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Forex is profitable ?

togr (togr)
May 16 2018 at 06:00
4862 zpráv(a,y)
ComebackKing posted:
My point is that scalping is better done with currency futures. For the record, I don't scalp currencies at all. I do trade the ES but I'm also not scalping that and I only started to dabble in FX since I'm consistent with my ES trading.

I've stated my opinion and the reasons behind it. If I were to scalp or even trade currencies intraday I'd do so via futures on the CME, but I'm familiar with that exchange and the markets there. I don't like broker spreads, they are arbitrary and you're instantly losing money as soon as you enter a trade. That's not the case with futures (not counting commissions). I do chat with a professional FX trader quite often and he shares my opinion; actually he had that opinion before me :-) Regarding commissions, with the leverage in futures and dollars per tick, they end up being a very minor cost. If you're trading the Yen then 1 tick will cover the cost of your commissions. I trade the ES and 1 tick is worth $12.50, so even if I close a trade for a 1 tick profit, which is basically a scratch, I'm still making money. The opening move in the ES this morning was 50 ticks to give you a little context. Futures trading can get expensive very, very quickly if you're on the wrong side of the market - that's a big benefit of FX - you can be wrong and not lose a ton of money if you're trading micro lots.

In the end it does not matter to me if someone scalps FX or futures or whatever else, there's nothing in it for me either way. I do think that one owes it to one's self to at least explore all available options, even try them out to see what best fits. I've traded stocks, options, crude oil, gold and corn before I finally decided on S&P index futures. To me it's like going to college, you should take a few courses and see if something fits you.


No offense as I wrote I do not trade futures.
But IMHO whenever you open trade you are in minus as you have to pay trading cost be it omission or spread.
... don't like broker spreads, they are arbitrary and you're instantly losing money as soon as you enter a trade. That's not the case with futures (not counting commissions). ..
So at the end what is the difference?

krayziejohnny
May 16 2018 at 06:28
2 zpráv(a,y)
how do you trade futures with no spread? broker name, etc? whats CME AND ES stand for? very curious right now


thanks!

ComebackKing
May 16 2018 at 13:37
37 zpráv(a,y)
krayziejohnny posted:
how do you trade futures with no spread? broker name, etc? whats CME AND ES stand for? very curious right now


thanks!


Apex, Optimus and AMP are brokers I am familiar with but there are hundreds out there, just like FX brokers. You would have to do research and decide from there, I cannot explain all of the in's and out's here.

togr does make a valid point in that with FX there is a spread and that is your cost whereas with futures there is commission and that is your cost so in either case your entering into a minus sum game and there's no getting around that. The CME (Chicago Mercantile Exchange) is a regulated exchange and operates with a level of transparency that's not available in FX, just given the nature of FX. This is why trading volume is meaningless in FX as any volume information will just be from your broker. In futures, contract volume has actual meaning as this is THE marketplace for all transactions. No dark pools or off exchange transactions. There are iceberg orders and things of that nature but all volume comes through the same portal. The price ladder or order book shows all resting orders at each given price level for everyone trading the given market. You're just not going to see that with FX.

Mind you, I'm only talking about scalping here. If you're intent is to enter a trade and hold it for 6 months, futures may not be the best vehicle as futures contracts expire so you'd be dealing with that. But for scalping, which to me is high frequency trading for single digit pips, there's just no question that futures is the better option. But you'd have to really explore both and make that decision.

Hopefully this helps a little.

krayziejohnny
May 17 2018 at 05:52
2 zpráv(a,y)
ComebackKing posted:
krayziejohnny posted:
how do you trade futures with no spread? broker name, etc? whats CME AND ES stand for? very curious right now


thanks!


Apex, Optimus and AMP are brokers I am familiar with but there are hundreds out there, just like FX brokers. You would have to do research and decide from there, I cannot explain all of the in's and out's here.

togr does make a valid point in that with FX there is a spread and that is your cost whereas with futures there is commission and that is your cost so in either case your entering into a minus sum game and there's no getting around that. The CME (Chicago Mercantile Exchange) is a regulated exchange and operates with a level of transparency that's not available in FX, just given the nature of FX. This is why trading volume is meaningless in FX as any volume information will just be from your broker. In futures, contract volume has actual meaning as this is THE marketplace for all transactions. No dark pools or off exchange transactions. There are iceberg orders and things of that nature but all volume comes through the same portal. The price ladder or order book shows all resting orders at each given price level for everyone trading the given market. You're just not going to see that with FX.

