institution traders are big players in Forex industry . i think they are not available in there , they never share their experience or anything in publicly.
Yes I know plenty, itâs true they keep themselves to themselves, they use very different processes to retail which are not convertible, they have to be translated, Iâm kind of the voice for them.
there are plenty of independent traders who used to be institutional traders but now trade independently for a variety of reasons (semi-retirement, working part-time, wanting a change of environment, burn-out, redundancy, etc. etc.)
none of them is trading spot forex
literally not one
iâve worked on a couple of âtrading floorsâ myself (theyâre almost all âvirtual trading floorsâ nowadays), over the decades, and know many, but as i said, none is a spot forex trader
itâs because of all the nasty disadvantages of trading spot forex (all the things discussed here in hundreds of threads: lack of transparency, regulatory problems, broker problems, lack of fund protection, the fact that it isnât actually trading but only betting against a counterparty who deals in their own âproductâ and sets their own prices and spreads, etc. etc. etc. ⌠these are all things that would preclude any professional trader from touching it at all when they donât have to and can so easily avoid all those problems
mostly futures (and i suppose some former bond-traders and options-traders are trading those, too, if thatâs what their training was and thatâs what they were formerly employed to do)
âfuturesâ includes forex futures, of course, for the ones (like me) who like trading currencies ⌠the futures move almost pip-for-pip (tick-for-tick) the same, so itâs very similar, really, but just avoids all the problems of spot forex
the main advantages are:-
your broker is on your side, never against you, and wants you to win
itâs a transparent market where every broker always has exactly the same prices, because prices are not set by the broker but by a real, transparent market
regulation is much, much better and safer and funds are much better protected
thereâs effectively no spread, and the commissions are lower
whatâs not to like?!
when you look at all those advantages, itâs pretty easy to see why no pro would ever want to touch spot forex at all, really?
like almost everything Sam Seiden has ever published, the article is âmarketing dressed up as âinformationâ,â but on the subject of the differences between spot forex and forex futures, he doesnât say anything there that iâd disagree with
Iâm currently in the final stages of setting up an account with Interactive Brokers, a highly reputable broker. So I am going to give futures a shot. If I like what I see after a few days/weeks then Iâll probably make the switch.
Iâm excited about this. Thanks for steering me in this direction @flamingoproxy.
Iâm not an institutional trader, but I can tell you, itâs a different beast with its own strategies and high stakes.
Check out âInside Jobâ and âLiarâs Pokerâ for some real deep dives. Also, donât skip those big bank reports - youâd be surprised how much they reveal!
