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Out gov just forbid trading Forex, all the guys open accounts in foreign firms such as FXCM, FOREX.COM, Oanda, IG...
Buy the way, the volume data of Lmax in MC, is it only tick account? I wonder what's the "traded volume" in MC, for me, it's important to use Renko, while in renko, MC just allow me to use traded volume, in Oanda, it's all zero.
So please tell me if you turn to renko, what's the Volume look like.
Thanks.
Can you help answer these questions from other members on NexusFi?
Why not use the CME's Futures FX? One feed, good liquidity, and tight spreads.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Can I use 6A, 6J, 6B, 6E 's charts to trade the corresponding pairs?
Use 6A to trade AUS/USD, is this a solid way? I am not used to MT4 and find them hard to use, and the indicator I am using dose not work well on MT4.
LMAX is similar to exchange trading, so you will be able to see volume traded. Keep in mind there is no true global volume data available for spot fx. You should have no issue constructing volume based renko charts. With spot fx, some use tick's as a proxy for volume, you should be able to do this with MC.
Otherwise, you could consider trading FX futures. With futures you trade on exchanges, the playing field is level, one source of data, way better software available & integration with more brokers.
Yes, you can do that. Although you would have to be "creative".
If you want to be long 6A against 6B, you just long the 6A and short the 6B.
Since both are USD pairs, the USD get "canceled" and you are left with a pair.
The downside is that you need to exist each pair on its own, but I believe it is a better way than be ing susceptible to higher spreads on cross currencies in cash.
Thank you,
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
Really depends on your intended trading stye. I would recommend starting with the CME Education site so you can make your own informed decision. For example, a single 6E contract has a notional value of EUR125,000 & half tick value of $6.25 (per 0.00005 price increment). Opening a position requires an initial margin around $500/contract if trading intraday, but $2,310/contract if trading overnight. Based on this you could come to a conclusion for what amount of capital you need. Do a search for futures position size calculator
Eg. Under your trading strategy, you might determine you want to trade 1 single 6E contract, the maximum adverse price movement you are willing to hold (aka stop loss) is 20 ticks & you never want to risk more than 2% of your capital on any one trade. Therefore you would require capital of $12,500 or greater (20 ticks x $12.50/full tick) / 2%.
Thanks very much. I think I would trade the Forex and CFDs for a while. I also noticed NinjaTrader supports FXCM. And I am going to open an account at Tradestation to watch the Forex. For I am used to these kind of software.
Hi OrderlyFlows,
I got the LMAX for MC, the data speed is much more faster than that with Oanda.
Few things I noticed:
1. it's not traded 24 hours.
2. so sometimes there's a gap.
3. in Far East's morning, the USD/JPY, AUD/USD are not heavily traded in Lmax.
And the most important thing I am now wondering is:
Since Lmax works like an Exchange, so the price of the instruments traded in LMAX is ONLY driven by the trades that took place within LMAX? On hourly, 4 hour charts, the Price changes are almost the same with those quotes from FXCM, Oanda? Like the AUD/USD example, price will gap to catch up with the worldwide Forex market movement. So I can trade the Forex at LMAX just like future contract in CME? And most importantly, I can rely on the traded volume at LMAX more than those tick volumes at FXCM/OANDA?
