Forex Question

[waveslider]

Also, which currencies provide the most liquidity? The Canadian dollar trades beautifully, but looking at the continuous contract of the Dollar it looks weird, maybe I have the wrong time settings...

[walterw]

	Quote:	Alex
	Suffice to say, hen's don't have teeth.

Alex : there is one great edge a good forex trader may have over futures trader... and that is volume.... a good futures trader may trade up to 100 or 200 contracts on ES maybe... on ER up to 30 or 50 contracts... wich on a monthly basis they may work some good thousands of dollars profit... now a good forex trader can grow into millons of dollars if he wishes... the market has a tremendous liquidity and there are no maximums regulations....

so if you get good at futures you can aim thousands, but if you get good at forex you can aim millons... cheers Walter.

[Alex]

	Quote:	waveslider
	Also, which currencies provide the most liquidity? The Canadian dollar trades beautifully, but looking at the continuous contract of the Dollar it looks weird, maybe I have the wrong time settings...

For futures contracts it's: Euro, Yen, British Pound, Swiss Franc, Canadian Dollar, Australian Dollar, Mexican Peso.

CME FX Records

[waveslider]

Does anyone have continuous contract symbols for TS? I can find canada but that's about it.

[cooter]

Here's the futures currency symbols traded on the CME/Globex:

Contract Specifications

[Don4]

	Quote:	walterw
	Ok... can someone make a list of decent "non-bucket shop" forex brokers ? I would like to know then wich are the true serious forex dealers for the retail trader.... thanks Walter.

I have been using EFX for a little over 2 months and so far i am very happy with the execution. I mostly place orders before the london session and trade the pound. News usually triggers my trades and slippage is very rare,but the most was 3 pips. Although commission are higher than the others the spread usually runs from even to 2 pips on the majors most of the time.

[notouch]

The 2 non-bucketshop forex brokers for smaller retail traders are EFX/MB Trading Forex (same company) or IB's IdealPro. The only benefit is more flexible size (any size above $25,000 for IdealPro). I wouldn't call the higher margin offered by the bucketshops a benefit. It's just another way for newbies to blow their accounts.

[cooter]

Are trades on those brokers executed in the true FX interbank market though? What makes them "non-bucketshops" or differentiates them from the rest?

[notouch]

Orders are sent straight to the bank offering the best price. With IdealPro you can see which bank executed your order: UBS, Deutsche Bank, JP Morgan etc. They also match client orders against each other. Either way unlike a bucket shop they only make their money from the commission so it's in their interest that you win rather than lose.

[walterw]

Would EFX be similar to hotspotfx ?