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I would suggest NinjaTrader or NeoTicker. NinjaTrader is free as long as you don't use it for entering real trade orders. Neoticker has 1-month trial. Both have a good number of indicators built-in and a trade simulator. With Neoticker you can use simulation server to replay historical tick data...

In addition to IB, FXCM, MB Trading (all of whom accept institutional customers) look into HotspotFX. If you are interested in larger volume than these can offer, send an enquiry to Reuters (they have a standalone foreign exchange platform) and/or Currenex.

For a record, IB has some of the best Forex commissions in the industry (at least, as far as retail accounts are concerned). Where IB is more expensive (for smaller positions) is overnight (rollover) rates. If these are a concern, you can try FXCM, MB Trading or others...

As Pippi436 suggested above Neoticker actually does all the 3 things listed. Of course, you need to try the demo first before deciding if it works of you. I understand each chart has a toolbar that you have to use if you want to shrink/expand the chart. It's actually pretty nifty if you get...

Why only IB? Does it have anything to do with the broker giving you control of how positions are liquidated?

You wrote a lot about overtrading. Overtrading is broadly starting trades without a good set-up. What about "undertrading"? What is it to start with?

Welcome to the thread! Thanks for the support! Yesterday, the maximum loss during the day was around 10 points including commission (probabbly 8-9 points before commission). If you want to run the winners the target should be probabbly based on the set-up. Having a small high-probability target...

Good point! I was not talking of some fundamental fair value. I was talking of the existance of a market price. As long as the value of assets the hedge fund holds can be reliably estimated, the bank can control risk associated with providing leverage... and reduce the amount of leverage...

Acttually, providing leverage to hedge funds that trade in easy-to-value securities, such as equity, is a low risk business model. Any loans are guaranteed by the fund's assets and the bank force the fun to liquidate positions if the drawdown is too large. Providing leverage is way safer than...

Thanks again to anyone who replied to the opening post of this thread. An update. I have been trying to follow this advice since the start of the year. I didn't make a firm rule out of it but till this week the maximum number of trades I had had per day was 3 and I often finished after...

Hehe - then it may be difficult to accept the truth. I'll keep trying... (Do I sound like someone who has watched "Matrix" too many times?) Taking profit isn't as easy as it may seem. One may think that larger profit targets are necessary to offset potential losses... So, the advice is to...

This is probabbly a fair way to describe my expectations. In the hindsight, I always see how some of the trades could have resulted in masive gains. However, aiming for such tardes I fail to realise substantial profit more often than not. So far I am learning to moderate my expectations. Now I...

Thanks to everyone who replied both in this thread and privately! I took some time off to relax using the festive period as an excuse (I enjoy travelling) and took time to reflect on the advice offered. I am working on improving my decision process. Thanks! The instrument is exchange rates...

I would expect you can but you need to ask FXCM. Another things to check are: 1) The micro account is actually available in your country 2) The rollover in the micro account isn't more expensive than in other types of accounts

Hi shortbleu, I can't recommend one as better than others. I believe even Oanda does it. Warning: some brokers wouldn't accept funds transferred via such companies. From FXCM FAQ: "FXCM cannot accept funds sent through exchange houses. These types of financial institutions are...

This is not as life-changing as it sounds. What is proposed is stop market participants that are not exchange members themselves from sending orders directly to the exchange and bypassing broker checks regaring margin requirements, uptick rule etc. This won't affect retail traders as they...

From animated series Futurama Hermes: "What do we do if we break somebody's window?" Dwight: "Pay for it?" Hermes: "O hohoho, heavens no. We apologize. With nice cheap words."

Another thought is you may hedge via an option from a service like AnyOption.com. It will likely be more expensive but then you won't have to top up the currency account if dollar appreciates.

As I understand you are talking about the provider of the currency hedge and not a stock broker... Given you are not planning to trade currency much and would hold the position for years, the difference in rollover rates is what probabbly will make the most difference in the long term. You...

Just to add to what borg already explained... When your account is in EUR and you buy stocks priced in USD, IB will not convert the required amount of EUR into USD (you can do such conversion later manually if you want to). Instead, IB will lend you the required amount of USD using the EUR...