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james16 Chart Thread
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Nov 29, 2010 6:27pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Pinbar
Maybe a Trading station platform broker.
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Quote:
Originally Posted by Jey
FXCM provides a trading station platform, fantastic to trade. 
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Tradestation != Trading Station. One is a professional level futures (and everything else under the sun) trading platform, the other is just some junky inhouse margin fx broker software.
MT4 has its quirks, for sure, but it is better than most of the other 'free' solutions out there. As always, you generally get what you pay for
Quote:
Originally Posted by Adilius07
I read somewhere on the FF, that when something like this happens with Oanda they will promptly return all the money back, if you complain immediately.
Should be the same with IBFX no?
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Any reputable broker will scrub the trades if it is a data glitch. If they dont, then you need a new broker.
Quote:
Originally Posted by Adilius07
If this kind of things are ok with brokers, and one can loose money from such invalid charting glitches we really do nothing but gambling here. This is not serious.
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Welcome to the world of offexchange margin fx trading. You are talking about an industry built on giving massive leverage to people with $50 accounts with the promise that 'trading the aussie is easy', and where the profits of many players are directly correlated with how much their clients lose.
Most people dont even realise that they dont actually have a broker.
I wont even bother starting on spreadbetting and CFDs.
Quote:
Originally Posted by Oldice
Chasing the market? Yes. But this is a demo trade; I want to see what happens.
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Slippery slope, my friend. Slippery slope.
Quote:
Originally Posted by PhAnTi'
actually, there aren't any gaps, gaps a information lacks of your broker, so gaptrading is a myth and gaps as well.... markets are open 24/7,
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No they arent. And even if they were, whether the 'markets' are open is irrelevant if your broker isnt.
Quote:
Originally Posted by PhAnTi'
There is no big vola in december, actually most of the traders trade 10-11 months a year and enjoy the christmas time with their families and make some vacations
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*looks around* uhm..
Quote:
Originally Posted by PhAnTi'
markets will get smooth next few weeks until new year
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That's actually the opposite of why people recommend skipping lower volume periods.
__________________
When you have to shoot, shoot. Dont talk.
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Nov 29, 2010 8:10pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Adilius07
Hello Joel, then I just have a simple question. Why are we here? Learning with FX and then progress to Futures, that would be the right thing to do, or what would you suggest?
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Not necessarily. Nothing wrong with trading fx per se, there are just alot of scammy brokers out there just looking to fleece vulnerable and disadvantaged traders for a couple of bucks.
How else are you going to turn a profit on a bunch of hundred dollar accounts trading microlots? You dont charge flat commission, and the money you make on the spread of an account that size is barely going to cover your morning coffee - but if you can dangle 100:1/500:1/etc leverage in front of someone with limited knowledge and dreams of buying a yacht and encourage them to gamble their whole account...
For those people, it's essentially Vegas - but without the strippers, free booze or Tyson's tiger. And what fun is that?
Quote:
Originally Posted by Adilius07
I heard same things about FX in general before..I started in futures, options, stocks, bonds all but never Forex (because people say it's broker's way to rob you)... I found this thread, and only because I found this thread I am interested in Forex now..I thought there are some really serious people here, who really can make some consitent profit with forex and it is not just time killing addiction for them, like Nintento or something like this. So I am just a little confused by your statement, really.
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As I said, the problem is with shady brokers, not the instrument itself. My fault, I was probably a bit unclear.
Quote:
Originally Posted by Adilius07
There are also videos on youtube (well I saw them in Russian) with complaints to law enforcment officials by some russian traders who say that when they were more than 70% in profit, some silver positions were opened on their platform withouth them even touching their PC, those positions were then several times closed re-opened so the balance fall below the initial deposit. Several people (traders) went to testify as witnesses. And they could not prove anything as the broker had the log of those trades done from that IP, etc... So this could...
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Good to see that churning is still alive and well, lol.
