Forex Day Trader's Thread

I took a long on eur/usd, stopped myself. Took another long - scored some pips. But the last few days have been slim pickings for me :( It's not going to be as good as last week, now flat for the minutes.
 
around the 1.493 area above that 4hr SMA convergence.. basically close to the bottom of the 5m chart. I'll be moving up the stop at the first given opportunity however.. I'm not going to play around too much in an uptrend.

currently up 10
 
What brokerage do you use?
You trade OTC via ECN's or Mark-up ?

How come my previous post was deleted; i think what i was saying was pretty valid in regards to earlier posts in this thread.
 
I use Gain Capital primarily as well as FXCM for lower leverage trades and trade only spot Forex (JPY and USD pairs)
 
I would rather spend my time and energy focusing on one market rather than trying to master several different markets. I'd rather be strong in spot fx than wishy-washy in forex, commodities and stocks etc.. You can make more money than you could ever possibly hope to spend in just one area so I don't see the point of making things needlessly complex by having 8 trades going on at the same time. I've never traded futures and never will ;)
 
Pippy5000 said:
I would rather spend my time and energy focusing on one market rather than trying to master several different markets. I'd rather be strong in spot fx than wishy-washy in forex, commodities and stocks etc.. You can make more money than you could ever possibly hope to spend in just one area so I don't see the point of making things needlessly complex by having 8 trades going on at the same time. I've never traded futures and never will ;)
Click to expand...

Sorry thats not what i meant;

I meant; Forex Futures (Not futures as a whole)
So forex traded on the chicago merchantile exchange as derivatives. Such as the 6EZ9 (Euro/USD Dec contract)
 
As far as I'm aware Gain doesn't offer fx futures trading. What would the advantages over spot be, or are the trading mechanics essentially the same? I pay attention to stock futures only in their relation to fx, but have never been tempted to trade them. Like I said before I can make (or lose) all the money I need with spot fx so I don't stray off the reservation.

Gain recently offered spot gold and silver and the trading seems to be awful. Horrid moves which aren't very orderly..

I believe a few of the guys around here trade futures.
 
Pippy5000 said:
As far as I'm aware Gain doesn't offer fx futures trading. What would the advantages over spot be, or are the trading mechanics essentially the same? I pay attention to stock futures only in their relation to fx, but have never been tempted to trade them. Like I said before I can make (or lose) all the money I need with spot fx so I don't stray off the reservation.

Gain recently offered spot gold and silver and the trading seems to be awful. Horrid moves which aren't very orderly..

I believe a few of the guys around here trade futures.
Click to expand...

Futures are a significantly better, IMO, way of trading forex because they offer real exchange traded liquidity, the ability to take, as well as provide liquidity and therefore gain the spread; Much more efficient fills (Because its based on an exchange structure) rather than 'market-up' in a spot FX account - Which legally; can be manipulated and otherwise they are the same as the Spot FX markets... Also you have the added benefit of being able to view volume, trades @ the bid/ask, market depth and the ability to trade spreads and exchange options.

I'd even prefer futures to trading ECN forex, whereby liquidity is transparent, as is the bid and ask depth but ultimately the big dawgs still have the control.

Cheers
 
Volume is something I've always wanted to see.. Of course, you can kind of tell judging by the silliness of the moves what the volume is :LOL:

Which retail brokers offer fx futures trading? I just did a search and found no one.

My EU short is looking pretty nice.. up 22 .. I'm switching my t/p to a t/p and reverse long offering my gains as a stop.. stop would essentially be below today's European lows.
 
Pippy5000 said:
Volume is something I've always wanted to see.. Of course, you can kind of tell judging by the silliness of the moves what the volume is :LOL:

Which retail brokers offer fx futures trading? I just did a search and found no one.

My EU short is looking pretty nice.. up 22 .. I'm switching my t/p to a t/p and reverse long offering my gains as a stop.. stop would essentially be below today's European lows.
Click to expand...

When you say Retail Brokers;
What exactly do you mean?

Retail is usually referred to as the word for a bucket-shop; I don't think thats what you mean;

In terms of brokerages that offer the ability to trade FX futures;
InteractiveBrokers.co.uk
Tradestation.com
Bunch of others i'm sure...
However; 'Retail Forex brokers' will not offer futures... As they offer spot FX with mark-ups rather than act as a real 'broker'...

If you are talking about a brokerage firm that will allow futures to be trading; there are plenty; If you are talking about retail FX brokerages offering futures - That isn't going to happen due to the nature of Retail Fx.

Cheers
 
the big guys are always on the top list of fastest growing companies in the US :LOL:

Check the financial info from Gain Capital (Forex.com) .. I'd love to get in on some of that action. The average guy on the street should buy their stock rather than trying to make money trading fx!
 
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