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  • #81
  • Dec 3, 2006 10:59am Dec 3, 2006 10:59am
Quoting Abouelzelouf
Thank you Moe
welcome.
If I Go Broke Trying Then I Will die happy.
  • #82
  • Edited Dec 5, 2006 10:37am Dec 3, 2006 6:59pm | Edited Dec 5, 2006 10:37am
Quoting Abouelzelouf
I am looking for new broker.
I usually trade the news.
I prefer fixed spread.
any suggestions?
Thank you
Or you could try TradexFYX at {link removed, see rule #3}
The framework is there; we just have to work on our frame of mind.
  • #83
  • Jan 12, 2007 10:09am Jan 12, 2007 10:09am
Quoting turbokaos
How many time you going to post this SPAM
Won't happen again. I just want to be sure people don't fall for the 0 spread deal... LOL. It's 0 spread + 100% of your profits if you are a winner. schweeet.

I won't post anything else about them though... Just trying to protect the pubilc from these idiots. Sorry if you thought it was spam.
  • #84
  • Feb 8, 2007 4:30am Feb 8, 2007 4:30am
Quote
I understand your point,but there`s something one can get trading for a bank,that he could never get trading from his home.Like you`ll better understand the game trading from inside.95% of new traders fail,I don`t think it`s same percentage for people that learned trading at banks and institutions.One has greater edge in the bank.Than you can scalp your clients positions,so you have like free trades.Than you can earn more because you trade large amounts of dough.Like,even if you are great trader,and make,let`s say 50% per year.First you need who knows how many years to become real pro.But let`s say you are really,really good,and you start trading like a pro after 1 year.Than when you open live account,I`m not sure how many people are there that can open account larger than 10 G`s .Now how many years one needs to trade with 50% ROI per year to get to million $ ? and with bank,I think you`ll trade that size in notime.So,I think that biggest problem is that one can`t easily get that kind of job.I don`t know for others,but I`ll rather trade my last 2 years trying to learn to trade(`cause I didn`t learned much,at least I`m not earning) with 5 years of trying to get that kind of job and getting it.
I think forex is like producing wine,or maybe chocolate or something.Probably you can learn it yourself,but if you have mentor that is already king in that field,you`ll do much better.
At least that`s MHO.

You have good points there. But don't you think the retail traders who trade profitably from home, without any first hand information nor corporate advantage, without scalping techniques and without knowing market depths, are more skillful than those traders at the banks?
  • #85
  • Feb 15, 2007 4:36pm Feb 15, 2007 4:36pm
the advantage that retail traders (from home) have is that they are essentially the "small fish" in the pond relative to the big bank traders. that means that they can be more nimble in getting in and out of the market because the size they're moving is for the most part inconsequential to the enormous volume bank traders are moving around.in my opinion, comparing retail traders to bank traders is like comparing apples to oranges...the techniques used by each group are different because the overall strategy behind their trading logic are very different.banks (sell-side) are price makers whereas retail traders are price takers...so that in and of itself dictates a different approach to trading.there are great traders in both camps but based on completely different approaches.
  • #86
  • Feb 16, 2007 9:39pm Feb 16, 2007 9:39pm
Quoting risktaker989
the advantage that retail traders (from home) have is that they are essentially the "small fish" in the pond relative to the big bank traders. that means that they can be more nimble in getting in and out of the market because the size they're moving is for the most part inconsequential to the enormous volume bank traders are moving around.in my opinion, comparing retail traders to bank traders is like comparing apples to oranges...the techniques used by each group are different because the overall strategy behind their trading logic are very different.banks (sell-side) are price makers whereas retail traders are price takers...so that in and of itself dictates a different approach to trading.there are great traders in both camps but based on completely different approaches.
So basically, retail and bank traders requires different kind of training? If someone wanted to be a good retail trader, they can do it without spending time at banks. Now, I understand why some people chose not to work for the banks.
  • #87
  • Feb 26, 2007 4:45pm Feb 26, 2007 4:45pm
Quoting luqmanz
So basically, retail and bank traders requires different kind of training? If someone wanted to be a good retail trader, they can do it without spending time at banks. Now, I understand why some people chose not to work for the banks.
that's essentially right...the skills that a retail trader require to do well are different than the skills developed by bank traders because of the buy-side/sell-side techniques used by each respectively. additionally, the big hinderance to bank traders is size...sometimes they have such huge size on their books that they can't necessarily accumulate/distribute all at one price point or there about.retail traders on the other hand even if you're pushing 1 mil. plus unit positions can get in/out all at one price point if you wanted to (depending on your strategy) making it possible for you to be more nimble in the market than the banks. this also in part describes why some institutional traders have difficulty transitioning to retail trading and vice-versa.
  • #88
  • Mar 21, 2007 10:17am Mar 21, 2007 10:17am
so mr rusty_fxman, could you please suggest the best and easiest fx broker? what say u about marketiva or fxsol?
  • #89
  • Apr 30, 2007 12:01pm Apr 30, 2007 12:01pm
I don't know if I'm going to ruffle any feathers here, but why doesn't anyone here seem to use fx futures on the globex. I am a futures trader, DAX, S&P, BONDS and FX. I've tried several forex brokers and for my personal tastes, I only us forex broker for position trading. For intraday FX trades the globex "for me" has been unbeatable. To clear up some misconceptions:

