Newbie question for froex traders

Honestly, from reading all the posts on this board I have come to this conclusion:

1. You will likely lose money after 1 yr of trading $1000.
2. You WILL win playing poker with my system betting $1000 for the yr.

In fact, I can say you will double your $1000 with my system of playing poker.

Anyone want to learn my system? If so, you gotta tell me your complete trading system. (only if a sure 100% winner)

Thanks,

Mac
 
Quote from Coins:

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.
OANDA.

(2) Is esignal a good choice. What is their spread.
No, esignal is a bad choice.

(3) Which dealer offers a good value for trader.
OANDA.

Thanks for response

You're welcome! Anytime.

Best regards,

C
More...

Yup. Agree.
 
I would recommend trying the demos of several dealers before you settle on one. It can give you a better idea of what to expect with a live account.

For example, with one demo program I used, I had 120-pip (!!!) slippage during a highly volatile period. You can be sure I will not be using them for trading with real money (I won't disclose which dealer it was, except to say that their name begins with "CM").

In that respect, trading FX futures offers a real advantage -- once the trade is made, you don't have to sit around waiting to find out what the final transaction price was -- you already know.
 
Actually all financial instruments traded in real markets suffer from slippage in volatile fast market conditions.

That is a simply a fact of trading based on supply and demand.

Try trading the S&P futures in a fast market where you are moving size and you will find this statement corroborated.

As for oanda at least, you know what price you were filled at when using market orders instantaneously, same as with futures.

But I do agree, do your due diligence, and don't believe what anybody tells you in an industry filled with hype up to outright lies unless you have checked and experienced it for yourself.
 
Quote from Coins:

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.
OANDA.

(2) Is esignal a good choice. What is their spread.
No, esignal is a bad choice.

(3) Which dealer offers a good value for trader.
OANDA.

Thanks for response

You're welcome! Anytime.

Best regards,

C
More...

Yep, I also agree.. with this new policy of ignoring/deleting orders!!! Refco/FCXM is no good... the only 2 good things left are customer support and guaranteed stops. But ignoring/deleting an entry order???!!! Hey, where did the slippage go? if you don't fill on market, then just give me the next market price - hats how the real market works... deleting order unless its 100 pips away from the market and at least 10 mins before the announcements is unacceptable! but no; they claim they to have NO slippage :) so either they let others make money on guaranteed fills during the announcements, or they just do something that is unacceptable - delete order, filled by the customer!

I guess they are in dilemma now. Because many have used the guaranteed fills on volatile market, and on the other hand they claim "what you click is what you get; guaranteed orders, no slippage..."... so they are close to contradicting to their initial values :D...
Until now they were just moving those who were making money on announcements to manual execution; i.e. you request quote from a dealer. Now - this... Sad story fellow traders, sad...

So I guess Oanda is the best choice for private investors... I didn't have a live account with them, but according to what I heard, and I heard a bit - no one ever said a single bad thing regarding Oanda. Except for the customer support taking long time to reach; but if there are no big and many problems with them, I guess support will not be needed that much :)

Tiger is right, you can ask, but decision is yours. With Oanda good reputation and tight spreads, its one of the best choices.
 
How about Saxo Bank, as it seems to accept any order below $10 mil at the displayed price on screen (something like that). Any commnets from anyone? :confused:
 
Re Saxo, unlike many other brokers I haven't heard anything negative about them, but haven't traded there either so don't have first hand knowledge.
 
Also didnt hear anything bad about them also and in fact I know many serious money managers working through Saxo.

Well established, respected institution.
 
My understanding concurs with TigerO's regarding slippage of all instruments.

Read Market Wizards about pit traders and specialists if you doubt this.

I never cease to be amazed with OANDA's tightness and accuracy in volatile markets. I always expect there to be more slippage but usually OANDA is right on the money to the pip.

Good trade,

c

Quote from TigerO:

Actually all financial instruments traded in real markets suffer from slippage in volatile fast market conditions.

That is a simply a fact of trading based on supply and demand.

Try trading the S&P futures in a fast market where you are moving size and you will find this statement corroborated.

As for oanda at least, you know what price you were filled at when using market orders instantaneously, same as with futures.

But I do agree, do your due diligence, and don't believe what anybody tells you in an industry filled with hype up to outright lies unless you have checked and experienced it for yourself.
More...
 
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