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You nailed it. When I fired back at him, he almost smiled. Knowledge truly is power.
That one's been relentless griff. Commodities looking the other way.
ha . I saw that on Shark Tank. I can't remember if they made a deal.
When friends and family come over, you just sit them on the couch and shake them down. Hey buddy how you been kinda thing. That couch can be like a piggy bank for change. You just have to filter out the pretzels and lint.
I had an oceanfront home owner (2nd home of course) summer 2013 mad at me that his cable and internet was out. I help in the maintenance on many of these rental homes at the beach. He was complaining that he could have lost 10k in the market today. I said how anyone loses 10k one day in a market that just keeps going up is beyond me. I went back to work and he didn't say another word. Funny how these folks can own multiple homes and need someone else to contact the cable company for them. Money doesn't equate with common sense alot of the time.
Happy New Year sir!
Good luck if you are playing the January effect.
January effect?
http://www.investopedia.com/terms/j/januaryeffect.asp
May need to change it to second half of December effect IMO.
Let's learn a lot and make a lot this year AZ. Happy New Year.
Planning on that sir. Happy New Year everyone. Vix gap filled.
CBI maybe not ready yet - I'm stopped out. link back for charts .
Diversify
This doesn't mean you need 100 stocks bonds commodities in your account. But diversify equally in your purchasing. If you are going to be wrong sometimes, and you are going to be wrong, make sure you equally diversify your purchases. A mistake I have made is purchasing more of my favorite and less of another possible winner. Don't do it. Keep lots even and don't load up in correlated markets. It's simple. If you do this , then you will be able to profit with less correct picks. I've had a stellar month and had losers 2 to 1. Only because I picked even $ amount lots and cut losses very quickly. To me this is the meaning of diversification. Even lot amounts, no biases, and a diverse pool of choices to buy from. GL.
Thanks for reminding me DA. I need to get to work on that. Also thanks for the scan ideas. Good scans are what I'm lacking and would help to organize things.
On Entries
I have read up on Taylor's Book Method. You should too. Pivot points seem to be comparable. Great Day Trading tricks that can help with good entries IMO - Don't tke my word for it, in fact don't take anyone's word for anything. Go try it out for your self with a small account and get good at.
http://stockcharts.com/school/doku.php?st=pivot&id=chart_school:technical_indicators:pivot_points
I think range resources may be one as well. RRC. Sorry just posting off memory. Ill post some charts when I get time. GASL us a fine group of companies IMO. Thanks.
Ultra Petroleum Corp is another that I've been watching. FCG is the ETF. Have a happy holiday!!
Hi E-E. One thing I've noticed is GASL is affected by oil prices as well. Not a pure nat gas play. GASL and UGAZ do not track each other IMO. I do like them both though.
Merry Christmas auroradude and ATM!!!
Trying something new.
I've got two list of entry level futures contracts. I call them entry level because of the low margin. List one is under 500$ and list 2 is under 2000$. I'm starting with the 1st list before I move up. An S&P500 contract is worth 519,500$. A gold contract is worth 120,000$. They're not on the list lol. I'll be working up to that.
List1 MGC M6A MCD M6E MJY XC XK XW
List2 CJ QC TT LE HE LBS QG 6C DX 6A 6B
Most are micro and mini contracts. Don't let the word mini fool you though. A mini S&P500 contract is worth 103,900$. You can get one with 5060$ margin. Lets say you have 10,120 in your account, Twice the margin amount, and the index drops 5% while you are long. You will get a margin call. On the other hand, if the market rally's 5% , you would have made 100% on your investment. WARNING - I did this math quickly - so these may be off. Double check me if you're interested and look up the contracts if you want to start learning as well. GL
You asked for someone techie to do it, but I went ahead and did it anyway. Haha.
Good weekend all!
Cap I may just keep my focus on gold. MGC may offer a low enough entry for a starter. MGE low entry as well, but trading gold and trading currency prob not diverse enough. Have a good weekend.
Very Cool. The first day I downloaded firetip, it must not have loaded all the way. I have it now. I think it is going to work great. The tutorial and cme website are a great help as well sir. I'm getting my list of mini's and information all together. I'll be swing trading - but will have to use some day trading skills to get an excellent entry as nothing else will do with all this leverage. I'm going to need lift off. Probably find a nice trending market, not overbought, and buy a daily dip.Sounds Great right LOL Paper trading doesn't work IMO for real trading experience, but I'm so new - I just need to get some orders filled to see how this works. Just like options - a new language. Funny, I read a book on futures a year ago and it went right over my head. This week I'm back in it and it is one of the more informational books I have on trading. Winning in the Futures Market by George Angell. You know trading is so funny. You can get a system, have a plan, and screw it all up. Human Nature is the beast in trading. If I can lick that, I can make lots of money , I believe. I really appreciate you interest and your help. I'll keep you filled in.
Will do and thanks very much again.
Glad to Hear LB. Have a Great Holidays Bro!
THANKS very much capgain. I'll be looking into all of this. Looks like great info. I'm glad to hear you liked firetip. At 1st look I kinda wasn't impressed, but I'm excited to dig into it a bit now. Thanks again - I owe you a few beers at Bubba's or wherever.
Mornin Cap. I didn't mention that I had already started a practice account with generic. The firetip platform is about as simple a it gets. I was glad to hear that you have used them before. You mentioned some complaints that others had. Obviously the rates are competitive. Any advice using that broker and platform would greatly help. I had just opened it the other day and haven't made a trade as of yet.
Same situation here - couldn't get a quote for the 1st 30 minutes on same puts I was selling. Tried to double my position yesterday, couldn't get on the sight for hours. I would be furious if I was in a losing situation. I did lose out on profits - so learn the easy way. Need Backup plan, land line- phone numbers, multiple quotes and accounts. Hell may need one of those ticker tron thingies on a direct wire/ smoke signals ...something. A blackout would be scary with all your money on the line. I guess keeping your bundle off of the trade block might be a good idea as well. shew - nice trade BTW griff - congrats buddy!!!
After running the numbers, I see I will have to start as small as possible. There are micros and mini's. I would like to trade all futures that are liquid enough to get good entry and exits. I'm watching a list of about 21 futures a mix of commodities, indexes and currencies. I also noticed you can trade sectors like the spdr futures. I have been studying and trading all of these etf's for a couple years now. My system is technical with some fundamentals to back up decisions. I have learned to set close stops on trades, but running the numbers on these contracts has a stop that would be way to close. Just need to start as small and possible..oh and be right and tight out of the gate if you know what I mean. Any advice would help. Thanks - I'm just learning the terminology - Hope to be trading a contract in the next couple months. Thanks again for any advice to a true newbie!!!!
Hey cap. Thanks for the heads up. Can you expand a little in what to expect or watch out for, or any advice. TIA.
That's a collar I believe. Sounds like a great strategy to me. Glty.
Thanks. Great advice. I've looked at both of them. I like em. I've been doing the numbers. Scary is right. No room for error in my world.
You won't miss out. They'll be plenty more movement in the markets. Pro's plan and take time entering a trade, stalk them till theyre right.
Not sure. That would be important to know... I don't trade off of it. But I'm getting a great list of needs and wants from my next broker. Thanks.
Nice. Yahoo finance has a streamer that I like. It's in easy slide down on my phone.