Quiting forex after one year

[bluewrath666]

Thank you everybody for sharing your experience and providing advice on this thing.

I have been giving some thought to the subject and I think I am going to paper trade eminis for a trimestre in order to familiarize myself with the basics and benchmark the results with forex .

Anybody can recommend a trial emini plaform to paper trade?

Thanks again and good luck to all of you !

[uppernet]

maybe you can try tradestation
http://www.tradestation.com/default_2.shtm

there are many demo trading sites for emini trading ... i have not yet tried trading real emini but i am now opening an account with tradestation and just waiting for the account approval .....

s&p mini futures symbol is es

expiration symbol is:
h - march
m- june
u- september
z- december

then the number stands for curent year ...

since this is end of august .... you can choose to trade esu4 or esz4

esu4 ..... means s&p emini september expiration 2004

esz4 .... deember expiration 2004

it is best to daytrade emini to avoid surprises ...... futures is not good for trading long term because it will expire worthless .......

for one mini contract, each tick is $12.50 .... assuming you are paying $2.50 commission per trade , even if you play just one contract, the roundrobin cost is just $5 .... that means even if you bail out with +1 tick, you are already in profit territory ......

as i said, it would be interesting to see mick mason and bunny girl experiment on emini trading demo ...even just for fun .... i think they will do very well

[merlin]

Originally posted by bluewrath666
I am seriously considering quitting forex and go into a regulated market (perhaps Eminis)

im with ya...im looking at the eminis too...

[elmagd2000]

IMHO
There are some facts that have to taken into consideration:

- FX market is considered the most difficult tradable market for many reasons known by the most.

- On the other hand, it is the most rewarding in trems of ROI based on certain period.

We experience troubles in Fx because we rapidly jump into the sea with our hardly gained money without a predifined winning startegy. may be based on someone recommended system which fits his style and we adapt it negatively.

So I think if you want to be a successful FX trader you have 2 choices:

- Trust someone's system, test it on demo account then follow it blind.

- the other way which is better IMO is to learn the basics, try many systems on demos and get the best tools till you reach your own self-fitting winner one. It may take a year more or less but, you surely will find it and the rest is easy.

That is my opinion, what do you think?
Hani

[uppernet]

agree ...

my believe is once you learn technical analysis and learn to discipline yourself in following a good system suited to your personality ..... you probably will make money in any market whether it is stocks, etfs, options, futures or currency ...... being a consistent winner on the average is attainable ....... but the degree of profitability will be better in easier market especially when frequency brokerage fraud is minimized .....

[doragio]

Originally posted by elmagd2000
IMHO
There are some facts that have to taken into consideration:

- FX market is considered the most difficult tradable market for many reasons known by the most.

I'm curious, what are the reasons making forex the most dificult tradable market. Other than being non-regulated, any other factors?

[pipseeker]

Software: ensign
Datafeed: Interactive Brokers

For IB customers the futures realtime data is free. Demo data is delayed and free also.

Free intraday history data for simulator trading or/and backtesting can be downloaded by the SCMagic software (past 2 years 1 minute ES data available).

Ensign can be used to trade the real data with demo account and it can be configured to use any simulated price data (from the history data files) in "realtime" (you can set up the playback speed 1x, 2x etc.)

Im using this platform and it really works!

Ask more from NQoos yahoo user group and follow the EChat community.

I really can recommend this platform!

[elmagd2000]

Uppernet,

just to state that: I have no benefit to make others stay( unless we are the last remaining 2 clients in fx and my winning system get your money into my account )

I just believe that Fx market is considered a perfect tradable market as soon you get its secrets. This is attainable by sincere work.

Regarding Brokerage's fraud. Personally I was concerned with that issue and seriously thinking to switch to a bank where better regulations. I am currently studying alternatives.
Quiting totally is the hardest word and I think there still good ones around to deal with.

Hani