Any reason not to trade 6E over EURUSD?
- Thread starter davewolfs
- Start date
Benefits of spot vs 6E:
1) sub-pip spreads
2) no 5-6pm EST offline time
3) better loss taxation (can be offset against standard income), same beneficial 60/40 profit taxation
I'm fairly new to trading but I did at least basic homework before making my first trades. You can certainly get off the size you are talking about (2 to 3 contracts) during regular CME session hours on 6E and before 11:30 AM (London is closing then) you can get off three or four times that size at least without slippage and for all I know a lot more. I just don't have enough experience to know where the liquidity gets iffy.
But more important than the details is a basic rule you need to implement NOW. Unless you are a seasoned pro (read 5 + profitable years) and you have an angle or an edge of some sort that can only be done in FOREX stay away from FOREX firms. Virtually all of them are bucket shops and, like playing three card monte on the street, they will pick your pocket.
I am not at the level of arbing anything or hedging my action in East Bumfuck but I wasn't born yesterday. This is a tough go when you are trading with reputable people. Don't trade with scum.
The CME is a real market without counter party risk or a bucket shop on the other side. It is where you must be ... PERIOD.
Wow.
The level of foolish ignorance among some (not all) here on ET is beyond belief. And some of you call yourselves traders?
LOL, that's hilarious! No - really - keep it up. Some of the behavior around here, I find really comical. Comic relieve is a good thing - we all need it from time to time.
No wonder there is such mediocrity in this business. For some people, if they can't figure it out, then it must be a lie. The arrogance behind that mindset is sad, but I can see that after so many years, this business has attracted some of the worst attitudes in our society.
Sad, really sad. But, hey - whatever floats your boat.
The level of foolish ignorance among some (not all) here on ET is beyond belief. And some of you call yourselves traders?
LOL, that's hilarious! No - really - keep it up. Some of the behavior around here, I find really comical. Comic relieve is a good thing - we all need it from time to time.
No wonder there is such mediocrity in this business. For some people, if they can't figure it out, then it must be a lie. The arrogance behind that mindset is sad, but I can see that after so many years, this business has attracted some of the worst attitudes in our society.
Sad, really sad. But, hey - whatever floats your boat.
Quote from cabletrader:
...Realized profit is an illusion, just as fast as one side of the trade is making money the other side is losing it just as fast, it's a bit like being flat really and paying spreads for nothing
At some point you're simply going to have to have a directional bias.
This is proof positive that your capacity to even understand what's being said in my first post, is seriously in doubt.
Realized profit is an illusion? LOL, that's funny - I mean REALLY funny!
Both sides losing just as fast? Hilarious! I mean, TRULY classic.
And, you call me "evil?" Just because you are clueless, I'm evil? How deranged is that mindset.
What I do in the markets is so incredibly simple, yet you seem to think that "both sides" lose money at the same rate and at the same time.
Wow! Some of you guys have really slipped over the years. At least six years ago, the people I knew had some brains.
If you think that trading is all about nailing the direction, then you are forever doomed to long range failure in this business. Creative thinking relative to structuring trades is just as important, if not MORE important. Risk Management, is even MORE important than creative trade structuring and mapping your Money Management directly into your Trading System and Trade Strategy is an absolute MUST in this business.
Your biggest problem is the same as most neophytes in this business - you are too arrogant, too ego driven, to quick to throw the baby out with the bath water, to foolish to learn anything that is NOT already between your wet ears and too one dimensional in your thought process overall.
Did I miss anything?
Both sides lose money.....? LOL!
You had better put on your thinking cap, kid. Cause you have seriously missed the boat, entirely - and to your disadvantage.You know - it all makes sense now.
I can fully understand why my threads get closes, merely for telling my personal story. Just take a close look at who sponsors this site - or more to the point, "what" sponsors this site, and it should start to clear up for the thoughtful individual.
Brokers, MM's, Gurus, etc., all sponsor this site. If most people were trading with a 99% success rate, most of these folks would either not be needed, or their business models would be reduced significantly.
