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[realtraders] BEWARE OF ONLINE TRADING! {02}



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<DIV><FONT size=2>Perhaps a tool for every use. I've traded on-line for 4-5 
years, futures on-line for around two years. I don't trade on-line to save 
money, I trade on-line because I don't trade lots in any pit big enough to 
justify my personal direct to floor broker phone and I don't like talking to 
busy, harried, and sometimes rude futures order desks. In short, I work my own 
trading plan and I want no advise or psychological interference from an order 
desk. The software&nbsp;keeps track of my orders, allows me to "park" planned 
orders well in advance of use, "park" stop loss orders to be fired immediately 
upon receipt of a fill notice, and provides a daily e-mail recap with my open 
positions and orders. In most cases the electronic system will get an order to 
the side of the pit faster than picking up a phone and dialing the order desk. 
In most cases the fill report will be a little, but not much faster, than 
waiting for a fill report by return phone call - notifications out of the pit 
are still handled by clerks. In the case of fully electronic traded futures 
(globex based e-mini and&nbsp;currencies), executions and fill reports will be 
virtually instantaneous.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>All of this electronic convenience does not mean that I don't 
keep accounts open with two brokers both of which provide phone desks to backup 
the electronic system. Those backup desks are on autodialer and I have yet to 
experience a significant loss due to electronic system outage. Generally, while 
the electronic futures orders systems have a long way to go, they have improved 
a great deal in the two years I have been using them. I keep a file of system 
outage notices which was collecting huge numbers for&nbsp;over a year through 
last spring, however I have a total of 9 outage messages for the past six months 
which is a major improvement.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>A year ago I was a vocal critic of LeoWeb and the TOPS 
outages, however I continued to use it as a backup system while using a number 
of others. I continue to use it to this day and it has steadily improved in 
small but import ways and I would recommend it for consideration by those 
looking for an electronic order system. Generally, I have found browser based 
order systems to be disappointing. I also continue to recommend the Interactive 
Broker Trader's Workstation&nbsp;for e-mini day trading, however I would 
consider a backup account with another broker to be essential even though IB has 
added emergency phone backup.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT size=2>Earl</FONT></DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A href="mailto:gmkramer@xxxxxxxxxxxx"; title=gmkramer@xxxxxxxxxxxx>Gary 
  Kramer</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  href="mailto:realtraders@xxxxxxxxxxxxxxx"; 
  title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Wednesday, November 17, 1999 2:30 
  PM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> [realtraders] BEWARE OF ONLINE 
  TRADING! {01}</DIV>
  <DIV><BR></DIV>
  <DIV><EM>Although I have touted the benefits of several online firms on this 
  forum, I<BR>retract them all!&nbsp; As of today, I have closed my emini 
  account and am<BR>opening an account with RJ Obrien to trade bonds the old 
  fashioned way!&nbsp; i<BR>cant tell you the frustration of trying to enter 
  trades and having the<BR>system hang, being in a trade and not being able to 
  get out because of<BR>probs, or not knowing whether you are in a trade or not 
  because of system<BR>problems!&nbsp;&nbsp; I have lost lots of $$$ because of 
  these problems and cant count<BR>the amount of $&nbsp; I could have made had I 
  been able to place trades.<BR>Etrading has a long way to go!<BR><BR><BR>And 
  What a Surprise that Globex2 fails towards the end of today!</EM></DIV>
  <DIV><EM></EM>&nbsp;</DIV>
  <DIV><EM><BR>--<BR><BR><BR><BR>Gary Kramer<BR>1-877-866-9761&nbsp; (Voice mail 
  and Fax)<BR><BR><BR><BR>--<BR><BR><BR><BR><BR><BR></DIV></EM>
  <DIV><EM></EM>&nbsp;</DIV>
  <DIV>&nbsp;</DIV>
  <DIV><EM><BR></EM>&nbsp;</DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Wed Nov 17 17:20:26 1999
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Message-ID: <003701bf3161$a45eacc0$480852d8@xxxx>
From: "Randall Kurzon" <rkurzon@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
References: <001801bf307a$6dd3be80$64c356d1@xxxxxxx>
Subject: [realtraders] GOsc {02}
Date: Wed, 17 Nov 1999 20:10:02 -0500
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Status:   

