Re: Any good recommendations for a Forex Broker????

[mike ball <thinkpad600e@xxxxxxxxx>]

Randy,
 
REALLY good information in your post. Actually, I just went to one of their "open house" meetings in San Francisco.
I am interested in FX and I'm working on some Quant models. So, I figured why not just go check them out.
 
It was truly Amazing to me that they are almost down the the tick, spewing out the same sales presentations that all the Equity Prop
firms were back in the late 90's and a few are still doing today. I suppose what is even more amazing is that somehow, people are
under the impression that "THIS" market is different when it comes to trading it. That it is somehow much easier to profit from FX, than
any other market. uh, ok.......
 
At one point in the presentation the speaker was talking about the 3 main Trading Systems they have. Wow, I said, a whole 3 systems!!!
For your entire customer base I asked?  No response.
 
When I asked how long these systems have been backtested and how would I be made privy to the overall performance summary of the results.
 
It was Deer and Headlights!  The room became silent and immediately he said, 
"Now that is a Good Question.."
"Now that is a Good Question.."
"Now that is a Good Question.."
 
.....uh,
"Now that is a Good Question.."
 
Right, so I understood that my question was good, and I was happy.
 
But I knew, that he knew-that I knew then, he didn't Know the answer..
 
So, after thinking about it for a while said, oh yes!  All of our systems have been backtested thoroughly for 5 y-e-a-r-s ! ! ! 
 
Then another helpful soul, a much younger lad from FXCM, shouted out to me that, "Yeah, and they've actual been traded live in walk-forward testing for 13months!"
 
I took a deep breath and thanked the young padawan and went on my merry way.
 
 
best of luck with them. IMHO, they will be dead and buried in a few years along side their equity counterparts, that strode down the same path.
 
I just hope they don't take investors/trader's money with them, when they die!
 
mike ball
 
 
 
 
 
 


----- Original Message ----
From: RGHSTOCKS@xxxxxxx
To: omega-list@xxxxxxxxxx
Sent: Friday, January 06, 2006 9:12:53 AM
Subject: Any good recommendations for a Forex Broker????


I've been using FXCM.  I do both very short term trades and  trades lasting 
up to a couple of days, but they don't like any very short  term trades less 
than a few minutes and have been giving me problems about  it.  Time to change 
anyway since they are part of Refco that's in trouble  and their spreads are 
too high anyway.  Has anyone used FXDD (FX Direct  Dealer) or FX Solutions?  Any 
other good recommendations would be  appreciated. 

Thanks
Randy
_RghStocks@xxxxxxxx (mailto:RghStocks@xxxxxxx)