Futures vs Forex - Commodities Futures Trading | futures io social day trading
futures io futures trading


Futures vs Forex
Updated: Views / Replies:740 / 9
Created: by Craigh Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Futures vs Forex

  #1 (permalink)
Trading Apprentice
New York
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Stocks
 
Posts: 3 since Oct 2011
Thanks: 4 given, 1 received

Futures vs Forex

I need a little help. I've never traded Forex before. I received an email from a broker that will match my deposit 100% and there are no commissions or exchange fees so I am tempted. I currently trade oil, gold and natural gas. I have a method I've been very successful with that scalps for 2-3 ticks. Is that possible in Forex? I've heard that you are betting against your broker so you may get awful, wide spreads. Any advice is appreciated.

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Wiltshire, United Kingdom
 
Futures Experience: Beginner
Platform: daytradr
Broker/Data: Working on a TST combine
Favorite Futures: ES
 
matthew28's Avatar
 
Posts: 376 since Sep 2013
Thanks: 342 given, 429 received



Craigh View Post
I currently trade oil, gold and natural gas. I have a method I've been very successful with.....

On sim I presume otherwise if you were already successful why move to spot Forex?
The spot forex broker will be offering 'free money' because they know they will almost never have to pay out because the people opening the account will lose their own money. There will probably be a minimum number of trades you can make before you are allowed to withdraw 'their money'.
There are no exchange fees because forex doesn't have an exchange, your broker controls the data you trade off. No commissions because they can set the spreads as wide as they like. Unlike a futures platform their own platform will not let you place limit orders on the favourable side of the spread, not good for scalpers. There may also be a platform limit on how close an exit order can be set to the current market. IMO trying to scalp spot forex you may as well just throw the money away.

Reply With Quote
The following 5 users say Thank You to matthew28 for this post:
 
  #4 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: various
Favorite Futures: futures
 
Posts: 2,368 since Jul 2012
Thanks: 1,130 given, 4,340 received


Craigh View Post
I have a method I've been very successful with...

Why change to something else, if you are "very successful?" This seems like a no-brainer to me...

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following 5 users say Thank You to kevinkdog for this post:
 
  #5 (permalink)
Market Wizard
Reading UK
 
Futures Experience: None
Platform: Sierra
Broker/Data: Lmax
Favorite Futures: My 3 boys
 
Grantx's Avatar
 
Posts: 831 since Oct 2016
Thanks: 766 given, 1,032 received
Forum Reputation: Legendary


Craigh View Post
I need a little help. I've never traded Forex before. I received an email from a broker that will match my deposit 100% and there are no commissions or exchange fees so I am tempted. I currently trade oil, gold and natural gas. I have a method I've been very successful with that scalps for 2-3 ticks. Is that possible in Forex? I've heard that you are betting against your broker so you may get awful, wide spreads. Any advice is appreciated.

1. That broker will, more than likely, be taking the opposite side of your trade and as such your execution never reaches the open market. There are no exchange fees in forex so its a meaningless promise anyway.
2. They are playing the odds. With such a high failure rate amongst new traders the likelihood is very highly in their favour that your deposit will be going straight into their greasy paws. In the case of most new traders its easy money for them.
3. If you manage to be one of the few that consistently wins , then you are going to see other issues creeping in such as slippage, bad fills, disconnections, platform delays, weird spreads, problems withdrawing money etc...your broker wants you to go be profitable somewhere else.
4. Scalping gold on forex? Forget it right now. Trust me on this. THe spread can go from 40 - 120 in a split second. If youre trying to scalp 150 pips at $10 per pip, and you get a bad spread you could have paid $1200 just to be in that trade. Best case scenario is your spread is 40 pips - then you are paying $400 to be in that trade (at $10 per pip). Ok so gold can shred 200 pips quicker than you can blink so either way you are going to get rich or poor very fast.
5. On gold, if youre holding for bigger targets like say 1000 pips (easy for gold) then I hope you have deep pockets because it can take a few goes to catch that move. Just the spread alone on each of those failed attempts is what hammers your account and cause you to sweat bullets.
6. Do some research and find out where the headquarters are. Cyprus? Forget them. If its someone like Oanda then maybe..
7. If they are a market maker (very likely) and you are a consistent winner then dont expect to be with them for long. They will close your account. Their business is to make money, not have profitable traders on their system chipping away at their profits.
8. If you are consistently profitable as a scalper then the futures market is the best place to scalp. Run a comparison on the amount of trades you do per month and see what the difference is in cost to trade. Its a no brainer.
9. They do make a commission on every trade you do. Its hidden in the spread.