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<DIV><FONT face=Arial size=2>I took the time to reply to your request for the 
messages you mention below yet you have not replied to let me know if that is 
what you were looking for. I suggest that anyone asking for a list member to 
provide files, historic data, or anything else should have the simple courtesy 
to say yes I received it. I don't know how many times I have sent data or other 
info to people requesting it and then never hear a word from them. I 
don't&nbsp;live for the thanks but after a while it gets to the point that there 
is no interest in helping anyone.</FONT></DIV>
<DIV>&nbsp;</DIV>
<DIV><FONT face=Arial size=2>Sincerely, Randall</FONT></DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  <DIV style="FONT: 10pt arial">----- Original Message ----- </DIV>
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><B>From:</B> 
  <A href="mailto:mpspencer@xxxxxxxxxxxxxx"; 
  title=mpspencer@xxxxxxxxxxxxxx>mpspencer@xxxxxxxxxxxxxx</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  href="mailto:realtraders@xxxxxxxxxxxxxxx"; 
  title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Tuesday, November 16, 1999 
  16:34</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> [realtraders] GOsc {01}</DIV>
  <DIV><BR></DIV>
  <DIV><FONT color=#000000 size=2>I've recently switched over from digest format 
  in order to receive charts intact.&nbsp; The posts on the GOsc have caught my 
  interest, but unfortunately, I have missed most of the preliminary discussion 
  that would allow me to fully comprehend what's going on.&nbsp; If anyone could 
  repost some of this info, or send it to me directly, it would be most 
  appreciated.</FONT></DIV>
  <DIV><FONT color=#000000 size=2></FONT>&nbsp;</DIV>
  <DIV><FONT color=#000000 size=2>Many thanks,</FONT></DIV>
  <DIV><FONT color=#000000 size=2>Michael Spencer</FONT></DIV>
  <DIV><FONT color=#000000 size=2><A 
  href="mailto:mpspencer@xxxxxxxxxxxxxx";>mpspencer@xxxxxxxxxxxxxx</A> 
  </FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Wed Nov 17 17:20:40 1999
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From: NolteArch@xxxxxxxxx (rick nolte)
Date: Wed, 17 Nov 1999 20:11:16 -0500 (EST)
To: <realtraders@xxxxxxxxxxxxxxx>
Subject: [realtraders] BEWARE OF ONLINE TRADING! {02}
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In-Reply-To: "Gary Kramer" <gmkramer@xxxxxxxxxxxx>'s message of Wed, 17 Nov 1999 15:30:45 -0600
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Status:   

Gary,
The telephone is still GREAT technology.
Online is fine in "quiet" market times, but  for this novice stock
trader another 5 bucks for an almost instant confirmation is well with
it!
Good Trading,
Rick

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From: "Gary Kramer" <gmkramer@xxxxxxxxxxxx>
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Subject: [realtraders] BEWARE OF ONLINE TRADING! {01}
Date: Wed, 17 Nov 1999 15:30:45 -0600
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<DIV><EM>Although I have touted the benefits of several online firms on this 
forum, I<BR>retract them all!&nbsp; As of today, I have closed my emini account 
and am<BR>opening an account with RJ Obrien to trade bonds the old fashioned 
way!&nbsp; i<BR>cant tell you the frustration of trying to enter trades and 
having the<BR>system hang, being in a trade and not being able to get out 
because of<BR>probs, or not knowing whether you are in a trade or not because of 
system<BR>problems!&nbsp;&nbsp; I have lost lots of $$$ because of these 
problems and cant count<BR>the amount of $&nbsp; I could have made had I been 
able to place trades.<BR>Etrading has a long way to go!<BR><BR><BR>And What a 
Surprise that Globex2 fails towards the end of today!</EM></DIV>
<DIV><EM></EM>&nbsp;</DIV>
<DIV><EM><BR>--<BR><BR><BR><BR>Gary Kramer<BR>1-877-866-9761&nbsp; (Voice mail 
and Fax)<BR><BR><BR><BR>--<BR><BR><BR><BR><BR><BR></DIV></EM>
<DIV><EM></EM>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV><EM><BR></EM>&nbsp;</DIV></BODY></HTML>
</x-html>From ???@??? Wed Nov 17 18:11:07 1999
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From: NolteArch@xxxxxxxxx (rick nolte)
Date: Wed, 17 Nov 1999 20:31:37 -0500 (EST)
To: <realtraders@xxxxxxxxxxxxxxx>
Subject: [realtraders] As I Ponder {03}  Stock trading/investment {01}
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In-Reply-To: jerry ross <jerryr@xxxxxxxxxxx>'s message of Wed, 17 Nov 1999
	14:13:09 -0800
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Status:   

