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Yup, that is right. Flatten Everything either through chart trader, DOM or main interface. I am sure there is probably a hot key too. Don't forget to always have your broker on speed dial and if you have a cell phone only (like me!) then maybe have a hard stop in with your broker for a limit (not all brokers will do it). This happened to me where my cell phone battery was dead and I needed to call my broker. There I was with my face jammed up against the cabinet as my phone was charging to make the call... haha... Doesn't hurt to have them in SKYPE. Or maybe Indian Smoke messages work too... haha...
Yes. Exactly. I had multiple issues personally with ATC Brokers DOM and software a while back. I am glad I recorded the mess as I believe one accident was about 600.00+. I have never had this issue with NT7, but I have read about it so that tells me it wasn't just ATC... I have also had this problem with MT4, but it was because my broker was a criminal. haha.. "Requotes, timed out, blah blah blah!" Server is down for 10 minutes!!!!
Sorry if I gave you that impression. The past doesn't matter, only the present and of course the future as we all want a nice future. So, when you review your day, review it via the control panel. There are lots of beautiful 'tabbed windows' there that will show you what is happening. Spend some time understanding what each of those are AFTER you are done trading for that entire day.
Can you help answer these questions from other members on NexusFi?
Yes it concerns me that if I ever go live I could shut down NT and still have an open position. Fear actually.
I asked this on a different thread but no one had time to answer...At MB Trading, or where ever, if I'm trading
at 3 AM eastern U.S. time for example, is there actually supposed to be someone there to answer my phone call?
Everyone has a lunch time.
Is there supposed to be another MB person to cover their lunch?
If not, MB Trading says at their website that using an iPhone a trader can trade. "trading" on an iPhone
doesn't interest me, but being able to flatten everything would be a back up system. (I think about a storm,
or other event, taking out my electric, phone, and cable simultaneously.)
It is far better to make them live in the Future. Biological necessity makes
all their passions point in that direction already, so that thought about the
Future inflames hope and fear. Also, it is unknown to them, so that in making
them think about it we make them think of unrealities...
Gratitude looks to the past and love to the present; fear... look(s) ahead.
- Screwtape Letter XV (by C.S. Lewis)
{Screwtape, a fictitious character, isn't on our side. But knowing his perspective can
sometimes help. My opinion.)
For me, I would set up something with your broker not to exceed x dollars etc.. Due to the MF Global deal, I will be only setting up a letter of credit or whatever the broker needs through a bank when I start trading my main account again. Otherwise, I will have just a very small amount (few K) into the account to trade with and if I lose it, I lose it.
Per looking at the past, present, future... Very romantic... It depends on your goals for me. If you are speaking about trading, then focusing on the past will kill you as you evolve. When you speak about life, then I agree but life sure is easier when you delay some gratification and plan for your future which is what most people hate doing.
Regarding MF Global, apparently you are concerned any brokerage could fail without warning? (I agree after
hearing about them.)
I don't fully understand: I would set up something with your broker not to exceed x dollars.
Also: I will have just a very small amount (few K) into the account to trade with and if I lose it, I lose it.
So if my trading account is a few K, and I have an open position that goes against me and for whatever
reason the trade is not closed out and days pass,
the absolute maximum that can be lost is what is in the trading account?
I was never really clear on that. Pretty much thought that the brokerage would take the account in its
entirety and then whatever other personal assets, bank accounts, etc. that would be needed to make
everything balance out. Wouldn't that be done in a futures trade?
(Must be thinking of the movie Trading Places where the Duke brothers have everything taken away.
Seriously though, just trying to worst case it all. Always thinking about the worst.)
====================================================================
President of Exchange: Margin call, gentlemen. You know the rules, all accounts must be settled at the end of the day, without exception.
Randolph Duke: You know perfectly well we do not have $394 million in cash!
President of Exchange: Oh, I am sorry.( to his assistants) Put the Dukes' seats on the Exchange up for sale and seize all holdings and property of Mortimer and Randolph Duke.
What I was trying to convey is a large majority of traders trade a lot size of 10,000 or multiples there of. This is fast becoming the "standard" lot size by which traders trade. My broker for example states 1 lot =10,000. When I was with IB it was similar. Standard lot size traded was 20,000 then it went up from there. Point being there are not a lot of brokers who's single lot size =100,000. Most are 10,000 or less.
So, by definition it is a mini, but by how it is used, it is becoming the standard.
SD
As can be seen in the attachments I changed the quantity to 0.1M.
Everything works in a timely fashion and the PnL does update properly when I'm flat.
Maybe my computer is fast enough to handle it. NT does not allow .05M or anything lower
than 0.1M however, which seems odd.
IMO instantaneous probability density serves as a decent mathematical analogue of the "landscape" inside a discretionary trader's head at any moment, and hence may lend itself to short time frame trading by bot.
Now that I've changed things slightly there is a problem.
If I add a target stop to my stoploss and breakeven stops NT has a problem.
First image is without a target stop and second image has a target stop. So Silver Dragon
is correct when he said: However, Replay does not work at all when you have that many contacts while using targets.
I didn't notice the word "targets" in there. My mistake. I've traded in sim with and without targets,
trying different things at different times. Didn't use a target stop lately so everything seemed great
until I added one.