Where's The Professional ET Forex Traders?

Quote from secxces:

One other thing I would like to comment on.

Volatility Analysis in the Forex

I know no broker can adequately / realistically provide proper volume for any currency pair, due to no centralization. However, if my thoughts are correct, using a moving average of volume or any volume based lagging indicator for that matter, would still prove to be in good use. By good use I mean, they show exactly what they are suppose to show and would show the similar / relatively similarly the same thing as if there were a central exchange and volume could be calculated correctly. I mean, if lets say your using two moving averages of volume, and you look for an increase in volume to trade in the manner you do so, when the two cross you would say, there is adequate volume in the market. IMO the cross would occur in the same position/close to the same, as if it were centralized. I cant see the volume beeing off so much that it would effect things like this in anyway. The general direction of smoothed volume cant be wrong. Or am I wrong?

Comments?

-secXces
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I never found volume to be much use on forex (or hsi for that method).

My test is: does the confirmation (or whatever setup it gives) result in an overall improvement in my expectancy.

For forex (see too little of the total volume) and hsi (too many games being played at critical junctures) it didn't generate an improvement. For Nk and US stocks and indexes it was useful.

So I trade price only for hsi and forex (with a couple of mas to improve my perception of trend, support and resistance).
 
Quote from secxces:

Were's The Professional ET Forex Traders?

Im just wondering were, or if any, is the professional forex traders on the ET boards. I see stock, future, and option traders frequently, but I rarely, if not never, see any forex traders. Forex Futures or Forex Spot, neither?

I find it a little hard to believe. No posts in the ET P&L 2006/2007 threads, no forex blotters, no strategy discussion, no nothing. Sure every once in a while we get a thread or two related, but nothing very pro wise. Is it tapped or untouched? I have read many time's the reasons why to trade the forex, why shouldn't one? I would think more technical analysis traders would lean more towards these markets then any others. I guess the futures are pretty popular in comparison. With the new changes with CME is anyone thinking of switching over or trying it out?

Anyone care to discuss?

- secXces
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The Elite Trader forex forums have died down recently compared to a year ago. Maybe the RefcoFX fallout had a negative effect?
 
Quote from kiwi_trader:

I never found volume to be much use on forex (or hsi for that method).

My test is: does the confirmation (or whatever setup it gives) result in an overall improvement in my expectancy.

For forex (see too little of the total volume) and hsi (too many games being played at critical junctures) it didn't generate an improvement. For Nk and US stocks and indexes it was useful.

So I trade price only for hsi and forex (with a couple of mas to improve my perception of trend, support and resistance).
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Kiwi,
Thanks for your reply,

Volume definetly helped confirmation wise. I use a T3 Smoothed MA of Volume for analysis. Works well IMO.

For some reason, I could never wrap my head around S&R trading. I used to use momentum based slowing and speeding to identify sup and res levels. I mean, I understand it, See it, Have traded it, just never felt comfortable with it. Guess I just need something more. To each his own I assume.

If you get around to it, could you post an example trade you have done, or do you have a post I could relate to? Ill post a chart of mine aswell.

Im actually just looking into the idea of diversifying my systems in order to be more consistent. Testing more strats.

-secXces
 
Quote from illiquid:

Sry for that post. There are a few of us here and there who trade mostly currencies (futures here).

I think most of those who trade retail spot haven't really been trading long, it's a relatively young crowd who chose forex mostly because of small account minimums. Those that have been around awhile know pretty much to stay away from pseudo-markets offered by bucketshops (I tried to think of a euphamism but that was the best I could do).

I don't know why there aren't more on ET who trade this market, it's liquid enough most of the time and moves very well. The volatility is great as long as you pick your spots and not try to catch every single jiggle.
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LOL. How many figures of your returns in % (say 100% is 3 figures) did you make, as a great FX futures trader?

http://www.elitetrader.com/vb/showthread.php?threadid=83149
 
Quote from OddTrader:

LOL. How many figures of your returns in % (say 100% is 3 figures) did you make, as a great FX futures trader?

http://www.elitetrader.com/vb/showthread.php?threadid=83149
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http://www.elitetrader.com/vb/showthread.php?s=&postid=1309552#post1309552

Quote from illiquid:

If you're trading futures on an individual level, you can pretty much throw percentage returns out the window, they are meaningless. They should never figure into your strategy as a goal, a target, a measure of success etc.

There are those with strategies that require large accounts of opm in order to make the 20% that they can live off of, perhaps cash out big after a few good/lucky years and retire to an island somewhere, but thats a totally different game in a different world that cannot be played with personal capital.

Those of us crazy enough to try to figure it all out on our own have a separate yardstick. To put it crudely, imo a successful individual futures trader is one who can take a 5-figure account to 7 in about 2 years as a baseline, before capital appreciation reverts to income as a matter of size. Percentage returns are meaningless. The point being, the real "goal" for an individual trader is the ability to remain completely self-sufficient at that certain level only the markets can provide, all the way into retirement -- and why stop there. That is the real "perk" of independent trading, imo.
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Quote from siki13:

Unfortunately for you that statement
is completely true and if illiquid has succeed doing it is besides the point
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Looks like you haven't got the point Yet!

I may be wrong, but my belief is no any truly successful FX futures trader would have the right of constantly belittling spot FX traders (or any traders), no matter you think how stupid or smart they are.

There is another forum for "Financial Futures". :confused:

Bye!
 
Quote from OddTrader:


I may be wrong, but my belief is no any truly successful FX futures trader would have the right of constantly belittling spot FX traders (or any traders), no matter you think how stupid or smart they are.
Bye!
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Thats true
 
I see the point you were trying to make oddtrader. I may not be seeing the context though.

Back to the topic at hand, Does anyone trade FX Futures or FX Spot full time?

Anyone?

- secxces
 
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