Well at least you've got yourself a point of view, even if it is a little misguided. No need for 'very wide stops', I trade intraday with never more than a 30 or 35 pip stop unless I'm scaling into a longer term yield positive trade. Of course unscrupulous behaviour exists in forex, it exists in every market and pretty much every business come to that, it's up to the trader to identify what that unscrupulous behaviour is and to try and find a way to neutralize it or turn it to his advantage, or else find another broker who is honest. I trade all sorts of exotic pairs simply to exploit their volatility, Eur/Usd might be fine for some people but it's a bit too limiting for my style of trading. As for getting "currencies direction correctly all the time", if you're a trader you'll already know it's not about 'all the time' it's about probability, control of risk, and maximizing profit. I know traders who have an abysmal ratio and they make some very healthy returns. Sorry, I haven't read anything here to convince me that your trading experience is anything more than novice level, and I haven't read anything to convince me to abandon a market I've traded for years in favor of futures, if anything it's confirmed I'm in exactly the right place for what I do. I respect your decision to trade futures, that's your choice, I trade spot and that's my choice.
I have done nothing but that by stating facts of the REAL forex market (this is not the bucketshop maket you defend) I encourage anyone to go over my posts to learn more I am NOT going to start a flame war in this thread P.S. Should I listen to Cabletrader ? http://www.elitetrader.com/vb/showthread.php?s=&threadid=123085&page=1
The 'real' forex market? Well the 'real' foreign exchange market is cash obviously, and the options available to a trader wanting to trade cash are fairly limited. Good idea, let the reader decide ps I'm not asking anyone to listen to me, it's a discussion, people make up their own minds, lol Are we done yet?
Exactly, instead of your long ramblings to defend the bucketshop market , start a journal with live calls to show us how non-novice your trading is , wanna bet you will come up with an excuse not to do so lol P.S. Should I listen to Cabletrader ? http://www.elitetrader.com/vb/showt...d=123085&page=1
The only difference being I reply to the points you make whereas you seem unable to, I wonder why that is
lol, way too predictable! What does my trading have to do with this thread, or is that the best you could come up with in reply to my posts? But I'll tell you what, seeing as I'm such a good sport and seeing as you appear to have so much time on your hands, I'll take the other side of all the live calls you post, how's that? It will save us both a lot of time as you can follow the trades live and verify the results as you go. You do know how to trade don't you? Please let us have the link to your trading journal as soon as you start it, thanks! 'wanna bet you will come up with an excuse not to do so lol'
Discussion is always useful for me. I'm not trading. I'm learning. In this thread I have learned. I've learned that fx markets have specific characteristics that other markets haven't. And these is not written on books or on the brokers' contracts. I'm not interested in who is right and who is wrong. Pro-Futures and Pro-Spots both have taught me something that will help me to be slaughtered !
The cash FX brokers only offset the positions that are heavily skewed to one side. For example if all their clients are buying or selling. If they can match the trades in house they will. They do not offset and hedge each trade. garcia was somewhat correct. read the fine print in your account forms.