Newbie question for froex traders

Quote from OddTrader:

EUR/USD:

If we look at this daily chart http://www.gcitrading.com/fxtcharts.htm
, yesterday's high was 1.2302.

However, if read the 5-min chart here
http://quote.fxtrek.com/misc/fxcm.asp
, the yesterday's high could be 1.2330. And it seems the prices (and possibly some trades) were displayed until 17:35.

Any comments on this problem (or maybe something only I don't understand)? :confused:
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The problem with retail forex brokers is that there is an inherent conflict of interest because the broker takes the other side of your trade and supplies the prices that you are trading. This looks like a classic example of price manipulation to run customer stops. Here is a link to the chart of the futures and the futures were running approximately a 3 tic/pip spread under the cash on Friday: (click "intraday chart" for Euro FX (E)) http://legacy.futuresource.com/partners/cme/default.asp?id=Foreign Exchange
 
Quote from TRADERguy:

This looks like a classic example of price manipulation to run customer stops.
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Do you think it only happens (every!?) week-end at Closing? :confused:
 
until 5 pm est and

some fx spot prices end at 3 pm
, some at 4 pm , some at 5 pm est (?)

so that can explain what you might be seeing as different
prices in spot ?
 
Quote from OddTrader:

Do you think it only happens (every!?) week-end at Closing? :confused:
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No, I would guess that it happens whenever they can make a killing by doing it or at least as often as they think they can do it and not loose too many customers. I doubt that it has anything to do with it being Friday but then I can be a cynical bastard. :D
 
Quote from trader333:

I am a new forex trader, moved from sp emini futures. I want to ask few general questions.

(1) Which dealer offers least spread between bids and asks.
(2) Is esignal a good choice. What is their spread.
(3) Which dealer offers a good value for trader.

Thanks for response
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Trader333, I feel that only with forex can you trade $10K into a billion dollars. But, after studying forex for about 7 months I think it can be done certainly. You do need to (at least) double your account (or close to it) every year though. Check this out...

Year 1 $10K
Year 2 $20K
Year 3 $40K
Year 4 $80K
Year 5 $160K
Year 6 $320K
Year 7 $640K
Year 8 $1,280,000
Year 9 $2,560,000
Year 10 $5,120,000
Year 11 $10,240,000
Year 12 $20,480,000
Year 13 $40,960,000
Year 14 $81,920,000
Year 15 $163,840,000
Year 16 $327,680,000
Year 17 $655,360,000
Year 18 $1,310,720,000 <-- Year you hit 1 billion!

Think big! Forex can take you there. If you pay taxes your time to reach one billion may be longer, or, if you do better than double your account each year, it may take you less time to reach billion dollar status.

c
 
Anyone has got any experience trading forex OTC options with either Saxo or CMC?

Also how about GFI/Fenics?

Your comments would be appreciated. :p
 
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