Real work on MT5 NDD - page 20
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Disagree and what - not open up at all?
I think it only makes sense to talk about the type of execution if it is part of the strategy.
In the example of the first post it is a matter of philosophical 50 pips.
Not only part of the strategy, but in the simple presence of other types at the broker.
My broker, for example, has only this execution type for MT5.
I am not sure what to do with it.
hrenfx: Все участники рынка, включая крупных, на спот-FOREX котируют "пятизначно".
Go to the ECB website, they have four-digit rates. For EURUSD, for EURCHF as well. This is a kind of indicator, "worldwide" as they say. We look at Reuters and it has four digits. We look at Bloomberg and it is four digits again.
Next, we look into a real account at a foreign bank and try to buy four-digit Euros. I would like to stress that this is a real currency exchange transaction, not some numbers in the terminal. I tried to exchange dollars for euros again and the rate was four-figures.
What do I get? In reality, all the major regulatory and information organisations quote four digits. When it comes to the real exchange of currencies, again four digits. Futures, four signs. And somewhere out there in the virtual, there is a fifth mark.
Barclays has an interesting phrase on their website, that their FX platform was the first to offer Precision Pricing to their clients in 2005. That is, this extra decimal point. As they write"The extradecimal point gives customers unprecedented flexibility in pricing and execution."
PS. by the way, even tried to look at EBS. the same ebs which reports hundreds of billions of currency trading volumes. it was impossible to get to the demo, but judging by the materials from the site there is also a four digits.
You should not confuse conservative ostentation with the real state of affairs. If you have a large amount to exchange, you can call the foreign exchange department and negotiate (haggle with the manager) an individual exchange rate. If you want you can set a six-digit rate. And you will be met. As with such an exchange, the sampling step does not matter at all.
Showing four digits is an old-fashioned approximate exchange rate, which is justified. But it does not apply to modern electronic spot trading practices.
The above post detailed the vital need for a fifth digit, and it is implemented in practice by all market participants.
On EBS it is the five digits. In order not to repeat, you can read about the FOREX-platforms nuances very carefully here.
P.S. FOREX is rapidly changing and transforming. For example, in March this year through CLS-bank was exchanged a total of $5 trillion, which allowed to remove from the long-established pedestal such titans as ICAP EBS and Reuters.
You should not confuse conservative ostentation with the real state of affairs. If you have a large amount to exchange, you can call the foreign exchange department and negotiate (haggle with the manager) an individual exchange rate. If you want you can set a six-digit rate. And you will be met. As with such an exchange, the sampling step does not matter at all.
Showing four digits is an old-fashioned approximate exchange rate, which is justified. But it does not apply to modern electronic spot trading practices.
The above post detailed the vital need for a fifth digit, and it is implemented by all market participants in practice.
On EBS it is the five digits. In order not to repeat, you can read about the FOREX-platforms nuances very carefully here.
P.S. FOREX is rapidly changing and transforming. For example, in March this year a total of $5 trillion was exchanged through CLS-bank, which allowed taking such titans as ICAP EBS and Reuters off their long-standing pedestal.
CLS bank is just a payment system for the interbank, it can't take anyone off from anywhere. Regarding ICAP's five digits, there was information that they might switch to it, but I haven't seen it myself. But, in essence, it doesn't change much. There is the concept of marketplace, and there is OTC, translated literally "from under the counter". There is nothing wrong with it, everyone chooses what he likes. If your strategy can't live without that little rattle around the fourth digit, well then it really is a "vital necessity". But not for the whole market, but specifically for your strategy and a whole class like it. I, personally, am not attracted to such strategies.
PS. Actually, I don't see any point in discussing the five digits further. Obviously, the positions on this issue cannot be reconciled.
You are a stubborn, unreasonable man. I have converted relatively large sums of money with foreign banks on several occasions, so I know exactly how it works. So to speak from personal practical experience.
UBS, Citi, DB and others quote five figures, but you will not be satisfied. There are theorists and there are practitioners. You seem to be more of the former.
Now a simple question, look here, for example on EURUSD. Who wants to trade on EURUSD with a spread of 10 pips (five digits), instead of being able to trade with an average spread of 4 pips? If the strategy is thick-skinned, that doesn't mean you have to give a damn about the trading conditions. The choice of broker is the most important part of trading.
Again, if trading conditions are not important, you'd better not feed the broker, and help the needy children with extra profits from better trading conditions.
P.S. Once again it's all down to piss-poor ranting.
You are a stubborn, unreasonable man. I have converted relatively large sums of money with foreign banks on several occasions, so I know exactly how it works. So to speak from personal practical experience.
hrenfx:
UBS, Citi, DB and others quote five figures, but you will not be satisfied. There are theorists and there are practitioners. You seem to be more of the former.
And now a simple question, look here, for example on EURUSD. Who wants to trade on EURUSD with a spread of 10 pips (five digits), instead of being able to trade with an average spread of 4 pips? If the strategy is thick-skinned, it doesn't mean that you should not care about the trading conditions. The choice of broker is the most important part of trading.
Again, if trading conditions aren't important, then don't feed the broker, but help the needy kids with extra profits from better trading conditions.
Hrenfx:
P.S. Once again, it's all come down to pissing and gibbering.
You are confusing a cash exchange with a non-cash exchange, when your money is already fully (without any suspicion, respectively) in a bank account. I have a Russian passport myself. In foreign banks it is even easier - non-resident.
It's strange that you talk about MT4. I do not understand what a third-party platform has to do with pricing laws. Or is it about assessing knowledge based on a worthless PAMM?
Spread, that's not all that people care about in the market. Some people believe, based on the sum of factors, that forex with its small pips is not suitable for them.
You are confusing a cash exchange with a non-cash exchange, when your money is already fully (without any suspicion, respectively) in a bank account. I have a Russian passport myself. In foreign banks it is even easier - non-resident.
No, I'm not confused. Once again, it's practical experience. Clearly, there are different experiences. I had this one. That doesn't mean everyone will have it.
It's strange that you talk about MT4. I do not understand what a third-party platform has to do with pricing laws. Or is it about assessing knowledge on the basis of a worthless PAMM?
Well, tell us about the laws of forex pricing. I have information that nobody knows these laws, in fact. They say the specifics of the market and show their hands. This is if to look at the details. And if you look at the movements within pips - there are nuances.
Which pips are we talking about? I don't know.
The main factor for them is squeamishness.
It's about a philosophical 50 pips in the example of the first post.
Not only part of the strategy, but also in the simple availability of other types at the broker.
I mean my broker has only this execution type for MT5, there is no other.
It becomes like theory for theory's sake.
Of course, it's very useful to understand all the intricaciesbefore you start working, but in this case you might not get to that point...
I agree with the example, instant execution on a strong move will avoid entering at a much worse price.
And about the broker - there's more than one, pick one that suits you.
Regarding the importance of execution. Every extra pip of profit, every cent of commission, has a direct impact on the MO of the strategy. Even a minuscule change in the MO of hundreds or thousands of trades yields a final tangible result.
I couldn't agree more, it's mathematics.
I was just saying that a bad strategy cannot be saved by a small spread.
And not every trader will make several thousand deals (not with micro lot). And the reason is not the commission...
P.S. The brokerage companies cannot compete with ECN/STP by trading conditions.
Can i send you a link with a recommendation?