currency futures broker suggestions?

Discussion in 'Retail Brokers' started by baron193, Oct 24, 2006.

  1. i've been trading forex for the past 2 years, mainly (USD/CHF) 1-2 lots two to five times a session, problem is the spread is killing me as i'm only after few pips at a time.
    Could anyone help with some suggestions? ,also interested in
    e-minis & aussie SPI & later the DAX,(i live in australia hence the
    european times are more suitable).
    IB looks like a good broker, but i've read somewhere that it's not the best for scalping.
    Finally if at all possible to be short & long at same time & have multiple tickets open at same time with predetermined stop loss in points...asking too much?
    Your help will be greatly appreciated..thank you in advance.
    Antony.
     
  2. Thank you Barry, after looking at a lot of indicators i've gone back to bare candlestick charts & fib levels & trendlines....on swing trading,do you use the oscilator for divergence signals?
     
  3. Interesting stuff Barry, i've got a lot to learn...i noticed you use tradestation, i use metastock pro, is there any way the IB feed can be paired with either of those two platforms?.
    Cheers, Antony.
     
  4. Steve_IB

    Steve_IB Interactive Brokers

    Baron, It is possible to interface Tradestation charting to IB via our API. Unlike many other firms, Tradestation haven't programmed an interface themselves (surprise:)) but there are a number of third party companies that have developed an interface. Many of these our listed on our website, under Software >> Third Party Tools >> Commerical and Freelance.

    Regarding your other questions - you can set-up pre-determined stop loss and profit taking orders.

    You can't be long and short at the same time, but you don't want to be doing this. The "lock" idea was made up by unscrupulous FX dealers trying to bump up their commission at the expense of their customers).
     
  5. Hi Steve thank you for your reply, Metastock Pro8 is the software i use, not Tradestation.
    I don't go long & short at the same time per se, it's just that sometimes in a choppy market it is better to take the other side rather than realise the loss...,when you know it will come back.
    I've just filled the paperwork for a new account should i have mentioned your name ?.