LIQUIDITY lot sizes forex no orderbook lot volume

[Proffesor1712]

I have a question if the forex market has no orderbook where you can see the volumes in lots and where prices are in respect of their volumes

for the top 10 percent of traders that are trading say 5 10 positions of 50 lots apart from the answer of well london session is the most liquid should be fine lol and yes i know supply and demand blah

but how would you know if the orders you intend to trade would take up the entire order book and cause a massage slippage not talking 3 to 5 pips how would you know with no order book that when you press that button price is not going to crash
as far as i know we can only see actual volumes on an order book for stocks but not forex

[flamingoproxy]

@Proffesor1712

as far as i know we can only see actual volumes on an order book for stocks but not forex

quite right - stocks have a centralized exchange; forex futures do; spot forex/CFD-forex doesn’t

@Proffesor1712

if the forex market has no orderbook where you can see the volumes in lots

reliably on the CME (futures volumes and DoM)

less reliably (but maybe good enough for some?) with a huge broker (maybe Oanda?) whose volumes/orders “should be” roughly proportional to those in a real market

@Proffesor1712

for the top 10 percent of traders that are trading say 5 10 positions of 50 lots

when you “trade” with a spot forex broker, you’re not really trading at all - just betting against them on the price of their own “products”; no currencies actually change hands, and your “trades” are not in any “market” at all

none of the top 10 percent of traders that are trading say 5-10 positions of 50 lots is trading spot forex - take this literally, when I say “none” I mean not one - for the very simple reasons explained here and here

@Proffesor1712

how would you know if the orders you intend to trade would take up the entire order book and cause a massage slippage not talking 3 to 5 pips how would you know with no order book that when you press that button price is not going to crash

by trading futures instead of spot

Is Forex really decentralized?

I’m sure that’s right. I think it’s often because they’ve decided it’s comfortable to believe the lines they’re spun by counterparties pretending to be brokers. The idea that it’s somehow not decentralized any more “because we’re working with brokers” perhaps illustrates that? It’s totally wrong anyway. This myth just won’t die out. Firstly, that very rarely happens. Secondly, even when it does, the customer isn’t in any way “connected” with the LP. Thirdly, no currencies change hands. …

[Pipsteroid]

@Proffesor1712

for the top 10 percent of traders that are trading say 5 10 positions of 50 lots

Nobody trading ONE position of 50 lots should trade spot forex or CFDs. It would make no sense at all. Why pay spread when you don’t need to? Why worry that the “broker” might not pay out or might not be able to because they held the losing side of a big bet?

[BAD14214]

I’m currently in the process of learning such topics but so far from what I understand if you have your heart set on Forex (Currencies) then to assist you with deeper order book and volume details you can lean on the Futures market and a futures trading platform.
For example you want to trade USDJPY you can monitor Japanese Yen Futures for order book and volume.
But unfortunately because of the nature of currency exchange where there is a huge volume of trading unseen and not reported it is not the best.