Account Size & how to get there?

[1only]

Who are you trading with?

Forex.com

 

[brettus]

Forex.com

You could trade with someone better than that. I'm trading eurusd at the moment 15$/mio commissions and the spreads are as low as zero and never above 1 pip other than the open. gbpusd is usually less than 1 pip too. Execution is slightly different too. With Currenex you'll be hitting the banks directly, who don't requote.

 

[Mata Nui]

I trade EURUSD with 2 pip spread and I risk 2% per trade with 15 pips Stop. For $300K account, I trade 40 lots, which is under the maximum of most Forex brokers and all my entries are market orders. However, my order execution is getting harder and harder starting from about 25 lots with many re-quotes, which affects my emotion.

As I know from your profile, you are a bank trader. If so, can you tell me your experience of trading large order?

I dont know what platform you use but i am pretty sure there are a lot of MT4 scripts that will enter multiple orders of small lots (to break up a single big order). Most brokers have a max lot limit (but its per order) and will also take note of large orders and slip you. Breaking the order up should fix both those problems.

Either way it would be nice to be in the position that this was causing problems.

 

[mooneyja]

Well, I think it depends on what risk you want to take. I see Forex traders make 1000% a month trading in Forex contest.

As a Forex trader, I always remind me that what I need is to produce 5% weekly compound return consistently to earn 1,000% in 1 year with reasonable risk. However, you must understand the followings:

A)to achieve these returns, one must be 100% discipline or he can lose all of his profit in a short period of time;

B)You can only compound your return with limit because you will not be able to trade more than 50 lots in one order from most Forex broker. Once you are trading at the 50 lots range, you can't compound your return any more.

I hope this help.

If you are consistently earning 1000% a year you are not going to be replying to my little thread pal.

"Earn 1,000% in 1 year with reasonable risk", dream on!

 

[1only]

You could trade with someone better than that. I'm trading eurusd at the moment 15$/mio commissions and the spreads are as low as zero and never above 1 pip other than the open. gbpusd is usually less than 1 pip too. Execution is slightly different too. With Currenex you'll be hitting the banks directly, who don't requote.

So is it $1.5 commission per lot per side or round turn? Can you tell me your broker and I need MT4 platform? What is your experience of trading 50 lots or more on market order?

Thanks.

 

[brettus]

So is it $1.5 commission per lot per side or round turn? Can you tell me your broker and I need MT4 platform? What is your experience of trading 50 lots or more on market order?

Thanks.

Not sure about MT4 unless you can use an API. Not really sure how that works. 50 lots my spread averages around 1.2 ticks overnight, during the london session the liquidity would be better. 10 lots is 0.7 spread on average at the moment in eurusd.

 

[LiveTradingZone]

Why would you not trade Currency Futures which are regulated if you had $300k on the table? Just a curious question

 

[nunrgguy]

Edit - sum1 elase already said it.
Split it up n use limits

 

[1only]

Why would you not trade Currency Futures which are regulated if you had $300k on the table? Just a curious question

Well, it's very hard to master one skill and have no idea how to trade currency futures. You just need to master one market, even one pair for consistent profits.

 

[1only]

Edit - sum1 elase already said it.
Split it up n use limits

I trade with 15 pips SL and I must enter the market in the right moment or my SL will get hit easily. Limit order won't work for me.

 

[globalfx2]

Well, it's very hard to master one skill and have no idea how to trade currency futures. You just need to master one market, even one pair for consistent profits.

So that's a 50lot or 5M, or roughly $500/pip, on a 15 pip stop that's $7500. on a 300K account that's 2.5% risk of tot. accnt.

So What's your reward Ratio look like.

And you do this in one shot all in/out...But you wouldn't know how to trade a futures contract.

And you do this thru forex.com... :-0

Are you @^$@#& kidding me or just spoofing this thread.

You dont get paid for your liquidity, no rebates?

No direct bank routing?

What if I could give 1 pip or less spread and the ability to sweep inside for 30M in two pips, that's 6x your size?

Is any of this of any interest?

Anyway to the OPs question

One of the best ways to grow an account.... access and liquidity ...first.

Proper Risk/Reward profile...and that is personalized everyone's tolerance is different.

I use 1% of account size per trade scaled by volatility and price deviation parameters.

PM me if you need clarification

 

[brettus]

So that's a 50lot or 5M, or roughly $500/pip, on a 15 pip stop that's $7500. on a 300K account that's 2.5% risk of tot. accnt.

So What's your reward Ratio look like.

And you do this in one shot all in/out...But you wouldn't know how to trade a futures contract.

And you do this thru forex.com... :-0

Are you @^$@#& kidding me or just spoofing this thread.

You dont get paid for your liquidity, no rebates?

No direct bank routing?

What if I could give 1 pip or less spread and the ability to sweep inside for 30M in two pips, that's 6x your size?

Is any of this of any interest?

Anyway to the OPs question

One of the best ways to grow an account.... access and liquidity ...first.

