10 Pips Per Day - Everyday

[cabletrader]

Quote from forex-forex:

Well then trade 50 mini-lots in a $5000 account and pull in $500 a day if it's so easy. When you get down to the math and figure out the potential of 10 pips a day you do have to take a closer look at such claims.

Your 7 day trading record is a start, but you have a long road ahead of you. Good luck.

Oh, and a long road behind me too, longer than I care to remember at times

Good luck to you also.

 

[giles117]

I've needed CS with IB on 2 occassions and I received a response within 12 hours each time...

Nothing major going on here. Unlike a lot of whiners, they never bothered to read ALL the rules/paperwork. Doing so saves you time and mental anguish. When the rare MAJOR issue arises that has them violating their own rules, I can see complaints.. But most complaints are from those who don't get it....

Quote from cabletrader:

Thanks for that, I've saved it and will have a closer look when I'm back at my pc with a decent sized screen. It certainly looks a heck of a lot simpler than what I had set up, and would make position and p/l tracking a lot simpler.

I liked IB, that was the only thing that put me off, that and their customer support!

Thanks

 

[bathrobe]

I have been wanting to move my forex trading to IB for some time now so everything will be concise, I chart using esignal, can I pull up price charts on eSignal using IB pip spreads.
Thank you

 

[Icarus5]

Quote from bathrobe:

I have been wanting to move my forex trading to IB for some time now so everything will be concise, I chart using esignal, can I pull up price charts on eSignal using IB pip spreads.
Thank you

I hear their data feed is notoriously bad.

Just so you know.

I

 

[bathrobe]

Quote from Icarus5:

I hear their data feed is notoriously bad.

Just so you know.

I

who do you use? I was thinking of switching to tradestation for data

 

[Icarus5]

Quote from bathrobe:

who do you use? I was thinking of switching to tradestation for data

For data I use a 3rd party, IQ Feed.

While they are a retail level data provider, I find them to be pretty solid about 99-97% of the time, and they have a number of customized levels of data feed to fullfill the needs of most any retail trader.

The provide their services a la carte, so you only pay for what you need.

I mainly focus on the e-mini indice (in which you most definitely can make $100 per day, everyday ... if you know how), I also have the e-mini oil, ags (corn), eruo and 10 year notes on delayed feed for testing out some longer-term position trading strategies. But that is time consuming and will require quite a bit of automation (which I'm looking into smartquant for), so we're talking a couple of years out to make that happen.

Hope that helps,

I

 

[mister_x]

Some really useful insights in this thread esp. from cabletrader and Lon Eagle. I've just started trading Fx and realize there is so much more to learn. I was never aware of the 'bucketshop' nature of the Fx brokers. Is IB doing something similar to this?

 

[loik]

Quote from forex-forex:

We aren't talking about "billion dollars", we are talking about 10 pips a day. Stay on topic.

10 pips a day on a $5000 FX mini-account will provide a return of $100 a day or about $26,000 a year. $5000 to $26,000 in 1 year? LOL

What about a $100 000 account?

 

[loik]

Quote from forex-forex:

Commodities and currencies have UNLIMTED risk, both long and short positions. You can lose much more than the margin required to open the position.

Probabilities?

 

[loik]

Quote from Joab:

OK,

For anyone that's so inclined heres some evidence.

1.Pull up 4 different forex platforms from 4 different brokers.

2. Put a 5 minute chart of the USD/CAD pair on all of them.

3. Observe the price on all 4 at the same time for at least 30 minutes at 8:30 - 9:00 est.

IF this still doesn't convince you that forex brokers are all rigged then nothing will and I wish you well.

Short-term and how does the fx market work?