Advertisement
Does your Forex Broker...
Oct 08, 2012 at 15:22
1,144 Views
14 Replies
Member Since Jul 03, 2012
178 posts
Oct 08, 2012 at 15:22
...offer other instruments to trade than forex pairs and do you use them for trading?
Pax puts the X in Forex.
Member Since Jan 14, 2010
541 posts
Oct 16, 2012 at 09:47
TheLastBear posted:
...offer other instruments to trade than forex pairs and do you use them for trading?
Yes, metals and cfd's, however I don't really use it. Tried trading metals once however they are totally different beasts. Better to focus on a few than try and master many trading instruments.
Member Since Jan 14, 2010
541 posts
Oct 18, 2012 at 12:36
aj90151 posted:
yes, i have plenty of symbols in my mt4. when i'm bored i try looking for patterns in symbols i don't usually trade - this helps burn time while other trade opportunites develop and in the same time i might notice a new setup.
I tried that but it just makes me lose focus on my usual symbols I trade, so I just stick with that.
Member Since Jul 03, 2012
178 posts
Oct 23, 2012 at 13:59
Well, it is bad to lose focus James :)
Pax puts the X in Forex.
Member Since Jan 14, 2010
541 posts
Oct 23, 2012 at 14:04
I think that over 90% of traders don't touch anything other than the majors on a constant basis, and the extra instruments are just to give an edge over a competing broker who doesn't have such instruments. In any case, it's a win-win situation for the traders.
Oct 23, 2012 at 17:50
James_Bond posted:
I think that over 90% of traders don't touch anything other than the majors on a constant basis, and the extra instruments are just to give an edge over a competing broker who doesn't have such instruments. In any case, it's a win-win situation for the traders.
I agree with you James. Most people tend to focus on the majors. However, I do not. I adjust to market dynamics as they occur. For instance, I have been day trading xau/usd and xag/usd with a high success rate. Since the US economy has turned to crap a few years back, an increase in volatility has manifested in metals and other commodities . This is awesome for day trading. But, it is a BEAST! Trader beware for sure.
Obviously, your trading approach is the ultimate factor. Bankroll, availability, time zones, and time frames all play a part in your approach. I heard stories of GBPUSD used to trade in 300 pip ranges 10 years ago. The USD/JPY was volatile too. But, times have changed, so one must adjust to exploit current dynamics to be optimal. Well, that's the way I see it, to say the least.
A man should look for what is, and not for what he thinks should be.
Member Since Jan 14, 2010
541 posts
Oct 25, 2012 at 07:37
@Geereg Yes, trading gold or silver is totally different animal - its really confusing as you need to adjust for the different volatility with different lot sizes and sl/tp levels, which is very confusing if you're trading many instruments.
Also, the addition of non currency instruments to forex offers are rather new (only a few years old I believe) which is also why these instruments are not being traded a lot, however that trend may be changing.
Also, the addition of non currency instruments to forex offers are rather new (only a few years old I believe) which is also why these instruments are not being traded a lot, however that trend may be changing.
Member Since Jul 03, 2012
178 posts
Oct 29, 2012 at 14:05
James_Bond posted:
@Geereg Yes, trading gold or silver is totally different animal - its really confusing as you need to adjust for the different volatility with different lot sizes and sl/tp levels, which is very confusing if you're trading many instruments.
Also, the addition of non currency instruments to forex offers are rather new (only a few years old I believe) which is also why these instruments are not being traded a lot, however that trend may be changing.
Yes, they are new but have been around for over a decade. It really comes down to the trader and the ability of the trader. Personally I have never used a S/L level and leave them to amateur traders where they belong.
Pax puts the X in Forex.
Member Since Nov 09, 2012
76 posts
Nov 09, 2012 at 10:36
Yep, CFD on stocks and on futures. I don't use them by now. but I really think about investment to gold... I suppose that is safe.
also if broker doesn't provide any other variants of investment, that will be strange. I wouldn't trust such company...
also if broker doesn't provide any other variants of investment, that will be strange. I wouldn't trust such company...
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
Member Since Jul 03, 2012
178 posts
Nov 13, 2012 at 12:09
RollingStones74 posted:
Yep, CFD on stocks and on futures. I don't use them by now. but I really think about investment to gold... I suppose that is safe.
also if broker doesn't provide any other variants of investment, that will be strange. I wouldn't trust such company...
Yes, it would be very strange as every sound broker should have a range of assets they offer.
Pax puts the X in Forex.
forex_trader_43716
Member Since Aug 06, 2011
326 posts
Nov 13, 2012 at 20:05
The more there is to trade, the broader the opportunity and diversity.
Member Since Nov 09, 2012
76 posts
Nov 14, 2012 at 03:15
myfxpt posted:
The more there is to trade, the broader the opportunity and diversity.
However I believe there are really few traders, who works both with CFD and pairs... I mean there must be different strategies and that's kinda hard to run them all...
If you want to end up with a nonaverage net worth, a “learn from someone else” attitude is paramount. Putting your ego aside and admitting that you don’t know it all isn’t easy, but it is the mindset of true winner ----Paul Tudor Jones.
forex_trader_43716
Member Since Aug 06, 2011
326 posts
Nov 14, 2012 at 04:16
RollingStones74 posted:myfxpt posted:
The more there is to trade, the broader the opportunity and diversity.
However I believe there are really few traders, who works both with CFD and pairs... I mean there must be different strategies and that's kinda hard to run them all...
Maybe so...
Member Since Jul 03, 2012
178 posts
Nov 15, 2012 at 15:24
I usually trade across asset classes.
Pax puts the X in Forex.
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.
