To all readers of this thread:
Be nice. If you feel you need to pick apart every sentence someone types, do it in chit-chat.
Be nice. If you feel you need to pick apart every sentence someone types, do it in chit-chat.
Why trade stocks , when you can trade currencies
- Thread starter globalfxllc
- Start date
It drives me nuts every time I hear company reps touting their "no commission" fx trading. In other markets, brokers get a commission per trade for their troubles. The spread is not in their control, so the commission is their income.
Fx brokers make the spread, so that is their income.
So please call it what it is.
A 100k fx lot gets hit with a 3 pip "commission" for $30, while a 125k futures contract gets a $5 commission. Taking into consideration a two tick spread, that makes $30 for a 125k contract.
Liquidity is the advantage of spot fx, not the "free commissions."
Fx brokers make the spread, so that is their income.
So please call it what it is.
A 100k fx lot gets hit with a 3 pip "commission" for $30, while a 125k futures contract gets a $5 commission. Taking into consideration a two tick spread, that makes $30 for a 125k contract.
Liquidity is the advantage of spot fx, not the "free commissions."
hanseng,
is liquidity even an issue with the normal daytraders volume ??
surfer
But of course it's fine for someone fishing for business to make patently false statements such as:
>There is not one day trader thats going to say
>that they are making money , i mean any money
>trading stocks , not to mention 10,000 a month ...
>and on consistent basis. No Way!
That of course belongs here and not in chit chat.
Furthermore they can then move on and make misleading statements regarding the price of trading ("no commissions") and that of course doesn't belong in chit chat either.
JB
PS: I have never before commented regarding a Moderator. I think it's pretty much a thankless job and I thank them for it. I just couldn't resist this one because the thread author is so tranparently misleading.
>There is not one day trader thats going to say
>that they are making money , i mean any money
>trading stocks , not to mention 10,000 a month ...
>and on consistent basis. No Way!
That of course belongs here and not in chit chat.
Furthermore they can then move on and make misleading statements regarding the price of trading ("no commissions") and that of course doesn't belong in chit chat either.
JB
PS: I have never before commented regarding a Moderator. I think it's pretty much a thankless job and I thank them for it. I just couldn't resist this one because the thread author is so tranparently misleading.
I read it more as a marketing approach than a statement of fact.
Everyone here knows to beware and do their own due diligence.
What do you care whether he posts this or not? Are you concerned on behalf of newbie traders?
This is not meant to be confrontational. I am just wondering.
Everyone here knows to beware and do their own due diligence.
What do you care whether he posts this or not? Are you concerned on behalf of newbie traders?
This is not meant to be confrontational. I am just wondering.
Quote from marketsurfer:
hanseng,
is liquidity even an issue with the normal daytraders volume ??
surfer
I was thinking in terms of the liquidity available in all hours, not necessarily in terms of volume for a daytrader. I know nothing about the volume fx daytraders execute per trade, but for the spot fx'ers, the spread (usually) stays the same regardless of the time.
Funny thing is I assumed the spread would get fairly wide in the futures after Chicago hours; I just looked at TWS and it is a 1-2 tick spread in the euro right now.
I guess even that edge is shot.
Obviously our company is in business to make money. Who isnât?
We are a legitimate company, that offers a facility where traders can come and trade;
Learn the market with our help, and then we give you money to trade.
Sure there is an advantage to having many traders trading for a company.
We give you an option of trading at our office in a professional trading firm versus trading from home. We are not saying trading from home is a bad thing; itâs just that some people prefer to be in an office environment amongst other traders and thatâs what we provide.
We have about 30 traders now in both shifts. They are very happy to be here, in fact most of them were happy to find a firm like ours to trade FX.
Believe me we are not in business to screw anyone, you can come and check us out Every Thursday.
This is a new market for many traders. Up until now there are no offices where you can go learn the market and trade it.
Whatâs wrong with that?
Most old traders area bit bitter about this market because they have been taking big losses. The reason for that is they donât have the proper knowledge of the FX market.
Come learn how to trade profitably and grow with us.
What we are doing is actually helping traders. Traders are making money and we are making money. You as an individual have to build your trading career and we are here to help.
Letâs not judge each other for who is making more and how.
We provide everything a trader needs to trade. Itâs you option to come or not.
