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Update for week ended 12/14/2007. Had ups and downs, but it felt decent overall. Using the software that automatically puts in the stops has allowed me to focus more on the right setups. Ended up adding a few percent to the bottom line. Next week I plan to demo ButtonTrader in lieu of...

Do you have a workable solution or are you just a fucking idiot KS96?

Thanks guys. Now that I've got a clearer picture - it's really not a big deal and makes complete sense. Like Jerald from IB said, most retail platforms don't even show the settlement process since it is automatically performed. Everyone at IB was very helpful (considering it was my...

According to the IB rep, it is normal for retail traders to be unaware of the need to settle back into the base currency since nearly all retail platforms do this automatically.

Today I just found out I should be settling my cash balance everyday via IDEAL (and pay the corresponding commissions). I was made aware of this by the helpful forex specialist named Gerald at Interactive Brokers. I called them to find out exactly what the daily statement line item called...

I think all interest/cost of carry is covered in their "Accrued Interest" line item. And these positions were only held for a few minutes.

I have noticed that my IB statements now include a line item for "Cash FX Translation Gain/Loss". Can anyone explain what exactly this is. This line item has turned slightly profitable days into complete losers. Here is an example from my latest statement (of only forex trades)...

Update for the week of 12/3/2007. I needed to jump back in the saddle. I traded 3 days this week and focused only on my discipline. I am trying out some software that automatically puts in stops for me (ZeroLine Trader). Stop orders have been my weakness and this software is helping me...

I agree with kiwi_trader, Sierra Chart is an exceptional value.

Thanks traderNik. I definitely screwed myself this past month but am putting it behind me and will keep chugging along. By laying it out here I hope that it can be of help to myself and others. I had seriously considered not posting to this journal anymore in the hopes of it just going away...

Ask and you shall receive... www.elitepiker.com

This isn't my obituary, but I am afraid reaching my goal this year is not going to be possible after my undisciplined November (I have completely erased the gains made during the past two months). Looking back, my outstanding September was the result of a series of lotto ticket trades. At...

It heped me to think this way... Targets are no different than stops; you exit when the trend reaches that point. There is nothing to regret if you have followed your plan. Good trading!

IBController works fine: http://www.elitetrader.com/vb/showthread.php?s=&postid=1670784

I can't compare stocks to fx for you but I think your thoughts are distorted. FX trading offers plenty of risk -anything is possible as a currency could certainly become worthless. You're right about the good liquidity, but regarding the trading hours, it can be a double edged sword because 24...

The one I use is called IBController. You can get it at the TWS Yahoo group... http://finance.groups.yahoo.com/group/TWSAPI/files/Auto%20Login%20Codes/

Good luck athlonmank8, I've been in your position and can tell you that it will be a long grind back up to where you were. Take it one day at a time and avoid focusing on how much you lost.

Just had one yesterday as a matter of fact.

I'm short 300K on that position.

This may be an ignorant question (as I may be missing something completely) - but why am I being charged interest on holding a short EURUSD position? I look at it this way... EUR is at 4.00% and USD is now at 4.50% (4.75% the other day), yet I am charged interest on the position that is...