1. fx futures are fixed contracts: So. for speculators that insn't a huge issue.

2. Not liquid enough: False. Daily volume for FX on Globex is often higher per day than most retail forex brokers do in one month.

3. Don't want to pay Commissions: Commissions are very low with good brokers, less than $5-$6 round turn. Spread are 1 pt on majors and with a fast platform like photon trader, X-trader ( the pros choice) or transACT execution is lightning fast, typically 2/10's of a second.

4. Central Exchange: Good for retail traders. Counterparty creditworthiness. Its one thing if you trade directly with banks, but for the individual its hard to beat.

Overall, I really like fx futures. Its virtually 24 hours except for about 30 minutes of downtime each day, but its a dead time for fx anyway. I know alot of traders aren't familiar with it simply becuase they don't have any experience with futures trading and thats fine.

Use what works for you. In my case, I can trade fx lightning fast on the same platform I trade other markets which makes it very easy.

I'd like to here feedback on this.

mike
  • #90
  • Apr 30, 2007 12:36pm Apr 30, 2007 12:36pm
Quoting Privacy is gold
read my thread
http://www.forexfactory.com/showthre...?t=5809&page=6

I understand you want people to read this post so you are pasting the link in 100 threads,

but is it really necessary to paste a link to the post that is right above it in the same thread?!

lol
  • #91
  • Apr 30, 2007 12:54pm Apr 30, 2007 12:54pm
I posted it in 3 threads
  • #92
  • Apr 30, 2007 12:55pm Apr 30, 2007 12:55pm
Quoting Privacy is gold
I posted it in 3 threads
but my point is why would u put a link in the original thread, right under the post

have a good day
  • #93
  • Apr 30, 2007 12:57pm Apr 30, 2007 12:57pm
Today are my first posts on a trading forum, ever. There seem to be alot of questions up in the air on these forums regarding brokers. It's always helpful for unexperienced traders to hear a professional's viewpoint.
  • #94
  • May 1, 2007 2:56am May 1, 2007 2:56am
Quoting Privacy is gold
I don't know if I'm going to ruffle any feathers here, but why doesn't anyone here seem to use fx futures on the globex. I am a futures trader, DAX, S&P, BONDS and FX. I've tried several forex brokers and for my personal tastes, I only us forex broker for position trading. For intraday FX trades the globex "for me" has been unbeatable. To clear up some misconceptions:

1. fx futures are fixed contracts: So. for speculators that insn't a huge issue.

2. Not liquid enough: False. Daily volume for FX on Globex is often higher per day than most retail forex brokers do in one month.

3. Don't want to pay Commissions: Commissions are very low with good brokers, less than $5-$6 round turn. Spread are 1 pt on majors and with a fast platform like photon trader, X-trader ( the pros choice) or transACT execution is lightning fast, typically 2/10's of a second.

4. Central Exchange: Good for retail traders. Counterparty creditworthiness. Its one thing if you trade directly with banks, but for the individual its hard to beat.