Proper Risk/Reward profile...and that is personalized everyone's tolerance is different.

I use 1% of account size per trade scaled by volatility and price deviation parameters.

PM me if you need clarification

Is that 30M out with a bank or on your platform? Is that 2pips spread good in 30M? As in 28/30 30m either side.

 

[globalfx2]

We are talking ECN, STP platform, 1pip spread majors, 8-12M each pip out, bid/ask ...typically.
More liquidity than anyone in here should even come close to sweeping................ ever .

 

[brettus]

We are talking ECN, STP platform, 1pip spread majors, 8-12M each pip out, bid/ask ...typically.
More liquidity than anyone in here should even come close to sweeping................ ever .

Yea i have a currenex account converted into a spreadbet. The liquidity is pretty good. I wont be sweeping much of it anytime soon. Maybe a few max.

 

[guidemesingapore]

Yeah!!! Some resourceful discussion is here finally. Thank you guys.

 

[1only]

Well, I am here to share my experience on market order execution for trade size above 30 lots or more from Forex MT4 platform. I appreciate anyone shares his/her direct experience of trading large market orders, especially on MT4 platform. And I respect all your opinions.

Happy trading!

 

[brettus]

Well, I am here to share my experience on market order execution for trade size above 30 lots or more from Forex MT4 platform. I appreciate anyone shares his/her direct experience of trading large market orders, especially on MT4 platform. And I respect all your opinions.

Happy trading!

You're trading 30 lots or more already?

 

[globalfx2]

Well, I am here to share my experience on market order execution for trade size above 30 lots or more from Forex MT4 platform. I appreciate anyone shares his/her direct experience of trading large market orders, especially on MT4 platform. And I respect all your opinions.

Happy trading!

OK relative to threads title, "Size and How to get there"

Controling or limiting risk is essential to "getting there" as in not wiping out.


So as far as order types are concerned the use of LIMITS guarantees you'll get the desired entry price or better; thus it is a way to limit risk on trade entry. Additionally the use of limits and SCALING into sizable positions also can improve your average cost basis and help control risk exposure.

By using a MARKET order you are at the mercy of the Dealer to slip you and they will especially if you use the MT4 platform.

Are you aware there are plug ins to Mt4 that tells the dealer about your account stats and trading, whether the account is profitable and when and whether you should be traded against or with?

So when platform sends the 30 lot @ MARKET you'll get spun.

The only worse thing one could do on mt4, besides use it in the first place, is to use an EA provided by the broker or an affiliate. Because they are running the same EA 2-3 steps ahead of you or the counter EA and spinning you. Additionally they have the order flow on all their other clients accounts as well , in addition to interbank activity that you could only dream of seeing. So they know what to do with your market order.

It just like dining out. If I order fillet on a LIMIT, I'll get the fillet, not be flayed.
Oh, forgot to mention, I also get paid 2 bux per lot for using the limit!

Order with a Market and one might get a boney chuck, chucked, or more likely something that rhymes with the latter.

 

[safvan]

OK relative to threads title, "Size and How to get there"

Controling or limiting risk is essential to "getting there" as in not wiping out.


So as far as order types are concerned the use of LIMITS guarantees you'll get the desired entry price or better; thus it is a way to limit risk on trade entry. Additionally the use of limits and SCALING into sizable positions also can improve your average cost basis and help control risk exposure.

By using a MARKET order you are at the mercy of the Dealer to slip you and they will especially if you use the MT4 platform.

Are you aware there are plug ins to Mt4 that tells the dealer about your account stats and trading, whether the account is profitable and when and whether you should be traded against or with?

So when platform sends the 30 lot @ MARKET you'll get spun.

The only worse thing one could do on mt4, besides use it in the first place, is to use an EA provided by the broker or an affiliate. Because they are running the same EA 2-3 steps ahead of you or the counter EA and spinning you. Additionally they have the order flow on all their other clients accounts as well , in addition to interbank activity that you could only dream of seeing. So they know what to do with your market order.

It just like dining out. If I order fillet on a LIMIT, I'll get the fillet, not be flayed.
Oh, forgot to mention, I also get paid 2 bux per lot for using the limit!

Order with a Market and one might get a boney chuck, chucked, or more likely something that rhymes with the latter.

I have seen companies filling up limit orders without the price bar actually crossing the price point. It happens so often. It gets to show that no matter what they say most forex companies are taking positions against the client or are doing some bad practice. For short term day traders its so easy to get wiped out by just bad fills!

Market or limit does not matter most of these companies play their own dirty tricks to get their own price that suits them and protect it with the term *slippage*. I have seen it so many times.

 

[JahDave]

Well, I am here to share my experience on market order execution for trade size above 30 lots or more from Forex MT4 platform. I appreciate anyone shares his/her direct experience of trading large market orders, especially on MT4 platform. And I respect all your opinions.

Happy trading!

I trade with Oanda and I have not had this problem you have had with forex.com........
I did have some problems with forex.com,,,,,,,and that is why I switched to Oanda.....

Good Trading,
Dave