Tooling and execution
Latency
The delay between an action and its effect - an order leaving your machine and reaching the venue, or a price leaving the venue and reaching your screen. Measured in milliseconds.
GFN’s figure
GFN accounts run on desktop, web browser and mobile. Strategies that attempt to exploit delays between price feeds rather than to profit from market analysis are prohibited.
In detail
Latency,explained
For almost every discretionary and swing strategy, latency is irrelevant: the difference between 5ms and 50ms is invisible against a stop measured in tens of pips.
It becomes decisive only for strategies whose entire edge lives inside those milliseconds - and strategies built on exploiting the delay itself are prohibited rather than merely difficult.
Related
Terms thatcome with it
Most rules only make sense next to the ones they interact with. These are the entries this one depends on.
Latency arbitrage
Trading on a price that is known to be stale because a faster feed has already moved. It profits from a delay in the environment rather than from any view about the market, and it is prohibited industry-wide.
VPS
A rented always-on server used to run trading software continuously. It keeps an automated strategy running through a local power cut, a lost connection or a closed laptop.
Execution
The process of turning an order into a filled position - the price received, the delay before it arrives, and whether the order is filled in full. It is where a strategy meets reality.
High-frequency trading
Automated trading at very high order rates and very short holding periods, measured in seconds or less. It depends on infrastructure rather than analysis, and it is not what a retail prop account is built for.
Slippage
The difference between the price requested and the price filled. It appears when the market moves between order and execution, and it is most pronounced around news and at thin points in the session.
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