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On the basis of this discussion, as well my own experience with RefcoFX's sludgy, suspect price action, I will not be trading Forex.

Yes, well, you're right, of course, and, on the basis of this experience, I plan to broaden my horizons. Again, it's only been a week. But I was struck by this dynamic coming from an 800-lb Forex gorilla. I had assumed that the big boy would have the most to lose from a damaged reputation...

Sounds like ECNs the way to go...which brokers fall into this category?

Actually, based on by (albeit limited) experience trading a demo with Refco, this riff strikes me as hilariously dead-on. Bravo! And thanks for the first laugh of the day. Folks, I have never experienced kludgier price action than with Refco on the EUR/USD and USD/JPY pair. Yes, they say...

Yes, that's exactly what I mean...but please see my last post above...

I've been trading the indexes for about two years, first as a position trader, using options spreads, but slowly evolving into a directional trader, which seems to better suit my temperment. I'd been looking into Forex only because it seemed to offer the potential for the kind of short-term (15...

TradingWise -- Wow, that's interesting. I've been trading a RefcoFX demo accoutn and, I have to say, I've had some concerns. Those three pip spreads they talk aboit on the EUR/USD pair frequently seem to be more like five or six pips. Last night, during a low-volatility period, the spread...

So, to bring it back to the original question:) ... what led you to choose Oanda over, say, Refco? Or whomever else you considered?

well, yeah, there's that, too....:D

Thanks. I will check that out poste-haste!

Chood, this is really interesting. I appreciate your patience with my newbie questions here. Are you saying that there is NO real advantage to spot over the futures (unless you haven't qualified for a futures account). In other words, trading currency futures offers tighter spreads, lower...

But they do, in droves, in growing droves. Most of them may be clueless, but all of them? There must be some perceived advantage to the spot market over the futures. Anyone?

Fine, but Spock was (is?) half-human, and Vulcans are (were?) a carbon-based life-form. Perhaps we'd come closer to the mark if we mixed our Sci-Fi reference points: Who would you put your money on, Spock? Or Hal from 2001: A Space Odyssey?

does that work? overnight scares me. problem is, for the first time, trading off the five and fifteen minute chart, i'm consistently profitable. on the bigger timeframes all i've done is bleed cash. go figure. on the other hand, perhaps i've learned from the shorter time frames, and...

Yes, sir. Exactly. You are singing my song. I am finding success with using larger (5 and 15 minute timeframes) to filter out the 1 and 2 minute chatter. Now the question is, where can I do this while holding down a 9-5 job on the eastern seaboard?

I'm an idiot. Really? What's the "round-the-clock" liquidity like? Why would anyone trade the unregulated Wild-West spot-market if they can trade the regulated futures market?

Gnome -- I always thought so -- about day-trading being a sucker's game -- but now I'm not so sure. Ultimately, any successful trader needs to develop a style the fits his or her personality. I find the precision strike approach suits mine, given a method that offers reasonable positive...

Actually, I moved to Boston three years ago from L.A. What the hell was I thinking?!

How about early a.m. Have you considered the DAX?

exactly. something i just can't wrap my head around when it comes to system traders -- how do you know when a three-sigma drawdown isn't a precursor to a your account blowing up? nope. i'm convinced there are no shortcuts. i used to be a very serious violinist. i had that thing under my...