jimrobo wrote:a lot more is stacked against you in forex. the price informtion on a lot of charting is not real time so retail banks have a massive speed advantage over you
It's true that the information you get isn't 100% real time. But if you're trading on the 5 or 15 minute charts, the fact that you might be a second or two behind the action is of no consequence IMHO.
jimrobo wrote:Forex is not an exchange so the price you see is not the price you get filled on, so as well as being behind the banks you also have to be several pips in profit before you are actually in profit according to the price you are seeing in your charts.
That's not the case with all currency pairs - you can trade EUR/USD with a 1 pip spread, for example. And if you're trading a larger timeframe (say 1 hour plus), the spread is neither here nor there.
jimrobo wrote:Unless you have level 2 access you have no idea what orders are placed at what prices and the larger institutions can see orders.
I could probably get level 2 information with Pro Spreads, but I don't need to know about the wom. All the information you need is contained in the price action.
jimrobo wrote:I'm not having a go at forex I am just saying why the professionals I know do not consider forex a professional trading product for a standard retail trader.
I beg to differ from them, having corresponded with professional Forex traders and used a Forex trading room, full of full-time pros.
Jeff