Pharaoh
Brigadier General
- Messages
- 20,310
At last, at least a modest amount of real evidence to look at. Still, I see multiple flaws with Paul's argument.
1. Some trades were left undisturbed for a month or so. If there really were off-market trades, these should have been detected and adjusted within a reasonable time frame.
2. If the trader had such a colorful history, why wasn't he warned sooner?
3. Unless AvaTrades is a complete bucketshop, grabbing the "on market" portion of the profits made is taking money that was earned by the trader.
4. A 5 or 10 pip off-market entry on a trade than makes 85 or 100 pips is not the hallmark of an arbitrage trader.
5. Frequently being 5 or 10 pips off-market during fast movements sounds like a serious flaw in the backend infrastructure of AvaTrades. If Ava can't handle trades placed around news events, the company needs to ban news trading. Alternatively, AvaTrades should just serve the Bloomberg feed and end the issue.
Paul, I have some questions, and I hope they can be answered within a reasonable period of time.
1. Starting from the first off-market trade, how many trades:
a. entered at an off-market price.
b. exited at an off-market price.
c. were on-market for both entry and exit.
2. How much money was gained/lost by trades that had an off-market entry or exit?
3. If those trades were adjusted, how much money would be gained/lost?
4. How much money was gained/lost by on-market trades?
1. Some trades were left undisturbed for a month or so. If there really were off-market trades, these should have been detected and adjusted within a reasonable time frame.
2. If the trader had such a colorful history, why wasn't he warned sooner?
3. Unless AvaTrades is a complete bucketshop, grabbing the "on market" portion of the profits made is taking money that was earned by the trader.
4. A 5 or 10 pip off-market entry on a trade than makes 85 or 100 pips is not the hallmark of an arbitrage trader.
5. Frequently being 5 or 10 pips off-market during fast movements sounds like a serious flaw in the backend infrastructure of AvaTrades. If Ava can't handle trades placed around news events, the company needs to ban news trading. Alternatively, AvaTrades should just serve the Bloomberg feed and end the issue.
Paul, I have some questions, and I hope they can be answered within a reasonable period of time.
1. Starting from the first off-market trade, how many trades:
a. entered at an off-market price.
b. exited at an off-market price.
c. were on-market for both entry and exit.
2. How much money was gained/lost by trades that had an off-market entry or exit?
3. If those trades were adjusted, how much money would be gained/lost?
4. How much money was gained/lost by on-market trades?