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.

