It's YOUR Choice

[BBB]

I believe they did!

And goog ol Ozzy did Paranoid! Ring any bells?

If I were you, I'd get out of any trade as soon as hope enters the equation. They say scared money is lost money!

It's your money, but I'd ge out of that one now if you fell uneasy with it - win or lose. If you do lose, at least learn from where you went wrong. The losses are where you learn most in my experience.

Good luck!

 

[peedee]

HOPE AND FEAR! BBB, im hoping my fear will go away!

 

[peedee]

Dont worry be happy! Seriously though! im quite comfortable with whats going on, i personally believe it depends on an individuals own technique and style. Cheers! Peedee.

 

[BBB]

lol...

It wont, it just gets worse! Then (if you're trading futures) you find you no longer have the margin to trade your size - or even worse you get a margin call!

Have you thought of a spread (if your long that future, take a short in the a back month). My spreads knowledge is a bit rusty now, but I used to do a lot of it. Its a way of hedging a position where you aim to profit from the increasing differential between the contract months.

 

[BBB]

Oh yes - the required margin for a spread will be a lot less to. MAke sure you plan the scenario and possible outcomes first though. It could be messy if both legs go againt you! (rare, but not impossible!) If you dont feel comfortable with the concept, stay clear.

 

[peedee]

I use spreads at the moment and to tell you the truth BBB the question i would like to ask is ... would i benefit using IB NasFuts as oppose to SB Futs. I would probably put myself in the swing catorgary style?

 

[BBB]

???

Do you mean SB - Spread Betting IB - Internet Brokers??

I've never done much with spread Betting to be honest so I wouldn't know much. They seem to be a bucket shop in my opinion

IB - They seem to be popular on these boards, but I've read about horror fills and poor customer service with them.

Man, GNI, GHF or Refco may be better. Which ever you use, learn about the different memberships of an exchange (member, clearing member, non public order member etc as far as LIFFE is concerned). You will probably find that the best service will probably come from those brokers who do their own clearing. Otherwise there will be delays as your order propagates through 3rd party systems for risk profile etc before it hits the market.

Depending on your finances, you could also consider trading in a bureau (see the LIFFE web site for contact details STA, Candlestick etc) These are basically day trading firms who provide you with a professional trading platform or desk where you can learn from more experienced traders. They do charge about £1k per month though, and their style does tend to be volume based/market making. You can trade ANY market from there.

 

[peedee]

BBB, charge a K a month is that specific for just trading with them?

 

[BBB]

Yep. £500 for the desk, £500 for a subscription to cqg quote/charting platform (see cqg.com). They tend to use a proper broker though with heavily discounted commissions (eg £1 a side).

They tend to be filled with ex brokers and institutional traders who have been made redundant, ex-locals like my good self, day traders and graduates who they recruit to tech how to trade and when they become profitable on a small account become customers.

Personally its not for me. I'm not a day trader and dont want to be at the moment. MAy be a good environment in which to learn if you have designs on volume trading. If you're happy swing trading then it's a waste of time joining.

My thoughts are that if you are on the learning curve and like swing trading then become proficient in that. Then, if you want, you can take your skills down a time trame if you want. It's personal preference. Dont think for a minute that all the best traders are day traders. Its not true. Its more a function of personality in my opinion. I know plenty of people (locals mostly) who have lost their houses through over trading trading simply because they get a head of them selves and try and run before they can walk.