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You can trade Futures Options on the GLOBEX platform through any firm that offers Futures Options. Maybe. But there's no need to go OTC when you can do it with the CME on the GLOBEX. Cheaper and more reliable. Like the person said above, they're effectively the same thing. If the...

I haven't finished it yet, but I think I got the biggest kick out of Indy Jones. Probably the most entertaining read, though his trading style is too different from mine to be of any real use. In terms of which I probably got the most out of, it's the "Man who buys crashes". I haven't traded...

I picked up a copy of the book and read through a couple of chapters. It's actually a pretty fun read, and if nothing else, shows you that there are no 'hard and fast' rules to making you a successful trader. It's kind of like reading old war stories, except these are maybe a little more...

I just realized that my post above may have been construed as a 'playing along' with forexsavior. Lest I am accused of likewise being a shill for a big forex firm, in the interests of full disclosure I should say that I trade with IB. I am pretty interested in what occurs to the smaller shops...

Yep, the polemics at hand notwithstanding, I hope no one gets burned by the potential downfall of several small brokers. It's tough enough being a successful trader without having to worry about whether your broker will be in business the next day. Forexsavior or anyone who knows anything of...

Is this really a reasonable assumption? Ballpark, how much would it take a retail client to open an account at your friend's firm? 500k? 1 mil? Given the real estate craze, I would definitely be surprised if a person with 200k in real estate investment had 500k or 1 mil to invest at a...

Mods, can you please delete this shameless advertising? Post count of three. All three posts are pushing Dukascopy.

A quick valuation does show a 5-year ATM put for about 18k, as per the Bloomberg screen below, but who is actually going to sell you this option at 18k? Given the absurd illiquidity on anything longer-dated than 3 months on FOP's, I can't imagine that going through any retail brokers could...

It is indeed a little bit more realistic, and the market can certainly bear 20 million orders through liquid hours. I don't personally know of any brokers that will do that kind of leverage on that kind of size, however, and I somewhat doubt that any legitimate broker would let you take such a...

I'm assuming he means 400:1 on margin of 1 mil, which would make for a 400 mil position. Not happening. I'm sure you can get 400:1 on margin of 500 dollars, but 400:1 on 1 mil is unheard of.

IMHO, using Alexa ratings is a strange way to gauge the health of the overall industry. Your point is taken, but I think it's far more useful to monitor changes in Net Capital as per the CFTC website. I haven't done this personally, but maybe someone out there has?

Read what I said again. I'm agreeing with you.

I have been following this thread pretty closely as well, and I would just as easily guess that forexsavior may be employed by any of the top forex firms. I know how to sniff out bullshit when I see it, and his stuff has been fairly unbiased and very informative. So as to whether FXCM is...

You can also try it with Smartquant's retail-priced OpenQuant. It's a nice little SDK for developing systems in .NET languages, though in my experience the stability leaves something to be desired.

P.S. I agree, IB is a bit difficult to use for anyone new to the game. You can check out their demo to see if it is for you. In terms of execution and reliability, though, it's top-notch.

Tradestation's forex trading extension has the fun habit of going down every once in a while. If you're going to trade with Tradestation, keep a backup. Of course, we can't blame TS for their forex shortcomings; their price feed comes from Gain's www.forex.com.

You will likely pay an exceedingly high premium for such an option and encounter substantial transaction costs on the position. Even several months out, currency options markets are far too illiquid to make sense to trade. Just my $.02.

You're probably best off trying to go for a firm that offers Futures Options on CME Currency futures. The currency options market is arguably not liquid enough to make high-frequency trading profitable (spreads are too wide), but I do a fair amount of swing trading from futures options and I...

Thanks for the update. I briefly considered opening an account with Crown Forex since they promised "zero swaps", a.k.a. you don't buy or pay interest. Yet after reading horror stories in the forums, you would probably do well staying away from what all accounts say is a chop shop.

At Interactive Brokers Live right now: (add 0.4 pips round-turn commission on each) eurjpy: 2 (2.4) usjdpy: 1 (1.4) gbpusd: 1.5 (1.9) gbpjpy: 5 (5.4) Though at IB you do have to deal with later currency conversions, especially on the crossrates, on residual balances in...