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And i have never been more profitable!
Once i started trading i thought the more information i could see the better a trader i would become.
There were some other setups in the time in between then and now and it took some …
Can you help answer these questions from other members on NexusFi?
Hello and thanks for your answer. My problem is not paying the normal spread since this is as good or a bit better than trading currency futures, my problem is the spread divergence from the normal "during and after news", and im currently trying to evaluate if futures are better at that part since big spreads on SPOT may translate to "thin" market and harder fills on futures.
If i remember correctly the link i posted here also show a little graphic with the past spread.
Ideal to check and compare after a news event took place since you can see how much the spread widened and how long it lasted.
Not really sure where to find such information for futures.
Ps; For everyone reading this: A like/thanks to my original post in the link below would be very much appreciated since i can win a price with it!
And i have never been more profitable!
Once i started trading i thought the more information i could see the better a trader i would become.
There were some other setups in the time in between then and now and it took some …
Thanks @RDK91, that's a fantastic resource... now if I could only find a US forex broker that was worth a shit
From my (limited) experience, futures is nothing like forex where, if your broker is a market maker, they know where the stops are and can open the spread as far as they want to grab them. Liquidity is readily available and they rarely widen even during news events (at least in EURUSD.)
I switched to forex so i could trade live for low risk amounts.I couldnt afford to trade cl.For me , Forex enables me to trade with real $and stay in a trade plan without the anxiety of big$ getting flushed.As my plan shows consistency, i just raise the amount per trade.....Now, on to the spreads.You can have a time and sales up that will show the current spread.EURUSD has the tightest spread...about 1.2 and is plenty liquid.Going forward, as i progress, i will raise the amount i trade incrementally.Forex gives me the capability to do this, with low risk,while dialing in my method, and my mental approach...............However.......when i get to the point that i am comfortable with this as a whole, and there is a foundation in place, i want to get back to trading the open with YM,NQ, and dare i say it....CL...And by the way, you can get some nasty slippage on the minis too(not es!).One more thing....I have no problem with the charts on forex.They work and behave like anything else...Sure, GBPUSD can get bumrushed because of Brexit, but weve all sen CL get pushed around as well.I think its important to be aware of spreads in general, but there comes a point when its out of our control.So choose what instrument youre comfortable with, and accept the spread, and focus on the process
Hope this helps, Bob
IMHO, risk control is the most important factor here.As an aspiring trader, my job is to stay alive, while dialing in a method and executing without hesitation.This requires zoning in on a few setups that i recognize, and always participating when these setups exist.Aslo, a big work in progress, is determing a realistic target for each setup, and being patient to let the trade play out.Forex gives me the chance to forget about the $, and focus on the process and me.
This is why I would like to find a decent forex broker in the US... haven't had much luck outside of Forex.com and Oanda, both of which are market makers as far as I know. Who are you using Bob? Have you had any trouble with the spread opening up and grabbing your trades?
Great point bro....those 2 are the best as far as i know.....They compute commissions differently, but in the end its probably close.The fact is, the best deal for forex is not in the usa....by a longshot