Forex trading compared to Eminis

D

donaldduck3419

I'm currently trading the U.S. eminis, and i started wondering about the forex trading. I know nothing about it, except that it's trading currencies.
I was wondering what are the price movements like? is it like the eminis, meaning a point on the sp eminis equals $50, is it like that? How volitile are they? do they move similarly to the eminis in any way? those who used to trade the eminis know what i mean, eminis have a sort of patter to them, the way they move, how does the forex market move compared to the sp eminis? Does it matter which currency i am trading? Is one more volitile and more liquid than another? if so, how do they compare?

Thanks a lot for all your help.
 
I've recently started venturing into forex myself (from ES) and I like it a lot, I'm even considering moving money into a forex account and trading EUR/USD after the regular ES session. It's insanely liquid, forget about slippage, there's no comissions, instead you pay the spread (which on the most liquid instruments like the EUR/USD is usually 2-3 pips), trading goes on 24/7. Forex (particularly EUR/USD) tends to chop a lot more than ES, in my opinion, gives pleany of opportunities to make a few pips if you're scalping, and quite frequently it takes off on a quick run. I've been experimenting with scalping it with no indicators, just price action, am doing pretty good right now (trading 100,000 EUR/USD at a time, this is about 5000 in margin, my average hold is 10-20 minute scalp, with 100k I make $10 a pip).
 
Quote from ig0r:

I've recently started venturing into forex myself (from ES) and I like it a lot, I'm even considering moving money into a forex account and trading EUR/USD after the regular ES session. It's insanely liquid, forget about slippage, there's no comissions, instead you pay the spread (which on the most liquid instruments like the EUR/USD is usually 2-3 pips), trading goes on 24/7. Forex (particularly EUR/USD) tends to chop a lot more than ES, in my opinion, gives pleany of opportunities to make a few pips if you're scalping, and quite frequently it takes off on a quick run. I've been experimenting with scalping it with no indicators, just price action, am doing pretty good right now (trading 100,000 EUR/USD at a time, this is about 5000 in margin, my average hold is 10-20 minute scalp, with 100k I make $10 a pip).
More...

Where do you get a 2 pip spread?
 
some friendly advice to anyone considering forex.

How many people here on ET "claim" to make a living exclusively from forex? Personally, I don't know any.

However there are many who "claim" to make a living trading the eminis.

All the advantages that people site for forex like ease of entry, liquidity, 24hr trading, and low spreads are all reasons why forex is such an efficient and thus difficult market to trade.
 
Quote from facultus:

What's the difference when trading the curreny futures as opposed to the "regular" currency?
More...

10 to 1 versus 100 to 1 leverage is one...
 
IMO you should be trading longer time trends when trading currency and you have to have enough experience and open mind to be able to add to your positions as you go with the trend..

trading 3 min charts is at least not for me when it comes to forex/currencies..

-pkjr
 
Quote from ig0r:

I've recently started venturing into forex myself (from ES) and I like it a lot, I'm even considering moving money into a forex account and trading EUR/USD after the regular ES session. It's insanely liquid, forget about slippage, there's no comissions, instead you pay the spread (which on the most liquid instruments like the EUR/USD is usually 2-3 pips), trading goes on 24/7. Forex (particularly EUR/USD) tends to chop a lot more than ES, in my opinion, gives pleany of opportunities to make a few pips if you're scalping, and quite frequently it takes off on a quick run. I've been experimenting with scalping it with no indicators, just price action, am doing pretty good right now (trading 100,000 EUR/USD at a time, this is about 5000 in margin, my average hold is 10-20 minute scalp, with 100k I make $10 a pip).
More...


this thread is right on my mind. i follow the es, but have been reading all the forex stuff. what i have been wondering is would it add to my bottom line if i added forex? i would love to learn more and gain more understanding into forex. what you were saying with scalping pips, you said it had been successful. how so, what do you see you can get out of it? anyway, i hope this thread continues. thanks.
 
Quote from Boomer:




this thread is right on my mind. i follow the es, but have been reading all the forex stuff. what i have been wondering is would it add to my bottom line if i added forex? i would love to learn more and gain more understanding into forex. what you were saying with scalping pips, you said it had been successful. how so, what do you see you can get out of it? anyway, i hope this thread continues. thanks.
More...

I've done it for about 3 days now for an hour or two at night each day. I'm up 500 so far trading 50,000 EUR/USD units at a time (3000$ of margin with 20:1), I'll start on 1 day charts, then zoom down to 3 hour, 30 min, 10, 5, and 1 min drawing in trendlines and any price patterns I see. Then I just trade off of them on the 1 min, I'll usually take 5-10 pips on half my position and try to get 5-10 more with the rest of my 50k. Trading 50,000 units each pip is $5, in a 2-3 hour period I'll do about 5-6 round trips. Has been working so far but don't know if I'm just getting lucky.
 
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