Baruch's Forex System Journal
- Thread starter Baruch
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Magna
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FX_Cowboy et al, please do NOT discuss companies that are non-sponsors at ET as that provides them free promotion, free advertising (and I'm sure some members of the various firms will be glad to use the opportunity to jump in and tell you how great their company is). First, it's not fair to our paying sponsors, and second it's against ET policy. Thanks.
Commissions are $3.00 per contract per side. What I like about IB is that it is usually very stable (there are occasional problems, but they are very much an exception IMO). I trade IB through a "front end" (Ninja Trader), which costs an additional small monthly fee, but which makes it very easy to use IB.
What I don't like about IB is that it shuts down every night at midnight for about an hour, and while there are some workarounds (inlcuding making an overseas call if necessary to get out of a position, or having your server close at a different time), this is still an irritant for me. Also, the minimum position size is one contract ($12.50 per pip), which makes it potentially expensive to test new strategies with real money.
While I pretty much nailed the top of the EURUSD uptrend (in truth, I thought it would go just a bit higher, so I still had some powder dry in case it got up to around 12315), I completely screwed the pooch by allowing myself to be shaken out of my short position way too early.
In retrospect, it would have been much wiser to keep at least 1/3 of my position at B/E, and let the winner run (as Buk demonstrated last week). Ah well, live and learn... On the brighter side, I made some money, so I'm still a happy camper, and hopefully a wiser one.
In retrospect, it would have been much wiser to keep at least 1/3 of my position at B/E, and let the winner run (as Buk demonstrated last week). Ah well, live and learn... On the brighter side, I made some money, so I'm still a happy camper, and hopefully a wiser one.
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