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Spindocter

Registered: Jan 2007
Posts: 8

01-14-07 12:10 AM

Hey guys I am listed daytrader and I had a few questiosn about forex, thought maybe somebody would have some answers:

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Spindocter

Registered: Jan 2007
Posts: 8

01-14-07 12:13 AM

Sorry posted without questions

1. Is forex daytrading posiible?
2. Are there many daytrading firms for forex?
3. If there are any forex daytraders that are out there and want to share there experience, I would appreicate that.

Am not lookin to make a move to forex just trying to find out if it is possible

Thanks

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mmccormac

Registered: Feb 2006
Posts: 136

01-14-07 12:23 AM

Quote from Spindocter:

Sorry posted without questions

1. Is forex daytrading posiible?
2. Are there many daytrading firms for forex?
3. If there are any forex daytraders that are out there and want to share there experience, I would appreicate that.

Am not lookin to make a move to forex just trying to find out if it is possible

Thanks

You're kidding right? Do a search in google and you will find 1000's of fly by night forex "brokers"... Let me save you from finding out the hard way. One warning... The FX markets are not regulated and you can loose your entire account if you are not careful on your broker decision (See RefcoFX).

Market makers:

Oanda

ECN:

EFX Group (For small traders)
Interactive Brokers

Many say that the Futures Pit (CME Globex) is the best way to go for daytrading the currency markets. I agree depending on what size you want to trade. I trade different and hold positions longer term so I've stayed in the Spot markets so far but if you are just daytrading mabye use your current broker and trade on the Globex.

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Spindocter

Registered: Jan 2007
Posts: 8

01-14-07 12:34 AM

Thanks for the reply, I kinda this post up cause I was overwhelmed by the response on google. Figured someone here has done the leg work. My firm right now is a listed/nasdaq prop firm I know they have no capability for currency trading, (nor any kinda futures).

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Spindocter

Registered: Jan 2007
Posts: 8

01-14-07 12:36 AM

Also wanted to ask if forex had a level II, or is it just level I quotes?

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secxces

Registered: Apr 2006
Posts: 103

01-14-07 01:50 AM

Quote from Spindocter:

Also wanted to ask if forex had a level II, or is it just level I quotes?

You really havent done any research have you? The least you could do before asking others for there time to explain would be to, as said before, google it, or just look it up at the local library. Something is better then nothing.

-secXces

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