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In regards to the post about Day Traders losing. I give you the follow one
trade I did, Monday, July 19, 1998. This is NOT hypothetical results.
This is an actual trade with real money put on the line.
Commodity: Currencies (The Dollar Index)
Software Used: TradeStation 4.0
"Day Trading Margin" Requirements per Dollar Index (DX9U) contract: $600 ea.
Each point represents: $12.50
Amount of contracts sold: 10 (ten)
Margin cost to do this: $6000 (compare that to 1 S&P at $8-10,000 for a day
margin)
Average Short Sale Price: 104.85 (9:45 - 10:37 CST)
Average Offset Price (when I liquidated): 103.82 (11:29 - 12:14 CST)
That is a difference of: 103 pts.
Total Point gain: 103 pts. per contract x 12.50 x 10 contracts = $12,875
profit
Total Time to do this: Less than 2 hours
For everyone's info:
Daytrading Margin Requirements for the following
US DOLLAR $600 ($12.50 pt)
JAPANESE YEN $1050 ($12.50 pt)
DUETSCHE MARK $400 ($12.50 pt)
SWISS FRANC $700 ($12.50 pt)
CANADIAN DOLLAR $312 ($10 pt)
Can anyone say great leverage!!!!??
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