Stock Market

Psycnosis · 9 January 2004

Also used to use CQG for my charts, now I use tradestation and Lycos sometimes if I don't want to open all my crap.

KGP · 9 January 2004

Psycnosis said:
No need to lose 10k because of a damn system error.

Yes, I was wondering what you guys were doing as a back-up in case of systemic probems. I mean if you were relying on DSL and it went down you could potentially be screwed.

Psycnosis · 9 January 2004

I have fiber to my house, a phone line, a wireless card I take with when I trade, I have both brokers on a cell phone just in case. Not too many errors these days. I got reamed 1 time and that's all it took.

KGP said:
Yes, I was wondering what you guys were doing as a back-up in case of systemic probems. I mean if you were relying on DSL and it went down you could potentially be screwed.

O-Ace · 9 January 2004

KGP said:
Yes, I was wondering what you guys were doing as a back-up in case of systemic probems. I mean if you were relying on DSL and it went down you could potentially be screwed.

That's the thing I like about Open E Cry, they always pickup the phone right away and you get a live person, not some recording. You can call them if your system goes down, and there's no extra charge. Their trade desk is open 24/7.

Psycnosis · 9 January 2004

Most good brokers are like that. I like interactive a lot and have been using them for 3 years. there system is the fastest and I like how it works.

O-Ace · 9 January 2004

Psycnosis said:
Most good brokers are like that. I like interactive a lot and have been using them for 3 years. there system is the fastest and I like how it works.

If you get some time, just try out the Open E Cry platform. I was with IB for a while as well, and the OEC platform is actually faster!

-Awais

Psycnosis · 9 January 2004

I may move some money over, just taxes on 2 is bad but 3 is going to be HELL!

O-Ace said:
If you get some time, just try out the Open E Cry platform. I was with IB for a while as well, and the OEC platform is actually faster!

-Awais

O-Ace · 9 January 2004

Psycnosis said:
I may move some money over, just taxes on 2 is bad but 3 is going to be HELL!

True, but you might close your IB account once you try out OEC. I did

-Awais

steveny · 9 January 2004

I too just opened a second account for a back up. I have been considering installing a generator for power back up. It seems like my power goes off at least once a month sometimes leaving me in a bad spot on a trade.

what kind of money did you spend to get fiber to your house?

Psycnosis · 9 January 2004

Same price as DSL,I had BellSouth run the fiber to the house, I do not even remember what that cost. I had a T1 but $700 a month is a waste. Man don't get a generator lol, get a APC power backup or get a notbook with a wireless card so you have a backup of everything. That's what I did. I trade all over the place.

steveny said:
I too just opened a second account for a back up. I have been considering installing a generator for power back up. It seems like my power goes off at least once a month sometimes leaving me in a bad spot on a trade.

what kind of money did you spend to get fiber to your house?

steveny · 9 January 2004

Even with a wireless card I would still need power to the router. No wireless net around here I live in the sticks. I can get 20 min old quotes on my cell phone though LOL. just about as good as sour milk.

O-Ace · 9 January 2004

steveny said:
Even with a wireless card I would still need power to the router. No wireless net around here I live in the sticks. I can get 20 min old quotes on my cell phone though LOL. just about as good as sour milk.

That's why you attach a UPS to the router as well. That's how I have it setup. One APC UPS for the PC, and a seperate one for the router and DSL modem.

-Awais

Psycnosis · 9 January 2004

If a cell phone works you can get wireless, it may not be super fast but it works. Check out Sprint PCS...

steveny said:
Even with a wireless card I would still need power to the router. No wireless net around here I live in the sticks. I can get 20 min old quotes on my cell phone though LOL. just about as good as sour milk.

dgp · 9 January 2004

I had a little bit of free time and tried the Open Ecry demo account. I made 52.7K in one day by mostly buying bid and selling ask (100 size

!) In reality the trades wouldn't have been executed as easily as in the demo since in the demo Open Ecry assumes that once the price hits your order price it gets executed.
Anyways, it was fun and I might give it a try trading ES futures sometime in the future.
O-Ace, how is your trading going so far? Are you making progress?

steveny · 9 January 2004

I had a good day today +~$2500.00.

