IB or Oanda or ????

Quote from late apex:

If I didn't have a trading business to run, I'd gladly point out some of the critical flaws in your reasoning, your thinking process, over the next few days, weeks or however long that discussion might take. However, even if I were able to set aside the necessary time, unless you happen to have a PhD in statistics, an MBA in analytical finance and a couple of decades of experience playing with the quantitative nature of markets, such a discussion might not be fair to you. If nothing else, you might want to peruse acrary's journal, just for fun.

If, based on your beliefs, you are consistently profitable in your trading, more power to you. Then there's no real reason for you to alter those beliefs, is there?
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late apex, please be more specific.

Are you denying the CFTC's oft-repeated warning about trading systems, that "Past performance is no guarantee of future results"?

Are you denying that almost all traders eventually lose and give up on trading, even if they have a temporary period of making profits which are subsequently lost?

Are you denying the CFTC's warning that there is a serious problem with fradulent brokers, especially in the area of so-called "foreign currency trading"? (I say so-called, because there are no foreign currencies involved with such trading in retail spot markets; with few exceptions, retail spot FX customers are actually entering into bets as to how their broker will next choose to manipulate its own quotes, but they are not actually trading foreign currencies or participating in actual FX markets.)

Are you denying that there is a serious problem with compulsive gambing behaviours, especially by inexperienced traders, and that the industry preys upon human weaknesses?

Do you claim to have special credentials so that inexperienced traders should believe your point of view without proof?
 
Quote from jessieblue:

Oh, so that's why you were using those technical terms. So you are actually schooled in trading. I am specialised in psichology myself, but I also took economics courses.

You said you run a trading business. Does that involve coaching? I might be interested in that.

By the way, I knew you weren't making fun of a noob there. I was just kidding. jeez, you americans are uptight :D
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I wish I were "schooled in trading"! Not even close. Don't ever be impressed by anyone using technical terms. None of that stuff is any good unless you've got the right mindset. Psych and econ? could be an excellent preparation for trading.

Nope, don't offer any coaching. It's been a hell of a hard time coaching myself over the years...
 
Am I reading this correctly that IB doesnt have built in stop loss setting for forex trades. You have to set this double bid/ask trigger.

I've used CMS and FXCM and both allow you to set a stop upon entry.
 
Quote from Euchre:

Am I reading this correctly that IB doesnt have built in stop loss setting for forex trades. You have to set this double bid/ask trigger.

I've used CMS and FXCM and both allow you to set a stop upon entry.
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You can set-up a stop upon entry, but the stop is based on double bid/ask rather than on the last price.
 
Quote from Steve_IB:

You can set-up a stop upon entry, but the stop is based on double bid/ask rather than on the last price.
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Hi Steve,

I wish to ask , how do we set profit target and stop loss for Ideal Pro (forex) ?

I see one of the ways is to set the stoploss upon entry, is there other ways?
 
Quote from daentay:

Hi Steve,

I wish to ask , how do we set profit target and stop loss for Ideal Pro (forex) ?

I see one of the ways is to set the stoploss upon entry, is there other ways?
More...

bump.
I have found how to do it .
:p
 
nlslax - My opinion on CMS is I am no longer there because frankly their service is lousy. If you read posts about a forex firm that is down periodically; that in a nutshell is unreliable in the volatile world of forex. Forget trading NFP day even 90 minutes after news. Their C/S was poor when they couldnt even tell you their position bec. they were down. Ok for trading the qqq's not acceptable for spot forex.

Their VT platform is a memory cpu pig.
I run more complex algorithms on amibroker now then when I was using VT and I can easily load 3 years of intrady historical data and the pgm starts in < 10 sec. VT would take 5 + minutes.
Amibroker DRAM 40Mb VT 130Mb +.

I am moving to both IB and oanda.
Currently using FXCM but spread too high.

E
 
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