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Forex Trading


RobAde

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In reply to: crowman28 on Monday 27/11/06 10:26pm

Crow, how do you find getting your order filled. This is one of the reasons why I am looking at fX. I have difficulties at times getting my order filled. In fact, today my order on the ASX was not filled immediately and neither was my order on the FTSE.

 

The FX is supposed to be a trillion dollar market, so I would expect that you would be able to get your order on alright. I am assuming you are taking out sufficient to make $1K from your trade of 10 pips.

 

 

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In reply to: happy2 on Tuesday 28/11/06 12:27am

Surprise Happy, I am entering big, 1 million contracts at a time, and it filled immediately whenever price is hit.

 

Hence forex you get your fill instantly, and no re-quote like stock indices.

 

Is that enough to switch you over now? http://www.sharescene.com/html/emoticons/lmaosmiley.gif

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In reply to: happy2 on Tuesday 28/11/06 10:25am

Happy, the only times you MAY have liquidity problems with FX is: data releases (such as NFP), around friday close or sunday open, public holis, and outside of main trading sessions. The liquidity of FX is enormous compared with futures, indexes and shares. If you want to read a good book to put FX in perspective I can recommend one by Alex Douglas, FX trading in Australia

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A few years ago I spent some time studying Forex as part of my ongoing market education - it intrigued me in that when you really dig deep not much starts to make sense...

 

Spent some time lurking on American Forex forums (which make Hot Copper look tame).

 

I have some bad news guys....

 

Never found a single trader who was able to proof he could make consistent profits daytrading forex - not one. By proof I mean making real-time calls and showing weekly snapshots of account statements. That is the norm over there, heresay trading gets ridiculed...

 

Also remember that trading forex through CMC, IG etc... you are not actually entering the "trillion dollar money market" everyone keeps talking about, you are betting against the house - like blackjack at the casino.

 

You guys will not want to believe me, which is fine - in 12 months time you will like me even less though for being right again, like I was with index trading last year.

 

Three ways to make good money on forex imo....

 

i) Start making calls and start charging suckers money for your services, you would be surpised how many wannabee FX traders will pay up for a nipple to latch onto - no respect from me if you go down this path though.

 

ii) Trade real forex, through your bank. Of course you will be lucky to get 50% margin instead of the 1% at the FX casinos - but that protects you and them.

 

iii) Always keep an eye on forex markets and after a few years you will recognise situations with good R/R and then go after them, so that way you will only play the casino a few times a year with the odds in your favour.

 

I use option iii) but use forex as an indicator of sorts for my trading in general...

 

This post will probably get deleted soon as FX providers do not like you to know the above, and they get paid to lurk on these type of forums.

 

If you are just doing it for fun cos you have more money then you know what to do with, well... good luck.

 

 

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