brownsfan019

I have a few observations: 1) SIMULATION: Simulation trading can be very misleading, esp with scalping and especially with the ES. In order for you to count these trades, you need to assume that price traded THROUGH your exit level, not just tip it. In other words, if your exit is 800.00, price needs to touch 800.25. Same with entries if using limit orders. 2) COMMISSIONS: If you pull this off in real-time, you'll need to get your commissions substantially down. This includes negotiating w/ your broker and also seeing if renting/owning a seat will help. I would guess that if you are trading this much you'll want to at least rent a seat to get discounted rates.

Good to hear Frank! Glad we were able to tackle this situation quickly.

Risk-Reward is one of those things that some live and die by and others can ignore. Both schools of thought can make money and both can lose. With an inverted Risk-Reward it's then a matter of winning %. If that is high enough regularly, then you can make money no problem. It could actually be easier for some to do it this way b/c they are constantly winning, constantly pulling $ out of the market. Of course, a stop out will put a damper on that winning attitude. With a standard Risk-Reward, winning % is marginally important. I am more on this side of the equation currently in my trading. I'm seeing approx a 40% win rate in these markets but getting rather large wins on the winners. That's the tradeoff I am willing to make - reasonable stops with decent sized targets. My stops will more than likely get tripped more than the other scenario, but for me personally it's a little easier to put the stop where it 'should' be and then re-enter if need be vs. putting a large, random stop on and hoping it holds. But your friend can make money at this as long as the winning % is high enough to offset those 20 pt losses. I wouldn't make the assumption it can't be done - it can, but will be difficult at times.

You have to request a Trader Manager status - contact OEC directly. This provides you a different login but allows access to the account. The software is defaulted to not allow the exact same login to login more than one instance. Keep in mind that OEC also works w/ CTA's so I can so where and why this functionality would be used and why it may be called Trader Manager. For the retail trader, it's a workaround to your initial question.

Good news Frank! It can be done. You cannot log in 2 separate times on the same 'main' login; however, you can request a 'Trader Manager' which has the same rights as the main login. In essence you are getting 2 separate logins that can view AND trade on the same account. Important to note that you can trade from it as well if you are just testing things out. To get it set up, send a request to a Client Services Rep.

Hey short, Good to have you. I enjoy talking poker as trading is my 'job' and poker is my 'hobby'. I think if you've played serious poker then you are ready for the emotional and psychological roller coaster that trading can be at times. You'll be ahead of the game in that aspect. One big difference between poker and trading from my view is that as you've stated, you can profile your few opponents at the poker table and exploit that; whereas in trading your 'opponents' are out there and in huge numbers. Just when you think you've profiled them, they will do a 180 on you and make your head spin. If/when you can get what many call an 'edge' in trading, it can be easy (relative of course) to make money in the markets. There is no getting rivered in the markets - either you are right or wrong. A one outer doesn't appear in the markets and kill your trade - again, either you are right or wrong. I don't want to take up this thread any more, so feel free to start another thread if you'd like. I mod the candlestick corner.

On the same account Frank? If so, I'd have to ask. If different accounts, I believe you just log in and go.

I agree, burying this on some health care thing is crazy. Also the reason why politics are not my thing. How they are able to piggyback stuff on bills that have nothing to do w/ the topic is beyond me. For example, the Unlawful Internet Gaming Act was put on an act that was considered must pass but had nothing to do w/ internet gaming... More info on how that happened...

I can't answer the question directly but I remember seeing SMB in one of the Wall Street Warriors series. Seemed like decent guys but can't say much more than that. If you find the series you might be able to get a look at their offices and such (due diligence work).

This link will take you to the OEC broker review page on TL. If you are new, I suggest taking a look to read up on them. If you trade at OEC, please add your comments. The more the better! OEC broker review page on TL

I'll do my best to keep this part of the forum and clean. I'm also going to try to keep the titles of the posts on topic so if you see your thread altered in some way it's probably me attempting to organize topics for easy reference later.

pop - I created a new thread so that the topic (breakeven function) is separated out and easy to find for other readers. Just an fyi.

Try this option:

I tried to move OEC specific posts to this area but let me know if you find one that I missed. I tried doing a search for OEC, open, open ecry and open e cry. Since there's a few variations on the OEC name not sure I found them all.

I hope this doesn't apply to futures trading... Usually the futures are treated separately from stocks. Anyone know if that applies here? No time right now to read the pdf or I'd try to hunt it down myself.

I think there's a simple market out there for taking free sh*t and put it in a shiny box and off you go. :rofl:

I've been trading w/ OEC for some time now so feel free to ask questions and I will do my best to answer them. If I cannot answer them, I will do my best to get the answer.

James - mind as well start an Open ECry one as well and I can do my best to help out there.

I believe Nihabi is pretty much done posting here based on a message I received from him. If you want to reach him, you can find him at elitetrader.

If it moves the market, I'm all for it. :rofl: I could care less if they are real, imaginary, fake, or random. If they move the markets, great for trading. Your handle implies that you are an investor and as an investor I would pay closer attention to these numbers, but you are on a trading forum.

When you say 'intraday' trading, what do you mean? 30 minute charts with 1-2 trades per day or 30 second charts taking 10 trades per hour? The reason I ask is that if you are taking 1-2 trades per day, then I think you can and will have to give your trade more room to work, which means a bigger stop. If you take 10 trades per hour, you better keep the stops reasonable or you will blow your account in no time. In general a 1-2% is what you will read, esp in books; but that is pretty arbitrary. Are we talking about a $5000 account or $500,000? I hate to say it, but the answer IMO is "it depends". This reminds me of a parallel w/ poker playing - when you ask someone how they play AA, the real answer is "it depends". Just asking - how to I play the rockets and providing no other info doesn't cut it. Same here, just asking how much to risk per trade doesn't cut it.

One update here - Avast seems to be a nice program but I had to disable the part of it that scans every webpage you click. My web browsing is pretty limited and it was drastically slowing my browsing down. So if you use Avast, I would suggest turning that part of the software off b/c it brought my browsing to a standstill.

Found the book on Amazon for anyone interested.

On pokerstars. As my post said.

I enjoy playing - online and live. There are similarities between poker and trading; and there are some considerable differences as well. In terms of poker playing, been having fun playing these 'double or nothing' tourneys on pokerstars. 10 person sitngo where the top 5 get their entry fee doubled and that's it. Don't play down to top 1, just top 5. I'm enjoying this structure much better than the standard tourney format.