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Why do YOU trade commodity and index futures rather than forex?
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Why do YOU trade commodity and index futures rather than forex?

  #31 (permalink)
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Futures Experience: Beginner
 
Posts: 1,081 since May 2010
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FXVIP View Post
The great thing about these forums is that dialogue can lead to real understanding/knowledge. The truth is both futures and forex are fine instruments to trade. I trade both, if a setup is happening on the futures side I take the trade, if a setup is happening on a FX pair i'm watching I take the trade. There seems to be a lot of misconceptions regarding fx that are completely false on this board. First of all, many forex brokers are indeed registered, regulated entities with capital requirements and segregated accounts. Secondly, if you are trading at a broker that is straight through processing all orders and offering a conflict free trading environment you will have a fine place to execute your trading strategy. Many brokers are aggregating the price feeds from 10-15 of the largest banks/financial institutions from around the world which in essence is creating the best universal pricing feed. For more examples of why some think FX is better the futures...

Advantages Forex Futures
24-Hour Trading YES No
Minimal or no Commission YES No
Up to 500:1 Leverage YES No
Price Certainty YES No
Guaranteed Limited Risk YES No


Read more: Forex vs. Futures | Why Trade Forex? | Learn Forex Trading

Hello, sorry to spoil your dreams but recently a lot of the so called big 'regulated' forex brokers got reported for making extreme slippage for their customers and cheating on filling their orders in the benefit of themselves:

News Releases

for example GAIN (if you're in forex, you all know GAIN don't you ?)

News Releases

NFA's Business Conduct Committee alleged that Gain engaged in abusive margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers.


24 hours trading ? You are kidding me, In the past I have traded the forex heavily, there is no 24h trading, the trade setups are only there during the market hours. It's the same as futures, you can trade off market hours but it's just not the same. I have absolutely no clue why every forex book is saying you can trade 24 hours the forex market, I guess they want to say: you can loose 24h your money on the forex market.

No Commission, NO COMMISSION ? How do you call the slippage then ? Right, that's even worse, every time you place an order you pay a pip/half pip or more enter or exit, how do you call that ? Right, I call that a fixed commission, you pay anyway. So forget that no commission lie.

Up to 500:1
, new NFA ruling limited the leverage, in fact USA forex brokers have now much less leverage than futures (futures are 200:1)

Price certainty
: I have no clue what you are meaning by this ? Do you mean getting filled at the price you place your order ? I see no difference with the futures market.

Guaranteed limited risk
? You need to explain me this one please, I see no difference with the futures market.

Stay away from the forex market. You can't see volume and there's a reason for it.

If you only have $500 to trade, call up some friends, go out, have a drink, hit on a nice chick, and have some fun. $500 in trading is going to give you NOTHING except losing time.

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  #32 (permalink)
Membership Temporarily Revoked
Boston
 
Futures Experience: Advanced
Platform: Mt4
Favorite Futures: Fx
 
Posts: 16 since Apr 2011
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MetalTrade View Post
Hello, sorry to spoil your dreams but recently a lot of the so called big 'regulated' forex brokers got reported for making extreme slippage for their customers and cheating on filling their orders in the benefit of themselves:

News Releases

for example GAIN (if you're in forex, you all know GAIN don't you ?)

News Releases

NFA's Business Conduct Committee alleged that Gain engaged in abusive margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers.


24 hours trading ? You are kidding me, In the past I have traded the forex heavily, there is no 24h trading, the trade setups are only there during the market hours. It's the same as futures, you can trade off market hours but it's just not the same. I have absolutely no clue why every forex book is saying you can trade 24 hours the forex market, I guess they want to say: you can loose 24h your money on the forex market.

No Commission, NO COMMISSION ? How do you call the slippage then ? Right, that's even worse, every time you place an order you pay a pip/half pip or more enter or exit, how do you call that ? Right, I call that a fixed commission, you pay anyway. So forget that no commission lie.

Up to 500:1
, new NFA ruling limited the leverage, in fact USA forex brokers have now much less leverage than futures (futures are 200:1)

Price certainty
: I have no clue what you are meaning by this ? Do you mean getting filled at the price you place your order ? I see no difference with the futures market.

Guaranteed limited risk
? You need to explain me this one please, I see no difference with the futures market.

Stay away from the forex market. You can't see volume and there's a reason for it.

If you only have $500 to trade, call up some friends, go out, have a drink, hit on a nice chick, and have some fun. $500 in trading is going to give you NOTHING except losing time.

You are correct about the Gain fine but if you read my post I said "straight through processing" regulated/licensed broker and Gain is and has always been a market maker. The USA is 50:1, outside the USA 500:1 is still possible. 24 hours a day may not work for you but there are setups forming all of the time. FX is the largest and most liquid market in the world, are you claiming futures is larger and more liquid then FX? FX does 4 trillion daily, futures does 30 billion with limited liquidity. guaranteed limited risk refers to that in FX if a trade is going against you will be margined out and positions closed immediately, in the futures market your position may be liquidated at a loss bigger than what you had in your account and you will be liable for any resulting deficit in the account.

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  #33 (permalink)
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Futures Experience: Beginner
 
Posts: 1,081 since May 2010
Thanks: 2,092 given, 595 received


Saying that you trade a market because it's big is such a crap argument. Common, honestly.

Why is it big ? Not because it's being traded by traders, it's because people need to exchange money to do business/travel etc.

Like I said, there is nobody here on bigmike that moves the market and that doesn't get his orders filled. So what is the fuss about a liquid market ? Your argument about getting no fills on the futures market is a non-issue. In fact, your arguments to trade forex are not correct.

There is no descent company giving you 500:1, I count dukascopy as a serious player, and guess what they give you ?

Let me give you an argument why you could trade forex: If you're really new and you use no volume in your trading, you could trade micro or mini forex. :-)

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  #34 (permalink)
Blockchain Enthusiast
Perlis, Malaysia
 
Futures Experience: Beginner
Platform: TradingView
Broker/Data: Bitmex
Favorite Futures: Bitcoin
 
Posts: 96 since Aug 2011
Thanks: 114 given, 16 received


FXVIP View Post
You are correct about the Gain fine but if you read my post I said "straight through processing" regulated/licensed broker and Gain is and has always been a market maker. The USA is 50:1, outside the USA 500:1 is still possible. 24 hours a day may not work for you but there are setups forming all of the time. FX is the largest and most liquid market in the world, are you claiming futures is larger and more liquid then FX? FX does 4 trillion daily, futures does 30 billion with limited liquidity. guaranteed limited risk refers to that in FX if a trade is going against you will be margined out and positions closed immediately, in the futures market your position may be liquidated at a loss bigger than what you had in your account and you will be liable for any resulting deficit in the account.

Retail traders do not have the capacity nor resource to tap the 4 trillion liquidity,don't be fooled.

Some brokers probably have only 1 million liquidity total or lesser.

Trade "real" markets,trade futures contract with an exchange...

Sent from my HTC Desire using Tapatalk

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