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Subj: Re: GEN - Lifestyles of the Rich & Famous Real Traders
Date: 97-11-06 22:04:36 EST
From: WJame17842
To: TRaffertu
Ray,
I quit my job in 1994, and began trading fulltime. I've switched brokers
three times before finding the right combination of service and fast
executions.
I trade with Harbor Securities, LLC (www.daytrading.net) this is a
professional daytrading firm offering remote access to NYSE, AMEX, and
NASDAQ. Harbor provides access to Instinet, Selectnet, Island and other ECN'S
(electronic
crossing networks) used to make trade before, during or after the market
closes.
Realtime data feeds from S&P Comstock and they will begin a close chat room
to link all seven trading offices and remote traders to discuss stocks and
traders can provide alerts on stocks which may move up or down for profiting
on news events.
I guess the best service they offer is 10 to 1 leveraged margin trading. $
25,000
allows traders to buy up to $250,000 intraday or $125,000 for overnight
trades.
Zero interest for intraday trades. Having access to more capital has allowed
me to grow my capital alot faster than 2 to 1 margin. Of course there is
greater risk with
greater leverage, but I never go above 4 to 1 margin, except on merger news
which is usually predictable.
This firm is a limited liability corporation so if a trader loses more than
the amount a cash in his account (which has never happened) the firm absorbs
the losses up to a preset limit a set by the class A members which are
company investors/owners , any greater loses are shared by class B members
which are traders at the firm.The
firm has been in business since 1995 and now has 6 offices withe number seven
to open this month in L.A. Their web site does not go into great detail but
you can email through their web link or call direct if you are interested.
As for trading I stick to S&P 500, Dow Stocks and NASDAQ 100 stocks and a
select few others which I trade after they go dow a few points with no news.
Market makers usually try to drive down stocks which they consider overvalued
and when they drop enough they come back in and buy some more to profit their
proprietary accounts.
The transition to fulltime trading took me about 18 months once I entered the
markets. The right trading style along with constant research and dedication
to the profession has paid off for me. Good bye corporate America. Good luck
Ray.
William
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