Trading FX futures

Discussion in 'Forex' started by gusmarone, Oct 29, 2008.

  1. After doing much research I have decided that trading Forex with market makers is like flushing your money down the toliet. How can they be trusted when they are on the other sides on your bets? Even some of the "ECN's" are bogus. I am not too keen on sending over 50k to ducascopy either in a foreign country. It is bad enough trading is hard but to trade the forex is really a death wish with all these things stacked against us.

    I feel you are just safest sticking with IB as at least you can be 98% confident your money will not evaporate and that they wont stop hunt and re quote. How can these forex brokers be allowed to do this?

    In any event. Many of you experienced successful traders have mentioned trading fx futures. Can someone lead me in the right direction on how I can go about finding a place to possibly do that and who is recommended?

    The unregulated forex market is really just crack cocaine for those who want to just gamble and trade, and these brokers are really worse than casinos where at least you know the exact house odds before playing.

    Any tips on where to trade fx futures would be appreciated.

    Top Notch Gus
  2. Almost any futures broker. IB is one example. You can trade futures, forex, stocks, options out of the same account.

    The best argument I have seen for futures over forex, is that your money is SEGREGATED. Any former customer of Refco would understand the difference. If your broker goes under, you get back all your futures money. Your forex account, well...
  3. I was looking over some info on the cme site. Volume today on the euro fx was 26000+. Are these futures conducive to scalping, are the spreads tight all day long? Is it usually a one tick bid ask?

    It is a shame that fx futures are not talked about more compared to bs forex and the rip off that the whole industry is.
  4. CME Future 6E (100,000 Euros) has traded 27,000 cars since 5 pm today and averages 2-3 ticks wide at night. Tick size is $12.50.

    During the day there is significant liquidity and the tick size is usually 1 tick, sometimes 2.
  5. So euro trades 1.32 to 1.33 that is $1250 bucks correct? I am glad I have done research on this and the volume is fine.

    Now its just picking a broker. For those that trade fx futures what brokers do you use?

    All Star Sports Gus Marone
  6. lol, are you having a bad day with your unregulated bs death-wish toilet casino marketmaker?

    Are you sure fx marketmakers are really the problem though, perhaps the reason for loss is a bit closer to home? There are plenty of traders doing just fine trading spot with a bucketshop marketmaker......
  7. Your forex account, well......

    .....for FSA regulated brokers the same really, up to 50k :p
  8. I have traded with the bucket shops and have made money, but I would not trust them to trade size. I love how all the huge posters automatically jump down the throats of us little posters with the insults constantly. It is what makes this board hard to read sometimes. Everyone is a wise ass thinking everyone has an ulterior motive.

    Listen the bottom line is this. Can you make money with a bucket shop yes. Can you trust bucketshops, no. I think the fact that 95%+ of forex traders blow out is a combination of they suck plus the fact that the brokers are there to rob you. If they aren't dealing off the trades to the banks then they are in business hoping you lose just like a casino. But at least in a casino you know the fixed house edge. I have seen requotes, stop hunting etc just trading small. Prints that show up with my bucket but dont come 30 cents close with other buckets.

    I am glad I saw this forum and the discussion of fx futures as that is the wise place to go and put your money to trade size. All comedians please don't quit your day jobs.

    Gus Marone All Pro Top Notch Sports
  9. You will get destroyed trying to trade cash fx. It's unregulated and they prey on retail traders. Stick to exchange traded contracts. 6E, the eurocurrency, is a great scalping product and great to spread (vs. the swissie, yen, pound, even ES).
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    #10     Oct 30, 2008