I was very selective today. Beside the trades I do take I also play other trades in my head - Particularly the ones I'm not sure about. You might call it paper trading but I do it in my head using one tick slippage on entry and exit. On those trades today I didn't faire very well. TM Trader
Sorry for the loss! The market giveth, and the market taketh away. Usually, if you let it, it taketh a lot more than it giveth. Imagine the market as shark-infested waters. Not only is this only too true in the futures-markets, but it is particularly the fact that if you just swim around clueless and get bitten, you're in trouble unless you get out of the water - QUICK!!! Once you bleed, and don't get out, there will be the hammerhead sharks first. Their extended head has ultra-sensitive nostrils that smell blood and prey over very large distances, like over 5 miles I think. The hammerheads will always be the first at a feeding frenzy. As the hammerheads swarm out, the tigersharks and white pointers get the clue, and soon follow them to the party. Once they arrive, you're REALLY in trouble. Now, they come in large quantities, to take out out the swarms of clueless fish by the thousands. And unless you're as big as the big white pointers (maybe 200+ cars on ES), you have no chance even to survive a battle here. Once the feeding frenzy is over and the last drops of blood inhaled, the sharks swim away to different waters (and the trend changes). LSU, do you remember our long talk yesterday morning, just a few hours before all this started? Remember how you told me about crawdads and catfish and I told you about leverage and how you'll really get bitten if you don't scale down and get up your knowledge base first? Well, I don't mean to be patronizing, but perhaps you'd like to now retrospectively reflect on the things we talked about. Best S
man i was about to open my account friday with them ... but u scared me ... i'll wait and see if the problem remains and if oec will solve this fast .. so keep me aware plz.
I will update the journal and report exactly how OEC handles this situation. I have to admint I am a bit spooked at this time. If OEC does not handle this situtation properly, I might be in the market for a new broker. As traders, we have enough forces to fight and have to keep the problems within our control to an absolute MINIMUM. I've heard good things about Refco, so I might check them out. I think their commissions come out to be $4.50 r/t when using their PRO platform. In any case, I will update the journal with my experience. Here's exactly what I'm looking for from OEC: 1. Credit my account for $130 (the amount is insignificant, but it's a matter of prinicpal) 2. Update their platform to route ER2 trades directly to Globex, instead of routing them via Rand, which not only slows down the order, but also adds another layer which can be problematic (like Friday) -Fast