Re: I wonder
Posted: Thu Sep 09, 2004 11:08 am
The Oanda, Fxcm & GFTForex seem like bucketshops (my opinion). I like Refco, but they have a alliance (same back-end) with one of the above 3). After checking out all three, I found prices to be different, and they will take my stop price.... even when there was no trading at that price.
I take prices from Forex on GbpUsd or EurUsd , and put the trade on the Chicago future BP U04, EC U04 (TS symbols). The spread between the future and the forex is nearly constant and the risk I am willing to take. Also bid-ask spread is narrow. and volume in daytime is high.
Can you expand on 'trade the interdealer market'. What are the mechanics. Thanks.
Frank, San Diego
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[quote="Ghostrider"]I read posts from intelligent sounding people, but I say, trading on owanda or fxcm?? I see these sites as an online casino, if you trade currencies trade the interdealer market. Anything less is unprofessional.
I take prices from Forex on GbpUsd or EurUsd , and put the trade on the Chicago future BP U04, EC U04 (TS symbols). The spread between the future and the forex is nearly constant and the risk I am willing to take. Also bid-ask spread is narrow. and volume in daytime is high.
Can you expand on 'trade the interdealer market'. What are the mechanics. Thanks.
Frank, San Diego
**********************************************************
[quote="Ghostrider"]I read posts from intelligent sounding people, but I say, trading on owanda or fxcm?? I see these sites as an online casino, if you trade currencies trade the interdealer market. Anything less is unprofessional.