hey john.
thanks for the confirmation of what i have experienced thus far. in my opinion , the research involved is way more interesting than equity research since it encompasses global events.
best,
surfer
Is Anyone Making Money In Currency Trading?
- Thread starter YYNOTT
- Start date
hey john.
thanks for the confirmation of what i have experienced thus far. in my opinion , the research involved is way more interesting than equity research since it encompasses global events.
best,
surfer
In the forex chat people were talking about the expensive spreads. But for a $100K lot, it costs $50 (5 pips) to cross the market. A similar position in ES would be 2 contracts. To cross the market in ES would cost $25 (spread) + $9.60 (commiss) = $34.60.
The costs are close, but any rapid fire forex trading would get too expensive.
The costs are close, but any rapid fire forex trading would get too expensive.
People did seem to get stuck on the cost.
I thought it was a great chat. Very informative.
We had alot of great questions. If anyone's interested:
http://www.elitetrader.com/ch/transcripts/currency_trading.cfm
André
I thought it was a great chat. Very informative.
We had alot of great questions. If anyone's interested:
http://www.elitetrader.com/ch/transcripts/currency_trading.cfm
André
Quote from corvus:
Amen brother. I came in late last night, saw a setup, put in a bracket, and woke up with 65 pips profit
The other day, same thing...I came home from work, saw a setup, put in a bracket, went out for a drink with friends, came back to 15 pips.
cool ! nice work, corvus !
surfer
Hey Andre, thanks for the session, it's been REALLY helpful.
Nice going, nice initiative, nice forum ...
Keep up the good work!
Nice going, nice initiative, nice forum ...
Keep up the good work!
Forex market are not easy to trade, but are much more atractive in terms of liquidity. Most probably you know that theres no such thing as easy money... Forex is jungle. Cruel market, but as someone not new to it I belive this is best market to trade. I'm not in stage of diversifying my money into different market and tell you the truth, as long as I am doing ok in forex, its of no interest for me to look at other markets. No other market can offer such liquidity and consiquently such opportunities. Again, its not easy market to trade, and statisticly (not confirmes statistics, but thats the word out there) 95% of individual invertors here loose their money. Most of them take demo trading and are achieving great results. Afterwards, believing to be able to do the same with real money, they open account, wire funds and...oops - money gone. This is very dinamic market we're talking about, and one should have very flaxible system of trading. In addition, money managment should regulate your trading...Descipline is what brings success. I have lots to say, but if anyone interested in forex, there is a great place on the web with discussions, recommendations, general issues...and more. I dont know how well will be interpreted if I link to other forum here, so if interested, I will put a link. Though I belive many know what forum I'm talking about.
Anyways, good trading, everyone, whatever you trade
Rezo.
Anyways, good trading, everyone, whatever you trade
Rezo.
You only *believe* it's a best market. Statistics show that CTA's have higher returns with lower drawdowns trading financials & metals futures than currencies. If you compare commission (or spread) costs to volatility - fin & metals are way more attractive.
Yes, FX is far more liquid. So what? Unless you trade with ~ $100M+ it won't be any advantage. One more thing: I'm very sceptical whether anyone can make money over the long period of time by day trading FX with 4 pips spread...