I'll retired from trading Emini and Commodity. I will trade primarily on Forex. Oanda will be my broker. I can't trading with flexibility with IB. It need large amount of money to trade.
In the past months I already research about Forex Trading. The result was fascinating. Easy and Unstressful. I can risk any amount I want. Even $1 per trade.
Here's why Forex is superior:
1. I can't stand risking more than 1% per trade. However, my system sometimes told me to risk more than that, even with one contract only.
2. Longer TF. With wider SL but less $ risk per trade, I can trade more objectively. Currently I was busy entering trade, lot of mistakes, since I had to watch the market exclusively cause I was worried for being stopped out. With forex I just scanning the candidate, enter, and let it flow without too much stressful watch.
3. More Currencies Pair, GBPJPW, EURJPY, that kind of things gave much opportunity. I can entry more relax and my money management will be very intact.
4. No or less manipulation from The Fed
Please give me advice about choosing the broker. My criteria will be no Stop Loss hunter, No Requote, and Easy to take Profit :)
I think it's a better idea focusing on one market where you are more comfortable trading. Keep it simple... ;)
ReplyDeleteYes right, I was crazy to trade almost every instrument out there. But I will focus on Forex nowadays since it's more longer term. Tq for coming :)
ReplyDeleteGood luck and be careful in Forex! I'm sure you know this but spreads can vary greatly from broker to broker and they widen big during news. I traded Forex years ago and swore I would never go back - currency futures are much better in my opinion (but less pairs offered of course).
ReplyDeleteTq MBA, I trade small with Forex. around $50 per trade. Hope not much harm :)
ReplyDeleteOanda is a very good choice: stable platform, tight spreads (except at news time like any forex broker), possibility to trade whatever size you wish. I had an IB account in the past and moved to Oanda for the flexibility of trading the size I want, which allowed me to develop more complex money management techniques. From my point of view, only their charting package sucks but there are of course other ways to get good charts.
ReplyDeletegood move... Just FYI with Oanda, you can trade gold as well.
ReplyDeleteFXEdge and RCM,
ReplyDeleteTq for ur input guys. But I thought to stick with IB for a while. I just little afraid with Oanda frequent downtime (saw ur site RCM :( )
And also problems with cheque and wired fee as I lived outside US.
But overall I may considered Oanda if I changed to Forex Broker.