Four years ago I told a friend of mine who was thinking of trading Forex (and did not want to post 10G with IB) that Forex was a non-starter and most likely he would be scamed. While I trade futures only I would not make the same statement today. With some common sense someone can pick a firm and make money. I prefer an exchange listed product but Forex is no longer out of the question.
I don't believe this week... I got smoked from every angle... my head was in the wrong place. But most of all I forgot to look at the weeklies and didn't pay much mind to what was going on. It was all right there... there is always alcoholic beverages until monday....
you need to learn to stay awayand just watch,theres was no trades tis week that's why you got smoked .and quit drinking,it makes you stupid, ,advice from forex guru
There was trades and money to be made. Didn't trade on the 4th. I did not have my workspace all week, and I got smoked from not keeping up with what was going on. I'm not a big drinker of alcohol. Coffee... yes. I cannot take advice from a self-proclaimed forex guru. I will kick it off with some vodka.. which is good for you from time to time.
For the retail trader, IB, MBTrading, etc. The key is high reliability and the tighest spreads possible, with technology partners like MetaTrader or NinjaTrader or Multicharts, cTrader etc etc. I have a special place in my heart for Ninja, but Multicharts.NET and cTrader looks like a strong competitor MBTrading will tighten your spreads if you trade decent volume and they are my favorite (until I can get direct access, or by some miracle they tighten even more). My bots trade dozens to hundreds of times a day on 30+ pairs. If they tighten my spreads, the bots would trade even more. It is a positive feedback loop for everyone. But most brokers are just giving you a feed that has been padded on both sides from an aggregation of market makers. I have no problem with that, just get rich off me slowly, not fast. I have seen the feed to envy of most FOREX spot traders and I salivate at the sight of it, but it is basically impossible to get at it but for the biggest whales (feeds are negotiated). Those guys do 20 yards a day plus plus.
who does 20+ yards a day? I'm buzzed and now it's time to go.. people are setting off some insane fireworks around here this year.. times must be good.
CFTC and NFA want spot fx out of USA as they are competing with futures. They already cracked down on spot metals and CFDs which had the potential to be really huge. but I believe houses like FXCM have become too big for the futures Mafia to shut em down. Fx rocks!
The only money I made (around $15k in 2006) was with hedging. The way I hedged is not allowed now. The wild west days of Forex.
Yup, DoddâFrank killed otc gold trading. It could have been an interesting instrument to trade and invest in.