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Re: [RT] Day Trade the emini?



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Kevin, My standard risk per trade will be 2% of my 
equity which will be $200. So yes I could change to the mini snp and have a plan 
to do that as well but the problem is it is somewhat subjective and impossible 
to backtest. I would hate to start out 0 for 5 and lose 10% of my account.....in 
one day. Paper trading is going great and i doubt this will ever happen.....i 
guess its time to take some (potential) pain. I just hate to abondon my stock 
trading which is going so well. 
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  kevin miles 
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx 
  
  Sent: Thursday, November 08, 2001 3:41 
  PM
  Subject: Re: [RT] Day Trade the 
  emini?
  
  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
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    ----- 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 
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      ----- 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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