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-----Original Message-----
From: khanitha <charlie@xxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: 02 September 1998 03:59
Subject: $2600 to...Very Thought Provoking.....from Hawaii
Hi Gary, really enjoyed your posts to date.......!! I find it difficult to
understand, though, why you would ever want to manage OPM (other people's
money). Reading between the lines of your messages I get the feeling that
you're a bit of a Gann fan. Am I right?
I'm on the edge of my seat waiting to see how your trade turns out. I think
Gann would have said; 'Never let a profit turn into a loss'. I know this is
a problem I have. I've lost count of the number of times I have let the
profit slip through my fingers..!!
I do not agree that this is the 'opportunity of the decade'. Just another
series of price movements that can be traded.
>Listen, one BIG mis-interpretation on your behalf (peter). That is, I do
>NOT trade options, i too am a futures trader, in fact, i have not touched
>an option (not even futures options) or stocks/stock options since probably
>1993 ! I thought i explained that in one of my posts BEFORE i ever even
>considered the "oex".
What's wrong with being a futures and options trader? Think of the poor
devils who are managing OPM; always having to decide on asset allocation and
reporting to investors.... What a bore. Wasn't Gann an independent operator?
>My point was and is this: IF we got a decent crash,
>why sell spooz or mini's??? especially considering you have to have some
>type of stop right? How many of you tried to catch this down-drop but got
>"stopped-out", or got scared for a potential countermove, or worse yet,
>got a margin call ! Also, my total risk was ridiculously low !!! HELLO ???
>I "anticipated" this move and therefor planned properly ! Even if you had
>only $2,600 or even 5k, you would of shorted just 1 little e-mini, now
>let's say you did NOT get stopped-out at ANY point of those 2
>weeks.....which is highly, highly, very highly unlikely.
Surely, trading in futures and options is all about using the right
instrument in the right circumstance?
>Digest these points thoroughly. Here it is an "opportunity of the decade"
>and what did you walk away with and how did you cope those 2 weeks. Again
>BEST case on your one mini: maybe you caught 20, 30, 40 handles, or 50,
>i'll give you 100 !!! you caught 100 handles then covered. Did anyone you
>know on real-traders or any-one you know with brokerage statements next
>month prove they did??? Even if you find some-one the % will be extremely
>rare, right?! o.k. your 2.6 to 5 k was risked and got all 100 handles that
>gives you only a 5k profit. Because i did NOT use Hindsight , and planned
>accordingly i knew that the "oex" would give me more bang for my limited
>buck !
>That's what i did. makes sense now, right?
>gary
>hawaii
In another of your posts I thought you said you would dump your puts and go
long this week? Looks like we're due for a few days on the upside doesn't
it?
BTW Avoid getting hooked on OPiuM (get it). Drugs can be addictive but are
not usually beneficial.
Richard
UK
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