Recent content by davidc123

thanks guys. my reason for not taking the trades today was I mistakenly presumed the fx market would be dead on a uk bank holiday in london hours, and full of false signals... saw how wrong i was all day long so decided to take a perfectly fine trade that turned out to be a loser. that's just...

I spend all day watching charts and calling many great trades that would be very profitable. However I only take 10% of my calls at most, and the trades I do take rarely win. For instance today I called 6 trades. 5 of them would have given me a 36% increase on my account in total, 1 would have...

Thanks that's exactly the kind of insight i was looking for, sounds like it was an easy choice for you. I've set myself a monetary target to reach by the new year, but if i'm honest i still have some work to do on the mental side. I handle winners and losers just fine, but i need to work on...

Hi all, I've reached that point where I'm seriously considering taking the plunge and switching career to full time independent trader. I'm sure there are traders here who have been through this so I'm wondering if anyone can give me some info on what it was like for you? My situation is that...

In the account window of TWS, there is an option called 'Close all non-base currencies' in one of the menus (can't remember which one). It's an fx trade so incurs a fee, so I usually just do it at the start of the month.

GJ, I'm new to forex, I've been trading for quite a while so I'm more concerned about getting details like this ironed out before I take forex more seriously. I'm not talking about hedging the rate on the p/l - i don't care about that. I'm talking about the inital GBP I pay to open the trade...

I don't get how it wouldn't be worth the hassle - for me the amounts are small but my exposure to GBP.USD would be the same as that of USD.CAD, so any profits in USD.CAD could easily be wiped out by a negative turn in GBP.USD. Anyway the solution for me is to switch broker, which I'm doing now...

In the example I gave, I'm speculating on USD.CAD but also exposed to changes in GBP.USD. I was asking do you hedge the GBP.USD exposure by taking a GBP.USD position to lock in the exchange rate at the time of opening the trade, so that when I close the position any changes to GBP.USD wont...

Thanks Rhody Trader. Who do you trade with? I'm trading through IB and they definitely work by doing an fx trade to get some cash in the base ccy of trade, then performing the trade. Same goes for stocks - I trade any USD stocks, then my GBP cash gets traded into USD first before buying the...

Hi, I'm just getting into spot forex trading, and I'm just wondering how people manage a trades exposure to fx rates between account ccy and the trade's ccy? i.e my account is gbp but I want to trade USD.CAD. To open the pos, my GBP gets traded into USD, which gets traded into CAD. USD.CAD...

Am I missing something here? How does anyone manage their risk effectively when you can't always put a stop at the level you want? What do you guys do to get around this?

well I gave it a go.... didn't work. I ended up with a long position and short position, and needed to close both incurring extra slippage + spread fees.... What a ballache. Can anyone explain why they have minimum distances from the market on stops attached to positions? Are there any SB's...

Hi, I'm looking into spread betting and I've got a very basic question on closing positions that I just want to be sure of before I do it... IGIndex let you attach a stop to a position, but it can't be within a certain amount of the current price. So I'm wondering if, say you were long...

If you just want to be able to code up your ideas quickly and see if how they work, definitely choose C#. It is much more flexible, has much better support for integration with other systems, and will be easier for you to use. If however you'd like to actually become a good programmer and make...

thanks for the clarification