ES Journal Archive (2009 - 2010)

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Quote from Pekelo:

I got it from another website. Just curious, but what are the requirements? If they are too strict, it might as well be illegal... :)

Most CFD broker opens an account for you with 100-200 bucks down, no question asked.

P.S.: I actually read it on 2 different websites that CFDs were illegal in Canada, but if untrue, sorry for the missinformation. Also, sorry for carring about Canada... :)

Edit: According to Interactive Brokers:

"CFDs are derivative products denominated in multiple currencies and are available to non-US/Canadian residents."

http://www.interactivebrokers.com/en/trading/pdfhighlights/PDF-CFDs.php?ib_entity=llc
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The law is very confusing indeed. In Canada, financial security issues are enforced at provincial level, not federal. Thus brokerages must seek approval from each province separately for offering new financial products.

I remember that 2 years ago, CFD is available in Ontario and Quebec only (2 provinces like states in US for those who do not know about Canada). Not sure if other provinces have opened the door or not for their residents by now.

The requirement is that you must be an affluent investor, whatever the going definition of that at the time of application.
 
Quote from Pekelo:

I actually saw this forming on Thursday, but for some reason I disregarded it. Perfect math...

I expect Monday to be at least 10-15 pts down....
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To fill the gap below. =)
 
After reading a TA book, I took a trade I believe that the author would have supported. This was a long trade.

I used standard risk vs reward. To try to prevent me from taking profits early, I was watching Hulu.com to take my mind off of the trade.

However, I did finally look at the chart. I thought I saw a line in the sand that was not there before I stated the trade, and ended up killing the trade for a profit but not waiting for my target. I will review either later tonight or Monday if my target would have been hit if I did nothing.
 
Quote from oraclewizard77:

After reading a TA book, I took a trade I believe that the author would have supported. This was a long trade.

I used standard risk vs reward. To try to prevent me from taking profits early, I was watching Hulu.com to take my mind off of the trade.

However, I did finally look at the chart. I thought I saw a line in the sand that was not there before I stated the trade, and ended up killing the trade for a profit but not waiting for my target. I will review either later tonight or Monday if my target would have been hit if I did nothing.
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OW, whether the market would have reached your target on this particular trade is irrelevant. If you have backtested your system, the proper action is to stay put, regardless of the outcome on a given trade or small cluster of trades. If you have not backtested your system, then the proper action is... well, you know.
 
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