I was going to come on here and say don't trade with FXMC but I have decided to let this paid sponsor come on here and explain himself. Could you please answer these questions. When a customer gets a fill how do you offset the risk to your firm? Do go into the futures market and buy a contract? Do you go into the interbank market? Maybe you have a deal with a British spreadbetting or contract for difference (CFDs) firm with a smaller spread than you were you can punch to offset the risk. I understand that you put some customers under "manual execution". Could you explain what causes this to happen? How many customers do you have that are hedgers? How many customers do you have been with you over a year? This is an excellent opportunity for you firm to dispel the popular wisdom that retail FX traders have no hope of winning.
I made my previous post in the hope of making would be FX traders aware of some of the downfalls that go along with retail FX trading. I would doubt that there are any profitable retail traders with FXMC, but if there is they would be much, much better off trading currency futures from the CME. The only currency traders who should consider trading outside of futures are one domiciled in Countries give favourable tax preference to spreadbetting.
gotcha... it wasn't particularly obvious from your initial post but... exchange-traded eFX / eurexus currency futures VS otc-brokered spot FX trading... always an interesting debate but, why choose this thread in particular?
I was thinking I picked the wrong thread too. I made my first post the way that I did to get people thinking. Are there any advantages to spot fx for trading? I see spot fx as a treasury management tool for big corporations and maybe a place to arb with the futures market.
how about the following threads?: http://www.elitetrader.com/vb/showt...e=6&highlight=spot fx vs futures&pagenumber=3 http://www.elitetrader.com/vb/showt...e=6&highlight=spot fx vs futures&pagenumber=1 http://www.elitetrader.com/vb/showt...80503&highlight=spot+fx+vs+futures#post880503 there is (tons) more but... hope this helps. cheers,
You sound like a trader that can't manage your account properly. With REFCOFX this year, I'll have a profit of 120%. If I ever get my money. And I assume that there are others just like me that can make very profitable trades with a dealer like FXCM. Though I must admit, it took a couple of years for me to understand my own mistakes, and make corrections in my techniques and charting. But once, I made those corrections, I 've found that almost all my trades are profitable in the end.... Remember, just because you are an unsuccessful FOREX Trader, doesn't mean that everyone else is. Word of warning: Most people loose trading stock Even more people loose trading commodities. And almost all loose trading forex. None of the above is usually the broker/traders fault. Those with skill make with money, those without skill loose money. If you don't have the skill, make paper trades till you do. If you can't win on consistently on paper for a good period of time, don't trade. BTW, 30 day demos can help. But you need a t least a good years trading experience for FOREX.
let me guess... u using a little more than 33x leverage right? (i use 120x whenever if feel 'comfortable', 90x on avg)
I just watch my account equity. I tend to like to maintain a 75 to 80 % equity. I generally won't add to or take on any more possitions after I chew up 25% of my account equity. Unless I see something really juicy like the GBP/JPY drop down into the 190s.