Any comments on the two platforms would be appreciated.
I used to trade the nasdaq100 futures on globex from 1999 thru 2001 and paid $1000/month to lease the equipment and $3.50 round trip in commission but quit as the overheads were killing me when the market stopped being so volatile.
I like to trade at least 50 times a day and if I use the eur/jpy and trade thru Oanda and pay at least $23 spread, then I am giving away$1150/day times 20 days per month times 12 months per year, a total of $276,000.
If I trade the eur/usd then at $9 spread it comes to $108,000.
This a hefty overhead expense which is hard to overcome.
Trading long term ( not my cup of tea ), these overheads are reduced dramatically but I simply cannot predict where the market will be heading in the next one minute let alone over hours and days into the future.
Can anyone suggest how these overheads can be reduced trading spot forex thru a broker and would trading with the CME be any better. Does the CME offer direct trading thru their clearing house or do I still need to go thru a broker.
I understand that brokers have to make a living and am supportive of them, but at the same time these enormous overheads are nigh impossible to overcome so as to become profitable
regards
emtee
I used to trade the nasdaq100 futures on globex from 1999 thru 2001 and paid $1000/month to lease the equipment and $3.50 round trip in commission but quit as the overheads were killing me when the market stopped being so volatile.
I like to trade at least 50 times a day and if I use the eur/jpy and trade thru Oanda and pay at least $23 spread, then I am giving away$1150/day times 20 days per month times 12 months per year, a total of $276,000.
If I trade the eur/usd then at $9 spread it comes to $108,000.
This a hefty overhead expense which is hard to overcome.
Trading long term ( not my cup of tea ), these overheads are reduced dramatically but I simply cannot predict where the market will be heading in the next one minute let alone over hours and days into the future.
Can anyone suggest how these overheads can be reduced trading spot forex thru a broker and would trading with the CME be any better. Does the CME offer direct trading thru their clearing house or do I still need to go thru a broker.
I understand that brokers have to make a living and am supportive of them, but at the same time these enormous overheads are nigh impossible to overcome so as to become profitable
regards
emtee