Scalping forex

marketsurfer · Oct 2, 2003

hi,

you can get "in between" the spread. do you mean place orders in between or actually execute in between.

thanks !

surfer

crazy_trader · Oct 2, 2003

Does anyone has a recommendation for a real time Forex News data provider?

Thanks

headcutter · Oct 2, 2003

"...you are getting a 3 pip spread on the majors. Does that make it worth scalping even? It's still 6 pips round trip to breakeven."

If you buy and then close the position you get a spread of 3 pips, how did you get 6 pips?

SUPat · Oct 2, 2003

I meant to say your paying 3 pips getting in and 3 getting out. So you need to make 6 pips just to breakeven, sorry.

dv8 · Oct 3, 2003

marketsurfer,

to answer your question, yes...you can place both an order and execute an order.
dv8

dnaj65000 · Oct 3, 2003

Quote from SUPat:

I meant to say your paying 3 pips getting in and 3 getting out. So you need to make 6 pips just to breakeven, sorry.

SUPat:
It is a spread and not a commission. Your cost is only the spread itself. There is no commission charge for getting in or out. An analogy could be drawn to stocks:

bid is 30.45
ask is 30.50

If you bought the stock by hitting the ask at 30.50 and got the shares, and you immediately wanted to get rid of it, you would be able to sell it at 30.45. The cost to you is 5 cents(pips) + commissions. Since in FX there are no commissions, you would only lose 5 pips, not 10.

DNAJ65000

coffeezoo · Oct 3, 2003

DNA? Mr.SUPat has no idea what spread is.

SethArb · Oct 3, 2003

trading the CME forex futures
with tight spreads and low commissions

or the spot with wider spreads
and no commissions?

another thing to look at is the fact the the contract specs are different for futures and spot

Wallace · Oct 3, 2003

re: "http://www.propfx.com/spreads_executions.html"
believe refco is using fxcm's systems including the above, don't know the fxcm page, remember the trade volume amount was$5 million per month, contact fxcm for info.

re: 'Forex News' again, fxcm include Thomson's fx only IFR news as a plugin in their 'Trading Station'. Wallace.

crazy_trader · Oct 3, 2003

How many contracts you plan to trade?
The main market maker on future usually
have 3-4 ticks spread. If you are trading 1
contract, that should be a problem.

If you are trading 10 or more... Hmmm

Depend on the time frame you are scalping.
Spread varies from 1-3 ticks. For bigger lot,
spread is usually 2-4 ticks.

Quote from SethArb:

trading the CME forex futures
with tight spreads and low commissions

or the spot with wider spreads
and no commissions?

another thing to look at is the fact the the contract specs are different for futures and spot