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High Volume & Big Size


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High Volume & Big Size

  #1 (permalink)
jasonmomoa
Geneva Switzerland
 
Posts: 1 since Apr 2015
Thanks Given: 0
Thanks Received: 0

Hi,

I'm looking for some advice...

I'm currently trading spot forex with Dukascopy. I'm daytrading. My position size is between 30 and 50 millions per trade on EURUSD. I'm taking on average 3-4 positions per day. I'm doing on average 3 billions per month.

I'm trading with Dukascopy for about 5 years now and I've noticed a lot of changes these last 6 months. Their platform is becoming more and more unstable. Their executions are becoming slower and slower. And their slippage is just UNACCEPTABLE. They are advertising that they can execute on EURUSD an order between 100 and 200 millions with one click almost instantly and with almost no slippage. A BIG LIE!!!

I'm trading on average 30M to 50M per trade and the execution of my order is just a joke. It takes almost 5 seconds to be executed and the slippage is just ridiculous (more than 10-15 pips) even though it shows on the depth of market from their "market place" liquidity of 200 millions. It seems to me that they simply became a MARKET MAKER. Yes they are an ECN but they also are a bank now and so they can be the other side of your trade.

I've never worked for any financial institution (bank, hedge fund, etc...) and so I don't have any knowledge about what to do to trade large orders.
I'm sure that I have to change my broker but I have no idea where to go!!!

Does anybody know a GOOD broker that fits my trading? Do I have to go to some sort of "institutional" broker?

Any advice would be much appreciated!!!

Thank you.

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  #3 (permalink)
 garyboy275 
wa/ usa
 
Experience: Intermediate
Platform: Rithmic
Trading: "CL ES 6C 6E" NQ only nowadays
Posts: 266 since Oct 2012
Thanks Given: 202
Thanks Received: 454


Why not trade Forex thru futures-more transparent

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  #4 (permalink)
 traderwerks   is a Vendor
 
Posts: 692 since Jun 2009
Thanks Given: 436
Thanks Received: 465

Forex Liquidity has been drying up recently. You may want to take a look at Reuters matching ( I have never used them )

Math. A gateway drug to reality.
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  #5 (permalink)
 
fido's Avatar
 fido 
Bangkok, Thailand
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Ninja Trader Brokerage/Continuum
Trading: ES
Posts: 46 since Nov 2010
Thanks Given: 174
Thanks Received: 56

With that kind of size you might want to take a look at something like Baxter FX.

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  #6 (permalink)
street
Seoul South Korea
 
Posts: 14 since Jun 2014
Thanks Given: 0
Thanks Received: 6

You should either trade FX futures or use a reliable broker like Interactive Brokers which allows FX trading.

But trading 30 million to 50 million a pop in EURUSD shouldn't be that much of a problem.

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  #7 (permalink)
mangolassi
Boston, MA
 
Posts: 166 since Dec 2014
Thanks Given: 61
Thanks Received: 126

First of all, you have some balls to day trade such a large position size on an unregulated exchange.

Second of all, depending on your trading hours and your trading method/strategy, you can solve your problem by switching to liquid futures like the ES. If you want to go with 6E, you might be limited by your size because 50 million units of EUR/USD on the spot market is equivalent to 400 contracts of 6E. I don't believe the 6E is liquid enough to handle such a large order, even during peak liquidity. But in any case, you may want to seriously reconsider the instrument you are trading.

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  #8 (permalink)
 PeakGrowth 
Sydney, Australia
 
Experience: Intermediate
Platform: Sierra Chart, IRESS
Broker: IB, IQFeed
Trading: ES, SPI, ASX stocks, options
Posts: 399 since Jun 2015
Thanks Given: 169
Thanks Received: 465


mangolassi View Post
First of all, you have some balls to day trade such a large position size on an unregulated exchange.

Second of all, depending on your trading hours and your trading method/strategy, you can solve your problem by switching to liquid futures like the ES. If you want to go with 6E, you might be limited by your size because 50 million units of EUR/USD on the spot market is equivalent to 400 contracts of 6E. I don't believe the 6E is liquid enough to handle such a large order, even during peak liquidity. But in any case, you may want to seriously reconsider the instrument you are trading.

Unregulated doesn't mean anything, banks do it all day every day through ECN, it's the broker's liquidity pool that's the issue. Unregulated is only an issue if it's a bucket and no bucket is gonna take that size (and Dukas is obviously not a bucket).

Changing to ES doesn't make sense either, EURUSD FX volumes are a hell of a lot larger than ES and his edge is obviously in FX.

OP, for a guy your size you are classified as an insto so you should talk directly to any bank and plug right in to their liquidity. You don't need to go to a retail broker.

Just noticed this is from April, why was it dredged up? No less by a bad answer.

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  #9 (permalink)
voluma
Singapore
 
Posts: 65 since Apr 2015
Thanks Given: 15
Thanks Received: 8


jasonmomoa View Post
Hi,

I'm looking for some advice...

I'm currently trading spot forex with Dukascopy. I'm daytrading. My position size is between 30 and 50 millions per trade on EURUSD. I'm taking on average 3-4 positions per day. I'm doing on average 3 billions per month.

I'm trading with Dukascopy for about 5 years now and I've noticed a lot of changes these last 6 months. Their platform is becoming more and more unstable. Their executions are becoming slower and slower. And their slippage is just UNACCEPTABLE. They are advertising that they can execute on EURUSD an order between 100 and 200 millions with one click almost instantly and with almost no slippage. A BIG LIE!!!

I'm trading on average 30M to 50M per trade and the execution of my order is just a joke. It takes almost 5 seconds to be executed and the slippage is just ridiculous (more than 10-15 pips) even though it shows on the depth of market from their "market place" liquidity of 200 millions. It seems to me that they simply became a MARKET MAKER. Yes they are an ECN but they also are a bank now and so they can be the other side of your trade.

I've never worked for any financial institution (bank, hedge fund, etc...) and so I don't have any knowledge about what to do to trade large orders.
I'm sure that I have to change my broker but I have no idea where to go!!!

Does anybody know a GOOD broker that fits my trading? Do I have to go to some sort of "institutional" broker?

Any advice would be much appreciated!!!

Thank you.


rather than looking for so called ECN broker, it's better look for FIXED spread broker ( the spread will be fixed no matter what's the market condition, so they won't be any slippage) . Cheers

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Last Updated on September 10, 2015


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