New to Forex

Futures Guy · Nov 28, 2014

I'm thinking of making the move from futures to forex and was wondering about a couple of things:

1- I've heard that in forex you have really wide spreads because you are betting against your broker. Is that true?

2- if so, are there better spreads with some brokers? Are some notorious for this? Are some known for being better than others?

3-again if that's true, do some brokers penalize you with bad spreads if you are a successful trader?

4-do the currency pairs move pretty much the same as the corresponding futures contract?

Thanks

verial · Nov 28, 2014

Don't do it!

I know I will get a lot of heat because this is the Forex forum, but my advice to you is to stick to futures:

1. Futures isn't a zero-sum game. Forex is. Just like at the casino, if you're the one walking up to the table with the cash in your pocket, the odds aren't on your side.

2. Futures serve an economic purpose. By playing futures, you're actually adding value to this world. In essence, you're getting a premium to take on the risk that commodity producers don't want. In contrast, Forex produces nothing of value to the world.

3. Amateur traders can make good money in futures with basic education. Amateur traders typically lose good money in Forex, despite all of the free educational resources out there.

Do yourself and the world a favor and stick to futures.

L_Arciprete · Nov 28, 2014

verial said:
Don't do it!

I know I will get a lot of heat because this is the Forex forum, but my advice to you is to stick to futures:

1. Futures isn't a zero-sum game. Forex is. Just like at the casino, if you're the one walking up to the table with the cash in your pocket, the odds aren't on your side.

2. Futures serve an economic purpose. By playing futures, you're actually adding value to this world. In essence, you're getting a premium to take on the risk that commodity producers don't want. In contrast, Forex produces nothing of value to the world.

3. Amateur traders can make good money in futures with basic education. Amateur traders typically lose good money in Forex, despite all of the free educational resources out there.

Do yourself and the world a favor and stick to futures.

As a Forex trader, I have to agree with this

donlogan · Nov 28, 2014

Thanks but I'm still hoping someone will answer my questions

Sharky · Nov 28, 2014

donlogan said:
Thanks but I'm still hoping someone will answer my questions

You do realise we don't allow multiple accounts on T2W? So you'd better make up your mind whether you're Futures Guy or donlogan, otherwise you'll end up having all your accounts banned including Winning Man.

hatemypips · Dec 8, 2014

The risk in the investment world is the same ....

Trading stocks is not safer than forex trading ..... as long as its leverage the same
Forex trading will not be high risk if you use a leverage of 1: 1, as well as stock. Example, just buy the USD .... then its value will not be exhausted (no = 0) to any time during the state of USA is still there .... so it's impossible MC. Which makes high-risk forex is leverage.

futures only one way opportunity .... should know the circumstances relevant companies, etc.

fxmade2trade · Dec 11, 2014

With the questions you have listed tells me you need to educate yourself a little more before you dip into the FX market, it is not for everyone.
1. no it has to do with volume
2.yes Oanda has some of the tightest spreads stay away from FXCM
3.YES some will open the week an hr or so later than the market opens, closing the gap instantly!
4.YES for the most part.
I hope this helps and trade on if you need help, email me directly

Jason Rogers · Dec 12, 2014

fxmade2trade said:
of the tightest spreads stay away from FXCM

FXCM recently introduced new pricing with raw FX spreads plus commissions*. That means the total transactions costs are very competitive as you can see from this live spreads table: http://www.myfxbook.com/forex-broker-spreads

* Regulations prohibit us from charging of a separate commission on spread betting accounts. So instead, for spread betting accounts only, the commission is replaced with an equivalent markup to the spread. Total transaction costs remain the same.

fxmade2trade · Dec 12, 2014

New to Forex

Futures Guy

Newbie

verial

Member

L_Arciprete

Newbie

donlogan

Newbie

Sharky

hatemypips

Established member

fxmade2trade

Active member

Jason Rogers

Senior member

fxmade2trade

Active member

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