I'm planning to auto trade Forex EUR/USD and other majors with Trade Station. I heard that they offer 100 different strategies. Can any one please suggest me which one is good for Forex, specailly EUR/USD? Thanks.
I have done extensive testing using a multitude of systems during the last two years, as well as, real trading and I have found out something you better know before you drop your money in the bucket. Unless the spread is 1 pip or less, you won't make any money in FX daytrading EUR/USD. The reason is that big players cause the volatility that is required to maintain high frequency trading. On the other hand, if you attempt to trade long term, in order to avoid a huge drawdown and liquidation you must keep your risk percent very low and your return will be also very low. Not really worth it. I think the spread is as important as the strategy. Ron
Your best strategy should begin by dropping TradeStation, they're terrible for FX. They use Gain's dealing desk, AND they add half a pip to Gain's spreads on top. Download Gain's demo and run it side by side if you want to see for yourself. Effectively, they're robbing you of a pip per r/t trade, how they get off doing this and charging a commission, lord knows. No interest on idle funds either. They're a joke compared to IB.