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Newbie Question about Forex
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Newbie Question about Forex

  #1 (permalink)
Just starting out...
South Shore, KY
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
jra_020883's Avatar
 
Posts: 10 since Dec 2009
Thanks: 1 given, 0 received

Newbie Question about Forex

Dear Traders,

I'm a Newbie and need some help understanding this futures vs forex question that keeps coming up. I'm reading on these forex sites about how trading forex is better because there's no commission, but the way I understand Spread is that a spread of 3 pips is like $30, which is a lot more than the average commission rate. If every trade on a forex market cost the trader $30 or more, why would anyone want to trade forex? Thanks.

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  #2 (permalink)
Elite Member
Dallas,TX
 
Futures Experience: Intermediate
Platform: NinjaTrader, OpenQuant
Broker/Data: Zaner/Zen Fire
Favorite Futures: ES,6E,6B,GC,CL
 
Posts: 590 since Nov 2009
Thanks: 176 given, 116 received

jra - you may get quick answers from forex forums, One of the best ones are Forex Factory, Forex-TSD

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  #3 (permalink)
Just starting out...
South Shore, KY
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
jra_020883's Avatar
 
Posts: 10 since Dec 2009
Thanks: 1 given, 0 received


Thanks, I know this is more of a futures forum, but I've been trying to find an answer to that question for a while now. I've been researching Forex a lot, am very interested in it, but I've never really found a satisfactory answer to the question of why a trader would pay the crazy spread that forex brokers want.

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  #4 (permalink)
Elite Member
Neubrandenburg, Germany
 
Futures Experience: Advanced
Platform: R
Favorite Futures: Stocks
 
wh's Avatar
 
Posts: 538 since Jun 2009
Thanks: 297 given, 480 received

the key is the
Diversification in Forex trading with a cross pair like EurUsd / GbpUsd.


Perhaps this link help you: Understanding the risks in Forex trading | GoLearnForex

Causality is the relationship between an event (the cause) and a second event (the effect), where the second event is a consequence of the first.
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  #5 (permalink)
Elite Member
Studio City CA
 
Futures Experience: Beginner
Platform: ninjatrader
 
Pava's Avatar
 
Posts: 46 since Jan 2010
Thanks: 0 given, 8 received

Hi

I am new to ninjatrader...is there a way to get rid of all the non-useful indicators that come with the program?...I like to work with few indicators in my indicator window...

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  #6 (permalink)
Trading Apprentice
Brentwood, Tennessee
 
Futures Experience: Master
Platform: MetaTrader
Favorite Futures: forex
 
Posts: 39 since Mar 2010
Thanks: 172 given, 25 received


jra_020883 View Post
Dear Traders,

I'm a Newbie and need some help understanding this futures vs forex question that keeps coming up. I'm reading on these forex sites about how trading forex is better because there's no commission, but the way I understand Spread is that a spread of 3 pips is like $30, which is a lot more than the average commission rate. If every trade on a forex market cost the trader $30 or more, why would anyone want to trade forex? Thanks.

The spread varies depending on the broker. For example, the spread of 3 pips if you were using a standard lot does come close to $30 but using standard lots means that if you make 10 pips, you make $100.

If you were trading mini lots, your 3 pip spread equals $3 and if you were trading micro lots, your 3 pips spread equals $0.30.

You can do research for spread definitions and trust me, they should not worry you.

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