Numbers Say Its Impossible to Day Trade the Forex

[chris_808]

Ok, if you day trading the forex lets say you make about 3-10 trades a day. For the sake of this lets say you make 3 trades. The commission on that if your trading EURUSD of USDJPY is 2 pips per trade (which is as good as it gets in forex). Then if you trading one standard lot that is $60 a day gone. Everything month that will cost you $1800. How can anyone make money day trading on the forex with such a constant pull down. It just seems impossible.

And that is why I am now walking away from this crazy forex-ness.

 

[case777]

See ya.

 

[nine]

Interactive Brokers

 

[Rossini]

The pip value for one of the majors (eur/usd for example) is currently £7 per standard lot. The commission I get charged is £18.00 per million so if I where to trade one lot I would get charged £1.80. That's just over 0.25 of a pip in commission. What's the problem?

 

[Hotch]

...by making >$1800 a month...

 

[alan5616]

Ok, if you day trading the forex lets say you make about 3-10 trades a day. For the sake of this lets say you make 3 trades. The commission on that if your trading EURUSD of USDJPY is 2 pips per trade (which is as good as it gets in forex). Then if you trading one standard lot that is $60 a day gone. Everything month that will cost you $1800. How can anyone make money day trading on the forex with such a constant pull down. It just seems impossible.

And that is why I am now walking away from this crazy forex-ness.

Find a broker who charges less commission. Intereractive Brokers has been suggested and their rates are very reasonable. A lot less than you are paying, by the look of it.

 

[foredog]

What's the difference in paying 2 pips on the EURUSD and buying a stock with a 1000 shares of a stock with a 1p spread and paying a commission either side?

So basically you're saying you can't make money with any instrument?

 

[darkness123]

...by making >$1800 a month...

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