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David, how is it going with Larry Williams' trading seminars in
Australia - still scheduled for June now that he is out on bail?
http://www.smh.com.au/articles/2006/05/23/1148150241879.html
"The fact of life is that he is well-known to the media and therefore,
around the world, as the father of a very famous actress." :D
jose '-)
--- In equismetastock@xxxxxxxxxxxxxxx, David Hunt <adest@xxx> wrote:
>
> Hi,
>
> Firstly, you may think you are not paying Commissions - but if you
> are trading on a 4 Tick Spread in a market where you can trade the
> futures for a 1 Tick spread you are paying a lot more spread than
any
> commission you would pay!! CFDs are really just undated futures
> contracts that can be rolled out for an interest cost. Futures are
> cheaper to trade.
>
> I was speaking with Larry Williams last week for the seminars he is
> doing in Australia and New Zealand and he has been trading a lot of
> Forex and he has found a way to trade Forex without much spread at
> all - says he is having great fun trading forex. Should be real
> interesting to watch Larry Williams trade Forex live at the Million
> Dollar Challenge.
>
> Secondly, if when day trading one needs tight spreads, lower
> commissions and more volatility than normal end of day trading
> markets. Levarage means costs are a little lower for the position
> size but traders need to be able to scratch trades quick - with a 4
> Tick spread scratching a trade is punishing - as it means 8 Ticks
> Spread on Entry and Exit.
>
> If the Bucket Shops (read Reminiscences of a Stock Operator ) hedge
> your trade (if they hedge - because usually they just bet that you
> will lose your dough) using the underlying futures. The marketing
> director of a big Bucket Shop told me a few years ago they worked on
> the stats that 90% of their customers lose, so they just often hold
> the trades their customers give them. Then run their own price made
> market to hit the stops and take their profits when undercapitalised
> and scared customers stop themselves out).
>
> So you are actually better off trading the underlying that the
bucket
> shop would use to manage its risk. Undercapitalised and Smaller size
> accounts could consider the Mini Contracts.
>
> Regards
> David Hunt
> http://www.adest.com.au
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