Mini account with good platform or any good charts software ?
7thSignalTrader
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Research:
www.fxcm.com
www.cbfx.com
www.oanda.com
www.fxsolutions.com
www.forex.com
Not every "good" trading platform is equaled by the charts available.
I use FXCM, as they have one of the most stable trade execution platforms available - AND - because they have lowered their spread on the many of the majors (3 pips on EURUSD for example). Some will even allow hedging out of the same account.
FXCM will not allow hedging out of the same account for now - they say it offers no advantage to the trader. I had a long discussion on the phone with "someone" at FXCM where I explain to him how I can use hedging to capture profits in 4 different directions on 3 separate movements from the exact same currency pair during the exact same session – basically taking a simple 50% net gain and turning it into a 200% net gain using the same pair in the same session.
Once he understood how I execute that type of trade, he said that serious consideration would be given to allowing hedging in the future. For them, it is a programming issue.
I do not use charts to make trading decisions. Charts are like window dressing as far as I am concerned - so I won't be able to help you there. I'm sure others will be able to give you a good chart reference.
Good planning and good execution.
www.fxcm.com
www.cbfx.com
www.oanda.com
www.fxsolutions.com
www.forex.com
Not every "good" trading platform is equaled by the charts available.
I use FXCM, as they have one of the most stable trade execution platforms available - AND - because they have lowered their spread on the many of the majors (3 pips on EURUSD for example). Some will even allow hedging out of the same account.
FXCM will not allow hedging out of the same account for now - they say it offers no advantage to the trader. I had a long discussion on the phone with "someone" at FXCM where I explain to him how I can use hedging to capture profits in 4 different directions on 3 separate movements from the exact same currency pair during the exact same session – basically taking a simple 50% net gain and turning it into a 200% net gain using the same pair in the same session.
Once he understood how I execute that type of trade, he said that serious consideration would be given to allowing hedging in the future. For them, it is a programming issue.
I do not use charts to make trading decisions. Charts are like window dressing as far as I am concerned - so I won't be able to help you there. I'm sure others will be able to give you a good chart reference.
Good planning and good execution.
I had a long discussion on the phone with "someone" at FXCM where I explain to him how I can use hedging to capture profits in 4 different directions on 3 separate movements from the exact same currency pair during the exact same session – basically taking a simple 50% net gain and turning it into a 200% net gain using the same pair in the same session.
I, and perhaps others, would be interested to hear the salient points of your discussion.
Thank you.
BTW, www.forextradingclub.com accepts hedging orders
I, and perhaps others, would be interested to hear the salient points of your discussion.
Thank you.
BTW, www.forextradingclub.com accepts hedging orders
Visual Trading systems also have a very good charting package and accept hedging orders:
http://www.cms-forex.com
http://www.cms-forex.com
Yanick,
GFT have what they call Base 10. This basically allows you to define your lot size, as long as the value is a multiple of 10. So for example, you can have a lot size of $1000, $1020, $2050, or the standard mini size of $10,000, which I have, or the normal lot size of $100,000. So although they do not specifically have a mini-account, it can be operated in the same way.
Their maximum leverage is 100:1
GFT have what they call Base 10. This basically allows you to define your lot size, as long as the value is a multiple of 10. So for example, you can have a lot size of $1000, $1020, $2050, or the standard mini size of $10,000, which I have, or the normal lot size of $100,000. So although they do not specifically have a mini-account, it can be operated in the same way.
Their maximum leverage is 100:1
smokingtail
Newbie
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Yanick,
Although I am not particularly experienced in Forex trading I have researched GFT and opened a GFTForex mini account. They have a 30 day trial account called Dealbook FX2 and using the CTA system I have been successful on Eur/USD and GBP/USD. I am now ready to christen my mini account $1 trades and continue the system I am using. Many have knocked CTA but it works for me on 10 minute bars.
Like I say, I am no expert and have limited knowledge of other forex firms but I have made some consistent gains and am very happy with their service.
Hope this is helpful.
P.S. If you or anyone else would like the email address to the GFT representative I use please just ask. I have found him very helpful with all questions.
Although I am not particularly experienced in Forex trading I have researched GFT and opened a GFTForex mini account. They have a 30 day trial account called Dealbook FX2 and using the CTA system I have been successful on Eur/USD and GBP/USD. I am now ready to christen my mini account $1 trades and continue the system I am using. Many have knocked CTA but it works for me on 10 minute bars.
Like I say, I am no expert and have limited knowledge of other forex firms but I have made some consistent gains and am very happy with their service.
Hope this is helpful.
P.S. If you or anyone else would like the email address to the GFT representative I use please just ask. I have found him very helpful with all questions.
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