You have an option of coming to our office and checking us out and decide on your own if this position suits you or not.
.
Your success is our success, so itâs in both of our advantage.
We are a legitimate company, that offers a facility where traders can come and trade;
Learn the market with our help, and then we give you money to trade.
Sure there is an advantage to having many traders trading for a company.
We give you an option of trading at our office in a professional trading firm versus trading from home. We are not saying trading from home is a bad thing; itâs just that some people prefer to be in an office environment amongst other traders and thatâs what we provide.
We have about 30 traders now in both shifts. They are very happy to be here, in fact most of them were happy to find a firm like ours to trade FX.
Believe me we are not in business to screw anyone, you can come and check us out Every Thursday.
This is a new market for many traders. Up until now there are no offices where you can go learn the market and trade it.
Whatâs wrong with that?
Most old traders area bit bitter about this market because they have been taking big losses. The reason for that is they donât have the proper knowledge of the FX market.
Come learn how to trade profitably and grow with us.
What we are doing is actually helping traders. Traders are making money and we are making money. You as an individual have to build your trading career and we are here to help.
Letâs not judge each other for who is making more and how.
We provide everything a trader needs to trade. Itâs you option to come or not.
You have an option of coming to our office and checking us out and decide on your own if this position suits you or not.
.
Your success is our success, so itâs in both of our advantage.
Hey folks:
In answer to the original question, I trade both. In fact, I have current positions in 5 markets. This diversification allows me to smooth out returns and reduce portfolio risk. Since we are not concerned with protecting newbies, I will say that forex is fine if you have a suitable counterparty. By suitable I mean a bank or exchange. I have worked with Germany's Bundesbank for years now without a hitch. Saxo bank also seems to have a good rep. As far as using a firm like Global or any other for that matter, I don't see any advantage and there are significant risks as most of you know. The idea that there is more opportunity trading currencies is simply incorrect. In my experience, specific currencies will exhibit more constant trending action, but on the other side the trader has to deal with government interventions. Best Regards, Steve46
In answer to the original question, I trade both. In fact, I have current positions in 5 markets. This diversification allows me to smooth out returns and reduce portfolio risk. Since we are not concerned with protecting newbies, I will say that forex is fine if you have a suitable counterparty. By suitable I mean a bank or exchange. I have worked with Germany's Bundesbank for years now without a hitch. Saxo bank also seems to have a good rep. As far as using a firm like Global or any other for that matter, I don't see any advantage and there are significant risks as most of you know. The idea that there is more opportunity trading currencies is simply incorrect. In my experience, specific currencies will exhibit more constant trending action, but on the other side the trader has to deal with government interventions. Best Regards, Steve46
Rich:
>I read it more as a marketing approach than
>a statement of fact.
Well Ok, his marketing approach is to say things that aren't true. Fine.
>Everyone here knows to beware and do
>their own due diligence.
Hey, I'm a pretty hard Libertarian myself so I'm not asking for a governmental investigation, but what's wrong with calling out the BS?
>What do you care whether he posts this or not?
He's perfectly free to post as far as I'm concerned. Hell, it's not my board. Turn it into a pump and dump Yahoo board if you wish. You as a moderator certainly have more of an implied right to do this than I. My only comment to you regarded the statement that calling out the BS belonged in Chit Chat with the implication that the BS deserved to stay. I disagree -- nothing more, nothing less.
>Are you concerned on behalf of newbie traders?
I'm concerned with BS (marketing approach or otherwise) being called BS.
JB
>I read it more as a marketing approach than
>a statement of fact.
Well Ok, his marketing approach is to say things that aren't true. Fine.
>Everyone here knows to beware and do
>their own due diligence.
Hey, I'm a pretty hard Libertarian myself so I'm not asking for a governmental investigation, but what's wrong with calling out the BS?
>What do you care whether he posts this or not?
He's perfectly free to post as far as I'm concerned. Hell, it's not my board. Turn it into a pump and dump Yahoo board if you wish. You as a moderator certainly have more of an implied right to do this than I. My only comment to you regarded the statement that calling out the BS belonged in Chit Chat with the implication that the BS deserved to stay. I disagree -- nothing more, nothing less.
>Are you concerned on behalf of newbie traders?
I'm concerned with BS (marketing approach or otherwise) being called BS.
JB