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jackg152004

04/13/13 12:55 PM

#2427 RE: searay2701 #2424

Ok searay last response to you as even though it is pouring rain here in Miami I have two beautiful little kiddies and a wife so I don't want to waste any more time on this board.

First, the money I trade pennies with in no way, win or lose, will affect my lifestyle. I work for my living, and very hard at that, and only risk money I can afford to lose. That is rule #1 when trading pennies and unfortunately I suspect you violated that rule.

Second, I have been trading pennies in my personal account for 19 years, since I was 19 years old. I like to think that in that 19 years I have learned a thing or two on how to play this game. I absolutely have lost money on trades, but I have made a lot more than I have lost. Sometimes a successful trade is actually when you sell and take a small loss.

Third, I was a professional trader for Schwab Capital Markets on the NYSE for 5 years from 2000-2005 so my experience level and understanding the dynamics of the markets is much higher than the average penny player on these boards. In addition, my older siser was an MM for Schwab/Hudson for 14 years so I know all the MM tricks.

Don't violate rule #1 (see above) and understand there are no long-term plays when playing pennies, they are all trades, and you should do OK.

That being said TTXP will certainly present opportunities to make significant money over the next 6 months. As a matter of fact, I would be a buyer right now.

Sorry for any losses you may have experienced. Good luck going forward.