Bob Volman - Price Action Scalping | Currency Futures - futures trading strategies, market news, trading charts and platforms

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Bob Volman - Price Action Scalping

  #83 (permalink)

London England
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Forex
Posts: 13 since Oct 2011
Thanks: 6 given, 4 received

Spreads and FPAS trading

Hi Guys:

I noticed a couple of recent articles here about spreads, and it apears to me that tight spread may be critical to trading these methods. If we're aiming for 10 pips (and sometimes bailing earlier), can we really afford to use a dealer or an instrument that's going to cost us 3 to 5 pips round trip, plus a pip for the signal? I guess that limits us to Spot, a very few pairs to trade, and a very few brokers.

Interactive Broker's spread on EURUSD is commonly 0.5 pip plus 0.2 pip commission, so a round trip with a decent fill would cost 1.4 pips. As I write (12.30 GMT), Dukascopy is offering 0.6 pip spread on EURUSD plus 0.18 pip commission on $25-$250K accounts - round trip 1.56 pips. Anyone know what other brokers match or better these spreads?

Just a thought about adaptive position sizing as recommended in FPAS - if you use NinjaTrader, there's an expensive ($995) third party plug-in available called Trade Manager that replaces NinjaTrader's Chart Trader, and among a lot of other stuff, it automatically sets your trade size based on account size, preferred max % risk you set, and the stop loss size you set for the current trade. I'm thinking of getting this - has anyone tried it?


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