Dow 2007

Re IB:

Minimum to open account is only $5000 or equivalent in GBP (£2500).
As far as evidence of funds is concerned all you need do is tick a few checkboxes saying I have >x years experience and >y amount of money. Whether it's true or not does not matter. Well at least that was the case when I opened an account a few years ago.
 
lurker, if you just want to trade Eminis then all you need is $5000. Altho for other stuff you'll need 25k. I would recommend more than $5k tho as thats the minimum requirement, all you need is couple of bad trades then you're getting margin calls. As the saying goes 'if you can't afford an expensive one, then you can't afford a cheap one' Same logic applies...
 
klw said:
stock price move occurs 25% of the time.

Hi Pat -- Thanks for the info. Exactly what does the above mean please ?


Thanks ..........
Click to expand...

Correct me if I am wrong but I think it means the 500 point MOVE happens 25% of the time. But it may of course be up or down.

The above posts highlight one of the major disdvantages of scalping.
The other is being stuck in front of a monitor for hours on end watching the wiggly lines
 
I'm not trading any more

I don't intend to trade again until I get a direct access account up and running.

My bucket shop have my account on dealer intervention, they appear to be lying about various aspects relating to my account, they are making errors with my account, and to top it all, they seem to think a best execution waiver is a licence to steal.

I think I will make that thread soon, with name of said SB firm.
 
Dow has broken 13000, and where is everyone. I can't trade, and it doesn't appear that anyone else is trading either.

It is so nice to be able to quote a YM price beginning 129 instead of 13X or 14X
 
lurkerlurker said:
We're going for a ride down! 12850 here we come!

Damn, I hate not being able to profit from this!
Click to expand...

I've just been hanging on to my short swing trades m8 @ 1502 on SPX...I'm looking to cover soon expecting a decent size bounce starting tomorrow.....

"shares can go down as well as......down further".....:LOL:
 
on the futures i got off at 13042. I've had over 100pts from YM today, not bothered what happens now. Not interested in the first or last hour.
 
I called the top within 20 tics today, and couldn't trade it.

Is a best execution waiver a licence to print money? Anyone interested in fronting me some cash to run a bucket shop? I think I'd do better at that than trading.

Kevin, well done on those trades. I would have done similar short, but unfortunately I couldn't damn well trade. Looking into an account with IG and Interactive Brokers.
 
If you're conifdent enough with your trading, just stick your hand in your pocket and get the readies out to get an IB account :)
 
lurkerlurker said:
I called the top within 20 tics today, and couldn't trade it.

Is a best execution waiver a licence to print money? Anyone interested in fronting me some cash to run a bucket shop? I think I'd do better at that than trading.

Kevin, well done on those trades. I would have done similar short, but unfortunately I couldn't damn well trade. Looking into an account with IG and Interactive Brokers.
Click to expand...

if you make a call like that then execution a few points away wouldn't hurt too much. I'm not saying you should put up with it, but you can probably work around it. how far away are your fills from your click?
 
Yes TA but not those difficult elliotwave and fib etc. Very simple TA with one and only thing in mind TRADE WHAT YOU SEE NOT WHAT YOU THINK.
 
shortorlong said:
if you make a call like that then execution a few points away wouldn't hurt too much. I'm not saying you should put up with it, but you can probably work around it. how far away are your fills from your click?
Click to expand...

No, I just wouldn't have been filled. They basically let me place an order on the online platform, and then wait between 20 and 40 seconds. While I wait for a dealer to confirm, I do not know if I have a position. The market is moving about in this time. By the time the dealer gets the order, if the market has moved from the price I bought or sold by further than the spread for that market, then I get the trade rejected on invalid price. (so basically if the Dow moves more than 4 points in 40 seconds). However, if the Dow has moved against me by any amount, even 30 points away from my entry at the time when I get filled, they give me the trade. Impossible. (Oh, and if I call up to trade, I get shenanigans which make that impossible too).
 
lurkerlurker said:
No, I just wouldn't have been filled. They basically let me place an order on the online platform, and then wait between 20 and 40 seconds. While I wait for a dealer to confirm, I do not know if I have a position. The market is moving about in this time. By the time the dealer gets the order, if the market has moved from the price I bought or sold by further than the spread for that market, then I get the trade rejected on invalid price. (so basically if the Dow moves more than 4 points in 40 seconds). However, if the Dow has moved against me by any amount, even 30 points away from my entry at the time when I get filled, they give me the trade. Impossible. (Oh, and if I call up to trade, I get shenanigans which make that impossible too).
Click to expand...

that's pretty shocking. why there needs to be humans involved I don't know
 
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