O-Ace · 10 January 2004

dgp said:
O-Ace, how is your trading going so far? Are you making progress?

dgp, yes I'm making progress. You have to take it step by step. Success in trading doesn't come overnight. I know a couple of traders who trade 50-100 lots for real and they do have $40-50K profits on some days

dgp · 10 January 2004

Yep, you're right. Nothing comes overnight. I remember the times when I had huge losses (in the beginning) and never thought that I would make money investing. Actually, my real acct value for long-term investments was up about 2.5K today so I'm pretty happy with that.
If I do decide to try ES futures trading I'm going to have to dedicate quite a bit of time to research. Right now, I'm doing well in my own investment accts and also i don't have enough time to start futures trading (yet)...

O-Ace · 10 January 2004

Psycnosis said:
40-50k in a day is crazy, who needs all that to be honest? I think 700-1mill a year and you can have almost anything you want. Also I get pissed paying 400k a year in TAX. Total bullshit.

Some people just like pushing the limits. One of these guys takes it up to 150-200 lots at times

-awais

Psycnosis · 10 January 2004

They can keep that crap, sounds like a friend who runs a hedge fund small 20 mill but he plays like that, stressed out all the time but he has a 120k MB lol. They can keep it. After my wife get's done with med school I think I am going to move out into the woods.

steveny · 10 January 2004

Psycnosis said:
They can keep it. After my wife get's done with med school I think I am going to move out into the woods.

I'm hearing that. My g/f just finished college and is now a speech pathologist. Next venture is to set up a real estate rental income business. Ten years out she should not have to work either.
I still have neighbors but, the whole woods thing is more about a state of mind then an actual location. Living in the woods to me means not working your a$$ off to buy things you don't need just to keep up with the "joneses"

Psycnosis · 10 January 2004

Perfect!

Like here in Atlanta there are more 3 series BMW's with marketing dweebs driving them and more $20 millionaire’s then anywhere I have seen.

steveny said:
I'm hearing that. My g/f just finished college and is now a speech pathologist. Next venture is to set up a real estate rental income business. Ten years out she should not have to work either.
I still have neighbors but, the whole woods thing is more about a state of mind then an actual location. Living in the woods to me means not working your a$$ off to buy things you don't need just to keep up with the "joneses"

Jinkers · 10 January 2004

Since the thread is entitled stock market (although it has turned into a futures trading discussion), does anyone have an opinion on going long on GLBT for say 6 months?

lemansnsx · 10 January 2004

reading list

Here's what I have picked up recently:

"New Trading Dimensions" Bill Williams
"Trading Chaos" Bill Williams
"Study Guide for Technical Analysis of the Financial Markets" John Murphy

Anyone have any other recommendations?

dgp · 10 January 2004

Penny stocks are usually not investments, and from the chart I see that the stock went up some 61 times from its 52 week lows. Going long for 6 months is a gamble IMO, so do your own dd and you'll come up with the right decision.

Jinkers said:
Since the thread is entitled stock market (although it has turned into a futures trading discussion), does anyone have an opinion on going long on GLBT for say 6 months?

steveny · 10 January 2004

Jinkers said:
Since the thread is entitled stock market (although it has turned into a futures trading discussion), does anyone have an opinion on going long on GLBT for say 6 months?

if you are looking to buy stuff in that range why not do options on good companies.

Not a recommendation to buy just an example:

Imcl Jan 40's had a range of .45-1.60 on 1/8
A $450 placement would net 1150 in profit in one day
gern Jan 10's had a range of .45-1.10 last week.
$450 returns 650 profit.

*****options are risky******but then again so is walking to the mailbox.

Stock Market

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