Are there drawbacks to working with such a liquid market?

Quote from RedDuke:

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

Well at least you've got yourself a point of view, even if it is a little misguided.

No need for 'very wide stops', I trade intraday with never more than a 30 or 35 pip stop unless I'm scaling into a longer term yield positive trade.

Of course unscrupulous behaviour exists in forex, it exists in every market and pretty much every business come to that, it's up to the trader to identify what that unscrupulous behaviour is and to try and find a way to neutralize it or turn it to his advantage, or else find another broker who is honest.

I trade all sorts of exotic pairs simply to exploit their volatility, Eur/Usd might be fine for some people but it's a bit too limiting for my style of trading.

As for getting "currencies direction correctly all the time", if you're a trader you'll already know it's not about 'all the time' it's about probability, control of risk, and maximizing profit. I know traders who have an abysmal ratio and they make some very healthy returns.

Sorry, I haven't read anything here to convince me that your trading experience is anything more than novice level, and I haven't read anything to convince me to abandon a market I've traded for years in favor of futures, if anything it's confirmed I'm in exactly the right place for what I do. I respect your decision to trade futures, that's your choice, I trade spot and that's my choice.
 
Quote from cabletrader:

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.

I have done nothing but that by stating facts of the REAL forex market (this is not the bucketshop maket you defend)
I encourage anyone to go over my posts to learn more
I am NOT going to start a flame war in this thread





P.S. Should I listen to Cabletrader ?
http://www.elitetrader.com/vb/showthread.php?s=&threadid=123085&page=1
 
Quote from fluttrader:

I have done nothing but that by stating facts of the REAL forex market (this is not the bucketshop maket you defend)


The 'real' forex market? Well the 'real' foreign exchange market is cash obviously, and the options available to a trader wanting to trade cash are fairly limited.

Good idea, let the reader decide :)

ps I'm not asking anyone to listen to me, it's a discussion, people make up their own minds, lol

Are we done yet?
 
Quote from cabletrader:

... Sorry, I haven't read anything here to convince me that your trading experience is anything more than novice level ....

Exactly my thoughts, could not have said it better myself.
 
Quote from RedDuke:

Exactly my thoughts, could not have said it better myself.

The only difference being I reply to the points you make whereas you seem unable to, I wonder why that is :p
 
Quote from fluttrader:

Exactly, instead of your long ramblings to defend the bucketshop market , start a journal with live calls to show us how non-novice your trading is , wanna bet you will come up with an excuse not to do so lol




P.S. Should I listen to Cabletrader ?
http://www.elitetrader.com/vb/showt...d=123085&page=1

lol, way too predictable! What does my trading have to do with this thread, or is that the best you could come up with in reply to my posts?

But I'll tell you what, seeing as I'm such a good sport and seeing as you appear to have so much time on your hands, I'll take the other side of all the live calls you post, how's that? It will save us both a lot of time as you can follow the trades live and verify the results as you go. You do know how to trade don't you?

Please let us have the link to your trading journal as soon as you start it, thanks!

'wanna bet you will come up with an excuse not to do so lol'
 
Discussion is always useful for me.
I'm not trading.
I'm learning.
In this thread I have learned.
I've learned that fx markets have specific characteristics that other markets haven't. And these is not written on books or on the brokers' contracts.
I'm not interested in who is right and who is wrong.
Pro-Futures and Pro-Spots both have taught me something that will help me to be slaughtered !
 
The cash FX brokers only offset the positions that are heavily skewed to one side. For example if all their clients are buying or selling. If they can match the trades in house they will. They do not offset and hedge each trade. garcia was somewhat correct. read the fine print in your account forms.
 
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