Are there drawbacks to working with such a liquid market?
- Thread starter forextraderpro
- Start date
Instead of telling me how very 'naive' I am why don't you tell everyone why it makes a difference, that might be more constructive and would prove to everyone how very naiive I am
And while you're at it perhaps you could tell everyone how a private speculative retail forex trader can trade directly with a bank, that would be very helpful!
Nah, thought not.....in traditional forum style isn't it about at this point that you start throwing insults?
Quote from cabletrader:
Instead of telling me how 'naive' I am why don't you tell everyone why it makes a difference, that might be more constructive
I covered some of it in my prior posts, but here is another one. Trading in forex virtual world opens you up to a lot more risk as I outlined before, on top of it your funds are not really segregated, and should there be broker insolvency, forex account have much less protection then futures accounts.
You mentioned before that you stick with forex because that is what you learned and comfortable with. Trading is ruthless business that you always need to adapt and change to help you in a long run. If you are successful in forex, switching to CME futures would almost non event for you, yet you stick with forex and do not want to step out of "comfort" zone.
Garbage basically, sorry!
I trade with a UK marketmaker who is regulated by the FSA. In the event of marketmaker insolvency I'm protected exactly the same as I would be trading futures, if not more so. If people are stupid enough to open trading accounts with some unethical corrupt scam broker in somewhere like Russia then it's their own fault, they need to exercise due dilligence.
I trade spot for a number of reasons. I'm comfortable as it's a business I know and am familiar with. I can trade many many more currencies. My marketmaker fills my orders 24/5, no partial fills or slippage.
Why would I want to change? Why try to fix what ain't broke
Quote from cabletrader:
Garbage basically, sorry!
I trade with a UK marketmaker who is regulated by the FSA. In the event of marketmaker insolvency I'm protected exactly the same as I would be trading futures, if not more so. If people are stupid enough to open trading accounts with some unethical corrupt scam broker in somewhere like Russia then it's their own fault, they need to exercise due dilligence.
I trade spot for a number of reasons. I'm comfortable as it's a business I know and am familiar with. I can trade many many more currencies. My marketmaker fills my orders 24/5, no partial fills or slippage.
Why would I want to change? Why try to fix what ain't broke
Ignorance is a bliss.
Ah here we go, when you can't defend your opinion with logic and reasoned argument just resort to making inane comments, not exactly unexpected because there's nothing else you can reply with, what I wrote is fact.
As you'll probably find out, ignorance isn't a luxury you can afford in this game.
Nah, he just is playing ignorance , see why
http://www.elitetrader.com/vb/showthread.php?s=&threadid=123085
fluttrader why don't you join in the discussion constructively and support your opinion with logic and reasoned argument, who knows maybe I'm wrong and you might have valid points to make. That's what forums like this are for, debate.
There doesn't seem much point in me replying to your unrelated comments and attempts to start some sort of infantile flame war though, I hope you'll understand.
Quote from cabletrader:
Ah here we go, when you can't defend your opinion with logic and reasoned argument just resort to making inane comments, not exactly unexpected because there's nothing else you can reply with, what I wrote is fact.
As you'll probably find out, ignorance isn't a luxury you can afford in this game.
Offense is the best defense, as the old saying goes.
You have not provided a single fact about any of your posts. You state that forex is great and aside from few bucket shops no need to pay attention to all other unscrupulous behavior, which in your mind does not even exist.
You also could not find a single valid argument why forex is better then CME futures, where I listed several where futures clearly have advantage. The old argument about forex having more pairs and mini lots is very weak defense. If you know how to make $ in currencies, 6 major futures are more then enough.
I was very ignorant when I discovered forex originally, and it took me some time to figure things out. Yes you can make $ in forex, but to do it in a long run you would need to trade with VERY wide stops, and that is recipe for disaster for 99.9% of traders. You might be within this 0.1% or less that can get currencies direction correctly all the time, and the very wide stops are there for fat tails events only. But if you are that good, you would have dropped spot fx a long time ago,
This discussion goes to no where, so we can stop it.
Regards,
redduke