T/A ETF AND INDEX

[farooq]

I trade 5k block or less with E-trade and that has nothing to do with this but I do trade with hedge, usually I buy 2% out of money puts for longs and 2% out of money calls for shorts 2 month out. With NERS this hedge is becoming useless, but if I carry over a day I will still do same way. Those trades are for 5 to 20 cents mostly but at end of the day they add up. If I have 3 consecutive losses I stop day trading and my stop is about 10 Cents for every trade. For day trade I use only QQQQ. Puts and calls act like insurance, which in my opinion every business should carry. Oh yes I report all these on schedule C because this is my business. My CPA advised me in 80’s that I should set it up as business so I did, which is very helpful in taxes, I need to mark to market all positions at end of each year and I try to start with blank page every year.
I do like that we all should share our knowledge in all areas that does help every one.
Thank you for kind words.