Anybody trading currencies?

[Jayford]

Quote from TradingWise:

lol, so you pay about $ 30 per round turn in futures?

I still don't understand the spread part, but can you back up you accusations about Oanda with some kind of proof? How do you know they apply the policy you described above?

The spread in futures works just like your spread in forex. You pay the spread once. Most people don't get this. If you buy and immediately sell, you are flat with paying the spread once.

Most people pay less than $5 RT with futures. Some pay dramatically less.

Typically, a futures round turn in the euro is $17 total (1 tic spread). If you pay 1.5 at oanada, and always get your fill, then you would pay less there by a few bucks. Most forex firms have a 3 pip spread however, and stops aren't allowed at many. With futures, the exchange matches orders. You will ALWAYS get filled with a stop order, usually with little or no slippage. In extreme markets you can have some slippage, but you'd still get a fill.

I hope that explains things well enough for you. You have tax advantages with futures also BTW (60% taxed at long term capital gains, 40% at regular income tax rates).

jay

 

[TradingWise]

Quote from Jayford:

The spread in futures works just like your spread in forex. You pay the spread once. Most people don't get this. If you buy and immediately sell, you are flat with paying the spread once.

Most people pay less than $5 RT with futures. Some pay dramatically less.

Typically, a futures round turn in the euro is $17 total (1 tic spread). If you pay 1.5 at oanada, and always get your fill, then you would pay less there by a few bucks. Most forex firms have a 3 pip spread however, and stops aren't allowed at many. With futures, the exchange matches orders. You will ALWAYS get filled with a stop order, usually with little or no slippage. In extreme markets you can have some slippage, but you'd still get a fill.

I hope that explains things well enough for you. You have tax advantages with futures also BTW (60% taxed at long term capital gains, 40% at regular income tax rates).

jay

Thank you for your explanation.

So far, I have never had trouble getting fills or slippage. A few trades back I was stopped at a number spike, right on the pip, no slippage. Though this was still small size trading.

Also, I am from the Netherlands, so the US tax system does not apply.

 

[nealvan]

I'm thinking of trying out Forex since the Stock market is boring me right now with all the negative news and not no fun sitting on the sideline with all the declining issues... I know nothing about trading currencies...
My intial questions for trading currencies are:
Can I conduct all trades online?
Can I trade all types of currencies from the same account (ie euro, us, jpy)?
Does the price of the trade cost the same as what the
currency is going for (ie how is currency priced)?
Can you trade options on currency as you can do on stocks?

 

[email]

I'm thinking of trying out Forex since the Stock market is boring me right now with all the negative news and not no fun sitting on the sideline with all the declining issues... I know nothing about trading currencies... 1) buy a Few books, purchase a few courses how to trade Forex. By the way, if you trade stocks why dont you go into E-minis on globex.


My intial questions for trading currencies are:
Can I conduct all trades online? 2(Yes, right on the Brokers platform
Can I trade all types of currencies from the same account (ie euro, us, jpy)? 3) As many as you want, but some the spreads are high.
Does the price of the trade cost the same as what the
currency is going for (ie how is currency priced)? 4(You pay the spread, that is around 3pips to 5 and up. so around $30
Can you trade options on currency as you can do on stocks? 5) Yes, Refco and ......I have to think, I will post as soon as I remember.

 

[FredBloggs]

Quote from nealvan:

I'm thinking of trying out Forex since the Stock market is boring me right now with all the negative news and not no fun sitting on the sideline with all the declining issues... I know nothing about trading currencies...
My intial questions for trading currencies are:
Can I conduct all trades online?
Can I trade all types of currencies from the same account (ie euro, us, jpy)?
Does the price of the trade cost the same as what the
currency is going for (ie how is currency priced)?
Can you trade options on currency as you can do on stocks?

neal - my advise would be dont give up stocks cos you have had a few bad days. thats trading. take the rough with the smooth.

if you cant find 1 good stock to trade out of 3000 then currencies wont help you.

 

[email]

You know you really can not argue with Freds point

 

[SethArb]

for a few minutes before 3 PM EST

in EUR / USD ?

my chart shows a spike ( down ) in march 05 fut.

to 1.2932 or so ... the cme website shows

the pit only traded a low of 1.2944

that is a big difference ... and am now unsure

of the correct low

 

[Rickshaw Man]

Quote from FredBloggs:

neal - my advise would be dont give up stocks cos you have had a few bad days. thats trading. take the rough with the smooth.

if you cant find 1 good stock to trade out of 3000 then currencies wont help you.

Can you find one good stock? if so, please do tell.

 

[kubilai]

Quote from Rickshaw Man:

Can you find one good stock? if so, please do tell.

If you cannot find one good stock to go long on, then surely you can find one good stock to go short on?

 

[nealvan]

Quote from FredBloggs:

neal - my advise would be dont give up stocks cos you have had a few bad days. thats trading. take the rough with the smooth.

if you cant find 1 good stock to trade out of 3000 then currencies wont help you.

Thats not an answer to my any of my questions...
I guess put on a gas mask right.. err..