I traded on the forex market and luckily managed to make money. Im on futures now primarily because of the cost to trade, regulated market on a central exchange, volume profiling and orderflow. All of these are non existent in spot.

Reply With Quote
The following 6 users say Thank You to Grantx for this post:
 
  #6 (permalink)
Trading Apprentice
New York
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: Stocks
 
Posts: 3 since Oct 2011
Thanks: 4 given, 1 received

Awesome. Thanks guys. I'll stay away.

Reply With Quote
The following user says Thank You to Craigh for this post:
 
  #7 (permalink)
Trading Apprentice
Beverly Hills, CA
 
Futures Experience: Master
Platform: NinjaTrader, TradeStation
Favorite Futures: Futures Trading
 
Posts: 9 since May 2017
Thanks: 0 given, 7 received

One caveat, you need to have a complimentary risk management system you diligently employ as well.

Reply With Quote
 
  #8 (permalink)
Trading Apprentice
CONSTANTINE/ALGERIA (DZ)
 
Futures Experience: Advanced
Platform: ninjaTRADER ,
Broker/Data: RITHMIC,
Favorite Futures: CL, FGBL,FXSE,FDAX,YM
 
k7ler's Avatar
 
Posts: 34 since Aug 2015
Thanks: 114 given, 6 received

forex retail was scam market

Reply With Quote
 
  #9 (permalink)
Elite Member
Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader & Jigsaw
Broker/Data: Rithmic
Favorite Futures: ZB UB
 
Posts: 141 since Dec 2016
Thanks: 84 given, 61 received

Is it just me or does anyone else hate the spot forex market? I feel like a rant but TLDR: forex is a ridiculous market.


Sent from my iPhone using futures.io

Reply With Quote
 
  #10 (permalink)
Elite Member
San Antonio Texas
 
Futures Experience: Beginner
Platform: Ninjatrader Thinkorswim
Favorite Futures: ES, CL, GC, and ZS
 
Posts: 55 since Nov 2016
Thanks: 31 given, 23 received


The is one great benefit the forex has that futures does not. You can control your degree of risk by dialing down to micro and mini lots and still give yourself a reasonable stop loss. Futures on the other hand 1 contract can't get any smaller so you have to shorten you stops and you may find you're getting stopped out to fast. You can trade the "mini" contracts but I found they tend to be illiquid. I trade Forex and do just fine, but as many have said if you have a system the you are consistently profitable with were you can tolerate the risk why change it.

Sent using the futures.io mobile app

Reply With Quote
The following user says Thank You to Futuresnoob for this post:

Reply



futures io > > > > Futures vs Forex

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

Dec 7

Linda Bradford Raschke: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Forex and Futures Jake G Reviews of Brokers and Data Feeds 15 May 22nd, 2015 06:22 PM
What's better Futures or Forex and why? Magiklair Traders Hideout 4 June 13th, 2014 05:55 PM
Forex or Futures Trading traderandreas Traders Hideout 13 October 10th, 2012 10:10 AM
Forex -----> Futures torroray Traders Hideout 3 October 4th, 2012 01:16 PM
Forex vs Futures GaryD Traders Hideout 7 December 8th, 2011 12:14 AM


All times are GMT -4. The time now is 09:46 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-11-23 in 0.14 seconds with 19 queries on phoenix via your IP 54.198.221.13