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It is
good that you are paper trading but one suggestion I would make is after you are
having consistant success paper trading move quickly to trading the smallest
position possable as the game will change as you experiance slipage and the
emotions. I have found that I trade different on paper and almost the same
regardless of size. So IMHO many people paper trade too long and then
increase the size too quickly on actual trades only to learn this difference
exists. If you can even scratch trade that is great
experience.
<FONT face=Tahoma
size=2>-----Original Message-----From: Sean Cassidy
[mailto:scassidy@xxxxxxxxx]Sent: Thursday, November 08, 2001 9:29
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: [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="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A href="mailto:nwinski@xxxxxxxxxxxxxxx";
title=nwinski@xxxxxxxxxxxxxxx>Norman Winski
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=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
Service.>>>>>> To unsubscribe from
this group, send an email to:>
realtraders-unsubscribe@xxxxxxxxxxxxxxx>>>> Your
use of Yahoo! Groups is subject to <A
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