Jerry,
Spoken like a Pitbull! Sell for a profit with enthusiasum. I like the
"free trade" approach, selling half my position on a 100% gain, thus
holding the other half with no basis. Kind of like trading into an
investment . Works well in the current bull market for me.Incidently, I
look at weekly charts on stocks for various technical signals. 
Trade Well,
Rick

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Date: Wed, 17 Nov 1999 14:13:09 -0800
From: jerry ross <jerryr@xxxxxxxxxxx>
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Subject: [realtraders] As I Ponder {03}
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I agree, the time frame is not related to trading success, but it
influences trading style. Indicators and systems tend to work best on
the short time frame.  Fundamentals, company selection best for longer
term traders.  Buy and hold only need be in when market advancing
continually. Many small gains compounded often are more lucrative than
the one larger gain encountered infrequently

P.S.  Mark, I like you logo -- mind if I use it
 		.oİş°¨¨°şİ>>[ JERRY ROSS ]<<İş°¨¨°şİo.

Alexander Levitin wrote:
> 
> Dear Pondering Mark,
> 
> Is time frame traders choose correlated to the amount of trading capital?
> 
> If what we know (from the books) about "great" traders is true then - no.
> There are traders with substantial capital that trade short term (on the
> floor) and there are traders with large capital that trade long term (Mr.
> Baffett).
> 
> The time frame (in my opinion) correlated with trading style, the trading
> style correlated with so called "psychological" make up of the trader (the
> "personality" of the trader) even nobody knows what it means. The trading
> style also influenced by the "education of the trader" (how he/she get
> started to trade and how he/she progress in it).
> 
> The capital of the trader is derivative of the trader's success. Trading
> business is such that successful trader increase his/her capital very fast,
> and if the success is "systematic" (result of the trading approach) as
> opposite of the "luck" then capital stays large and continue to grow (in
> slower pace, understandable). On the contrary, the trading capital
> disappears with the speed of light if the trader received it through the
> luck either in trading or in other walks of life (inheritance, sale of the
> previous business, etc.)
> 
> There are a specific problems to each trading time frame and different size
> of trading capital. Also the "betting success average" (number of times the
> trader is "right") presents specific set of problems.
> 
> There is nothing more important in traders life then "money management" (or
> give that field any other name). No amount of "greatness" (Jessy Livermore)
> could save you without it.
> 
> Opinionated Alex.
> 
> At 11:21 AM 11/16/99 -0600, Mark Brown wrote:
> >  ... Do you think the correlation is between looser in the
> >   market  and the time frames in which they follow? In other words do
> >   you  think  that smaller time frames observed = less money made? Do
> >   you  think  there  are any correlations between the amount of money
> >   put  to  risk  vs  the  amount  of  money made?
> >
> >   I  have observed the following samplings of data. Less money = less
> >   risk tolerated = less winners = faster depletion of trading capital
> >   =  less  experience = more obsession with every tick of data = more
> >   concern  for  commission cost = more enthusiasm for the passing new
> >   guru  of the day = willingness to listen to the pro's warnings (who
> >   say  this  business  is  much harder than the magazines lead you to
> >   belive)  only  after  the  money's  gone and the day job is back in
> >   everyday life.
> >
> >
> >
> >--
> >
> >.oİş°¨¨°şİ[ WWW.MARKBROWN.COM ]İş°¨¨°şİo.
> >

--