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That earlier post suggesting a look at 6E over DX is interesting. Granted its after hours but there is a lot better volume and tighter spreads on 6E. That (plus better commisions) will keep your transaction costs down.
Can you help answer these questions from other members on NexusFi?
Liquidity of DX is not impressive, it is good to watch as an index, but I definitely would opt to trade the Euro. Some FX dealers offer tight spreads / no commissions, so you should be better of than with DX.
Here are pics of the entire trading day. Clearly, there are alot of trades when the strategy is set to "always in" mode.
I've experimented with indicators to reduce the chop trades, but that comes at the expense of missing the very sharp entries on runners. The main thesis of the strategy is to suck up small losses to reap bigger wins and be in position to hop on the big winners when they materialize.
I think a way, for a such high volume, could be to use X-Trader, but u have to develop your system thru their API, that uses C++ or C#, try to ask at Global Futures, I think they have the lowest fees for X-Trader.
What I meant to say was I'm not smart enough to compete with the cartel that controls the FOREX markets. Plus, the lack of regulation turns me off.
Got some good news this morning from my broker. They will lower my commission on DX to $3.72/RT, a significant saving all of which goes straight to the bottom line.
Today I witnessed the beast known as slippage. In some cases, it was 2 ticks on both sides of the trade ($20 total) which is unacceptable given the profit margin I'm working with. I'm not sure if the FOMC overhang played a part. Perhaps tomorrow will be different?
A possible fix: turn off "always in" and trade during CME Equity RTH. If that fails, I'll abandon this instrument for one that is also volatile but has greater liquidity.
