Recent content by LondonUSTrader

Sometimes I move to different countries. Normally this is not a problem. Most brokers simply accept your change of address notification without giving you further hassles. However, I have now discovered that optionsXpress behave in an outrageous fashion if you move to Australia/New Zealand...

You make a valid point. I once heard of a very successful forex trader based in Sydney who applied similar concepts. His entire edge was his risk management model. In fact, he even made his entry decision by buying newsletter recommendations and then managing the positions. His thought was...

It is a valid point, but most traders don't begin with capital of at least $100k, which this way of trading would require. If you have the capital I agree a multi-market futures system is a good way to go.

I would choose forex or fixed income. The guys I know who have got full time trading jobs with IBs after university are either in forex or fixed income. Although the market will probably be irrelevant, you'll just be working as a dealers assistant and that job is similar regardless of market.

A few thoughts: (1) Stop trading immediately and fooling yourself that this is a possible dream in the short run. Becoming a full-time trader usually takes many many years. (2) Save up until you have AT LEAST £5,000 to trade with that you can afford to lose without blinking an eyelid. Your...

I have to say much of the above is quite simply wrong regarding what an edge is. An edge is simply that your trading method gives you a greater probability of making money rather than losing it if you follow your methods correctly over a set sample size of trades. An edge doesn't differentiate...

Edge There are many many edges in the market. Some last a very short time, some last years then disappear, some seem to be permanent. Nothing wrong with guarding your secrets. Actually, I have never known any traders who have real sustainable edges to give them away. They may tell you...

Simple research on companies before dealing with them would avoid many of these problems. If you had done your research on Hoodless before opening an account you would realise they were a firm you should not be dealing with. If you go to the FSA website and access the register of firms it...

Boiler Rooms A simple rule of thumb will avoid many problems with boiler rooms. Do not deal with anyone based abroad and not regulated by the FSA.

Thanks for the advice. Anyone who trades these markets should be aware of the risks involved. I don't have a problem with being caught in a lock limit move if it happens because that is the nature of the risk in the market I am trading. When I enter an order I realised that is a possibility...

Lumber I was looking through the IB latest product offering. I see finally IB offer open outcry traded US futures. However, at glancing through the CME open outcry markets I noticed you still don't offer Lumber. This must be one of the only open outcry markets you don't offer. Why is...

I thought it was one of the better articles. He is absolutely correct to focus on expectancy and probability.

Hmm...seems rather pointless when I can get 5.75% in my bank account.

One of the first books I read on the stockmarket and trading was Stan Weinstein's Profiting in Bull and Bear Markets. A classic. After having read over 100 trading books since, still one of my favourite books on trading and the stockmarket.

Discipline is no edge. You can be the most disciplined trader in the world trading something that has a negative expectancy and guess what you will still lose!