Oh no, it's you again..... Yep I'm still trading unregulated FX at bucketshops like Oanda and CMC and making money pretty much every day, terrible aren't they, I should be trading futures at IB! How about you? Still trolling forums I see. ~
I'm always civil, especially to you, but I do think you're losing your edge slightly as a troll. Mind you I'm sure you'll agree that despite all the effort you were never really that good at trolling anyway So how's the trading going? Did your mom give you a pocket money advance to open that live account yet or has she still confiscated your PC after the porn incident?
Here is an example that shows how you are wrong with respect to trading spot v futures. This morning, a short spot euro on MBT's demo platform was stopped out at the stop loss price of 1.2935, while the actual high of that reaction, accoring to MBT's data and forex.com's data was 1.2934. The same trade on the 6E, live through globex, had a stop loss of 1.2917. The actual high of that same reaction was 1.2916 basis the 6E. I was not stopped out of the futures trade, and managed to exit with +4 ticks profit rather than what would have been a 15 tick(pip) loss on the spot. How is that not a result of the way spot dealers operate? Hence, my question in the original post: Who is making real money at a forex spot dealer and not finding the house has stacked the deck insurmountably in the house's favor?
Plenty of people I imagine, but you won't usually find your edge at any broker. I think any direct answers you get to the specific questions you asked in your first post aren't going to mean much without knowing how the respondent trades, from my experience it's not a one-size-fits-all when it comes to picking a broker/marketmaker/bucketshop.
Thank you for you replies, Cabletrader. I should perhaps have rephrased the title to the post: At which forex broker have you been able to make you edge work? While I must muster some of the blame for the way this thread turned out inso far as I probably should have better communicated that for which I was asking, I cannot help but wonder about some of the posters who, rather than simply scrolling by a thread that should have held such little interest for them, instead felt compelled post detractions that have no value other than to the ego of the poster. Best Wishes, ddaytrader
No harm done, I think we're all guilty of having an ego, look on the bright side at least it kept the thread alive! Anyway while I'm here let me try and answer your questions. I'm primarily an intraday technical trader (borderline scalper) but make the occasional longer term trade (for me 'longer term' = a day or two). Trade size is usually below 2 million and on average between 100-500k. I also trade on fundamentals as they are released..... Which broker/dealer are you using? Oanda for general day-to-day trading, CMC for longer term. Platform? Oanda's FXTrade and CMC's MM5 Fixed or variable spread? Variable (usually only across data) but with a minimum as neither charge commission. Typical spread on EUR/USD? Oanda 1.2 lately but has been .9, and 2 on CMC Leverage (50:1, 100:1, 200:1, etc.)? Academic as I rarely exceed 20:1 but on Oanda it's 50:1 and on CMC 100:1 (although I think CMC are now offering 200:1)
forex is easy. if it looks like it going one way.. it is!! (just pulled ash^t load of pips out from under them) the freakers have NO imagination.. they have NO game