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Actually, you probably do have a bid and an ask for that baseball card. Is there a price you would be willing to sell your card for right now? $10? $100? $1m? Well, that's your current asking price. There is probably also a price you would be willing to buy a second, identical card...

Excellent post. You've lost a lot of money but gained a lot of wisdom. It might turn out to be a good trade yet. I'm still working on your last two points. You said them well. Trading is like bricklaying. You just do the same thing over and over and try to build your wall a little higher...

Interesting thread. Losing trades are so much more interesting than winners. Lots of people have given suggestions on what Gordon Gekko could have done differently, but keep in mind that markets are hard to predict. Even if we do everything right, there are still going to be losses. It's...

And if the Fed does anything unexpected tomorrow, or even has unexpected "language" in their statement, that'll move the market.

Where is the choice for "no repercussions, because the extremist terrorists don't really care for Hussein's secular goverment either"?

Well, I went to MIT and my response is... ...thank you for listing MIT before Harvard! :D

Isn't this already possible with the OCO (one cancels the other order)? I've used it with IB's TWS and it worked for me.

I can't use the latest G550 driver. I forget what happens but I found success with the previous version of the driver. Try the older driver.

Whatever you do, I think you should write a book. You've got an interesting story people can learn from. What advice do you have for a young person who wants to start trading? Trading is the hard way to make easy money.

What is your job, EliteThink?

As a counterpoint to vvv's posts... I've got a large portion of my net worth in a hedge fund (mine, of course) and so far it has done well. Just like with mutual funds -- there are good funds and bad funds.

Keep in mind there is a difference between trade size and ticket size. For example, if I bid 10 lots and 10 different people offer a 1 lot and sell a single contract to me, then the average size of the 10 trades is 1 but the average of the 11 tickets is 1.8.

Can't think of any discretionary managed futures funds offhand, but I can tell you that Barclay Trading Group, a firm that collects and distributes CTA (commodity trading advisor) performance data, publishes a discretionary CTA index. Some of those CTA's must manage pools. Barclay also has a...

I've heard that the average ticket size in the e-mini's is between 2 and 3 contracts. This means there are a lot of 1 lot traders out there.

Does your IRA have its own tax id number? When you fill out the account forms, what do you put into the tax id number blank? Your personal social security number? If you put in your soc. sec. number, then when the IRS gets the 1099s, won't they be looking for the amounts to be reported on...

Yeah...No noticeable difference in speed of online execution or quotes between IB and Ffastfill.

Having recently switched from IB to Ffastfill I can objectively compare them. I've already posted the pros and cons of each. To summarize: Ffastfill is less expensive and has wonderful customer service. IB has a better frontend (TWS is better than the Citrix system) and has an API for their...

It sounds like you took a couple losses similar to what Corallus took with the breakouts not working.

Nice post. Thanks for the results of your stop loss/profit target analysis!

You've got the Slimfast bar so you don't have to break for lunch. Now don't forget the Foley catheter... :p