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nwinski wrote:
>
> > The moral of the story: Some of our more experienced traders are very
> > generous with some very good advice. New or inexperienced traders, take heed.
> > Nick Pishvanov
> >
> NW: What I found both interesting and disgusting about this article
> is that is the the usual media propaganda that the Wall St. establisment
> wants the public to believe. Why doesn't the SEC issue warnings about
> the volatility and risks of owning stocks? I have seen many stocks
> lose half or more of their value in one day.
> Disgustedly,
>
> Norman
I agree wholeheartedly with what Norm has to say. If one trades for a
week, it will become very obvious that the most voitile future by far is
the one based on our stock market, the SP500. If you payed the full
contract value for a contract of corn or pork bellies, your financial
swings would be the same to much less than your average stock. Futures
just allow you to use leverage and are far supierior trading vehicles.
The concept that they are more volitile than stocks is completely
false. Futures moves as a % of total contract value are tame when
compared to most stocks.
The man in this article is a good example of how people go broke trading
futures. He had no experience, plan, training, and seems to be addicted
to action much like a gambleholic. Certainly, he should be able to
trade circles around the best traders in the world. Why just the other
day I did a couple of brain surgeries, prosecuted a capitol murder case,
went 3 for 4 against Roger Clemens and played Pebble Beach in 7 under.
Why people think they can walk into the futures arena with no
preparation or training and make a fortune amazes me. Naturally, there
are a lot of scams out there that propogate the myth, but I doubt if I
put out an add for a two week seminar guarenteed to put you in the NBA
or enable you to design a retractable bridge, that I would get much
responce. What people need to understand is that trading is a skill
which must be studied, learned and practiced like any other. Just like
Norm, it pains me to see futures painted in such a light.
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