Coesfx, Currenex, HotspotFXI, MBTrading, and Interactive Brokers are the only ECN style brokers that I can find. There are a few more that have white label agreements with these guys, but they just add on more commissions. Interbankfx is a retail ...

Difference between ECN and retail broker?

I trade the news regularly with Oanda and I have never received a requote. Spreads double or triple during releases or extremely volatile periods, but you can always trade at the quoted prices. Their order management system is kinda shabby, but ...

Oanda Spread Problem

A retail forex company acts as the market maker for all your trades. They shade prices, widen spreads arbitrarily, and trade against you. Their basically modern day bucket shops. The advantages retail brokers provide are that you can open an account ...

Difference between ECN and retail broker?

Well at least you know their not out to completely screw you.

Negative balance on real account

That sucks man. I noticed when trading it today that it only traded at like 5 prices on its way down. I would up with an extra 10 cents per oz when it blew through my TP. You should have swapped positions, I pulled 200% return on balance in 5 ...

Negative balance on real account

I'll give you a couple examples. Price is moving towards a resistance point and trader 1 is in a trade with the expectation that price will move to and bounce off of it. Price moves a few pips beyond the resistance point and the position is ...

I Had No Idea I Took So Much For Granted

I meant on a deeper level. Why is the individual short in your example? What information is he using to determine what the market will do? For someone to put on a trade they have somehow established an expectation that prices will move in a certain ...

I Had No Idea I Took So Much For Granted

Hey SMJones, in an effort to expand the topic; who specifically do you extract profit from when you win a trade and why? Who takes your money when you lose and why?

I Had No Idea I Took So Much For Granted

Automation isn't the panacea everyone makes it out to be. It no doubt has a place for certain strategies and individuals, but it is not universal. If you are doing something and it is working, be very careful about changing the way you look at the ...

I Had No Idea I Took So Much For Granted

CNBC Bloomberg too, but there kinda pokey...

Non Farm Payroll

The support and resistance is based on price points only. I draw horizontal lines from the last several swing highs and lows on a 3 hour chart. For example, Looking at the current chart (usd/jpy) I would put lines at 118.49 (mar 24 high) 116.25 (mar ...

How do you trade news?

I use market orders on Oanda and have been happy with it. Even during NFP and FOMC decisions I get very little slippage. Some time ago I had a demo account with interbankFX and trying to trade a news announcement i just kept getting requotes. So ...

How do you trade news?

What makes the forex market so much better then other markets is: a) liquidity b) 24 hour availability c) inherent inefficiency of an off exchange market d) massive leverage available The ONLY place you will find the words "easy" or "low risk" ...

Forex Trading for a living... anyone?

Even if you trade on the OTC interbank you wouldn't have your funds guaranteed. Granted you would have FDIC insurance if your sponsoring bank folded, but the party on the other end of your trade could blow up at any point and you could lose money. ...

Forex not Regulated!

long usd/jpy at 14:21 for 117.385 closed at 14:41 for 117.889 Felt pretty good about it going to 118, but decided not to chance it. 50.4 pips.. not bad for 20 minutes work.

How do you trade news?

It may seem like a simple question, but the answer is probably far more complicated then would be expected. I'll try and answer the economic implications of interest rates on currency valuation after the announcement (if I start now I'll miss ...

Central Banks Watch

It's definitly something I have noticed on occasion. My personal opinion is that it really is just the suckers getting their few seconds of fame. Leading up to all important news announcements volume and volatility drops considerably. You really ...

How do you trade news?

Martin Pring on Price Patterns is one of the most usefull books I have. Reminisences of a Stock Operator should be required reading, but not right away. After reading all of the above, you should take a look at it.

My book list...suggestions please.

Today is a HUGE day! I don't know what there going to do, but if they maintain the status quo, we get a decent dollar rally. If they hold rates today we get a huge selloff. The highest probability is a rate hike with a statement change, but I have ...

Central Banks Watch

I have received several Pm’s asking about how I trade the news, so I’ll take a stab at trying to explain it. First off I want to say that while this works for me, it may not work for you for reasons that will be self evident. To understand how I ...

How do you trade news?