Moving from "forex" to futures

milktruck · Jul 12, 2008

Im thinking of trading asia close/all of europe and have reservations about trading with pure forex brokers. Im series 3 licensed but have only traded spot at my current firm, and never on an exchange, only institutional platforms. I know how the retail forex guys work but Im not sure about retail futures brokers.

Would retail futures platforms offer quotes 24/7 or is it dependent on there being a particular exchange open that the broker has access to somewhere worldwide?

Do any retail futures outfits have demo platforms I could tinker with? Forgive me I havent looked yet.

Is the futures equivalent of a retail broker like oanda or FXCM to open a futures account and trade the spot contract you are "trading" there? Basically the difference being you have to roll it yourself?

Or is it common to use further out delivery dates for intraday and swing trading?

Any recommended reading? Any potential snags in making the jump?

I feel like I should know this but I am not sure how to approach it from the retail side and would appreciate any direction you could point me.

Im not looking to be given a fish, but maybe shown a resource to teach myself to fish in a new pond. Probably stretching the metaphor here but you get it...

Surdo · Jul 12, 2008

Fx Futures trade on Globex essentially 24/5 with a dinner break.
This link has tons of info. There are really only 6 pairs that are worth trading.

http://www.cme.com/trading/prd/fx/education.html

Ninja Trader offers a FREE demo.

http://www.ninjatrader.com/webnew/index.htm
You will need to e mail them for a "key" for the data.

If you are trading institutionally, you probably want to use TT and a broker that supports it.

milktruck · Jul 12, 2008

right thanks for the link. i only trade the majors, usdcad, and audusd.

trading weird crosses or news is for a-holes

forex-forex · Jul 14, 2008

Quote from milktruck:

trading weird crosses or news is for a-holes

I have been doing very well trading ALL/MNT during the Mongolian monthly employment reports. Mongolia is accumalting the Albanian Lek, but they will sell if the report is poor.

milktruck · Jul 14, 2008

well then I am sure you will agree you are an a hole

or at least your dealer would think so...

cabletrader · Jul 14, 2008

...and I've been doing quite well trading news so at last (according to milkbutt) me and forex-forex have something in common

milktruck · Jul 14, 2008

well, I guess it matters if you are doing it on an ecn or just in the make believe land of "forex" and just not doing enough volume to matter. if you trade on an ecn during numbers you've got balls, ill say that. however I just can't respect arbing candyland, or think you could do it long term.

maybe I'm wrong?

cabletrader · Jul 14, 2008

Quote from milktruck:

well, I guess it matters if you are doing it on an ecn or just in the make believe land of "forex" and just not doing enough volume to matter. if you trade on an ecn during numbers you've got balls, ill say that. however I just can't respect arbing candyland, or think you could do it long term.

maybe I'm wrong?

I like make-believe candyland with it's fixed spreads, smoothed sugar-coated quotes, and instant fills, the big boys play too rough for me

I doubt the volume I put through matters, 100k, 500k, 1m at times, I'm no George Soros but it pays the bills.

Sure, my marketmaker shades price, requotes when necessary, even freezes prices on occasions but overall they're pretty fair. He makes money, I make money, the alimony gets paid.....everyone's happy!

Long term? I guess it depends on what you call long, I've been plodding away for the past decade so hopefully it will carry on long enough until I hang up my mouse and draw my pension.....

The 'real' market, who needs that kinda grief, not me anyway!