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Trading Reference Links
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All new traders should be aware that the IRS only allows $3,000.00 per year
of losses to be taken off your taxes, the remainder must be carried forward
to the next year. No commodity broker will ever tell you this. If you lose
$30,000. It will take you 10 years to write that loss off (3,000 per year
for 10 years). If, however, you make 30,000 you will have to pay taxes on
that gain the year it is made. Happy trading.
----- Original Message -----
From: cb <cpbow@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, February 22, 2000 8:51 AM
Subject: [RT] Re: GEN: Boiler Rooms
> It appears that boiler rooms operate in the commodity arena also.
> Bottom line is always the investor is responsible for his/her decisions
> I guess, but when you take one of these courses that fills your eyes
> with $$$ and then sign up with the brokerage firm of the guru who makes
> like he cares about the little guy, I suppose it's easy to be duped.
> No, they aren't selling fake securities, but they sure seem to be churn
> + burning in this case.
>
> Conrad Bowers
>
> begin quote
>
> Posted By: Richard <email deleted> (spider-wl064.proxy.aol.com)
> Date: Monday, 21 February 2000, at 10:34 a.m.
> In Response To: Who charges the least for buying
> options? (chuck)
>
> I don't know about the least,but Main Street Trading Co. might be up
> there as one of the most expensive.I opened an accountwith 2500.00 and
> at the suggestion of my broker,"just to get my feet wet",bought 4 March
> Corn 280 call 1 1/8 entry, 4 March Cotton call 7500 .14 entry, 2 May
> Cocoa call 1200 46 entry.The commision was 95.00 each option. Now that
> my 2500.00 is about gone with almost half to commisions, I felt rather
> pressured into these trades and am angry with myself for trading before
> I was ready. Not enough knowledge and didn't do any paper trading, what
> was I thinking? Anyway, I don't really know but I think MAIN Street is
> high on commission.
>
> Posted By: Richard <email deleted> (spider-ta052.proxy.aol.com)
> Date: Monday, 21 February 2000, at 2:17 p.m.
> In Response To: Re: Who charges the least for buying
> options? (cb)
>
> Thanks for the advice. 12 months of study and saving sounds like a good
> plan.I opened that account last August 10th and thought my plan was to
> listen to KR alertline, study charts and papertrade. That was until
> September 29th when I returned this brokers phone call.At that time he
> recommeded not 4 but 6 corn and 6 cotton.I came back with 1 or 2 of each
> and he laughed saying that was not worth doing.It needed to be at least
> 4 or 6 each, so I SAID 4. I don't really mean to complain about it since
> I agreed to the trades. Also after one gives a broker a order is it
> usual for the broker to tape record it?
>
> end quote
>
>
>
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