the basics

zktier

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I have looked around the internet for a good source about the basic logistics of future trading, but with little results. I a few questions and hopefully somebody on this great forum will help me.

I want to trade the euro dollar through the futures market and these are the things I am wondering about:

- If I want to get as close to the spot price as possible what futures contract must I trade?
- What is the ordinary spread I pay when I get filled in the euro dollar contract?
- What other costs surronds the trade?
- What is a good demo plattform to start with to learn the basics?
- can i scalp the future contract, by that I mean be in a trade for only 5 minutes?
- Do anybody know of a good site that go through this kind of basic questions in a tutorial?

Cheers
 
hi zktier,

Welcome to the forum. You might want to take a look at babypips.com It's an extensive site on forex for newbies. Good luck with your trading.

BT
 
But is it futures you want to trade? Why not go to cme.com? I don't trade the currency futures, but I know they're rapidly gaining in popularity and with some the liquidity is very good.
 
I want to trade the euro dollar through the futures market and these are the things I am wondering about:

- If I want to get as close to the spot price as possible what futures contract must I trade?

The front month - meaning the closest to today.

- What is the ordinary spread I pay when I get filled in the euro dollar contract?

Probably a tick most of the time.

- What other costs surronds the trade?

Broker commissions, plus any costs you have for developing your trade ideas (data, charting, etc.)

- What is a good demo plattform to start with to learn the basics?

Generally speaking, it's always good to work in the platform for the broker you plan on using when you go live so you can learn their systems.

- can i scalp the future contract, by that I mean be in a trade for only 5 minutes?

Yes, you can.
 
I have looked around the internet for a good source about the basic logistics of future trading, but with little results. I a few questions and hopefully somebody on this great forum will help me.

I want to trade the euro dollar through the futures market and these are the things I am wondering about:

- If I want to get as close to the spot price as possible what futures contract must I trade?
- What is the ordinary spread I pay when I get filled in the euro dollar contract?
- What other costs surronds the trade?
- What is a good demo plattform to start with to learn the basics?- can i scalp the future contract, by that I mean be in a trade for only 5 minutes?
- Do anybody know of a good site that go through this kind of basic questions in a tutorial?

Cheers

you will probably get put on Mt4 by most brokers
 
Thanks for the answers.

Another thing. Is it better to trade news with futures compare to spot. With spottrading with a market maker it is commen they widen the spreads to 20 pips during news does this also occur in currency futures?
 
Ok I see. But, lets say I have a sell position in eur/usd currency futures and my stop loss gets triggerd during news when the euro gain against the dollar. In that case everybody wants to buy the euro and my stop loss should be valuble for the market and get no slippage because I want to sell the euro. Or am I getting it wrong?
 
I see. But could my stop loss get executed aswell? And what is most common. That the price spike through the stop loss without fill or that it will get filled?
 
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