I have been in forex for goin' on 5 years. I have just never wanted to mess with anything else. However, these days trading is my business. And like any business, I want to reduce my expenses.
There are two fronts that have me considereing Futures. The first is the actual transaction costs, Spreads, commissions, etc. So far my Futures Demos have all predominantly had a pound spread of 1 pip. Trade Station Secutites claims to have commisions of $3 per contract round turn. So by comaparison that is about 1.3 pip total spread in Forex terms. No retail Forex can compete with that. In my mind it is a poor man's Prime Broker. Throw in superior execution and true transparency and it just seems to make too much sense to ignore.
The second cost consideration was my E-signal account. I am paying them $160 per month. If I want to get a globex feed, it is another $60 per month. I know all about the free meta charting but it does not satisfy my needs. However, Trade Station is supposed to have all of the goodies that I like about My E-signal chart and If I do 10 contracts (same as 10 std. lots Forex) per month, charting is free.
So my reason for exploring the Futures market is as simple as that. I am looking for input from all of the Futures guys as to anything else that I should no about Futres/ Globex trading. Be it good or bad, educate me please.
FXO
There are two fronts that have me considereing Futures. The first is the actual transaction costs, Spreads, commissions, etc. So far my Futures Demos have all predominantly had a pound spread of 1 pip. Trade Station Secutites claims to have commisions of $3 per contract round turn. So by comaparison that is about 1.3 pip total spread in Forex terms. No retail Forex can compete with that. In my mind it is a poor man's Prime Broker. Throw in superior execution and true transparency and it just seems to make too much sense to ignore.
The second cost consideration was my E-signal account. I am paying them $160 per month. If I want to get a globex feed, it is another $60 per month. I know all about the free meta charting but it does not satisfy my needs. However, Trade Station is supposed to have all of the goodies that I like about My E-signal chart and If I do 10 contracts (same as 10 std. lots Forex) per month, charting is free.
So my reason for exploring the Futures market is as simple as that. I am looking for input from all of the Futures guys as to anything else that I should no about Futres/ Globex trading. Be it good or bad, educate me please.
FXO
Profit is where readiness meets Opportunity