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Sean,
i understand your postion. i am of the opinion that
is is not difficult to design a method for trading the minis that would require
that you risk much less than 4 pts ($200) per positon.
yet, as we all know, creating a good method and
trading it well are different disciplines.
keep us informed.
kevin
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<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 10:37
PM
Subject: Re: [RT] Day Trade the
emini?
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.
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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:>
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from this group, send an email to:>
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