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Thanks a lot for this info.
I will appreciate if you or any other MINI DAX trader let me know the commission you pay per 1 mini dax contract RT and the same quetion for full DAX contract?
and how much it cost the monthly Eurex Data market?
Best Regards
After some months trading the NQ in the US morning session, I've switched back to the EU morning - it just doesn't work for family life trading in the late afternoon.
I trade 2 lots in a very simple way off a UniRenko chart (the TSJ thread was instrumental in my adopting this approach).
I started with FDAX, but found it unsuitable for the tight stops I like to use : the spread widens too often, too much.. and it's a big contract. So I switched to FDXM, which is steadily increasing volume and I think would be very suitable for someone trading with a bit more "swing", ie. wider stops and targets.
However, in agreement with @sam028 in post # 84, I have this week started to trade the GER30 CFD with FXCM (not available to US traders) : not only lower margin, but tighter spread, given that the spread includes the commission (typical spread is 1 pt, whereas with FDXM it's 1 - 2 + comms). I have also set my chart up for a min movement of 0.5, so it charts just like the FDAX contract.
The commission issue is important, especially as I am only targeting 20 net ticks/pips per day : if I have one of those unpleasant days where I'm down 30 ticks in the first hour, I usually buckle up for a long grind to get back to breakeven on the day. I usually succeed, but it can take 20 trades (I typically make 3-5 trades / day & am done in the first hour). If a trade is costing a tick or thereabouts, that's 40 ticks just to cover the comms for the day. Not the case with GER30 (I think this is HUGELY significant... what am I missing !?).
I will report back in a month or so : I'm still trading the CFD very small (however, I have traded it 20x larger in the past, without fill issues, ie. EUR 10/lot). My chart for this morning below (I stopped early as I noticed a discrepancy between my FXCM and Ninja P&L, currently waiting for both to get back to me. It might be partly to do with my setting 0.5 as my min move for charting GER30 in Instrument Properties...but then again, it might not).
Is it time to switch to NT8 (as long as UniRenko are available - and I see that they are, my charts are VERY simple)... meaning does NT8 interface better with FXCM,as NT7 has always been glitchy in this regard !?????
Can you really create a CFD position where one point move in index means 25 euros so that you only need to have $2500 for margin and pay $2.47 commissions/round trip (=0.09 points, AMP futures) as you can do with the FDAX futures where the smallest spread can be 0.5 points ?
CFD makers are playing with that 1 point spread in both ends while opening and closing the trade. This is possible because the spread is not 100% transpanent to futures markets where they offset your positions. Their system is what creates the spread for you and it is very easy to play with it.
You can see the difference only by executing the trades in parallel in both systems. You will see the difference !
If I may say so, it IS relevant, because if you want to trade - & especially day trade - the DAX, there is a choice to be made between instruments, of which the GER30 CFD is one, FDXM another... and presently there are good reasons to trade the CFD rather than the mini-futures.
... & not only that, but at the time I posted, it was the only post on your busy thread so far this year
Having a bad day ?
Edit : and for having the temerity to make a logical comparison of the subject of this thread, FDXM, with an alternative, GER30, @choke35 has well & truly choked - in a somewhat aggressive way, not at all in the spirit of futures.io - and banned me from this thread. My first ever forum banning - you really were having a bad day, as I see you do not usually behave this way.
I agree that both CFDs and cash forex, in the absence of a regulated exchange, pose additional dangers.
I have put up 4 charts side by side : FDAX, FDXM, GER30 via FXCM (who I use as they are still NinjaTrader's partner, at least in Europe) & GER30 of DukasCopy.
The first 3 track very closely and I feel being able to chart GER30 at 0.5 min move is one of the advantages it has over the mini futures. The DukasCopy CFD was all over the place (but maybe because I was tracking via demo, as I do not have an account with them).
CFD & cash fx trading has changed enormously in the last decade, mostly for the better.
The thing is to EXECUTE parallel. Real orders throught the systems. Then you can see the difference in practice. Unfornately by just looking the charts is not the same thing.