware most of the review sites are scam sites.Many reviewers are sponsored by dealing desk brokers for misinformation to con traders.

Google
 
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Most brokers will claim they have NO DEALING DESK .In reality they have dealing desk software ,the software replaces the dealing desk.

Why do they even have to state they no dealing desk.Why mention it?

The dealing desk frequently trades against traders using dirty tricks.These brokers want to give the impression they are good and honest, but look at their trail of misdeeds against traders .It is available freely on the net.
 
Can someone give me good explanation? What is the differences between marketmaker, ECN and dealing desk?
Thanks! I think I know, but I wanna have it very clear..
Great forum here, I’ve seen very interesting topics discussed ;)
 
I also use ODL and DBFX , for FX I found no better than CME ....:D
My first real account was GCITRADING , they delay my orders 20 -60 seconds ...
The boss of them say : that is normal ...
One day later I close the account .....:mad:
In the streets of my city I meet a lot of traders all were scamed by them ....
This was 3 years ago , but this firm is still alive .....
Like I would say bad firms live longer .....
oildaytrader said:
Dealing desks do not help,if they delay order execution and you miss your winning trades.
Click to expand...
 
piparb said:
I also use ODL and DBFX , for FX I found no better than CME ....:D
My first real account was GCITRADING , they delay my orders 20 -60 seconds ...
The boss of them say : that is normal ...
One day later I close the account .....:mad:
In the streets of my city I meet a lot of traders all were scamed by them ....
This was 3 years ago , but this firm is still alive .....
Like I would say bad firms live longer .....
Click to expand...

I would like to trade automated on C M E .What is easiest route?
 
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