You have no evidence that my trading practices constitute gambling, nor anything remotely near it. I exercise far greater continuous control over my risk than you "swingers" or whatever your trading strategy happens to be. I would tolerate up to a 50% increase in the cost of doing business, but when IB doubles it, with little or no defensible justification then at least I will complain. Now, for your next smart comment?
Fair is fair. It's a fair gripe, and we should accept that. It's also a fair position on IB's part -- the risk is of being less competitive and losing some customers. However, I will nitpick the statement that it "doubles the cost of doing business." It doubles the capital required to hold the same positions, but not the cost of doing business. It adds maybe... 11-13%? (The market cost of high yield debt to borrow the additional margin required.) Expensive but much cheaper than 100%.
Calling that a doubling of your costs is about the dumbest thing I've heard in the last 5 minutes. You have lots of company in the world and theres no end to idiocy. "You have no evidence that my trading practices constitute gambling, nor anything remotely near it." And what evidence is there that you do not gamble , and even if you don't that you won't do so in the future?
Trading is a business for me, not a hobby. Double intraday margin cost is doubling my cost of doing business at a given level of profitability or rate of return. My trading decisions are not based upon guessing, and risk control is extremely important. 'Nuff said.
FutureScalper I totally agree. As a Future DayTrader for (10+years), I wonder how successful the people on ET that think its gambling or don't understand ROI.
I think it is to be expected that they don't know what we do, because they may lack the tools or desire to work on the timeframes we use. And they may also feel, as many traders do, that trading is largely "guessing". As you know, if your business is based upon "guessing" you'd better get a job in the Carnival. FS I thought I was losing this one, until you chimed in ha
Well then big man, I imagine that every cent you own is always in play on a futures contract of some kind? No? Take some of that money out of the mattress, cd's, your piggy bank, and quickly send it to IB to double your account. Then you'll be right back to where you were before the heinous margin increase that seems to be upsetting you so much. We all realize that you are a serious pro, in full control of every penny at all times. Punks like LTC and recently those noobs at Bear, they can't hold a candle to you. Too bad IB doesn't appreciate your greatness like I do. ;--------) PS where were ya before Aug 2007.
I've stated my case. You've stated yours. I will refrain from saying anything more about the intraday margin situation. Thanks. FS