Consider the RB who takes the opposite side of your single sided trade. Or, the RB who tells you that have "no dealing desk" while never releasing your bid/ask to the real market in a real-time or near-real-time offset transaction/process. If they can take the opposite side of your position and your stop gets triggered, then they actually have two (2) sources of revenue from one unsuspecting customer: the abs net on the trade AND the spread paid (your cost of doing business).
If you are netting absolute value pips in just about every single trade you make AND your intermediary is constantly taking the other side, then they can't possibly cover their losses with spreads alone.
Wake up, folks. Who is supporting this site? Tell me I'm wrong.
Of that kind of support would not want me here talking about successfully nailing their hide to the wall more than 99% of the time.
I think the problem here on ET is that, plus some truly foolish, spiteful people (mediocre traders) that have not had the success they wanted in this business - ergo - nobody else could have possibly figured out how to surpass their failures.
Those two things are most likely the cold stone truth about ET.
I can fully understand why my threads get closes, merely for telling my personal story. Just take a close look at who sponsors this site - or more to the point, "what" sponsors this site, and it should start to clear up for the thoughtful individual.
Brokers, MM's, Gurus, etc., all sponsor this site. If most people were trading with a 99% success rate, most of these folks would either not be needed, or their business models would be reduced significantly.
Consider the RB who takes the opposite side of your single sided trade. Or, the RB who tells you that have "no dealing desk" while never releasing your bid/ask to the real market in a real-time or near-real-time offset transaction/process. If they can take the opposite side of your position and your stop gets triggered, then they actually have two (2) sources of revenue from one unsuspecting customer: the abs net on the trade AND the spread paid (your cost of doing business).
If you are netting absolute value pips in just about every single trade you make AND your intermediary is constantly taking the other side, then they can't possibly cover their losses with spreads alone.
Wake up, folks. Who is supporting this site? Tell me I'm wrong.
Of that kind of support would not want me here talking about successfully nailing their hide to the wall more than 99% of the time.
I think the problem here on ET is that, plus some truly foolish, spiteful people (mediocre traders) that have not had the success they wanted in this business - ergo - nobody else could have possibly figured out how to surpass their failures.
Those two things are most likely the cold stone truth about ET.
Especially, those "impossible" trades where both sides lose money at the same rate and at the same time - LOL!
Amazingly small (fragile) minds.
And, what's really funny is the fact that what I do, is so incredibly simple. Anyone can do it, but it takes some creative thought to get there.
I already have the material/physical confirmation that what I do works - the numbers and results don't lie. But, what I'm getting here on ET, is the human confirmation. Often time, when people have developed something that few others have seen or heard of, it typically gets ridiculed and derided into the ground in the minds of those that don't think beyond their nose.
I call myself sharing a success story after so many years of very hard work.
I really do think my story is an anti-ET sponsor story and not wanted on this site. I currently trade with a real bank, but I often wonder what would happen to my account had I been trading with a "broker." The broker I used to trade with "claimed" back-to-back offsetting. I never believed them and that's why I left them and finally decided to use a real bank with a real banking charter and a different business model.
I don't see my bank as an ET sponsor. Hmmmmm.
I'll probably get banned for that, I'm sure.
Whatever....
lol, I've never seen someone speak so much but say so little of any substance, it's like uncontrollable verbal diarrhea
Toooooo funny.....please carry on!
Toooooo funny.....please carry on!
Hey folks,
Shouldn't we have a little more love on this forum? I call for a softening of the antagonism and disparaging judgments of each other that are so unpleasant and distracting. Let's go pro, shall we? No more links to "how to commit suicide" pages. That has no bearing on the topic of this thread, after all. Also, please thoroughly state your trading ideas if you're going to bring them up. I'd like to hear the full details of Veyron's option-like forex strategy, for example. Why taunt us with a teaser when we could have a potentially fruitful and lively brainstorming session over the implications and execution of the idea.
Shouldn't we have a little more love on this forum? I call for a softening of the antagonism and disparaging judgments of each other that are so unpleasant and distracting. Let's go pro, shall we? No more links to "how to commit suicide" pages. That has no bearing on the topic of this thread, after all. Also, please thoroughly state your trading ideas if you're going to bring them up. I'd like to hear the full details of Veyron's option-like forex strategy, for example. Why taunt us with a teaser when we could have a potentially fruitful and lively brainstorming session over the implications and execution of the idea.