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For some people, this might be the right package for them. It's not for the masses that's for sure. However, if you are one to consider this arrangement, please ask the Brights about hidden costs not given in his original post. Inquire about: 1) Haircut fees (interest on holding overnight...

I'm happy that the Aussie made such a big move and I missed practically all of it. I will remember this particular trade for a long time to come and the associated lesson it has taught me. Meeting in Jan sounds good. I'll mark it down. Cheers, DNAJ65000

Yeah, I didn't follow my own rules so the journal's purpose to help me be accountable didn't work. Obviously I need some more maturing to do before I can trade mechanically and unemotionally. I am happy to see that the system is working out well even though I am not making money from it. My...

I think you're limited to stocks in the financial instrument world if you wish to avoid leverage or margin. Because you are seeking volatility and maximizing profitability, the other financial instruments that one can normally trade aren't appropriate. 1)T-Bills 2)Bonds 3)Options 4)Futures...

I think the crux of the matter is that if you have a $5000 Self Directed RRSP and you are limited to 30% foreign content and no margin, you can only trade $1500CAD worth of stock. That is only 100 shares of a $11.50USD stock. Consider that if your account is at any of the big banks, the flat...

This is a great topic! I'm happy you brought it up. I never gave this 'problem' much thought since I'm not in that situation..yet. Good posts from others. The idea of surrounding yourself with other successful people sounds like good advice. From personal experience, I am happy and...

After failing to break 0.7475 and currently trading at 0.7465/67, I am moving my trailing stop very tight to 0.7460. Since this is my first trade with this system, I am locking in a 70 pip profit to give me a cushion for future losses. If my stop is hit, I will re-enter long once it breaks...

For anyone who's trading Forex and using MetaTrader, are their servers down? It seems to be connecting to the server b/c I show a green bar at the btm right corner. However, my charting data hasn't updated since 12.24. I have the Euro frozen at 1.2450, the Canadian frozen at 1.3068, and the...

You bring up a good point. That is, only people who WANT to be mentored will actually learn and benefit from it. Likewise, successful traders like yourself who learned the hard way and want to be fully independent and DO NOT WANT to teach will probably make a poor mentor. That is because...

place your bets gentlemen!

Decided to take 10k off at 0.7427 ------ Holding 10k AUDUSD from 0.7390. T/S @ 0.7396

Thanks for the succinct reply. Much appreciated!:)

I understand and currently trade the spot FX market. Whenever I try to read up on the futures side of things, I can't find a decent FAQ. Please be so kind to answer these questions for me and for all the other non-futures traders out there. Let's just use the EURUSD for all examples 1) 1...

To Iceman1: This current system that I'm committed to trading does not average up or down into a trade. Future optimizations of this basic strategy might include multiple entries to build positions. As for profits, it is taken when I flip being long/short. And yes, I am only really concerned...

I appreciate the concern. The worst string of losses where in June to July in CADUSD. 4 losses in a row with 1 break even punctuated with a decent 128 pip win followed by 5 more losses and one break even. Total loss is -187 pips. Next trade is a 420 pip win from July7th to July23rd. So...

If your research tells you that you produce a profit of $xx per year or month and you trade your plan, then you should expect results similar to your plan. When your real time trades show the same characteristics of your back tested results. Characteristics could include: win/loss ratio, avg...

Hi Shellback, That is a very nice looking equity curve you have on your site. That's an even nicer looking boat. I'm striving for that type of equity curve on my quest of becoming net profitable. Sorry I didn't show for the meeting. I wasn't sure if anyone was going to show so I stayed...

Thanks! Learn something new everyday.

If anyone understands this piece of advice to help one make a decision as to when to buy or sell, please elaborate. I think your original post contains the answer you are looking for. When you are trading not to lose, you are focusing on the risk. Risk management is a key to successful...

If I remember my univ accounting course correctly, both are on the LHS. Depreciation goes to decrease your capital assets. Since this message board doesn't allow tabs for formatting, a > will indicate a tab. ex. ASSETS >Cash $10000 >Accounts Rec $20000 >Capital Assets $180000 >>Less...