Quote:
Originally Posted by Adilius07
I'm not a paranoid (maybe just a little) maybe I just didn't understand what you mean. You also said before you made over 100% in FX, can you share your broker? And why it is any better than FXCM, IBFX and others?
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Anytime people are trying to get money out of you, a little bit of paranoia is never a bad thing
I use Interactive Brokers, which isnt a real option for many people as they have some pretty high minimums that wont suit many people's account size or risk tolerances.
I have used Oanda, IBFX and MB Trading in the past and had no real problems with any of them. Couldnt handle Oanda's charting and order input system, and I think I just outgrew IBFX and MT4 - the spreads were a little too wide and the execution a little too slow and slippery for my liking. MB was good all around, just didnt suit me.
Quote:
Originally Posted by Adilius07
Oh sorry this post is little too long, just a little nervous before going for live account...
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Not at all - you are smart to be cautious. I wish more people were.
__________________
When you have to shoot, shoot. Dont talk.
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Nov 29, 2010 8:14pm
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My gun control is a steady hand.
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Quote:
Originally Posted by mbqb11
You simply need an edge and the ability to execute that edge.
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Says it all, really. Trading and life 
__________________
When you have to shoot, shoot. Dont talk.
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Nov 29, 2010 8:32pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Oldice
I used Tradestation when I was trading futures; never had a problem with it.
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Yeah, $5k plus $100/mo if you use them as a broker, unless you are hitting 10 roundtrip lots (or 100 minilots). Or about 250/mo if you dont use them to execute. Assuming they havent changed lately.
IB only has a $10k minimum account, but the minimum order size limits the number of people that would find them useful - 25-40k per order and 2.5% margin doesnt leave much room for a mini account.
I'm too poor for TS  I'll leave that to Jim and George Soros, lol.
Quote:
Originally Posted by Oldice
So perhaps TS and IB are trying to do us a favor by requiring account sizes that allow for good MM habits? (I mean, I doubt they are saints, but...)
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That's the difference between a broker that makes money from, well, broking and a 'broker' that makes money when you take a bad trade and blow your account.
Quote:
Originally Posted by Adilius07
With my previous 2 accounts I can really say I never had a reason to be suspecious or anything, just lost, fairly (Thinkorswim and Mirus Futures) ...
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TOS are solid. I've used them as an option platform for years. Their fx range looks pretty comprehensive - I wish I could short Zlotys against the Forint!
__________________
When you have to shoot, shoot. Dont talk.
Last edited by joelcf, Nov 29, 2010 8:50pm
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Dec 2, 2010 5:50am
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My gun control is a steady hand.
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Quote:
Originally Posted by Adilius07
Maybe it is a real chance for some lucky few..
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Sweet, maybe they can teach me to go bankrupt, disappear for a few years then come back and blow up a couple of hedge funds and lose money for a bunch of other people like Richard Dennis and Curtis Faith both did.
WHere do I sign up for this awesome opportunity?!
Quote:
Originally Posted by Adilius07
But if I can become successful there, it gives some other advantages - like being hired for some institution.
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You dont actually think this, right?
__________________
When you have to shoot, shoot. Dont talk.
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Dec 2, 2010 6:02am
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My gun control is a steady hand.
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Quote:
Originally Posted by Adilius07
I never say what I don't think 
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Me either - it's a good trait
No institutional will hire you on the basis that you did some training with an internet daytrading training firm. Maybe a prop desk somewhere, but that's an even bigger scam.
This whole thing is a marketing exercise by a private training company that makes a bunch of claims about 'price behaviour' and wants to promote their seminars and online training programs.
PB was right about it being scammy.
__________________
When you have to shoot, shoot. Dont talk.
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Dec 12, 2010 6:55pm
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My gun control is a steady hand.
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Quote:
Originally Posted by Guerrillawar
So if you guys have anything on your mind you ever wanted to ask a professional floor trader fire away!!!
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'Where can I purchase a time machine to take me back to 1985 when cme pit trading was still relevant?'

__________________
When you have to shoot, shoot. Dont talk.
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