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Thanks Hurricane! I appreciate the help.

Correction to my last post: Would BUYING an equal amount of USD.EUR be a good hedge?

Thanks, Hurricane. Would selling an equal amount of USD.EUR be a good hedge and then just leaving both positions open as long as I keep trading the FDAX?

I have a Roth IRA account with IB and my base currency is Usd. I would like to trade the FDAX intraday. My understanding is that with this account type I would have to execute a currency trade on IDEAL because you can not borrow currencies with a Roth IRA. So my question is: If I purchase...

Thanks FB123. I also want to thank BPtrader for starting this thread even though his intentions aren't clear as to why he started it. Regardless, I have benefited from it none the less.

For what its worth, the original post describes my trading perfectly. The reason I move my stop when a trade goes against me and hope (a very bad word in trading) the market comes back and bails me out, is because it has done exactly that so many times. This reinforces the very bad habit of...

Thanks all, makes sense.

Great thread, possibly the last one I read. At least for a little while.

I would be more worried about my broker fading my trades. If I consistently lose than they have a great chance to make money by doing the opposite of what I am doing and they would only have to enter after I made my trade and not try and figure out why I enter when I do. This would be much...

I heard or read that the Pros fade the market to the newbies (like me). This has come up a number of times and got me thinking why not trade with the pros. I can't seem for the life of me to catch a trend and stick with it. Probably because as soon as I have a profit I will move my stop to...

Wouldn't you be better off just going for target 1? If so a one contract strategy with you results would look like this: A. 1.75 * 7.5 (75%) = 13.125 B. -2.25 *2.5 (25%) = -5.625 13.125 -5.625 = 7.5 gain per contract as opposed to 13.75 gain for a 2 contracts or 6.875 per contract...

Just an idea on compensation for the mentor: The mentor will get a percentage of the students profits for a set number of years. Even if the mentor is a great trader it doesn't guarantee that their student will be. However, with this type of arrangement they will have a vested interest in the...

Do what works for you.

Trin is trending lower this is bullish. Trin going down, look to go long. This is what I meant by trade in the opposite direction. Is this right?

Thanks for bringing this up. It helps newer traders like myself keep things in perspective. I know I should only trade in the opposite direction that the Trin is trending, but with this kind of action it left me totally confused (even more than I already am).

Thanks rickf. I appreciate your honesty and advice. I welcome any other comments from other ET members. I totally agree with your last sentence. I figured if there was a trade calling room out there that both educated and had an undisputable track record you can have the best of both worlds...

Looking for a Trading Room service that makes market calls but uses limit orders for both entry and exit (stop and/or profit) that you are able to put on the exact trade as the moderator. Figured this is just a newbies wish and doesn't really exist. I've been a member of other trading rooms...

Are there any services out there that make live limit order calls and will give you enough time to put on and take off your trade? I am only interested in daytrading and not holding overnight.