Is Anyone Making Money In Currency Trading?

Quote from manz66:

I do currency day trading, and I am successful.
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I suppose I am too, but I am still a demo jockey at this point. I've been looking at 120 and 240 minute charts and generally speaking, when I see an opportunity I just bracket my order with a stop that makes sense and a conservative limit and let it go. Then I turn the machine off and go for a walk or go grab a beer with a friend. :)

Most holds last 1-2 hours, and could go further.
 
Quote from crazy_trader:

I think you have to be a US resident to get FDIC protection.
Read somewhere in the Oanda's message forum.
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A resident or a citizen? Hmmm, good info and I'll look into this further, thanks!
 
Not sure how related this chat will be to the subject here, but I thought to post:

Using Equity and Future Strategies to Trade Foreign Currencies

If you've ever wanted to learn about foreign currency trading, our next chat session is for you. Kathy Lien, Chief Fundamental Strategist of FXCM, will talk about how equity and future strategies can be used to profit in the FX market.

That's Wed., July 16th at 4:30PM in the Elite Trader Chat Room.

André
 
Quote from Andre:

Not sure how related this chat will be to the subject here, but I thought to post:

Using Equity and Future Strategies to Trade Foreign Currencies

If you've ever wanted to learn about foreign currency trading, our next chat session is for you. Kathy Lien, Chief Fundamental Strategist of FXCM, will talk about how equity and future strategies can be used to profit in the FX market.

That's Wed., July 16th at 4:30PM in the Elite Trader Chat Room.

André
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you are welcome for the idea.

:D
 
My plan has me starting limited forex this month. In terms of time to set up an account outside IB, learn to operate it, screen space, and other considerations, I'm inclined to try the E7 contract.

Is this the mini version of a Euro contract referred to above and does anyone have experience with this or some other suitable contract through IB they would comment on. I have casually watched it for several months and the spreads seemed fairly wide. I looked at the J7 contract on yen at CME and couldn't see that it traded much at all.

References are to IB symbols.

Thanks.


Geo.
 
Quote from Trader5287:

My plan has me starting limited forex this month. In terms of time to set up an account outside IB, learn to operate it, screen space, and other considerations, I'm inclined to try the E7 contract.

Is this the mini version of a Euro contract referred to above and does anyone have experience with this or some other suitable contract through IB they would comment on. I have casually watched it for several months and the spreads seemed fairly wide. I looked at the J7 contract on yen at CME and couldn't see that it traded much at all.

References are to IB symbols.

Thanks.


Geo.
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Try entering 'EUR' then choose the Futures -> Month/Year -> Globex from the IB menus. That should give you the larger sized Globex executed contract for the euro.
 
Quote from YYNOTT:

There are a lot of traders who would like to know. If there are any PROS out there please ENLIGHTEN us.....
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............some of our most "profitable" traders are our currency traders................I would consider them professionals....:p

rttrader -
 
Quote from marketsurfer:




i am in no way experienced in forex, having only traded it for a month, but i am in NQ/ YM. the differences are smoother trends in forex, slower moves generally and very little of the ping pong action you see in ES/NQ.

best,

surf
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As marketsurfer has just stated...I am a NQ/ES trader who also has recently started trading the FOREX/currencies...trends seem to "hold" longer and I need to be a little more patient and let trends develop to make your profits, it's a different 'style' of trading....also I need to do a LOT more international research as well especially foreign monetary policy. Just my .02 cents worth...

rttrader -
 
I just made my first trade in the Forex, walked away with a whole $12 in profit. :) I like this forex. It does take more patience than US futures. It is nice to be able to trade at 4PM west coast time.
 
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