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Re: [RT] Day Trade the emini?



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Sean,
 
given your standard risk per trade on your swing trading 
system, how many points will you have to risk per trade to trade the mini?  
how much percentage is each risk per trade of your account?
 
are you willing to adopt a new trading style to day trade 
the minis?
 
i find support/resistacne (and the pivots) to be quite key 
in the indexes.  i apply these to the snp mini.
 
depending on your risk per trade, you could very likely 
have enough to trade the minis...
 
kevin
<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: 
  Sean Cassidy 
  
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Thursday, November 08, 2001 8:28 
  PM
  Subject: [RT] Day Trade the emini?
  
  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: 
    <A title=nwinski@xxxxxxxxxxxxxxx 
    href="mailto:nwinski@xxxxxxxxxxxxxxx";>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.>>   To unsubscribe from this group, 
    send an email to:>   
    realtraders-unsubscribe@xxxxxxxxxxxxxxx>>>>   
    Your use of Yahoo! Groups is subject to the Yahoo! Terms of 
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