Trade after work -- Trade HSI

1Reason,

IB charges for most markets are less than a tick. Are you converting the currencies correctly?

Don't worry about margin you just have to have enough money in your usd account to cover the number of contracts you trade --- nothing is converted, margin is just a guarantee of your ability to take a risk.

learner
 
Quote from 1Reason:

ET,

Do you only trade HSI or do you also trade other markets in Amercia?

I also use IB and have looked at day trading Asian markets but the costs seem to be much higher (commissions etc..)

I am also wondering about the issue of paying, margin etc.... Do I need to move some money from USD to HKD and whats the cost of moving money back and forth every day (assuming I want to trade both markets with the same pool of money)
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I trade anything that moves.

IB commission is always competitive, there is no need to worry about the cost. I don't think there are much alternatives. It is better to spend your energy to worry about your profits.

Look at my blot. As long as my comm is less than 10% of my gain, I am happy.

No need to convert your US$ to HK$. IB does that for you automatically.

When you made money, IB will automatically convert the HK$ and deposit the money into your base currency. The exchange cost is minimal, and is always a better rate in comparison to other institutions.
 
cmaxb:

Any basic TA would do the trick.

If you are starting out, I would recommend you to overlay the Bollinger Bands on the chart and observe the distribution for a few weeks.
(a thorough reading of Bollinger's book is a must if you are to go this route.)
 
Morning session. 30 sec chart.
Bollinger Bands set at 1 Dev and 2 Dev.
You can see the market bounces between the boundaries.

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=1741448">
 

Attachments

Quote from ET99:

another view

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=1741487">
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That chart is pretty. Head and shoulders, double bottom. All sorts of good shit. How do the moving averages work on this future?
 
Quote from kinggyppo:

That chart is pretty. Head and shoulders, double bottom. All sorts of good shit. How do the moving averages work on this future?
More...

I posted this chart on the first page of this thread. The moving averages look trackable.

<img src="http://elitetrader.com/vb/attachment.php?s=&postid=1679807">
 
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