FXCM now has an ECN

I just found out that FXCM now has an ECN dealing platform option. Here are some details:

• $25,000 account balance or 10M per month volume
• Market level depth
• Commission from $3.5 - $5 per 100k lot. Commission depends on volume
• Seems like very good spreads

I know a lot of people have had issues with FXCM; however, I think those issues have resulted from scalping. With this platform you could scalp away without issues. I would consider this option down the road.

The State of My Trading

I have never felt more confident with my trading. I have been in the zone. I'm in the middle of my 3rd month since my fundamental shift in philosophy. I sit on a profit of around 2%. I'm hoping I get another 1-2% before the month is out. Although, I would be fine to finish the month with a 2% profit. The confidence comes because of my trading style. It is a style that I feel can traverse the test of time. It can be traded across different pairs. It is a style that limits risk.

Right now I feel I have created a successful business that can be duplicated. Like a regular production business that makes widgets, I have found a business that can create a widget for $1.00 and sell it for $1.25. Doesn't sound too significant until you scale it out. If you can produce 4 million widgets and then turn them around for a .25 cent profit you have just made yourself 1 million dollars.

The currency market is a unique business and can scale extremely well. You can scale small and gradually gain ground as your strategy is proven. With the goal to scale to the point of putting hundreds of thousands of dollars at work. In my case I have a measly $500 at risk. I am at a point where I am looking at how to safely manage my risk and scale up to where I can make some real money. At this point, I'm looking to different scenarios. For example...do I just start adding $1000 dollars a month. Do I jump in with $10,000 to start and add smaller amounts monthly.

At this point, I have been trading long enough to know that 3 months of success does not mean you will have absolute success. So, I will continue to assess and analyze what to do. I will kick-up the scale of my trading within the next 30-45 days.

Good times and I hope it keeps going.

Az Cards, soooo close

Well they didn't win but they were in the money, ha!