[dland007]

Originally Posted by throughthemud »

I started off trading stocks and the reason I switched to forex are no commissions and less regulation. I didnt start out with very much money so it was harder for me to get past the commission in order to make a profit so I always trade stocks that were not worth anymore than $30 and then after I day traded for a few days my stock account was locked due to an SEC rule prohibiting day trading with accounts less than $25000. Especially as a beginner I found forex much easier to trade and be profitable in. The leverage can certainly work against you though. Play very cautious and safe and you'll be alright.

It sounds like we're going down the same path. I ran into the same issues with stocks. I did have some decent sucesses (though relatively small), however I quickly learned that just because you sell a stock doesn't mean those funds are immediately available to trade again (big surprise and disappointment to me!). It usually took 3-4 days for everything to clear from a sale before I could reinvest. I hoping for much better 'liquidity' in FX.

[JEHs]

Originally Posted by dland007 »

It sounds like we're going down the same path. I ran into the same issues with stocks. I did have some decent sucesses (though relatively small), however I quickly learned that just because you sell a stock doesn't mean those funds are immediately available to trade again (big surprise and disappointment to me!). It usually took 3-4 days for everything to clear from a sale before I could reinvest. I hoping for much better 'liquidity' in FX.

The biggest problem with stocks is the daytrade rule. If you have less than 25k you will not be able to daytrade. This might be the problem with the 3 to 4 days for money to clear. The money should be there immediately.

JH

[brownsfan019]

Originally Posted by throughthemud »

I started off trading stocks and the reason I switched to forex are no commissions and less regulation. I didnt start out with very much money so it was harder for me to get past the commission in order to make a profit so I always trade stocks that were not worth anymore than $30 and then after I day traded for a few days my stock account was locked due to an SEC rule prohibiting day trading with accounts less than $25000. Especially as a beginner I found forex much easier to trade and be profitable in. The leverage can certainly work against you though. Play very cautious and safe and you'll be alright.

1) If you think your broker is in business for free and doesn't charge 'commissions' I suggest reading up some more on this market. The FX marketers have done a marvelous job of creating this 'no commission' tagline and it seems to work. Maybe there aren't commissions, it's called spreads. lol.

2) It's not often I find someone wanting LESS regulation. Well, there's nothing less regulated as FX that's for sure. It has practically ZERO regulation.... I wish you luck should you have issues w/ your broker and need to call someone.

As for PDT, it does not exist in futures.

So I'm still not seeing ANY advantage of FX over futures. You can trade with $5k (or smaller), no PDT, massive leverage, no uptick rule and regulation all wrapped up into one.

[throughthemud]

Hey dave,
You won't have any liquidity problems with fxcm. I've been with them for almost a year and I only have good things to say about them.

When I first started trading forex I think I made 100% return in 2 days but then I lost almost all of that just because I became overconfident and didnt take my time analyzing the market before trading. This has happened several times but I've learned my lesson and I've been doing better and better. I've found that there is a lot more bad information out there than good information. They best policy when trading is to be patient whether that means waiting for all your indicators to line up or taking time to do adequate analysis. Patience is the biggest key for me at least.

[throughthemud]

Originally Posted by brownsfan019 »

1) If you think your broker is in business for free and doesn't charge 'commissions' I suggest reading up some more on this market. The FX marketers have done a marvelous job of creating this 'no commission' tagline and it seems to work. Maybe there aren't commissions, it's called spreads. lol.

2) It's not often I find someone wanting LESS regulation. Well, there's nothing less regulated as FX that's for sure. It has practically ZERO regulation.... I wish you luck should you have issues w/ your broker and need to call someone.

As for PDT, it does not exist in futures.

So I'm still not seeing ANY advantage of FX over futures. You can trade with $5k (or smaller), no PDT, massive leverage, no uptick rule and regulation all wrapped up into one.

Yes forex has spreads but so do stocks but stocks also have commissions and that is my whole point.

If you have a problem with your forex broker you can still bring it up with NFA. You can go to their website and check on all the cases they've ruled on. As long as you get a good broker there is no problem. I would probably be safer in futures but I haven't had any problems trading forex so I'm happy.

[brownsfan019]

Originally Posted by throughthemud »

Yes forex has spreads but so do stocks but stocks also have commissions and that is my whole point.

If you have a problem with your forex broker you can still bring it up with NFA. You can go to their website and check on all the cases they've ruled on. As long as you get a good broker there is no problem. I would probably be safer in futures but I haven't had any problems trading forex so I'm happy.

Not sure what stocks you are referring to, but spreads are tiny (if any) on most issues. And any decent liquid future will have the bid/ask.

Question - how many withdrawals have you done and how often do you do them? I ask b/c I had a trading friend awhile back put together a decent little scalper type thing and the broker 'allowed' him to run it briefly before shutting it down. Why? B/c he was winning and taking their money.

If you're losing, the FX brokers can be very kind to you. If you're a winning trader though, they can literally just turn your account off and say go elsewhere.

As you said, it is safer in futures where you get the same bang for your buck as you do in FX but you also get regulations & brokers that only make money on commissions, not by trading against you. To me, it doesn't add up - you're going to send your $ to some firm, they hold it, they get to produce the quotes, they see your trades, know where your stops are, they can move prices around and they can easily be on the other side of your trade. Sounds like a perfect setup on their side.

[throughthemud]

not all forex brokers make money by trading against you but on smaller accounts most of them do. if you want to know whether your forex broker is screwing you look at quotes from different brokers or free sources all over the internet. my broker had a bad tick once and they gave me the money it cost me plus extra since it was there mistake. I take money out about every 2 weeks. They haven't ever said anything negative to me about it. I'm sure there are lots of horrible fx brokers out there but they're not all bad. I started out using GFT and they are a shitty brokerage. If you trade with them you'll probably have a bad experience.

The spread is small on everything including stocks, forex and futures.

Hi !
I've just visited this forum. Happy to get acquainted with you. Thanks.
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