hi, do anyone know a good place to download books, it is learning stuff.
i hope it is free
The best free books and education are at www.forexearlywarning,com
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For example a large hedge fund wants to buy 300 million USD from a major pair in the shortest time possible. What strategy could he use in order to open the position without affecting the price too much. Would he buy them in increments from different interbank platforms( if yes, how small, and how many seconds or minutes before the next increment) or would he open it in a single large block from 1 interbank platform?
Also i have seen in interbank platforms like currenex, that you can actually open a position with one large block of up to 100 million USD based on ECN prices. But by doing that you have to pay the large spread of 5-9 pips(even for the major pairs). Would this action of buying 100 million USD would move the price 5-9 pips respectively.
Another question i have is if by using many interbank platforms to open a position with increments, will you actually not move the price a lot(example: 300 million USD divided by 4 interbanks, 75 million for currenex, 75 million for icap ebs, 75 million for hotspot fx, 75 million for fxall in lets say a period of 2 minutes and increments of 1 million) will this be a good strategy, or it doesn’t matter if you use different platforms? Is this legal (to use many platforms)?
Not familiar with what specific firms actually do, but I can address several points in your question.
If you don’t want to affect the price too much, use limit orders. You can "sit on the books" and let someone buy/sell into you. You are trading the speed (and probability) of execution for a better price. You can also place multiple limit or markets orders of smaller sizes across time and price levels in order to not appear to be one massive order. Algorithmic traders who spot your massive order may trade against you in the short-term knowing that you want to put in $300MM.
It’s legal to use multiple platforms as long as you’re not using them to trade with yourself to appear as if there is trading volume when it’s actually just you selling to yourself. Not really an issue with Forex markets as opposed to penny stocks that typically have no liquidity.
Forex markets should be arbitraged across, so that at any time it should be arbitrage free. If you were to push up the ask price on platform A, someone could buy on platform B and sell it to you on platform A at the higher ask price. However, chances are both platforms are accessing the same set of market makers and banks, and will be buying into the same market simultaneously. In terms of execution, it would be the same as putting 4 orders of $75MM through the same platform.
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There are thousands of sites that will drive you nuts with emails about how wonderful their training is and who will try to sell you extremely expensive courses. Ignore them because there are plenty of free resources and those are what you should use.
As an aside, you should try to keep things simple. There are no robots or magic indicators that will successfully trade for you. You have to learn for your self. Get a practice trading account and use it until you know what you are doing. That may take a year or more. Chart time is really important.
Two guys that I really rate are Sam Seiden and Lance Beggs. They both post regularly and talk a lot of sense. Just to repeat, do not get hyped into buying training courses. If the guys who are selling them are so good, why aren’t they trading?
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In theory, the benefit of speculators in the market is to provide liquidity for those who need to hedge for business purposes. My question is, in futures and forex, contracts are cash-settled and 99% of brokers forbid any physical delivery in both the spot Forex and Futures forex/commodity/index/etc futures. How is public speculation money being effectively used as the other side of the hedge trade if we aren’t trading the same contracts as the big boys?
Like with FXCM or any other Forex broker that says they are STP, when they credit your account 100,000QTY of EUR/USD if you went long 1 standard lot, are they really giving you 100,000 euro’s that another person (Be it a bank, company, government) needed to unload on the Interbank? That’s how these companies market, but I’m wondering if it’s a bunch of false advertising anymore.
okay so can you give me a view of the flowchart? i.e x > y > z
whos balance sheet changes?
As a 10+ year Forex trader, here is how I trade to make money…
If you want, you can also follow these steps. I’ve dumbed it down to the easiest, yet safest way to win in the Forex.
1) Open a live account at http://bit.ly/iPV25O
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) "Add to Portfolio" the top 20 strategies at http://bit.ly/mJiyZV
5) Don’t add any strategy that makes less than 10 average pips per trade.
6) …when adding strategies, set maximum number of trades to 5, and…
7) …select lot size of 0.1 "mini" lots for each $1000 in your account.
It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.
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While hedging in FX is no longer allowed in the U.S. since May 15, 2009, it is still allowed in Australia. See the website link below:
http://support.fxcm.com/fxts/user-guide/trading-functionality/hedging/
http://felixforex.com/
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Hi, my friend has been trading the foreign currency online apparently or he called it the forex. Apparently you can buy and sell all currencies like when you go abroad, and then when they change price you take profit. I think he must be doing quite well from it because of his house and car, and I want to as well but he will not tell me how.
Also do any of you make money with it?
Hi, first I would say that trading the forex market is not just a simple case of you make a profit either way.
It takes a little time to understand and to trade profitably. I should know, I have been doing it for a few years now. I am slowly growing an account, but its not so simple.
If you just want easy money from it, then your best option would be to try some signal services.
BUT before you do that, read up on it. Here are some I found on google:
http://www.forexfactory.com
http://www.forextradingsignalservice.com/forex-begginers
http://www.babypips.com
Also for signals that forextrading… site does do signals also. But remember to read up on it first. Also you will need a substantial account to make decent profit.
Best advice: take it step by step.
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Forex.com won’t let me because I’m from Canada and there were these threatening warnings about identity theft and stuff so I didn’t wanna just put I’m from the US and insert a fake identity number (whatever it’s called in the US).. Oanda.ca has terrible charts and so does investopedia.com; it’s just a line chart with no technicals whatsoever
So are there any other good websites? What’s funny is that I could set up the Forex.com app on my iPhone and it actually has better charts than any of these other websites
Thanks a lot
Have you tried FXCM, Easy Forex and eToro?
I used these platforms and think they are all pretty good.
Easy Forex offers trading on iphone so you might want to check out that option.
Most of brokers offer pretty good trading software with charts and plenty of indicators.
I am promoting Easy Forex and eToro because they are pretty good for people new to forex but also have a look FXCM.
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