Wouldn't recommend using NT on this pair , although by backtesting its likely you could find plenty of occaisions when it would have worked . I trade this pair a little but use a different approach . Imho a different set of 'rules' apply here , being more widely traded than cable , the liquidity is greater - not so many spikes and sharp price movements .
Wouldn't recommend using NT on this pair , although by backtesting its likely you could find plenty of occaisions when it would have worked . I trade this pair a little but use a different approach . Imho a different set of 'rules' apply here , being more widely traded than cable , the liquidity is greater - not so many spikes and sharp price movements .
Seen an ad from an outfit called World Spreads , haven't had time to look into it properly but they appear to be offering spreads as low as 1 pip . Sounds a bit too good
to be true www.worldspreads.com/uk/
Paul, I cannot place links here but if you go to Youtube and type in the search forextradersdaily - take a look at some of the many videos - food for thought!
This does affect sb companies and they do not sit back and let it happen! The fact is that if you trade like this you will have to be prepared to move your money around different companies because they will eventually change things so that the method loses its edge!
mark120169
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Lets hope they don't suss out TNT then once we accumulate our accounts up to £1000 a pip!! , regular consitant wins 25-50 pips a week!
:cheesy:
mark120169
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Just gave them a call. Cable orders placed between 8am and 4pm Spread is 2 pips, orders outside those times spread is 3 pips.
So 90% of NT orders would be no different to IG / ETX.
For us I think Capital Spreads offers the best deal @ 2 pips standard for Cable if you don't need mobile phone apps.
M
paulhayes57
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mark
i do use capital spreads as well as ig and have found slippage a lot less problem with capital spreads
paul
I tested NT with eurjpy,just over a 6 month period and it was profitable (profit factor of 1.35) but nowhere near as good a scable.
mark120169
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Interesting. Also MF Glogal offer 2 pip spread on cable too, anyone use them or have used them?
M
Thankfully NT/TNT type wins are based upon a relatively (compared to news release trades) long timeframe... The SB firms have ample time to hedge their position if they suddenly receive a whole load of orders on one side of a trade at 06:30 for example...
The industry has changed for the better over the past 8 or so years... Back in 2003 - 2004 there were many brokers employing some very underhand techniques indeed... It was even suggested at that time to never to enter an automatic stop in with a retail broker as they knew where your stop was and people around that time suffered inexplicable large spikes (not seen on other trading platforms) hitting the stop instantly... Thankfully IG do not do that! But they are certainly guilty of massaging some extra profits from slippage.... There is no justifiable reason to slip prices in a non volatile market... Order execution should take fractions of a second even with a slow PC / connection...
If you execute orders over the phone it does NOT go like this:-
1. Could I have your price on GBP/USD please?
2. "xxxx ask, xxxx bid sir"
3. Could I BUY GBP/USD at xxxx
4. "Hang on a minute sir" [10 second pause]
5. "Sorry sir couldn't do that price I just said so I got you in here instead"
Can you imagine the type of abuse the broker would receive?
So why should it be any different when entering online through a direct data connection (Puredeal) which technically should be a whole lot quicker than by phone... (within a second)?
I guess Puredeal has no audio processing so cannot here you cursing at it or demanding an explanation...
Of course, there is always the email complaint route - but they were well used to dealing with that type of complaint long before NT was around...
Naturally this slippage maybe acceptable on longer term positions but it does rule out the viability of short term trades...
In the end you realise that these 'shady' methods are simply part of their business model - you live with them or look elsewhere...
I have a simpler explanation for slippage. First, we have a system with a proven history. Second, it is available to the general market. Third, it is now relatively well heard of on the market. Now, do you think it's just the retail traders who bothered to buy the manual/piece it together from the posts here? I am sure there are already some hedge funds around who are trading it in earnest. IG just reacts to the general market pricing.
mark120169
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Wags the dog has (kiddy watching "The Wiggles"
) Check Wags previous posts, he said it's good, not as good as NT but did not give any figures I think.
M
Ambrose Ackroyd
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Did you just 'coin' a new NT variant - 'F' NT or is that the name for the 'proffessional'
version ?. Some of these fund managers might as well be using FNT it might improve
their performance , or are our pension providers telling us 'Porkies' ?
What's wrong with that? If you have a system telling you to buy when your dog ****s, you backtested it for a couple of years and see positive results, do you think those guys would not buy your puppy? Yes they may refine it by certain filtering, and this would perfectly explain why slippage does not occur every time NT is triggered. The basic principle is still there and it does work and hence the funds must be using it.
Given that 90% of fund managers fail to beat the market anyway I don't see any merit in the "sophistication" argument against this idea.
mark120169
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Did you just 'coin' a new NT variant - 'F' NT or is that the name for the 'proffessional'
version ?. Some of these fund managers might as well be using FNT it might improve
their performance , or are our pension providers telling us 'Porkies' ?
Clav's.......read the front of your manual, if you have it of course!
M
peterf1966
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Fooking Net Trap! :cheesy:
mark120169
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Ahhhh........so this in why my MAN Group shares have gone to crap........they have just realised that Berkshire Hathaway managed to get in on the NT offer before it closed and they didn't.
I wonder if Warren Buffet sends as snotty emails to RH as me? Can you imagine.
"Richard you asswipe, Warren Buffet here. BH just lost $30m on a cable trade last week that was clearly a sell by your system as the MA was clear by 1 with no oppossing candles but you made it a "no Trade" in the email my PA has just received.
I sacked my whole Cable Forex team because of this and some ****** took your book with him so now we are stumped and losing even more money, what was the MA we use again?
Please explain why it was a no trade or we take out a $1 billion class action lawsuit jointly with Bank of America, Barclays Capital and City Group you limey ****! "
M
