Forex, the most liquid market around???

larrybf · Mar 17, 2004

THANKS STEVE,,,, i been an IB custoner for almost 4 years... first time someone made me aware of this. you just made me feel a lot better.

gamalruach · Mar 17, 2004

Quote from virgin:

OANDA only allows 10 million Units per clip.....

Sorry, my mistake. I meant 100 "lots" of 100K each.

traderob · Mar 17, 2004

Quote from donaldduck3419:

Forex is supposed to be the most liquid market that really moves. But, i'm looking at the intraday volume, and it's not very high. I was under the impression that if i want to day trade a $20 mil account, i could do it with Forex. But that doesn't seem to be so.

What market could i use to trade an account that large or lets say even a $200 mill account (hey this is just a hypothetical question), and enter the position all at once? What's really the most liquid out there?

Unless you have funding like the Japanese MOF I wouldn't worry that spot Forex won't be liquid enough.
Perhaps you are thinking of globex, where liquidity is sometimes low?

donaldduck3419 · Mar 17, 2004

people come on, i was just asking a question. I said hypothetically if i had a $20 mil account. If my account was that large, i would be in the bahamas sipping margaritas.
Ahhhh...
thats good margaritas.

Diode · Mar 18, 2004

Quote from donaldduck3419:

I said hypothetically if i had a $20 mil account. If my account was that large, i would be in the bahamas sipping margaritas.

"Compute one penny invested at the time of Christ, compounded at 3 percent per year. Then consider why nobody has anywhere near that amount these days." -- Ed Seykota interview, Market Wizards

Seykota blamed it on inflation, but now we know the real reason. I'm going to name it Diode's Law (Conservation of Ambition):

The reason most people don't become filthy rich is that once they become moderately rich, they retire to the Bahamas and sip margaritas.

donaldduck3419 · Mar 18, 2004

Quote from Diode:

The reason most people don't become filthy rich is that once they become moderately rich, they retire to the Bahamas and sip margaritas. [/B]

lol.

but who said i want to be filthy rich?

Scarab · Mar 18, 2004

Forgive my ignorance, but how do you check intraday volume on the Forex spot market? Is that info available in real time? That would be helpful, but I read that is not available because there is no central trading location.
Thanks,
Scarab

TRADERguy · Mar 18, 2004

Quote from Scarab:

Forgive my ignorance, but how do you check intraday volume on the Forex spot market? Is that info available in real time? That would be helpful, but I read that is not available because there is no central trading location.
Thanks,
Scarab

You can't. The best you can do is to check the volume of the CME currency futures.

http://www.cme.com/dta/hist/bulletin.html?bullnumber=2004052&pagenum=01&seq=2-16-2004

donaldduck3419 · Mar 18, 2004

Quote from Scarab:

Forgive my ignorance, but how do you check intraday volume on the Forex spot market? Is that info available in real time? That would be helpful, but I read that is not available because there is no central trading location.
Thanks,
Scarab

yes, you can get the volume. Data vedors like eSignal and TradeStation provide such data.

TRADERguy · Mar 18, 2004

Quote from donaldduck3419:

yes, you can get the volume. Data vedors like eSignal and TradeStation provide such data.

It can't be the entire interbank volume because it is a decentralized system with no reporting requirements (although all banks will probably clear through the CLS Bank eventually). If you have access to one of these vendors and could check with them on what kind of volume number they are distributing, I'm sure I would not be the only ET member interested in this.

Thanks,