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But would you daytrade the S&P emini? I simply
dont have enough cash to use a sufficient swing trading stop. I have also found
the quality of the fills to be better than stocks but the brokers we have used
anyway have not always been very good in terms of losing fills etc. I have
had raesonable succes paper daytrading the emini S&P off of the pivot
and support lines.
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Norman
Winski
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, November 08, 2001 2:07
PM
Subject: Re: [RT] The SEC just regulated
me out of a job........
Earl, I must respectfully disagree with
some of your statments below. If onetakes small positions in
futures, there is no reason one can not achieve adiferisified porfolio
with $25,000. I also think that most ag futures areeasier to
trade than stocks, as the historical ranges tend to be much
morepredictable. Additionally, I find the fills in futures to be
faster andbetter than stocks. On the other hand, I wouldn't recommend day
trading mostcommodities, but then again I wouldn't recommend day trading
most stocks, asI think it is a fool's paradise and a broker's
dream.Respectfully,Norman----- Original
Message -----From: "Earl Adamy" <eadamy@xxxxxxxxxx>To:
<realtraders@xxxxxxxxxxxxxxx>Sent: Thursday, November 08, 2001 8:26
AMSubject: Re: [RT] The SEC just regulated me out of a
job........> If there is one thing I harp on for new traders,
it is adequate> capitalization and maintaining a conservative risk per
trade profile which> will insure that a few bad trades do not bust the
account. While anaccount> size of less than $25,000 may be adequate
for some modest trading instocks,> it is not adequate for trading
futures unless one has a pool ofsubstantial> liquid assets which
can be immediately re-deployed to the futures account.> Secondly, the
prudent trader will risk no more than 2-3% of account sizeper>
trade ... and one must keep in mind that sudden moves combined with
high> leverage in futures can blow a trade right through the stops and
blow out> the account. Just recently bond traders were treated to
a near> instantaneous $2,500 per contract move which blew through
stops.>> Finally, I would mention that trading stocks is a
simpler task thantrading> futures. While the emini are most similar
to stocks, agricultural and> industrial futures contracts are an
entirely different animal and are notas> well regulated as stocks
... in many cases the pit trading is stacked> heavily against small
traders.>> Earl>> ----- Original Message
-----> From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>>
To: <realtraders@xxxxxxxxxxxxxxx>> Sent: Wednesday, November 07,
2001 5:55 PM> Subject: Re: [RT] The SEC just regulated me out of a
job........>>> Sean,>> I think you
are right, you should go with trading the E-Minis. Ofcourse,>
if you don't like working so hard, I would just buy futures on some
ofthose> rediculously depressed commodities that on any any thought
of economic> recovery will sprint at least 20-40%.> I have been
extolling the virtures of Coffee, Cotton, Copper, Soybeans,> Silver,
& Sugar on this and other lists for several weeks. For
example,> since the low about two weeks ago, Dec. Cotton has rallied
from 2820 to3223> = over $2,000. Most of these markets have margin
requitements that are> between $1,000 - $1,500. Of course, I
don't recommend using all equityfor> margin, in fact I try to
maintain a 5 to 1 ratio of equity to margin. WhenI> get very
agressive, I may let this ratio drop to 3 to 1. Anyway,
thereare> still some great deals out there and all you have to do
is put on the> positions and wait. Some of these markets are at
30-40 year price lows.If> you buy them now, and they only get back
to their old support levels, you> will make lots of money without much
work or spending a fortune for> brokerage
commissions.>> Of course past results is no
guarantee of future performance. . Thistype> of investment may not
be appropriate for your retirement account, yourkid's> college
fund, or Aunt Tillie in Toledo's bingo fund. You can lose>
everything you have ever had or will ever hope to have trading futures
or> stocks, especially if you follow my advice and everyone stops
eating,> drinking coffee, using electronics, or stops using clothing or
blankets.>> Best Wishes,>>
Norman>> ----- Original Message
-----> From: Sean Cassidy> To:
realtraders@xxxxxxxxxxxxxxx> Sent: Wednesday, November 07,
2001 2:10 PM> Subject: [RT] The SEC just regulated me out
of a job........>>> I was just informed by my
broker that I am fortunate enough to meet the> SECs rewuirements as a
"Day Trader". I have been essentially swing tradinga> small account
because, well, I dont have enough cash to open a bigaccount.> I
tend to get out of my losers very quickly and hold on to my winners
for2> or more days. I thought thats what trading was, cut your
losses, let your> winners run. For example I had 2 longs and 1 short
going into yesterdays> rate cut. My short (INTU) was stopped out for a
$1.30 loser but one of my> longs (WEBX) made me $3.50 and another
(EBAY) is currently up about $2.This> of course makes me a day
trader although i held WEBX for 3 days and havehad> EBAY for 2 and
counting. The reason is that about 5 times a week a trade> goes bad and
I have to get out in the same day. My plan is working very> well, I am
up about 5 points this week already and make at least a little> money
almost every week. But because I do not have $25000 the SEC
hasforced> my broker to shut down my account for a week. I am
currently averaging a> return of about 10 -13%....per month. I think I
know the answer to thisbut> outside of finding a loan
shark.........is there anything I can do about>
this?>> By the way......I am allowed to trade
futures and/or options. I think Iam> about 2 for 20 on options
trades over the years and accept the fact that,at> this point, I
just dont have enough knowledge to make money with them. OrI> could
trade the E MIni S&P, with its margin of 10:1...that is
obviouslymuch> less risky than doing 50 to 100 share lots of a
stock with a proven method> (sarcasm).>> Any
help would be appreciated...or maybe I just needed to vent a>
little....looks like I am shut down after making 10% most months. I am
now> going to look for my man Huggy Bear to see if I can get one of
those 88%> (per month) easy payment loans.>>
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