Trick 1
OPEN OPEN buy and sell when the Open Market (change daily). BUY STOP about the difference of 10 pips above the previous price CLOSED SELL STOP and day difference with 10 pips below the price the previous day, also CLOSED. Place a Take Profit of 10 pips from the market price or sell SYOP stop. When a position was reached, CANCEL another location. Suppose that the position of the first STOP BUY achieved with the market position for the next SELL STOP CANCEL, and vice versa. Thus, in the hope of Take Profit of 10 pips is reached, then you will have the opportunity to take profit of 200 pips in 1 month (20 trading days).

Trick 2
Do the same at the time but the free market BUY STOP to make the difference between 10-15 pips above the price Tertinggi (HIGH) and STOP SELL difference to 10-15 pips below the price lower (LOW) the previous day.

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I have to tell my experience about my trading with FXopen.

Last month I opened 2 live accounts to trade EURGBP with two forex EA’s
1)YourLucky
2)Thunder

In the first days, It was good but suddenly I began to lose.. to keep a track I did start to compare the quotations with others brokers like Tadawulfx, GTLonline and GoMarkets. All these three stay on a margin of +2 or -2 pips, which is good, but when I compared with Fxopen, the difference became until 20 pips!! Always on the assian session! and always against you!!
Can you believe it???!!!
So I start to realize that they weren’t honest forex brokers…

BUT THIS IS NOT THE WORST!!!
I joined an IB which rebate me 80usd per 10 lots. I informed FXopen about my subscription to their IB with the referral link and I did just like they ask me to join, but at the end of the month I didn’t receive nothing ..??!!
Then I contacted FXopen and this is what they told me:

From: FXOpen [mailto:finance@fxopen.com]
Sent: Miércoles, 08 de Abril de 2009 01:25 a.m.
To:
Subject: Re: Acc. 168355 and 168353 not under IB ID.97465

Dear finance department,

In the last month I opened two accounts (168355 and 168353) under http:// xxxx.com/ IB. ID 97465. I got surprise when asking for the rebate, the IB in mention told me that those accounts are not registered under them? I have made almost 20 lots on those accounts and I need you to clarify this situation and make the proper payment to them so they can refund me.

Many thanks,

—————————————————————————-
Hello,

according to our database accounts 168355 and 168353 have been opened directly from our website without using any referral’s link.

————————————————————————
From:
Sent: Miércoles, 08 de Abril de 2009 08:50 a.m.
To: ‘FXOpen’
Cc:
Subject: RE: Acc. 168355 and 168353 not under IB ID.97465

Dear Sirs,

I am done with your lack of professionalism. I will make sure that this story be in all the possible forex forums available.
You have lost one customer and you will gain bad feedback in all the forex forums.
Thiefs !

THEY STEAL MY REBATE!!!

I DON’T WANT THIS SAME THING HAPPEN TO YOU!!! IF YOU WANT A TRUE AND HONEST BROKER DONT GO WITH THEM, THEY WILL DO THE SAME THING TO YOU!!

Incoming Forex terms:

• forex ea experience
• fxopen id

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We, people who have less than $10,000,000 (ten million dollars) are considered as retail traders. And we are only allowed to trade using retail brokers. We are not allowed to trade in institutional broker. If all retail brokers are scammers, then we are all doomed.
In fact, there are people who have been living comfortable by trading full time, and their account size is nowhere near 10 millions.

I also don’t think that ECN brokers are also doing this. ECN gains no profit / loss by playing with our account. What ECN wants is that you trade more lots. Of course there is a case that if you are counted as 1 of the people with the biggest profit, then the ECN will let the market marker play with your account. But, I think that is your fault also. Why? Because in a big and reputable ecn brokers, there are many successful trader, so your account is not sticking their eyes. If you are choosing a small ecn broker, that is your problem and your fault imho.

What I find true, is that all small traders have the highest risk in this industry. If you are investing, but not trading, in this market, you could survive. If you are trading, you have less chance to survive.

e.g. You are a scalper, you take profit for 10 pips and your stop loss is 7 pips. Because you are successful scalper then your broker is playing with you. They play with slippage between 3 – 5 pips. Your 10 pips take profit become 5 pips profit, and your stop loss become 12 pips stop loss. In some of the EAs here, the TP is 5 pips and SL is 35 pips. After the slippage, the TP would be 0 pip and the SL would be 40 pips. Imho, you’re lost and doomed.

e.g. You are a long term investor, your take profit is 400 pips and your stop loss is 100 pips. Because you are a successful investor, the broker is playing the slippage card, between 5 – 7 pips (of course if the slippage is too large and you still use that broker, then you should move. If not, that’s your fault). Your take profit become 393 pips and your stop loss become 107 pips. Imho, you still win.

That is why, I try to avoid any kind of scalping trading system or EA. I don’t even want to test them. I don’t even download them, it’s a waste of disk space. If it has a good indicator, I’ll download, but I’ll never use the system / EA. Imho, scalpers are at the lowest of the food chain and should really take good care of oneself.

In fact, there are many scalpers who would argue with me about this matter. So, to state that all retail brokers are scammers, is not appropriate IMHO.
After all if all retail brokers are scammers, where should we trade?

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Let me give you the difference’s sample:

Market Maker: Online Retail Broker who will take the other side of your trade (aka: they trade against you, when you buy they will sell and vice versa), they have a somewhat shady algorithm to calculate their net exposure and cover their risk by sending order to interbank market.
eg: Joe buy 3 lots EURUSD and Jane sell 2 lots EURUSD, Market Maker simply match Joe and Jane orders (2 lots) and they sell 1 lot EURUSD to match the rest of Joe’s order. They will also buy 1 lots from interbank market to cover the 1 lot they sell to Joe.

NDD = Non Dealing Desk. It’s about the same as Market Maker. I think it’s more of marketing hype.
eg: FXCM, IBFX claim to be NDD, but we all know they both are one of the biggest Market Maker.

ECN is supposed to pass your orders straight to interbank market, so ECN should not trade against you.

Let me give you more details:
Because for every buy, there must be someone who sell, vice versa.
So for the rest of Joe’s buy order to be executed, someone MUST sell 1 lot EUR-USD. Because nobody else is selling EUR-USD, Market maker MUST sell 1 lot of EURUSD to Joe. After they sell it, they have risk when price go up (aka: when Joe is winning, they will lose). In order to cover that risk, Market maker should buy 1 lot EURUSD from interbank market to cover their risk. (so when price go up or down, they will not lose, cause they have 1 sell and 1 buy).

Market Maker makes money from the spread. let’s say that the spread is 2 pips, so from the example above they will receive 6 pips from Joe, 4 pips from Jane. They also have to pay the spread for 1 lot they buy from interbank which will probably be around 0.5 pips. So they will receive about 6 + 4 – 0.5 = 9.5 pips.

Now, if Joe is constantly losing, some Market Makers won’t cover that 1 lot EURUSD they sell to Joe. They simply sell it to Joe because Joe will lose anyway, and when Joe is losing, they will win.

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• difference ecn desk
• why ndd or ecn?

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