1000 pip spike

NexusFi · 2023-03-27T20:08:33-04:00

What pair? If you're trading something relatively mainstream like pound, euro, yen, I highly recommend futures. They have micro contracts (M6E for EUR/USD for example) with pretty good liquidity for smaller accounts. Spread is 1 pip. The bigger contract (6E for EUR/USD) has 0.5 pip spread. The biggest risk with forex, cryptos, and the rest of the unregulated wild west of the financial world is exactly this type of nonsense. You take on counterparty risk. With futures, there is no counterparty risk. You see …

Discussion in Currencies

Updated March 28, 2023

1000 pip spike

March 27th, 2023, 08:08 PM

#21 (permalink)

faithdefender

Salem VA USA

Elite Member

Experience: Intermediate

Platform: Oanda, NT8, TradingView

Broker: Oanda, TorS

Trading: Stocks, Currency Futures

Posts: 175 since Jan 2019

Thanks Given: 132

Thanks Received: 122

bobwest

Alternatively, don't trade spot forex. Trade currency futures. Then you won't be just trading against your broker, and no broker will have a different price.

Just a suggestion.

Bob.

@Bob, I needed to hear that five years ago after OTA took all our savings-sold us on Forex and lifetime Forex 'ProPicks' (now called 'OTAPicks' after FTC got involved) selling us dreck.
But as far as I am concerned, you can remind me daily and I wont complain!!
We are working toward the goal of never trading Forex again.