Tuesday, July 7, 2009

Sorry for lack of updates!

A ton of stuff going on guys! I've been building the new website and its coming together great. But i'm such an anal retentive freak everything has to work just perfect and look just right so its taking longer than it probably should've. Right now the entire site is built and functional with content, galleries, newsletters, blogs, etc but I just started the actual members video content today and am only about half way through.

In other news i'm also migrating accounts back over to MBT. I'm starting a little thing for the website called "Project 400". I'm going to see how quickly I can double a 400.00 account on 10k lot sizing. So i'm not actively trading this week as the funds get pushed around from account to account.

I figure a lot of traders don't want to use a ton of capital to start trading and building a small account like that with relatively tame leverage and margin would be something worth showing.

Hope you all are still trading great! I can't wait to get back to the charts... way to many tasty moves in everything right now!

Cheers!

6 comments:

daytrader233 said...

Good luck Matt! Great to see you're still at it.

Syed Omar (Hilmy) said...

i always feel mbt commissions are a bit high for forex. great spreads though.

E-Mini Player said...

I still can't believe you're gonna be a market "guru"...we used to joke around about that stuff LOL

Either way, best of luck man! Call me when you're free.

thelastpip said...

Be careful with the leverage. Put on one contract and you're at 25:1. Put on another and you're up to 50:1. It can work, just be careful with the stops as you don't want to get caught with your account bleeding red.

Good luck!

On a side note, FXCM offers micro accounts that let you trade 1k lots. You can average in up to 10k (or however high you want to go with your margin) or hedge with another currency pair. Their spread can get a little wide during down hours, but when I've traded with them I typically get 1.7-2.3ish. No commissions besides that.

Just a thought as I'm finding it a little easier to not have too much leverage.

Take care.

Matt said...

Thanks Guys!

I agree that I would prefer not to pay comissions with MBT but as I was trading the past couple weeks I was noticing that it really would've been nice to be able to get out at the ask without the bid trading through the level, etc... And their spreads are really pretty good most of the time. Not to mention, I already had 3 accounts set up and waiting with them so it was one less thing I was going to have to mess with.

Thelastpip - yea I recognize that one 10k on that size is probably a little heavy so I might start out at 5k sizing or something the first week. The results have to be reasonable and realistic or there is no point. I'm not going to recommend that someone go out and use 400:1 on their account if i'm not going to do it myself.

Thanks for the comments gents!

TST said...

Glad you made it in FOREX.