Mind you, I'm only talking about scalping here. If you're intent is to enter a trade and hold it for 6 months, futures may not be the best vehicle as futures contracts expire so you'd be dealing with that. But for scalping, which to me is high frequency trading for single digit pips, there's just no question that futures is the better option. But you'd have to really explore both and make that decision.

Hopefully this helps a little.


Really appreciate your reply! Opened my eyes to whole new world.

Will be doing my own research on futures.

Mohammadi
May 18 2018 at 10:40
875 zpráv(a,y)
Even though so many traders always emphasis on acquiring good trading knowledge but I don’t. Because, according to me despite of having most powerful analyzing trade knowledge that’s not possible at all to lead a healthy trading life with certainly, as a result the broker can affects the result of our trading with certainly. So when choosing a broker we have to be more careful.

togr (togr)
May 18 2018 at 12:19
4862 zpráv(a,y)
ComebackKing posted:
krayziejohnny posted:
how do you trade futures with no spread? broker name, etc? whats CME AND ES stand for? very curious right now


thanks!


Apex, Optimus and AMP are brokers I am familiar with but there are hundreds out there, just like FX brokers. You would have to do research and decide from there, I cannot explain all of the in's and out's here.

togr does make a valid point in that with FX there is a spread and that is your cost whereas with futures there is commission and that is your cost so in either case your entering into a minus sum game and there's no getting around that. The CME (Chicago Mercantile Exchange) is a regulated exchange and operates with a level of transparency that's not available in FX, just given the nature of FX. This is why trading volume is meaningless in FX as any volume information will just be from your broker. In futures, contract volume has actual meaning as this is THE marketplace for all transactions. No dark pools or off exchange transactions. There are iceberg orders and things of that nature but all volume comes through the same portal. The price ladder or order book shows all resting orders at each given price level for everyone trading the given market. You're just not going to see that with FX.

Mind you, I'm only talking about scalping here. If you're intent is to enter a trade and hold it for 6 months, futures may not be the best vehicle as futures contracts expire so you'd be dealing with that. But for scalping, which to me is high frequency trading for single digit pips, there's just no question that futures is the better option. But you'd have to really explore both and make that decision.

Hopefully this helps a little.


that could be easily bypassed by using ctrader which truly works as ECN by its nature

BluePanther (BluePanther)
May 20 2018 at 10:22
1344 zpráv(a,y)

Mark Shawzin:

'Out of the 241 trades, 16 of them were responsible for ALL of the profit.
Most people in this world can't handle it. Yet, it is the only way I have ever seen anyone make money trading. Ever.
I was on Wall Street for 23 years. All of the successful fund managers will have long losing streaks, sometimes lasting 6 months to a year.
And then... boom! They let their winners run and they wipe out all of their losses.
It is how trading works.


https://thepatterntrader.com/the-pattern-trader-bundle-35/

AmDiab
May 21 2018 at 06:36
718 zpráv(a,y)
Mohammadi posted:
Even though so many traders always emphasis on acquiring good trading knowledge but I don’t. Because, according to me despite of having most powerful analyzing trade knowledge that’s not possible at all to lead a healthy trading life with certainly, as a result the broker can affects the result of our trading with certainly. So when choosing a broker we have to be more careful.


So, according to you, if anyone has a good broker but no good trading strategy, he will be a successful trader, isn’t? Can you please explain more?

Russ
LongTerm32 (LongTerm32)
May 21 2018 at 07:11
18 zpráv(a,y)
Admoni posted:
At present Forex is definitely a profitable business. The first thing as a newcomer you need to do is learn everything you can about the market . then before you get a real account , get a demo account and practice as much as you can so you will get a better idea about the market. You probably should use the demo account for months. However , if you feel like you are ready , then by all means open up a real account.


The title if this thread is wrong. Forex is not profitable. It is up to the individual trader as to whether they are profitable. The title should be 'Are Forex Traders Profitable?'

Mohammadi
May 25 2018 at 11:03
875 zpráv(a,y)
Every faction in this volatile trading place contains huge risk and no one can avoid it in spite having good trading knowledge and experience. But if you have proper trading discipline of course it is possible to reduce risk and greed.

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