Forex Trading

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Hi,

I will be getting eSignal and trading Forex in September. I would like to know if anyone has been using eSignal to trade Forex, and what brokerages people are using. I would like to hear all positive and negative comments people have regarding various brokerages, etc. Thank you for all comments and help, I am just looking to get headed in the right direction. I have been trading futures and stocks for six years, but am brand new to Forex.

Thanks!

Troy

[fabrizio]

his Link can Help you.In Good and Bad


Cordially

[fabrizio]

Originally posted by linus71
Troy,

I've been using the Yahoo Groups to find a futures broker.
Got a list of choices, then found one.
This is just a suggestion as this Forum is just about the eSignal Software itself.
Many traders are happy with Interactive Brokers trading Forex ........

Linus

Troy

I posted the link for one simple reason.
Trading Forex ( if you want I can give you 5 names of good brokers jUST for FOREX that I am in good relationship with) it is Very Different than trading futures.
Remember you are in some way in the hands of the MM.
If I were you I would slightly shift from one to the others and see how the "slow pace" and the rest is for you. Of course good profit opportunities , very good.
Do not care about the Free Commisions: the traders on the floor manage the spreads t their own advantage, so the commison is already in, And maybe sometimes your own broker play against you.. So , no problem if you know it.

Read the forum. It will helps you as he did with me few month ago...

[fabrizio]

Troy

May I add this quote? I cancel the name of the Brokerage Firm , but it is pretty weel known...I can tell you in PVM

Re: XXXXX hmmmmmmm.


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The spread is quite large - 5 pips (I think the spread on the underlying is about 1 or 2 pips?) makes scalping anything nigh on impossible unless you can cross the market, which they don't seem to want to let you do. They also won't let you place orders inside their spread which is a little annoying.
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Hello, ..........
Well, things work a bit different here. When you trade via XXXX, they are the one you buy and sell from. They have no 1-2 pip to pay - all 5 pips are theirs. Do you really think 10k contracts they offer (mini) - is realy traded on interbank market? Of course not. 95% of traders loose their money and the money goes right to their pocket. On the other hand, if you make 1mio and more contract - they most probably go to interbank, and there they also dont loose. All they have to take care of is their quotes to differ from interbank quote they have with couple pips in their favor. And thats not problem - syncronizing platforms with couple pip difference. If you look at couple trading platforms offered by diferent brokers/market makers, for ex fxcm and gain or cgi - they most of the time have different quoted at any given time. Also, if you look at daily highs/lows of two different brokers you see theres a difference of upto 5 and maybe more pips...how come? mistery? maybe. But all this shouldnt bother a trader - we are all after money, and they are also. And about scalping...I dont think this would work. I would suggest you trying to target bigger profits than couple pips. Me, for one, I'm never targeting less than 100 pips...but everyone has his/her own aproach, so lets not get into it. Anyway, I wish you best luck in forex market. Its really better for me than any other. I started trading forex, and never even thought looking to other markets. For now. Who knows what's gonna happen later...?
Cheers.

P.S. We discussed this topic called "how markets really work", and I found it for you. I participated in this discussion and therefore know its good.