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Go Markets any good for forex?

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It'd be great if someone could do an analysis of the spreads.

I might actually fund a small account and start ripping it up if it's good (see how much they like scalpers then :))
 
tayser said:
It'd be great if someone could do an analysis of the spreads.

I might actually fund a small account and start ripping it up if it's good (see how much they like scalpers then :))
Click to expand...

It will still be the same old MM "@ market" orders. Scalping with that is like brain surgery with an axe. I wouldn't be bothered.
 
can it really be a true ecn if it doesnt charge commission?

i have an account, hopefully it works out for the better
 
white_goodman said:
can it really be a true ecn if it doesnt charge commission?

i have an account, hopefully it works out for the better
Click to expand...

ECN-style - why they dont just call it variable spread is beyond me. must be thanks to the 'ECN' marketing. every transaction is its own market - so by definition every trade is a MM trade.

i concur though. be interesting to see.
 
ive been watching the pound early to see what kind of variable spread they have been offering early on in the week.

the spread has been about 5 pips, sometimes out to 6 during the first hour. on fixed spreads it was 3.

lets see where it goes once more liquidity comes through from their counter parties.
 
Stormin_Norman said:
ive been watching the pound early to see what kind of variable spread they have been offering early on in the week.

the spread has been about 5 pips, sometimes out to 6 during the first hour. on fixed spreads it was 3.

lets see where it goes once more liquidity comes through from their counter parties.
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I can see some complaints coming over the next couple of weeks/months. People without any execution skills trading "@ market" chasing variable spreads. Frequent traders equity curve will soon show that just being right about a chart is only about 30% of the game. Chopped to bits. :(

How do you go long go markets?? :D
 
Stormin_Norman said:
what do u mean?
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Punters are use to hitting a button and getting into their $5 per pip trades at no more than 2-4 pips away from what they can sell at. Most haven't a friggin clue how to get into a trade using the spread, in fact you cant because you have to buy/sell @ market. But with ECN type quotes that spread is going to jump wide open just as they want in and just as they are getting stopped out. This is going to shave heaps off peoples expectancy.

For my own trading I know I would blow up in about a week if I used that @ market button for scalping. And I'm reasonably sure I have a bigger edge than most :eek:
 
Trembling Hand said:
Punters are use to hitting a button and getting into their $5 per pip trades at no more than 2-4 pips away from what they can sell at. Most haven't a friggin clue how to get into a trade using the spread, in fact you cant because you have to buy/sell @ market. But with ECN type quotes that spread is going to jump wide open just as they want in and just as they are getting stopped out. This is going to shave heaps off peoples expectancy.

For my own trading I know I would blow up in about a week if I used that @ market button for scalping. And I'm reasonably sure I have a bigger edge than most :eek:
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that's what i thought u were meaning.

yeah, itll be an interesting week - see how the bunjip goes through it.
 
cable back to 3 spread now (same as under fixed) now japan has opened.

just noticed it go out to 4 and come back to 3. so jumping between the two.
 
Stormin_Norman said:
yeah, itll be an interesting week - see how the bunjip goes through it.
Click to expand...
i guess that depends whether the bunjip make entries using limit orders or market orders. With limit orders you can try to go inside the spread.

Also does gomarkets quote prices with 4 or 5 decimals? I think a pseudo-ecn would be 5 because they quote an average price of what's available.
 
market orders to enter, TP (which are essentially limit orders) to exit.

atm however im having connection problems, could be linked to their new data feed + my firewall or could be their end.
 
Stormin_Norman said:
market orders to enter, TP (which are essentially limit orders) to exit.

atm however im having connection problems, could be linked to their new data feed + my firewall or could be their end.
Click to expand...

Nah I have an account with them as one of my back ups. Been running it today just to have a look at the FX. I have now closed it because I'm sick of the stupid noise it makes whenever it drops out ever 5 min!!!

!!
 
youre getting drop outs too??

customer service said i was the only one, meanwhile i could hear another operator in the background saying 'so you cant log in'. :eek:
 
Stormin_Norman said:
youre getting drop outs too??

customer service said i was the only one, meanwhile i could hear another operator in the background saying 'so you cant log in'. :eek:
Click to expand...


Go Markets – FX Update

Dear Client,



As stated last week we have now launched our new FX price feed this morning. The feed gets quotes from a wide range of institutions enabling the best bid/offer rates available in the market and helps to improve trading conditions.


Some clients have today experienced connectivity issues. Our IT have isolated the problem and are working to have this resolved ASAP. Please note this is unrelated to the price feed which is running without issue.
Click to expand...

lying arsewipes. i can handle 'sorry having issues with the new feed' what i dont like is being outright lied to.

i will be calling them up and speaking to a manager about that.

not impressed with being told rubbish.
 
SHEEEZzz their SPI contract closed an hour early !
Daylight saving is over """""

:shake::shake:
 
Shocking service, they still have connection problems!

I think it has been a problem since opening this morning now,,,,

Bl00dy disgraceful!

I can see some margin calls with those who run bots, when it eventually comes back online look out.
 
It's odd that my connection has been good all day, since logging in at 10:09 today (Perth time). Even whilst chattin' with Stormin' this mornin' I could trade and he couldn' (poetry aint it!)

??


wabbit :D
 

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