Overall, I really like fx futures. Its virtually 24 hours except for about 30 minutes of downtime each day, but its a dead time for fx anyway. I know alot of traders aren't familiar with it simply becuase they don't have any experience with futures trading and thats fine.

Use what works for you. In my case, I can trade fx lightning fast on the same platform I trade other markets which makes it very easy.

I'd like to here feedback on this.

mike
I have to comment about the liquidity. Whilst daily volume does provide some insight to the general liquidity of a contract in my view it's as incomplete as saiyng liquidity is tight cos the spread is always 1 tick. Ineed the spread is usually 1-2 ticks on the majors but when there are only a handful of contract at the top of the book, a 1 tick spread might as well be 2. You might say that for retail traders as long as there are more than 5-10 contracts then it makes no difference to you. If you were the only person trading that contract sure, but you aren't and those few contracts are up for grabs by anyone. Around european session you can probably see up to 400 contracts (6E) in a 5 tick range which is far far lower that what you'l get on most ecns.
  • #95
  • May 1, 2007 9:39am May 1, 2007 9:39am
Quoting Privacy is gold
Today are my first posts on a trading forum, ever. There seem to be alot of questions up in the air on these forums regarding brokers. It's always helpful for unexperienced traders to hear a professional's viewpoint.
Privacy,
I sent you a private message.
  • #96
  • May 4, 2007 1:19pm May 4, 2007 1:19pm
For most on this forum, they won't be trading enough size to obsorb all the bids/offers anyways. Even with BIG orders, the slippage won't be much different than low spread ECN's. Even the Biggest ECN's like EBS which is owned by ICAP still push the majority of their biggest orders through on telephones. Understanding what the intentions are for individuals/entities gives you the reasoning for which marketplace they use to place oders. Like myself and some other's I use the globex for my intraday trading. I use forex for scaling into big trades in anticipation of a big big move.
  • #97
  • May 4, 2007 4:17pm May 4, 2007 4:17pm
What a great thread you have there Rusty. Dealers and traders at investment banks have an absolute wealth of information to give us about how the whole thing is managed, and you proved that with your post.

What I have always wondered about though, was how exactly is the price of one currency versus another determined by a broker at any instant of time? Who controls this?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #98
  • Jul 10, 2007 11:32pm Jul 10, 2007 11:32pm
Market maker

http://www.investordictionary.com/Ap...definition.gif
A broker, bank or firm that pledges to provide liquidity by taking the other side of your trade in a given security, currency, or futures contract.

Dealer

http://www.investordictionary.com/Ap...definition.gif
A person or business firm acting as a middleman to facilitate distribution of securities or goods. Typically, a dealer buys for his or her own account and sells to a customer from the dealer's inventory. Thus a dealer acts as a principal rather than as an agent. The dealer's profit or loss is the difference between the price he pays and the price he receives for the same security or goods. The same individual or company may, at different times, function as a dealer or as a broker, who buys and sells for his clients' accounts.

Bucket Shop

http://www.investordictionary.com/Ap...definition.gif
A brokerage enterprise that “books" (i.e., takes the opposite side of) a customer's order without actually having it executed on an exchange.
If I Go Broke Trying Then I Will die happy.
  • #99
  • Jul 11, 2007 7:31am Jul 11, 2007 7:31am
Bucketing

http://www.investordictionary.com/Ap...definition.gif
Directly or indirectly taking the opposite side of a customer's order into a broker's own account or into an account in which a broker has an interest, without open and competitive execution of the order on an exchange
If I Go Broke Trying Then I Will die happy.
  • #100
  • Jul 11, 2007 8:10am Jul 11, 2007 8:10am
By your definition of "Bucketshop", outfits like DB, ABN Amro, UBS are actually bucketshops too. By this definition any marketmaker is a "bucketshop". Internalizing of clientorders is the whole point of a marketmaker. Euromoney mag estimates that on the big singlebank platforms like AutobahnFX, Barx, etc. less than half of the deals are passed on to be hedged, the rest stays in the banks own books. That procedure is in my opinion not dishonest by itself.
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