Very good point. With even distribution and 50% success rate it is possible to have 10+ losers (or winners) in a row.
There are plenty of books on money management (or with a good money management section) and I don't remember any of them mentioning martingale.
Umm...
This is the last I heard of it:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=50077&perpage=6&highlight=ib%20futures%20cancellation%20fee&pagenumber=2
Yes.
Login to 'Account Management', click on 'Funds Management' on the side then 'Futures Pricing Designation', mark 'Unbundled', click 'continue' and you're all ready to start saving $.08/contract RT.
I think they are great.
Some will argue.
I think you should at least give them a try.
If you don't like them, move again.
There has already been much written about IB.
Do a quick search and you will get everything from "WTF? How do they call themselves a business" to "best folks to be with".
Although some may have chosen to be more polite, I think it sums up the sentiment of most that haven't had the chance to see it.
Anyone who had looked at the other threads regarding the video would know that if s/he checked before starting a new one that doesn't offer anything new.
If you don't have one already, why don't you just trade a traditional or Roth (if you qualify) IRA? If you don't have one yet then you can contribute $3000 for the year. That's enough to trade one contract in lots of products. It's a start.
:p If a trader can't make it happen trading 1...
It can be done, but I don't know about the timing. I converted my 401K to direct rollover IRA (which is good to go for futures) after I left the company with whom I had the 401K.
The medical coverage is a bit easier to take when one is Canadian, which I am. But it all balances out. The govt. runs the liquor store and the prices are about as unreasonable as medical coverage in the US.
My $.02 (if it's even worth that much)....
Have a plan and stick to it so that...
-Put-call parity will keep you from putting on the trade immediately..
-While you wait, if the stock goes down you're left holding a loss because you can't sell it on the off chance that it spikes snf you have to deliver and buy it at market.
-You will rarely find options that go in such...